SEOUL, Mar. 21 (Korea Bizwire) – South Korea’s exports of eco-friendly vehicles, including hybrid and electric cars, experienced a significant decline in February, marking the first contraction in over three years, a concerning trend given the country’s rising dependence on electric vehicle (EV) exports. According to data released on March 20 by the Korea Automobile Manufacturers [...]
SEOUL, Mar. 19 (Korea Bizwire) –Hyundai’s Ioniq 5 and Kia’s EV6 muscled their way into the top 10 best-selling electric vehicles in the United States last year, carving out a foothold in a market dominated by Tesla. According to data from the market research firm S&P Global Mobility, the Ioniq 5 registered 31,286 sales in [...]
SEOUL, March 19 (Korea Bizwire) – Kakao Mobility Corp., South Korea’s top taxi-hailing service operator, has been pushing for plans to reappoint its CEO, despite the state financial regulator’s recommendation to replace him amid allegations of accounting fraud, industry sources said Tuesday. In a general shareholders’ meeting slated for next week, Kakao Mobility will carry [...]
SEOUL, Mar. 19 (Korea Bizwire) — Hyundai Motor Co., South Korea’s leading automaker, said Tuesday it has been named an official sponsor of the U.S. Major League Baseball (MLB) World Tour Seoul Series set to open in South Korea this week. The tour features regular MLB season games played in various countries, with this year’s [...]
SEOUL, Mar. 18 (Korea Bizwire) – With their vehicles commanding prices of over 300 million won apiece, the world’s most elite automakers are accelerating their courtship of South Korea’s luxury car market, unveiling custom programs, flagship brand centers and exclusive limited editions. Even as overall imported car sales dipped last year amid economic headwinds, demand for [...]
SEOUL, March 17 (Korea Bizwire) – Hyundai Motor Co. and Kia Corp., South Korea’s biggest carmakers, have sold more than an accumulated 5 million eco-friendly vehicles in the global market over the past 15 years, company officials said Sunday. The two companies sold a total of 5.11 million units of eco-friendly cars, including hybrid electric [...]
JEJU, Mar. 15 (Korea Bizwire) – Kakao Mobility, in collaboration with the startup RideFlux and the Jeju Free International City Development Center (JDC), announced on March 15 the launch of an autonomous driving service named ‘NEMO ride’ around a high-tech complex on Jeju Island. Designed to alleviate transportation challenges in areas known for heavy traffic congestion [...]
SEOUL, Mar. 14 (Korea Bizwire) – The introduction of a distinctive “lime green” license plate system for corporate vehicles earlier this year has led to a significant drop in the registration of high-end imported corporate cars in South Korea. The rush by companies to purchase these vehicles before the new regulations took effect also appears to [...]
SEOUL, Mar. 8 (Korea Bizwire) –Hyundai Motor has announced the introduction of a trade-in program for electric vehicles (EVs) in the South Korean market, aimed at increasing EV sales by offering competitive incentives to customers. Starting from March 1, purchasers of Hyundai EVs, including models like the Ioniq 5 and 6, and the Kona Electric, [...]
SEOUL, Mar. 7 (Korea Bizwire) — Hyundai Motor Co., BMW Korea and two other carmakers will recall nearly 70,000 vehicles due to faulty components, the transport ministry said Thursday. The four companies, including Kia Corp. and Stellantis Korea, are voluntarily recalling a total of 69,044 units of 43 different models, the Ministry of Land, Infrastructure [...]