Latest news with #KoreaAutomobile&MobilityAssociation
The Sun
7 days ago
- Automotive
- The Sun
South Korea seeks US port fee relief for car carriers amid trade concerns
SEOUL: South Korea and its automobile industry have formally requested exemption from new US port fees targeting foreign-built vehicle carriers. The fees, announced by the US Trade Representative on April 17, aim to penalise China-linked ships and fund domestic shipbuilding. However, they also affect non-Chinese carriers, raising concerns among global automakers. The Korea Automobile & Mobility Association, representing Hyundai, Kia, GM, and Renault's South Korean units, warned that the fees would add financial strain to imported vehicles already facing 25% tariffs. In a statement, the association said, 'Such a measure risks imposing undue costs on companies, workers and consumers in both countries.' South Korea's trade and maritime ministries echoed these concerns, arguing that the policy could disrupt trade relations. The auto association also pointed to Hyundai Motor Group's $21 billion US investment plan, announced earlier this year, suggesting the fees might discourage future contributions from Korean firms. The US has framed the fees as part of efforts to counter China's maritime dominance and revive domestic shipbuilding. However, industry groups argue the broad application could harm global trade dynamics. - Reuters
Korea Herald
19-03-2025
- Automotive
- Korea Herald
Seoul Mobility Show 2025 to feature transportation beyond wheels
Record-setting 451 companies to participate in Korea's biggest mobility exhibition The 2025 Seoul Mobility Show will push the boundaries of conventional motor exhibitions by showcasing transportation beyond cars, its organizers said Wednesday. 'The 2025 Seoul Mobility Show will present the most diverse range of products and services in the 30-year history of the exhibition,' said Kang Nam-hoon, CEO of the Korea Automobile & Mobility Association who also serves as the chief of the Seoul Mobility Show organizing committee, during a press conference in Seoul. 'We are looking to present a vision of future mobility through innovation that transcends the boundaries of technology and goes beyond the limitations of land, sea and air.' The biennial mobility exhibition will bring a record-breaking 451 companies from 12 countries to Kintex, a large convention center in Goyang, Gyeonggi Province, from April 3 to 13. The previous event held in 2023 drew about 510,000 visitors. Led by homegrown automakers Hyundai Motor, Kia and Genesis, a total of 12 auto brands are participating in this year's exhibition to showcase their lineups and unveil new cars. In particular, Chinese electric vehicle giant BYD and British luxury sports car maker Lotus will take part in the Seoul Mobility Show for the first time. Vinssen, an eco-friendly shipbuilder, will display its electric-propelled leisure boat EV002 at the event, while Sambo Motors Group will present an urban air mobility aircraft -- a two-seat electric model designed for vertical takeoff and landing. HD Hyundai, a shipbuilding and heavy industries conglomerate, plans to debut its new excavator in a world premiere at this year's Seoul Mobility Show. Lotte Innovate, an information technology affiliate of retail conglomerate Lotte Group, will offer test rides of its autonomous vehicle without a driver's seat. LG Group, meanwhile, will introduce its mobility-related businesses such as battery, charging infrastructure and delivery robots.
