April 29, 1998 |
As his bosses in Seoul struggled with bankruptcy last week, Dick Macedo was hurtling around a racetrack in Ventura, apparently worry free as he and other top brass at Kia Motors America Inc. spent a day feting automotive writers. Indeed, the South Korean auto importer's new sales and marketing chief insists that economic woes plaguing the parent company--the entire South Korean auto industry, in fact--have little impact on Irvine-based Kia's operations in the United States.
April 10, 1998 |
Hyundai Motors Co., South Korea's largest auto maker, said Thursday it plans to lay off up to 20% of its 30,000 employees. The company's labor union responded immediately with a call for a large protest rally at the company Friday. The Confederation of Trade Unions, a militant umbrella labor group in South Korea, threatened nationwide strikes against spreading mass layoffs. "Layoffs have become inevitable because of sharp drops in our sales," said Shin Dong-ho, a Hyundai spokesman.