SEOUL, Dec. 17 (Yonhap) — South Korea’s antitrust regulator said Tuesday it has fined Kakao Mobility Corp., the operator of the country’s top taxi-hailing service, 15.1 billion won (US$10.5 million) for unfair business practices. Kakao Mobility is accused of manipulating its algorithm to direct more ride requests received through its mobile taxi application to cabs under its [...]
SEOUL, Dec. 16 (Korea Bizwire) –Tesla is poised to claim the second spot in South Korea’s electric passenger car market, overtaking Hyundai Motor (excluding Genesis) for the first time since entering the market in 2017. Despite challenges such as slowing demand for EVs and a sluggish domestic economy, Tesla has achieved a record milestone of [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korea’s major corporations, including Samsung, SK, Hyundai, and LG, are closely monitoring the political and economic fallout following the impeachment of President Yoon Suk-yeol. As the nation grapples with heightened uncertainty, compounded by the anticipated inauguration of Donald Trump’s second U.S. presidency, businesses are taking cautious steps to [...]
SEOUL, Dec. 16 (Korea Bizwire) — Hanwha Aerospace Co., a major South Korean defense equipment manufacturer, said Monday it has appointed Michael Coulter, former president of global defense firm Leonardo DRS International, to oversee its overseas business operations. In the company’s newly created position of global defense CEO, Coulter will be responsible for overseeing the [...]
SEOUL, Dec. 16 (Korea Bizwire) – Hyundai AutoEver Corp., the information technology affiliate of Hyundai Motor Group, said Monday it has established a joint venture in Indonesia to develop navigation maps for the Southeast Asian country and many others in the region. The new firm, named Terra Link Technologies, has been jointly established with India’s [...]
SEOUL, Dec. 13 (Korea Bizwire) — The transport ministry said Friday it will conduct a flight demonstration of a commercial-level air taxi model this week as part of a government project to introduce the urban air mobility (UAM) industry in the country. The ministry will demonstrate the operation of the S-4 model built by U.S. [...]
SEOUL, Dec. 12 (Korea Bizwire) – Chinese commercial vehicles captured their highest monthly market share of the year in South Korea’s imported vehicle market last month, raising concerns about growing Chinese dominance as companies like BYD prepare to enter the passenger car market. According to data from Kaizen Auto Research Institute released on December 11, Chinese [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group said Thursday it will join hands with Google to strengthen its automotive software system and deliver next-generation navigation and infotainment experiences for drivers. Under the partnership, Hyundai Motor will adopt Google’s Android Automotive Operating System (AAOS) and use Google Maps’ geolocation information [...]
SEOUL, Dec. 12 (Korea Bizwire) – Hyundai Motor’s Ioniq 5 N, its first dedicated electric vehicle under the high-performance “N” brand, has been named “High-Performance Car of the Year” at the 2025 China Car of the Year Awards, the company announced on Monday. The annual awards are among the most prestigious in China’s automotive industry, judged [...]
SEOUL, Dec. 11 (Korea Bizwire) — Korean Air Co. plans to finalize its acquisition of a controlling stake in rival Asiana Airlines Inc. on Wednesday, completing the merger deal between South Korea’s leading carriers that has been sought over the past four years, according to company officials. Korean Air plans to invest 1.5 trillion won [...]