SEOUL, July 5 (Korea Bizwire) — South Korea’s imports of luxury cars, priced at over 300 million won (US$230,570) per unit, continue to grow steadily. Based on data received from the Ministry of Land, Infrastructure, and Transport, Rep. Yang Kyung-sook of the Democratic Party reported that the cumulative number of registered luxury vehicles with a [...]
SEOUL, April 10 (Korea Bizwire) — South Korea is becoming a ferocious battlefield of high-end imported cars after setting a new sales records this year. Porsche AG sold 2,966 vehicles in South Korea for the first quarter of this year, the most it has sold in a single quarter since 2014 when the company launched [...]
SEOUL, Jan. 25 (Korea Bizwire) — Sales of luxury imported cars priced over 100 million won (US$81,100) set a new record in South Korea last year. The Korea Automobile Importers & Distributors Association reported that 71,899 luxury vehicles priced over 100 million won were sold last year, an increase of 10.3 percent from the previous [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korea saw its sales of luxury imported cars rise sharply over the first nine months of the year despite the new coronavirus pandemic straining the economy, data showed Sunday. The combined sales of imported automobiles with a price tag of more than 100 million won (US$88,600) surpassed 30,000 [...]
SEOUL, June 11 (Korea Bizwire) — The popularity of high-end imported auto brands such as Lamborghini, Bentley, and Porsche is growing in South Korea, mainly driven by purchases from corporate bodies. The Korea Automobile Importers and Distributors Association reported Wednesday that Lamborghini sales this year had reached 84 cars as of April, up by 265 [...]
SEOUL, Dec. 15 (Korea Bizwire) — The demand for luxury cars in South Korea increased sharply in 2019 from a year earlier, data showed Sunday, despite the overall decrease in the sales of imported cars here. Sales of imported luxury cars with price tags of 300 million won (US$255,972) or higher reached 360 units over [...]
SEOUL, Oct. 23 (Korea Bizwire) — Sales of luxury cars in South Korea exceed those of richer countries, industry data showed Sunday. Numbers provided by foreign carmakers and the Korea Automobile Importers and Distributors Association (KAIDA) showed South Koreans bought more new BMW 5-series and Mercedes-Benz E-class cars than Germans and neighbors in Japan from [...]
SEOUL, March 15 (Korea Bizwire) – South Korea’s automobile production surged in February amid strong demand for eco-friendly and luxury vehicles both at home and abroad, government data showed Wednesday. Automobile output rose 9.8 percent to 336,032 units last month from a year earlier, according to statistics released by the Ministry of Trade, Industry and [...]
SEOUL, Sep. 30 (Korea Bizwire) — The regional investigation unit within the Seoul Metropolitan Police Agency said on September 29 that its investigators arrested a group of suspects implicated in a series of insurance scams, with 77 others booked without detention. According to the police agency, the perpetrators took a total of 600 million won (US$569,000) in 25 [...]