Most Popular
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Probe of first lady on Dior bag allegations set to begin
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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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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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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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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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Police seek arrest warrant for med student who killed girlfriend
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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BMW presents revamped electrification vision
BMW Korea presented the largest number of car lineups at 24 at the Seoul Mobility Show 2023, underscoring its net-zero initiative as a key vision for future mobility. BMW, along with sub-brands Mini and BMW Motorrad, introduced its distinctive clean car models powered by battery and hydrogen engines. The Korean unit of the German carmaker showcased the prototype of iX5, a hydrogen fuel cell vehicle, for the first time in Korea. On a single hydrogen charge, which takes around 3 to 4 minutes, it c
March 30, 2023
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Porsche Vision 357 makes Asia debut in Seoul
Porsche Korea on Thursday showcased its Vision 357 sports car for the first time in Asia at the Seoul Mobility Show 2023, celebrating its 75 years of sports car history. The car model is an homage to the first-ever Porsche sports car, the 356, the dream sports car made by Ferry Porsche, the legendary car designer and founder of the German carmaker. The symbolic car made its Asia debut in Korea, Porsche's sixth-largest market. “We have sold around 310,000 vehicles worldwide last year a
March 30, 2023
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Incheon Airport boasts logistics leadership
Incheon Airport marks its 22nd anniversary on Wednesday this year, celebrating a rebound in international travel and cargo shipping after the pandemic upended air travel for three years. Despite the setback, it has maintained its status as the second-largest logistics hub in Northeast Asia, Incheon International Airport Corp. said in a statement. Incheon Airport processed the second-largest amount of international cargo in the world both in 2021 and 2022, the airport said. Including passenger pl
March 29, 2023
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Incheon Airport CEO resigns under political pressure
Incheon International Airport Corp. CEO Kim Kyung-wook said Tuesday he offered to resign, citing political pressure from Transport Minister Won Hee-ryong. “I have expressed my intention to resign to the Land, Infrastructure and Transport Minister on March 23 that I will be stepping down from the post on April 28,” said Kim during a press conference at Incheon Airport. “I asked the minister to withhold the news release until I resign as a courtesy. But somehow, a local news outl
March 28, 2023
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[Graphic News] S. Korea’s beef imports hit record high in 2022
South Korea’s imports of beef reached a record high last year on growing demand for the meat and the government’s zero-tariff scheme, data showed. The country’s beef imports came to 477,000 metric tons in 2022, the largest volume ever, compared with 453,000 tons a year earlier, according to the data from the Korea Rural Economic Institute. Beef imports have been on a constant rise in recent years, and last year’s figure marked a 60 percent growth from that in 2015, the in
March 28, 2023
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Asiana Airlines speeds up integration with Korean Air
Asiana Airlines said Monday it has formed a task force to accelerate the business integration process with Korean Air. The task force, headed by Asiana Airlines Vice President Won Yoo-suk, consists of a total of 42 staff and executives. Legal and strategic planning units will oversee the task force. The passenger and cargo business, finance and public relations units will also be collecting data requested by the remaining three jurisdictions -- the European Union, the US and Japan -- from whic
March 27, 2023
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[Photo News] New Sonata
Hyundai Motor Company on Monday unveiled the design of its new Sonata, the eighth-generation model of the Korean automaker's popular midsize sedan. The new Sonata embodies the brand's design philosophy of "Sensuous Sportiness" with its seamless horizon lamp on the front. The vehicle will be on display to the public for the first time at the Seoul Mobility Show slated from March 31 to April 9 at Kintex in Gyeonggi Province.
March 27, 2023
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Posco Future M named top supplier for General Motors
South Korea’s battery materials producer Posco Future M said Sunday it has received an award from General Motors for its outstanding achievement across the global purchasing and supply chain. It was one of 14 companies to have received the General Motors’ Overdrive Award, which is given to companies who specialize in automotive components, batteries and software provision. The evaluation criteria for the award include sustainability, innovation, launch excellence and safety. Posc
March 26, 2023
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[Photo News] Hyundai's Busan Expo promotion
Hyundai Motor Group launched a global promotion program for the southern port city of Busan’s 2030 World Expo bid prior to a visit to Korea by the Bureau International des Expositions delegation, slated for April 2-7. The car maker released 16 1-minute invitation videos created by Busan citizens in different languages including English, Chinese, Spanish and Portuguese.
