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Jan 8, 2025 | 
kedglobal.com | Jae-Fu Kim
Hyundai Motor Group will invest 24.3 trillion won ($16.7 billion) this year in South Korea, the largest-ever annual investment in its home country, to advance its future mobility technologies amid growing uncertainties in the global economy and auto industry. Korea’s biggest auto group, also the parent of Hyundai Motor Co. and Kia Corp., announced on Thursday that it has earmarked 24.3 trillion won for investment in Korea in 2025, which is up 19% from the previous year.
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Jan 3, 2025 | 
kedglobal.com | Jae-Fu Kim
Hyundai Motor Co. and its sibling Kia Corp. have set a target to sell a combined 7.39 million units around the globe this year with greater focus on premium ca
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Dec 4, 2024 | 
kedglobal.com | Jae-Fu Kim |Jin-Won Kim
South Korea’s Hyundai Motor Co. and its sister firm Kia Corp. saw their US vehicle sales surge in November, driven by large SUVs, hybrids and premium Genesis cars, putting the duo on course for a record year. The two automaking units of Hyundai Motor Group said on Wednesday their combined US sales reached 154,118 units last month, up 14.7% from a year earlier. Hyundai Motor America sold 84,011 units, up 10.4% on-year, while Kia America sold 70,107 units, up 20.2%.
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Dec 3, 2024 | 
kedglobal.com | Jae-Fu Kim
Hyundai Motor Co. and Kia Corp. signed a memorandum of understanding (MOU) with the Indian Institutes of Technology (IIT) to build the Hyundai Center of Excellence. IITs are a network of 23 engineering and technology institutions in India. Established in 1950, they are under the purview of the Ministry of Education of the Indian Government and are governed by the Institutes of Technology Act, 1961. The three universities involved in the collaboration are IIT Delhi, IIT Bombay, and IIT Madras.
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Nov 28, 2024 | 
kedglobal.com | Jae-Fu Kim
The European Commission (EC), the European Union (EU) antitrust body, approved the merger between Korean Air Lines Co. and Asiana Airlines Inc. on November 28. EC said it had concluded its review after confirming Korean Air’s fulfillment of all required conditions for the merger with Asiana Airlines.
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Nov 25, 2024 | 
kedglobal.com | Jae-Fu Kim
LOS ANGELES – José Muñoz, just tapped as the next chief executive of Hyundai Motor Co., says the current market uncertainty surrounding Donald Trump’s return to the White House and Chinese automakers’ aggressive marketing offer South Korea’s top automaker a new growth opportunity. “Throughout my decades of work experience in the auto industry, I’ve never seen a market volatility like this.
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Nov 22, 2024 | 
kedglobal.com | Jae-Fu Kim
LOS ANGELES – José Muñoz, the incoming chief executive of South Korean top automaker Hyundai Motor Co., said on Thursday the company is ready to tackle potential risks associated with the new Trump administration, such as the likely elimination of EV subsidies and increased tariffs. “We are prepared to address all regulations,” he said during a press briefing on the sidelines of the LA Auto Show 2024.
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Nov 19, 2024 | 
kedglobal.com | Jae-Fu Kim
South Korea’s top auto parts maker Hyundai Mobis Co. said on Tuesday it aims to increase its non-Hyundai Motor Group affiliate sales to 40% of its total revenue by 2033 from the current 10% as part of its goal to become the global top three auto parts maker. Hyundai Mobis, a subsidiary of Hyundai Motor Co., said that it also aims to achieve an average annual revenue growth rate of 8% while maintaining an annual operating profit margin of 5-6% through 2027.
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Nov 14, 2024 | 
kedglobal.com | Jae-Fu Kim |Jung-Eun Shin
Hyundai Motor Co. has tapped José Muñoz, its global chief operating officer (COO) and head of North and South American operations, as new chief executive, industry sources said on Thursday. His appointment to be announced on Friday came as a surprise as he will become the first foreign CEO for not only the South Korean carmaker, but also for a major company in the country.
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Nov 13, 2024 | 
kedglobal.com | Jae-Fu Kim
Hyundai Glovis Co., the logistics unit of the world’s third-largest carmaker Hyundai Motor Group, plans to establish a logistics complex in Busan, South Korea’s biggest port city, to expand its business on non-automotive items and products of non-affiliated customers. Hyundai Glovis said on Wednesday that it has signed a deal to buy land of 94,938 square meters (1 million square feet) in the hinterland behind Busan New Port.
