Journalist

Lee Seong-jin
  • Low-Priced Tesla, BYD EVs Gain in South Korea, Pressuring Hyundai and Kia
    Low-Priced Tesla, BYD EVs Gain in South Korea, Pressuring Hyundai and Kia Imported electric vehicles are rapidly expanding in South Korea, increasing pressure on domestic brands such as Hyundai Motor and Kia. Tesla, which sold nearly 60,000 vehicles last year, has already overtaken Hyundai in sales, and value-focused Chinese brands led by BYD are also gaining ground, raising the stakes for Hyundai and Kia in their home market. According to Kaizu Data Research Institute data released on Feb. 8, South Korea registered 5,733 EVs in January, up 141.1% from 2,378 a year earlier. More than half were Tesla (1,968) and BYD (1,347). Tesla helped drive the domestic EV market last year with sales nearing 60,000. Since 2023, it has lowered prices by importing China-made versions of the Model Y and Model 3. The Korea Automobile & Mobility Association said Tesla’s U.S.-made models cost 59 million won, compared with about 53 million won for China-made models. BYD also topped 6,000 sales in its first year in South Korea, signaling room to grow. With Tesla and BYD performing strongly, sales of China-made EVs totaled 74,728 last year, more than doubling from the previous year. In its second year in South Korea, BYD recently unveiled the compact hatchback Dolphin to sharpen its value pitch. Its price is 24.5 million won after tax benefits for eco-friendly vehicles, before subsidies are applied. Hyundai and Kia are responding by expanding incentives to defend their domestic market. Kia has cut prices this year for the EV5 long-range compact SUV by 2.8 million won and for the EV6 by 3 million won. For the EV5 standard model, the out-of-pocket price could fall to the 34 million won range after central and local government subsidies, the company said. Hyundai is also strengthening low-interest financing for EVs. Last month it lowered the installment-loan rate under its “Hyundai EV Burden Down Promotion” by 2.6 percentage points, from 5.4% to 2.8%. The discounted rate applies to the Ioniq 5, Ioniq 6 and Kona Electric. Under the promotion, Hyundai said buyers could save about 2.5 million won in interest on the Ioniq 5 and Ioniq 6, and about 2.1 million won on the Kona Electric. Jung Myung Hoon, a senior researcher at KAMA, said the EV market rebound in 2025 reflects a combination of demand concentrated in a few popular models, government support such as subsidies and manufacturers’ price competition, rather than broad-based mass adoption or a structural shift in demand. He warned that the rapid inflow of China-made EVs can help expand adoption by lowering prices and widening consumer choice, but it is also intensifying pressure on South Korea’s manufacturing base and supply-chain competitiveness. He added that because major competitors are already using strong policies to protect their industries, South Korea should discuss support measures such as a “domestic production promotion tax system” to bolster price competitiveness for locally made EVs and protect the manufacturing ecosystem.* This article has been translated by AI. 2026-02-09 05:03:00
  • Renault Korea to Offer Free Vehicle Safety Checks Ahead of Lunar New Year Holiday
    Renault Korea to Offer Free Vehicle Safety Checks Ahead of Lunar New Year Holiday Renault Korea said Sunday it will offer free vehicle inspections nationwide to support safe driving during the Lunar New Year holiday, when many drivers travel long distances. The company will also run a giveaway for customers who pay for repairs during the period. The free-check program will run Feb. 9-13, longer than the joint schedule set by the Korea Automobile Mobility Industry Association. Customers can visit any of Renault Korea’s seven company-run service centers or 364 service-network locations for the inspection. Inspection items include lamps; key fluids such as power-steering oil, engine oil, brake oil, washer fluid, coolant and automatic transmission oil; wiper operation; front and rear brake pads; tire condition and wear; and winter-safety essentials including the battery and terminals and belt cracking. Renault Korea said it will also hold an event for customers who need repairs based on the inspection results. Among customers who receive at least 50,000 won in paid repairs at service-network locations during the free-check period, the company will draw 100 winners a day, for a total of 500, and provide each a mobile fuel voucher worth 20,000 won.* This article has been translated by AI. 2026-02-08 16:36:00
  • Hybrids Top 30% of South Korea Auto Sales for First Time in 2024
