Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Will China's self-sufficient dream in HBM come true?
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LG Energy Solution commits to climate change measures
LG Energy Solution said Wednesday it will improve reporting on climate-related risks in accordance with the Task Force on Climate Related Financial Disclosures, or TCFD, the first of its kind among battery makers here. TCFD is an international organization created by the Group of 20’s Financial Stability Board in 2015. It recommends companies to disclose information on governance, strategies, risk management and management objectives connected to climate change. “We will manage and
Feb. 15, 2023
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Hyundai Mobis to invest W10tr for future growth
Hyundai Mobis, a car parts maker under Hyundai Motor Group, unveiled its investment strategies and shareholder return policies for 2023 on Tuesday. According to Hyundai Mobis, the company is to invest a total of 10 trillion won ($7.9 billion) over the next three years, mainly investing 5 trillion to 6 trillion won of cash to secure competitiveness in the electrification of automobiles and acquisition of key components used to make cars. In addition, it will be investing 3 trillion to 4 trillion
Feb. 14, 2023
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Ford-CATL partnership could erode Korean batteries’ price competitiveness
South Korean battery makers, who have poured considerable resources in the all-important US market, might lose ground over Ford’s new partnership deal with Chinese battery giant CATL, industry sources said Tuesday. On Monday, Ford announced it plans to invest $3.5 billion to build an electric vehicle battery plant in Michigan using technology licensed from CATL, the world’s No. 1 EV battery maker. The automaker will operate the production facility through its wholly owned subsidiar
Feb. 14, 2023
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China’s BYD tops EV sales, outpaces Tesla for 1st time
The number of registered electric vehicles surpassed 10 million in 2022, as the EV industry continued its upward trend with the Chinese market’s strong growth, a report showed Monday. According to market tracker SNE Research, global EV registrations increased by 61.3 percent on year in 2022 to reach 10.83 million. The report said BYD, a Chinese EV maker, grew by 205 percent on-year to account for 17.3 percent of the global EV market and also became the biggest EV seller in the world, as th
Feb. 13, 2023
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[Herald Interview] Polestar to add SUV to Korea lineup
Polestar Korea is looking to introduce the Swedish all-electric automaker’s latest product, the Polestar 3 -- an EV sport utility vehicle -- to the South Korean market as early as possible this year. “If last year was the year of electric sedans, we expect this year to be the year of large electric SUVs,” said Ham Jong-sung, managing director of Polestar Korea, in an interview with The Korea Herald in Seoul on Thursday. Referring to other automakers’ series of new EV SUV
Feb. 13, 2023
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Renault XM3 named hybrid SUV of the year
Renault Korea Motors’ XM3 E-Tech Hybrid has been named the Hybrid SUV of the Year at the Car of the Year event hosted by the Korea Automotive Journalists Association, the carmaker said Sunday. The XM3 has so far won three awards at the event, following two wins last year for Small SUV of the Year and Design of the Year. Produced at the carmaker’s Busan plant and exported around the world, the XM3 is a global project led by researchers at Renault Technology Korea. The coupe-type SUV
Feb. 12, 2023
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Hyundai Motor Group tops US vehicle dependability rankings
Hyundai Motor Group has once again topped the J.D. Power US Vehicle Dependability Study with all of its three auto brands -- Hyundai, Kia and Genesis -- ranked in the top 10, the South Korean automaker said Friday. According to J.D. Power’s report that assessed 31 auto brands, Genesis ranked second while Kia and Hyundai placed third and eighth, respectively. The Korean automaker said its three brands had the best overall average score of the 16 global auto groups in the study for the secon
Feb. 10, 2023
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Hyundai Motor chief reaffirms will for hydrogen transition
Hyundai Motor Group Executive Chair Chung Euisun has pledged to embark on a full-scale journey to transition into a hydrogen society this year, reaffirming the automaker’s will to continue developing and expanding its hydrogen vehicle business. “To establish a sustainable supply chain, we will take the lead in preparing for the application of green steel and eco-friendly parts, and gradually convert utilities and raw materials used at our business sites around the world to renewable
Feb. 9, 2023
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SM6 combines Renault’s sporty heritage, modern technology
South Korean car manufacturer Renault Korea Motors’ midsize sedan SM6 is a steady seller in the vast domestic automobile market alongside other sizable competitors. This is thanks to the model’s commercial value, which is built on a balance between the carmaker's heritage and advanced technology. The carmaker highlighted the popular sedan’s state-of-the-art features such as a downsized engine, smooth handling and steering system as well as safety functions. In the past, lo
Feb. 9, 2023
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German carmakers fined over emissions collusion
South Korea’s antitrust watchdog imposed a combined 42.3 billion won ($33.5 million) in fines Thursday on three German carmakers -- Mercedes-Benz, BMW and Audi -- for collusion in the emissions of their diesel-powered vehicles. The carmakers were found to have installed software designed to reduce nitrogen oxide only minimally to just satisfy Korean environmental regulations. The toxic gas causes ozone and acid rain, and is linked to asthma, respiratory disorders and lung disease. The Fa
