SEOUL, Nov. 13 (Korea Bizwire) — Chinese electric vehicle (EV) giant BYD Co. on Wednesday officially announced its plan to enter South Korea’s passenger car market. BYD Korea, the company’s South Korean sales subsidiary, said in a press release that it has “completed review to release passenger car brands in the domestic market” and officially [...]
SEOUL, Nov. 8 (Korea Bizwire) – Mercedes-Benz Korea has announced the introduction of its first electrified G-Class model, the “All-New Mercedes-Benz G580 with EQ Technology,” marking a significant evolution in its premium SUV lineup. The company revealed on November 7 that it will initially release 70 units of a distinctive limited edition model, the “Edition One,” [...]
SEOUL, Nov. 7 (Korea Bizwire) – The global automotive industry faces significant changes and uncertainties following Donald Trump’s election as the 47th president of the United States on November 6. Hyundai Motor Group, which has relied heavily on U.S. exports for its performance, is particularly on alert as Trump has promised to prioritize domestic industries, strengthen [...]
SEOUL, Nov. 7 (Korea Bizwire) – In a departure from the traditional pattern where economic downturns boost compact car sales, South Korea’s compact vehicle market is experiencing a significant decline, with annual sales expected to fall below 100,000 units for the first time since 2021. According to data from Kais You Data Research Institute, compact car [...]
DAEJEON, Nov. 5 (Korea Bizwire) – In a significant development highlighting South Korea’s dominance in battery technology, patent applications for battery fire safety technologies have surged nineteen-fold over the past decade, according to data released by the Korean Intellectual Property Office on November 3. An analysis of patent applications filed with major patent offices worldwide—including South [...]
SEOUL, Oct. 31 (Korea Bizwire) – New car registrations in South Korea have fallen to their lowest level in 11 years during the first three quarters of 2024, according to data released by the Korea Automobile Mobility & Industry Association (KAMA) on October 30. Total new vehicle registrations for January through September reached 1,209,154 units, marking [...]
SEOUL, Oct. 31 (Korea Bizwire) — Hyundai Motor Co. on Thursday unveiled the concept of its upcoming passenger hydrogen fuel cell electric vehicle (FCEV) named Initium that comes with an extended driving range and ample hydrogen fuel storage capacity. Initium is a concept by Hyundai that reflects the product and design direction of a passenger [...]
SEOUL, Oct. 30 (Korea Bizwire) — Hyundai Motor Co. on Wednesday unveiled a teaser image of its upcoming all-electric Ioniq 9 sports utility vehicle, highlighting its massive-yet-sleek exterior design. The teaser for the three-row electric SUV presents the overall silhouette and the model’s elongated wheelbase. Hyundai said the Ioniq 9 draws inspiration from the sleek [...]
DAEJEON, Oct. 23 (Korea Bizwire) – In a significant move to boost electric vehicle safety, South Korea’s Public Procurement Service (PPS) announced on October 22 comprehensive measures to improve fire safety management and emergency response capabilities for public EV charging facilities. The new guidelines require all future public buildings to have EV charging stations installed at [...]
SEOUL, Oct. 22 (Korea Bizwire) – LG Electronics is ramping up its efforts in the electric vehicle (EV) charging market by introducing advanced safety features to its slow chargers, aiming to alleviate customer concerns and accelerate its domestic EV charging business. The company announced on October 21 that it will implement a dual safety system to [...]