SEOUL, Jan. 17 (Korea Bizwire) – South Korean budget airline Jin Air Co. said Wednesday it posted record earnings in 2023 on strong demand, shaking off the fallout of the coronavirus outbreak. Net income came to an all-time high of 135.8 billion won (US$101 million) on a separate basis last year, the first black ink [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s top carmaker Hyundai Motor Co. said Tuesday it has sold one of its plants in China as part of a business reorganization strategy in the world’s biggest auto market. Beijing Hyundai Motor, Hyundai’s joint venture with China’s Beijing BAIC Motor, sold the Chongqing plant to an industrial [...]
SEOUL, Jan. 17 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automakers, have picked up nine awards at prestigious annual design awards in the United States for their innovative design competitiveness, the companies said Wednesday. Hyundai snagged six top awards at the 2023 Good Design Awards in the transportation category from [...]
SEOUL, Jan. 16 (Korea Bizwire) – Kia Corp., South Korea’s second-largest automaker, plans to launch a sales subsidiary in Thailand but has decided to scrap a plan to establish an assembly plant in the country, according to company officials and sources Tuesday. Kia, part of Hyundai Motor Group, plans to officially launch the Thai subsidiary, [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s car exports jumped 31 percent on-year last year, driven by the growing global demand for premium eco-friendly automobiles, data showed Tuesday. Outbound shipments of cars reached US$70.9 billion in 2023, compared with $54.1 billion a year ago, according to the Ministry of Trade, Industry and Energy. Of [...]
SEOUL, Jan. 15 (Korea Bizwire) — Last December, sales of imported cars valued at over 100 million won in South Korea saw a significant increase compared to the previous month. This surge has been attributed to efforts to avoid the new green license plates, designated for corporate cars worth over 80 million won from January of this [...]
SEOUL, Jan. 15 (Korea Bizwire) — Hyundai Motor Co. said Monday it has launched a mobility-themed game on popular global online platform Roblox to showcase the company’s future vision to young gamers. Titled “Hyundai Future Adventure,” the game consists of six jump-action challenges themed around future mobility. Players take their journey exploring a future-themed park [...]
SEOUL, Jan. 15 (Korea Bizwire) — Efforts are being intensified in South Korea to develop technology that can prevent accidents resulting from drivers mistakenly pressing the accelerator. According to automotive industry sources on January 14, the Korea Transportation Safety Authority (KOTSA) is conducting a technology demand survey until January 26, targeting universities, research institutes, companies, and stakeholders [...]
SEOUL, Jan. 13 (Korea Bizwire) – LG Electronics Inc. said Saturday that it has opened its first plant in the U.S. for electric vehicle (EV) charging stations, as part of its strategy to advance into the fast-growing EV charging solutions business. The factory based in Fort Worth, Texas, has an annual capacity of over 10,000 [...]
SEOUL, Jan. 12 (Korea Bizwire) — Accumulative sales of eco-friendly vehicles produced by Hyundai Motor Co. and Kia Corp., South Korea’s leading automakers, are expected to exceed 1 million units in the first quarter, according to the companies Friday. Accumulative sales of eco-friendly units of Hyundai and Kia combined had amounted to 946,962 units as [...]