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GM Plant Closure to Undercut South Korean Automobile Industry’s Competitiveness

GM Plant Closure to Undercut South Korean Automobile Industry’s Competitiveness

SEOUL, Feb. 13 (Korea Bizwire) – GM Korea’s decision to close one of its manufacturing plants is expected to undercut the South Korean automobile industry’s competitiveness on the world stage. Reports that General Motors will shutter its Gunsan facility – one of its four car assembly plants in South Korea – over low demand come [...]

Hyundai Motor Launches All-New Veloster in Domestic Market

Hyundai Motor Launches All-New Veloster in Domestic Market

SEOUL, Feb. 12 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker by sales, on Monday launched the all-new Veloster coupe in the domestic market in a move to diversify its product lineup. The one-plus-two-door Veloster comes with 1.4-liter turbo and 1.6-liter turbo gasoline engines at prices ranging from 21 million won (US$19,000) to a little over 24 million won, Hyundai Motor said in a statement. The 1.6 and 1.4 [...]

Rising Costs Fueling Concerns Among Carmakers in S. Korea

Rising Costs Fueling Concerns Among Carmakers in S. Korea

SEOUL, Feb. 12 (Korea Bizwire) — Rising costs have become a growing source of concern for carmakers operating in South Korea, with GM Korea Co. now eyeing financial assistance from the government here, an association said Monday. Carmakers in the country generally have lower hourly vehicle production rates than rivals in Japan and the United [...]

Kia Unveils New Compact SUV in India

Kia Unveils New Compact SUV in India

NEW DELHI, Feb. 7 (Korea Bizwire) – Kia Motors Corp., South Korea’s second-largest automaker by sales, rolled out a new compact SUV concept in India on Wednesday, heralding its full-fledged foray into the local market. The compact SP SUV concept was showcased at the 14th Auto Expo 2018, India’s largest motor show that kicked off near New Delhi for a week long run. Kia said the spacious compact SUV with a sleek design is the [...]