SEOUL, March 16, 2025 (Korea Bizwire) — Chinese electric vehicle giant BYD has established a new subsidiary in South Korea dedicated to the import and distribution of used cars, signaling an expansion of its presence in the country’s automotive market. According to industry sources, BYD recently set up BYD Korea Auto, a separate entity from BYD [...]
SEOUL, Feb. 26 (Korea Bizwire) — Global automakers are rolling out lower-priced electric vehicles this year despite facing a temporary plateau in demand, known in the industry as a “chasm.” The strategy aims to attract cost-conscious consumers while securing market share ahead of widespread EV adoption. According to industry sources on February 24, Kia plans to unveil [...]
SEOUL, Feb. 11 (Korea Bizwire) – With the recent entry by China’s BYD Co. into South Korea’s passenger electric vehicle (EV) market, concerns have been raised over potential personal data leaks to China through the vehicles manufactured by the company, industry observers said Tuesday. The security risks of private data leaks to China emerged following [...]
SEOUL, Feb. 5 (Korea Bizwire) — Automakers in South Korea, both domestic and foreign, are slashing electric vehicle (EV) prices this month in response to slowing demand and the entry of Chinese manufacturers into the market. Industry analysts suggest that established players, including Hyundai and Kia, are defending their market share against price-competitive models from China’s [...]
SEOUL, Jan. 24 (Korea Bizwire) — Cheil Worldwide announced on January 23 that it will spearhead the marketing launch of BYD’s passenger vehicle brand in South Korea, marking a significant move by the world’s largest electric vehicle manufacturer into the Korean market. The agency has already begun its campaign, releasing the first promotional video for BYD’s [...]
SEOUL, Jan. 13 (Korea Bizwire) — Chinese electric vehicle (EV) manufacturers, led by BYD, are intensifying efforts to enter the South Korean market in 2025, raising questions about their strategic motivations. Analysts suggest this move addresses China’s domestic overproduction while positioning South Korea as a testing ground for expansion into advanced markets. Industry insiders speculate [...]
SEOUL, Jan. 13 (Korea Bizwire) — Chinese electric vehicle (EV) manufacturers, led by global EV sales leader BYD, are preparing to enter the South Korean market in 2025, raising questions about their potential impact on the domestic auto industry. Experts remain divided on whether Chinese brands will struggle to gain traction or disrupt the market with [...]
SEOUL, Jan. 6 (Korea Bizwire) — Chinese businesses are making significant inroads into South Korea, diversifying their presence across retail, electric vehicles (EVs), e-commerce, and consumer electronics. This trend reflects a broader shift as Chinese companies seek to offset slowing domestic growth and navigate rising trade barriers in the U.S. and Europe. Retail Resurgence: Miniso’s [...]
SEOUL, Dec. 17 (Korea Bizwire) – BYD, the world’s leading electric vehicle (EV) brand, is set to make its official foray into South Korea’s passenger car market. On December 17, South Korean conglomerate Samchully Group announced that its subsidiary, Samchully EV, has signed an official dealership agreement with BYD Korea to introduce the Chinese automaker’s [...]
SEOUL, Dec. 12 (Korea Bizwire) – Chinese commercial vehicles captured their highest monthly market share of the year in South Korea’s imported vehicle market last month, raising concerns about growing Chinese dominance as companies like BYD prepare to enter the passenger car market. According to data from Kaizen Auto Research Institute released on December 11, Chinese [...]