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Justice Minister Pledges to Expand Class Action Lawsuit System

Justice Minister Pledges to Expand Class Action Lawsuit System

SEOUL, Sept. 17 (Korea Bizwire) — Justice Minister Park Sang-ki said Monday the government will try to expand the class action lawsuit system so as to enable consumers to file such suits not only in stock-related cases, but also in other areas. Park made the remark during a meeting with victims of high-profile consumer cases, [...]

S. Korea to Slap Penalties on Defect Coverups by Carmakers

S. Korea to Slap Penalties on Defect Coverups by Carmakers

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 [...]

BMW Tops List of Registered Imported Cars amid Safety Scandal

BMW Tops List of Registered Imported Cars amid Safety Scandal

SEOUL, Aug. 27 (Korea Bizwire) — German carmaker BMW ranked No. 1 among imported cars registered in South Korea, industry data showed Monday, maintaining its lead despite a string of vehicle fires that have shaken consumer confidence in the brand. According to the data compiled by the Korea Automobile Manufacturers Association and the Korea Automobile [...]

Price of Used BMWs Falling After Widespread Engine Fires

Price of Used BMWs Falling After Widespread Engine Fires

SEOUL, Aug. 22 (Korea Bizwire) — After BMW Korea’s recent decision to recall its vehicles, the price of used BMWs is falling with the number of cars being sold stagnating. This is according to SK Encar, South Korea’s biggest online used car market, which surveyed current market prices and number of vehicles sold for BMW’s [...]

Sales of Car Fire Extinguishers and Emergency Hammers Spike

Sales of Car Fire Extinguishers and Emergency Hammers Spike

SEOUL, Aug. 17 (Korea Bizwire) — With the recent series of fires in BMW vehicles and Korean-made cars, car safety items are selling better than ever. Ticket Monster, a leading e-commerce website, said revenue derived from sales of car fire extinguishers during a period of two weeks between August 1 to 14 grew by 3,246 [...]