SEOUL, March 27 (Korea Bizwire) – The South Korean government announced on March 26 an expanded loan program offering interest rate subsidies to small and medium-sized manufacturers of eco-friendly vehicle components, part of its ongoing push to strengthen the nation’s green automotive sector. Under the program, eligible companies can receive loans of up to 10 [...]
SEOUL, March 27 (Korea Bizwire) — Hyundai Motor Group on Wednesday (U.S. time) celebrated the opening of its new electric vehicle (EV) factory in Georgia, reinforcing its commitment to expanding production localization in the United States. Hyundai Motor Group Metaplant America (HMGMA) will serve as a strategic production base to drive the company’s global growth [...]
SEOUL, March 26 (Korea Bizwire) — The number of imported vehicles registered in South Korea has exceeded 3.5 million for the first time, marking a significant milestone in the nation’s evolving automotive landscape. According to data released Wednesday by the Korea Automobile Importers & Distributors Association (KAIDA), a total of 3,508,876 imported vehicles were registered as [...]
SEOUL, March 26 (Korea Bizwire) — A South Korean court has ordered an examination of vehicle component data in a high-profile lawsuit involving an apartment security guard who crashed a Mercedes-Benz while moving the vehicle for parking management. The case centers on allegations of sudden unintended acceleration. On Tuesday, Judge Jeong Sun-hee of the Seoul [...]
WASHINGTON, March 24 (Korea Bizwire) — South Korean conglomerate Hyundai Motor Group said Monday it will invest US$21 billion in the United States through 2028, as U.S. President Donald Trump is ramping up tariff pressure to boost domestic manufacturing. The group’s Executive Chair Euisun Chung, alongside Trump and Louisiana Gov. Jeff Landry, made the announcement [...]
WASHINGTON, March 24 (Korea Bizwire) — Hyundai Motor Group is set to unveil a $20 billion investment plan in the United States, marking the largest commitment by a South Korean company since the start of Donald Trump’s second presidential term. According to reports from Reuters and CNBC, the announcement will be made later Monday at the [...]
SEOUL, March 24 (Korea Bizwire) — South Korea’s largest automotive giant Hyundai Motor Group is set to reach a major milestone of 30 million cumulative vehicle sales in the United States this year, continuing its steady growth in the key overseas market, the group said Monday. Since their entry into the U.S. market in 1986, [...]
SEOUL, March 23 (Korea Bizwire) — Kia’s compact electric SUV, the EV3, has quickly become a dominant force in South Korea’s electric vehicle market, securing the top sales position this year and demonstrating broad appeal across age groups. According to industry data released Sunday, Kia sold 429 units of the EV3 in January and 2,257 in [...]
SEOUL, March 21 (Korea Bizwire) — After facing a surge in thefts that tarnished their reputation in the American market, Hyundai and Kia have seen a dramatic turnaround, with vehicle theft rates dropping significantly following the implementation of enhanced anti-theft measures. According to data from the National Insurance Crime Bureau (NICB), reported by Reuters on [...]
SEOUL, March 21 (Korea Bizwire) — Hyundai Motor Group is accelerating efforts to expand its production footprint in the United States, amid U.S. President Donald Trump’s continued call for foreign companies to manufacture in the country to do business there, according to industry observers Friday. According to the industry sources, the group plans to hold [...]