Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Korea enters full election mode
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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[Photo News] Korean BMW navigation
BMW Group Korea said Wednesday that it will begin loading the Korean BMW navigation system based on the country's leading mobility platform Tmap, starting with the BMW X1 and BMW 2 Series Active Tourer models this month. The automaker said the newly developed navigation system offers advanced convenience, as it receives the latest traffic and map information in real time through online streaming. The Korea-dedicated navigation will be equipped on the BMW New X2 and new Mini models, which ar
Feb. 14, 2024
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Renault Korea hires new lead for smart vehicle tech
Renault Korea Motors, the South Korean unit of French automotive giant Renault Group, said Tuesday it has appointed Regis Brignon, a software and electrical systems specialist, to lead the development of its software-defined vehicles, or next-generation smart vehicles, for the Korean market. Starting in February as the director of systems engineering operations at Renault Technology Korea, he will lead teams in developing next-generation technologies for future Renault models made in Korea, inc
Feb. 13, 2024
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Hyundai Motor nears 100m sales milestone
Hyundai Motor Group is highly likely to surpass the 100-million-vehicle sales mark this year, 56 years after it started selling cars in Korea in 1968. According to the carmaker on Monday, it has sold close to 97 million vehicles around the world as of last year. Of these, about 24 million were sold in Korea's domestic market, accounting for approximately 25 percent of total sales, while the remaining 73 million, or 75 percent, were sold internationally. To achieve the 100 million milestone,
Feb. 12, 2024
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EVs take up 9.3 percent of newly purchased cars in 2023
Electric cars accounted for 9.3 percent of newly purchased cars in South Korea last year, data showed Monday, hovering above that of other major counterparts, including the United States and Japan. The electric vehicles (EVs) took up 162,507 of 1.74 million cars sold in South Korea in 2023, according to the data compiled by the Ministry of Land, Infrastructure and Transport. The ratio marked a significant rise from just 1.9 percent tallied in 2019. The figure, however, fell slightly from 9.7 per
Feb. 12, 2024
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Rolls-Royce unveils 2024 Year of the Dragon exclusive editions
Rolls-Royce Motor Cars is commemorating the year 2024 ahead of the Lunar New Year with limited Year of the Dragon Bespoke Commissions, featuring four distinctively designed vehicles, exactly 12 years after its first dragon-themed Phantom in 2012, which sold out in China within two months of release. Introduced last Friday, the 2024 exclusive collection includes three extended versions of the Phantom and one Cullinan sport utility vehicle, each adorned with design elements inspired by the dragon,
Feb. 10, 2024
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US closes engine fire probe into Hyundai, Kia vehicles
The US auto safety authorities have closed a probe into engine fire risks on Hyundai Motor and Kia vehicles as the South Korean automakers’ recalls have lowered fire rates, according to Reuters Thursday. The National Highway Traffic Safety Administration said the majority of the recalled Hyundai and Kia cars reported lower fire accidents after they underwent the necessary fixes whereas those that had not been repaired showed relatively high fire rates. The US safety authorities first began
Feb. 8, 2024
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GM chair meets battery partners in 1st Seoul visit
General Motors CEO Mary Barra visited South Korea to meet the automaker’s Korean battery manufacturers -- LG Energy Solution and Samsung SDI -- to strengthen their partnerships further and discuss the global electric vehicle transition amid slowing EV growth. According to industry sources, the GM chair on Wednesday met with LG Energy Solution CEO Kim Dong-myung and Samsung SDI CEO Choi Yoon-ho in Seoul. Barra was spotted at Gimpo International Airport on Tuesday evening. The visit marked
Feb. 7, 2024
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Moody's ups ratings of Hyundai Motor, Kia, Hyundai Mobis to 'A3'
Moody's Investors Service has upgraded the credit ratings of Hyundai Motor, Kia and Hyundai Mobis to "A3" from "Baa1" on their improved competitiveness, their parent company said Tuesday. It marks the first time the three companies have received A ratings from the global credit appraiser, according to Hyundai Motor Group. Moody's also changed their outlooks from "stable" to "positive," heralding a possible ratings upgrade down the road. "A
Feb. 6, 2024
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Hyundai Motor India to go public this year: reports
Hyundai Motor India, South Korean conglomerate Hyundai Motor Group’s local subsidiary, is planning to float its shares in an initial public offering on the Indian stock market before the end of this year, according to reports Monday. Citing unnamed sources, The Economic Times reported that a group of global investment banks including Goldman Sachs, Citi, Morgan Stanley, JP Morgan, Bank of America, HSBC, Deutsche Bank and UBS came to Seoul last week to present their IPO proposals to Hyundai
Feb. 5, 2024
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LS targets N. America with Mexican EV parts plant
LS Electric said Monday that its electric vehicle parts subsidiary LS e-Mobility Solutions has recently completed the construction of an EV parts manufacturing plant in Durango, Mexico to target the North American electric vehicle market. The Durango plant, which covers an area of 35,000 square meters, is capable of producing 5 million EV relays and 4 million battery disconnect units per year. As a typical EV can have 20 relays or more, the plant has the capacity to deliver EV relays for up to 2
