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Gov’t On Track to Upgrade S. Korean Version of Lemon Law

Gov’t On Track to Upgrade S. Korean Version of Lemon Law

SEOUL, Dec. 28 (Korea Bizwire) — The Ministry of Land, Infrastructure and Transport has announced a plan to upgrade a local lemon law including the introduction of a performance analysis-based arbitration system. The Korean lemon law went into effect on Jan. 1, 2019, to enhance customers’ convenience, though it is not obligatory for companies to [...]

Waiting Time for Delivery of Cars Drops amid Easing of Chip Shortage

Waiting Time for Delivery of Cars Drops amid Easing of Chip Shortage

SEOUL, Dec. 2 (Korea Bizwire) — The waiting time for the delivery of domestically-made vehicles has dropped significantly thanks to the gradual easing of the chip shortage that disrupted carmakers starting last year. According to Yonhap News Agency’s analysis on Hyundai Motor Co. and its independent Genesis brand’s table of expected delivery time by model, [...]

Compact, Eco-friendly Cars Increasingly Popular as Oil Prices Remain High

Compact, Eco-friendly Cars Increasingly Popular as Oil Prices Remain High

SEOUL, Oct. 31 (Korea Bizwire) — In the midst of a slight increase in the nation’s cumulative car registrations in the third quarter of this year, the number of new registrations of compact cars and eco-friendly cars took an upturn, data showed Sunday. The nation’s cumulative car registrations stood at 25,356,000 in the third quarter [...]

New Car Delivery Delays Worsen Despite Recovering Chip Supply

New Car Delivery Delays Worsen Despite Recovering Chip Supply

SEOUL, Oct. 7 (Korea Bizwire) — Despite an improving supply of semiconductors, delivery delays for new automobiles are now worse than they were last year. Getcha, an online car sales platform, said deliveries of Hyundai Motor Co.’s Avante Grandeur sedans had been delayed by 10 months and seven months, respectively. In October of last year, [...]

Blue and Red Cars Gain Popularity

Blue and Red Cars Gain Popularity

SEOUL, Sept. 14 (Korea Bizwire) — Global automakers are identifying their eco-friendliness with distinguished colors, with blue and red enjoying growing popularity, Hyundai Motor Group said Tuesday. Blue is a color representing environmental friendliness, while red is associated with copper, the core component of electric vehicles. According to a report released by a global chemical [...]

Insurance Firms Overwhelmed with Claims After Record Rainfall

Insurance Firms Overwhelmed with Claims After Record Rainfall

SEOUL, Aug. 11 (Korea Bizwire) — The torrential rain that drenched the greater Seoul area resulted in thousands of cars being submerged, putting general insurance companies on alert. A record-breaking downpour that swept through Seoul, Gyeonggi Province and Incheon last Monday resulted in 12 general insurance companies receiving 9,189 reports of submerged cars as of [...]

Car Industry Faces Production Crisis Coupled with Chip Shortage and Truckers’ Strike

Car Industry Faces Production Crisis Coupled with Chip Shortage and Truckers’ Strike

SEOUL, June 10 (Korea Bizwire) — As new cars are experiencing shipping delays due to semiconductor shortages, there are concerns that the recent cargo truckers’ strike will exacerbate the delay. Industry sources said that the chip shortage has left South Korean consumers with wait times of at least one year for new Korean-made vehicles. Buyers [...]