Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Coupang earnings hit hard by losses from ailing Farfetch
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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[K-pop’s dilemma] Time, profit pressures work against originality
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Why femicide and dating violence are growing issues in S. Korea
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DP urges Yoon to accept proposal on cash handouts, special counsel probe over Marine's death
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[News Focus] Auto industry faces daunting challenge: Workforce reductions
South Korea’s auto industry, a key driver of the nation’s economic growth, is likely to go through throes of change as carmakers’ restructuring plans are gaining market support.An advisory group consisting of five independent industrial experts said Sunday in a report presented to the management and the labor union of Hyundai Motor that it would be inevitable for the largest carmaker here to reduce its manufacturing workforce by 20-40 percent by 2025. Stressing several changes
Oct. 7, 2019
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Mercedes-Benz posts No. 3 sales figure, after Hyundai, Kia
German carmaker Mercedes-Benz recorded the third-highest sales figure in the country in September, after Hyundai Motor and Kia Motors, outpacing three major local carmakers, according to industry data.According to data from the Korea Automobile Manufacturers Association and the Korea Automobile Manufacturers Association, a total of 118,895 vehicles were sold in September, an increase of about 8.9 percent from the previous month.Of them, Hyundai Motor and its sister company Kia Motors accounted f
Oct. 6, 2019
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[Herald Interview] Taking artistic approach to CSR
Corporate social responsibility programs have now become an important barometer of a firm’s sustainability, beyond simply making profits. For Han Sung Motor, the largest official dealer of Mercedes-Benz in South Korea, CSR projects have been a crucial part of its business strategy nearly for a decade. And what keeps the company going in its commitment toward the society is the changes it has brought so far, such as watching teenagers from underprivileged families grow their confidence and
Oct. 2, 2019
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Renault Samsung pioneers new sectors in local automotive market
Renault Samsung Motors has been pioneering new sectors in the local automotive market, which has been largely dominated by gasoline-powered sport utility vehicles. The automaker launched a face-lifted version of the QM6 in June, its most popular and most trusted midsized SUV model.The upgraded version, which is also the country’s first liquefied petroleum gas-powered SUV, has proved popular in the local market, leading the carmaker to record the second-highest midsized SUV sales in Ju
Oct. 1, 2019
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CODE42 attracts investment from Kia, SK, LG, CJ
CODE42, a local startup that is developing an autonomous transportation-as-a-service platform, said Tuesday it has raised 30 billion won ($25 million) in pre-Series A funding from major firms including Kia Motors and conglomerates SK, LG and CJ.This follows the 2 billion won in seed funding it received from Hyundai Motor in March.In one of the most successful pre-Series A funding round here, Kia invested the largest portion of 15 billion won, the company added. The 30 billion won will be used to
Oct. 1, 2019
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Hyundai appoints ex-NASA aeronautics expert to lead mobility biz
Hyundai Motor Group said Monday that it had appointed Dr. Shin Jai-won, former associate administrator of the US National Aeronautics and Space Administration, as vice president of its newly established urban air mobility division. In his new role, he will lead the development of air mobility technologies for the group. The automaker said Shin would propel forward the group’s efforts to advance into the urban air mobility market, based on his expertise in airframe, engine and aviation
Sept. 30, 2019
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Nissan to maintain Korean operations despite headwinds
Nissan Motor said Monday it will continue its operations in South Korea amid trade tensions between the two Asian neighbors, despite headwinds like a boycott of Japanese products.The Japanese carmaker’s commitment to South Korea follows market rumors that it will pull out of the market here as its sales have been hit hard by the escalating trade tensions between Seoul and Tokyo. “We make it clear that we will maintain our business operations in the ‘strategically importan
Sept. 30, 2019
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Hyundai Motor joins hands with Cummins for hydrogen fuel cell technology
Hyundai Motor Group said Friday it has partnered with US powertrain giant Cummins to develop technology for electric and fuel cell powertrains and commercialize them in the US. The automaker has signed a memorandum of understanding with Cummins to work together to develop next-generation fuel cell systems. Through the collaboration, the company expects to develop powertrain products by combining Hyundai Motor’s fuel cell systems with Cummins’ electric powertrain, battery a
Sept. 27, 2019
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Hyundai launches innovative festival for artists, developers, startups
Hyundai Motor Group said Thursday that its open innovation platform is to host a three-day festival called “Zero One Day,” where artists, developers and startups can share their ideas and communicate in a creative environment. The event is named after and hosted by Zero One, an open innovation platform launched by Hyundai in March 2018. It will offer opportunities for participants to present their projects and business models to the public. About 70 projects will be presented this ye
Sept. 26, 2019
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Audi VW opens art exhibition to present future vision
