SEOUL, Oct. 3 (Korea Bizwire) – “Our goal is not cost effectiveness. We do not think that the target markets overlap,” said an official with one of the competing automakers when Genesis designated the Benz C-class and BMW 3 series as competitors of its model G70 before its launch in the market. “The advertising of the [...]
SEOUL, Sept. 18 (Korea Bizwire) – Ever since it opened on Yeongjong Island (home to Incheon International Airport) in August, 2014, the BMW Driving Center has played host to more than 500,000 curious visitors, 70,000 among whom took a stab at the numerous driving activities on offer. The headlining feature of the center is a [...]
SEOUL, Sept. 7 (Korea Bizwire) – SK Telecom announced that it would be hosting a general meeting at its Seoul headquarters on September 7 to present its latest product, the AI-integrated navigation system T Map x NUGU. The pre-NUGU supported T Map had been capable of processing one-word commands, but after being integrated with NUGU, [...]
SEOUL, Sept. 7 (Korea Bizwire) — Ford Motor Company, Mitsubishi Motors Corporation and BMW will recall faulty parts in more than 1,000 vehicles sold in South Korea, the transport ministry said Thursday. Ford will recall 626 Lincoln MKZs and eight Fusion sedans manufactured in 2013 to replace faulty door latches. Mitsubishi issued a recall for [...]
SEOUL, Aug. 1 (Korea Bizwire) — With European authorities set to look into allegations of collusion involving a number of German carmakers, one South Korean lawyer has urged the government to follow suit to protect South Korean consumers. Ha Jong-sun, from the firm Barun Law, told the press on Monday that he had submitted a [...]
SEOUL, Jul. 9 (Korea Bizwire) — German luxury carmaker Mercedes-Benz is speeding ahead in terms of sales in South Korea, while its main rival BMW is struggling to keep pace, industry data showed Sunday. According to sales figures released by the Korea Automobile Importers and Distributors Association (KAIDA) and other market trackers, Mercedes-Benz midsize E-Class [...]
SEOUL, June 21 (Korea Bizwire) – BMW said Wednesday it will sell its 10 millionth 5 series model through an auction in South Korea later this month. It is the first time for an imported carmaker to sell their limited editions in an auction here. An auction slated on June 28 will find the owner of [...]
SEOUL, May 29 (Korea Bizwire) – The latest marketing trend among imported luxury automakers is the introduction of “Korea Edition” models. According to industry watchers, McLaren Seoul is launching five limited edition models of the 570S Korea Edition, based on the McLaren 570S Coupe and manufactured by the McLaren Special Operations division. To be sold [...]
SEOUL, May 25 (Korea Bizwire) — South Koreans preferred to buy expensive or low-priced imported vehicles in the January-April period, industry data showed Wednesday. In the four-month period, sales of imported vehicles priced at less than 30 million won (US$27,000) jumped 81 percent to 2,960 units from a year earlier, numbers released by the Korea [...]
SEOUL, May 22 (Korea Bizwire) — German carmakers BMW and Mercedes-Benz sold more vehicles in South Korea in the January-April period compared to Japan, an industry association said Sunday. Vehicle sales by BMW and Mercedes-Benz jumped 48 percent and 32 percent year-on-year, respectively, to 18,115 and 24,877 units in the Korean market during the first [...]