SEOUL, March 24 (Korea Bizwire) — South Korea’s largest automotive giant Hyundai Motor Group is set to reach a major milestone of 30 million cumulative vehicle sales in the United States this year, continuing its steady growth in the key overseas market, the group said Monday. Since their entry into the U.S. market in 1986, [...]
SEOUL, March 23 (Korea Bizwire) — Kia’s compact electric SUV, the EV3, has quickly become a dominant force in South Korea’s electric vehicle market, securing the top sales position this year and demonstrating broad appeal across age groups. According to industry data released Sunday, Kia sold 429 units of the EV3 in January and 2,257 in [...]
SEOUL, March 20 (Korea Bizwire) – Jose Munoz, the chief executive officer (CEO) of Hyundai Motor Co., on Thursday highlighted growing trade tensions and protectionism as key challenges for the global automotive industry in 2025, urging strategic adaptability to maintain the company’s growth momentum. Speaking at Hyundai Motor’s annual general shareholders’ meeting in Seoul, Munoz [...]
SEOUL, March 20 (Korea Bizwire) — Tucson, a compact sport utility vehicle (SUV) of Hyundai Motor Co., is posed to surpass 10 million units in cumulative sales this year to become the automaker’s third vehicle to achieve the milestone, according to industry observers Thursday. According to Hyundai Motor’s investor relations data, the Tucson had recorded [...]
SEOUL, March 19 (Korea Bizwire) — Hyundai Mobis is ramping up production of self-designed automotive semiconductors, building on the semiconductor business it acquired from Hyundai Autron in 2020, and expanding its presence in global innovation hubs. The company announced on Tuesday that it has completed research and reliability testing for key semiconductors used in electrification, [...]
SEOUL, March 18 (Korea Bizwire) — GM Korea has officially unveiled the world’s largest GM-owned service center, underscoring the automaker’s long-term commitment to the South Korean market. At a media tour held on Tuesday at the GM Seoul Service Center in Yeongdeungpo, William Henry, GM’s senior vice president for international operations, emphasized the center’s significance. “In [...]
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 [...]