Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Aging population to drive down Korea's housing prices from 2040: experts
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North Korea holds drills simulating nuclear counterattack against enemy
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Samsung SDI buys stake in Canadian nickel miner for battery expansion
Samsung SDI, a leading South Korean lithium-ion battery manufacturer, has acquired a stake in Toronto-based Canada Nickel in a $18.5 million deal to ensure a stable supply of critical battery materials for its expanding North American operations. Announced on the Toronto Stock Exchange on Monday, Samsung SDI will acquire an 8.7 percent stake in the major Canadian nickel mining company. This stake translates into 15.6 million shares. Under the agreement, Samsung SDI not only secures an initial pu
Jan. 16, 2024
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Hyundai Motor eyes W1tr funding for Indian plant
Hyundai Motor Group plans to invest an additional 70 billion rupees ($845 million) into an automotive plant owned by General Motors in Talegaon, India, according to Indian authorities on Tuesday. According to an online post on X, formerly Twitter, uploaded by Devendra Fadnavis, deputy chief minister of the western state of Maharashtra, the Korean auto giant plans to sign a memorandum of understanding for the new funding during this week’s World Economic Forum in Davos, Switzerland. Fadnavi
Jan. 16, 2024
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[KH explains] EV tires: Profit surges, sustainability lags
South Korea's tire industry is booming, with leaders Hankook, Kumho, and Nexen posting impressive financials, thanks largely to the surging demand for electric vehicle tires. However, they face a sustainability dilemma, as the environmental impact of these tires clashes with the green ethos of EVs. Regulatory shifts could also affect future profits. The recent spotlight on Hankook & Company, which owns Hanbook Tire, following a failed takeover bid by MBK Partners, highlighted the sector
Jan. 16, 2024
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[From the Scene] Desert testing drives Hyundai, Kia's US success
CALIFORNIA CITY, California -- If you want to know how Kia's Telluride SUV managed to rank among the top midsize sporty utility vehicles in the US market last year, or how Hyundai and Kia clinched second place in the US EV market behind Tesla following a record sales year, it’s worth taking a closer look at their California Proving Ground, the Korean carmakers’ extensive vehicle testing facility in the Mojave Desert. “Our focus has evolved from primarily testing internal c
Jan. 15, 2024
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[Photo News] Hyundai future adventure on Roblox
Hyundai Motor Group steps into the virtual space with its latest launch, Hyundai Future Adventure, on Roblox. Unveiled Monday, the game aims to captivate younger audiences by presenting Hyundai's mobility technologies in Roblox, the popular virtual gaming platform frequented by Generation Alpha and Generation Z. In the image is a Hyundai Roblox avatar in the center flanked by Boston Dynamics' robots Spot and Atlas on the right, with DAL-e, the service robot, on the left, as Hyundai
Jan. 15, 2024
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SK Ecoplant bolsters ties with Nevada on batteries, e-waste recycling
SK Ecoplant, the construction arm of South Korea’s second-largest conglomerate SK Group, said Monday it will boost business ties with the US state of Nevada on electric vehicles and electronic waste recycling. SK Ecoplant CEO Park Kyung-il met with Governor of Nevada Joe Lombardo on Sunday at the company’s recycling subsidiary TES in Las Vegas. The two leaders looked around the e-waste recycling plant and discussed TES’ e-waste business, battery recycling technology and global
Jan. 15, 2024
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Samsung SDI outpaces Korean rivals in US tax credits
Samsung SDI has outpaced its Korean rivals by supplying batteries to the largest number of electric vehicles under the heightened US EV tax credit regulations that went into effect Jan. 1, according to industry sources on Sunday. Of the 19 EVs eligible for the new incentive rules this year under the Inflation Reduction Act, 15 car models will use Korea-made batteries, while China’s CATL and AESC Group, which made the cut last year, have been removed from the list. Samsung SDI topped the li
Jan. 14, 2024
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[Photo News] Renault brand chief in Korea
Renault Brand CEO Fabrice Cambolive looks around the production lines of the French carmaker’s Busan plant last week. Cambolive was visiting Korea to inspect local operations, especially the development work of the “Aurora 1” project, the carmaker’s new hybrid sport utility vehicle. “Renault is preparing for a new phase in the Korean market this year. … (The Aurora 1) will certainly be a vehicle that meets the high expectations of Korean and international con
Jan. 14, 2024
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LG Electronics opens 1st overseas EV charger plant in US
LG Electronics Inc. said Saturday that it has opened its first plant in the US for electric vehicle charging stations, as part of its strategy to advance into the fast-growing EV charging solutions business. The factory based in Fort Worth, Texas, has an annual capacity of over 10,000 units, according to LG Electronics. LG said earlier its 11 kilowatt wall-mounted and stand-type slow chargers, and 175 kW fast-charging models will be available in the US market in the first half of 2024. The compa
Jan. 13, 2024
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Hyundai, Kia near 1m eco-friendly car sales in US
Hyundai Motor Group, following a record-breaking year with US sales surpassing 1.6 million Hyundai and Kia vehicles, is setting their sights high in the US this year to reach a cumulative sale of 1 million eco-friendly vehicles since 2011 and 300,000 luxury Genesis cars, leveraging their strong sales momentum and expanding their eco-friendly and high-end vehicle lineups. Last year, Hyundai and Kia sold a combined 1.6 million vehicles in the US, an increase of 12 percent from 2021 and the highest