Feb. 5, 2024
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GM Korea unveils 2024 roadmap with four new vehicles
General Motors will release four new vehicles in South Korea this year including two electric vehicles as the global automaker looks to expand its presence in the local market, GM's Korean office said Friday. "We plan to strengthen GM’s presence in the fiercely competitive domestic market and meet the needs of those seeking the unique American product experience and new lifestyle that only GM can provide by expanding our comprehensive range of products," said Hector Villarre
Feb. 4, 2024
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[KH Explains] US Election: calm before the storm for Korean auto, battery makers
South Korean automakers and battery firms are closely monitoring this year's US presidential election and calmly bracing for negative impacts in the case of the Joe Biden administration’s Inflation Reduction Act possibly being repealed in a second Donald Trump term. The IRA, which is intended to boost American manufacturing and keep China in check, offers incentives to buyers of electric vehicles with certain battery parts and materials secured from US soil or via international partne
Feb. 4, 2024
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Hyundai sticks to premium pricing in US with new Santa Fe
Hyundai Motor continues to implement a premium pricing strategy emphasizing brand power and quality in global markets, as the automaker unveiled the pricing for the all-new 2024 Santa Fe sport utility vehicle which is substantially more costly than both its predecessors and South Korean counterparts. The US market will see an increase in the sticker price of all 2024 Santa Fe trims, ranging from an additional $2,250 to as much as $5,200, in comparison to the 2023 model, according to Hyundai Moto
Feb. 1, 2024
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Posco Future M hits record sales in 2023
Posco Future M said Wednesday it broke the record in revenue last year, driven by large-scale supply deals of electric vehicle battery materials. According to the company’s earnings report, annual sales revenue soared 44.2 percent on-year to 4.76 trillion won ($3.57 billion). In particular, sales of the battery materials business skyrocketed 73.4 percent to 3.36 trillion won, with an increase in the supply of cathode products, largely consisting of premium high-nickel products. Anode bat
Jan. 31, 2024
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Stellantis Korea appoints 1st female chief
Stellantis Korea has named Bang Sil as its new head, the global automaker’s Korean office announced Tuesday. Bang will become the first Korean and female managing director of Stellantis Korea once the appointment takes effect Thursday. The Amsterdam-headquartered automaker established its Korean office in 2021. The new chief has over 20 years of experience in the auto industry, covering areas such as public relations, marketing, sales and networking. She previously served as an executive a
Jan. 30, 2024
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Are Korean drivers losing appetite for EVs?
A recent survey released Tuesday by Encar, the largest used car platform in Korea, has revealed a shift in consumer preferences toward gasoline vehicles for new car purchases in 2024, with them regaining prominence over hybrids and electric vehicles, which were the top choices in 2022. The survey, titled "What's Your Next Car in 2024?" and conducted over a week in mid-January, involved 2,090 participants. 65.3 percent of these car owners plan to sell their current vehicles, primar
Jan. 30, 2024
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Samsung SDI logs record sales in 2023 on strong EV demand
Samsung SDI said Tuesday it posted an all-time high revenue last year with robust growth in sales of electric vehicle batteries. In its earnings report, the company said annual sales revenue soared 12.8 percent to 22.7 trillion won ($17.1 billion). Its operating profit, on the other hand, dropped 9.7 percent to 1.6 trillion won due to sluggish sales of small batteries and electronics materials. “Although we missed the profit target for last year, the EV battery business has seen 38 percent
Jan. 30, 2024
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Korea, 5th largest market for Bentley
UK luxury car manufacturer Bentley Motors said Monday it achieved an all-time high sales record in the South Korean market last year, making it the leading market in the Asia-Pacific region and the fifth largest globally for the second year running. Bentley Motors Korea accelerated its sales trajectory in the domestic market for the third year in a row, with 810 units sold in 2023, surpassing the sales milestones of 506 units in 2021 and 775 in 2022, according to data from the Korea Automobile I
Jan. 29, 2024
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Posco Future M seeks more regulatory support
Kim Jun-hyung, CEO of Korean battery materials manufacturer Posco Future M, urged the Ministry of Environment to reinforce measures to boost the rechargeable battery industry, according to the company on Monday. Kim met with Lim Sang-jun, deputy minister at the Environment Ministry, who visited the company’s artificial graphite anode materials manufacturing plant in Pohang, North Gyeongsang Province, earlier in the day. Posco Future M shared its achievements in the cathode and anode materi
Jan. 29, 2024
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Hyundai Mobis secures $9.2b in overseas orders in 2023
Hyundai Mobis secured a record high of global orders totaling $9.2 billion last year on the back of the worldwide automation trend in the car sector, the South Korean auto parts manufacturer under Hyundai Motor Group said Monday. Noting that the overseas orders significantly exceeded the originally set target of $5.6 billion, Hyundai Mobis highlighted that the new record was achieved through key parts orders signed with global automakers excluding the two Korean carmakers, Hyundai Motor Company
Jan. 29, 2024