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Hyundai Motor Co (HYMLF.PK)

HYMLF.PK on OTC Markets Group - US Other OTC and Grey Market

9 Aug 2016
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Latest Key Developments (Source: Significant Developments)

Hyundai Motor Co's Massive Sonata Recall in US May Hurt Business -- Market Talk - DJCP
Sunday, 10 Apr 2016 11:02pm EDT 

Hyundai Motor Co:Hyundai Motor, which already faces an uphill change to boost sedan sales in the U.S. amid rising popularity of sport utility vehicles, is hit by a decision to recall 173,000 units of its flagship midsize Sonata sedans in the U.S - DJ.A Hyundai spokesman says it's recalling the U.S.-made cars, built between Dec. 11, 2009 and Oct. 31, 2010, because the power steering can fail, making them harder to steer and increasing the risk of a crash.Hyundai says it's not aware of any crashes or injuries from the problem.  Full Article

Hyundai Motor appoints Lee Won Hui co-CEO
Friday, 11 Mar 2016 02:43am EST 

Hyundai Motor Co:Appoints Lee Won Hui as co-CEO of the company, effective March 11.  Full Article

Hyundai Motor declares annual cash dividend for 2015
Tuesday, 26 Jan 2016 12:26am EST 

Hyundai Motor Co:To pay annual cash dividend of 3,000 won per share of common stock and 3,100 won per share of preferred stock for 2015.Dividend payment to shareholders of record on Dec. 31, 2015.Total dividend amount of 810,890,000,000 won.  Full Article

Hyundai Motor announces resignation of co-CEO
Monday, 4 Jan 2016 03:07am EST 

Hyundai Motor Co:Announces the resignation of Kim Chung Ho as co-chief executive officer (co-CEO), effective Jan. 1.Jeong Mong Gu and Yoon Gap Han will still serve as co-CEO.  Full Article

Hyundai Motor announces resumption of production
Wednesday, 30 Dec 2015 03:34am EST 

Hyundai Motor Co:announces resumes the production at few factories including Ulsan factory on Dec. 30, after a strike.  Full Article

Hyundai Motor Co labour union to go on partial strike on Wednesday - Yonhap - Reuters
Monday, 14 Dec 2015 08:45am EST 

Hyundai Motor Co:The labour union of South Korean car maker Hyundai Motor Co 005380.KS will go on a partial strike on Wednesday in accordance with directives from the Korean Confederation of Trade Unions (KCTU), South Korea's Yonhap news agency reported. - RTRS.Hyundai's unionised workers in South Korea will strike for four hours, Yonhap reported on Tuesday citing instructions issued by the union leadership to members. Hyundai Motor did not immediately comment, while the labour union could not be immediately reached for comment. - RTRS.KCTU, the more strident of the country's umbrella labour groups, has called for a "general strike" on Wednesday to protest against the government's labour reform policy and for more protest rallies for Saturday - RTRS.The Hyundai Motor union is part of the umbrella group. - RTRS.The federation has frequently issued calls for general strikes in recent years, although the only significant action taken has been rotating work stoppages at locations where unionised labour is highly organised - RTRS.The group was behind a large and violent rally last month involving more than 60,000 demonstrators, some of whom used steel pipes and clashed with police. - RTRS.  Full Article

Hyundai Motor Co - Temporary Delhi diesel vehicle ban leaves automakers in dark, investors jittery - Reuters
Sunday, 13 Dec 2015 07:10pm EST 

Hyundai Motor Co:A nearly 4 week ban on registering new diesel-powered vehicles in India's capital has confused automakers and investors, prompting concerns that efforts to battle Delhi's air pollution could derail the auto industry's tentative recovery - RTRS.India's top environmental court on Friday banned the registration of diesel vehicles in Delhi until Jan. 6 as the city experiences hazardous levels of pollution, in part due to diesel emissions - RTRS.But the court's ruling gave little detail, sparking a sell-off in automakers' shares on Monday and industry frustration - RTRS.Shares in Tata Motors fell as much as 4.6 %, while market top utility vehicle maker Mahindra & Mahindra's stock was down as much as 2.65 %, adding to losses on Friday after the ruling - RTRS."If our vehicles are banned in the largest market in India (New Delhi), that is bound to have an impact on the bottom growth for us or anybody else for that matter," Pawan Goenka, an executive director at Mahindra told reporters on Saturday during a media conference call - RTRS.The ban by India's National Green Tribunal came a day before world leaders at the global climate summit in Paris struck a weekend deal to rein in rising emissions blamed for warming the planet. The ruling can be challenged in a higher court - RTRS.Hyundai Motor joined Mahindra in saying the ruling created uncertainty on the status of cars sold but not registered - RTRS.  Full Article

