SEOUL, Dec. 14 (Korea Bizwire) – Ssangyong Motor Co., the country’s smallest automaker, said Wednesday it has shipped a total of 6,823 vehicles to Iran in the first 11 months of the year, with the figure expected to top 8,000 units this year. The automaker, the local unit of Indian carmaker Mahindra & Mahindra Ltd., [...]
SEOUL, Dec. 13 (Korea Bizwire) – Leading South Korean automakers Hyundai Motor Company and Kia Motors have taken another step towards commercializing self-driving vehicles. With the memorandum of understanding signed Monday between Hyundai Motor Company, Kia Motors and the city of Hwaseong, the two companies will be able to test vehicles equipped with V2X (or [...]
SEOUL, Dec. 13 (Korea Bizwire) – Embattled Daewoo Shipbuilding & Marine Engineering Co. is expected to receive 2.8 trillion won (US$2.39 billion) from its creditors this month, averting a delisting from the local stock market, industry sources said Tuesday. Last month, the creditors, led by the state-run Korea Development Bank (KDB), decided to provide the [...]
SEOUL, Dec. 13 (Korea Bizwire) – Hyundai Motor Co., South Korea’s leading automaker, said Tuesday that its small-sized engine has been selected as one of the global top 10 engines of the year by a major U.S. automotive magazine. WardsAuto included the Kaffa 1.4 gasoline turbocharged and direct-injected engine used in Hyundai Motor’s Elantra Eco [...]
SEOUL, Dec. 9 (Korea Bizwire) – Samsung Electronics Co. has been granted a patent on the design of a disc-shaped drone, hinting that the electronics giant may make inroads into the booming market for commercial drones, according to South Korea’s patent authority Friday. The patent was filed in April this year and formally registered earlier [...]
SEOUL, Dec. 8 (Korea Bizwire) – Imported car sales in South Korea are expected to suffer an on-year fall this year for the first time in seven years, apparently affected by weaker demand for diesel cars and sales bans of popular models, industry sources said Thursday. A total of 205,162 imported vehicles have been sold [...]
SEOUL, Dec. 6 (Korea Bizwire) – Korean auto parts makers are growing more active overseas, backed by factors ranging from personnel costs to the possible global protectionism that may be triggered by U.S. president-elect Donald Trump in line with his election pledges. Castec Korea, a manufacturer of automobile components that supplies parts to global automakers [...]
SEJONG, Dec. 6 (Korea Bizwire) – South Korea will spend a total of 500 billion won (US$428 million) in the coming three years to foster the rapidly growing drone industry as a new growth engine for Asia’s fourth-largest economy, the trade ministry here said Tuesday. “The drone technology generates massive ripple effects on conventional industries, [...]
SEOUL, Dec. 5 (Korea Bizwire) – A bit of good news for old diesel car owners. Starting Monday, the government is offering an exemption of up to 1.43 million won ($1,217) in new vehicle purchasing taxes for those who junk diesel cars that are over 10 years old, a revision to the Restriction of Special [...]
SEOUL, Dec. 5 (Korea Bizwire) – The Chevrolet Malibu and SM6 midsize sedans have been named safest cars of the year in an annual government safety assessment of new cars launched in South Korea, the transportation ministry said Monday. Both the Chevrolet Malibu and the SM6 received the highest points of 92.1 in the government [...]