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, Apr. 14 (Korea Bizwire) — South Korea’s electric vehicle (EV) market is anticipated to expand more than fivefold by next year on the back of government subsidies to boost sales of the eco-friendly cars, ministry officials said Tuesday. As of the end of last year, the number of registered battery-powered cars in the country [...]
SEOUL, April 13 (Korea Bizwire) — Renault Samsung Motor, the local unit of French automaker Renault S. A., saw its profit surge last year thanks to strong sales of cars at home and abroad, a result that far outperformed GM Korea, its larger rival operating in South Korea, data showed Monday. In a regulatory filing, Renault [...]
“Currently we are reviewing whether the Chevy Impala is a good model to be introduced in the Korean market. If we decide not to, that’s based on our judgment on marketability.” “The launch of the seventh-generation Corvette is being delayed indefinitely due to Korea’s regulation on automobile noise. Although such regulatory stance may benefit the [...]
SEOUL, Nov. 4 (Korea Bizwire) – GM Korea voluntarily altered the standard mileage of the Chevrolet Cruze and Lacetti Premier 1.8-liter gasoline models and decided to compensate for the error with cash to their owners. On November 3, the South Korean unit of General Motors said in a statement that it decided to downgrade the fuel economy [...]
![[Quote] GM Korea CEO Strikes Back at Former Daewoo Chairman’s Remarks](http://koreabizwire.com/wp/wp-content/uploads/2014/08/kim-woo-jung.jpg "[Quote] GM Korea CEO Strikes Back at Former Daewoo Chairman’s Remarks")
“I have had a hard enough time so far. (after the Daewoo Group’s break-up and his being charged with many convictions in late 1990s). And I guess it’s about time to rectify what has gone wrong with general perceptions and evaluations of the Daewoo Group, which suffered unfair treatment when the Asian financial crisis folded [...]
SEOUL, Aug. 8 (Korea Bizwire) – A light-weight electric pick-up truck will be provided to Jeju residents as the first-ever electric truck model for the commercial use in the volcanic island in Korea’s south. Power Plaza, the provider of the electric truck called Peace, announced on August 6 that the provincial government included the electric truck [...]
SEOUL, Aug. 3 (Korea Bizwire) — Following the lead of GM Korea, the management of Ssangyong Motor has also proposed to the labor union that it would include regular bonuses as “ordinary wages.” It remains to be seen whether this will be adopted in other car makers and all other manufacturing firms. Unions have long demanded [...]
SEOUL, July 4 (Korea Bizwire) – While Korea’s large business groups like Samsung, Hyundai and SK gained about half its sales from overseas markets, their domestic sales decreased 5 percent and their portion fell 2 percentage points respectively last year. According to a recent survey conducted by CEO Score investigating the business performances of the nation’s [...]