Hyundai Steel earns CDP honor for climate change response

Hyundai Steel, the steelmaking arm of Hyundai Motor Group, has been acknowledged for its strong efforts in tackling climate change by global sustainability evaluator Carbon Disclosure Project, the company said Friday. The company received the Carbon Management Honors award in the materials sector at the 2024 CDP Korea Awards, held April 30 at the Fairmont Ambassador Seoul. The award, presented by CDP Korea, highlights the top three Korean companies in each industry sector based on CDP’s global e

May 23, 2025

S-Oil CEO honored for ESG leadership, progress in Shaheen project

Anwar al-Hejazi, chief executive officer of Korean oil refiner S-Oil Corp., was named CEO of the year by the Korea Management Association for his role in advancing economic growth and driving business innovation, the company said Friday. Al-Hejazi was recognized for strengthening S-Oil’s position in the gasoline and diesel markets through consumer-focused marketing, as well as for the company’s environmental, social and governance initiatives. The refiner has been listed on the Dow Jones Sustain

May 23, 2025

LS consults with Vietnam for rare earth development

LS Eco Energy, a Vietnam-based cable manufacturer under Korea’s LS Cable & System, said Friday that its top executives met with the Vietnamese deputy industry minister to discuss ways to cooperate in developing the country's rare earth supply chain. LS Cable & System CEO Koo Bon-kyu and LS Eco Energy CEO Lee Sang-ho had a meeting with Deputy Minister of Industry and Trade Nguyen Hoang Long on Thursday to request regulatory support. The talks focused particularly on approvals related to radioacti

May 23, 2025

Hyundai Elevator expands R&D with 250m test tower

Hyundai Elevator, Korea’s largest elevator manufacturer, announced Wednesday the completion of its new research and development center in Chungju, North Chungcheong Province, expanding its innovation capabilities. The Hyundai Asan Tower, which integrates laboratories and a 250-meter-tall test facility, consolidates all the company's previously scattered research functions into a single location near its headquarters. A completion ceremony was held at the headquarters on Wednesday, attended by Hy

May 21, 2025

[Photo News] Road safety for older adults

People aged 65 and older attend a driving practice program hosted by Hyundai Motor Group at a training center in Hwaseong, Gyeonggi Province, on Tuesday. The Korean auto giant plans to hold 20 sessions of the program through November, focusing on defensive driving techniques, vehicle maintenance and the latest traffic regulations. (Hyundai Motor Group)

May 21, 2025

Hyundai to halt Ioniq 5, Kona EV production again amid weak demand

Hyundai Motor is set to temporarily halt production of electric vehicle models the Ioniq 5 and Kona EV at its Ulsan plant, marking its third production suspension this year amid sluggish global EV demand. According to industry sources on Tuesday, Hyundai Motor plans to suspend operations on the second production line at Plant 1 in Ulsan, where both the Ioniq 5 and Kona EV are manufactured for domestic and overseas markets. “Internal notification about the suspension has been distributed within t

May 20, 2025

Korean shipbuilders urged to target US vessel demand of up to 448 ships by 2037

Korea’s shipbuilding industry needs to undertake strategic moves to capture opportunities in its cooperation with the US, as the country’s demand for ships could reach up to 448 vessels by 2037, according to a report released by one of Korea’s major business lobbies. The Federation of Korean Industries on Sunday released a study conducted by professor Ryu Min-cheol of Korea Maritime & Ocean University. The study explores strategic ways Korea can cooperate with the US, as the country seeks to rel

May 19, 2025

Hyundai Motor Group captures more South African market share

Hyundai Motor Group recorded a 37 percent year-on-year increase in passenger car sales in South Africa last month, strengthening its foothold in one of Africa’s largest automotive markets. The Korean mobility giant, comprising Hyundai Motor Company and Kia, sold a combined total of 4,266 vehicles in April, according to a National Association of Automobile Manufacturers of South Africa report issued earlier this month. Hyundai Motor Company accounted for 2,989 units, up 41 percent from a year ear

May 18, 2025

Buffets are back: Diners seek bang for their buck amid inflation

Cho Ha-eun, a woman in her 30s, waited in line for over an hour to enter a casual buffet chain in Suwon, Gyeonggi Province, for lunch on a weekend in March. When she arrived around noon, more than 50 groups were waiting outside the restaurant, as it was offering strawberries as part of a seasonal event. “I expected there would be a wait because of the event, but not for 1 1/2 hours. There were several other locations of the same chain across Suwon (offering the same event),” Cho said. The chain

May 17, 2025

HD Hyundai, Hanwha discuss cooperation with US trade representative

Leaders of Korea's two major shipbuilders, HD Hyundai and Hanwha Ocean, met with US Trade Representative Jamieson Greer to discuss potential cooperation, as the US seeks to revitalize its shipbuilding industry. During the meeting with Greer on Friday, HD Hyundai Vice Chairman Chung Ki-sun talked about the company's ongoing collaboration with US defense shipbuilder Huntington Ingalls Industries. Emphasizing the growing need for closer industrial cooperation between the two countries, he proposed

May 16, 2025