SEOUL, Feb. 26 (Korea Bizwire) — Global automakers are rolling out lower-priced electric vehicles this year despite facing a temporary plateau in demand, known in the industry as a “chasm.” The strategy aims to attract cost-conscious consumers while securing market share ahead of widespread EV adoption. According to industry sources on February 24, Kia plans to unveil [...]
SEOUL, Feb. 25 (Korea Bizwire) — The cumulative number of hybrid vehicles registered in South Korea surpassed 2 million for the first time last year, government data showed Tuesday. The total number of registered hybrid vehicles in the country reached 2,024,481 as of the end of 2024, exceeding the 2 million mark for the first [...]
ULSAN, Feb. 25 (Korea Bizwire) — U.S. President Donald Trump’s recent threat to impose steep tariffs on imported vehicles has sent shockwaves through Ulsan, South Korea’s automotive manufacturing powerhouse, where cars account for nearly a third of the city’s exports and form the backbone of the local economy. According to data from the Korea International Trade [...]
SEOUL, Feb. 24 (Korea Bizwire) — Volvo Construction Equipment Korea (Volvo CE Korea) has announced the launch of its next-generation articulated dump trucks, the A35 and A45, tailored specifically for challenging terrains in the domestic market. The new A35 and A45 models, weighing 35 tons and 42 tons respectively, feature advanced electronic control systems and transmissions [...]
SEOUL, Feb. 24 (Korea Bizwire) — Hyundai Motor Group said Monday that it will host a software developer conference next month in Seoul as part of efforts by the automotive giant to transition to a software-defined vehicle manufacturer and expand its application ecosystem. The Pleos 25 conference will be held at COEX in southern Seoul [...]
SEOUL, Feb. 24 (Korea Bizwire) — Muan International Airport, which had been completely closed due to the Jeju Air passenger plane crash on Dec. 29 last year, has resumed flights for emergency medical care and educational training after 56 days, airport officials said Monday. Aviation authorities permitted flights approved by the airport’s control tower for [...]
SEOUL, Feb. 21 (Korea Bizwire) — HD Hyundai Infracore announced on February 20 that it has successfully completed cold-weather performance testing of its 11-liter hydrogen engine (HX12) in collaboration with Tata Daewoo Mobility. The tests were conducted from February 4 to 14 in Daegwallyeong, Gangwon Province. The testing program evaluated the hydrogen-powered engine’s performance in temperatures [...]
SEOUL, Feb. 21 (Korea Bizwire) — The Kia EV3, a compact electric SUV, has been awarded the title of ‘2025 Car of the Year’ by the Korea Automobile Journalists Association (KAJA), marking a significant milestone for Kia’s push toward the mass adoption of electric vehicles. KAJA, comprising 59 media outlets across newspapers, television, radio, and [...]
SEOUL, Feb. 21 (Korea Bizwire) — LG Electronics Inc. has invested in Silicon Valley-based mobility software startup Apex.AI as part of its broader plans to expand collaborations with software providers in the artificial intelligence (AI) era, the U.S. company said Friday. “LG Electronics, a global innovator in technology and consumer electronics, including vehicle solutions, has [...]
SEOUL, Feb. 21 (Korea Bizwire) — Jose Munoz, the first foreign chief executive officer (CEO) of Hyundai Motor Co., has underscored high-quality products and differentiated strategies as keys to growth, the company said Friday. Munoz shared his strategic vision for the company in a town hall meeting with 15,000 employees at its Namyang R&D Center, [...]