SEOUL, March 10 (Korea Bizwire) — South Korea ranked seventh in the world in terms of domestic vehicle output last year, an industry association said Monday, down one notch from a year earlier due to a drop in output amid an economic slowdown. The country’s domestic car production fell to 4.13 million units in 2024 [...]
SEOUL, Jan. 22 (Korea Bizwire) — The total number of registered vehicles in South Korea surpassed 26 million units last year, with eco-friendly cars accounting for over 10 percent for the first time, driven by growth in hybrid vehicle sales, the government said Wednesday. According to the Ministry of Land, Infrastructure and Transport, the total [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s Ministry of Environment announced on January 1 its 2025 hydrogen vehicle subsidy plan, allocating funds to support the purchase of 11,000 hydrogen passenger cars, 2,000 hydrogen buses, and 10 units each of hydrogen-powered trucks and street-cleaning vehicles. The finalized subsidy guidelines, to be published on January 2 [...]
SEOUL, Dec. 12 (Korea Bizwire) – Chinese commercial vehicles captured their highest monthly market share of the year in South Korea’s imported vehicle market last month, raising concerns about growing Chinese dominance as companies like BYD prepare to enter the passenger car market. According to data from Kaizen Auto Research Institute released on December 11, Chinese [...]
WASHINGTON, Sept. 10 (Korea Bizwire) — The United States will give “lead time” for South Korean companies to adjust their supply chains for connected vehicles, a senior U.S. official said Tuesday, as Washington is pushing for regulations to address security risks stemming from those imported vehicles using certain Chinese components. Under Secretary of Commerce for [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korea’s auto exports sank 21.4 percent on-year in 2020 as the new coronavirus pandemic disrupted global supply chains and sapped demand, data showed on Thursday. The country’s shipments of cars reached 1.89 million units last year, compared with 2.4 million units posted in 2019, according to the data [...]
DAEJEON, Aug. 22 (Korea Bizwire) — Technological developments are on their way to use augmented reality (AR) in the driver’s seat to display navigation information on the windshield, increasing driving safety. The Korean Intellectual Property Office (KIPO) reported on Wednesday that patents related to navigation systems using AR technology have increased in number. While there [...]
SEOUL, Apr. 30 (Korea Bizwire) — South Korea has developed a new technology that automatically adjusts the height of an automobile when crossing school zones or speed humps, increasing safety and providing better driving experience. Hyundai Mobis Co., South Korea’s biggest auto parts maker, announced on Monday that it has developed so-called Preview Air Suspension [...]
SEOUL, Nov. 7 (Korea Bizwire) – The South Korean government said Monday that it will soon revise the law on vehicle safety to allow camera monitor systems to replace side and rear view mirrors in cars, reducing greenhouse gas emissions, as well as the possibility of accidents. A mirrorless vehicle may save up to 10 [...]