SK Innovation, with its subsidiary SK IE Technology and researchers from Yonsei University, has developed a next-generation technology designed to capture carbon emissions more efficiently and at a lower cost. This breakthrough could have significant implications for the biggest carbon-emitting industries, such as power plants, steel mills and cement factories. The research, a collaboration between the SK Innovation Institute of Environmental Science and Technology, SKIET’s R&D Center,

Industry Oct. 1, 2024

Hyundai Motor Group has partnered with Saudi Arabia’s Misk Foundation to develop young local talent and explore collaboration in smart city development. The two organizations signed a memorandum of understanding on Monday in the Saudi capital Riyadh, with the agreement formalized by Lee Jae-yong, head of smart city development at Hyundai’s Global Strategy Office, and Badr Hamoud Albadr, CEO of the Misk Foundation. The Misk Foundation, established in 2011 by Saudi Crown Prince Mohamme

Companies Oct. 1, 2024

Hyundai Motor Company and General Motors seem like very different automakers. One is a South Korean juggernaut known for its efficiency and clean design, while the other is a symbol of American muscle, built on a century of dominance in trucks and sport utility vehicles. Yet earlier this month, these two giants signed a sweeping partnership. “In a time of intense competition from Tesla and an ever-growing Chinese EV threat, Hyundai and GM are probably betting that their combined strengths

Mobility Sept. 30, 2024

LG Energy Solution has been recognized in China for delivering the most high-quality electric vehicle batteries by the 2024 China Automotive Quality Research Awards, surpassing local manufacturers CATL and BYD in this category. The award ceremony, held in Beijing on Tuesday, was organized by Chinese automotive media platform CheZhiWang and Car Research Consulting Beijing, a Chinese automotive think tank established in 2017. The awards were based on consumer surveys, evaluating 128 vehicle models

Mobility Sept. 27, 2024

Posco Future M and General Motors have pushed back the completion of their cathode material plant in Canada, which is part of their joint venture, Ultium CAM. Originally scheduled to be finished by the end of this month, the plant’s completion has now been delayed to a yet-to-be-determined date. Posco Future M announced the delay on Friday, citing "local conditions" without providing specific details. The plant, located in Becancour, Quebec, is set to produce high-nickel cathode

Mobility Sept. 27, 2024

SK On, the battery manufacturing subsidiary of SK Group, has announced the launch of a voluntary retirement program as part of its efforts to enhance workforce efficiency and to turn a profit by the end of this year. In a statement released Thursday, SK On outlined two key initiatives: a special leave program aimed at fostering employee development and a voluntary departure program for workers considering early retirement. These measures come as the company navigates a slowdown in the EV industr

Companies Sept. 26, 2024

Egypt's Ambassador to Korea, Khaled Abdelrahman, highlighted the growing potential for collaboration between Egypt and South Korea, particularly in investment and tourism, during the second session of the Global Business Forum Wednesday. Hosted by The Korea Herald, the forum seeks to facilitate knowledge exchange and build networks among Korean business and academic leaders to address the challenges posed by technological advancements and societal shifts. The GBF commenced its sixth edition

Economy Sept. 26, 2024

The H2 MEET 2024, a major global exhibition on hydrogen technology held in South Korea, kicked off Wednesday at Kintex in Goyang, Gyeonggi Province, to showcase the latest innovations in hydrogen technology, including key contributions from Hyundai Motor Group. This year’s exhibition runs for three days and is the largest in the event’s five-year history, bringing together 317 companies and organizations from 24 countries. “This is a great opportunity to showcase Korean innovat

Industry Sept. 25, 2024

Starting in the second half of 2026, the US will ban the sale of connected cars using Chinese-made software, with further restrictions on hardware to begin in 2029, a move that will pressure global automakers, including South Korea’s Hyundai Motor and Kia, to diversify their supply chains. On Monday, the US Department of Commerce’s Bureau of Industry and Security announced a proposed rule that would prohibit the sale and import of connected vehicles containing Chinese or Russian soft

Mobility Sept. 24, 2024

SK On will begin mass production of electric vehicle batteries for Hyundai Motor Co. in the US next month, a move expected to help the battery maker turn a profit for the first time after years of losses. The company’s US unit, SK Battery America, will reportedly begin partial production at its Georgia Plant 2, supplying batteries for Hyundai’s new EV production facility, Hyundai Motor Group Metaplant America, also located in Georgia. According to industry sources on Monday, SK On ha

Mobility Sept. 23, 2024

Nexon, the developer behind popular soccer video games FC Online and FC Mobile, said Monday it will host a real-life exhibition match featuring retired soccer legends, including Didier Drogba, Kaka and Rio Ferdinand, at Seoul World Cup Stadium on Oct. 19 and 20. The Icon Match is a collaboration between Nexon and the Korean soccer YouTube channel Shoot for Love. It will showcase former star players featured in Nexon’s games as part of the Icon Class -- a collection of legendary soccer play

Soccer Sept. 23, 2024

Hyundai Motor Group's Executive Chairman Chung Euisun visited the company’s Czech manufacturing plant last Thursday to assess Hyundai’s European operations as part of a state trip with South Korean President Yoon Seok Yeol. During the trip, Hyundai Motor Group also signed several memorandums of understanding with Czech companies and universities to collaborate on future mobility initiatives, including hydrogen energy and advanced automotive technologies. This was part of a large

Mobility Sept. 22, 2024

Electric vehicle owners in South Korea’s crowded apartment complexes are beginning to feel like social outcasts. “In my apartment, EV users are sometimes treated like criminals,” said Lee Ho-deok, an EV owner living in a large apartment complex in Seoul’s Mapo district, when describing the tense atmosphere. In a city where over 85 percent of the population lives in multi-unit housing, apartment residents already contend with longstanding issues like noise between floors.

Mobility Sept. 22, 2024

Hyundai Glovis, South Korea's sole provider of pure car and truck carriers, is expected to increase its global presence as charter rates for automobile-carrying vessels continue to remain high due to a persistent shortage of ships in the global maritime transportation market. According to data from Clarksons Research on Thursday, a UK-based shipping market analysis firm, the average daily charter rate for a 6,500-Car Equivalent Unit (CEU) carrier in the third quarter of this year reached ap

Industry Sept. 19, 2024

Kia is showing signs of recovery in China, recording more than 20,000 units in monthly sales for three consecutive months from June to August. If this momentum continues, the company is on track to reach or surpass its goal of selling over 200,000 units in China by the end of the year. Kia’s recovery is primarily driven by two factors: the introduction of new, market-specific models and an expansion of its export operations. According to Kia’s Chinese joint venture, Jiangsu Yueda Kia

Mobility Sept. 17, 2024