South Korea

South Korea said it is investigating suspected safety issues with vehicles made by U.S. automaker Tesla Inc, which is competing strongly with Hyundai Motor Co in the South Korean electric vehicle market. Braking and steering systems including the Autopilot function were part of the investigation, a transport ministry official said on Wednesday. The ministry declined to elaborate but South Korean media said Tesla's Model 3 was under investigation, and the probe might take anywhere from six mont

The Seoul city government said on Tuesday that it has approved the long-delayed construction of Hyundai Motor Group's new headquarters in the affluent district of Gangnam, which is set to be South Korea's tallest skyscraper when completed in 2026. The 569-meter building will break ground in the first half of 2020, Seoul city said in a statement. The approval came more than four years after Hyundai Motor Group, South Korea's second-largest conglomerate, offered to purchase the site with $10 bil

Hyundai Motor Group said it plans to invest 41 trillion won ($35 billion) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. The plan, which Hyundai said encompasses autonomous, connected and electric cars as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with