N79969 From , joined Dec 1969, posts, RR:
Reply 4, posted (11 years 4 months 3 weeks 6 days 10 hours ago) and read 3755 times:
This scandal has also disgraced the former President of South Korea. (Kim Dae Jung?) While he was in office, he was praised for a face-to-face summit with Kim Jong-Il which was seen as a breakthrough. (Sunshine Policy) It turns out they acceded to blackmail by the North.
Sad to see this man die on top of everything else. Too bad it wasn't Kim Jong-Il that killed himself.
VonRichtofen From Canada, joined Nov 2000, 4639 posts, RR: 36
Reply 8, posted (11 years 4 months 3 weeks 6 days 9 hours ago) and read 3705 times:
Hyundai is slowly shaking off their "cheap crap car" image. Their customer satisfaction has increased 80% in the last few years (at least in North America). I must admit some of their new models are attractive. I think they're good value for the price. You can get a brand new accent here in Canada for only $12,000CAD. With full warranty etc. Good deal for say a college student or something.
What I never understood is why their cars used to be crap when Hyundai builds arguabley the best ocean tankers in the world. They also build excellent cranes and other heavy machinery. Obviously they have some skilled engineers at their disposal, so why the crap cars?
Back to topic: Was there a reason for his suicide?
DodgeCharger From United States of America, joined Jun 2003, 210 posts, RR: 0
Reply 11, posted (11 years 4 months 3 weeks 6 days 8 hours ago) and read 3664 times:
In the 80s you couldn't do worse than a Hyundai. But in the last 2 years they have quickly turned things around. Take a look out on the road. You may be suprised at the number of Hyundais you see. I think one big reason for their large sales increase and customer satisfaction is they were the first to offer the 10yr 100,000 mile warranty. That got lots of people in the door. Knowing you are covered longer than you are probably going to keep the car is a big incentive for lots of people.
MaxPowers From United States of America, joined Dec 2000, 475 posts, RR: 0
Reply 13, posted (11 years 4 months 3 weeks 6 days 6 hours ago) and read 3643 times:
In all honesty, do you maybe think it was also due to the company having money trouble? They do sell these cars at a very low price and maybe it's been hurting the car company as well as the negative image it got with illegal transactions to North Korea?
Watewate From Canada, joined Nov 2000, 2284 posts, RR: 1
Reply 14, posted (11 years 4 months 3 weeks 6 days 5 hours ago) and read 3634 times:
Let me clear things up...
He was NOT the head of Hyundai Motors. He was in charge of Hyundai Asan, which has been under media scruitny as of late due to the forementioned blackmail scandal. Hyundai Motors should see no effect from this incident.
Just FYI, one of the reasons why this guy's father (deceased a few years ago) ran for presidency a while back was because he was sick of being 'forced' to do government chores and giving bribes. This man probably could have avoided this tragic end had his brother been succesful in his bid for presidency last year. But no, he dropped out of the running, and with new regime comes new headaches for chaebols vulnerable to all sorts of blackmails due to their business practices (that are necessary to operate in the economic/political environment, by the way).
Also, Hyundai Motors is doing really well. Hyundai group is struggling due massive amount of defaults from its customers belonging to its credit card unit, but that should pose no long-term problem for Hyundai Motors.
As for Hyundai cars, one of them was my first choice on my last shopping trip! Tiburon/Tuscani/Coupe is a very fine looking car. That car was ahead of Acura and VW when I went shopping. I ended up with a Honda in the end due to insurance reasons, but I would not hesitate buying a Hyundai car in the future. The 10 year warranty should not be around much longer once the economy picks up. This was made clear by the very person heading the US-unit of the Hyundai Motor goup. It has already achieved its goal - bringing customers in. The products are obviously withstanding the test of time.
BarfBag From India, joined Mar 2001, 2252 posts, RR: 6
Reply 15, posted (11 years 4 months 3 weeks 6 days 5 hours ago) and read 3639 times:
For all of Hyundai's (and that of other Korean conglomerate's) troubles, they deserve the credit for turning Korea from a bombed-out basketcase in the 1950s to the economic powerhouse it is now. Korea's growth is an absolutely fascinating story (at least to me), of multiple governments imposing decades of huge pressures on the 'chaebols' to meet ambitious export goals in return for easy credit. The latter turned out to be a bane, with financial scandals and murky deals coming to the surface in recent years.
But the contribution of conglomerates like Hyundai, Samsung, and the bankrupt Daewoo was huge. Hyundai Shipyards, as mentioned above, builds many of the biggest supertankers in the world; they along with (IIRC) Mitsubishi in Japan took the lion's share of the VLCC/ULCC construction contracts, and wreaked havoc with the shipbuilding industries of countries like UK by the 1970s - just amazing for a country that could have been mistaken for a lunar landscape two decades previously. In the case of cars, they're following pretty much the same path as the Japanese, and in a decade, their vehicles would very likely be respected to the same extent as Honda or Toyota.
UTA_flyinghigh From Tunisia, joined Oct 2001, 6495 posts, RR: 50
Reply 16, posted (11 years 4 months 3 weeks 6 days 4 hours ago) and read 3635 times:
Hyundai Asan = branch if Hyundai Group responsible for North Korean investment programs.
HMC = Hyundai Motor Company, automotive subsidiary of the Hyundai Group.
The guy that thought he was an aircraft has nothing to do with HMC.
Fly to live, live to fly - Air France/KLM Flying Blue Platinum, BMI Diamond Club Gold, Emirates Skywards
N79969 From , joined Dec 1969, posts, RR:
Reply 17, posted (11 years 4 months 3 weeks 5 days 22 hours ago) and read 3579 times:
He jumped from 12 story building.
I agree with BarfBag that South Korea's rise is incredibly interesting to ponder.
South Koreans cars are doing OK. I don't think Toyota or Honda are in real danger. It is in the area of electronics in which SK is excelling. This is where the Japanese need to worry about being overtaken. This is true for inputs such as semiconductors and consumer products like HDTV.