Korea Joongang Daily
Korea JoongAng Daily

To the junkyard

The government is considering a plan to offer a 70 percent reduction in individual consumption taxes to car owners who scrap vehicles that are over 10 years old and purchase new cars.

2024-02-01

Steel, EVs face uncertain future amid global economic slowdown

More than half of Korea's industry-leading companies reported lower on-year profits in Q3, with only the food and aviation sectors seeing optimistic forecasts.

2023-11-20

Three foreign, one Korean carmakers to recall over 10,000 vehicles for defective components

Mercedes-Benz Korea, BMW Group Korea, Volkswagen Group Korea and Korean electric van manufacturer Jeis Mobility, are voluntarily recalling a total of 10,981 units of 20 different models, the ministry said.

2023-11-15

Car sales drive Korea to trade surplus, exports fall again

Korea logged a trade surplus for the second month in a row in July on strong car sales and a drop in oil prices.

2023-08-01

Car sales suffering except for EVs, hybrids

According to the Ministry of Trade, Industry and Energy on Monday, domestic automobile sales fell 11.1 percent in April to 143,167 units compared to a year before, including both locally made cars and imports.

2022-05-16

Hyundai Glovis sells 30% of Polish subsidiary to Chinese company

Hyundai Glovis is selling a major stake in a European subsidiary to a Chinese company with the hope of expanding rail cargo services between Europe and China.

2021-03-03

Auto exports snap 5-month decline in Sept. amid coronavirus

Korea's exports of automobiles rebounded in September to snap a decline of five consecutive months on the back of improved shipments to North America, data showed Monday.

2020-10-19

Renault Samsung to export XM3 to Chile

Renault Samsung is taking its compact SUV XM3 overseas, starting by exporting 140 units this year to Chile. The vehicle is one of the most popular compact SUVs in Korea despite having launched in an already-competitive segment last March.

2020-07-09