Feb. 9, 2023
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SK On withdraws from Turkey battery project with Ford
South Korean electric vehicle battery maker SK On confirmed Wednesday its withdrawal from a battery project in Turkey, where it had planned to build a new EV battery plant as part of a joint venture with US auto giant Ford. “We can confirm that the nonbinding memorandum of understanding between Ford, SK On and KOC Holding has been terminated by mutual agreement,” the three parties said in a statement. “We still have a strategic partnership on plants in Hungary and Georgia and o
Feb. 9, 2023
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[Herald Interview] SK-backed Loop Industries seeks expansion in Asia’s recycling market
Highlighting the potential of the burgeoning recycling market in Asia, Daniel Solomita, the founder and CEO of Canada-based clean technology company Loop Industries, has vowed to build its first full-scale recycling production facility using plastic and textile wastes in South Korea’s southeastern city of Ulsan. The plant is set to break ground later this year within the 1.7 trillion won ($1.3 billion) plastic recycling complex of SK Geo Centric, a chemical materials unit under the South
Feb. 9, 2023
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VW to recall 74,000 cars over faulty warning triangles
Volkswagen Korea will recall more than 74,000 cars over faulty warning triangles, the Ministry of Land, Infrastructure and Transport said Wednesday. Starting from Friday, the Korean unit of the German carmaker plans to issue a recall on a total of 74,809 vehicles across 27 car models that were sold here. The list includes 15,691 units of Tiguan 2.0 TDI, 9,466 units of Arteon 2.0 TDI and 9,050 units of Jetta 1.4 TSI. The Lamborghini brand, which was originally off the list, was added to the rec
Feb. 8, 2023
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GMC debuts Sierra Denali in Korea
General Motors on Tuesday announced the launch of the Sierra Denali, GMC’s flagship pickup truck, in South Korea, officially introducing the GMC brand in the country for the first time. “Today we are to introduce the GMC brand in Korea with the launch of an astoundingly advanced and exceedingly premium truck, the GMC Sierra,” said Roberto Rempel, CEO of GM Korea, in a media showcase held on the floating island of Sebitseom in Seoul. Only the Sierra Denali -- the highest trim of
Feb. 7, 2023
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[Test Drive] Audi 4Q e-tron, a smooth switch to EV
Many EVs currently available in the market feature futuristic and seamless designs, which have replaced the physical buttons in the center console with touch displays. This poses trouble for first-time drivers, who likely need some time to get used to the car's controls. The Audi Q4 e-tron might be the best option for those hoping to jump right into an EV and be comfortable behind the wheel. At first glance, during a media test drive of the Audi q4 e-tron on Jan. 31, the compact SUV's
Feb. 7, 2023
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[Test Drive] True beauty found inside for Audi A8 L
The Audi A8 L series adds more prestige to the German automaker’s already high-end sedan, the Audi A8. The L represents its long wheelbase. As the wheelbase of a vehicle is the distance between the center of the front wheels and the center of the rear wheels, the Audi A8 L lineups offer more space in the backseat. That is where the Audi A8 L model’s true value can be found. The Audi A8 L 55 TFSI quattro Premium, a revamped model that features an upgraded design, showed where the auto
Feb. 7, 2023
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[Herald Interview] DHL to triple logistics capacity at Incheon Airport: CEO
With the exponential growth of South Korea’s e-commerce market during the pandemic, Frank Appel, CEO of global logistics giant Deutsche Post DHL Group, has vowed to triple the company’s logistics capacity at Incheon Airport, the nation’s main gateway, this year. “DHL base in Incheon is our key Asia-Pacific network that connects Singapore, Taiwan, Hong Kong, China and other major countries of imports and exports. This investment highlights the strategic position of South
Feb. 6, 2023
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[Photo News] UAM alliance for Busan Expo bid
From left: Hanwha Systems CEO Eo Sung-cheol, Korea Airports Corp. CEO Yoon Hyung-joong, Yoon Sang-jik, secretary-general of the Bid Secretariat for World Expo 2030 Busan, SK Telecom CEO Ryu Young-sang and T Map Mobility CEO Lee Jong-ho pose after signing a memorandum of understanding on urban air mobility business to boost Busan’s World Expo bid. If Busan is selected, visitors will be able to hop on the future mobility vehicles to attend Expo events.
Feb. 6, 2023
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Hyundai gains momentum with high-performance cars
With the automotive industry underscoring technology as a key driver of growth, high-performance brands under leading car manufacturers are becoming the testbed to enhance their car models’ driving features, ranging from speed to durability. Hyundai Motor Group, South Korea's No. 1 carmaker, is also gaining momentum with its performance line, N Brand, by testing its popular models in tour car racing, a motorsport that uses modified versions of mass-produced cars. “The biggest op
Feb. 5, 2023
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[Photo News] Renewed sales push in Japan
Hyundai Motor Group said Thursday it will start operating at a shopping mall in Kyoto this week, making for its first in Japan outside Tokyo. The Hyundai Mobility Kyoto Shijo store allows visitors to experience the carmaker’s eco-friendly vehicles, including the hot-selling Ioniq 5 and the hydrogen-powered Nexo. The South Korean carmaker has been making a renewed push for a foray into the Japanese market, which has long remained untapped despite an aggressive overseas expansion in recent y
Feb. 2, 2023