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Business - Hyundai-led group agrees to $10 billion land deal, stokes union rage


By Hyunjoo Jin SEOUL (Reuters) - Hyundai Motor Co and its two affiliates approved Asia`s biggest property deal since the financial crisis on Friday when their board members agreed to pay 10.55 trillion won ($10.12 billion) for a trophy plot of land to house a new headquarters in downtown Seoul. The Hyundai-led group - which includes Kia Motors Corp and Hyundai Mobis Co - agreed to the price, more than triple the appraised amount, prompting a sharp sell-off in the companies` shares. About 11.6 trillion Korean won ($11. ...


Friday, September 26, 2014  08:57

Yahoo

Business - Boards of Hyundai Motor, units OK signing of $10 billion land deal


SEOUL (Reuters) - The boards of Hyundai Motor Co and two affiliates on Friday approved a 10.55 trillion won ($10.12 billion) purchase of a plot of land in Seoul, the companies said, sealing a deal worth more than triple the property`s appraised amount. The approval came a week after the Hyundai-led group - which includes Kia Motors Corp and Hyundai Mobis Co - made the bid for land to house a headquarters, hotel and theme park complex, sending their shares plunging. The boards of the three companies had approved bidding at the Sept. ...


Friday, September 26, 2014  06:30

Yahoo

Business - Boards of Hyundai Motor affiliates approve signing of $10 billion land deal


SEOUL (Reuters) - The boards of Hyundai Motor Co and two affiliates on Friday approved the signing of their 10.55 trillion won ($10.12 billion) deal to buy a plot of land in Seoul valued at about a third of that amount, the companies said. Hyundai Motor will pay 55 percent of the price, followed by Hyundai Mobis Co Ltd with 25 percent and Kia Motors Corp with 20 percent, they said. (Reporting by Hyunjoo Jin; Editing by Jeremy Laurence)


Friday, September 26, 2014  06:11

Yahoo

Business - Hyundai Motor land bid sparks strikes, complicates labor talks


SEOUL (Reuters) - A $10 billion bid by Hyundai Motor Co and two affiliates for a plot of land in Seoul could delay resolution of perennially contentious wage talks, with auto workers angered by news of the deal striking for a second day on Wednesday. The Hyundai-led group - which includes sister firms Kia Motors Corp and Hyundai Mobis Co - last week made a record $10 billion bid for land to house a headquarters, hotel and theme park complex, more than triple the property`s appraised amount. Shares in the three companies have since lost more than 10 percent. ...


Wednesday, September 24, 2014  06:55

Yahoo

World - Hyundai workers strike to protest $10B land deal


SEOUL, South Korea (AP) — About 47,000 workers at Hyundai Motor Co. are striking to protest the automaker`s decision to spend $10 billion on land for a new headquarters.


Thursday, September 25, 2014  06:43


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