Tag Archives: Korea

currency strength, weak global demand hit Hyundai’s Q2 profit

Hyundai Kia Motor Cars Headquarters, Seoul, Korea - currency strength, weak global demand hit Hyundai's Q2 profit

Hyundai said its net profit for the second quarter fell the most since the first quarter of last year, as the automaker was hit by the local currency’s sharp gain versus the dollar. The automaker warned that it expects a tough second half as the South Korean won remains strong and global demand growth weakens.

Toyota Camry is Korea’s “Car of the Year”

For more than two decades, Hyundai Motor Co. could count on the sun rising each morning and for South Koreans to buy South Korean vehicles. Then Toyota Motor Corp.’s Camry became the country’s “Car of the Year.”