LAS VEGAS -- Seeking control of its own destiny, Hyundai Motor is making efforts to be self-reliant in automotive chips, its US chief told reporters at CES 2022 on Thursday. “Definitely, as one of the big OEMs, we cannot be dependent on external factors to try to have control of your own destiny, right? So all OEM groups are making efforts to be self-dependent. And this is not an exception for u...

Hyundai Motor Co. said it aims for half of its US vehicle sales to be environment friendly models by 2030 while planning to produce electric vehicles in the world's most important automobile market, a company executive has said. Jose Munoz, Hyundai's global chief operating officer, made the comments in an interview with a group of Korean reporters on Wednesday on the sidelines of the Consumer El...

CBM plans to build world’s largest cell and gene therapy manufacturing facility by 2025

Lotte Engineering & Construction Co. and Hyundai Engineering Co. said Sunday they have signed $2.39 billion deals to construct a giant petrochemical complex in Indonesia. Under separate deals with Lotte Chemical Corp., Lotte E&C and Hyundai Engineering will build the complex in Cilegon, a coastal industrial city about 90 kilometers northwest of Jakarta, by 2025. Lotte E&C's stake is $1.63 billi...

Hyundai Motor Group is expected to achieve 3 million units in accumulated environment-friendly vehicle sales in the first half, driven by new models, industry sources said Sunday. The South Korean automotive group, which has Hyundai Motor Co. and Kia Corp. under its wing, sold a cumulative 2.53 million eco-friendly vehicles as of November last year, according to industry people. From January to...

South Korean conglomerate GS Holdings said Sunday that it has set up a corporate venture capital (CVC) firm to invest in promising startups. GS Ventures plans to invest in local startups that focus on the new growth industries, such as bio, climate change, resource recycling, retail and renewable energy, GS Holdings said. Heo Jun-nyeong, vice president at GS Holdings who is a merger and acquisi...

Sitting on a cockpit mockup, Chung was briefed with Samsung CEO Han Jong-hee on its future infotainment system. “It is not an exaggeration that Samsung has really completed the full package to make an EV with the Harman acquisition, but Harman’s R&D for new products is not showing the expected levels of output,” said professor Kim. “The collaboration with Hyundai could spur the IT firms’ compet...

Descendants of South Korea's chaebol founders have recently sold their stakes in spin-offs in an apparent move to avoid the antitrust watchdog’s tougher intra-group trade scrutiny based on the revised fair trade act. The Korea Fair Trade Committee’s revised fair trade act came into effect on Dec. 30, expanding the list of target companies in order to prevent chaebol family owners from fattening ...

LAS VEGAS – With just one more day to go, the Consumer Electronics Show 2022, though requiring attendees to be fully vaccinated, is a potential incubator of next variant of you-know-what thanks to people without masks spread out all over town. An unpleasant experience began right after touching down at McCarran Airport on Sunday. Paul, a Lyft driver who gave a brief tour of the Strip throughout ...

SPC Group said Friday that it has acquired the operation rights of US burger chain Shake Shack in Malaysia and will open the first store there in 2023. The Korean confectionery conglomerate owns the operating right of Shake Shack in Korea and Singapore. It has opened 20 stores in Korea and eight in Singapore since 2016 and 2019, respectively. Michael Kark, chief global licensing officer of Shak...

POSCO, the world's fifth-largest steelmaker by output, said Friday that it has started the construction of a plant in China that will produce galvanized steel sheets to be used in making cars. The plant in Tangshan in northern China's Hebei Province, whose construction is to be completed by 2023, will have a production capacity of 900,000 tons, according to POSCO. In June last year, POSCO signe...

LAS VEGAS -- After unveiling its new vision of expanding a human reach to robotics and metaverse, Hyundai Motor opened its CES booth filled with robots, not cars, to present the future of mobility. The exhibition taking place at the tech show featured three Spots, a quadruped robot, dancing in sync to a BTS song titled “Ioniq: I’m on it.” L7, a micro-mobility concept based on a platform that co...

LAS VEGAS/SEOUL -- Samsung Electronics vice chairman and CEO Han Jong-hee told reporters on Wednesday that the doors for collaboration with panel supplier LG Display is “wide open” for its launch of organic light-emitting diode television sets. At a press conference in Las Vegas, when asked about the rumored partnership with its archrival in TV industry ahead of the world’s largest tech show CES...

The Collection has been designed with three key elements: a design that blends into the space, optimized performance and a state-of-the-art user experience. By focusing on the products‘ original functions, the products‘ designs harmonize with their surroundings to compliment any home’s aesthetic mood, the company said. “Globally, we are all spending more time in our homes than ever. This has on...

Hyundai Heavy Industries Group, which has topped the global shipbuilding industry for the past 50 years, will embark a new mission to become a “future builder,” the company’s CEO said at the Consumer Electronics Show 2022 on Wednesday. “Starting from the sea, HHI Group’s technological innovation will change the lives of people in the future,” said Hyundai Heavy Industries Holdings CEO Chung Ki-s...