Hyundai Motor Co - Heavy rains batter auto production in India's Detroit - Reuters
Tuesday, 1 Dec 2015 03:21pm EST 

Hyundai Motor Co:Heavy rains in India's southern Tamil Nadu state have battered one of the largest auto manufacturing hubs and forced plants to shut for the second time in less than a month, crippling production and deliveries from the region - RTRS.Ford, Daimler and Nissan were among the automakers who told employees to stay home on Wednesday, as the heaviest rainfall in a century made it impossible to cross low-lying areas around the main city of Chennai - RTRS."Everyone is at home. Yesterday, workers were sent home after a half day, and today we are shut. Tomorrow too, probably," said an official at Daimler India, which produces commercial vehicles outside Chennai - RTRS.Ford said it had also shut its plant, with an annual capacity of 340,000 engines and 200,000 vehicles - RTRS."For the safety of our employees, we have halted production at our Chennai assembly and engine plants on Wednesday," a spokesman said - RTRS.The area outside Chennai is known as "India's Detroit for its concentration of automakers. Others in the rain-lashed area include Renault-Nissan 7201.T, Hyundai Motor Co and motorcycle maker TVS Motor TVSM.NS, whose shares were down almost 4 percent on Wednesday - RTRS.A Renault-Nissan India spokesman said the automaker would be cancelling shifts, but aimed to resume operations once conditions improved as there had been no damage to its plant -RTRS.Spokespeople for Daimler, Hyundai and TVS were not immediately reachable for comment - RTRS.  Full Article

Hyundai Motor Co to recall about 305,000 cars in U.S. for brake pedal issues - Reuters
Friday, 20 Nov 2015 10:32am EST 

Hyundai Motor Co:Hyundai Motor Co 005380.KS will recall nearly 305,000 vehicles in the United States to replace the brake pedal stopper pad, according to the National Highway Traffic Safety Administration (NHTSA) - RTRS.Hyundai will recall certain model year 2011-2012 Sonata vehicles manufactured between Dec. 11, 2009 and June 30, 2011, according to a letter the NHTSA sent Hyundai, acknowledging the recall - RTRS.If the brake light switch plunger did not retract, as it should when the brake pedal is not being pressed, the brake lights may stay on at all times, increasing the chances of a crash, the letter said - RTRS.Hyundai said on Friday that no injuries had been reported so far due to the issue.The recall is expected to start on Jan. 11, 2016, the NHTSA said the letter sent on Thursday - RTRS.  Full Article

Hyundai Motor Co to recall 470,000 Sonatas in the U.S. over engine issue - Reuters
Thursday, 24 Sep 2015 08:00pm EDT 

Hyundai Motor Co:Hyundai Motor Co said it would recall 470,000 Sonata sedans in the United States to replace faulty engine parts, according to documents filed with the National Highway Traffic Safety Administration (NHTSA) - Reuters.Hyundai Motor America is recalling the model year 2011-2012 cars as certain metallic debris may not have been fully removed when engine crankshafts were being manufactured, according to the documents - Reuters.The carmaker said the debris could cause connecting rod damage, leading to possible engine failure and increasing the risk of a crash - Reuters.The recall affects Sonatas manufactured between Dec. 11, 2009 and April 12, 2012 at Hyundai Motor Manufacturing, Alabama, and equipped with either a 2.0 liter or 2.4 liter Gasoline Direct injection engine, the company said - Reuters.  Full Article


South Korea November exports seen likely to rebound, inflation expected to creep up: Reuters poll

SEOUL South Korea's exports are expected to rise in November for the first time since August as the shock from Samsung Electronics' Galaxy Note 7 cancellation and strikes at Hyundai Motor Co dissipates and global trade shows signs of improvement.