[THE INVESTOR] South Korea’s Ministry of Land, Infrastructure and Transport on July 13 ordered the of recall Mercedes-Benz’s heavy-duty trucks Arocs and Actros after detecting a problem in the exhaust pipe system. Daimler Trucks Korea, which sells Mercedes-Benz trucks here, will recall 157 units of Arocs manufactured from Aug. 26, 2014, to April 4, 2016, and 443 units of Actros, from July 30, 2014, to April 8, 2016. A component in the exhaust pipe was discovered to be faulty, which can potential

[THE INVESTOR] Japanese motorcycle manufacturer Yamaha is carrying out a recall for over 900 motorcycles in Korea to rectify a clutch malfunction. The recalled motorcycles are 761 units of YZF-R3 RH07 manufactured Dec. 6, 2015, to April 4, 2016, and 161 units of MT-03 RH07, from March 16 to April 4 in 2016. The motorcycles have been identified as being affected by the defect in clutch pressure plate, causing the engine to stall. Bike owners can get their motorcycles fixed at the Hankook Motor Tr

[THE INVESTOR] South Korea’s Ministry of Land, Infrastructure and Transport said July 13 that it has ordered a recall of Ford’s sports car Mustang as part of an expanded recall to replace faulty air bags made by Japanese supplier Takata.The authorities will recall a total of 948 vehicles manufactured from April 6, 2004, to January 10, 2012.  MustangThe recall is part of a global expansion of an ongoing Takata air bag recall, which could see as many as 100 million vehicles recalled globally, by m

[THE INVESTOR] French automaker Peugeot is carrying out a recall on its subcompact convertible 207, according to the Ministry of Land, Infrastructure and Transport on July 13. Hanbul Motors, the importer of Peugeot, has been ordered to recall a total of 591 units after discovering that the failed heating system in the seats can potentially cause fire. Peugeot 207The automaker will recall 587 units of Peugeot 207CC manufactured from Feb. 12, 2007, to Oct. 23, 2008, and 4 units of Peugeot 207, fro

[THE INVESTOR] The labor unions of Hyundai Motor andHyundai Heavy Industries will put their strike plans to a vote on July 13. The two unions, which also plan to form a coalition if they strike, expect the plans to be approved.  Hyundai Motor's union put their srike plans to a vote on July 13.The 47,000 members of Hyundai Motor’s union will cast their ballots at various locations across the country. With the ballots being counted at Hyundai Motor’s plant in Ulsan, the results are expected late i

[THE INVESTOR] Hyundai Motor’s subcompact car Solaris topped the Russian market in the first half of the year, industry data showed on July 13. Called Hyundai Accent in Korea, Solaris was designed for the Russian market and launched in in 2011. According to industry data, 45,930 units of the Solaris were sold in Russia during the first six months of the year to become Russia’s best-selling vehicle.  Called Hyundai Accent in Korea, Solaris was designed for the Russian market and launched in in 20

[THE INVESTOR] After months of sluggish sales in China, Hyundai Motor and its affiliate Kia Motors have seen a turnaround in car sales in the all-important market in June. According to industry data on July 12, Hyundai sold a combined 523,000 vehicles in the first half of this year, up 2.5 percent from the same period last year. The carmaker suffered slowing sales in recent months but its car sales soared a whopping 61.6 percent in June alone by launching new models in the month. Hyundai Motor’s

[THE INVESTOR] Volkswagen Korea has received an official order from the Ministry of Environment to stop sales and cancel the registration of its vehicles that cheated on emission tests, the company said on July 12. “We received the notice,” Lee Soo-jin, a spokesperson of Audi Volkswagen Korea told The Investor. “But in order (for the ministry) to go ahead with revoking the registration, there will be a hearing session for us to explain. We will come up with an action plan after the hearing.”The

[THE INVESTOR] Hyundai Motor’s labor union on July 11 announced that an industrial dispute has occurred, setting the stage for strikes in this year’s labor-management negotiations. Under local laws, a union can legally take industrial action after a 10-day review by the state labor committee. Any industrial action also needs the approval of union members. The carmaker’s union, which applied for labor committee’s review on July 5, plans to put the strike plans to a vote on July 13. If approved by

[THE INVESETOR] The stake held by foreign investors in Mando, the automotive parts maker of Halla Group, has nearly doubled over the past months. As of July 11, foreign investors own 31.3 percent stake in the company, compared with 17.94 percent in March. During the same period, its share price also soared from 142,000 won (US$123) to 230,500 won. Analysts say the company has made big investments in recent years and investors are now showing keen interest in its business. Among other things, the

[THE INVESTOR] South Korean authorities announced July 11 that they will cancel the registration and suspend sales of all Volkswagen vehicles here that cheated on emission tests.The amount is expected to reach up to 60 percent of the total 250,000 units of VW cars that were sold in South Korea since 2007. 　Due to the staggering number, some industry watchers say the move may be designed to eventually kick the brand out of the market for good. The Ministry of Environment said the Seoul Central Di

[THE INVESTOR] June sales of the Mercedes-Benz S-Class in Korea set a new monthly record, industry data showed on July 11. According to industry data, the sales of S-Class vehicles -- including 84 units of Mercedes-Maybach S-Class vehicles -- came in at 1,332 units in June. The previous monthly sale record for the model was 1,242 units set in January 2015. Sales in June is thought to have been boosted further by the resumption of S350d sales. Mercedes-Benz Korea had halted S350d sales after it c

[THE INVESTOR] The number of Hyundai Mobis ’ modules supplied to Chrysler is set to reach 4 million by the end of the year, industry data showed on July 11. According to the Hyundai Motor Group auto parts maker, more than 3.6 million modules have been produced at its two US plants and supplied to Chrysler since 2006. Hyundai MobisHyundai Mobis’ plant in Ohio produces complete chassis module for the Jeep Wrangler, and the plant in Michigan produces front and rear chassis modules for the Jeep Gran