Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
CK Hutchison Unit Launches Arbitration Against Panama Over Port Concessions Ruling 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Denso Cuts Profit Forecast Amid U.S. Tariffs and Rising Costs 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Electric vehicles are gaining popularity in South Korea, and the cumulative number of units sold in the country has already exceeded 500,000. This shows that more and more people are buying EVs, especially now that 300,000 charging stations have been installed throughout the region.
According to The Korea Economic Daily, the number of EVs given was based on last year's registrations. It was also noted that this is the first time EV chargers in the country have reached more than 300,000 units, meaning that around 1.8 EVs are using one charger.
Electric Vehicle Registrations in Korea
The Korea Automobile Manufacturers Association (KAMA), the Integrated Zero Emission Vehicle Portal, and the Ministry of Land, Infrastructure and Transport (MOLIT) stated that EV registrations from 2017 reached 543,900 units in 2023. This figure shows a 39.5% increase compared to the previous year when just 389,855 units were registered.
In 2020, the number of EVs reached 134,962 units, the first time registrations had hit more than 100,000 units. The figure has been growing since then, and there could be a new number now as it has been months since the last record was updated.
Hyundai’s IONIQ EV
Chosun Business reported that Hyundai’s IONIQ 5 electric vehicle was listed as the model and brand with the highest registration in South Korea. It sold 70,756 units in total.
While EVs and chargers are climbing by about 100,000 per year, the growth rate has slowed over the last two years. This is because as more charging stations are built, the number of electric vehicles per charger slowly diminishes as well. Meanwhile, as of last year, the number of chargers supplied was 305,309, with 270,923 slow chargers and 34,386 rapid chargers installed.
Photo by: Michael Fousert/Unsplash
