Articles by Byun Hye-jin
Byun Hye-jin
hyejin2@heraldcorp.com-
[Herald Interview] Indiana lures Korean businesses with skilled workforce, hefty incentives
The US state of Indiana is seeking to set up a liaison office in South Korea to reach out to Korean businesses that are investing heavily to expand their presence in the burgeoning electric vehicle market there. “We are excited about opening a liaison office here that will focus on helping Indiana secure investment from Korea-based companies,” Indiana’s Secretary of Commerce Brad Chambers told The Korea Herald in an interview in Seoul Friday. “We are actively working to
Mobility March 20, 2023
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Seoul Mobility Show to showcase new EVs, flying cars
The upcoming Seoul Mobility Show will unveil a wide range of innovative transportation spanning from new electric vehicles to air taxis, the organizing committee said Thursday. The 11-day exhibition, slated for March 30 - April 9, is scheduled to take place at Kintex in Gyeonggi Province. More than 160 mobility companies including automakers, mobility service providers and mobility software companies across 10 countries will participate in the event, a 60 percent jump from a year earlier, accord
Mobility March 16, 2023
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Hyundai becomes world’s third-largest carmaker
Hyundai Motor Group has become the world’s third-largest carmaker in terms of sales, an impressive feat after more than two decades when, in 2000, the South Korean auto giant made it to the global top 10 list. According to its regulatory filing Wednesday, the carmaker sold a total of 6.8 million vehicles last year, the third highest after Toyota’s 14.8 million units and Volkswagen’s 8.5 million units. The sales figure outpaced Renault-Nissan Alliance's 6.2 million unit
Mobility March 15, 2023
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Hyundai to acquire GM's auto plant in India
Hyundai Motor Group said Tuesday it is in the early stage of signing a deal to acquire General Motors’ car manufacturing plant in India, the world’s third-largest car market. The Indian unit of Hyundai Motor has signed a term sheet with GM to acquire its automobile plant in Talegaon, the western state of Maharashtra, India. It is the first time that the local unit is seeking an acquisition of its industry rival’s manufacturing facilities since it made foray into India in 1996.
Mobility March 14, 2023
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Ford points finger at SK On over F-150 recall
US auto giant Ford recently reiterated SK On’s battery defect in recalling 18 F-150 Lightnings that led to the production shutdown of the electric pickup trucks after a battery fire incident last month. “Ford is recalling 18 F-150 Lightnings due to a battery cell manufacturing defect, which occurred over a four-week period starting at the end of last year,” the carmaker said in a statement Friday local time. SK On is the battery supplier for the flagship model. The trucks mig
Mobility March 13, 2023
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[KH Explains] Korean battery makers hint at ‘price war’ against Chinese rivals
After years of a high-pricing, premium strategy, South Korea’s top three battery makers -- LG Energy Solution, Samsung SDI and SK On -- are increasingly turning their eyes to low-priced batteries in an apparent move to prevent ceding more market share to their fast-growing Chinese rivals in the soaring global electric vehicle market. SK On, a spinoff from SK Innovation, will unveil its first lithium iron phosphate (LFP) battery, at this week’s InterBattery trade show that kicks off
Mobility March 12, 2023
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Bentley unveils first luxury showroom in Seoul
Bentley Motors said Wednesday it has opened Bentley Cube, its first high-end retail showroom, in South Korea, catering to the fast-growing number of luxury customers craving exclusive experiences. Located in Gangnam, southern Seoul, the four-story flagship shop offers a private space for Bentley customers to enjoy the brand’s bespoke luxury lifestyle. “Korea is a leading country in luxury sales, the biggest market in the Asia-Pacific region. (The grand opening of Bentley Cube) is
Mobility March 8, 2023
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Corporate Korea sees momentum in reviving ailing Japan business
Amid the budding efforts to patch up the rocky relationship between South Korea and Japan, major Korean firms are expected to see momentum grow for the revival of their ailing Japan business. Japan has long remained a graveyard for Korean companies, even for the most successful ones like Samsung Electronics and Hyundai Motor, because consumers there are known to prefer local brands and like Sony and Toyota -- who also happen to be Korean brands' archrivals in almost all sectors globally. Ov