![[Graphic News] S. Korea ranks 7th in car production](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F03%2F16%2Fnews-p.v1.20250316.6fabdab6252e48779bd8e4e2a7a9772c_T1.gif&w=3840&q=100)
Korea Herald
16-03-2025
- Automotive
- Korea Herald
[Graphic News] S. Korea ranks 7th in car production
South Korea ranked seventh in the world in terms of domestic vehicle output last year, an industry association said, down one notch from a year earlier due to a drop in output amid an economic slowdown. The country's domestic car production fell to 4.13 million vehicles in 2024 from 4.24 million a year prior as local consumption slowed, according to a report released by the Korea Automobile & Mobility Association. High inflation and high interest rates weighed on consumer sentiment in 2024, driving down vehicle sales in the domestic market, the KAMA report said. China, the United States, Japan and India were the top four car manufacturing countries last year, with 31.28 million, 10.56 million, 8.23 million and 6.01 million vehicles made, respectively, the report said. The world's overall vehicle production fell 0.5 percent to 93.95 million units last year, marking the first on-year decline since 2020, when the corresponding figure plunged 15.4 percent due to the COVID-19 pandemic. (Yonhap) don@ [{"ART_ID":10442649,"MAIN_THUMB":"\/news\/cms\/2025\/03\/16\/news-p.v1.20250316.6fabdab6252e48779bd8e4e2a7a9772c_T1.gif","CODE_TYPE":"S","CODE_ID":"S410405","SERVICE_FLAG":"Y","CODE_NM_CATE":"World Business","CODE_ENG_NM":"","LINK_URL":"","SERVICE_YMD":"2025-03-17","VIEW_YN":"N","SUB_TITLE":"","SUMMARY":"South Korea ranked seventh in the world in terms of domestic vehicle output last year, an industry association said, down one notch from a year earlier due to a drop in output amid an economic slowdown. The country\u2019s domestic car production fell to 4.13 million vehicles in 2024 from 4.24 million a year prior as local consumption slowed, according to a report released by the Korea Automobile & Mobility Association. High inflation and high interest rates weighed on consumer sentiment in 2024, driv","SERVICE_MM":"03","SERVICE_DD":"17","WRITERS":"Nam Kyung-don","CONTENT_ATTR":"1","TITLE":"[Graphic News] S. Korea ranks 7th in car production","CODE_GRADE":"M","REG_ID":"2000014","SERVICE_MD":"03-17","SERVICE_DAYTIME":"2025-03-17 08:00:00","CODE_NM":"Graphic News"},{"ART_ID":10440170,"MAIN_THUMB":"\/news\/cms\/2025\/03\/12\/news-p.v1.20250312.723d1141ebba4fbab48efdfe70d1bb69_T1.gif","CODE_TYPE":"S","CODE_ID":"S410405","SERVICE_FLAG":"Y","CODE_NM_CATE":"WorldNews","CODE_ENG_NM":"","LINK_URL":"","SERVICE_YMD":"2025-03-13","VIEW_YN":"N","SUB_TITLE":"","SUMMARY":"Seoul has been named the world\u2019s best solo travel destination by Tripadvisor. Tripadvisor, the world\u2019s largest travel platform, highlighted Seoul as a city where traditional palaces and modern skyscrapers blend seamlessly, and traditional markets and shopping centers coexist. It also praised the city for having one of the world\u2019s best subway systems, emphasizing its efficient routes that make it easy for tourists to explore. Following Seoul in the top five are Kathmandu, Nepal; Cusco, Peru; Bang","SERVICE_MM":"03","SERVICE_DD":"13","WRITERS":"Nam Kyung-don","CONTENT_ATTR":"1","TITLE":"[Graphic News] Seoul named world\u2019s best solo travel destination","CODE_GRADE":"M","REG_ID":"2000014","SERVICE_MD":"03-13","SERVICE_DAYTIME":"2025-03-13 08:00:00","CODE_NM":"Graphic News"}]
Korea Herald
10-03-2025
- Automotive
- Korea Herald
S. Korea ranks 7th in domestic vehicle output in 2024
South Korea ranked seventh in the world in terms of domestic vehicle output last year, an industry association said Monday, down one notch from a year earlier due to a drop in output amid an economic slowdown. The country's domestic car production fell to 4.13 million units in 2024 from 4.24 million a year ago as local consumption slowed, according to a report released by the Korea Automobile & Mobility Association. High inflation and high interest rates weighed on consumer sentiment in 2024, driving down vehicle sales in the domestic market, the KAMA report said. "A combination of sluggish domestic demand and possible US tariffs on vehicle shipments to the United States will likely continue to weigh on local production," a KAMA official said by phone. He called on the government to provide carmakers with more tax benefits for local production of next-generation vehicles and facility investments to minimize the impact of declining production on related industries. China, the United States, Japan and India were the top four car manufacturing countries last year, with 31.28 million units, 10.56 million, 8.23 million and 6.01 million, respectively, the report said. The world's overall vehicle production fell 0.5 percent to 93.95 million units last year, marking the first on-year decline since 2020, when the corresponding figure plunged 15.4 percent due to the COVID-19 pandemic. (Yonhap)
