DAEGU, April 4 (Korea Bizwire) – As of March 31, the Daegu metropolitan government had received 1,813 applications for EV subsidies, already exceeding the 1,500 that the city had initially planned for 2017. The local government is providing up to 20 million won ($17,885) in official subsidies for electric car purchases this year in addition [...]
SEOUL, March 15 (Korea Bizwire) – South Korea’s automobile production surged in February amid strong demand for eco-friendly and luxury vehicles both at home and abroad, government data showed Wednesday. Automobile output rose 9.8 percent to 336,032 units last month from a year earlier, according to statistics released by the Ministry of Trade, Industry and [...]
SEOUL, Mar. 7 (Korea Bizwire) – Half of the new recruits at Hyundai Mobis will be working in research and development with a focus on self-driving and connected car technologies, the company announced yesterday. Of the 278 employees Hyundai Mobis hired last month, nearly a quarter were electronics and computer science majors in light of [...]
SEOUL, March 7 (Korea Bizwire) – The Genesis, a separate premium brand of South Korea’s top automaker Hyundai Motor Co., has won this year’s best brand ranking among local cars for the first time, a survey said Tuesday. Brandstock, a South Korean market research firm that determines the rankings of local brands, said in its [...]
SEOUL, Feb. 22 (Korea Bizwire) – Korea’s largest automotive event, the Seoul Motor Show, will run from March 31 to April 9, but is likely to be a disappointment for the legions of local car fanatics. According to the organizing committee, nine local and 18 overseas car brands will participate in this year’s show, which [...]
SEJONG, Feb. 14 (Korea Bizwire) – Korean vehicle classification, which previously fell into categories such as small, medium or full-sized according to engine displacement and size, will undergo changes for the first time in 30 years. Technological advancements have brought new and diverse cars into the market, such as eco-friendly cars and micro compact cars, [...]
SEOUL, Jan. 17 (Korea Bizwire) – The number of registered vehicles in South Korea continued to grow, nearing 22 million in 2016, the government said Tuesday. Car registrations came to 21,803,351 units as of end-2016, up 3.9 percent or some 813,000 from a year earlier, according to the Ministry of Land, Infrastructure and Transport. The [...]
SEOUL, Jan. 16 (Korea Bizwire) – Global Automotive 2016 Color Popularity Report by Axalta, a coating company, revealed that 33 percent of cars sold in Korea in 2016 were either solid white or pearl white. Although this was a drop from 36 percent in 2015, white was still the most popular color for vehicle purchases [...]
SEOUL, Jan. 9 (Korea Bizwire) – South Korea’s local automobile output dropped significantly from a year earlier in 2016, also slipping a notch to the world’s sixth-largest producer of cars, industry data showed Monday. According to the data from the Korea Automobile Manufacturers Association (KAMA), five South Korea-based automakers produced a combined total of 4,228,536 [...]
SEOUL, Dec. 8 (Korea Bizwire) – Imported car sales in South Korea are expected to suffer an on-year fall this year for the first time in seven years, apparently affected by weaker demand for diesel cars and sales bans of popular models, industry sources said Thursday. A total of 205,162 imported vehicles have been sold [...]