    Hybrids Top 30% of South Korea Auto Sales for First Time in 2024 Hybrid vehicles accounted for more than 30% of South Korea’s domestic auto sales for the first time last year, government data showed. According to vehicle registration statistics released Sunday by the Ministry of Land, Infrastructure and Transport, the five major automakers — Hyundai Motor, Kia, GM Korea, Renault Korea and KG Mobility — sold a combined 1,373,221 vehicles in the domestic market last year. Of those, 415,921 were hybrids. Hybrids made up 30.3% of total sales, the highest share on record. The hybrid share has climbed steadily in recent years, rising from 10.4% in 2021 to 13.2% in 2022, 19.5% in 2023 and 26.5% in 2024. Hybrid sales volume also nearly tripled, from 149,489 vehicles in 2021 to 415,921 last year. With the shift to full electrification moving more slowly than expected, hybrids have emerged as a mainstream alternative that offers some benefits of electric vehicles without the burden of charging infrastructure, the report said. The report cited fuel efficiency, quiet operation, driving convenience and lower upkeep costs as strengths that help offset drawbacks such as higher prices and long wait times. By model, the Kia Sorento Hybrid led the market with 69,862 sold last year. It was followed by the Kia Carnival Hybrid with 46,458 and the Hyundai Santa Fe Hybrid with 43,064. Renault Korea’s Grand Koleos Hybrid sold 35,352 units, ranking sixth and making it the only non-Hyundai-Kia brand to place in the top 10, the data showed. The auto industry expects the hybrid market to expand further this year. Genesis plans to introduce its first hybrid lineup, and Kia plans to launch a new Seltos Hybrid to strengthen its position in the small SUV segment. Interest in hybrid models is also growing in the imported-car market. Global brands such as BMW and Mercedes-Benz, as well as Chinese brands including BYD and Zeekr, are stepping up efforts to target South Korea by emphasizing efficiency and value, the report said.* This article has been translated by AI. 2026-02-08 15:00:00
  • Hyundai to Add 10 More Dealerships in Brazil This Year to Boost Sales
    Hyundai to Add 10 More Dealerships in Brazil This Year to Boost Sales Hyundai Motor is accelerating an expansion of its sales network in Brazil, aiming to shore up results as its market position has weakened. Industry officials said Hyundai Motor Brazil (HMB) recently opened a new dealership in Campo Mourao, Parana state. The site covers 1,500 square meters, including a 250-square-meter showroom. Hyundai currently operates about 240 official dealerships across five regions in Brazil. It plans to expand to at least 250 by the end of the year, increasing customer touchpoints as it seeks a rebound in the market. Brazil is Hyundai Motor Group’s only production base in Central and South America and is home to Hyundai’s Brazil unit and its regional headquarters. Brazil’s passenger-car sales have risen each year since 2021, when 1,557,957 vehicles were sold, and totaled nearly 2 million last year. Hyundai’s influence, however, has been fading. Hyundai’s annual sales in Brazil have held around 200,000 vehicles, but its market share has declined each year since peaking at 11.87% in 2022. Last year, sales fell from a year earlier and its share slipped to 10.05%. The gap with rivals remains narrow. Hyundai has ranked fourth in Brazil’s passenger-car market for eight straight years, while the top three — Volkswagen (18.32%), Fiat (15.22%) and General Motors (11.18%) — are also competing in a tight race with shares in the teens. Chung Euisun, chairman of Hyundai Motor Group, met in 2024 with Brazilian President Luiz Inacio Lula da Silva and said the group wanted to “grow together with Brazil, not simply sell cars,” announcing plans to invest a total of US$1.1 billion (about 1.46 trillion won) through 2032. Hyundai is developing a dedicated powertrain for hybrid flex-fuel vehicles and plans to introduce electric models such as the Ioniq 5 and Kona Electric in Brazil. The country is pursuing the Green Mobility Innovation (MOVER) program, which offers tax benefits to automakers investing in decarbonization, a move expected to favor Hyundai’s electrification push. Hyundai Motor Group also plans to pursue new business opportunities by extending its global hydrogen network into Central and South America, with Brazil as a hub. It set up a dedicated hydrogen business team for the region in Brazil in late 2023 and is working to develop the market.* This article has been translated by AI. 2026-02-05 18:03:00
  • Hyundai Motor Robotics Lab chief says people matter more than tech as robots advance
