SEOUL, Nov. 25 (Korea Bizwire) – Following the devastating Mercedes-Benz EQE fire in an Incheon apartment complex parking garage last August, which damaged approximately 800 vehicles, concerns about rising auto insurance premiums have become reality, even as traffic accidents and fatalities decline. According to the Korea Automobile Citizens’ Association, traffic fatalities have dropped by half, from [...]
SEOUL, March 15 (Korea Bizwire) — South Korean President-elect Yoon Suk-yeol’s campaign pledge to change the color of corporate vehicle license plates to light green is creating a sense of strain among luxury car importers. Yoon’s pledge is aimed at preventing the wealthy from evading tax by registering luxury cars they use for personal purpose [...]
SEOUL, Apr. 6 (Korea Bizwire) — Hyundai Motor Co. is eyeing opportunities to expand into the Middle Eastern luxury car market by showcasing its luxury Genesis sedans at a local conference, the company said Wednesday. Hyundai will provide four G90 top-of-the-line full-size sedans and another four G80 executive cars as official vehicles for the Conde [...]
SEOUL, Sept. 5 (Korea Bizwire) – The chief of South Korea’s top automaker Hyundai Motor Group on Monday called for stepped-up efforts to develop new luxury and environmentally friendly cars to meet future demands, saying the future is already here. Group Chairman Chung Mong-koo also stressed the importance of the U.S. market as he headed [...]
SEOUL, Dec. 9 (Korea Bizwire) – Hyundai Motor Co., South Korea’s largest carmaker, launched the EQ900 flagship sedan Wednesday, targeting the global luxury vehicle market mostly dominated by German brands. The EQ900 is the first model unveiled under the name of Genesis, which Hyundai Motor recently launched as an independent luxury brand. “The EQ900 is [...]
SEOUL, Korea, April 25, 2014 (Korea Bizwire) – KIA Motors seeks to achieve a buzz effect on its newly-released sedan, K9, by concentrating on the “experiential marketing.” The motor group has recently held “K9 Driving Experience Dining” event, which is the second since the launch of the luxury sedan this year. The participants of the [...]
SEOUL, South Korea, Sept 30 (Korea Bizwire) – The number of import cars on Korea’s roads is quickly on the rise. According to the Ministry of Land, Infrastructure, and Transportation, as many as 585,218 import cars have been registered with motor vehicle agencies in Korea for the eight-month period between January and August. This is more [...]
SEOUL, Korea, July 30 (Korea Bizwire) – One of the main jobs of the official task force in charge of collecting the overdue payment from former Korean President Chun Doo-whan is verifying the authenticity and appraising the value of confiscated art pieces. This is not new as various high-end commodities such as art, supercars, and [...]