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, Sept. 24 (Korea Bizwire) – The U.S. government’s decision to phase out the sale of vehicles using Chinese or Russian software and components in autonomous driving and communication systems has drawn attention to its potential impact on South Korean automakers and parts suppliers. Industry analysts predict that this move by the U.S. administration could prove [...]
SEOUL, May 8 (Korea Bizwire) – South Korea’s auto exports climbed 10.3 percent in April from a year earlier, data showed Wednesday, on the back of strong demand for eco-friendly cars from North America. The combined value of car shipments came to US$6.8 billion last month, beating the previous record of $6.53 billion tallied in [...]
WASHINGTON, May 6 (Korea Bizwire) — South Korea has raised its automotive industry’s concerns with the United States over Washington’s inquiry and envisioned rules to address potential security risks from “connected vehicles” that use technology from China and other countries of concern. On April 30, the South Korean government submitted its comments to the U.S. [...]
SEJONG, Apr. 11 (Korea Bizwire) – South Korea’s auto exports moved up 2.7 percent on-year in the first quarter of 2024 on the back of strong demand for eco-friendly models, data showed Thursday. The combined value of car shipments came to US$17.5 billion in the January-March period, with the export volume reaching 690,000 units, according [...]
SEOUL, Dec. 6 (Korea Bizwire) – The prevailing trend in the automotive market is currently centered around the craze for plug-in hybrid electric vehicles (PHEV), marking a notable shift in consumer preferences. Despite the somewhat sluggish sales of fully electric vehicles, hybrids, previously considered a passing fad, are experiencing a resurgence. This revival is evident in [...]
SEOUL, Nov. 8 (Korea Bizwire) – A new service is being launched that helps car owners check their vehicle’s emissions, see potential subsidies for buying an eco-friendly car, find out about maintenance costs, and understand the environmental benefits of eco-friendly vehicles. The Ministry of Environment and the Korea Environment Agency have announced the My Car Easy [...]
SEOUL, Oct. 26 (Korea Bizwire) — Kia Corp., Ford Sales & Service Korea and four other car companies will voluntarily recall over 75,000 vehicles due to defective components, the transport ministry said Thursday. The companies, which also include Hyundai Motor Co., BMW Korea, Porsche Korea and Mercedes-Benz Korea, are recalling a combined 75,348 units of [...]
SEOUL, Sept. 28 (Korea Bizwire) — Global fabrication capacity for 200-millimeter wafers is forecast to jump 14 percent over the next three years, a recent report showed Thursday, as demand for chips used in electric vehicles (EVs), in particular, is sharply rising. “The development of powertrain inverters and charging stations for EVs in particular is [...]
SEOUL, Sept. 25 (Korea Bizwire) – In the Korean automotive industry, there’s a big debate about something called “employment inheritance clauses.” Recently, Hyundai Motor successfully completed five years of wage and collective bargaining discussions without any interruptions. But Kia is currently facing a tough battle in negotiations with its labor union. In this year’s wage talks, [...]