Audi Volkswagen Korea said Thursday it has opened a media art exhibition in Seoul to present the future of green mobility.Titled “The Next Chapter,” the exhibition displays joint projects by artists at home and abroad visualize safe and sustainable mobility and its role of changing the life of future generation. The two-week event is taking place at JCC Art Center in Jongro, central Seoul. It is a cultural platform for the company’s Tomoroad initiative, a joint project with Kor
Sept. 26, 2019
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Hyundai to test hydrogen trucks in Israel: report
Hyundai Motor Group is reportedly planning to conduct a large-scale trial of its hydrogen-fueled trucks in Israel, although the automaker refused to confirm the details Wednesday.According to the report by Israel’s Calcalist, a delegation from Hyundai visited the country last month to discuss the project with officials from the office of Prime Minister Benjamin Netanyahu.Israel’s extremely dry and hot climate due to the Dead Sea region, as well as optimal road situation in the Northe
Sept. 25, 2019
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Jaguar E-Pace combines bests of sports cars and SUVs
While driving exhilaration and extravagant exteriors are the usual perks of sports cars, low practicality and the lack of space are a drawback. Targeting the niche, Jaguar E-Pace blurred the lines between a sports car and a SUV by launching the diesel model earlier this year to boost the E-Pace as an efficient model with performance, succeeding the popularity of F-Pace which saw some 46,000 units of sales globally last year. The design elements of Jaguar E-Pace include the familiar Ja
Sept. 24, 2019
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LS chief urges for innovation in R&D projects for future growth
LS Group Chairman Christopher Koo has called for strengthening the group’s competitiveness in technological innovation, stressing that it is key to overcoming trade disputes between South Korea and Japan. Speaking at T-Fair, an in-house event held to encourage innovative engineers, Koo said the group needs to develop high value-added products and services to widen the gap with followers. He added that research and development projects should support such a move and generate growth en
Sept. 24, 2019
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Hyundai to start mass production of driverless cars in 2024
South Korean carmaker Hyundai Motor Group will start mass production of self-driving cars within the next five years, said Chung Euisun, the heir to the auto giant, as he made a hefty investment in a joint venture the company established with Aptiv on Monday (local time).At a luncheon session held in New York with Korean correspondents on the same day he signed the $4 billion deal with the US software developer, Chung said the company would apply the autonomous driving technology to be developed
Sept. 24, 2019
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Hyundai Motor, Aptiv team up for $4b joint venture on self-driving technology
South Korean auto giant Hyundai Motor Group has teamed up with Aptiv, formerly known as Delphi, for a $4 billion joint venture to develop autonomous technology, the companies said Monday. The joint venture between the world’s fifth-largest carmaker and the world’s leading software developer of autonomous vehicles is a “rare case,” Hyundai said, adding that the two will have 50 percent of shares each. Under the deal, the Seoul-based carmaker expects to make a bold move in
Sept. 23, 2019
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[Hydrogen Korea] Doosan’s hydrogen drone pushes the limits
The Korea Herald is publishing a series of articles on South Korea’s latest measures to support the hydrogen economy, a market drive for hydrogen-powered vehicles and the hurdles that stand in the way. This is the eighth installment. -- Ed.YONGIN, Gyeonggi Province -- At first sight, the DS30, a hydrogen-powered drone developed by Doosan Mobility Innovation, a subsidiary of South Korean conglomerate Doosan Group, resembles a giant spider with eight long legs. The 2.6-meter-long and 80-cent
Sept. 23, 2019
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Hyundai launches unit to boost mobility business in China
Hyundai Motor Group has launched Cradle Beijing seeking strategic partnerships with local firms for future mobility.The automaker’s global innovation center in Beijing is the fifth of its kind, following the centers in Silicon Valley, Seoul, Tel Aviv and Berlin. Cradle is Hyunda’s open innovation business for partnership with leading firms in future mobility technology and investments in global startups. The carmaker said it expects the unit to be the hub of innovative sol
Sept. 23, 2019
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[From the Scene] SsangYong’s Changwon plant responsible for gasoline engines of SUV powerhouse
CHANGWON, South Gyeongsang Province -- An engine is often dubbed the “heart of a car” as it converts gasoline energy for motion. When it comes to sport utility vehicles, the performance of an engine is even more important because it decides their power. SsangYong Motor, with 30-year-history, has been churning out gasoline engines at its Changwon plant in South Gyeongsang Province.The plant, comprised of two units, spans over 111,500 square meters. The first factory is respo
Sept. 22, 2019
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Hyundai Motor to donate $16 million for pediatric cancer research in US
Hyundai Motor America said Friday that it would donate $16 million this year to fund 76 research projects on children’s cancers.Of that amount, $13.2 million will be donated this month to support a pediatric cancer awareness campaign in the US, said Jose Munoz, CEO of Hyundai Motor’s North America regional office. As part of its community outreach efforts, Hyundai and its dealerships have participated in the Hyundai Hope on Wheels fundraising project since 1998 to fight pediatr
Sept. 20, 2019
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SK chief seeks business expansion in US, vows to invest $10b more
Introducing SK Group as a committed business in US, the group’s chief Chairman Chey Tae-won said the South Korean conglomerate would invest $10 billion in next three years in new growth engines.Chey accompanied by CEOs of SK’s subsidiaries, hosted an evening event in Washington on Thursday to present the future vision of the group and its investment plan in US, officials said. Held in its office there, SK Night attendees included Karen Kelly, deputy secretary of Department of C
Sept. 20, 2019