9 out of 10 Recalled Vehicles Addressed... Highest Correction Rate Ever Recorded
The Korea Transportation Safety Authority announced on the 28th that the vehicle recall compliance rate last year was 87.1%, the highest level ever recorded.
The recall compliance rate is the ratio of the number of vehicles addressed to the number of vehicles subject to recall. Performance is managed at an average of 18 months after the recall implementation date. Previously, it was at around 75.3% in 2020, increasing by more than 10 percentage points in four years.
The recall compliance rate in the United States, which operates a vehicle self-certification system similar to that of Korea, is about 65%. Together with the Korea Insurance Development Institute, they secured information on actual vehicle owners, raised recall awareness, and provided manufacturers with vehicle deregistration information and recall target location information, reducing the preparation period by 7 weeks.
To alleviate the inconvenience of delivery and cargo vehicle owners who find it difficult to take time off due to busy work schedules, recall measures were implemented during cargo loading times. In discussions with Hyundai Motor Company, the Hyundai Jeju Service Center was operated exclusively for recalls on Saturdays. Recall guidance and action services were provided to vehicles visiting the Authority’s inspection stations to monitor compliance.
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- [Revolutionary Guards Inc.]③Unyielding in External Wars for Profit... "Unlikely to Relinquish Hormuz"
- Experts Are Already Watching Closely..."Target Stock Price 970,000 Won" Now Only the Uptrend Remains [Weekend Money]
- "That? It's Already Stashed" Nightlife Scene Crosses the Line [ChwiYak Nation] ③
Jung Yong-sik, Chairman of the Korea Transportation Safety Authority, said, "We will establish additional encouragement measures for vehicles with low recall compliance rates to enhance public trust."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.