Articles by Cho Chung-un
Cho Chung-un
christory@heraldcorp.com-
Hyundai, Kia become third-largest SUV makers in H1
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. Facelifted Tucson unveiled in Aug seen during a test drive. (Hyundai Motor)About 15 million SUV units were sold i
Mobility Sept. 12, 2018
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Hyundai expands investment in new batteries, mobility services
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 of investors for the $20 million financing round also included the venture capital unit of Samsung Elect
Mobility Sept. 11, 2018
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Indonesian leader calls for partnerships on emerging technologies
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 President Joko Widodo at the Indonesia-Korea Business and Investment Forum at the Lotte Hotel in Seoul. “I call
Industry Sept. 10, 2018
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[Newsmaker] The war is on: Elliott reveals letters to Hyundai in apparent resumption of push for change
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 press and others, Elliott has decided to make the full contents of the letters publicly available in the i
Mobility Sept. 7, 2018
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Hyundai Motor uneasy about Elliott’s revived push
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 bans a company from discussing confidential information with a specific shareholder. (Herald DB)Elliott
Industry Sept. 7, 2018
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Finance Minister vows support for hydrogen technology development
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 Minister and Deputy Prime Minister Kim Dong-yeon (Yonhap)On a pending bill on the hydrogen economy, Kim sai
Industry Sept. 7, 2018
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Kumho Asiana chairman’s son named president of IT arm
Park Se-chang, the eldest son of Kumho Asiana Group Chairman Park Sam-koo, has been named president and CEO of its IT management arm, Asiana IDT, the company said Friday.Park replaces Han Chang-soo who has been chosen as president of Asiana Airlines, the nation’s second-largest air carrier and the core business of the group. Park Se-chang, president of Asiana IDT (left), Han Chang-soo, president of Asiana AirlinesSince joining the group in 2002, Park has served various posts within the group an
Industry Sept. 7, 2018
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Hyundai unveils facelifted Avante, aims to sell 120,000
Hyundai Motor unveiled an upgraded version of the sixth-generation Avante on Thursday, targeting young drivers looking for their first cars. The carmaker has set a sales target of 120,000 units by next year. The new compact car underwent a drastic change in its design with arrow-like triangular elements on the front and wheels.“The car will become a new standard in the global midsized sedan market, with a near-full design change, state-of-the-art safety features, enhanced performance and fuel ef
Mobility Sept. 6, 2018
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LG Hausys turns recycled plastic bottles into furniture film
LG Hausys, a housing material manufacturer, has developed adhesive furniture wrap from recycled plastic bottles in its latest effort to produce eco-friendly materials, the company said Monday.Furniture film is a finishing material applied to products with wooden, marble and metal surfaces. Furniture wrap made from recycled plastic bottles is displayed. (LG Hausys)The idea of turning recycled plastic bottles into furniture film had existed in the market, but manufacturers had failed to solve prob
Industry Sept. 3, 2018
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Han Sung Motor renews website for art scholarship program
Han Sung Motor, the largest dealer of Mercedes-Benz in South Korea, has revamped a website launched by the company to support art prodigies here, the company said Monday.The online platform for Han Sung’s Dream Gream project (www.dream-gream.co.kr) introduces artworks by aspiring artists.The renewed site shows how students develop their art skills through mentoring programs arranged by Han Sung Motor, officials said. The website also displays a collection of art pieces by professional artists an
Industry Sept. 3, 2018
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[Eye Plus] Time travel through Korea’s schools
To better understand the nation’s everlasting belief in the power of education, a small museum inside the hanok village of Bukchon, northern Seoul, offers a trip to South Korea’s schools of the past.Opened in 1995, the Seoul Education Museum holds a vast range of collections that show how the nation’s schools have evolved, as well as the lives of teenagers from the 1392-1910 Joseon era to present. From the textbooks on farming to classes in the 1960s and ‘70s with stoves in the middle where stud
Culture Aug. 30, 2018
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GS EPS acquires 10 percent stake in US gas power plant
A private power generator under GS Group has acquired a 10 percent stake in a US gas power plant in association with South Korean investors, the company said Thursday.GS EPS bought stakes held by two US funds, Ares EIF Management and Oaktree Capital Management.Under the contract jointly signed by Mirae Asset Daewoo and Hana Alternative Asset Management, GS EPS is to join the boardroom of Linden Cogeneration Complex, a 972 megawatt gas plant in Linden, New Jersey.This marks the first project inve
Industry Aug. 30, 2018
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Health care, mobility to take center stage in ASEAN region: experts
Southeast Asia is expected to see greater demand for health care services, for services that increase the mobility of its populations, and for entertainment, experts said Wednesday, attributing these trends to the rise of the middle class in the region and to its relatively young populations.At the ASEAN-Korea Business Forum in Singapore, Manoj Menon, the Asia-Pacific managing director of Frost and Sullivan, talked about the region’s significant market potential and said he saw a growing number
Industry Aug. 29, 2018
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Golfzon Newdin acquires Leadbetter Golf Academy
Golfzon Newdin, holding company of a leading indoor golf simulator franchise, has acquired 100 percent of shares in Leadbetter Golf Academy, a US-based institute founded by legendary golf coach David Leadbetter, the company said Wednesday.Launched in 1983, the academy operates 37 institutes in 13 countries around the world, with certified coaches trained by Leadbetter himself.By acquiring LGA, Golfzon Newdin will bring golf lessons into a new level by integrating the institute’s coaching knowhow
Industry Aug. 29, 2018
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LS Cable showcases thinnest high-voltage transmission cable
South Korean cable maker LS Cable showcased the thinnest 500-kilovolt power-transmission cable in the world at an annual exhibition in Paris, the company said Tuesday.The high-voltage underground cable is 5 percent thinner than existing products. Thinner cables add convenience both to the production and transportation processes, the company added.The International Council of Large Electric Systems hosted the event where the cable made its debut. (LS Cable)“The higher (the) power transmission is
Industry Aug. 28, 2018
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