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Filed under: Sedans/Saloons , Chevrolet , GM The Chevy Cruze era has begun in South Korea, except the sedan will be badged as the Lacetti Premiere. General Motors partner Daewoo is producing the fuel efficient sedan for Korea, the first market to get one of GM's most important future vehicles. The Cruze is the first truly global vehicle that the General will produce, with a keen eye on fuel economy and scalability. The Lacetti Premiere will come equipped with the same 1.6L powerplant with 140 hp as the rest of the world, meaning fuel economy is reported to approach 40 mpg on the highway. Europe won't receive the Cruze until early 2009, with the U.S. getting the Bow Tie-branded sedan in 2010... at the earliest . Gallery: 2011 Chevy Cruze [Source: Trading Markets ] GM launches Cruze in South Korea as Lacetti Premiere originally appeared on Autoblog on Thu, 30 Oct 2008 15:01:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments
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Filed under: Etc. , Hyundai In South Korea, economics trumps justice. Chung Mong-koo , the head of Hyundai who recently received a suspended sentence for embezzling and bribes has -- along with 341,000 other businessmen, bureaucrats, and politicians -- been given a full pardon. President Lee Myung-bak, who said he was "personally against" the decision, decided to issue the pardons anyway. Mong-koo wasn't even in jail, but apparently the convicted and jailed businessmen were "having problems doing business overseas." Go figure. So on Liberation Day, in hopes that "businessmen would take the lead in reviving the economy by creating jobs through active investment and exploring markets abroad," the bad guys got gifts even better than walking papers. In South Korea, crime does pay... if you have good business sense. [Source: Reuters ] Read | Permalink | Email this | Comments
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Filed under: Government/Legal , Hyundai , Kia South Korea is working hard to crack down on corruption in its business sector, but the example-setting won't begin with Hyundai boss Chung Mong-koo. A Korean court gave Chung a three-year suspended sentence as punishment for embezzling monstrous sums of cash from the world's sixth largest automaker. Chung admitted to embezzling company money to pay off politicians, but that didn't stop the courts from going easy on the billionaire. The judge cited the fact that Chung used most of the embezzled money to run the business, but that answer isn't sitting well with many South Koreans looking for justice. Chung is a member of the chaebol, which is a group of families that control most of the wealth in South Korea. For all his wrong-doing, Chung spent a grand total of two months behind bars, and he's been ordered to donate $828 million. It's good to be rich apparently, at least in Korea. [Source: Automotive News - sub. req'd...
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Filed under: Coupes , Sports/GTs , China , Euro , Crossovers/CUVs , Infiniti , Nissan Dave Guilford of Automotive News sat down with Carlos Tavares, Nissan MoCo's global product chief, and the fruits of his investigative labors revealed that Infiniti...
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