Hyundai Motor Group’s luxury Genesis G90, which is set to hit the market in the fourth quarter this year, will feature level 3 autonomous driving with a maximum speed limit of 60 kilometers per hour. According to industry sources Sunday, the Korean auto giant has recently decided to lower the speed limit of the new system in line with international standards set by the UN Economic Commission for...

South Korea’s manufacturing and retail conglomerates released a combined 115 trillion won ($90 billion) investment plan on Thursday to achieve low-carbon digital transformation and create new jobs, joining a relay of announcements heralding a business-friendly new administration. Steelmaking giant Posco Group said it would invest 53 trillion won to pursue eco-friendly steelmaking by deploying el...

Hyundai Motor Group on Thursday unveiled its vision for a human-focused future mobility ecosystem and related platforms at the World Economic Forum in Davos, Switzerland. The Korean carmaker said its president and Chief Innovation Officer Chi Young-cho presented the necessity of global collaboration for the future of the automotive industry as well as the need to establish a human-focused mobili...

Hyundai Steel said Thursday that it has set up its new and unique steel production system using an electric furnace called Hy-Cube, with a goal to produce low-carbon, high-quality steel products toward 2030. Hy-Cube refers to Hy3 or Hyundai Hydrogen Hybrid, a process of melting raw iron material to remove impurities when adding new components by using a new electric furnace concept called Hy-Arc...

South Korean steelmaking giant Posco said Wednesday that its high manganese steel which withstands extremely low temperatures has received technical approval from global energy firm ExxonMobil for usage in LNG storage tanks. The two firms joined in a technical partnership in 2020 to expand the use of high manganese steel which Posco succeeded in mass-producing for the first time in the world. H...

Hyundai Motor Group unveiled Tuesday another set of mega investment plans, this time focusing on the local market. Introducing a 63 trillion won ($52.6 billion) plan, the automaker said it would work with its subsidiaries Kia and Hyundai Mobis to turn Korea into a hub of its future mobility business. The investment will be implemented over the next three years. According to the automaker, which ...

Energy-to-defense giant Hanwha Group unveiled Tuesday an investment plan of 37.6 trillion won ($29.7 billion) into the energy, carbon neutrality, defense and aerospace sectors over the next five years. Under such investment plan, the group expects to create some 20,000 new jobs. The group said some 20 trillion won will be injected into its business operations in Korea. This is equivalent to the...

Hyundai Motor Group and Microsoft Korea have collaborated to make a “digital twin” of the Ioniq 5 to accurately analyze performance of the battery that is critical for electric vehicles. According to the automaker, the digital twin works by making an identical product of a device on a virtual platform so it can experiment with artificial intelligence, machine learning and data analysis models by...

South Korean robotics maker Rainbow Robotics said Monday that it recorded 3.6 billion won ($2.8 million) in sales in the first quarter this year, up 182 percent on-year. The Korean robot maker said the local market’s demand for collaborative robots that work with humans has pulled up its sales, as well as increased exports of its device that tracks certain targets with accuracy to the global mar...

South Korean carmaker Hyundai Motor Group announced the second round of its investment plan Sunday, adding another $5 billion to collaborate with US firms, only a day after the company unveiled a $5.54 billion plan to build an electric vehicle-only factory in Georgia. “Hyundai Motor Group plans to invest an additional $5 billion through 2025 which will strengthen our collaboration with American ...

An explosion at an S-Oil refinery in Ulsan, some 400 kilometers southeast of Seoul, left one person dead and nine others injured, firefighters said Friday. Firefighters were notified of an explosion at the S-Oil refinery at 8:52 p.m. on Thursday. The injured workers were transported to a hospital nearby. While the exact cause has yet to be determined, fire authorities said the accident occurred...

Hyundai Glovis, a supply chain management arm under Hyundai Motor Group, said Thursday that it has launched an overseas corporation in Bangkok, as part of its business expansion strategy in the Southeast Asian market. Hyundai Glovis Logistics Thailand, a joint venture that has been formed with local auto parts manufacturers and logistics firms, will be responsible for creating synergy with its e...

To honor the United Nation’s World Bee Day, Hanwha Group said Thursday that it has created the country’s first solar beehive which has been designed with a photovoltaic low-carbon structure that uses electricity generated through solar panel. Hanwha Group said it has installed the solar beehive at the Korea National University of Agriculture and Fisheries (KNUAF) as a part of its pilot program. ...

As part of its PBV strategy, Kia said in March that it will produce the 1-liter Ray mini car and the Niro hybrid model for delivery or taxi purposes. The new production lineup in Hwaseong will commercialize a mid-sized vehicle built on PBV platform called eS, instead, in 2025. The construction of Kia’s PBV plant spanning over 20,000 square meters of land will kick off in the first half of 2023....

Consumer criticisms are mounting as the country’s finished carmakers are unable to meet the delivery deadline due to ongoing supply shortages globally, as well as obligating customers to pay more to get the latest edition models. As carmakers like Hyundai Motor stops manufacturing the older version of vehicle when they release the new edition in the new year, customers having to wait more than a...