SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s passenger vehicle sales fell 3.8 percent last year as an economic slowdown weighed on demand for their models at home and abroad, industry data showed Thursday. For all of 2019, the five carmakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. [...]
SEOUL, Aug. 8 (Korea Bizwire) — GM Korea is reportedly in dire straits. The company already saw a partial work stoppage on July 17. Circumstances have become so serious that the Korea Development Bank (KDB Bank), the second largest shareholder in the company, questioned the automaker’s ability to stay in business. In 2002, Daewoo Motors was [...]
SEOUL, Sept. 27 (Korea Bizwire) – Carmakers in South Korea saw their overseas production exceed domestic output in the first eight months of this year, industry data showed Tuesday, as local automakers have built more assembly lines in foreign countries in recent years. Seven carmakers, including top automaker Hyundai Motor Co. and its sister company [...]
SEOUL, Aug. 17 (Korea Bizwire) – The operating profit of automakers and their vendors in South Korea came in at a disappointing level last year with each firm making only about US$0.05 for every $1 in sales, industry data showed Wednesday. According to the data compiled by a local research institute, combined sales of 1,079 [...]