SEOUL, Nov. 27 (Korea Bizwire) – A second Trump administration could reshape the global automotive industry into an oligopolistic structure, with only a few dominant players surviving based on their hybrid vehicle technology, U.S. production capacity, and ability to benefit from sanctions against China, industry analysts say. Industry analysts expect traditional automakers to face a survival-of-the-fittest [...]
SEOUL, Nov. 27 (Korea Bizwire) – Toyota Korea announced on November 26 the official launch of its 2025 Camry Hybrid, which will be available at Toyota dealerships nationwide from December 2. The Camry, first introduced to the Korean market in 2009, has been a global favorite for over 40 years due to its high quality and [...]
SEOUL, Nov. 26 (Korea Bizwire) – In a significant push to expand its footprint in Southeast Asia, Hyundai Motor Company has announced a $479 million (approximately 673 billion won) investment in Malaysia. This strategic move aims to capitalize on the region’s burgeoning automotive market, with production beginning in mid-2024. Hyundai will collaborate with local partner Inokom [...]
SEOUL, Nov. 25 (Korea Bizwire) – Genesis announced the launch of its Proactive Care Service on Saturday, a cutting-edge offering aimed at improving the driving experience for its customers through real-time remote diagnostics. The service proactively detects vehicle malfunctions or irregularities during operation and provides notifications via the My Genesis app or SMS. Depending on the [...]
SEOUL, Nov. 25 (Korea Bizwire) — Hyundai Motor Group’s chief has mentioned the possibility of collaboration with Japan’s Toyota Motor Corp. in areas involving hydrogen-powered mobility. Euisun Chung, executive chair of Hyundai Motor, said, “(Hyundai and Toyota) are discussing hydrogen and trying to collaborate well together.” Chung made the remark Sunday while meeting with reporters [...]
SEOUL, Nov. 25 (Korea Bizwire) – Following the devastating Mercedes-Benz EQE fire in an Incheon apartment complex parking garage last August, which damaged approximately 800 vehicles, concerns about rising auto insurance premiums have become reality, even as traffic accidents and fatalities decline. According to the Korea Automobile Citizens’ Association, traffic fatalities have dropped by half, from [...]
SEOUL, Nov. 22 (Korea Bizwire) – Mercedes-Benz Korea announced on Friday that its ultra-luxury sub-brand, Mercedes-Maybach, has achieved cumulative sales of over 10,000 units in South Korea. This milestone comes nearly two decades after its introduction to the domestic luxury sedan market with the Maybach 57 and Maybach 62 in June 2004. The 10,000th unit sold [...]
SEOUL, Nov. 21 (Korea Bizwire) – South Korea’s leading carmaker Hyundai Motor Co. has unveiled its first-ever large-sized all-electric Ioniq 9 sport utility vehicle (SUV) in a world premiere event held in the United States, the company said Thursday. The event was held at Goldstein House in Los Angeles on Wednesday (U.S. time) to showcase [...]
SEOUL, Nov. 20 (Korea Bizwire) – Hyundai and Kia vehicles have been recognized for maintaining excellent value as used cars in the United States, earning high marks for residual value. The automakers announced on November 20 that the Hyundai Kona Electric and Kia Telluride were named winners in J.D. Power’s 2025 U.S. ALG Residual Value Awards. [...]
SEOUL, Nov. 20 (Korea Bizwire) – In a groundbreaking shift that signals South Korea’s gradual departure from its traditional corporate culture, Hyundai Motor Company has named José Muñoz as its first non-Korean chief executive officer in its 57-year history, marking a significant milestone for one of the country’s most prestigious companies. The appointment of Muñoz, who [...]