Hyundai Motor on Monday launched the all-new Grandeur, the seventh-generation fully changed model of its top-selling midsize sedan, a comeback after six years with global sales set to begin in the second quarter next year. Since its debut in 1986, the Grandeur has been considered a luxury sedan here, widely chosen as the executive ride for local chaebol companies. The car's former cachet may ha...

“With its 800-volt architecture, the powerful electric motor of the latest generation and state-of-the-art battery and charge management, this model offers the E-Performance that is characteristic of Porsche,” said Janssen. “(Producing) high-volume models with high-tech standards, we are electrifying another important part of our portfolio.” Benefits of this purely electric platform include not...

Hyundai Motor Group Executive Chair Chung Euisun on Sunday urged global action to tackle climate change and energy poverty at the 2022 Business 20 summit of business groups and entrepreneurs that precedes the Group of 20 summit held on the Indonesia island of Bali from Tuesday. The B-20 is an official G-20 dialogue forum formed to facilitate a delivery of policy recommendations to the leaders to...

Hyundai Motor is once again betting big on the Chinese market, this time on commercial vehicles through a deal with a state-run international investment bank on Tuesday. The deal is part of a new strategy for the Korean carmaker, which is targeting the world’s largest market where foreign carmakers are struggling to expand the pie. According to Hyundai Motor, Hyundai Motor Group China signed a m...

Hyundai Glovis is entering the fast-growing recycling market for used electric vehicle batteries by developing a renewable energy complex and power grid models in Shinan-gun, South Jeolla Province, the company said Monday. Joining hands with Korea Hydro & Nuclear Power, Sinan County Office and LS Electric, the company will set up energy storage systems using used batteries next year to help the ...

South Korea's defense-to-energy conglomerate Hanwha Group is expected to complete on-site inspection on Daewoo Shipbuilding & Marine Engineering this month, with plans to finish the acquisition process within the first half of next year, industry sources said Monday. Hanwha began inspection on DSME last month, but had extended the original four-week long period to six weeks, citing its need to t...

The first iPhone, introduced in 2007, wowed markets around the world because it had everything that people wanted. The very first smartphone combined everyday features in one single palm-sized device, opening a new era for humanity to pursue technology-driven lives. The next revolutionary technology will be led by robots, according to the Korea Institute for Robot Industry Advancement (KIRIA) Pr...

Posco International said Tuesday that it clinched a partnership with Dutch hyperloop technology provider Hardt, with an aim to seek business opportunities in the global market for ultra high-speed, eco-friendly transportation system. Under the agreement, Posco International will work on securing a smooth supply of Posco-manufactured steel materials for hyperloop facilities in Europe, and work fu...

Naver said Monday it will inject 5.2 billion won ($3.6 million) over the next five years, along with Canadian social storytelling platform Wattpad which has become part of the company last year, to conduct joint research on AI-based content service platforms with the University of Toronto. South Korean internet giant said this study would allow application of advanced, exclusive technologies to ...

South Korea’s major business groups on Sunday offered condolences to victims and their families following an overnight crowd surge that killed more than 150 people celebrating Halloween in the bustling district of Itaewon in Seoul on Saturday, also calling for the reestablishment of the public safety system. The Korea Chamber of Commerce and Industry, the largest business lobby here, representin...

Hyundai Motor Group Executive Chair Chung Euisun visited Slovakia to request its support for South Korean port city Busan’s bid to host the World Expo in 2030, to the auto giant said Sunday. Chung visited Slovakia on the leg of his European trip to meet country leaders. He met with Czech Prime Minister Petr Fiala last week. Slovakia holds a significant status as the chair country of Visegrad Gr...

Hyundai Motor Group will launch promotional activities in Latin America to support South Korean port city Busan’s bid to host the 2030 World Expo, the carmaker said Thursday. According to the company, Hyundai Motor President and CEO Chang Jae-hoon will visit three Latin American countries – the Bahamas, Chile and Paraguay – and meet high-level government officials to explain Busan's competitiven...

Samsung Electronics chief Lee Jae-yong’s promotion to executive chairman on Thursday completes the generational power shift among South Korea’s four major chaebols. Lee, 54, is a third-generation chaebol scion, like Hyundai Motor's Chung Euisun who is two years younger. SK's Chey Tae-won is the eldest son of the group founder's brother, while LG's Koo Kwang-mor is a fourth-generation chaebol lea...

The South Korean defense industry sold over 21 trillion won ($14.7 billion) worth of defense systems and weapons to Poland this year, double that of Seoul's total defense exports in last year alone. The value of the deals clinched by top defense companies Hanwha Defense, Korea Aerospace Industries (KAI) and Hyundai Rotem this year was two times more than the $7.2 billion in weapons South Korea e...

"Hyundai and the people of Georgia share many qualities: respect for our histories, ingenuity, creativity, and determination to make the world better for the next generation," said Hyundai Motor Group Executive Chair Chung Euisun during the ground breaking ceremony held Tuesday local time. "Today, our EVs are recognized as best in class, and with this partnership, we are determined to be the glo...