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Ministry of Environment to Increase Subsidies for Jeju EVs Next Year

Ministry of Environment to Increase Subsidies for Jeju EVs Next Year

SEOUL, Nov. 17 (Korea Bizwire) – More than a month away from the end of the year, the Jeju government revealed that its designated supply of 4,873 electric cars subsidized by the Ministry of Environment had sold out. According to Jeju officials, the remaining 739 were purchased after a regional notice urging the public to purchase [...]

Hyundai Unveils ‘Encino’ Subcompact SUV in China Auto Show

Hyundai Unveils ‘Encino’ Subcompact SUV in China Auto Show

SEOUL, Nov. 17 (Korea Bizwire) – Hyundai Motor Co. has introduced the ‘Encino’ subcompact sport-utility vehicle in a Chinese motor show, in a move to revive sales in the world’s biggest automobile market, the company said Friday. In the 15th China Guangzhou International Automobile Exhibition, the country’s largest carmaker by sales has unveiled the Encino [...]

Hyundai Motor Ties Up with Michelin for EV Tires

Hyundai Motor Ties Up with Michelin for EV Tires

SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Co. said Wednesday that it has tied up with French tiremaker Michelin to develop next-generation tires for electric vehicles. The tie-up agreement on technological cooperation was signed between Yang Woong-cheol, a Hyundai Motor vice chairman, and his Michelin counterpart Florent Menegaux at Michelin’s [...]

Autonomous Cars and Human Drivers to Face Off at New Motor Show

Autonomous Cars and Human Drivers to Face Off at New Motor Show

SUWON, Nov. 13 (Korea Bizwire) — Self-driving cars and human drivers are expected to go head to head at the upcoming Pangyo Autonomous Motor Show 2017. A much-anticipated question among car fans will be answered later this week at the Pangyo show, as autonomous cars and human drivers will show off their driving skills to decide [...]

EV sales exceed 10,000 units on extended infrastructure, subsidies

EV sales exceed 10,000 units on extended infrastructure, subsidies

SEOUL, Nov. 13 (Korea Bizwire) — The sale of electric vehicles in South Korea has exceeded 10,000 units this year, reflecting a growing appetite for emissions-free cars and the country’s improving charging infrastructure, industry data showed Monday. In the January-October period, the number of electric cars sold here was 10,075 units, much higher than the [...]

More FTA Troubles Between S. Korea, U.S. Over Chevy Impala Recalls

More FTA Troubles Between S. Korea, U.S. Over Chevy Impala Recalls

SEOUL, Nov. 10 (Korea Bizwire) – The South Korean government will have another issue to discuss in the next round of FTA negotiations with the United States after a recall of imported Chevrolet Impalas has been delayed in adherence to a clause in the trade pact. The clause in question stipulates that a business can [...]

Saemangeum Industrial Complex to Begin Mass Lithium Production

Saemangeum Industrial Complex to Begin Mass Lithium Production

SEJONG, Nov. 10 (Korea Bizwire) — The Saemangeum Industrial Complex is set to produce an annual 30,000 tons of lithium – one of the key materials for electric-vehicle batteries – starting in 2020. Lithium manufacturer Lithium Korea will use 165,000 square meters of land at the Saemangeum Industrial Complex to begin the production of lithium in [...]

Mercedes, BMW, Porsche Fined 70 Billion Won for False Certification Papers

Mercedes, BMW, Porsche Fined 70 Billion Won for False Certification Papers

SEOUL, Nov. 9 (Korea Bizwire) – The local units of Mercedes-Benz, BMW and Porsche have been fined a combined 70.3 billion won (US$63.1 million) for falsifying documents required for government certification that grants them domestic sales, the environment ministry said Thursday. The three foreign automakers were found to have forged certain specifications or types of the vehicles’ parts to make it look as though they meet the local standards, between [...]