SEOUL, Oct. 9 (Korea Bizwire) — The number of imported electric vehicles (EVs) newly registered in South Korea fell 40.1 percent on-year over the August-September period, data showed Wednesday, amid the public’s lingering concerns over their safety. According to data compiled by the Korea Automobile Importers & Distributors Association, 6,868 imported EVs were newly registered [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s top four conglomerates accounted for more than 40 percent of the country’s annual gross domestic product (GDP) in 2023, data showed Wednesday. The combined sales of the four family-controlled groups — Samsung, SK, Hyundai Motor and LG — reached 980.5 trillion won (US$729 billion) in 2023, accounting [...]
SEOUL, Oct. 6 (Korea Bizwire) – Over 60 percent of South Korea’s automotive exports throughout most of 2024 have been shipped to North America, industry data showed Sunday, raising calls for companies to consider more balanced global export strategies. According to industry data, exports of the five automotive firms with manufacturing bases in South Korea [...]
SEOUL, Oct. 5 (Korea Bizwire) – A recent survey has revealed that 42.7% of startup founders in South Korea view the current startup ecosystem negatively, highlighting growing concerns over the challenging business climate in one of Asia’s tech hubs. The survey, conducted by Google as part of its ChangGoo program, polled 100 startup leaders between September [...]
SEOUL, Sept. 6 (Korea Bizwire) – BMW Korea is maintaining a lead in South Korea’s imported vehicle market so far this year, industry data showed Friday, as main rival Mercedes-Benz Korea is faced with a brand reputation setback after a massive fire that broke out from one of its electric vehicles. According to the Korea [...]
SEOUL, Aug. 22 (Korea Bizwire) –Car output fell more than 17 percent on-year in July due to weak domestic demand and partial strikes at some companies, industry data showed Thursday. According to the Korea Automobile & Mobility Association, the total production volume of five automakers last month totaled 290,910 units, down 17.6 percent from [...]
SEOUL, July 13 (Korea Bizwire) – South Korean consumers show the highest enthusiasm for using artificial intelligence (AI) technology on mobile devices, according to a study released by Samsung Electronics on July 11. The findings were unveiled at the “Salon de AI,” a Galaxy AI media forum held in Paris, following the company’s Galaxy product launch [...]
SEOUL, Jun. 23 (Korea Bizwire) – South Korea’s car exports are forecast to reach a record high this year, driven by solid demand for eco-friendly models and sport utility vehicles, an industry association said Sunday. According to the Korea Automobile and Mobility Association (KAMA), the country’s car exports are projected to grow 5.4 percent on-year [...]
SEOUL, Jun. 23 (Korea Bizwire) – Research and development (R&D) expenditures by major South Korean companies hit an all-time high last year despite their falling sales amid an economic slowdown, data showed Sunday. The country’s top 1,000 companies made investments of 72.5 trillion won (US$52.12 billion) combined in 2023, up 8.7 percent from a year [...]
SEOUL, Jun. 4 (Korea Bizwire) – As the growth of budget mobile carriers persists in South Korea, SK Telecom, the nation’s largest mobile operator, has continued to lose overall market share. However, a new report shows the company still commands a significant portion of 5G subscriptions. According to a report evaluating the competitiveness of South Korea’s [...]