The South Korean government on Sunday decided to further extend tax cuts on fuel consumption as part of efforts to ease inflationary pressure from surging energy costs. Starting next month, the legal cap of fuel tax cuts will be increased to 37 percent from the current 30 percent. The tentative measure will be effective until the end of this year. "The government will immediately implement meas...

Hybrids, EVs now make up more than 10 percent of automotive duo’s total sales

Kia’s 2nd generation Niro boasts longer driving range with cheaper price tag

Lime, the world’s leading operator of rented electric scooters and bikes, said in a statement on Wednesday that it will be withdrawing its operations from South Korea on June 30. Constant traffic law revisions and differing local government policies were named by the company as the primary reasons behind this “tentative suspension” of operations. Lime saw a sharp drop in its customers in 2021, ...

Early this month, an electric vehicle caught fire in Busan, sparking safety concerns among drivers of battery-powered cars. It was an Ioniq 5, Hyundai Motor’s all-electric model, that went up in flames just three seconds after crashing into a highway toll gate. The driver and one passenger in the car died in the accident, but investigations are ongoing to figure out whether they died from the c...

Air carriers to end ‘no-landing’ flight services

A promotional image unveils the entire exterior of SsangYong Motor's new mid-sized SUV Torres. Under the brand slogan, “Adventurous,” the SUV maker mixed retro and future-oriented design elements while securing a large cargo space of up to 703 liters, capable of storing four caddie bags and more. Other technological features like Lane Keeping Assist and Forward Collision Warning have been added ...

rench carmaker to design large and electric-powered vehicle to target local market

Minister of Land, Infrastructure and Transport Won Hee-ryong gives a thumbs-up during a test operation of Hyundai Motor’s level 4 autonomous car-hailing service RoboRide, delivered by Ioniq 5 in Gangnam, Seoul, Thursday. The carmaker said it will run the service via car-hailing service application i.M. between 10 a.m. and 4 p.m. to minimize inconvenience of commuters. Up to three passengers can ...

The global market share of Korean-made battery electric vehicles (BEVs) and lithium-ion batteries shrank last year with greater competition from Chinese and German makers, according to a report released on Wednesday by a major business lobby group. Based on statistics from the International Trade Center, the Federation of Korean Industries (FKI) analyzed the changing landscape of the global BEV ...

Jeju Air, South Korea's biggest budget carrier, will provide cheap tickets, modernize aircraft and expand its business spectrum to secure its future growth in the post-pandemic era, its chief executive said Tuesday. As both domestic and international travel demands are slowly picking up, Jeju Air CEO Kim E-bae said the company has come to a point where it should make a decision on how to maintai...

GM Korea’s new chief executive Roberto Rempel has made his first on-site inspection to the carmaker‘s No. 1 Bupyeong plant early this month, officials said Monday, making a leadership change official within the US company’s operation in South Korea. The new CEO, however, faces a series of challenges ahead. The carmaker has been making a last-ditch effort to restore its market share amid rumors c...

The country’s largest air carrier Korean Air will develop common bulkhead propellant tanks for small satellite launch vehicles by 2027 as part of the Ministry of Science and ICT’s Space Pioneer project, the company said Friday. Under a ministry-led program, some 211.5 billion won ($170 million) will be spent until 2030 on developing the country’s bulkhead propellant tanks for small satellite lau...

South Korea’s Transport Ministry said Friday that it would lift restrictions on the operation of international flights and also expand the number of outbound routes, getting ready to go back to pre-pandemic status. Authorities said measures for aviation industry’s normalization will be applied from Wednesday. The ministry has approved some 762 international flights per week for June, 230 more f...

Consortiums each led by SKT, Hyundai, Kakao vie for market leadership of emerging business