SEOUL, Dec. 23 (Korea Bizwire) — In 2024, South Korea’s import car market has shifted from its traditional “Big Four” structure to a “Big Three,” driven by Tesla’s remarkable sales growth. BMW and Mercedes-Benz continued their rivalry for the top spot, while Tesla secured third place for the first time with sales nearly doubling from 2023. [...]
SEOUL, Dec. 23 (Korea Bizwire) – A record number of vehicles have been recalled in South Korea this year due to manufacturing defects, according to data released by the Korea Transportation Safety Authority’s Auto Recall Center on December 22. The center reported that 5,142,988 vehicles across 1,684 models underwent recalls in 2024, tripling last year’s figure [...]
SEOUL, Dec. 22 (Korea Bizwire) – The Kia Carnival has set a new annual sales record in its 26-year history, thanks to surging demand for its hybrid model. Kia announced on December 22 that the Carnival’s global sales from January to November reached 157,336 units, surpassing the previous high of 155,433 units set in 2002. With [...]
SEOUL, Dec. 22 (Korea Bizwire) – Kia has globally debuted its compact SUV, Syros, in India, marking a significant step in its strategy to expand its presence in emerging markets, the company announced on December 22. Named after the Greek island of Syros, the vehicle aims to embody a blend of tradition and modernity. Sales of [...]
SEOUL, Dec. 20 (Korea Bizwire) – As South Korea braces for its coldest winter yet, electric vehicle (EV) owners are expressing growing frustration over significant drops in driving range during frigid weather. Online forums have been buzzing with complaints, with many surprised by how much their EV range decreases compared to summer. Questions about efficient [...]
SEOUL, Dec. 20 (Korea Bizwire) — The average commuting time for South Korean workers is over 70 minutes per day, but those in the wider Seoul area need to spend nearly 10 more minutes each day to commute, the statistics agency said Friday. The national average commuting time came to 73.9 minutes in 2024, while [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s industry ministry said Wednesday the country plans to implement eased regulations for hydrogen charging stations next year in line with efforts to support the sector’s ecosystem. The set of new rules is reflected in the revised high-pressure gas safety control act, which will be implemented in May, [...]
SEOUL, Dec. 18 (Korea Bizwire) – Over the past three years, South Korea’s leading conglomerates have directed the bulk of their equity investments toward the electric vehicle (EV) battery sector, signaling a strategic focus on securing new growth engines. According to a report by corporate research firm Leaders Index on December 17, South Korea’s top [...]
SEOUL, Dec. 17 (Korea Bizwire) – BYD, the world’s leading electric vehicle (EV) brand, is set to make its official foray into South Korea’s passenger car market. On December 17, South Korean conglomerate Samchully Group announced that its subsidiary, Samchully EV, has signed an official dealership agreement with BYD Korea to introduce the Chinese automaker’s [...]
SEOUL, Dec. 17 (Yonhap) — South Korea’s antitrust regulator said Tuesday it has fined Kakao Mobility Corp., the operator of the country’s top taxi-hailing service, 15.1 billion won (US$10.5 million) for unfair business practices. Kakao Mobility is accused of manipulating its algorithm to direct more ride requests received through its mobile taxi application to cabs under its [...]