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Tesla Model S 90D Receives Subsidy in S. Korea

Tesla Model S 90D Receives Subsidy in S. Korea

SEOUL, Sept. 22 (Korea Bizwire) — Tesla Motors Inc.’s Model S 90D is eligible to receive government subsidies in South Korea as the country has recently eased regulations involving battery charging time, the environment ministry said Friday. On Thursday, the Ministry of Environment notified the U.S. electric carmaker of its decision to include the Model [...]

SK Telecom Tests Self-driving Automobile on Highway

SK Telecom Tests Self-driving Automobile on Highway

SEOUL, Sept. 21 (Korea Bizwire) — SK Telecom Co. said Thursday it successfully tested its self-driving automobile on the highway, taking a step closer toward the development of a full autonomous vehicle. South Korea’s No. 1 mobile carrier said its self-driving automobile ran 26 kilometers earlier in the day with an average speed of 47 [...]

Hankook Tire Takes 7th Spot in Global Tire Market

Hankook Tire Takes 7th Spot in Global Tire Market

SEOUL, Sept. 20 (Korea Bizwire) – Hankook Tire Co., South Korea’s leading tiremaker, ranked seventh in the global tire market last year in terms of revenue, and its smaller local rival Kumho Tire Co. took 14th, according to an industry report on Wednesday. Hankook Tire logged US$5 billion in sales last year, down 5.9 percent from a year earlier, according to the U.S.-based industry magazine TireBusiness. Its smaller local rival Kumho Tire Co. raked in sales of $2.4 billion last [...]

Seoul Charging Ahead as Carmakers Go Electric

Seoul Charging Ahead as Carmakers Go Electric

SEOUL, Sept. 15 (Korea Bizwire) — South Korea is speeding up its efforts to expand charging infrastructure for electric vehicles (EVs), as global carmakers’ unveiled road maps for electrification at this year’s Frankfurt Motor Show, industry watchers said Friday. The government is planning to increase the number of fast-charging stations to 3,000 across the country [...]

GM Korea’s Labor and Management Once Again Fail to Reach Agreement on Wages

GM Korea’s Labor and Management Once Again Fail to Reach Agreement on Wages

SEOUL, Sept. 14 (Korea Bizwire) – As speculation continues to grow over the possible withdrawal of General Motors from South Korea, attempts to come to an agreement on wages abruptly ended with little to no progress on Wednesday, putting the company’s future into uncharted waters. The 19th wage bargaining talks between GM Korea’s management and the [...]

Young People’s Auto Purchase Dips on Budget, Car Sharing: Data

Young People’s Auto Purchase Dips on Budget, Car Sharing: Data

SEOUL, Sept. 14 (Korea Bizwire) — Young people in their 20s and 30s here have been buying fewer cars in recent years as they have difficulty finding jobs and car-sharing services here are more appealing to them, industry data showed Thursday. Those in their 30s bought a total of 144,360 vehicles in the first six [...]

Hyundai to Cease Sponsorship of Chinese Golf Event

Hyundai to Cease Sponsorship of Chinese Golf Event

SEOUL, Sept. 12 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. will not sponsor a Chinese golf event this year, officials in Seoul said Tuesday, amid an escalating diplomatic row over the deployment of an advanced U.S. missile defense system in South Korea. An official with Hyundai said that the automaker’s Chinese unit Beijing [...]