SEOUL, June 27 (Korea Bizwire) – South Korea’s auto parts sector is bracing for intensified export headwinds as the United States signals a possible expansion of its 25% import tariffs on vehicle components, deepening concerns in an industry already grappling with high trade barriers. On June 24, the U.S. Department of Commerce’s International Trade Administration [...]
SEOUL, June 26 (Korea Bizwire) — Genesis, the independent luxury brand of South Korea’s Hyundai Motor Group, said Thursday it has entered into an expanded global marketing partnership with the PGA Tour through 2030. The multiyear agreement names Genesis as the first-ever global official vehicle company for both the PGA Tour and PGA Tour Champions, [...]
SEOUL, June 26 (Korea Bizwire) — In a year defined by economic uncertainty and global industry shifts, Hyundai Motor Group stood out as South Korea’s most impactful corporate force—fueling growth across sectors and surpassing all other conglomerates in total economic contribution. According to data released Thursday by corporate tracker CEO Score, the automotive giant generated [...]
SEOUL, June 25 (Korea Bizwire) – Once the dominant force in South Korea’s imported vehicle market, diesel-powered passenger cars are facing a steep decline as consumers increasingly turn to cleaner alternatives. According to data released Tuesday by the Korea Automobile Importers & Distributors Association (KAIDA), only 1,469 imported diesel passenger vehicles were sold in South [...]
SEOUL, June 24 (Korea Bizwire) — While global consumers continue to favor monochromatic car colors, South Korean buyers are increasingly opting for vibrant, expressive hues, according to a new report by global coatings manufacturer Axalta. The report, released on June 22, shows that in 2024, 24% of cars sold in South Korea featured chromatic (non-neutral) [...]
SEOUL, June 22 (Korea Bizwire) — Hyundai Motor Co.’s vehicle exports from its U.S. plant plunged last month, industry data showed Sunday, as the company accelerates production realignment strategies to cope with rising tariff tensions. Hyundai Motor Manufacturing Alabama (HMMA), a U.S. production unit of the South Korean automaker, exported just 14 vehicles in June, [...]
SEOUL, June 19 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp. on Thursday signed a memorandum of understanding (MOU) with the government to jointly develop and commercialize a next-generation connected digital tachograph for commercial vehicles, the automakers said Thursday. The automakers, together with the transport ministry and the state-run Korea Transportation Safety Authority, plan [...]
SEOUL, June 16 (Korea Bizwire) — For the second year running, Hyundai Motor Group has taken the crown as the top-performing global automotive group in the U.S. Insurance Institute for Highway Safety’s (IIHS) annual crash safety evaluations—a testament to the company’s deepening commitment to vehicle safety in an increasingly competitive and regulated market. This year, the [...]
SEOUL, June 16 (Korea Bizwire) — After completing a successful safety trial, Seoul will expand its late-night autonomous taxi service to cover all of the Gangnam district starting June 16, city officials announced Sunday. The program, launched in September 2024 as South Korea’s first public self-driving taxi pilot, currently operates between select neighborhoods such as Yeoksam, [...]
SEOUL, June 13 (Korea Bizwire) — Hyundai Motor Group said Friday that its U.S.-based autonomous driving joint venture, Motional, has officially appointed robotics and artificial intelligence (AI) expert Laura Major as its president and chief executive officer (CEO). Major, who had served as the company’s chief technology officer (CTO) since its founding in 2020, was [...]