Articles by Byun Hye-jin
Byun Hye-jin
hyejin2@heraldcorp.com-
LG Energy Solution teams up with Ford on Turkey battery project
LG Energy Solution said Wednesday it has forged a new partnership with Ford and KOC Holding, a Turkish real estate developer, to build an electric vehicle battery plant in Turkey, two weeks after similar talks fell apart between its crosstown rival SK On and the US auto giant. Under a nonbinding memorandum of understanding, the three companies agreed to build an EV battery plant in the Baskent region near the Turkish capital of Ankara. The plant will have an annual production capacity of 25 gi
Mobility Feb. 22, 2023
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Startups Ministry to carry out tech mediation on Lotte, Algocare
South Korea’s Ministry of SMEs and Startups said Wednesday it will carry out a mediation on a technological theft dispute between Lotte Healthcare and Algocare. The ministry plans to form a coordination group composed of three to five lawyers and other experts as early as this week to hold a technological dispute resolution proceeding for the two companies. Algocare, a local health care startup, recently raised suspicions over Lotte Healthcare’s showcase of an automatic nutrition
Industry Feb. 16, 2023
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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
Mobility Feb. 15, 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
Mobility Feb. 14, 2023
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[Herald Interview] Mohegan Inspire aims to become post-COVID leisure landmark in Incheon: CEO
Ray Pineault, CEO of Mohegan, the US-based global resort developer, has shared his vision for Asian expansion, unveiling the company’s ambitious plan to open a massive resort complex near Incheon International Airport, the nation’s main gateway, later this year. “We had already expanded internationally in North America when we entered into Canada. But the growth of tourism in Incheon and the amount of visitation that comes to Korea create tremendous opportunity for us to brin
Industry Feb. 12, 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
Mobility 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
Mobility 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
Mobility 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
Mobility Feb. 8, 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
Mobility 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
Mobility Feb. 5, 2023
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LG Energy Solution to supply commercial EV battery modules to FEPS
LG Energy Solution said Thursday it has forged a partnership with Freudenberg E-Power Systems, a US-based clean energy systems provider affiliated with Germany's Freudenberg Group, to provide battery modules for commercial electric vehicles. Under the agreement, the battery maker will supply 19 gigawatt-hour battery modules that can power more than 50,000 heavy-duty EVs such as buses and trucks or 270,000 passenger EVs. FEPS plans to assemble LG Energy Solution’s battery modules int
Mobility Feb. 2, 2023
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Mercedes-Benz Korea pins high hopes on EVs to retain top spot
Mercedes-Benz Korea said Wednesday it will expand electric vehicle models to account for more than 15 percent of total car sales this year, underscoring its green push in the fourth-largest market of the German carmaker. “Last year, EV sales were less than 10 percent of the total sales. But starting from this year, we will offer more EV lineups (for customers), accelerating shift towards electrification,” said Lee Sang-kuk, vice president of sales department at Mercedes-Benz Korea
Mobility Feb. 1, 2023
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VW Korea halts car sales, to issue recall over faulty warning triangles
Volkswagen Korea will issue a recall of more than 67,000 vehicles and has suspended all new car sales due to faulty warning triangles, a car accessory to warn drivers after emergency stops, a move experts here called an unprecedented precautionary measure after the firm's painful “Dieselgate” back in 2015. The Korean unit of the German carmaker said Tuesday a total of 67,459 vehicles across seven different models will be affected by the recall. The recall schedule has not been
Mobility Jan. 31, 2023
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SK On exceeds hiring goal in Georgia ahead of schedule
The US State of Georgia said Tuesday SK Battery America, a production subsidiary of South Korean battery giant SK On, has exceeded its hiring goal two years earlier than the initial schedule to fill jobs at its manufacturing facilities for electric vehicle batteries in the city of Commerce, Jackson County. The state government said the company had achieved its goal of 2,600 employees as of the end of 2022, with plans to expand the workforce to some 3,000 this year. Since launching its EV batte
Industry Jan. 31, 2023
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