SEOUL, May 22 (Korea Bizwire) – The Kia Carnival minivan, once renowned as the quintessential family vehicle for road trips and camping, took the top spot for corporate vehicle registrations in South Korea during the first quarter of 2024. This marks the first time the Carnival has claimed the number one position on a quarterly basis. [...]
SEOUL, May 20 (Korea Bizwire) – In a testament to its exceptional design and performance, Kia’s EV6 has outperformed the Volkswagen ID.5 GTX in a recent comparative evaluation conducted by the renowned German automotive publication Autobild. Widely regarded as one of Germany’s top three automotive magazines, alongside Auto Motor und Sport and Auto Zeitung, Autobild [...]
SEOUL, May 20 (Korea Bizwire) — Hyundai Motor Co.’s vehicle selling prices soared over the past five years due to a weak won, higher costs and high-end models, the company’s data showed Monday. In the domestic market, the average selling price of Hyundai’s passenger vehicles rose to 53.19 million won (US$39,000) in the January-March period, [...]
SEOUL, May 20 (Korea Bizwire) – With extending the retirement age emerging as a key issue in this year’s wage and collective bargaining negotiations at major South Korean companies, discussions on the matter are expected to take place at Hyundai Motor, a leader in the country’s automotive industry. On May 19, the Dong-A Ilbo reported that [...]
SEOUL, May 13 (Korea Bizwire) – Within Hyundai Motor Company, there is a growing perception that Audi customers are starting to buy Genesis models, according to industry sources on May 12. This assessment is backed by more than just surface-level sales figures. Some imported car brands, unable to withstand the Genesis onslaught, are downsizing operations in [...]
SEOUL, May 9 (Korea Bizwire) — U.S. automotive company BorgWarner Inc. has opened a research and development center in South Korea, which is expected to help stabilize the supply chain in the sector, the industry ministry said Thursday. The new center, located in Daegu, 237 kilometers south of Seoul, will focus on developing integrated driving [...]
SEOUL, May 8 (Korea Bizwire) – South Korea’s auto exports climbed 10.3 percent in April from a year earlier, data showed Wednesday, on the back of strong demand for eco-friendly cars from North America. The combined value of car shipments came to US$6.8 billion last month, beating the previous record of $6.53 billion tallied in [...]
SEOUL, May 7 (Korea Bizwire) — North Korea’s external economic relations minister has expressed intent for his country’s cooperation with Iranian automaker Saipa during a recent rare trip to Tehran. Yun Jong-ho made the remark as he visited a booth run by Iran’s second-largest automaker at a trade show in Tehran during his 10-day stay [...]
WASHINGTON, May 6 (Korea Bizwire) — South Korea has raised its automotive industry’s concerns with the United States over Washington’s inquiry and envisioned rules to address potential security risks from “connected vehicles” that use technology from China and other countries of concern. On April 30, the South Korean government submitted its comments to the U.S. [...]
SEOUL, Apr. 29 (Korea Bizwire) — The antitrust regulator approved a joint venture between LG Uplus Corp. and Kakao Mobility Corp. for operating electric car charging stations Monday, noting that the partnership is unlikely to impede market competition. The approval by the Fair Trade Commission (FTC) came as LG Uplus, the nation’s No. 3 mobile [...]