SEJONG, Nov. 10 (Korea Bizwire) – Over the past three months, large business groups boasting assets exceeding 5 trillion won have expanded their influence in the automotive and transportation sectors. The Korea Fair Trade Commission recently unveiled the “Status of Changes in Companies Belonging to Large Business Groups (August-October),” revealing that as of November 1, the [...]
SEOUL, Nov. 9 (Korea Bizwire) – The percentage of imported passenger cars in the domestic market is anticipated to drop below 20 percent this year, marking the first decline in four years. This decrease can be attributed to the relative success of domestic passenger car models, particularly Hyundai Motor’s luxury brand, Genesis, and the overall decrease [...]
SEOUL, Nov. 6 (Korea Bizwire) – Hyundai Motor executives recently took the unconventional step of test-driving a Tesla electric car and other luxury models from various manufacturers, garnering considerable attention in the process. This departure from the norm is indicative of Hyundai Motor Group Chairman Chung Eui-sun’s strong belief that the company should prioritize building cars [...]
SEOUL, Nov. 3 (Korea Bizwire) – Sales of imported vehicles in South Korea dropped 15.9 percent in October from a year earlier due to weakened demand for foreign electric vehicle (EV) models, industry data showed Friday. The number of newly registered imported cars last month totaled 21,329 units, compared with 25,363 units a year ago, [...]
SEOUL, Nov. 3 (Korea Bizwire) — Hyundai Motor Group said Friday it hosted an annual mobility forum in Silicon Valley, bringing together key figures from cutting-edge mobility companies and government officials to share ideas of the future of the industry. Under the theme titled “Re-Vision & Re-Value,” the group’s Mobility Innovators Forum 2023 was held [...]
SEOUL, Nov. 2 (Korea Bizwire) – An artificial intelligence-based congestion prediction system will go into pilot service on Seoul’s subway networks this month to monitor the risks of overcrowding, the interior ministry said Thursday. On a project that commenced in June, the ministry’s Integrated Data Analysis Center has developed the AI-based prediction model based on [...]
SEOUL, Nov. 2 (Korea Bizwire) — The board of Asiana Airlines Inc., South Korea’s second-largest air carrier, plans to reconvene Thursday to vote on whether to sell its cargo business, as Korean Air Co. seeks to win antitrust approval from European Union regulators for the takeover of its smaller rival. The meeting comes three days [...]
SEOUL, Nov. 1 (Korea Bizwire) — Seoul Metro, the operator of Seoul subway lines No. 1-8, plans to pilot seatless subway cars next year to alleviate overcrowding during the morning and evening rush hour, officials said Wednesday. Under the pilot project set to commence in January, seats inside two cars of each subway train running [...]
SEOUL, Nov. 1 (Korea Bizwire) — LG Electronics Co. said Wednesday that it will provide its in-vehicle infotainment system for two models of Hyundai Motor Co.’s luxury brand Genesis. The 2024 Genesis G80 and the new GV80 Coupe will be equipped with LG’s webOS for Automotive platform, streaming a variety of content, including YouTube, from [...]
DAEJEON, Nov. 1 (Korea Bizwire) – The Korea Railroad Corporation (KORAIL) has announced a new initiative aimed at enhancing security and preventing illegal hidden camera crimes at train stations in the Seoul metropolitan area. Beginning in November, KORAIL will implement a comprehensive ‘continuous illegal filming detection system’ that will operate 24/7 in the restrooms of four [...]