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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.

New York Auto Show Special with the Ram REV, Kia EV9 and more | Autoblog Podcast #775

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They start off with what it was like to be at the New York Auto Show, then provide analysis on all the big reveals. The big reveals touched on include the 2025 Ram REV, 2024 Kia EV9, Genesis GV80 Coupe Concept, 2024 Hyundai Kona variants, 2024 Subaru Crosstrek Wilderness and 2024 Jeep Wrangler. They also touch briefly on some non-NY news with a refresh of the Mercedes-Benz GLS-Class. Lastly, the two discuss the cars they've been driving, including the 2023 Mercedes-AMG EQE and our long-term Toyota Sienna minivan. Autoblog Podcast # 775 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown NY Auto Show 2025 Ram 1500 REV packs 650 horsepower, up to 500 miles of range Kia EV9 targets 300 miles of range, U.S. production at NY Auto Show Genesis GV80 Coupe Concept is coming to reality 2024 Hyundai Kona Electric and gas variants revealed with full specs at NY Auto Show 2024 Subaru Crosstrek Wilderness takes the hatchback to literal new heights 2024 Jeep Wrangler reveals more tech, refinement — and a cheaper 4xe News 2024 Mercedes-Benz GLS-Class gets a light update What we're driving 2023 Mercedes-AMG EQE Long-term 2023 Toyota Sienna Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2025 Ram 1500 REV packs 650 horsepower, up to 500 miles of range

2019 Hyundai Tucson revised with new styling and convenience tech

The Hyundai Tucson gets significant updates for the 2019 model year, with freshened styling all around to bring its look in line with the brand-new Kona and Santa Fe crossovers, revised engine options, and more of the safety and convenience technology that buyers have come to expect from the small crossover category. Gone is the 1.6-liter turbocharged four-cylinder engine option in the Tucson, replaced by a naturally aspirated 2.4-liter engine with 181 horsepower and 175 pound-feet of torque. This same engine was just announced for the 2018 model year, available exclusively in the Tucson Sport, but the 2019 refresh puts the uprated mill in the SEL, Sport, and Limited trims. A 2.0-liter engine is standard in Value and SE trim levels, where it makes 164 hp and 151 lb-ft. The Tucson gets redesigned fascias front and rear, with Hyundai's latest "cascading grille" design. Unlike the Santa Fe and Kona, the Tucson has traditional single-unit lighting clusters that extend from the top corners of the grille. A smaller, angular set of driving lights sit well below the headlights. Interior changes are less noticeable, but the addition of optional second-row USB charging ports and Qi wireless smartphone charging add convenience to upper trim levels. A seven-inch touchscreen comes standard and includes Apple CarPlay and Android Auto. Forward Collision Avoidance and Lane Keeping Assist are standard on all 2019 Hyundai Tucson models. A surround-view monitor, pedestrian detection, high-beam assist, rain-sensing wipers, smart cruise control with stop-and-go, and a driver attention warning system are optional. Expect to see the 2019 Hyundai Tucson in dealerships this fall. In the meantime, check out our high-res image gallery above, and stay tuned for more — Hyundai is rumored to have an N-branded high-performance version of the Tucson in the works. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.