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S. Korea to Slap Penalties on Defect Coverups by Carmakers

S. Korea to Slap Penalties on Defect Coverups by Carmakers

SEOUL, Sept. 6 (Korea Bizwire) — The South Korean government said Thursday it will impose penalties on carmakers that cover up manufacturing defects and fine them for delayed recalls. The move comes in the middle of BMW Korea’s recall of 106,317 vehicles in South Korea to fix a faulty part following dozens of engine fires [...]

Hyundai Partners with China Energy Group in Commercial Car JV

Hyundai Partners with China Energy Group in Commercial Car JV

SEOUL, Sept. 3 (Korea Bizwire) — Hyundai Motor Co. said Monday it has partnered with a Chinese energy group in a commercial vehicle joint venture. At its Seoul headquarters Monday, South Korea’s biggest carmaker by sales signed a “strategic partnership” agreement with Sichuan Energy Industry Investment Group to expand into the Chinese commercial vehicle market, [...]

SK Networks to Provide Free Car Rentals for Companies Short on Cash

SK Networks to Provide Free Car Rentals for Companies Short on Cash

SEOUL, Aug. 28 (Korea Bizwire) — SK Networks Co. unveiled a new business operation dubbed “Mobility Bank” aimed at providing free commercial vehicle rentals to companies that cannot afford to rent their own. SK Networks is planning to lend 50 of its Damas vehicles (produced by GM Korea) for free to companies lacking corporate vehicles [...]

BMW Tops List of Registered Imported Cars amid Safety Scandal

BMW Tops List of Registered Imported Cars amid Safety Scandal

SEOUL, Aug. 27 (Korea Bizwire) — German carmaker BMW ranked No. 1 among imported cars registered in South Korea, industry data showed Monday, maintaining its lead despite a string of vehicle fires that have shaken consumer confidence in the brand. According to the data compiled by the Korea Automobile Manufacturers Association and the Korea Automobile [...]