Jan. 12, 2024
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[CES 2024] SK On chief hints IPO plan on track
LAS VEGAS/SEOUL -- Chey Jae-won, executive vice chairman of SK Group and SK On CEO, on Wednesday vowed to accelerate plans for the battery maker's market debut at the CES 2024 tech show being held in Las Vegas this week. “It’s hard to predict (the exact timeline for the initial public offering) because we have to consider market conditions and prepare (for the IPO process),” said Chey to the press. “But we’ll push forward (the schedule) as soon as possible when
Jan. 11, 2024
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[CES 2024] Kia to produce EVs for Uber
Kia will collaborate with Uber to develop purpose-built vehicles tailored to fit the needs of the car-sharing service provider to expand the automaker’s PBV business, the South Korean carmaker said as the two sides announced their partnership at the CES 2024 in Las Vegas on Wednesday. According to the announcement, the Uber-customized PBV will be developed on the basis of PV5, Kia’s first PBV slated for mass production in 2025. The PV5, which will be the first model to be assembled o
Jan. 11, 2024
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[CES 2024] 42dot, Samsung to launch Exynos-based auto platform
42dot, the software mobility unit under Hyundai Motor Group, clinched a deal with Samsung Electronics to develop an artificial intelligence-based software-defined vehicle platform on the sidelines of the CES 2024 tech show in Las Vegas on Tuesday. Song Chang-hyeon, who doubles as 42dot CEO and president of the software-defined vehicle unit at Hyundai Motor Group, and Park Yong-in, president of the system large-scale integration division at Samsung Electronics, participated in a signing ceremony
Jan. 10, 2024
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[CES 2024] Hyundai Mobis’ e-Corner system makes debut
Hyundai Mobis, a car parts manufacturing unit under Hyundai Motor Group, unveiled Mobion, an electric vehicle running on its self-driving e-Corner System technology for the first time at CES 2024 in Las Vegas on Wednesday. The technology incorporates the world’s first in-wheel motors consisting of four small motors that incorporate rotational steering and electronic braking in one module installed in the car wheels. “The e-Corner system reduces physical connections of mechanical devi
Jan. 10, 2024
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[CES 2024] Hyundai-backed Supernal to debut flying taxies in Korea, US by 2028
LAS VEGAS -- Supernal, Hyundai Motor Group’s air taxi subsidiary, unveiled the next generation of its aircraft, the S-A2, at CES 2024 in Las Vegas on Tuesday, marking a substantial step in its drive to introduce flying taxis. "We have pushed the technical boundaries toward a future where cities are free from congestion and limited mobility. Our goal is to bring air taxi service to both the US and Korean markets by 2028," said Shin Jai-won, executive vice president and head of Sup
Jan. 10, 2024
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[Photo News] Hyundai family
HD Hyundai Vice Chairman Chung Ki-sun (left) and Hyundai Motor Group Executive Chair Chung Euisun look around HD Hyundai's exhibition area at the CES 2024 in Las Vegas on Tuesday. As the grandsons of Chung Ju-yung, the late founder of Hyundai Group, the two business moguls are cousins. HD Hyundai is showcasing the future of construction on the back of automation technology at this year's global tech convention. (HD Hyundai)
Jan. 10, 2024
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[CES 2024] Kia debuts purpose-built concept EVs with modular design
LAS VEGAS -- Kia on Monday unveiled a versatile lineup of concept purpose-built electric vehicles at the CES 2024, featuring an all-new modular design architecture, and targeting commercial applications with a focus on sustainability and a blend of hardware and software solutions. The lineup is set for commercialization in 2028. “We are targeting the under-electrified light commercial vehicle market, identifying an opportunity to innovate in a sector burdened by inefficient post-production
Jan. 9, 2024
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[CES 2024] Hyundai vows innovation in software, hydrogen for 'future generations'
LAS VEGAS -- Hyundai Motor Group on Monday unveiled a centralized strategy for its software-defined vehicles and an expanded hydrogen ecosystem during the CES 2024. "Our hydrogen venture is for future generations. ... (Software-defined vehicles) can offer enhanced safety,” said Hyundai Motor Group Executive Chair Chung Euisun, who attended the media conference held at the Mandalay Bay Convention Center in Las Vegas on Monday Hyundai reinforced its commitment to hydrogen energy by e
Jan. 9, 2024
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SK On to supply batteries to Chinese-made electric bus
SK On is poised to supply high-performance nickel, cobalt and manganese (NCM) batteries for Chinese-made electric buses imported to South Korea, industry sources said Monday. The battery manufacturer recently clinched a deal with EM Korea, an electric bus sales company, which will install the batteries in China Hi-Tech Group Corporation’s EFICITY bus models, according to media reports. An SK On official confirmed the deal and said the NCM batteries have energy density levels beyond the ele
Jan. 8, 2024
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US senators pressure Hyundai, 12 carmakers not to interfere in union activism
A group of 33 US senators on Thursday called on Hyundai Motor Group and 12 other auto manufacturing companies not to interfere with the United Auto Workers’ ongoing efforts to unionize at their US plants. Democrats Gary Peters, Ron Wyden, Dick Durbin and others signed a letter and sent it to top executives at Hyundai Motor Group, Tesla, Toyota, Volkswagen, Mercedes-Benz, BMW, Rivian and others, urging them to remain neutral in union organizing activities. “We are concerned by reporti
Jan. 5, 2024