VENTURE CAPITAL POST

Japanese automakers are being forced to ship some car parts to U.S. plants by expensive air cargo and tweak production processes as a protracted labor dispute at U.S. West Coast ports shows no signs of letting up.

Hyundai Motor and affiliate Kia Motors promoted younger executives on Friday, in moves analysts said would help smoothen an eventual leadership succession at the family-owned conglomerate.

Hyundai Motor Co is recalling 42,925 sedans in the United States due to potentially faulty brake lights, according to documents filed with U.S. safety regulators.

General Electric Co is planning to divest stakes in its joint venture auto-financing and credit card businesses in South Korea, people familiar with the matter told Reuters, as the U.S. conglomerate continues to trim its exposure to the financial services sector.

Hyundai Motor (005380.KS) and two listed affiliates did not seek board clearance for the size of their record $10 billion bid for a plot of land in Seoul, more than triple its appraised value, four board members of the companies told Reuters.

The takeover of the Hysco businss ensures steady supply of steel for Hyundai Motor Corp.