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February 02, 2024
Hyundai sticks to quality-driven pricing in US with new Santa Fe
Hyundai Motor continues to implement a premium pricing strategy emphasizing brand power and quality in global markets, as the automaker unveiled the pricing for the all-new 2024 Santa Fe sport utilit...round $10,000 below the US market price. Such a large price gap bucks the longstanding...
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January 30, 2024
[Herald Interview] BridgeRock offers strategic solutions for real estate loan workouts
...he Seoul office would enable the firm to offer its services in a more expedited manner, Oh said. Prior to joining Bridgerock Korea, Oh served as a team leader of global alternative investments at Hyundai Investments, raising a 1 trillion won worth of loan and equity funds for propertie...
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January 30, 2024
Hyundai Mobis secures $9.2b in overseas orders in 2023
Hyundai Mobis secured a record high of global orders totaling $9.2 billion last year on the back of the worldwide automation trend in the car sector, the South Korean auto parts manufacturer under Hyundai Motor Group said Monday. Noting that the overseas orders significantly ex...
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January 30, 2024
Mixed feelings as big firms announce hefty or zero bonuses
...y PIs (productivity incentives) based on our operating profit ratio confirmed in our final earnings report in January.” Hyundai Motor Group reportedly has not yet decided on the size of employee incentives. Expectations are high that the carmaker is likely to pay additional special in...
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January 29, 2024
South Korean exports to China plunge to three-decade low
...mportant market. Samsung Electronics, which had topped China’s smartphone sales with 20 percent market share until 2013, was dethroned by previous Chinese runners-up like Huawei and Xiaomi, while Hyundai Motor Group, whose market share peaked at 7 percent there in the 2000s, now has a...
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January 29, 2024
LG Energy Solution hits record earnings on upbeat US sales
...in the new production bases. A second joint plant with GM in Tennessee and a joint factory with Hyundai Motor Group in Indonesia will start commercial production this year. From 2025, the company pla...chigan factory, a joint plant with Stellantis in Canada, an Ohio factory with Honda ...
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January 29, 2024
Hyundai Mobis logs 14% sales growth in 2023
Hyundai Mobis, an auto parts manufacturing unit under Hyundai Motor Group, said Friday its revenue surged over 14 percent last year to nearly 60 trillion won ($44.9 billion). The company posted an annual revenue of 59.25 trillion won in 2023, breaking the record of 51.9 trillio...
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January 26, 2024
Hyundai takes earnings crown after profit surge
Hyundai Motor Group pulled in an all-time high annual operating profit of 26.7 trillion won ($20 billion) last year, outpacing Samsung Electronics, which held the No. 1 position among the listed companies in Korea for 14 consecutive years, for the first time. Hyundai Motor Comp...
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January 26, 2024
Hyundai-Kia retains global No. 3 spot as profits top Tesla's
Hyundai Motor Group has retained its position as the world's third-largest automaker for a second year, trailing only Toyota Motor and Volkswagen Group, based on its 2023 fourth-quarter and yearly financial results disclosed Thursday. The Korean automotive giant, comprising the Hyun...
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January 25, 2024
HD Hyundai Oilbank seeks bigger footing in N. America's lubricants market
South Korean oil refinery and petrochemical firm HD Hyundai Oilbank said Wednesday it is making significant inroads into the North American lubricants market by supplying its XTeer products for HD Hyundai XiteSolution's industrial vehicles. The strategic push by the two subsidi...
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January 25, 2024
Hyundai’s $5.5b EV plant may receive fewer incentives in US
Hyundai Motor Group might not receive full tax credits from the US for setting up an electric vehicle manufacturing plant in the state of Georgia, although it made hefty investments in the new produc...anced energy manufacturing investments, including EV production, and renewable energy p...
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January 25, 2024
[KH Explains] Financing limbo threatens W30tr Polish arms deal
...ugh. Having signed an initial comprehensive arms export agreement worth 17 trillion won ($12.7 billion) for tanks, howitzers and fighter jets in July 2022, the related Korean defense companies -- Hyundai Rotem and Hanwha Aerospace -- and the Polish government have been negotiating to f...
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January 24, 2024
Kia plant completes upgrade for EV production
Kia’s Gwangmyeong plant will be Hyundai Motor Group’s first production base solely dedicated to EVs, applying innovative manufacturing technologies developed by the Hyundai Motor Group Innovation Center in Singapore, according to Kia CEO Song Ho-sung during a press conference ...
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January 24, 2024
Korean banks ready to step up their game in India
...name Korean companies have ventured out. Korean tech giant Samsung Electronics and top automaker Hyundai Motor operate factories in the southeastern coastal city of Chennai, known as "Detroit of India...orea’s outbound shipments to India stood at $17.9 billion last year. Major Korean ...
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January 23, 2024
One in 10 Korean nationals work in large companies
...cent from the previous year and by 18.1 percent from the end of June 2019, before the pandemic. Hyundai Motor Company came in second, with some 71,520 employed as of last June, up by 847 in 2022 and ...n Air had 17,839; LG Chem had 14,821; Samsung SDI had 12,161; LG Energy Solution had...
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January 23, 2024
IFC Mall sales soar to record, benefiting from rival's success
..., benefiting from a surge in visitors following the high-profile opening of a new neighbor – The Hyundai Seoul, the nation’s largest department store. According to the mall on Monday, sales and visit...s, while it more than doubled among those in their 30s or 40s. Industry watchers ...
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January 23, 2024
Korean EV, battery makers seek leniency on IRA rules
Hyundai Motor Group and Korean battery manufacturers called for leniency in the US electric vehicle tax credit rules blocking battery sourcing from foreign adversaries including China, according to t...c comments submitted to the open-access website for US federal government documents on ...
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January 23, 2024
Hyundai Glovis secures recycling technology for used batteries
Hyundai Glovis, a logistics affiliate of Hyundai Motor Group, said Monday that it has decided to invest in Korean battery recycling firm ER to take the lead in the global market as the worldwide demand for electric vehicles is expected to increase. According to the announcement...
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January 22, 2024
Asan Institute founder to attend Kissinger's memorial service in NY
... statement. "We will always remember his wisdom and miss his insights as we continue to navigate a tumultuous world." Chung, the sixth son of Chung Ju-yung, founder of South Korea's conglomerate Hyundai Group, is a seven-time lawmaker with an over 20-year political career as well as a...
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January 21, 2024
Global auto market to grow modestly as China leads EV adoption
...84.12 million units signaling a tempered post-pandemic recovery, as global carmakers are looking to adopt strategies from Chinese carmakers to spur mass adoption of electric vehicles, according to Hyundai Motor Group's Business Research Center. Yang Jin-soo, head of the center’s auto ...