SEOUL, Jan. 7 (Korea Bizwire) — Jeju Air Co., the embattled low-cost carrier facing intense scrutiny over a recent aircraft crash that claimed 179 lives, said Tuesday it plans to cut 188 international flights departing from Busan in the first quarter, with a total operational reduction plan to be finalized this week. Following the tragic Dec. 29 [...]
SEOUL, Jan. 6 (Korea Bizwire) — Jeju Air Co., the embattled low-cost carrier (LCC) facing intense scrutiny over a recent aircraft crash that claimed 179 lives, recorded the largest number of flight delays among domestic airlines due to maintenance during the first half of 2024, government data showed Monday. According to the data from the [...]
SEOUL, Jan. 6 (Korea Bizwire) – The head of Hyundai Motor Group on Monday emphasized the importance of resilience, innovation and proactive preparation in facing future challenges expected from ongoing global risks, as well as anticipated rollbacks in the electric vehicle (EV) policies of the United States. At a group-wide New Year’s Greetings event held [...]
SEOUL, Jan. 6 (Korea Bizwire) — Genesis, the independent luxury brand of Hyundai Motor Group, on Monday revealed the design of its revamped all-electric GV60 sport utility vehicle (SUV) ahead of its domestic launch in the first quarter. It marks the first time that the GV60 has undergone a redesign since its debut in October [...]
SEOUL, Jan. 5 (Korea Bizwire) — Hyundai Motor Group reported its highest-ever annual sales in the United States last year, cementing its position as the fourth-largest automaker in the market for the second consecutive year. The group, which includes Hyundai, Kia, and the luxury Genesis brand, sold 1,708,293 vehicles in the U.S. in 2024, a [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korea’s five major automakers saw domestic sales in 2024 fall to their lowest level in 16 years, amid high interest rates and weakening demand for vehicles, including electric cars. Despite the slump, Kia achieved a milestone as its Sorento SUV became the nation’s best-selling car—the first time a recreational [...]
SEOUL, Jan. 1 (Korea Bizwire) —GM Korea, buoyed by the strong performance of the Chevrolet Trax Crossover, posted its highest sales in seven years in 2024, the company announced on Friday. The automaker sold 499,559 vehicles globally last year, a 6.7% increase from 2023, marking its highest annual sales since 2017. The growth was largely [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea has introduced a revised subsidy scheme for electric buses in 2025, offering additional financial incentives to manufacturers of hydrogen and school buses while implementing stricter criteria to prioritize safety and transparency. The move is seen as a response to concerns over the growing presence of Chinese-made electric [...]
SEOUL, Jan. 3 (Korea Bizwire) — Five electric vehicle models from Hyundai Motor Group are set to qualify for a $7,500 consumer tax credit under the U.S. Inflation Reduction Act (IRA), a development expected to boost the automaker’s competitiveness in the American market. According to the U.S. Department of Energy, Hyundai’s Ioniq 5, Ioniq 9, [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s Ministry of Environment announced on January 1 a series of policy changes for 2025, including enhanced subsidies for young buyers of electric vehicles (EVs) and expanded environmental initiatives. Young individuals aged 19 to 34 purchasing their first EV will now receive a 20% additional subsidy on top [...]