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Hyundai Motor Group promotes heir apparent

SEOUL — Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was appointed as executive vice chairman to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement. Chaebols like Hyundai and Samsung Group, which have grown into global firms from the rubble of the 1950-1953 Korean War, are undergoing a transfer of power to third- or fourth-generation leaders. "In his new capacity, Executive Vice Chairman Euisun Chung will oversee the entire Group's operations, aiding and reporting to Chairman Mong-Koo Chung," the statement said. The appointment also comes as Hyundai battles tumbling profits, mounting pressure from activist shareholders to improve its governance, and amid South Korea's trade tensions with the United States that threaten to disrupt its production plans. "This is a good sign," Park Yoo-kyung, a director at Dutch pension fund APG Asset Management, said of the appointment. "This will enhance transparency about who is controlling the group and who is making key strategic decisions," she said. Generational shift The junior Chung, currently vice chairman of the group's crown jewel, Hyundai Motor Co, has stepped up in recent years, attending motor shows and government meetings with business leaders on behalf of his 80-year-old father who has made few public appearances. Shares in Hyundai Motor ended up 0.8 percent on Friday, and affiliate Kia Motors fell 0.3 percent in a wider market that rose 1.4 percent. Chairman Chung, the all-powerful boss, has presided over Hyundai for about two decades, transforming the company into the world's fifth-biggest car maker along with Kia Motors. Hyundai is now struggling to reverse slowing sales in China and the United States, where the company has suffered due to its delayed response to booming demand for SUVs. The appointment is part of an effort to "improve future competitiveness and secure future growth engines" at a time when the auto industry is undergoing major changes, the group said. The junior Chung has led the group's efforts to develop future vehicles such as autonomous and connected cars, as well as Hyundai's fledging premium brand Genesis.

LeBron James ad claims $10M fan bet proving he drives K900

As one of the nation's most famous and top paid professional athletes, LeBron James' Kia K900 sponsorship has always left us suspicious to its sincerity. The basketball player could buy any other vehicle in the world but claimed to be a fan of Kia's rear-wheel drive sedan even before he signed up as the brand's pitchman. While no weirder than many other NBA auto ads, the idea is still hard to believe. The company now wants to challenge the cynics with a three-commercial campaign called The Truth that stars King James responding to actual tweets about him driving the K900. The first commercial titled Ten Mil (above) starts with James checking Twitter and finding a skeptic that bets $10 million that the player doesn't drive the K900 to games. Since that's not the case, James confirms that a wager on social media is a binding contract and hops in the Kia with an armored car following him to go pick up the cash. However, the spot misses the mark slightly because we still only have James' word that he really takes the Kia to games Once the spots start airing, you can bet Cleveland fans start keeping an eye on how the player arrives to Quicken Loans Arena. It better be in the K900 for this campaign to work. LEBRON JAMES TELLS "THE TRUTH" ABOUT DRIVING HIS KIA K900 LUXURY SEDAN 11-Time NBA All-Star Responds To Real Tweets in New Ad Campaign First of three spots from "The Truth" campaign will begin airing on TV tonight and can be viewed at Kia.com and YouTube.com/Kia Multiplatform campaign will run through the remainder of basketball season and includes television, digital and social media elements IRVINE, Calif., December 3, 2015 – Last year, when LeBron James Tweeted "Rolling around in my K900. Love this car!!" and later stated he was a K900 driver before becoming Kia Motors' luxury ambassador, naysayers took to social media to question the validity of his claims. Now, with sales of Kia's rear-drive luxury sedan up considerably over 2014 levels, the 11-time NBA All-Star and avid car collector is tackling that skepticism head-on to prove the K900 is in fact "Fit For A King" in a new ad campaign from Kia Motors America (KMA).

Nissan GT-R, Armada and the new Kia Sorento | Autoblog Podcast #658

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Road Test Editor Zac Palmer for the final episode of 2020. They've been driving some interesting cars, including the Nissan GT-R, the new Nissan Armada, a Mercedes-Benz GLA and a pair of new-gen Kia Sorentos. They talk a bit about an interesting new EV called the Ace from Alpha Motor Corporation. Finally, the trio takes turns talking about their favorite cars they drove this year. Enjoy, and we'll be back with more episodes in 2021. Autoblog Podcast #658 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving:2021 Nissan GT-R 2021 Nissan Armada 2021 Mercedes-Benz GLA 2021 Kia Sorento Alpha Motor Corporation unveils Ace electric coupe Our favorite cars of the year: Zac: Lotus Evora GT John: Polestar 2 Greg: McLaren GT Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts Kia Lotus McLaren Mercedes-Benz Nissan Coupe Crossover SUV Electric Luxury Performance Sedan Polestar