SEOUL, Dec. 6 (Korea Bizwire) – Concerns persist regarding the urea crisis, as Chinese authorities have imposed a blockade on urea exports to South Korea, with speculation that this situation may extend into the first quarter of next year. The sudden suspension of industrial urea clearance from China to South Korea has intensified the supply chain [...]
SEOUL, Dec. 4 (Korea Bizwire) – Kia’s compact recreational vehicle (RV), the Ray, has achieved a noteworthy milestone by securing its highest annual sales on record this year. As per the November sales report disclosed by Kia on Sunday, the Ray witnessed a surge in sales, with 4,587 units sold in the domestic market last month—an [...]
WASHINGTON, Dec. 1 (Korea Bizwire) – The United States on Friday released proposed guidance defining a “foreign entity of concern (FEOC)” in a move to clarify its rules meant to block tax credits for electric vehicles (EVs) with battery components and critical minerals from China. The Treasury and Energy Departments announced the long-awaited rules of [...]
SEOUL, Nov. 29 (Korea Bizwire) – In a groundbreaking reveal that is expected to herald a complete paradigm shift in vehicle propulsion, Hyundai and Kia have revealed a new drive system that integrates essential vehicle components within the wheel. This innovation liberates the space between the wheels, allowing for the implementation of novel designs or the [...]
SEOUL, Nov. 28 (Korea Bizwire) – In a strategic move set to redefine its presence in the domestic market, GM Korea is on the verge of achieving a noteworthy 20 percent share of South Korea’s automotive exports, bolstered by strong sales of the Trailblazer and Trax Crossover. In an industry where the combined market share of [...]
SEOUL, Nov. 27 (Korea Bizwire) — Euisun Chung, chairman of South Korea’s Hyundai Motor Group, has been named the auto industry’s leader of the year by U.S. magazine Automotive News, according to the group on Monday. Chung was given the most prestigious honor among 38 key figures within the global automotive industry included in the [...]
SEOUL, Nov. 23 (Korea Bizwire) — Hyundai Motor Co., South Korea’s leading automaker, said Thursday it has partnered with University College London (UCL) to pursue joint research projects involving carbon-neutral future technologies. Under a memorandum of understanding signed in London on Wednesday (local time), Hyundai and UCL will cooperate in areas of research and development [...]
SEOUL, Nov. 23 (Korea Bizwire) – Thanks to record-breaking earnings, Hyundai Motor and Kia Corp. have surpassed Samsung Electronics in charitable donations so far this year, marking a historic first. According to CEO Score, which monitors corporate management activities, a total of 264 out of the country’s top 500 firms by sales collectively donated 1.4 trillion [...]
SEOUL, Nov. 23 (Korea Bizwire) – The launch event for KG Mobility’s Torres took place in the Giza district of Cairo on Monday, against the iconic backdrop of the pyramids. The gathering drew over 500 attendees, comprising local media, influencers, and dealers. Ahmed Abou Khouf, chairman of Arabiat Egypt, a local dealer, expressed his enthusiasm, stating, [...]
SEOUL, Nov. 22 (Korea Bizwire) — Hyundai Motor Group’s autonomous vehicle joint venture in the United States plans to manufacture its self-driving electric vehicles in the group’s newly launched innovation hub in Singapore, the company said Wednesday. Motional, the joint venture established between Hyundai and U.S. mobility startup Aptiv in 2020, will produce its all-electric [...]