SEOUL, March 17 (Korea Bizwire) — Hyundai Motor’s luxury brand Genesis is seeing unprecedented success in the U.S. market, where it accounted for nearly one-third of global sales last year. However, potential tariff barriers under a new Trump administration pose a significant challenge to sustaining this growth. According to Hyundai’s latest Investor Relations (IR) report, Genesis [...]
SEOUL, March 16, 2025 (Korea Bizwire) — Chinese electric vehicle giant BYD has established a new subsidiary in South Korea dedicated to the import and distribution of used cars, signaling an expansion of its presence in the country’s automotive market. According to industry sources, BYD recently set up BYD Korea Auto, a separate entity from BYD [...]
SEOUL, March 10 (Korea Bizwire) — South Korea ranked seventh in the world in terms of domestic vehicle output last year, an industry association said Monday, down one notch from a year earlier due to a drop in output amid an economic slowdown. The country’s domestic car production fell to 4.13 million units in 2024 [...]
SEOUL, March 8 (Korea Bizwire) — As concerns grow over potential U.S. auto tariffs under Donald Trump’s administration, executives and union leaders from GM Korea are set to visit General Motors’ headquarters in the United States to discuss the company’s future operations. According to the GM Korea chapter of the Korean Metal Workers’ Union (KMWU), representatives from both [...]
SEOUL, March 6 (Korea Bizwire) — Hyundai’s Santa Fe has been crowned the ‘Best Car’ at the 2025 Women’s World Car of the Year (WWCOTY) awards, the company announced on March 6. The WWCOTY awards are judged by an all-female panel of 82 automotive journalists from 55 countries across five continents. Vehicles are evaluated based on [...]
SEOUL, March 5 (Korea Bizwire) — Genesis has introduced the G90 Long Wheelbase Black, an exclusive new trim for its flagship sedan, highlighting a bold and sophisticated aesthetic. The automaker announced on Wednesday that sales of the model, along with the updated 2025 G90 lineup, will commence immediately. The G90 Long Wheelbase Black features an all-black [...]
SEOUL, March 5 (Korea Bizwire) — Trial operations of self-driving freight trucks can now be conducted on all highways in South Korea, which could lead to the start of long-haul autonomous commercial logistics services nationwide in the future, the government said Wednesday. The Ministry of Land, Infrastructure and Transport said it has expanded the country’s [...]
MOSCOW, March 4 (Korea Bizwire) — Should economic sanctions against Russia be lifted, South Korea’s Hyundai and Kia are expected to be the first foreign automakers to resume operations in the country, according to Russian industry experts. In an interview with TASS News Agency on March 4, Maxim Kadakov, editor-in-chief of Russian automotive magazine Za Rulem, [...]
SEOUL, March 4 (Korea Bizwire) — Song Ho-sung, president and chief executive officer (CEO) of Kia Corp., on Tuesday expressed confidence in turning increasing global trade and business uncertainties for the South Korean automaker into opportunities for further growth. In a letter to shareholders published on Kia’s website, Song assessed that the globalization trend of [...]
SEOUL, March 2 (Korea Bizwire) — Chinese electric vehicle giant BYD is facing significant roadblocks in its South Korean expansion, with the launch of its first model, the Atto 3, delayed due to unresolved subsidy approvals. The setback has frustrated consumers who had pre-ordered the vehicle expecting deliveries last month. Industry observers suggest that BYD, struggling [...]