SEOUL, Aug. 22 (Korea Bizwire) –Car output fell more than 17 percent on-year in July due to weak domestic demand and partial strikes at some companies, industry data showed Thursday. According to the Korea Automobile & Mobility Association, the total production volume of five automakers last month totaled 290,910 units, down 17.6 percent from [...]
SEOUL, Jul. 24 (Korea Bizwire) – Starting August 14, automakers in South Korea will face a significant shift in how sudden acceleration incidents are handled. Under a new amendment to the Motor Vehicle Management Act, manufacturers who fail to submit relevant data about vehicles suspected of sudden acceleration will see those vehicles presumed defective. This presumption [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s Hyundai Motor Group has slipped by one notch to fifth place in Greenpeace’s 2022 auto environmental guide that analyzed the decarbonization efforts by the top 10 global carmakers. The annual report released Thursday by Greenpeace East Asia ranks the top 10 global automakers after assessing them in [...]
SEOUL, Feb. 15 (Korea Bizwire) — Collaboration between automakers and fashion companies is actively underway in recent days, with the range and pattern of such collaboration becoming more diverse. Kia Corp., South Korea’s second-largest automaker, joined hands with outdoor brand Eider last month to release a limited edition of the shoe ‘Quantum Niro.’ This shoe [...]
GOYANG, Nov. 25 (Korea Bizwire) — Automakers on Thursday showcased a suite of electric vehicles at a Seoul motor show as they are shifting away from internal combustion engine vehicles toward zero-emission vehicles amid a global push to reduce greenhouse gas emissions. Hyundai Motor Group and German carmakers stole the spotlight with their upcoming all-electric [...]
SEOUL, Sept. 23 (Korea Bizwire) — A global shortage of chips used in autos is expected to have a limited impact on third-quarter earnings of South Korea’s top two carmakers Hyundai Motor Co. and Kia Corp., a market tracker said Thursday. The market consensus for Hyundai’s operating profit amounts to 1.78 trillion won (US$1.51 billion) [...]
SEOUL, March 17 (Korea Bizwire) — South Korea’s automobile and semiconductor business groups on Wednesday said they will join forces in developing key automotive chips domestically, as the global supply shortages of key automotive chips are anticipated to disturb the production of cars. The Korea Semiconductor Industry Association and the Korea Automobile Manufacturers Association inked [...]
SEOUL, Sept. 7 (Korea Bizwire) — Automakers are gaining attention after appointing popular celebrities as brand ambassadors, despite the lack of in-person interaction with consumers following the coronavirus outbreak. Hyundai Motor Co. has appointed K-pop sensation BTS as brand ambassadors for IONIQ, Hyundai’s EV brand. The company recently unveiled a song and music video titled [...]
SEOUL, Nov. 28 (Korea Bizwire) — Automakers such as Hyundai Motor and Kia Motors are engaged in excessive management interventions, including their involvement in the personnel management of their sales agents. On the other hand, the pharmaceutical industry has seen an increase in the practice of rebates, in which sellers return a share of their [...]
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 [...]