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May 23, 2005 | From Times Wire Reports
Chung Se Yung, 76, former chairman of the Hyundai Motor Co., South Korea's largest automaker, died of pneumonia Saturday at a hospital in Seoul. Chung, who was treated for lung cancer in 2000, was hospitalized recently because of complications from a severe cold, Hyundai Development Co. said in a statement. The younger brother of the late Hyundai Group founder Chung Ju-yung, Chung managed the automotive arm of what once was South Korea's largest family-run business for 32 years.
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AUTOS
April 3, 2013 | By Ronald D. White
When Hyundai Motor Co. and its affiliate, Kia Motors Corp., announced Wednesday that they were conducting a massive recall of 1.7 million vehicles, it was a sign of what can go wrong when parts are shared by many vehicle models. Since the recession, according to automotive industry analysts, more and more manufacturers have turned to the economies of scale involved in having fewer vehicle platforms and more interchangeable parts and components. "This is supposed to be the ideal for making cars now," said Jesse Toprak, analyst for TrueCar.com.
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BUSINESS
April 3, 2002
Hyundai Motor Co. picked Alabama as the site for its first U.S. plant. The $1-billion factory will employ 2,000 and make 300,000 autos a year when it opens in 2005.
BUSINESS
January 9, 2008 | From the Associated Press
Hyundai Motor Co. launched its rear-wheel drive Genesis luxury sedan Tuesday, a car the South Korean company sees as its ticket into the ranks of the world's top-end automakers. Hyundai preceded the introduction by showing a promotion film featuring a decidedly James Bond-like actor driving the sleek, road-hugging vehicle. The screen then receded to reveal an orchestra and three South Korean tenors who gave a live performance of "Nessun dorma," an aria from Puccini's opera "Turandot."
BUSINESS
July 26, 1993 | From Times Staff and Wire Reports
Hyundai Labor Dispute Ended: A labor dispute that disrupted production for more than a month at Hyundai Motor Co., South Korea's largest auto maker, ended Friday when workers approved a new wage contract. The approval defused the first major labor crisis for President Kim Young-sam's new government and was expected to have a calming effect on six other Hyundai firms.
NEWS
May 30, 1988
About 20,000 South Korean workers seeking higher wages went on strike at Hyundai Motor Co.'s assembly plant in Ulsan, the nation's largest auto maker reported. Officials said the production line at the plant stopped after the breakdown of the seventh round of management-union talks that began May 18. The union is seeking an increase of 48%, or $183, in monthly earnings.
BUSINESS
January 7, 1997 | Times Staff and Wire Reports
Mountain View-based Silicon Graphics Inc. said it expects to break even, below analysts' expectations, in its fiscal second quarter after failing to meet demand for its newest computers because of manufacturing delays. . . . Hyundai Motor Co. said it named M.H. Juhn president of Hyundai Motor America, which is based in Fountain Valley. . . . Irvine-based Kia Motors America named Woon Keun Kim president and chief executive.
BUSINESS
May 17, 2006 | From the Associated Press
Prosecutors indicted Hyundai Motor Co. Chairman Chung Mong-koo in a scandal gripping South Korea's largest automaker. Chung, who has been in custody since his April 28 arrest, was charged with embezzlement and breach of trust, a government spokesman said without disclosing the specific amounts of money involved in those charges. The executive's son, Chung Eui-sun, president of Hyundai affiliate Kia Motors Corp., has been investigated but was not indicted Tuesday.
BUSINESS
April 30, 2004 | From Associated Press
Hyundai Motor Co., South Korea's largest automaker, said first-quarter profit rose 11% to $395.7 million, while revenue increased 2% to $5.3 billion. Sales were dampened by a sluggish domestic market, but exports rose 5.2% to 235,000. For 2004, Hyundai is targeting total sales of 1.76 million units.
BUSINESS
June 5, 2007 | From the Associated Press
When it comes to car quality, think Korean. Hyundai Motor Co. leads in four categories with five models in the annual vehicle quality study released Monday by Strategic Vision Inc., a San Diego-based market research company and consultant to automakers. Hyundai's rise in the rankings is only the latest sign of the improved overall quality and declining number of defects in today's cars and trucks, said David Cole, chairman of the Center for Automotive Research in Ann Arbor, Mich.
BUSINESS
April 5, 2007 | From Bloomberg News
Hyundai Motor Co., working to grow beyond its reputation for economy cars, said it would begin selling a high-end sedan in the U.S. in 2008 to compete with luxury brands such as Toyota Motor Corp.'s Lexus. Hyundai expects the Genesis concept, unveiled at the New York International Auto Show, to capture sales from some Lexus models as well as DaimlerChrysler's Mercedes-Benz E-Class. Some Genesis models may cost about $35,000.
BUSINESS
March 14, 2007 | From Bloomberg News
Hyundai Motor Co. plans to be producing 300,000 gasoline-electric or diesel-electric powered vehicles annually by 2015. The company aims to develop cars with fuel efficiency that is 50% greater than current models, the South Korean Ministry of Commerce, Industry and Energy said. The plan includes production from Hyundai affiliate Kia Motors Corp. Hyundai is trying to catch up with Japanese automakers Toyota Motor Corp. and Honda Motor Co., which already sell hybrid vehicles.
BUSINESS
February 6, 2007 | From the Associated Press
Hyundai Motor Co. Chairman Chung Mong-koo, who was handed a surprise three-year jail term for high-profile corruption, won't be donning prison garb anytime soon and for now remains in control of the troubled automaker. Chung, convicted Monday of embezzling the equivalent of more than $100 million in company funds, plans to appeal the ruling, a process expected to take six months to two years. He will be free during that time to run the company.
BUSINESS
February 5, 2007 | From the Associated Press
Hyundai Motor Co. Chairman Chung Mong-koo was convicted today of embezzlement and other charges and sentenced to three years in prison in a slush fund scandal that has weighed on South Korea's largest automaker. Prosecutors, who have been taking a hard line on corruption in South Korea, last month sought a six-year jail term, calling Chung's crimes "grave."
BUSINESS
May 17, 2006 | From the Associated Press
Prosecutors indicted Hyundai Motor Co. Chairman Chung Mong-koo in a scandal gripping South Korea's largest automaker. Chung, who has been in custody since his April 28 arrest, was charged with embezzlement and breach of trust, a government spokesman said without disclosing the specific amounts of money involved in those charges. The executive's son, Chung Eui-sun, president of Hyundai affiliate Kia Motors Corp., has been investigated but was not indicted Tuesday.
BUSINESS
August 17, 2004 | From Associated Press
DaimlerChrysler said it sold its 10.5% stake in South Korea's Hyundai Motor Co., for more than $900 million. DaimlerChrysler bought the stake for $484 million in 2000 and 2001, a spokesman said. The sale was expected after the two companies said this year that they wanted to scale back their relationship. DaimlerChrysler shares rose 98 cents to $42 on the NYSE.
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