Porsche Korea CEO Holger Gerrmann was elected as the ninth German chairperson at the 41st Korean-German Chamber of Commerce and Industry Annual General Meeting on Thursday. Run by a co-chairing system, KGCCI will now be led by Gerrmann and Korean Chairperson Park Hyun-nam, who is also the Deutsche Bank CEO. “We will continue to create the foundation for Korean and German companies to grow together, honoring the long-standing successful business relationships of our two countries and emp

JEJU CITY -- The new and partially electrified SUV lineup Lexus NX could be an alternative for big car-loving Korean customers looking for a fuel-efficient vehicle that does not compromise on luxury. NX 450h+, the first plug-in hybrid vehicle from the luxury auto brand, can drive up to an average of 23.8 kilometers on a liter of gas. Its fuel efficiency is close to that of the all-new Kia Niro, also a hybrid sport utility vehicle that can drive up to an average of 23.7 kilometers on a liter of

Execs says more EVs under GM brands being considered for Korea sales

A sketch released on Tuesday shows the design concept of Hyundai Motor’s new electric vehicle Ioniq 6.  Hyundai Motor said Ioniq 6 will have streamliner design typology called Electrified Streamliner, with simple lines and aerodynamic form, reflecting its commitment to fulfill both aesthetic and functional aspects of an EV. Built on the carmaker’s Electric Global Modular Platform which is developed to provide an optimized wheelbase and interior design, Ioniq 6’s full de

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 measures to ease the burden from high oil prices,” Finance Minister Choo Kyung-ho told repor

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, when a law that made wearing helmets mandatory for people riding electric scooters

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 crash or whether they were not able to escape from the fire that broke out so quickly. While th

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 as standard options. The price ranges between 26.9 million won and 30.4 million wo

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 use the service, including one person able to drive the vehicle in case of an emergency. Level

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 and lithium-ion battery industry which is growing at over 20 percent on annual average. BEVs refer t

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 maintain its leading role in the low-cost carrier market. "As an LCC, our key competitiveness lies in