SEOUL, Jan. 16 (Korea Bizwire) — For the first time since the 1997-1998 Asian financial crisis, South Korea’s imported car market has experienced a two-year consecutive decline in sales. According to the Korea Automobile Importers & Distributors Association (KAIDA) on January 15, the number of newly registered imported passenger vehicles in 2024 totaled 263,288 units, marking [...]
SEOUL, Jan. 16 (Korea Bizwire) — KG Mobility Corp. said Thursday that it has signed a technical cooperation agreement with Phinia Delphi France SAS to jointly develop hydrogen engine technology. Under the agreement, the companies will cooperate in a South Korean government project involving the development of a low-cost commercial hydrogen engine together with the [...]
SEOUL, Jan. 15 (Korea Bizwire) — The South Korean government unveiled new measures on Wednesday to bolster the competitiveness of eco-friendly vehicles and secondary batteries, focusing on expanding electric vehicle (EV) charging infrastructure and extending highway toll discounts for electric and hydrogen vehicles. As part of this initiative, the government plans to introduce medium-speed EV chargers [...]
SEOUL, Jan. 15 (Korea Bizwire) — BMW Group Korea marked its 30th anniversary in 2025, commemorating three decades of success and growth in the South Korean market. Established in July 1995 as the first wholly-owned local subsidiary of a foreign automaker in Korea, BMW Korea has significantly expanded its presence through strategic investments and market leadership. [...]
CHANGWON, Jan. 15 (Korea Bizwire) — Korea Electrotechnology Research Institute (KERI) has announced the development of a high-efficiency, flexible metal fiber fabric heating element, potentially revolutionizing electric vehicle (EV) interior heating systems. The research team, led by Dr. Dong-Yoon Lee, unveiled this innovation on January 14, 2025. This technology aligns with Hyundai Motor Group’s 2022 [...]
SEOUL, Jan. 15 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it seeks to sell at least 58,000 units of its newly facelifted Palisade SUV in the domestic market by leveraging its hybrid and new nine-seat variants. The newly overhauled Palisade comes six years after the model’s debut in November 2018. The 2.5 turbo gasoline [...]
SEOUL, Jan. 14 (Korea Bizwire) — Audi Korea has announced its most ambitious product launch schedule since entering the Korean market in 2004, with plans to introduce 16 new models this year alongside an expansion of its sales and service network to better meet customer needs. The announcement came during the company’s New Year media roundtable [...]
SEOUL, Jan. 13 (Korea Bizwire) — Chinese electric vehicle (EV) manufacturers, led by global EV sales leader BYD, are preparing to enter the South Korean market in 2025, raising questions about their potential impact on the domestic auto industry. Experts remain divided on whether Chinese brands will struggle to gain traction or disrupt the market with [...]
SEOUL, Jan. 12 (Korea Bizwire) — Chinese electric vehicle giant BYD is set to officially enter South Korea’s passenger car market with the launch of its compact electric SUV, the Atto 3. The brand inauguration event is scheduled for January 16, 2025, signaling BYD’s aggressive push into the competitive Korean automotive landscape. Industry sources revealed that [...]
SEOUL, Jan. 10 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s leading battery maker, said Friday it has signed a seven-year battery supply deal with U.S. electric vehicle startup Aptera Motors Corp. LG Energy signed a three-way agreement with Aptera Motors and Korean battery pack maker CTNS to provide the U.S. company with its [...]