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, [...]
SEOUL, Feb. 15 (Korea Bizwire) — South Korea’s automobile exports fell more than 6 percent in January from a year earlier due to a global shortage of automotive chips and a high base effect, data showed Tuesday. Outbound shipments of automobiles came to 179,709 units last month, down 6.4 percent from the previous year, according [...]
SEOUL, Nov. 10 (Korea Bizwire) — South Korea’s automobile output is widely expected to reach a nine-year low this year on sluggish sales at home and abroad, dipping to below 4 million units for the first time since 2009, data showed Sunday. In the first 10 months of the year, the combined sales of automakers [...]
SAN JOSE, Calif. , Sept. 27 (Korea Bizwire) — NetSpeed Systems Inc. announced today that DENSO Corporation, a leading global automotive supplier of advanced technology, systems and components, has licensed NetSpeed’s Orion on-chip network IP and Pegasus last-level cache for use in System-on-chip (SoCs) targeting Advanced Automotive Electronic Platforms including autonomous driving (ADAS, Autopilot) systems. Automobiles [...]
SEOUL, Aug. 16 (Korea Bizwire) – On August 15, with reports from Hyundai and Kia indicating that 141,681 eco-friendly cars had been sold thus far this year as of the end of last month, it is believed that the automotive giants may have found a possible lifeline out of their troubles. To put into perspective [...]
SEOUL, March 3 (Korea Bizwire) — Car Makers Launch Aggressive Marketing Push in S. Korean Automobile Market Car makers are stepping up their marketing game as they look to boost their market share in the South Korean auto market in March. Sales and marketing strategies from major car companies including Hyundai, Kia and GM Korea [...]
SEJONG, Feb. 14 (Korea Bizwire) – Korean vehicle classification, which previously fell into categories such as small, medium or full-sized according to engine displacement and size, will undergo changes for the first time in 30 years. Technological advancements have brought new and diverse cars into the market, such as eco-friendly cars and micro compact cars, [...]
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 [...]