Hanwha rises to No. 16 among global defense giants

Four South Korean defense companies — Hanwha Group, LIG Nex1, Hyundai Rotem and Korea Aerospace Industries — made the world’s 100 largest defense contractors for a second consecutive year, reflecting the industry’s growing export presence, particularly in Europe. Hanwha climbed six places to No. 16 in the annual ranking released Monday by US publication Defense News. The list ranks companies by defense revenue from the previous year. Hanwha’s defense revenue surged to $10.44 billion in 2025 from

2026-09-01 14:49:19:00

FTC clears Hanwha’s 15.9% stake in KAI

South Korea’s antitrust regulator has approved Hanwha Group’s acquisition of a 15.89 percent stake in Korea Aerospace Industries, clearing a key regulatory hurdle in the conglomerate’s push to build a defense business spanning land, sea, air and space. The Fair Trade Commission said Monday that it had approved the share purchases by Hanwha Aerospace, Hanwha Systems and Hanwha Ocean. The review focused on whether the minority stake would give Hanwha effective control over KAI. Under the Fair Trad

2026-08-31 16:37:46:00

SK On to supply W1.5tr ESS LFP battery to US NeoVolta Power

SK On said Monday it signed a major agreement with US-based NeoVolta Power to supply lithium iron phosphate, or LFP, battery cells for energy storage systems, expanding its footing in the rapidly growing North American power market. Under the contract, roughly estimated at 1.5 trillion won ($1.09 billion), SK On will supply 9 gigawatt-hours of LFP pouch cells manufactured at its Georgia plant over five years, from 2027 to 2031. Beyond the initial deal, the two companies plan to expand their part

2026-08-31 14:49:40:00

Posco Holdings secures W1tr line of credit for Argentina lithium push

Posco Holdings said Friday it had secured an 1 trillion won ($728 million) line of credit from the Inter-American Development Bank Group (IDB Group) for its Argentina lithium project, advancing its effort to build a China-free critical mineral supply chain. Posco Argentina — the company’s local lithium production subsidiary — received approval for a short-term credit facility from IDB Invest, the private sector arm of the IDB Group. Posco Holdings highlighted that IDB Invest highly acknowledged

2026-08-28 17:23:04:00

Innometry ramps up deployment of contactless battery CT system

Innometry said Friday it was accelerating the mass-production deployment of its next-generation 1PASS-RING CT system, featuring a contactless scanning design that eliminates physical handling to protect battery cells from potential damage. Unlike traditional CT systems that rely on robotic arms or grippers to physically rotate battery cells during scanning, the advanced CT uses a ring-shaped scanner where the X-ray assembly rotates around a stationary cell. The system incorporates a straight-thr

2026-08-28 16:13:24:00

BYD Sealion 6 DM-i targets Korea with EV-like drive, pricing edge

BYD is stepping up its push into South Korea with the launch of the Sealion 6 DM-i midsize plug-in hybrid (PHEV) SUV, directly challenging dominant players like Hyundai Motor Co. and Kia. Targeting the country’s surging demand for hybrid vehicles, the Chinese automaker seeks a competitive edge over local rivals by offering electric vehicle-like refinement and high fuel efficiency at a more affordable price. While consumer reluctance to manage both gas fill-ups and electric charging has kept Kore

2026-08-28 15:58:43:00

Hyundai Motor to launch over 100 vehicle models by 2030

Hyundai Motor Co. unveiled its most extensive product expansion yet, targeting over 100 model launches globally by 2030 across North America, South Korea and Europe. Backed by strengthening profitability, the automaker aims to leverage this massive rollout to drive its transformation into a physical AI-driven tech company. At a CEO Investor Day event in Seoul on Wednesday, Hyundai Motor Co. President and CEO Jose Munoz revealed that among the new models, 58 will be launched in North America, wit

2026-08-26 18:19:54:00

Why Hyundai's Atlas stirs labor debate in Korea, but not the US

Hyundai Motor Group’s plan to begin deploying Atlas humanoid robots at its Georgia plant in 2028 is exposing a trans-Pacific divide over automation. Korean union workers are demanding job protections, while organized resistance has yet to emerge at Hyundai’s nonunion US factories. Hyundai has not announced plans to deploy Atlas at its Korean plants. Still, its Korean union raised the potential impact of physical artificial intelligence and robotics during this year’s labor negotiations, seeking

2026-08-26 14:53:46:00

Aston Martin sees Korea rising to No. 2 in Asia-Pacific

Aston Martin has launched three high-performance S models in Korea in its largest-ever local product rollout, betting that the country could soon become its second- or third-largest market in the Asia-Pacific region. The British luxury carmaker unveiled the DB12 S Super Tourer, Vantage S sports coupe and DBX S SUV, as it seeks to accelerate its expansion in Korea. Neil Hughes, head of product management at Aston Martin, said the broad product update reflects Korea’s rapid emergence as an importa

2026-08-26 00:00:00:00

Renault puts safety first with assertive ADAS in Filante

Renault Korea is positioning the assertive driver-assistance systems in its new Filante crossover as a deliberate safety choice, even as their frequent interventions draw mixed reactions from drivers. The E-segment crossover offers up to 34 advanced driver-assistance and safety features under Renault’s “Human First” philosophy, which emphasizes early detection and prevention of potential accidents. At the center of the package is Active Driver Assist. The system monitors surrounding traffic, adj

2026-08-25 11:43:33:00