SEOUL, August 3 (Korea Bizwire) — South Korea’s demand-responsive transport (DRT) system has made its European debut in Hungary, marking a milestone in the country’s push to export advanced mobility solutions. The Ministry of Economy and Finance announced Sunday that a pilot project for the Korean-style DRT system officially launched on July 31 in Gödöllő, [...]
SEOUL, July 30 (Korea Bizwire) — August has emerged as the deadliest month for drowsy driving-related fatalities in South Korea, with the summer vacation season and long-distance travel contributing to a sharp rise in accidents, according to data released Wednesday by the National Police Agency. Between 2020 and 2024, a total of 9,559 drowsy driving [...]
SEOUL, July 28 (Korea Bizwire) — Hyundai Motor’s move to localize auto parts production in the United States in response to steep U.S. tariffs is casting a shadow over South Korea’s auto parts industry, sparking concerns of declining exports and weakened domestic supply contracts. In its second-quarter earnings call on July 24, Hyundai confirmed it [...]
SEOUL, July 25 (Korea Bizwire) — South Korea’s automotive parts sector continues to grow in both scale and profitability, but remains behind global competitors in key performance metrics such as profitability and research investment, according to a new report from the Korea Automotive Technology Institute. The report, released Thursday, analyzed 213 domestic parts manufacturers—including major [...]
SEOUL, July 24 (Korea Bizwire) – South Korean prosecutors have requested a 150 million won ($115,000) fine for Trevor Hill, former CEO of Audi Volkswagen Korea (AVK), in connection with the automaker’s diesel emissions manipulation scandal. During Hill’s first court hearing on Thursday at the Seoul Central District Court, prosecutors charged him with violating South [...]
SEOUL, July 23 (Korea Bizwire) — Kia Corp. has unveiled key features of its PV5 purpose-built vehicle (PBV), highlighting the model’s class-leading interior space but with compact exterior dimensions, the company said Wednesday. The PV5 is a mid-sized PBV built on Hyundai Motor Group’s dedicated electric platform E-GMP.S, and designed to serve both personal and [...]
SEOUL, July 22 (Korea Bizwire) — Hyundai Motor Group said Tuesday it will supply official vehicles for high-level Asia-Pacific Economic Cooperation (APEC) ministerial meetings to be hosted by South Korea next month. The automotive group signed an agreement with the Ministry of Trade, Industry and Energy to provide official vehicles for the 15th APEC Energy [...]
SEOUL, July 22 (Korea Bizwire) — Hyundai Motor Group’s electric vehicle (EV) exports to the United States plummeted by 88% in the first five months of 2025 compared to the same period last year, reflecting the combined impact of local production ramp-up and sluggish U.S. sales. According to the Korea Automobile & Mobility Association (KAMA), [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s imported car market is on a sharp rebound in 2025, reversing a two-year contraction as demand for eco-friendly and high-end models soars, supported by a wave of new releases and increased purchases by consumers in their 40s and corporate buyers. According to the Korea Automobile Importers & [...]
SEOUL, July 21 (Korea Bizwire) — Hyundai Motor and Kia are forecast to post lackluster second-quarter earnings this week, as newly imposed U.S. tariffs on specific automotive categories weigh on profitability despite modest revenue growth. According to South Korean auto industry sources on Monday, Hyundai is scheduled to announce its Q2 results on July 24, [...]