March 26, 2023
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[From the Scene] Hyundai Heavy Industries aims to cement global No.1 position
ULSAN -- Spring has arrived early in Ulsan as cherry blossoms were in already full bloom along the streets of the southeast port city on Wednesday, about two weeks before the forecasted blossoming dates. In a similar trend, Hyundai Heavy Industries, the world’s top shipbuilder under South Korean conglomerate HD Hyundai, is enjoying the industry’s much-awaited revival as the company looks to widen its lead over global competitors on its large number of backlog orders. The engine depar
March 26, 2023
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LG Energy Solution to build W7.2tr battery plants in Arizona
LG Energy Solution will invest 7.2 trillion won ($5.6 billion) to build two battery plants in the US to solidify its leadership in the battery value chain in North America, the South Korean battery maker announced Friday. The battery plants will break ground in Queen Creek, Arizona, this year. The company is spending 4.2 trillion won on the first plant to produce cylindrical batteries, which will be supplied to US electric vehicle makers. The company said it will be the first Korean battery make
March 24, 2023
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Korea, Indonesia join forces to build EV ecosystem
Government officials and business leaders from South Korea and Indonesia on Friday underscored combined efforts to expand the electric vehicle ecosystem in the Southeast Asian country at a business forum marking the 50th anniversary of bilateral ties. “The collaboration is very important because you (Korea) have very good technology on the lithium battery. By 2027, we are hopefully going to be the largest lithium battery producer globally,” said Luhut Binsar Pandjaitan, coordinating
March 24, 2023
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[Herald Interview] Rolls-Royce’s 1st EV Spectre to make Asia debut in Korea
Rolls-Royce Motor Cars will present the Spectre -- the British high-end carmaker’s first and much-anticipated electric vehicle -- in Korea in June for the first time in Asia, according to CEO Torsten Muller-Otvos. “Korea is one of the fastest-growing markets for us worldwide. We decided that Spectre will be first shown here in Korea for Asia,” said Muller-Otvos in an interview with the Korea Automobile Journalists Association in Seoul on Wednesday. According to the Korea Automo
March 23, 2023
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Hyundai’s global COO joins board to boost expertise
Hyundai Motor Company has bolstered its global expertise by adding global chief operating officer Jose Munoz to the board of directors, the automaker said Thursday. The proposal to add Munoz to the board was approved at the 55th general shareholders’ meeting held at the company’s headquarters in southern Seoul earlier in the day. Munoz, who has 30 years of experience in the global auto industry, joined the Korean company in May 2019. He has played an integral role in securing Hyundai
March 23, 2023
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Hyundai, Advent to speed up fuel-cell business
Hyundai Motor Group said Thursday it has signed a memorandum of understanding with the US-based Advent Technologies to develop hydrogen fuel cells, with the goal of ramping up its hydrogen car business. Under the partnership, the carmaker plans to acquire key technologies for hydrogen fuel cells that can operate at 200 degrees Celsius from Advent Technologies by 2024. It will provide ion transfer materials and catalysts to the Boston company, who will use them and support the technology requir
March 23, 2023
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[Photo News] For Turkey
Hyundai Glovis, a logistics affiliate under South Korean automobile giant Hyundai Motor Group, said Thursday that the company will ship the Korean Red Cross' two 5-ton trucks to Turkey for free to help the earthquake-hit people there. One truck is equipped with clothes washers and dryers, and the other has cooking tools that can provide meals enough for 300 people at once.
March 23, 2023
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Hyundai Heavy Industries hits 200m horsepower in engine output
Hyundai Heavy Industries, the nation's largest shipbuilder affiliated with HD Hyundai, said Wednesday that its accumulative engine production for vessels has exceeded 200 million horsepower -- a record in the global shipbuilding industry. The company held a ceremony to mark the production milestone as it started a new 74,720-horsepower vessel engine at its engine production plant in Ulsan, an industrial city on the southern coast. The company said the latest feat comes 44 years since it sta
March 22, 2023
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Posco Future M to build W400b battery materials plant in Pohang
Posco Future M, formerly called Posco Chemical, said Tuesday it would construct an electric vehicle battery materials plant in Pohang, North Gyeongsang Province, after landing a 40 trillion won ($30.6 billion) deal with Samsung SDI earlier this year. During a shareholders meeting Monday, the company decided to build a 392 billion-won plant that exclusively produces nickel cobalt aluminum (NCA) battery materials for the first time. The estimated annual production capacity is 30,000 tons, enough
March 21, 2023
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[Photo News] EV charging robot
Hyundai Motor Group on Tuesday unveiled an artificial intelligence-based automotive charging robot. According to the carmaker’s test video, the robot communicates with the Ioniq 6 electric sedan and controls the charging process, from parking to opening and closing the charger port cover. Details about the robot’s mass-market debut were not disclosed immediately.
March 21, 2023
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Kia unveils EV5 concept in China in renewed sales push
Hyundai Motor Group’s Kia on Monday unveiled the concept of its full-electric midsized sport utility vehicle EV5 in China, renewing its sales push in the all-important market where it has struggled to elevate its shrunken market share. The carmaker held the Kia EV Day event, its first media event this year, in Shanghai. Earlier, Kia said it would produce the EV5 in China for both domestic and global sales. The car is the smallest of its EV lineup. Since the 2021 debut of the EV6, its fir
March 20, 2023