    Hyundai Motor Robotics Lab chief says people matter more than tech as robots advance Hyun Dong-jin, an executive director who leads Hyundai Motor and Kia’s Robotics Lab, said that as industry evolves, people matter more than the technology itself because they operate it, understand it and build the systems around it. Speaking Thursday at the fourth Korea Top CEO Forum at the Westin Josun Seoul, Hyun said, “Rather than imagining a dystopia, if we think about how technology can solve social problems, our society can become a warm, technology-based society.” His remarks come as Hyundai Motor Group’s plan to introduce the humanoid robot Atlas is seen as signaling structural changes in the labor market, underscoring the need for productive public discussion and consensus. “Engineers’ efforts and social consensus are needed for robots to fully replace people,” Hyun said. “I think we still have time.” After outlining the development path of artificial intelligence from large language models, or LLMs, to vision-language models, or VLMs, and then vision-language-action, or VLA, Hyun said automation of physical work will arrive last because VLA is the most technically behind. Introducing a dual-arm robot under research at the lab, Hyun said the goal is not to replace people but to take on tasks that could cause illness if done by humans. On Chinese robotics companies, Hyun said China benefits from government support and a large market that allows firms to optimize products through trial and error, adding that they are showing signs of being leaders in physical AI. “We must always stay alert that we could fall behind,” he said, adding, “I will fight fiercely like Adm. Yi Sun-sin, who fought with 12 ships.” Hyun cited functionality and price as key factors in whether robots succeed commercially. “From quality to maintenance and after-sales service, we must manage everything well and offer prices consumers are willing to pay,” he said, stressing the need for engineering efforts toward common use, standardization and modularization. Hyundai Motor and Kia’s Robotics Lab last year unveiled a mass-production model of its autonomous-driving mobility robot platform MobED, and in 2024 launched the industrial wearable robot X-ble Shoulder.* This article has been translated by AI. 2026-02-05 17:30:00
  • Airbus: Asia-Pacific Aviation Services Market to Reach $138.7B by 2044
    Airbus: Asia-Pacific Aviation Services Market to Reach $138.7B by 2044 Airbus said Thursday that demand for aviation services in the Asia-Pacific region, including China and India, is expected to grow to US$138.7 billion by 2044, expanding at a 5.2% compound annual growth rate, according to its latest Global Services Forecast report. The company cited rising air traffic and a growing aircraft fleet as key drivers of medium- to long-term growth. Over the next 20 years, the region will need 19,560 new passenger aircraft, Airbus said, representing 46% of global demand over the period. Asia-Pacific passenger demand is projected to rise 4.4% a year, well above the global average of 3.6%, keeping the region the world’s fastest-growing aviation market. The report identified five main areas expected to lead growth: component maintenance, airframe maintenance, modifications and upgrades, digital and connectivity, and education and training. Component maintenance is forecast to surge to $100 billion in 2044 from $37.1 billion in 2025, driven by fleet expansion and aircraft aging. Airbus said supply-chain instability and a shortage of skilled workers remain structural constraints. Airframe maintenance is expected to grow to $14 billion from $6 billion over the same period. Airbus said new base-maintenance hangars are being built in key markets including India, Indonesia, Malaysia and the Philippines, alongside large-scale investment in MRO infrastructure. Modifications and upgrades are projected to expand to $6.2 billion from $3.8 billion. Airbus said demand is rising for cabin modernization as more complex retrofit work increases for older aircraft, with airlines adding premium cabin products and in-flight connectivity to meet changing passenger expectations. Digital and connectivity services are expected to grow to $11.2 billion from $2.9 billion. Airbus said airlines and MRO providers are accelerating adoption of artificial intelligence and data analytics to improve efficiency, support predictive maintenance, optimize operations and ease labor shortages through automation. Education and training are forecast to rise to $7.7 billion from $3.2 billion, with a rapid shift in the region toward competency-based training and assessment. Airbus said the region will need more than 1.06 million new aviation professionals by 2044, including 282,000 pilots, 302,000 technicians and 473,000 cabin crew members. Airbus also highlighted maintenance operations support and ground operations services as areas that will shape performance for airlines and MRO providers. It projected the maintenance operations support market, including engineering, technical records and inventory management, will reach $46.4 billion by 2044, while the ground operations market, reshaped by automation and digitalization, will grow to $31 billion. Airbus said mature markets will maintain a certain level of demand, but Asia-Pacific — led by South Asia and China — will drive the next phase of global aviation services growth and “reshape the aviation industry’s capacity, capabilities and investment priorities worldwide.”* This article has been translated by AI. 2026-02-05 15:54:00
