KGM secures $75m investment from China’s Chery

South Korean automaker KG Mobility said Monday it had secured a $75 million strategic investment from China’s Chery Automobile, as the two companies strengthen their cooperation in vehicle development and future technologies while expanding in global markets. The companies signed the agreement Sunday at the Grand Hyatt Seoul, extending a partnership that began with a platform licensing deal in October 2024 and a joint development agreement for midsize and large SUVs in April 2025. KGM Chair Kwak

2026-08-03 09:01:02:00

Hyundai’s big bet beyond cars: Physical AI in 2 minutes

Hyundai Motor Group wants to move beyond car manufacturing and become a physical artificial intelligence company spanning autonomous vehicles, robots, intelligent factories and urban infrastructure. The world’s third-largest automaker by volume believes its manufacturing scale, global factory network, technology talent, big tech partnerships and ownership of Boston Dynamics could give it an edge in bringing AI into the physical world. • Hyundai Motor Group Executive Chair Chung Euisun unveiled t

2026-08-02 19:33:11:00

Hyundai wants to be an AI company, not just a carmaker

Hyundai Motor Group is setting its sights well beyond car manufacturing. The world’s third largest automaker by volume is seeking to transform itself into a physical artificial intelligence company spanning autonomous cars, robots, intelligent factories and urban infrastructure. “Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing by expanding into autonomous driving, robotics and AI-defined factories, accelerating our transformation into a physical AI s

2026-08-02 13:53:45:00

Hanwha promotes chairman’s three sons in leadership reshuffle

Hanwha Group on Thursday promoted Kim Dong-kwan to executive vice chairman as the South Korean conglomerate elevated all three sons of Chairman Kim Seung-youn, further cementing its third-generation leadership structure. Kim Dong-kwan, the chairman’s eldest son, has overseen Hanwha’s defense, shipbuilding, aerospace and energy businesses, including Hanwha Aerospace, Hanwha Ocean and Hanwha Solutions. The group credited him with driving rapid global growth and successfully executing strategic pro

2026-07-30 17:37:40:00

Hyundai chief visits Brazil as automaker steps up SUV, EV push

Hyundai Motor Group plans to expand its SUV lineup, pursue local production of electric vehicles and strengthen research and development in Brazil as Chinese automakers rapidly gain ground in Latin America’s largest auto market. The strategy was reviewed during Hyundai Motor Group Executive Chair Chung Euisun’s visit Monday to Hyundai Motor’s plant in Piracicaba, Sao Paulo, where he inspected production operations and discussed the company’s regional sales, electrification and long-term growth p

2026-07-30 15:06:33:00

HD Korea Shipbuilding's Q2 profit jumps 73% on high-priced vessel sales

HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai’s shipbuilding businesses, said Wednesday its second-quarter operating profit jumped 72.5 percent from a year earlier driven by expanded sales of high-priced vessels, including liquefied natural gas carriers. For the April-June period, HD KSOE posted an operating profit of 1.65 trillion won ($1.14 billion), while revenue rose 20.2 percent to 8.93 trillion won. HD KSOE attributed the earnings improvement

2026-07-29 14:47:32:00

Chung says Hyundai has ‘long way to go’ in Brazil push

Hyundai Motor Group Executive Chair Chung Euisun said the automaker still has significant progress to make in Brazil despite being on track to sell more than 200,000 vehicles there for a third straight year, as the group unveiled plans to expand its business in the South American country. “There is still a long way to go,” Chung told reporters Tuesday at a Korea-Brazil business roundtable held in Sao Paulo, when asked about Hyundai's sales prospects in Brazil. “Chinese companies are also pushing

2026-07-29 14:17:38:00

Hanwha Ocean Q2 profit nearly doubles on high-margin LNG ships

Hanwha Ocean said Monday its second-quarter operating profit nearly doubled from a year earlier, driven by the ramp-up of liquefied natural gas carriers and other large projects, as well as a major revenue contribution from the delivery of an offshore project. The South Korean shipbuilder posted an operating profit of 736.1 billion won ($500.6 million) for the April-June period, up 98 percent from a year earlier, according to a regulatory filing. Revenue surged 65.2 percent to 5.44 trillion won,

2026-07-27 18:02:33:00

Kia Q2 profit falls despite record sales, as US tariffs, incentives bite

South Korean carmaker Kia said Friday its operating profit fell 4.9 percent in the second quarter, as US auto tariffs and higher sales incentives offset record revenue and vehicle sales fueled by surging demand for hybrid and electric models. Operating profit declined to 2.63 trillion won ($1.79 billion) in the April-June period from a year earlier, according to Kia. Revenue rose 12.6 percent to 33.04 trillion won, marking the highest quarterly figure, while net profit increased 2.6 percent to 2

2026-07-24 17:39:17:00

Korea, US open shipbuilding hub to advance MASGA initiative

South Korea and the US opened a joint shipbuilding cooperation center in Washington on Thursday, officially kicking off a broad initiative aimed at revitalizing America’s shipbuilding industry through investment, technology sharing and workforce training. Senior government officials, lawmakers and business executives from both countries attended the opening ceremony for the Korea-US Shipbuilding Partnership Center, which will serve as a hub for the two countries’ joint initiative to rebuild the

2026-07-24 15:58:20:00