SEOUL, July 11 (Korea Bizwire) — Eco-friendly vehicles accounted for more than 30 percent of South Korea’s total car exports in the first five months of the year on strong overseas demand and the debut of two major electric vehicles made by local automakers in the U.S. market, data showed Monday. The value of exported [...]
SEOUL, March 28 (Korea Bizwire) — Hyundai Motor Group’s cumulative sales of eco-friendly vehicles in the United States surpassed the 500,000-unit mark in February, 11 years after its entry into the American market, the group said Monday. The group’s two flagships — Hyundai Motor Co. and Kia Corp. — sold a combined 15,218 environmentally friendly [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korea’s top steelmaker POSCO has announced plans to build a new plant to produce advanced electrical steel for motors of eco-friendly vehicles. At a board meeting held last week, the company resolved to invest about 1 trillion won (US$845 million) to build an electrical steel plant with an [...]
SEOUL, Feb. 2 (Korea Bizwire) — POSCO International Corp. has announced plans to expand its automotive motor core business as part of efforts to cope with the growth in demand for eco-friendly vehicles. The South Korean general trading company revealed on Monday that it formulated blueprints aimed at supplying 4 million units of automotive motor [...]
SEOUL, June 15 (Korea Bizwire) — Sales of environmentally friendly vehicles sold by Hyundai Motor Co. and its affiliate Kia Motors Corp. have remained robust this year, data showed on Monday, with the ratio of such vehicles exceeding 7 percent of their total sales. Hyundai and Kia sold a combined 160,082 eco-friendly vehicles in global [...]
SEJONG, Feb. 6 (Korea Bizwire) — South Korea said Thursday it will spend 385.6 billion won (US$326.2 million) on research and development (R&D) projects for auto parts for eco-friendly vehicles, such as electric cars, in line with the country’s latest clean energy drive. The project that will run through 2026 will center on lending hands [...]
SEJONG, Jan. 20 (Korea Bizwire) — South Korea’s finance and environment ministries said Monday that they have changed a state subsidy scheme for eco-friendly vehicles to allow buyers of efficient cars to get larger subsidies from this year. Currently, the state subsidy is calculated on an electric car’s battery capability. Under the revised subsidy program, [...]
SEJONG, Oct. 4 (Korea Bizwire) — The government offers subsidies when citizens decide to buy eco-friendly vehicles. However, 3 out of every 10 government-supported vehicles are second cars. In an annual parliamentary audit conducted by the Ministry of Environment Wednesday, Rep. Jeon Hyun-hee of the ruling Democratic Party said that the public tends to have [...]
SEOUL, July 5 (Korea Bizwire) – The sale of environment friendly vehicles is on the rise in South Korea’s used car markets as the government moves to reduce fine dust-emitting diesel vehicles, a local website said Wednesday. Pre-owned car sales data offered by SKencarsales.com back up the trend. It said SK encar.com, a certified Korean [...]
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 [...]