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Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

2016 Hyundai Tucson First Drive [w/video]

For most of us, September 2009 doesn't seem like that long ago. We had the same president, carried Apple iPhones, and were even paying roughly the same amount for a gallon of gas. For Hyundai, though, this particular month was when everything began to change, thanks to the introduction of "fluidic sculpture" and the second-generation Tucson. The swoopy, handsome styling introduced on the Tucson infiltrated the rest of the brand's offerings, starting with the Sonata sedan and filtering through. In the process, Hyundai raised its flag not as a manufacturer of ultra-affordable utilitarian transport, but as a company that builds fashionable, well-equipped, and high-quality cars. While it's no secret Hyundai is in a better place than it was nearly six years ago, the importance of the Tucson has grown substantially. Much as the second-gen model helped to signal Hyundai's arrival as a global player, the company hopes the third generation will mark its entry as one of the industry's premier crossover builders. Based on a day of driving around some of Minnesota's 10,000 lakes, we think that's an attainable goal. According to Hyundai's research, the Tucson is viewed as "sporty, stylish, and modern." Targeting that first notion is the new 1.6-liter, turbocharged Gamma four-cylinder, which sits under the hood of Eco, Sport, and Limited models. The single-scroll turbo allows the tiny four to deliver 175 horsepower and 195 pound-feet of torque. There's also a 2.0-liter, naturally aspirated four-cylinder for the base SE, with 164 hp and 151 lb-ft of torque, although we weren't able to score any time behind the wheel. Look for more on the base Tucson in the near future. The turbo, though, is shockingly quiet at idle, and isn't too bad as it climbs the tachometer. North of 6,000 rpm, though, it's loud, buzzy, and unpleasant. Even with the turbo's peak twist available from 1,500 to 4,500 rpm, there's little hiding the maximum curb weight of 3,710. After a smidge of lag, initial torque comes on strong, although the weight of this compact crossover soon overwhelms what power is available. That'd be a problem were it not for the new seven-speed, dual-clutch transmission. Paired exclusively with the 1.6-liter turbo (the 2.0-liter gets a traditional six-speed auto), the dry-clutch gearbox is able to deliver smooth but quick changes, particularly at engine speeds below 5,000 rpm.

Hyundai reveals more 2015 Genesis details

After we posted the renderings of the 2015 Hyundai Genesis last night, Hyundai issued a full press release revealing some of the details about its next-generation sedan. Set to make its debut at the Detroit Auto Show in a few months, the 2015 Genesis promises to bring a whole new level of styling and technology to the Korean automaker's portfolio.
Hyundai says that the design used on this car is part of its Fluidic Sculpture 2.0 language that we expect to slowly make its way across the entire lineup. Major styling changes include a taller, upright, single-frame grille (think Audi), larger headlights, sharper body lines and the swept-back, couple-like roofline. Except for spy shots, we still have no clue what the interior of the new Genesis will look like, but Hyundai says the sedan will be more intuitive for drivers to interact with. On the Genesis-foretelling HCD-14 Concept, this included a head-up display, as well as eye- and hand-gesture recognition.
For the drivetrain, Hyundai hasn't revealed much, except that the 2015 Genesis will get an all-new HTRAC all-wheel drive system. The sedan should also be better to drive, thanks to a more even weight balance, a stiffer chassis and Advanced Traction Cornering Control (ATCC) electronic suspension. Replacing the electro-hydraulic power steering system in the current model, the new Genesis will get a full-electric, rack-mounted power steering system. For more info on the upcoming 2015 Genesis sedan, check out the full press release posted below.