SEOUL, Nov. 8 (Korea Bizwire) – Mercedes-Benz Korea has announced the introduction of its first electrified G-Class model, the “All-New Mercedes-Benz G580 with EQ Technology,” marking a significant evolution in its premium SUV lineup. The company revealed on November 7 that it will initially release 70 units of a distinctive limited edition model, the “Edition One,” [...]
SEOUL, Nov. 7 (Korea Bizwire) – The global automotive industry faces significant changes and uncertainties following Donald Trump’s election as the 47th president of the United States on November 6. Hyundai Motor Group, which has relied heavily on U.S. exports for its performance, is particularly on alert as Trump has promised to prioritize domestic industries, strengthen [...]
SEOUL, Nov. 7 (Korea Bizwire) – In a departure from the traditional pattern where economic downturns boost compact car sales, South Korea’s compact vehicle market is experiencing a significant decline, with annual sales expected to fall below 100,000 units for the first time since 2021. According to data from Kais You Data Research Institute, compact car [...]
SEOUL, Nov. 7 (Korea Bizwire) — Hyundai Motor Group has outperformed Volkswagen Group to become the world’s second-largest automaker in terms of operating profit, industry data showed Thursday. According to automotive industry data, Hyundai Motor Group achieved sales of 69.4 trillion won (US$49.6 billion) and an operating profit of 6.5 trillion won during the third [...]
LOS ANGELES, Nov. 7 (Korea Bizwire) – Kia Motors showcased two new concept vehicles designed for outdoor enthusiasts at SEMA 2024, the world’s largest automotive customization show, held at the Las Vegas Convention Center on November 5. The two vehicles – the EV9 ADVNTR (Adventure) and PV5 WKNDR (Weekender) – were developed by Kia’s U.S. Design [...]
SEOUL, Nov. 6 (Korea Bizwire) – The Seoul Metropolitan Government announced on November 5 that it will become the first city in South Korea to designate “scooter-free zones” on streets with high accident risks, marking a significant shift in urban mobility management. The city will also begin immediate towing of illegally parked e-scooters, with municipal officials, [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korea’s industry ministry said Wednesday it has launched a project to develop homegrown space rovers amid the growing global competition for lunar exploration. The government has reached an agreement with 13 institutions and companies, including Hyundai Motor Co., to develop around 10 key rover components with a combined [...]
DAEJEON, Nov. 5 (Korea Bizwire) – In a significant development highlighting South Korea’s dominance in battery technology, patent applications for battery fire safety technologies have surged nineteen-fold over the past decade, according to data released by the Korean Intellectual Property Office on November 3. An analysis of patent applications filed with major patent offices worldwide—including South [...]
SEOUL, Nov. 4 (Korea Bizwire) — Kia Corp., South Korea’s second-largest automaker, said Monday it has released a revamped version of its K5 midsize sedan with an improved value proposition and a suite of feature upgrades. The latest K5 features expanded safety and convenience options across its trims, with Kia adding a new entry-level trim [...]
SEOUL, Nov. 1 (Korea Bizwire) – The Hyundai Sonata, a midsize sedan that once dominated South Korea’s automotive landscape, is showing strong signs of revival with a significant surge in sales this year, potentially reclaiming its status as the nation’s signature car. According to data released by the Korea Automobile Mobility Industry Association (KAMA) and Hyundai [...]