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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.

2018 Hyundai Accent First Drive Review | Simply good at under $16 grand

We test a lot of fancy, complicated cars here at Autoblog. Most of the cars that come in are high-trim with as many options as possible. That's why it was rather refreshing when Hyundai sent us its new Accent in the most basic possible form, the Accent SE. It's the bottom of the Accent line starting at $15,880. There are no options available when building one out on Hyundai's website, and according to the window sticker, the only extra added to it was a set of carpeted floor mats. The only potential problem with such a basic car is that there's nothing to make up for a poor driving experience. Thankfully, that's not the case with the Accent. It's a strong value that offers a comfortable and even sometimes fun driving experience. It even provides just enough features to not feel like a total penalty box. Exterior, interior and features Being the SE trim level, our Accent was quite unadorned. It had steel wheels with plastic wheel covers, no fog lights, nothing extraneous. Despite that, it wasn't a bad-looking little thing, sporting slightly shrunken Elantra looks that aren't too far out of proportion. Appealing to this editor was the manual transmission, which is only available on this bare-bones trim. The interior feels about as basic and cheap as the exterior, and is easily one of the weakest points of the little car. The dash and door panels look as though they were molded as one unit from the same hard black plastic. There are only a couple of light gray trim pieces to keep it from looking too bleak, but it feels like a somewhat half-hearted attempt. The good news is that Hyundai doesn't completely penalize you for picking the base trim level. You still get the necessities such as cruise control, power windows and locks, air conditioning, USB and Bluetooth connectivity, six-way adjustable seats, and even hill start assist and rear-view camera. In the Accent's cousin, the Kia Rio, you miss out on the cruise control and power windows and locks. But in the Rio's favor is a far more stylish design that shows cheap materials don't have to be drab and dull. All the Accent's controls feel good and are intuitive, though, which is something fancier cars can't often say. Engine, transmission, ride and handling Where the Accent falls short in visual impressions, it makes up for them on the drive. Most impressive is the car's ride quality. We're at the peak of southeastern Michigan pothole season, and the Accent handled it with aplomb.

2016 Hyundai Veloster Turbo Rally Edition Quick Spin [w/video]

Our year-long test of the Hyundai Veloster Turbo was a mixed experience. There were plenty of not-very-nice anecdotes about the blown Hyundai – at one point, our own Managing Editor Steve Ewing suggested we "stop thinking of the Veloster Turbo as a proper hot hatch," and Senior Editor Seyth Miersma said it was a car that "doesn't feel especially hot-hatchy." We felt this way despite the car's overt hot-hatch trappings: the red turbo badging, matte-gray paint, upgraded body kit, huge center-exit exhaust pipes, and sticky Michelin tires. Our reaction to this Rally Edition was lukewarm when it debuted earlier this year at the Chicago Auto Show. You can imagine, then, our trepidation with the arrival of the matte blue tester. As it turned out, a week behind the wheel proved that Hyundai has addressed a number of the complaints we lodged during our prior year-long Veloster test. Driving Notes There was only so much Hyundai could do to the Veloster during this year's mid-cycle refresh. That means the 1.6-liter, turbocharged four-cylinder is still there, writing checks its performance can't cash. We still get 201 horsepower and 195 pound-feet of torque, the latter of which is available between 1,750 and 4,500 rpm. Despite the generous torque spread, there's no sense of urgency with this engine. Pair that with the still persistent turbo lag, and the Veloster Turbo feels slower from behind the wheel than other hot hatches, even less powerful competitors like the Fiat 500 Abarth. There were a number of complaints about our Veloster Turbo's fuel economy during our year behind the wheel. At 24 miles per gallon, this Rally Edition managed to come in just under the EPA-estimated 25-mpg city rating, improving measurably on the less than 22 mpg Senior Editor Miersma returned in his long-term wrap-up. Still, we were four mpg below the 28-mpg combined rating in what was largely mixed driving. Aside from the unchanged powertrain, the Rally Edition brings a lot to the Veloster Turbo package worth liking. The inclusion of a B&M Racing short-throw shifter makes this gearbox not only easier but also far more enjoyable to manipulate, although the gearing is still too tall for our taste. The shift knob is just the right size, and the shift action feels rifle-bolt precise. It is delightful, aside from an annoying, almost inexcusable flaw, which you can see in the video below.