SEJONG, Jan. 11 (Korea Bizwire) – South Korea will inject a fresh 15 billion won (US$12.5 million) worth of greenhouse gas emissions rights in the trading market this year as part of its efforts to encourage businesses to join the carbon trading system, the finance ministry here said Wednesday. A government panel chaired by Vice [...]
SEOUL, Nov. 22 (Korea Bizwire) – The South Korean government is set to reveal an investigative report on the potential falsification of emissions documents, with a focus on imported vehicle manufacturers. The results, scheduled to be released by the end of the month, are likely to lead to sales bans and revoked vehicle certifications for [...]
SEOUL, Nov. 17 (Korea Bizwire) – Korean Audi owners filed a lawsuit Thursday against Volkswagen Group, Audi Volkswagen Korea, and local dealerships, following the recent disclosure that certain Audi vehicles have the technology to distort CO2 emissions when they are tested. According to sources, 19 Audi owners filed a damages suit with the Seoul Central [...]
SEOUL, July 22 (Korea Bizwire) – German carmaker Volkswagen has decided to voluntarily suspend sales of its vehicle models implicated in an emissions scandal in South Korea, market sources said Friday. In a recent letter to local dealers, Audi Volkswagen Korea, the South Korean unit of the German carmaker, said it will stop delivering 79 [...]
SEJONG, July 8 (Korea Bizwire) – South Korea and the European Union on Friday joined hands to develop the former’s greenhouse gas emissions trading system (ETS) in a way to bolster their bilateral cooperation on climate change, the finance ministry here said. In a ceremony held in Seoul, the Seoul-Brussels joint emissions trading system cooperation [...]
SEJONG, June 29 (Korea Bizwire) – Starting in the latter half of the year, the government will provide a tax rebate of up to 1 million won ($862) for new car purchases when car owners scrap their old diesel vehicles. It will also expand its investment in the eco-friendly sector, taking on projects such as [...]
SEOUL, June 24 (Korea Bizwire) – Seoul prosecutors formally arrested an executive of the local unit of Volkswagen on Friday over his alleged involvement in the German carmaker’s irregularities that came into light following its emissions scandal. The Seoul Central District Court issued a warrant to arrest the executive in charge of the vehicles’ certification [...]
SEOUL, June 16 (Korea Bizwire) – A recent investigation has revealed that Audi Volkswagen Korea ignored the Ministry of Environment’s warning about excessive NOx emissions from the company’s diesel vehicles five years ago. “The ministry requested that Audi Volkswagen Korea provide improvement measures for its diesel vehicles’ excessive emissions of NOx in 2011, which the [...]
SEOUL, June 10 (Korea Bizwire) – Volkswagen customers have submitted a petition to the Ministry of Environment, demanding that their vehicle purchases be refunded in lieu of a recall. Seoul Central District Prosecutors’ Office said Thursday that Audi Volkswagen Korea arbitrarily changed key parts of some 50,000 vehicles, altering their emissions. The ministry rejected Volkswagen’s [...]
SEJONG, June 7 (Korea Bizwire) — South Korea’s government on Tuesday ordered Nissan Korea Co., the local unit of the Japanese carmaker, to recall hundreds of its SUVs sold here and banned sales of vehicles cited as fabricating emissions results. The Ministry of Environment slapped 340 million won (US$286,000) in fines on Nissan Korea and [...]