SEOUL, Mar. 6 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automakers, said Wednesday they showcased the latest technologies involving their electric vehicles (EV) at the annual EV Trend Korea exhibition held in Seoul. The annual trade show, now in its seventh year, is hosted by the Ministry of Environment to [...]
SEOUL, March 4 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., said Monday its vehicle sales rose nearly 17 percent in February from a year earlier thanks to strong demand from both home and abroad. GM Korea sold 30,630 vehicles last month, up 16.9 percent from 26,191 units from [...]
SEOUL, Mar. 4 (Korea Bizwire) — Kumho Tire Co., South Korea’s second-largest tire maker, said Monday it has forged a technology licensing agreement with Saudi Arabian tire maker Blatco Co. Under the agreement, Kumho Tire will provide Blatco with technology support for the production of passenger car tires sold in Saudi Arabia and the Middle [...]
SEOUL, Mar. 4 (Korea Bizwire) — Hyundai Motor Co., South Korea’s leading automaker, on Monday announced the release of a redesigned version of its Ioniq 5 electric vehicle. The revamped Ioniq 5 features an increased battery capacity, growing from 77.4 kWh to 84.0 kWh, which in turn increases its all-electric range. It can travel up [...]
SEOUL, Mar. 4 (Korea Bizwire) — The number of eco-friendly car registrations in South Korea surpassed that of liquefied petroleum gas (LPG) models for the first time last year, according to data Monday. According to data from the Ministry of Land, Infrastructure and Transport, cumulative registration of domestic eco-friendly cars, such as hybrids, electric and [...]
SEOUL, March 3 (Korea Bizwire) – South Korea’s first military spy satellite has successfully transmitted “good-resolution” images of central Pyongyang back home following the satellite’s launch in December, military sources said Sunday. The first indigenous South Korean military spy satellite was placed into orbit from Vandenberg Space Force Base in California on Dec. 2, allowing [...]
SEOUL, March 3 (Korea Bizwire) – South Korea’s demand for key minerals is expected to jump up to nineteenfold from 2021 by 2040 due to expansion in the electric car and wind power industries, a report showed Sunday. The demand for lithium, nickel, manganese and cobalt, essential for electric car batteries, will be up by [...]
SEOUL, Feb. 29 (Korea Bizwire) — Imported car purchases among those in their 20s and 30s fell nearly 18 percent on-year in 2023 amid a slowdown of the economy and high interest rates, industry data showed Thursday. According to data from the Korea Automobile Importers & Distributors Association, the number of newly imported cars registered [...]
SEOUL, Feb. 28 (Korea Bizwire) –A recent report has highlighted a significant price disparity between imported and domestic electric vehicles (EVs) in South Korea, with imported models costing more than double on average. The study, conducted by the Korea Automobile Mobility Industry Association (KAMA) and the Korea Imported Automobile Association (KAIDA), also revealed that the [...]
SEOUL, Feb. 26 (Korea Bizwire) — The combined overseas production of Hyundai Motor Co. and Kia Corp. surpassed 3.68 million units in 2023, setting the biggest offshore output since the outbreak of the COVID-19 pandemic, data showed Monday. According to data from the Korea Automobile Manufacturers Association, Hyundai Motor and Kia, South Korea’s leading automakers, [...]