Industry March 7, 2023
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7 in 10 Hyundai, Kia cars sold in US are SUVs
More than 7 in 10 cars sold by Hyundai Motor Group in the US were sport utility vehicles, according to the South Korean auto giant’s sales data unveiled Monday. In the first two months of this year, Hyundai Motor and its smaller affiliate Kia sold a combined 162,632 SUVs in the all-important US market, an equivalent of 70.7 percent of its total sales of 230,000 vehicles. Hyundai and its luxury sibling Genesis sold 86,718 SUVs, while Kia sold 5,914 SUVs. It is the first time that the SUV
Mobility March 6, 2023
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Competition heats up for first Hyundai factory job openings in decade
Tens of thousands of job seekers have flocked to the Hyundai Motor Group website after the carmaker announced it would recruit production line workers for the first time in a decade, the company said Friday. More than 30,000 people visited the carmaker's recruitment page on the first day of applications on Thursday, causing a server slowdown throughout the day, according to the company. On Friday, it took more than 20 minutes to load the webpage when The Korea Herald tried to access it arou
Mobility March 3, 2023
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[KH Explains] Would Renault-Nissan alliance affect Renault Korea?
Last month, auto giants Renault and Nissan announced that they were reshaping their decades-old strategic alliance, calling Europe a top priority market in their renewed green push. With an Asia strategy missing in the landmark deal, experts here warn that Renault Korea Motors could be downgraded as a production base for the French carmaker unless sizeable investments are made in developing its own new cars. Decades-old alliance reshaped On Feb. 6, Renault and its Japanese partner Nissan u
Mobility March 2, 2023
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Renault Korea, union pledge win-win partnership
Renault Korea said Tuesday its labor and management have agreed to join forces to push for the company’s Busan factory to become a global production base for the French carmaker. According to the company, Renault Korea CEO Stephan Deblaise and Kim Dong-suk, the labor union leader, signed a joint declaration that underscores a win-win partnership and mutual trust. “Based on renewed labor-management relations, we should fulfill our vision as one team. Without cooperation from the lab
Mobility Feb. 28, 2023
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China’s duty-free giant joins bid to operate at Incheon Airport
Competition for operational rights for lucrative duty-free shops at Incheon Airport is heating up, with China Duty Free Group, one of the largest duty-free retailers globally, joining the race. According to industry sources on Monday, CDFG offered its bid to join the heated race after participating in a tender briefing session last month. Competing head-on with Korean rivals such as Lotte, Shinsegae and Hotel Shilla, the Chinese duty-free giant aims to win as many as two business licenses to ope
Consumer Feb. 27, 2023
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[Test Drive] RAV4 Plug-in Hybrid, Toyota’s latest offering for EV hesitators
After years of supply chain disruptions and diplomatic tensions, Japanese auto giant Toyota is seeking a turnaround in Korea with its first offering to win back customers -- the new RAV4 Plug-in Hybrid, which combines the best qualities of gas and electric cars. The plug-in hybrid model is the latest addition to the carmaker’s popular RAV4 crossover utility vehicle lineup. In Korea, the self-charging RAV4 Hybrid was Toyota’s top-selling hybrid car last year, making up 43 percent of h
Mobility Feb. 26, 2023
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Hyundai, Kia cars win top safety rankings in US
Hyundai Motor Group said Sunday that four of its cars -- Palisade, Sonata, Genesis G90 and Kia’s Telluride -- have won awards in a crash test held by the US Insurance Institute for Highway Safety, one of the industry's top safety honors. The Hyundai Palisade, Kia Telluride and Genesis G90 were named as Top Safety Pick+, the highest ranking, while Hyundai Sonata won the second-highest Top Safety Pick. The Telluride, in particular, received the highest rankings in every test category,
Mobility Feb. 26, 2023
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