Coupang’s Rocket Delivery has surpassed 1 billion deliveries four years after the South Korean e-commerce firm started the end-to-end service, the company said Thursday. To bring innovation to the e-commerce market, the company has built its own logistics center and hired deliverymen to handle the entire process from product purchase to door-to-door delivery. The speed of the service is key so c...

Hyundai Motor will supply 1,000 hydrogen-powered fuel cell trucks to Europe over the next five years, making its debut on the continent’s green commercial vehicle market, the company said Thursday. The South Korean carmaker signed a memorandum of understanding with Swiss hydrogen company H2 Energy at the trade show IAA Commercial Vehicles 2018 held in Hanover. H2 Energy Chairman Rolf Huber (sec...

The leaders of the two Koreas agreed Wednesday to hold a groundbreaking ceremony to link roads and railways within the year, in a move affirming willingness to resume business cooperation “to develop the nation’s economy in a balanced manner” on the Korean Peninsula. The two sides also agreed to normalize stalled operations of the Kaesong industrial park and the Kumgangsan tour program “as condi...

South Korea will become a global logistics hub benefitting giants in the industry here if a railway project aimed at reconnecting the South and the North is realized, experts at a forum in Seoul on Tuesday. “Strained ties between the South and the North have blocked the (international) logistics flow. But if the inter-Korean railway is reconnected all the way to Busan, neighboring countries will...

The speed of technology has already overtaken the human ability to act and think, but the domain of feelings remains unaffected, suggesting that emotional interpretation will become the essential task of people in general, businesses and governments in the future, said Lee Dae-hyung, a renowned curator, at a forum in Seoul on Friday. “The world is changing so fast and it is no longer important t...

Hyundai Motor Group Chairman Chung Mong-koo promoted his son Chung Eui-sun to executive vice chairman, a new position created to assist his father, the company said Friday. The heir to the world’s fifth-largest carmaker has worked as the vice chairman of Hyundai Motor Corp. so far. The promotion will give him authority to oversee the entire operation of the Hyundai Motor Group, of which Hyundai ...

After a brief compromise, unionized laborers of GM Korea said they oppose the company’s decision to relocate an executive previously in charge of laying off workers at its Gunsan factory that shut down in May to its headquarters. GM Korea has named Lee Dong-woo, senior vice president who headed overall operations of the Gunsan factory, as the head of the Bupyeong manufacturing site. The unionize...

Hydrogen can speed up the evolution of digital technologies and is a reliable source of energy that can tackle climate change, said CEOs from global companies that gathered for an annual forum on the alternative energy on Thursday. “Together, we can deliver concrete solutions while ensuring a sustainable future. We believe hydrogen is key to power the digital revolution,” said Benoit Potier, CEO...

The Korea Herald is publishing a series of articles on South Korea’s latest measures, hurdles and the market drive for hydrogen economy. This is the fourth installment. -- Ed. Hydrogen technology, which aims to replace the use of fossil fuels, would not only benefits carmakers, but also other traditional industrial players such as shipbuilders, the head of H2Korea said in a recent interview with...

Hyundai Motor and its sister company Kia Motors were the third-largest sport utility vehicle makers in the first half of the year, a survey showed Wednesday. According to the UK market research firm Jato Dynamics, combined SUV sales by the two companies accounted for 8.2 percent of total global sales of SUVs, a 1.2 percentage point increase from 7 percent in the same period last year. Facelifte...

Hyundai Motor is investing in foreign startups in the US that develop solid-state batteries and mobility services, as part of its investment in future technologies, according to news reports. The South Korean carmaker was among a list of investors in the Series A funding round arranged by Solid Power, a Colorado-based solid-state battery cells maker, according to Bloomberg on Tuesday. The list o...

Calling South Korea an “old friend,” Indonesia’s leader on Monday urged its tech companies to partner with the Southeast Asian country to develop the emerging technologies that are set to lead the fourth Industrial Revolution. "Korean companies such as Samsung and LG played a big role in bringing the smartphone revolution to developing countries, including to Indonesia,” said Indonesian Presiden...

Elliott Advisors, the Hong Kong arm of Elliott Management, on Friday afternoon released letters it had sent a month earlier to directors of Hyundai Mobis, Hyundai Motor Company and Kia Motors. The recent move is a response to news reports full of speculation that the US hedge fund leaked excerpts of its letters to the media. “Because portions of these letters were selectively provided to the pre...

Hyundai Motor Group couldn’t help but express displeasure toward a letter from US hedge fund Elliott, saying that its proposal is not helping the company improve its governance structure, and also breaches the nation’s capital market law. The world’s fifth-largest carmaker said that it has declined Elliott’s offer of establishing a corporate governance committee, stressing that the law strictly ...

Finance Minister and Deputy Prime Minister Kim Dong-yeon said Friday that the government would support companies developing technologies to realize a hydrogen economy. In a meeting with local developers of hydrogen technology, Kim said the government would step up efforts to build hydrogen production facilities and develop related technologies such as hydrogen storage and transport. Finance Min...