SEOUL, July 14 (Korea Bizwire) — South Korea’s exports of automobiles dropped 33.4 percent in the first six months of 2020 from a year earlier, due mainly to the new coronavirus pandemic that has strained global business activities while weighing on consumers’ sentiment, data showed Tuesday. Local carmakers shipped 826,710 units of cars overseas in [...]
SEOUL, Sept. 6 (Korea Bizwire) — The South Korean government said Thursday it will impose penalties on carmakers that cover up manufacturing defects and fine them for delayed recalls. The move comes in the middle of BMW Korea’s recall of 106,317 vehicles in South Korea to fix a faulty part following dozens of engine fires [...]
SEOUL, April 14 (Korea Bizwire) – South Korea’s exports of automobiles plunged 10.8 percent in the first quarter from a year earlier, data showed Wednesday, amid falling demand from emerging markets. South Korean carmakers shipped 654,494 units of vehicles abroad over the January-March period, compared with the 733,759 units posted a year earlier, the data compiled by the Korea Automobile Manufacturers’ Association [...]