2014 Kia Soul Base on 2040-cars

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Trump encouraged by talk of 'a level playing field' on trade with South Korea

South Korea is a longstanding American ally, but President Donald Trump has spoken harshly about U.S. trade imbalances and threatened to tear up the bilateral trade pact. "We will do more to remove barriers to reciprocal trade and market access," Trump said, adding that the two leaders had talked about the thorny trade areas of steel and autos. Trump said he was encouraged by South Korea's President Moon Jae-in's assurances that he would seek a level playing field for American workers and businesses, particularly automakers. A joint statement said the two sides had agreed to work together to reduce over supply of basic materials such as steel and non-tariff barriers. It also said Trump had accepted an invitation from Moon to visit South Korea this year. Bonnie Glaser, senior adviser for Asia at the Center for Strategic and International Studies think tank, said it was unwise for Trump to air the trade issue so publicly. "Public complaints by Trump about unfair trade and inadequate defense spending provide opportunities for China and North Korea to drive a wedge between the allies," she said. The U.S. goods trade deficit with South Korea has more than doubled since the U.S.-Korea free trade pact known as KORUS took effect in 2012. The agreement was forecast to boost U.S. exports by $10 billion a year, but in 2016 they were $3 billion lower than in 2011. At the start of Friday's talks, U.S. Commerce Secretary Wilbur Ross said the largest component of the deficit was automotive trade and many non-tariff barriers to U.S. auto exports to South Korea remained. "I think the way to address it is to deal product by product with what we can do to change the export side and what we can do to reduce the bad imports side," he said. Ross said later on Friday that some progress had been made in the talks. The current pact was agreed to despite protests by supporters of Moon, who was then in opposition. But analysts have suggested that given the need to preserve a unified front in the face of a hostile North Korea, there could be compromise on both sides to resolve issues. (By David Brunnstrom and Lisa Lambert. Additional reporting by Fatima Bhojani, Roberta Rampton, Tim Ahmann, David Chance, David Lawder and Eric Beech; Editing by Bill Trott and Andrew Hay) Related Video: Image Credit: Kim Hong-Ji / Reuters Government/Legal Genesis Hyundai Kia trade

Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Kia planning outdoorsy concept for Chicago

If you prefer vehicles with a more rugged look, then the 2015 Chicago Auto Show has quite a bounty in store. Mitsubishi will give the GC-PHEV its North American debut; Chevrolet will show the Silverado Midnight Edition, and Honda will unveil the next-gen Pilot and Acura RDX. Kia will be right along with them with its freshly announced rough-and-tumble concept for the event. Unfortunately, the Korean automaker is keeping tight-lipped about the vehicle, even the name. The brand promises the concept is based on one of its most popular models, and styling tweaks from Kia's California design studio mean a more off-road-ready appearance. When asked if the concept is a sturdier take on one of Kia's CUVs, a brand spokesperson told Autoblog, "I don't know if I would call it a crossover." The wait to learn the vehicle's true identity isn't too long, though. A teaser image and the name arrive on January 29, according to the spokesperson. We wouldn't be too surprised if Kia might not have a more rugged take on the Soul in mind. The model already gets an optional SUV Styling Pack (pictured above and below) in Europe that could serve as inspiration for this new concept. Kia Chicago Auto Show Announcement After 20 years of growth and maturation, Kia continues to carry its momentum into 2015 following a year of record sales and the arrival of the all-new 2016 Sorento CUV. Kia will embrace its challenger spirit in Chicago with the debut of an all-new concept – conceived at Kia's California design studio – that re-imagines one of the brand's most popular vehicles. Built for city dwellers seeking an adventurous escape and intended to enable a variety outdoor activities, this concept proves that practical urban wheels can also be rugged and capable. Related Video: