SEOUL, Jan. 24 (Korea Bizwire) — Genesis, Hyundai Motor Group’s independent luxury brand, said Friday it has unveiled a concept vehicle designed for rescue support tasks in rugged terrains and challenging weather conditions. The GV60 Mountain Intervention Vehicle (MIV) concept was revealed this week at the World Economic Forum 2025 in Davos, Switzerland. It marked [...]
SEOUL, Jan. 23 (Korea Bizwire) — Hyundai Motor weathered a challenging year in 2024, achieving annual revenue of 175.2 trillion won ($125 billion) and operating profit of 14.2 trillion won ($10.1 billion). While these figures represent a 5.9% decline in operating profit compared to the previous year’s record-setting performance, analysts praised the company for mitigating [...]
SEOUL, Jan. 23 (Korea Bizwire) — South Korea plans to strengthen its oversight of low-cost carriers (LCCs) and impose strict penalties on airlines failing to meet enhanced operational safety standards, the government said Thursday, following last month’s Jeju Air crash. In a meeting with CEOs of nine domestic LCCs, including Jeju Air, T’way Air, Eastar Jet [...]
SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s three major battery makers likely made all-time-high investments in research and development (R&D) activities last year despite a slowdown in electric vehicle sales, industry sources said Wednesday. LG Energy Solution Ltd. (LGES), Samsung SDI Co. and SK On are estimated to have invested more than 2.5 trillion [...]
SEOUL, Jan. 22 (Korea Bizwire) — The total number of registered vehicles in South Korea surpassed 26 million units last year, with eco-friendly cars accounting for over 10 percent for the first time, driven by growth in hybrid vehicle sales, the government said Wednesday. According to the Ministry of Land, Infrastructure and Transport, the total [...]
SEOUL, Jan. 22 (Korea Bizwire) — Daemyung Sono Group, a leading condominium and resort company in South Korea, said Wednesday it is seeking to acquire management control of low-cost carrier (LCC) T’way Air Co. to improve the airline’s operations and financial health. Sono International, the holding company of Daemyung Sono Group, said it is ramping [...]
SEOUL, Jan. 22 (Korea Bizwire) — Hyundai Motor Company announced the launch of its 2025 The New Pavise medium-duty truck on January 21, featuring significant upgrades focused on driver comfort and convenience. The Pavise, introduced in August 2019, has been updated with new amenities based on market feedback. The most notable addition to the top-tier Prestige [...]
SEOUL, Jan. 21 (Korea Bizwire) — Automotive industry experts on Tuesday urged the government to revise its ambitious target of deploying 4.5 million zero-emission vehicles by 2030, part of the nation’s greenhouse gas reduction goals, to align with practical realities. Yoon Kyung-sun, executive managing director of the Korea Automobile & Mobility Association (KAMA), called the [...]
SEOUL, Jan. 19 (Korea Bizwire) — Kia Motors achieved its highest-ever electric vehicle (EV) sales in 2024, fueled by robust demand in North America and the success of its large EV models, including the EV9. The company’s global EV sales from January to November reached 184,852 units, a 10.9% increase from the same period in 2023. [...]
SEOUL, Jan. 19 (Korea Bizwire) — Hyundai Motor Company revealed its vision for India’s micro-mobility market at the Bharat Mobility Global Expo 2025, showcasing concept models for three-wheeled and compact four-wheeled electric vehicles (EVs) designed specifically for the country’s unique transportation landscape. Micro-mobility, encompassing electric motorcycles and ultra-compact EVs, plays a critical role in regions like [...]