  • KAMA warns strict auto rules could open South Korea market to low-cost Chinese EVs
    KAMA warns strict auto rules could open South Korea market to low-cost Chinese EVs South Korea’s auto industry, in the midst of a shift to electrification, could see its domestic market eroded by Chinese electric vehicles if regulations become excessive, industry officials warned. The Korea Automobile & Mobility Association, known as KAMA, said it held a meeting of its eco-friendly vehicle committee on Wednesday under the theme “Trends and implications of major countries’ auto environmental regulations and policy changes.” KAMA said the session compared and analyzed regulatory and policy shifts in major markets to assess their impact on the competitiveness of South Korea’s auto industry and to draw lessons for more effective vehicle greenhouse-gas reduction policies. Kang Nam Hoon, KAMA’s chairman, said major countries are “adjusting the pace of electrification” as EV demand weakens and governments move to protect domestic industry. He said the United States has reduced regulatory burdens on its auto industry, including scrapping EV mandates after the launch of the Trump administration. He added that the European Union, after running strict vehicle greenhouse-gas rules, has moved to adjust targets, expand flexibility for carrying over compliance and reflect preferential treatment for European-made EVs in its regulations to protect the auto ecosystem. Kang said Japan, whose export structure is similar to South Korea’s, is keeping environmental rules relatively low and encouraging companies to transition voluntarily, even though it is the world’s No. 2 auto exporter and No. 3 producer. By contrast, he said, South Korean companies are already facing significant difficulties under current regulations. He warned that moves to tighten rules further — to what he called the world’s highest level, linked to national emissions-reduction targets — would impose an “unbearable” burden on industry. “Excessive regulation could accelerate dependence on price-competitive Chinese EVs and their inflow into the domestic market, raising concerns that the domestic market could be eroded,” he said. To cut greenhouse gases effectively, Kang said, policymakers should “boldly” reduce reliance on new-vehicle rules that pressure companies and instead focus on measures that create demand, including expanded support for scrapping aging vehicles, more charging infrastructure and stronger incentives to buy eco-friendly vehicles. He also called for urgent, broad support to maintain and strengthen domestic production during the transition, including expanding production tax credits so EVs made in South Korea can secure real competitiveness. Kim Cheol Hwan, a managing director at InnoThink Consulting, said global climate policy, once focused on carbon cuts, is being reshaped into an “industrial security and supply chain strategy” centered on protecting domestic industry and countering China. He said U.S. and EU tariffs and policy changes do not mean abandoning electrification, but show a commitment to watch market conditions while prioritizing keeping manufacturing bases within their regions. Kim said the rapid shift to battery electric vehicles is running into practical barriers, including reduced purchasing power due to high interest rates and a lack of charging infrastructure, widening the gap between regulatory targets and what markets can absorb. He said consumers’ preference for hybrids will likely persist in the short to medium term. He said major countries are increasingly diversifying realistic emissions-cutting options rather than locking in a single technology path to minimize industrial friction, adding that punitive regulation alone has limits in driving demand. Kim urged South Korea to secure long-term stability by operating rules more flexibly, including institutionalizing conditional buffers if external variables that hurt electrification emerge, such as sudden market shifts or trade-related problems. He said the overall direction of targets should remain, but the role of hybrids should be recognized quantitatively based on their real contribution to carbon reductions, and flexibility in emissions-reduction pathways should be ensured. Experts at the meeting agreed that, amid changes in the global regulatory environment, South Korea needs regulatory policies that fully consider auto industry competitiveness. They also said EV adoption should be paired with support measures that keep the domestic production base solid while meaningfully creating demand. * This article has been translated by AI. 2026-02-05 10:03:24
  • Renault Korea’s Filante Crossover Arrives at 175 Showrooms Nationwide
