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Hyundai, Kia aim to grow 2017 sales to 8.25 million vehicles globally

SEOUL: Hyundai Motor Co and affiliate Kia Motors said on Monday they aim to increase their combined sales to 8.25 million vehicles globally in 2017, despite rising competition. The 2017 target is slightly higher than their 2016 goal of 8.13 million vehicles. The South Korean automakers' final sales figures for 2016 are due out later on Monday, with analysts expecting a miss due to weak demand in emerging markets. "The 2017 goal is slightly higher than my projection," said Ko Tae-bong, an auto analyst at Hi Investment…

South Korea’s Hyundai Heavy wins $1.4 billion order from Kuwait

Seoul: Hyundai Heavy Industries Co Ltd (009540.KS) said on Sunday it won a $1.4 billion contract to build the first phase of the Az-Zour North Independent Water and Power Project (IWPP) in Kuwait from GDF Suez-led consortium. The South Korean shipbuilder and builder, as part of EPC consortium with France's Sidem, said in a statement that the contract is expected to be completed in the fourth quarter of 2016. The statement added Hyundai Heavy has been part of the EPC consortium with Sidem since March 2011, formed by GDF…