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Thu, March 4, 2021 | 09:51

Korea to increase investment for future cars under New Deal scheme

Korea to increase investment for future cars under New Deal scheme

South Korea's industry ministry said Thursday it plans to raise 200 billion won (US$179 million) this year to nurture eco-friendly automobiles and other state-of-the-art technologies, in line with the country's New Deal drive announced last year. The Ministry of Trade, Industry and Energy said it has clinched a memorandum of understanding with a slew of industrial and financi...

2021-02-04 14:37

BMW 4 Series Coupe seeks distinguished presence

BMW 4 Series Coupe seeks distinguished presence

INCHEON - The new BMW 4 Series has arrived on the Korean market, sporting a distinctive look appealing to BMW fans here looking for something different. The 4 Series has long been considered a sportier version of the 3 Series sedan, but it failed to receive the same popularity as its sibling as the two vehicles looked almost the same but the latter was more expensive.

Nam Hyun-woo | 2021-02-03 15:58

KDB says no fresh funding for SsangYong Motor until potential investor shows up

KDB says no fresh funding for SsangYong Motor until potential investor shows up

State-run Korea Development Bank (KDB), the main creditor of ailing SsangYong Motor, has urged the parties involved in reviving the cash-strapped carmaker to be more forward-looking at a crucial time.

Baek Byung-yeul | 2021-02-02 18:05

SK likely to secure status as key Hyundai E-GMP supplier

SK likely to secure status as key Hyundai E-GMP supplier

SK Innovation will likely secure the status of a dominant supplier for Hyundai's E-GMP electric vehicle platform, as it is included on the list of vendors for a third batch of supplies.

Kim Bo-eun | 2021-02-02 11:31

South Korea's exports of electric vehicles shoot up 66 percent in 2020: report

South Korea's exports of electric vehicles shoot up 66 percent in 2020: report

South Korea's exports of electric vehicles (EVs) advanced nearly 66 percent on-year in 2020, data showed Sunday, despite the overall slump in the automobile industry amid the COVID-19 pandemic. Outbound shipments of EVs came to US$3.9 billion in 2020, marking the first time for the volume to surpass that of hybrid cars, whose exports came to $2.5 billion last year, according ...

2021-01-31 11:39

Volkswagen T-Roc appeals Golf fans in Korea

Volkswagen T-Roc appeals Golf fans in Korea

Volkswagen has debuted the new T-Roc here to create a splash in the highly contested subcompact crossover SUV segment with its competitive pricing and agile performance, as well as making a strong appeal to Korean fans of the brand's best-selling hatchback, the Golf.

Nam Hyun-woo | 2021-01-29 15:11

Competition heating up for hydrogen vehicles

Competition heating up for hydrogen vehicles

The market for hydrogen-powered vehicles is gaining momentum amid global interest in the fuel as a means of meeting carbon targets. Major economies have announced plans to achieve carbon neutrality by 2050 and have unveiled national roadmaps for building a hydrogen economy. These efforts are placing an increased focus on eco-friendly vehicles such as electric vehicles (EVs) a...

Kim Bo-eun | 2021-01-28 17:50

GM Korea chief picks labor issues as key concern for investment

GM Korea chief picks labor issues as key concern for investment

Lack of labor flexibility, continued industrial action and annual wage negotiations remain major challenges to doing business in South Korea and attracting foreign investment, the chief of GM Korea Co. said Thursday. GM Korea President and Chief Executive Kaher Kazem said there are things to be improved to make multinational companies invest further in Korea.

2021-01-28 16:12

Hyundai Mobis' EV component sales takes off

Hyundai Mobis' EV component sales takes off

Hyundai Mobis said Thursday its electric vehicle (EV) component sales showed noticeable improvements in the fourth quarter of 2020, enabling the Hyundai Motor Group auto parts unit to increase its order target by more than $1 billion for this year.

Nam Hyun-woo | 2021-01-28 15:54

Tesla reports $721 million in 2020 earnings, first profitable year

Tesla reports $721 million in 2020 earnings, first profitable year

Tesla Motors reported its first annual profit Wednesday following a big jump in auto deliveries despite the upheaval of the coronavirus pandemic as it signaled confidence for more growth in 2021.

2021-01-28 13:35

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