SEOUL, Oct. 31 (Korea Bizwire) – It’s not uncommon to see celebrities appearing in ads, hawking a multinational company’s latest hair gel or next-generation vacuum cleaner, especially in South Korea, where those in the public eye are seen in advertisements for virtually anything with financial value. In a saturated market of public figure-endorsed product advertisements, [...]
SEJONG, Oct. 18 (Korea Bizwire) — South Korea’s exports of automobiles jumped nearly 60 percent last month from a year earlier on recovering demand from Europe and North America, government data showed Wednesday. The total value of vehicles shipped overseas reached US$3.82 billion in September, up 57.6 percent from a year earlier, according to the [...]
SEOUL, Sept. 29 (Korea Bizwire) – Hyundai and Kia finally have some good news coming from the Chinese market as American market research company J.D. Power listed the South Korean automakers 1st and 2nd respectively in its 2017 China Initial Quality Study. The study, published on September 28, was conducted from last September to May [...]
SEOUL, Sept. 26 (Korea Bizwire) — South Korea’s leading automakers Hyundai Motor Co. and Kia Motors Corp. are poised to unveil a series of new cars in China in a bid to help revive slumping sales in the world’s top auto market, sources said Tuesday. Industry leader Hyundai Motor and its smaller affiliate Kia Motors [...]
SEOUL, Sept. 4 (Korea Bizwire) — Hyundai Motor Co. and Kia Motors Corp., South Korea’s two biggest carmakers, saw their sales growth in Chile slow down this year due to the won’s strength, a state-run trade promotion agency said Monday. In the January-July period, Hyundai’s sales in the Latin American market grew 11 percent on-year to 17,276 [...]
SEOUL, Aug. 24 (Korea Bizwire) — Used car dealer SK Encar released a report on August 23 that showed that the Kia Ray and Mercedes Benz E-Class were the fastest-selling cars in their respective categories. The company combed through its website data from the past two months to compare the amount time from when a [...]
SEOUL, Aug. 16 (Korea Bizwire) – On August 15, with reports from Hyundai and Kia indicating that 141,681 eco-friendly cars had been sold thus far this year as of the end of last month, it is believed that the automotive giants may have found a possible lifeline out of their troubles. To put into perspective [...]
SEOUL, Aug. 10 (Korea Bizwire) – South Korea’s automakers on Thursday warned they may have to move their factories offshore pending an imminent court ruling that could increase the cost of salaries by trillions of won. The Korea Automobile Manufacturers Association (KAMA), representing the country’s five car producers, said in a joint statement that a [...]
SEOUL, Aug. 8 (Korea Bizwire) — GM Korea is reportedly in dire straits. The company already saw a partial work stoppage on July 17. Circumstances have become so serious that the Korea Development Bank (KDB Bank), the second largest shareholder in the company, questioned the automaker’s ability to stay in business. In 2002, Daewoo Motors was [...]
SEOUL, July 3 (Korea Bizwire) – South Korea’s five carmakers said Monday their combined sales fell 14 percent last month from a year earlier as overseas vehicle demand remained weak. The five automakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — sold a total [...]