SEOUL, Feb. 19 (Korea Bizwire) — South Korea’s auto industry is bracing for potential turmoil after U.S. President Donald Trump suggested imposing a 25% tariff on imported cars, a move that could significantly impact Korean automakers’ competitiveness in the American market. Trump’s comments on February 18 sent shockwaves through the industry, which had previously anticipated a [...]
SEOUL, Feb. 3 (Korea Bizwire) — Global executives have identified the automotive sector as the industry likely to face the most significant disruption this year, according to a new survey. The research also revealed that amid the rise of China’s low-cost AI system DeepSeek, 8 in 10 executives believe artificial intelligence will positively impact their industries. [...]
SEOUL, Aug. 12 (Korea Bizwire) — A major association for South Korea’s car industry has sent a letter to the U.S. House of Representatives and requested changes in tax incentives proposed under a major climate change and energy bill, stressing that they could put Korean carmakers on an unequal footing. The Korea Automobile Manufacturers Association [...]
SEOUL, Nov. 14 (Korea Bizwire) — Representatives of South Korea’s major automakers, parts makers and industry officials gathered in Seoul on Wednesday to discuss ways to breathe new life into the sluggish auto industry. The chief executives of the big five automakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Company Ltd., Renault Samsung [...]
SEOUL, Jul. 6 (Korea Bizwire) — South Korea’s share in the Chinese, U.S. and European auto markets has been declining for the past four years amid tense competition from Japanese and American automakers, industry sources said Thursday. South Korea’s share of the global auto market stood at an average 5.8 percent in the three major [...]