SEOUL, Apr. 11 (Korea Bizwire) – In the first quarter (January-March) of the South Korean automobile market, SUVs and vans, collectively known as RVs (recreational vehicles) locally, captured the top four spots in sales rankings. Hyundai’s Grandeur, which had consistently held a place in the top five, fell to sixth position, leaving no sedans among the [...]
SEOUL, Apr. 10 (Korea Bizwire) – The Hyundai Motor Company announced on April 9 a significant expansion of its trade-in program, offering substantial cash discounts to consumers who trade in their existing vehicles for certified used cars and purchase new Hyundai or Genesis models. The trade-in program allows customers to return their current vehicle to the [...]
SEOUL, Apr. 10 (Korea Bizwire) – Ford Sales Service Korea, the South Korean subsidiary of the American automaker, recorded a staggering net loss of 19.5 billion won in 2023, fueling speculation about the company’s potential exit from the Korean market. According to an audited report released on April 9, Ford’s sales in South Korea plummeted by [...]
SEOUL, Apr. 9 (Korea Bizwire) – South Korea’s second military reconnaissance satellite launched into space this week has made contact with a ground station in the country and is undergoing initial operations normally, the defense ministry said Tuesday. The satellite successfully entered orbit after being launched on a SpaceX Falcon 9 rocket from Florida at [...]
SEOUL, Apr. 8 (Korea Bizwire) – Innocean, a global marketing and communications service provider, has collaborated with Hyundai Motor on an imaginative “Dogbility” campaign showcasing a virtual series of automotive concepts designed for canine companions, the companies announced on April 8. Utilizing generative artificial intelligence, the campaign visualized innovative vehicular features tailored to dogs through [...]
SEOUL, Apr. 8 (Korea Bizwire) — South Korea placed its second military spy satellite in space Monday to beef up its space-based surveillance of North Korea and deter its nuclear and missile threats amid Pyongyang’s own push to launch more satellites. SpaceX’s Falcon 9 rocket launched the reconnaissance satellite from the John F. Kennedy Space [...]
SEOUL, Apr. 8 (Korea Bizwire) — South Korea launched its second indigenous spy satellite on a SpaceX Falcon 9 rocket from Kennedy Space Center in the U.S. state of Florida on Monday (Seoul time), according to the defense ministry. The Falcon 9 lifted off at 8:17 a.m. (7:17 p.m. local time) from the John F. [...]
SEOUL, Apr. 5 (Korea Bizwire) –Mercedes-Benz Korea defied a drop in sales volumes last year to post record revenue nearing 800 billion won, buoyed by strong demand for its premium models costing over 100 million won apiece, the company’s financial filings showed. In its 2023 audited financial statements released on April 3, the German automaker’s [...]
SEOUL, Apr. 5 (Korea Bizwire) — Hanwha Aerospace Co., a South Korean defense company, said Friday it will focus on the defense and aviation business after spinning off two affiliates by September. Hanwha Aerospace will spin off its two wholly owned units — artificial intelligence solutions firm Hanwha Vision and semiconductors equipment maker Hanwha Precision [...]
SEOUL, Apr. 4 (Korea Bizwire) – Hyundai Mobis, a leading automotive parts supplier, announced on April 4 the launch of a button-integrated smart key in the form of a slim card, designed for enhanced portability and convenience. While card-style smart keys have previously been used in certain export models of the Genesis brand, this marks [...]