KG Mobility plans to launch seven new vehicle models by 2030

SEOUL, June 9 (UPI) -- South Korea's KG Group said Tuesday its automotive affiliate, KG Mobility, plans to launch seven eco-friendly models by 2030 as it seeks to increase annual sales to 200,000 units.

Based on the new lineup, the automaker aims to generate $6.6 billion in yearly revenue by then while achieving an operating margin of 5%. Last year, it sold about 110,000 vehicles for $2.8 billion in revenue and an operating margin of 1.3%.

KG Mobility said it plans to expand more aggressively in overseas markets so that exports would represent more than 70% of total sales, up from the current 64%.

KG Group Chairman Kwak Jea-sun expected that the planned acquisition of the country's largest used-car platform, K Car, would help KG Mobility and other subsidiaries secure new growth opportunities.

In April, the Seoul-based conglomerate agreed to take over a controlling stake in K Car from private equity company Hahn & Co. for $360 million. The deal is to close this month, pending approval from the nation's antitrust regulator.

"Our goal is to transform K Car into a global platform rather than limiting it to South Korea's used-car market," Kwak told a press conference in Seoul.

"This is not simply about facilitating used-car transactions," he added. "If we build a platform that integrates vehicle acquisition, refurbishment and sales, I believe that it can succeed anywhere in the world."

KG Group also unveiled a policy of returning 50% of its net earnings to shareholders over the next five years. The initiative will apply to six units, including KG Mobility and KG Chemical.

The share price of KG Mobility surged 11.5% on the Seoul bourse on Monday, outperforming the benchmark KOSPI, which gained 8.18%.

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This story was originally published June 9, 2026 at 7:56 AM.