    Renault Korea’s Filante Crossover Arrives at 175 Showrooms Nationwide Renault Korea said Wednesday that display vehicles of its E-segment crossover, the Renault Filante (FILANTE), have begun arriving at showrooms ahead of customer deliveries scheduled to start in March. Since its world premiere event in January, the Filante had been shown only at select locations including Renault Seongsu, COEX Mall and Starfield City Myeongji in Busan. The company said Filante display vehicles are expected to be in place at 175 Renault Korea showrooms nationwide, including SS locations, by the end of this week. Renault introduced the Filante as a new global flagship model, featuring a crossover design that blends sedan and sport utility vehicle characteristics. Its hybrid E-Tech powertrain delivers a maximum system output of 250 horsepower. All trims come standard with active noise cancellation (ANC). The Filante is now available for order at showrooms nationwide. Prices range from 43,319,000 won to 49,719,000 won depending on trim, based on a reduced individual consumption tax and eco-friendly vehicle tax benefits. The Esprit Alpine 1955, a launch edition limited to 1,955 units, is offered at 52,189,000 won.* This article has been translated by AI. 2026-02-05 09:39:00
  • Hyundai Motor expands hydrogen truck push in Europe
    Hyundai Motor expands hydrogen truck push in Europe SEOUL, February 05 (AJP) - Hyundai Motor is stepping up promotion of hydrogen-powered commercial vehicles in Europe and North America, as its hydrogen-electric truck fleet in Europe surpassed 20 million kilometers in cumulative driving, the company said Thursday. The milestone underscores Hyundai’s push to expand hydrogen mobility overseas as governments and logistics companies seek to cut transport emissions. Hyundai’s XCIENT Fuel Cell trucks first entered service in Switzerland in October 2020 and have since expanded across Europe. A total of 165 trucks are now operating in Switzerland, Germany, France, the Netherlands and Austria, serving roles ranging from refrigerated and freezer transport to street sweepers, hook-lift container trucks and cranes. In Germany, hydrogen-related firms have deployed about 110 trucks, mainly supporting logistics operations for supermarket chains, Hyundai said. In France, the vehicles are used in supermarket logistics as well as municipal and industrial services, including street cleaning and heavy-duty transport in regions such as Paris, Lyon, Pays de la Loire and Burgundy. In Switzerland, the Netherlands and Austria, the trucks are mainly used to transport food, beverages and industrial textiles. Hyundai said the trucks produce no carbon dioxide emissions while driving. Citing guidelines from the U.N. Intergovernmental Panel on Climate Change, the company estimated that diesel trucks covering the same 20 million kilometers would emit roughly 13,000 metric tons more carbon dioxide — equivalent to the annual carbon absorption of about 1.5 million pine trees. Hyundai plans to use operational data collected from the fleet — including driving distance, hydrogen consumption and fuel cell performance — to improve future hydrogen fuel cell technologies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-05 09:36:38
  • K Car Holds 2025 Employee Awards, Highlighting Collaboration and Challenge
    K Car Holds 2025 Employee Awards, Highlighting Collaboration and Challenge K Car said Wednesday it held its “2025 Employee Awards” event a day earlier at the Paradise City hotel on Yeongjong Island in Incheon. The company said it honored employees who delivered standout results across business areas including sales, customer satisfaction and safety management, helping strengthen the organization’s competitiveness. Awards were also presented to teams and larger units, underscoring K Car’s emphasis on creating greater value through collaboration. The event included year-end and fourth-quarter awards. Categories included Proud K Car Person, Top Performance, Excellence in Safety and Health, Excellent CS Branch, Top Member and Top Leader, with prize money awarded alongside the honors. Lee Dong Min, who won the top vehicle purchasing award for the second straight year, said, “My know-how is to carefully inspect and purchase vehicles as if I were choosing my own car,” adding, “I feel very proud to be making a big contribution to the company’s performance.” Im Neung Seop, who received the top sales performance award, said he believed the recognition reflected his focus on trust with customers and doing his best in the field. CEO Jeong In Guk said he thanked employees for producing results despite a difficult business environment, and said K Car will continue to build a workplace where staff can take pride in their work and fully develop their capabilities while growing as a company that earns greater trust from customers.* This article has been translated by AI. 2026-02-05 09:21:00