[THE INVESTOR] South Korean auto parts maker Mando announced on June 30 that products manufactured at its plant in Poland were awarded the top quality rating by the European Foundation for Quality Management.Mando said that it is rare for EFQM to award the top rating in the first assessment, and this reflects the fact that there were no quality issues with the 1.6 million caliper brakes supplied to Volkswagen over the past year.Located in Walbrzych, Mando’s Polish operations began production in

[THE INVESTOR] Hyundai Motor Group’s share of the Chinese market rose in May from a year ago aided by rising SUV sales. According to industry data, the combined market share of Hyundai Motor and Kia Motors came in at 9.2 percent in May, rising 0.2 percentage points compared to the same month last year. The data showed that the two carmakers sold 150,450 units, excluding small commercial vehicles, in May. Compared to May 2015, the figure is an increase of 16.6 percent. Much of the rise was accoun

[THE INVESTOR] With German automaker Volkswagen AG deciding to pay US owners of defective vehicles as much as US$ 10,000 per car, Korean consumers are furious over the lack of similar compensation measures for them.Volkswagen decided to pay a total of US$ 14.7 billion to settle emission cheating claims with owners of 475,000 affected vehicles in the US on June 28 (local time). In response to this settlement, Audi Volkswagen Korea reaffirmed that it has no plans to compensate Korean consumers, be

[THE INVESTOR] Prosecutors will summon Park Dong-hoon, former head of Audi Volkswagen Korea, on July 5, to question him over the automaker’s emission scandal. Seoul’s Central District Prosecutor’s Office on June 29 said it will bring Park as a key witness to the case over VW cheating pollution emissions test for defective units. During investigation, if prosecutors find out Park took part in the scandal or ordered others to manipulate documents of emission and noise level tests, his status could

[THE INVESTOR] Hyundai Motor is planning to launch electric vehicles under its luxury marque Genesis in 2020.According to Hyundai Motor on June 29, the company plans to add electric cars to the Genesis lineup as part of its eco-friendly vehicle strategy. On June 29, a local daily reported that Hyundai Motor is eyeing the high-end electric vehicle market. Genesis G90.An unnamed high-level official of Hyundai Motor was quoted by a local daily as saying that the company is planning to launch high-p

[THE INVESTOR] Ssangyong Motor is likely to be the most affected in sales by the increased public concern over diesel vehicle’s impact on air pollution, as well as the government’s push to curb diesel-fueled cars as part of measures to counter fine dust in the country, local news reported on June 28. From January to May this year, a total of 40,946 cars were sold by Ssangyong Motor, the Korean unit of Indian auto giant Mahindra & Mahindra. Among them, 31,237 units, or 76.3 percent, were diesel-f

[THE INVESTOR] Hyundai Motor announced on June 28 that it will sponsor a major PGA tournament in Los Angeles from next year with its entry-level luxury brand Genesis. The tournament, held at the Riviera Country Club, will be named the Genesis Open from 2017, the carmaker said. The tournament will be organized by Tiger Woods Foundation. The tournament being sponsored by Hyundai Motor is one of the major events in the PGA tour, where golf legend Jack Nicklaus made his professional debut. It also s

[THE INVESTOR] Despite the recent expansion of the imported car market in South Korea, sales did not grow so fast. A total of 1.01 million imported cars were sold from January 2010 to May 2016, according to the Korea Automobile Importers and Distributors Association on June 26.But among them, only 41,466 units, or 4 percent, were eco-friendly vehicles. Out of the 26 carmakers selling imported cars, 15 did not sell eco-friendly cars at all.Only 0.4 percent of sales from BMW, the No.1 seller here,

[THE INVESTOR] Hyundai Motor Group’s labor union is set to take industrial action on July 22.One June 27, Hyundai Motor’s union said that the negotiations led by the Metal Workers’ Union broke down and a group-wide strike will take place on July 22. According to the unions, the talks fell apart after group companies rejected their call for the seventh round of talks. The Metal Workers’ Union is a subgroup of the hardline umbrella union Korean Confederation of Trade Unions. The unions of carmaker

[THE INVESTOR] Prosecutors will soon summon Park Dong-hoon, former head of Audi Volkswagen Korea, to question him over the automaker’s emissions scandal, local news reported. Park, who is currently the chief executive of Renault Samsung, headed Volkswagen Korea from its initiation in 2005 to 2013 until he moved to Renault Samsung. Former head of Audi Volkswagen Korea Park Dong-hoon.  He is now the CEO of Renault Samsung.Prosecutors have found out that Audi Volkswagen Korea manipulated documents

[THE INVESTOR] The number of automobiles imported from the US has more than tripled since the Korea-US free trade agreement took effect. According to local automotive industry data, the number of vehicles imported from the US went from 13,669 units in 2011 to 49,096 units in 2015, rising by a factor of 3.6. The Korea-US FTA took effect in 2012. In terms of value, automobile imports in 2011 came in at about US$363 million. The figure for last year came in at over US$1.24 billion. In comparison, K

[THE INVESTOR] South Korean Customers of Volkswagen’s gasoline-powered vehicles have filed a suit against the German carmaker and its local unit over its manipulation of emissions tests, a lawyer said on June 27.Jason Ha, who represents 26 owners of the Golf 1.4 TSI at Barun Law, said he filed the suit, demanding the firm and its local unit refund the cost of their cars.The latest legal action came three days after prosecutors arrested an executive of Audi Volkswagen Korea for installing softwar