SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s auto exports jumped 16.4 percent on-year in 2022 to a record high on the back of the popularity of local brands in the global market and growing demand for eco-friendly vehicles, the industry ministry said Monday. The value of exported vehicles came to US$54.1 billion last year, [...]
SEOUL, Jan. 30 (Korea Bizwire) — General Motors Co. said Monday it will launch the all-new global product Trax Crossover in South Korea and a Cadillac electric vehicle (EV) this year, a move that underscores its commitment to the Korea market. GM plans to introduce six new and upgraded models, including the Trax Crossover and [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s exports of passenger cars rose 15 percent on-year in 2022 to reach a record high, data showed Monday, on the back of robust shipments of eco-friendly models. Carmakers shipped passenger cars worth a combined US$49 billion in 2022, up from $42.6 billion tallied a year earlier, according [...]
SEOUL, Jan. 30 (Korea Bizwire) — Hyundai Motor Group said Sunday that the video it produced to help the treatment of abused children surpassed the 20 million mark in YouTube views. Starting in 2015, the South Korean carmaker has carried out a video campaign called “Heals on Wheels” that highlights the valuable social application of [...]
SEOUL, Jan. 27 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Friday its fourth-quarter net profit soared 63 percent from a year earlier on improved chip supplies, strong demand for its high-end SUVs and a weak won. Net profit for the three months ended Dec. 31 jumped to 2.037 trillion won (US$1.65 billion) [...]
SEOUL, Jan. 27 (Korea Bizwire) — A Seattle City attorney has filed a lawsuit against Hyundai Motor Co. and its affiliate Kia Corp. for the lack of anti-theft technology in some of their models, the carmakers said Friday. In the suit filed in the federal court, Seattle City Attorney Ann Davison argued the carmakers’ failures [...]
SEOUL, Jan. 27 (Korea Bizwire) — Hyundai Motor Co. has announced plans to hire new factory workers for the first time in a decade, and the news has caused a stir among not just unemployed job seekers, but also public servants and those who already have stable jobs at state-run firms and large private companies. [...]
SEOUL, Jan. 26 (Korea Bizwire) — Hyundai Motor Co. said Thursday its fourth-quarter net profit more than doubled from a year earlier on improved chip supplies, strong demand for its high-end SUVs and a weak won. Net profit for the three months ended Dec. 31 jumped to 1.709 trillion won (US$1.38 billion) from 701.37 billion [...]
SEOUL, Jan. 25 (Korea Bizwire) — Sales of luxury imported cars priced over 100 million won (US$81,100) set a new record in South Korea last year. The Korea Automobile Importers & Distributors Association reported that 71,899 luxury vehicles priced over 100 million won were sold last year, an increase of 10.3 percent from the previous [...]
SEOUL, Jan. 25 (Korea Bizwire) — Liquefied petroleum gas (LPG)-powered cars are gradually losing their presence with the growing prevalence of electric and hybrid vehicles, after years of enjoying popularity in the South Korean automobile market thanks to low fuel costs and low emissions. According to statistics from the Ministry of Land, Infrastructure and Transport, [...]