BYD rides global plug-in hybrid boom with Sealion 6

BYD is betting that plug-in hybrids will become the next major growth engine in the global electrified vehicle market, with its Sealion 6 DM-i emerging as one of the company's strongest-selling models across Europe, Australia, Latin America and Southeast Asia. The Chinese automaker's success reflects a broader shift in the global market, where consumers are increasingly turning to plug-in hybrid electric vehicles as a practical alternative to battery electric vehicles. Offering electric driving

2026-07-23 15:35:20:00

Hyundai Motor Q2 profit falls despite record revenue

Hyundai Motor said Thursday that its second-quarter operating profit dropped about 21 percent as rising raw materials costs and production disruptions outweighed record-breaking revenue and robust demand for its hybrid vehicles. South Korea's largest automaker reported an operating profit of 2.85 trillion won ($1.94 billion) for the April-June period, down 20.8 percent from 3.6 trillion won a year earlier. Revenue rose 1.9 percent to 49.22 trillion won, marking the highest quarterly figure in th

2026-07-23 15:06:56:00

LG Energy Solution seeks US import ban on EVE batteries

LG Energy Solution has filed patent infringement complaints in the US against Chinese battery maker EVE Energy, seeking to block imports of allegedly infringing cylindrical batteries and products containing them. Tulip Innovation, which manages and licenses patents on behalf of the South Korean battery manufacturer, said Wednesday that it had filed a complaint with the US International Trade Commission and a patent infringement lawsuit in a federal court in Texas against EVE Energy. The legal ac

2026-07-23 14:54:37:00

Trump wants Korean ships. US law stands in the way

US President Donald Trump’s repeated mentions of South Korean shipbuilders for its Navy buildup have raised expectations that companies like Hanwha Ocean and HD Hyundai Heavy Industries could play a bigger role in modernizing the country’s aging naval fleet. The momentum is real. Since South Korea and the US launched their shipbuilding partnership under the “Make America Shipbuilding Great Again” initiative last August, the two sides have moved from broad political commitments toward concrete co

2026-07-22 15:17:38:00

Hyundai chief meets Asante king as group deepens Ghana ties

Hyundai Motor Group Executive Chair Chung Euisun met the king of the Asante Kingdom during a recent visit to Ghana, highlighting the South Korean automaker’s growing ties with the West African country. Chung visited Manhyia Palace in Kumasi, the capital of Ghana’s Ashanti Region, on July 15 and paid a courtesy call on Otumfuo Osei Tutu II, known as the Asantehene, one of Ghana’s most revered traditional rulers, according to local media reports and official social media posts from the palace. Chu

2026-07-21 14:10:04:00

Hyundai union escalates partial strikes, raising pressure on production

Hyundai Motor’s union ramped up pressure on the automaker Monday by launching a second round of partial strikes as wage talks with South Korea’s largest automaker remained stalled. Members of the Hyundai Motor branch of the Korea Metal Workers’ Union said it will halt work for four hours at the end of each shift from Monday through Wednesday, up from two hours per shift during their first round of strikes last week. The morning shift will suspend production from 10:50 a.m. to 3:30 p.m., while th

2026-07-20 14:39:16:00

Lee pledges to protect global heritage as Korea hosts UNESCO committee for first time

South Korean President Lee Jae Myung pledged Sunday to help safeguard the world's cultural heritage and promote global peace and prosperity, as South Korea hosted the UNESCO World Heritage Committee for the first time. The 48th session of the UNESCO World Heritage Committee opened its annual session in Busan on Sunday. It was the first time South Korea has hosted the committee since joining the World Heritage Convention in 1988. About 3,000 representatives from the convention's 196 states, inter

2026-07-19 20:47:20:00

Trump opens door to expanded US Navy partnership with Korean shipbuilders

US President Donald Trump has raised the possibility of purchasing ships built outside of the US while highlighting South Korean companies as potential partners in rebuilding the US Navy. Speaking Wednesday at the Pennsylvania Defense and Innovation Summit at the US Army War College in Carlisle, Pennsylvania, Trump said an expanded partnership with South Korea is critical to revitalizing the US' aging shipbuilding sector. "We have to build our Navy ... We've got to get it going. So, we're goin

2026-07-16 14:26:49:00

Hanwha shareholders approve split, sharpening succession roadmap

Hanwha Corp., the holding company of Korea’s seventh-largest conglomerate Hanwha Group, won shareholder approval Wednesday for a corporate split to separate its core defense, shipbuilding, energy and financial businesses from its machinery and lifestyle operations. The restructuring into two entities is expected to give the group's third-generation heirs clearer control over their respective business areas while further solidifying the grip of Vice Chair Kim Dong-kwan, the eldest son of Hanwha G

2026-07-15 17:43:34:00

Korea eyes slice of global SMR market after pact with US, Japan

A new small modular reactor partnership between South Korea, the US and Japan is fueling hopes that Korean energy companies will capture a larger share of the global market for nuclear power. Last week, the three countries signed a memorandum of cooperation to deploy SMR in third countries, with an initial focus on the Indo-Pacific region. Signed by the foreign ministers of the three countries on the sidelines of the NATO Summit in Turkey, the agreement is raising expectations of new opportuniti

2026-07-15 15:40:11:00