SEOUL, April 11 (Korea Bizwire) — Automotive sales channels that have been limited to offline dealers are now expanding towards retail industries, including large discount stores and online malls, amid a shift in the automotive retail paradigm. Large discount store chains E-Mart Inc. and Homeplus Co. each set up a showroom for Hyundai Motor Co.’s [...]
SEOUL, Aug. 12 (Korea Bizwire) — Samsung Electro-Mechanics Co., a major electronics parts maker in South Korea, on Thursday said it has developed two types of automotive multi-layer ceramic capacitors (MLCCs) that can be used for the advanced drive assist system (ADAS) as the company targets the future mobility market. Samsung Electro-Mechanics unveiled the 0603-size [...]
SEOUL, Feb. 1 (Korea Bizwire) — Vehicle sales of South Korea’s five carmakers fell 5.5 percent last month from a year earlier on weak overseas demand, corporate data showed Friday. The five carmakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — sold a combined [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s three listed carmakers are betting big on sport-utility vehicles (SUVs) to bolster sales in 2019 after posting lower-than-expected earnings results last year. With ongoing trade friction between the United States and China and the global economy slowing down, Hyundai Motor Co., Kia Motors Corp. and SsangYong Motor [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korea will “significantly” ease regulations involving autonomous and hydrogen vehicles as part of its broad emission-control policies, the transport ministry said Friday. In a meeting with auto industry associations and car manufacturers, officials from the Ministry of Land, Infrastructure and Transport said the government will further ease regulations [...]
SEOUL, Jan. 24 (Korea Bizwire) — Hyundai Motor Co. said Thursday it shifted to a net loss for the October-December quarter as a strong Korean currency and weak sales in major markets cut into its bottomline. For the three months that ended on Dec. 31, Hyundai swung to a net loss of 203.3 billion won [...]
SEJONG, Jan. 11 (Korea Bizwire) — South Korea’s finance minister called Friday for an exemption from U.S. tariffs on South Korean automobiles as he expressed deep concerns about an ongoing U.S. probe. Hong Nam-ki, the minister of economy and finance, made the appeal in a meeting with U.S. Ambassador to South Korea Harry Harris at [...]
SEOUL, Jan. 6 (Korea Bizwire) — The number of sport utility vehicles (SUVs) sold in South Korea in 2018 shot up 12.7 percent on-year — growing faster than any other type of automobile — to hit a record-high level, data showed Sunday. According to the data based on figures from five South Korean car manufacturers, [...]
SEOUL, Oct. 23 (Korea Bizwire) — LG Chem Ltd. said Tuesday that it will invest 2.1 trillion won (US$1.8 billion) by 2023 to build electric vehicle batteries in China in the latest move to meet growing demand for batteries for zero-emissions cars. South Korea’s top chemical company said it has broken ground for a three-story [...]
SEOUL, Oct. 10 (Korea Bizwire) — General Motors Co. is set to violate an initial agreement signed between the carmaker’s South Korean unit and the South Korean government by attempting to establish a separate R&D corporation, a lawmaker said Wednesday. In his policy review submitted as part of a parliamentary audit, Jung You-sub, a representative [...]