Meta Cuts Wipro Outsourcing by 25% After AI-Led Restructuring 
Samsung, SK Hynix Test AMEC Chipmaking Tools for China Backup Plan 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Alphabet Stock Slides as Google AI Pioneer Jeff Dean Exits to Launch Discovery Loop 
DeepSeek to Raise AI API Prices as Demand for New Models Surges 
Nvidia to Invest Up to $3 Billion in Blackstone-Backed Lancium 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
OpenAI Restricts Astra AI Over Cyberattack Risks 
Cloudflare Stock Jumps 15% as Earnings Beat Estimates, 2026 Outlook Raised 
Qantas Shares Climb as Long-Haul Pilot Deal Eases Strike Concerns 
Western Digital Q4 Earnings Beat Estimates as FY2027 Outlook Tops Expectations 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
UOB Q2 Net Profit Rises 10% as Wealth Management Growth Boosts Earnings 
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
As BYD prepares to enter South Korea’s EV market in 2025, Kia and Hyundai show no signs of concern. Experts highlight that tariffs, subsidy issues, and local consumer preferences make it challenging for BYD to compete with South Korea’s leading EV makers.
BYD Sets 2025 Launch for Passenger Cars in South Korea
Just last month, BYD, a Chinese carmaker, declared that starting in 2025, it will sell passenger cars in South Korea, Teslarati shares. While BYD did join the South Korean commercial vehicle market in 2016, they have not introduced a passenger vehicle there as of yet.
When compared to other markets that BYD has joined, the South Korean car market will be unique. South Korean auto industry executives appear to agree that BYD's affordable electric vehicles won't entice local shoppers to buy the Chinese brand's cars.
Kia and Hyundai Remain Confident Amid BYD’s Entry
“I understand that Hyundai and Kia’s internal response to BYD’s entry to the domestic market is lukewarm. Not only have they not discussed specific countermeasures, but the internal atmosphere is that BYD will not be able to exert much influence in the domestic market,” an insider told Insight Korea.
Due to South Korea's 8% tariffs on all Chinese cars, most insiders believe that BYD will not be able to undercut its costs there. So, there won't be much of a pricing difference between Chinese and South Korean automobiles.
Tariffs and Subsidy Limitations Challenge BYD’s Strategy
Even less South Korean subsidies are available for BYD's lithium iron phosphate (LFP) batteries.
Furthermore, electric vehicles from Kia and Hyundai have been competitive with EV market leader Tesla on a worldwide scale. Hyundai and Kia do not sell electric vehicles (EVs) with cheap prices as BYD does. South Korean automakers, on the other hand, rely on features and designs of electric vehicles to entice buyers.
