SEOUL, March 27 (Korea Bizwire) – The South Korean government announced on March 26 an expanded loan program offering interest rate subsidies to small and medium-sized manufacturers of eco-friendly vehicle components, part of its ongoing push to strengthen the nation’s green automotive sector. Under the program, eligible companies can receive loans of up to 10 [...]
SEOUL, May 30 (Korea Bizwire) – South Korea’s automakers led all industries in cash dividends paid to shareholders last year, reflecting a boom in exports and demand for eco-friendly vehicles even as a global chip slump weighed on technology giants. Listed companies distributed a total of 29.5 trillion won in cash dividends for 2023, up 3.3% [...]
SEOUL, Oct. 19 (Korea Bizwire) – Hyundai Group affiliates Hyundai Motor Company and Kia Motors are rapidly expanding their Chinese operations, and their latest strategy is to target young consumers with green vehicles and SUVs. The Chinese government has grown more sensitive to environmental concerns in recent years, and has set out various policies to [...]
SEOUL, Mar. 2 (Korea Bizwire) — South Korea’s second-ranked carmaker, Kia Motors Corp., said Tuesday that it has sold more than 10,000 units of the Soul electric vehicle (EV) in less than two years after its launch, helped by strong demand from the European market. The Soul EV, the electric vehicle variant of the Soul [...]
SEOUL, Nov. 14 (Korea Bizwire) – Hyundai Motor Group plans to expand its green vehicle models by 2020. As part of its long-term plan, it will launch a new hybrid electric vehicle in competition with the Prius manufactured by Toyota. The auto maker announced on November 12 that it would increase the number of eco-friendly car [...]