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 [...]
SEOUL, Jan. 18 (Korea Bizwire) – The total number of EVs registered by the government surpassed 10,000 in 2016, setting a new milestone and taking another step forward towards a greener automotive industry. According to the Ministry of Land, Infrastructure and Transport, there were 10,855 electric vehicles officially registered as of the end of last [...]
SEJONG, Dec. 8 (Korea Bizwire) – South Korea will seek to have more than 1 million eco-friendly cars on the road by 2020 as part of its plan to reduce greenhouse gas emissions and generate new growth momentum for its auto industry. The 2016-2020 plan will push up the percentage of green cars such as [...]
![[Kobiz Stats] Eco-friendly Vehicles Registered in Seoul](http://koreabizwire.com/wp/wp-content/uploads/2014/04/친환경자동차현황-영문-1.jpg "[Kobiz Stats] Eco-friendly Vehicles Registered in Seoul")
[Related Article] Seoul City’s Hybrid Car Registration Rises 20% in 2013 (Korea Bizwire, April 21) Any Seoul resident can get sizable tax cuts upon the purchase of an environment-friendly hybrid car. The tax benefits are offered until the end of this year. Thanks to the incentives, as well as to the heightened awareness on the [...]