![[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)
[Graphic News] S. Korea ranks 7th in car production
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@heraldcorp.com
[{"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"}]
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
2 days ago
- Korea Herald
Cha Vaccine Institute names Pfizer veteran as new CEO
Cha Vaccine Institute said Monday it has appointed its R&D chief Han Seung-il as its new CEO. Han, an industry veteran who worked at Pfizer for more than 20 years, joined Cha Vaccine Institute in June as vice president leading the R&D team. He studied biology at Korea University and earned his Ph.D. from Purdue University in the US. He continued his academic career as a postdoctoral research associate at The Scripps Research Institute and later as a research assistant professor at Lawrence Berkeley National Laboratory, specializing in structural biology. In 2002, Han began his industry career at Pfizer, where he served as a research fellow at the company's US R&D center. He played a key role in bringing several new drugs to market with US Food and Drug Administration approvals, including the COVID-19 vaccine Comirnaty, the respiratory syncytial virus vaccine Abrysvo and the immunology treatment Cibinqo. In an industry first, Han introduced cryo-electron microscopy technology at Pfizer. The application of the technology to structure-based drug design led to the discovery of more than 10 new drug targets annually. 'I will quickly establish and execute a clear roadmap for technology transfer, clinical trials, and commercialization of the company's pipeline,' Han said. 'I will help the company leap forward as a competitive R&D player on the global stage.'
Korea Herald
3 days ago
- Korea Herald
S. Korea's debt interest payments likely to top 30tr won in 2025: data
The South Korean government is expected to pay more than 30 trillion won ($21.6 billion) in interest on Treasury bonds and other national debts by the end of this year amid expansionary efforts to boost the economy, government data showed Sunday. The government's interest expenses of Treasury bonds, foreign exchange stabilization fund bonds and the national housing bonds reached 28.2 trillion won last year, up from 24.6 trillion won in 2023, according to data from the National Assembly Budget Office and the public website Open Fiscal Data. The total has been rising by an average of 13 percent annually over the past four years, from 18.6 trillion won in 2020 to 19.2 trillion won in 2021 and 21 trillion won in 2022. If this growth trend continues, interest expenses are projected to exceed 30 trillion won in 2025. For this year, the government earmarked about 30 trillion won for Treasury bond repayment and 660 billion won for foreign exchange stabilization fund bonds. Consequently, the ratio of national debt interest payments to total government expenditures climbed to 4.4 percent last year, up from 4 percent in 2023 and 3.1 percent in 2022. A looming concern is the maturity of large amounts of government bonds issued during the COVID-19 pandemic. As of end-2024, bonds worth 94 trillion won are set to mature this year and 98 trillion won next year. The figure will gradually decline to around 74 trillion won in 2027 and the 50 trillion-won range in 2028. The government's two extra supplementary budgets this year are also expected to add to the burden. In effect, about 100 trillion won worth of refinancing issuance is expected to flood the bond market this year and next. This could weigh on bond prices, drive up interest rates and further increase the government's debt-servicing costs. (Yonhap)
Korea Herald
13-08-2025
- Korea Herald
Youngone Group promotes family-friendly culture with kids' day
Youngone Group, one of Korea's major apparel and fabric manufacturers, on Wednesday held its annual event inviting employees' children to the office, as part of the company's ongoing commitment to a family-friendly corporate culture. Held at its Seoul headquarters, the 'Bring Your Kids to Work' program brought in 29 children, aged 5 to 12. They spent the day shadowing their parents and joining video calls with overseas factory staff for a glimpse into the group's operations abroad. To make the experience memorable, the company handed out honorary employee badges and gifts, and organized activities such as drawing their parents' desks, writing thank-you cards and touring the building. 'My child, who had always been curious about my day, found the firsthand experience exciting and even magical,' said a senior manager in the export sales division during the event. The company said the program has strengthened parent-child bonds and boosted employees' sense of belonging to the company. Launched in 2015 on the initiative of Youngone Group Vice Chair Sung Rae-eun, the event has run every year except during the COVID-19 pandemic. Sung noted that the event fosters empathy among colleagues, who begin to see one another as someone's mother or father. 'We will continue to support work-life harmony through a family-friendly culture,' she said. Beyond the annual event, Youngone's family-friendly measures include a monthly child care allowance of 200,000 won ($145) for employees with children under six, flexible start times for parents of younger schoolchildren, a 1 million won transportation stipend for pregnant staff, and cash and gifts for children's school admissions.
