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Posts Tagged ‘Hyundai Gangnam style’

Korean Unions Protest Hyundai’s $10B Headquarters

Plans to build new home in Gangnam district raises ire.

by on Sep.29, 2014

Hyundai Motor Chairman Mong-Koo Chung is feeling the heat after paying $10 billion to put the maker's new headquarters in Seoul's ritzy Gangnam district.

Not everyone is pleased about Hyundai Motor Co. going “Gangnam Style.” The South Korean automaker faces more labor unrest following the group’s decision to spend $10 billion for a plot of land in Seoul’s most fashionable Gangnam district.

The unions staged a partial strike at Hyundai Motor factories last week and announced plans to continue to walkouts again this week to show their displeasure with the recent decision to spend money on a record-breaking bid for what is described as an expensive trophy property while demanding wage restraint from the workers in its automotive factories.

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The Hyundai-led group – which includes sister firms Kia Motors Co and Hyundai Mobis Co – made the record bid for the land earlier this month. Hyundai’s bid for the property was more than triple the property’s appraised amount as it outbid Samsung, the South Korean electronics giant. (more…)

FCA, Hyundai Movin’ on Up with New HQs

Automakers pick pricey digs to call home.

by on Sep.19, 2014

Fiat Chrysler's headquarters in London has an impressive neighbor: the Queen of England. Photo Credit: Buckingham.palace.london.arp

Fiat Chrysler Automobiles and Hyundai Motor suddenly have one thing in common: a willingness to spend big money for their new headquarters buildings in Great Britain and South Korea.

The two companies recently plunked down cash on for locations that raised eyebrows. Fiat Chrysler (FCA) is putting its international home in the most expensive office district in the world in London’s West End.

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FCA agreed to lease three floors in The Economist Plaza, a building on St James’s Street that also houses The Economist magazine and is a 10-minute walk from Buckingham Palace, according to Bloomberg. The area is home to some of London’s priciest shopping. (more…)