SEOUL, Jun. 25 (Korea Bizwire) – Korea Aerospace Industries Co. (KAI) said Tuesday it has forged an agreement with a Polish defense firm to establish a support system for maintenance and related services for its FA-50 fighter jets exported by KAI. KAI said it signed a teaming agreement with WZL-2, a maintenance, repair and overhaul [...]
SEOUL, Jun. 25 (Korea Bizwire) – Hyundai Motor Company announced on June 24 that it has achieved the fastest time for a production electric vehicle at the prestigious Pikes Peak International Hill Climb in Colorado, held on June 23. The Pikes Peak International Hill Climb, often referred to as the “Race to the Clouds,” is the [...]
SEOUL/ULSAN, June 24 (Korea Bizwire) – Unionized workers of Hyundai Motor Co., South Korea’s leading automaker, on Monday overwhelmingly voted in favor of staging a strike following the collapse of annual wage negotiations between management and the union. Earlier this month, the union decided to call off further negotiations after holding the eighth round of [...]
SEOUL, Jun. 24 (Korea Bizwire) — Hyundai Motor Group is strengthening its electric vehicle (EV) battery supply chain and internal production capacity, as the world’s third-largest auto group seeks to present price-competitive EV models with better driving ranges. Last week, SQM, a Chilean lithium mining company, announced that it reached a long-term agreement with Hyundai [...]
SEOUL, Jun. 23 (Korea Bizwire) – South Korea’s car exports are forecast to reach a record high this year, driven by solid demand for eco-friendly models and sport utility vehicles, an industry association said Sunday. According to the Korea Automobile and Mobility Association (KAMA), the country’s car exports are projected to grow 5.4 percent on-year [...]
SEOUL, Jun. 23 (Korea Bizwire) – South Korean luxury automaker Genesis has taken a bold step into the world of high-performance driving experiences with the launch of its Genesis Track Taxi Nordschleife at Germany’s renowned Nürburgring circuit on June 21. The Track Taxi program allows enthusiasts to ride alongside professional drivers in specially tuned vehicles, experiencing [...]
SEOUL, June 21 (Korea Bizwire) – The government on Friday ordered low-cost carrier T’way Air to come up with measures to address repeated safety and flight delay issues. The Ministry of Land Infrastructure and Transport said it has conducted a special inspection of T’way Air and has ordered the airline to implement safety measures by [...]
SEOUL, Jun. 21 (Korea Bizwire) — Combined vehicle sales of Hyundai Motor Co. and Kia Corp., South Korea’s leading automakers, in Europe fell 4.9 percent in May from a year ago, industry data showed Friday. According to data from the European Automobile Manufacturers’ Association (ACEA), Hyundai and Kia sold a combined 92,196 units in Europe [...]
SEOUL, Jun. 20 (Korea Bizwire) – BMW Group Korea announced on June 20 that it will transform the BMW Driving Center located on Yeongjong Island in Incheon into a platform to convey the brand and product values. At an event commemorating the center’s 10th anniversary, BMW Korea unveiled its future vision based on the ‘Joy Next’ [...]
SEOUL, Jun. 20 (Korea Bizwire) — The South Korean government said Thursday it has carried out a probe into some imported vehicles made by Japanese automakers Toyota Motor Corp. and Yamaha Motor Co. in connection with their improper certification tests in their home country. Seoul’s Ministry of Land, Infrastructure and Transport said it has looked [...]