SEOUL, Dec. 21 (Korea Bizwire) — A recent study has revealed that widespread adoption of electric vehicles (EVs) on Jeju Island would halve the number of car repair and maintenance workers on the island. According to a report released by the Ministry of Employment and Labor, if EV adoption becomes more widespread in Jeju, the [...]
SEOUL, Sept. 28 (Korea Bizwire) — South Korea seeks to significantly boost production of electric vehicles to more than double domestic carmakers’ global market share to 12 percent by 2030 and to be a global car industry powerhouse, the industry ministry said Wednesday. For the goal, the government vowed to provide tax incentives and various [...]
SEOUL, Aug. 1 (Korea Bizwire) — As electric vehicles (EVs) rise as the ‘new standard’ in the automobile industry, tire producers are responding with EV-exclusive tires. Industry sources said almost half of all tire orders placed with Hankook Tire and Technology Co. for new cars were EV-exclusive tires. Hankook Tire has concluded contracts with 22 [...]
SEOUL, April 26 (Korea Bizwire) — South Korea’s imported electric vehicle (EV) market, once dominated by Tesla Inc., is now facing fierce competition with European brands releasing new models. The Ministry of Trade, Industry and Energy and the Korea Automobile Importers & Distributors Association (KAIDA) reported that a total of 5,278 units of imported EV [...]
SEOUL, March 28 (Korea Bizwire) — Registered electric vehicles (EVs) in South Korea now account for close to 1 percent of all automobiles in the country, data showed Sunday, thanks to growing interest in eco-friendly cars, as well as generous government subsidies. The Ministry of Land, Infrastructure and Transport reported that among the more than 25 [...]
SEOUL, March 4 (Korea Bizwire) — Sales of electric vehicles (EVs) in South Korea surged last month following the introduction of new subsidy programs. Automakers on Wednesday announced that a total of 12,399 EVs were sold in February, which was 1,113.2 percent higher than the previous month (1,022 units). It is not uncommon to see [...]
SEOUL, March 3 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Thursday it will launch 14 electric vehicles by 2027 and sell 1.2 million EVs in global markets in 2030. To beef up the EV lineup and achieve the sales target, Kia will invest 28 trillion won (US$23 billion) in future mobility solutions [...]
SEOUL, Feb. 14 (Korea Bizwire) — The Seoul city government said Monday it will pay subsidies to buyers of about 14,200 electric vehicles during the first half, as part of its bid to support the purchase of 27,000 electric vehicles for the whole year. The Seoul government had supplied 52,400 electric vehicles for 13 years [...]
SEOUL, Feb. 7 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, said Monday it will launch six electric vehicles in China by 2027 as it aims to gain a share in the Chinese EV market. Kia plans to launch the EV6 all-electric sedan in the world’s biggest automobile market next year, the [...]
SEOUL, Jan. 20 (Korea Bizwire) — Diesel-powered vehicles, which once led the imported cars market in South Korea, are now being increasingly replaced by electric vehicles (EVs) or other eco-friendly vehicles. Carisyou Data Lab reported that among 286,722 imported cars sold last year, 52,318 (18 percent) were diesel cars. It is the first time in [...]