SEOUL, May 26 (Korea Bizwire) – Amid the ongoing restructuring of the Korean shipbuilding industry, stories of insolvent global enterprises that have managed to resuscitate themselves have attracted attention. Quick decision-making and bold government support are believed to be the key factors for their revival. GM is one of the companies that succeeded in resuscitating itself, [...]
SEOUL, Aug. 31 (Korea Bizwire) – “Labor costs in Korea are rising rapidly. For example, Indian assembly plants can produce cars at half the cost of those in Korea. The so-called ‘ordinary wage’ issue will affect all Korean industries – not just the automobile industry.” Last May, Sergio Rocha, president and CEO of GM Korea, [...]
SEOUL, Aug. 11 (Korea Bizwire) – Armed with price competitiveness, the bestselling Chevrolet Impala from General Motors is brightening its sales outlook in Korea with pre-sales of more than 1,000 units. According to GM Korea, the local unit of GM, it received more than 1,000 pre-sales for the flagship Chevrolet sedan in just six days since [...]
SEOUL, July 17 (Korea Bizwire) – Preorders for GM Korea‘s latest version of the Spark city car have topped 3,000 in less than three weeks since its media showcase, industry data showed Friday. On July 1, GM Korea, the local unit of U.S. carmaker General Motors, held a media event where it showcased the next-generation [...]
SEOUL, July 8 (Korea Bizwire) — The number of cars subject to safety-related recalls in South Korea jumped over 25 percent in the first half of 2015 as automakers tended to voluntarily recall vehicles suspected of possible defects, data showed Wednesday. Local and foreign automakers recalled 425,212 cars during the January-June period for safety-related defects, [...]
ILSAN, South Korea, May 4 (Korea Bizwire) — GM Korea, the local unit of U.S. automaker General Motors, said Monday it will introduce the next-generation Chevrolet Volt plug-in hybrid to the South Korean market next year, showcasing its state-of-the-art green car technology to local customers. The second-generation Volt, unveiled at the Chicago Auto Show in [...]
SEOUL, April 30 (Korea Bizwire) — South Korea’s car imports outpaced combined exports by three major automakers for the first time in the first quarter, industry data showed, indicating that the foreign car market is fast growing here. According to the data, South Korea imported US$2.5 billion worth of vehicles during the January-March period, up [...]
SEOUL, April 16 (Korea Bizwire) — Audi Volkswagen Korea, the local importer of the German company, outpaced GM Korea in domestic sales last year, signaling a change in the car market that has been long dominated by major local makers, industry data showed Thursday. Audi Volkswagen Korea reported to financial authorities here that its domestic sales [...]
SEOUL, Jan. 28 (Korea Bizwire) — Hyundai Motor Company is teaming up with Baidu, China’s largest Internet portal, to venture into one of the most promising fields in the global automotive market: the connected car business. The Seoul-based car manufacturer announced on January 27 that China’s top search engine would participate in efforts to sell cars [...]