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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.

K900 probably won't be last time Kia goes alphanumeric

This is part of an effort to ensure that the vehicle brand itself registers with consumers more than the model name.
The new Kia K900 luxury sedan stands as a four-wheeled flag in the ground of the financially fertile turf of the world's premium automakers. It's a bold move for a Korean manufacturer that was best known for inexpensive MSRPs and easy credit only a few years ago. The company has made sure it has the requisite trappings of premium motoring: indulgent size, rear-wheel drive, a powerful V8 engine, real wood trim and rich leather seats. It has also ensured the model has another important earmark of luxury - an alphanumeric name. These days, everyone from Audi to BMW to Cadillac to Lexus to Volvo rely on a jumble of letters and numbers to make up their model names. We've been told this is all part of an effort to ensure that the vehicle brand itself registers with consumers more than the model name.

2017 Kia Forte5 Quick Spin | Sporty compact, lots of bells and whistles

A few months ago, we drove the Honda Civic Sport and found it to be a surprisingly fun and frisky hatch thanks to quick steering, a snappy shifter, and a willing turbo engine. It's also somewhat unusual in being a driver-focused compact, available with a manual, but not solely concerned with performance; sort of a warm hatch as opposed to a hot hatch. Kia's own warm hatch, the Kia Forte5 SX, is a close match for the Honda in some ways, and even better in others – for a price, that is. The Forte5 SX starts on the right foot with its punchy turbocharged four-cylinder. It's the 1.6-liter unit, which you'll also find in the Elantra Sport and Veloster Turbo, and makes a healthy 201 horsepower and 195 pound-feet of torque that nearly matches the output of the sportier-than-the-Sport Civic Si. You'll never be waiting for that power either, as the turbo hardly lags, and any lag that is present is masked by how smoothly boost comes into play. The throttle is fairly responsive, and the revs don't get hung up between shifts like they do in the Civic Sport. The Kia continues in the right direction by offering a manual transmission, as our tester had. In fact, the turbo-equipped SX trim is the only way to get a shift-for-yourself transmission on the Forte5. It features reasonably short, light throws, and the gates are a breeze to find. It's a tad rubbery at times, and isn't quite as precise as the Civic Sport's lever, but you won't be disappointed by it. The responsive engine also makes it easy to rev-match downshifts, but the pedals could be a bit closer together for heel-and-toeing. This drivetrain is packaged in the crisp, clean hatchback body of the Forte5. It's refreshingly free of extraneous vents and badging, leaving the body tasteful and classy. It's a body that is happy to change directions, too. It turns in quickly and neutrally, with only mild body roll. The steering itself is also quick and accurate with virtually no dead zone. There are a couple of handling gripes, though. The helm feels a bit overboosted and fairly numb, the ride somewhat unrefined. The body feels less controlled than it should over bumps, and the tires aren't very grippy. Inside the Forte5, things are a bit dour. The only color on the dash aside from black are the modest number of chrome appointments strewn about. Some of the plastic has a faux carbon fiber texture, but it almost makes the dash look cheaper, or cheesier, than it could be with better material finishes.