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S. Korea’s Car Production Falls in 2018 to World’s 7th

S. Korea’s Car Production Falls in 2018 to World’s 7th

SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s auto production tumbled for a third consecutive year in 2018 amid weaker domestic and global demand, data showed Sunday. According to the data by the Korea Automobile Manufacturers Association (KAMA), South Korea produced 4.03 million vehicles last year, down 2.1 percent from the previous year. The figure [...]

SsangYong Motor Tests Partially Self-driving System on Its New SUV

SsangYong Motor Tests Partially Self-driving System on Its New SUV

SEOUL, Feb. 8 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Friday that it has successfully tested a partially self-driving system on its upcoming sport utility vehicle set to be unveiled in March. The automaker has been developing the midsize SUV under the project name [...]

S. Koreans Prefer White Cars, Study Shows

S. Koreans Prefer White Cars, Study Shows

SEOUL, Feb. 7 (Korea Bizwire) — A recent study has revealed that South Korean customers typically prefer white cars, and tend to purchase vehicles painted in achromatic tones. Axalta Coating Systems Ltd, a multinational coatings provider, said that one out of three vehicles sold in South Korea was white, followed by gray (21 percent), black [...]

Hyundai, Kia Moving Global Production Facilities to Emerging Markets

Hyundai, Kia Moving Global Production Facilities to Emerging Markets

SEOUL, Feb. 6 (Korea Bizwire) — South Korea’s two largest carmakers, Hyundai Motor Co. and Kia Motors Corp., are moving their global production facilities to emerging markets in anticipation of future growth potential, industry data showed Wednesday. According to the Korea Automobile Manufacturers Association (KAMA), the two flagship companies of Hyundai Motor Group are paying [...]

S. Korean Carmakers Bet Big on SUVs after Weak 2018 Results

S. Korean Carmakers Bet Big on SUVs after Weak 2018 Results

SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s three listed carmakers are betting big on sport-utility vehicles (SUVs) to bolster sales in 2019 after posting lower-than-expected earnings results last year.  With ongoing trade friction between the United States and China and the global economy slowing down, Hyundai Motor Co., Kia Motors Corp. and SsangYong Motor [...]

Carpooling Services to Begin Once Deal Is Reached with Taxi Industry: Official

Carpooling Services to Begin Once Deal Is Reached with Taxi Industry: Official

SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s finance minister said Wednesday that local carpooling services will only get off the ground after an understanding is reached between Kakao Mobility Corp. and representatives from the taxi industry. The comments by Hong Nam-ki came nearly two weeks after a taxi task force decided to join a [...]