Articles by Moon Joon-hyun
Moon Joon-hyun
mjh@heraldcorp.com-
LG Energy Solution lands major LFP battery deal with Renault
LG Energy Solution, South Korea's largest electric vehicle battery maker, has secured its first major order for lithium-iron-phosphate batteries from French auto giant Renault Group's EV unit Ampere. The contract, announced in Paris on Monday, will see LG Energy Solution supplying pouch LFP batteries for Renault’s next-generation electric vehicles over five years, from late 2025 to 2030. It involves producing about 39 gigawatt-hours of batteries, enough to power approximately 5
Mobility July 2, 2024
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Porsche previews Macan Electric in Korea, arriving later this year
Porsche Korea previewed the brand's first all-electric sport utility vehicle, the Macan Electric, in Korea during a media event at Porsche Studio Songpa in southeastern Seoul on Monday. “We are thrilled to announce that the all-electric Macan will be arriving in Korea later this year. It encapsulates the classic Porsche sports car experience in an electric SUV format with extensive range and practicality for the everyday driver,” said Holger Gerrmann, CEO of Porsche Korea at the
Mobility June 26, 2024
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Why firefighters struggled to put out the battery blaze
Fire accidents involving lithium batteries, like the one at Korean lithium battery manufacturer Aricell's facility, are challenging to extinguish due to the batteries’ potential for water to exacerbate the situation. Primary, or single-use, lithium batteries differ from more commonly known lithium-ion batteries in several fundamental ways. They use lithium metal or lithium compounds as the anode and are ready-charged and non-rechargeable. While they do not suffer from issues like th
Social Affairs June 24, 2024
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LS Cable to power NextStar battery plant in Canada
LS Cable & System, one of the world’s leading cable manufacturers, said Monday that it will provide high-capacity power distribution bus ducts for NextStar Energy’s new battery plant in the Canadian province of Ontario. NextStar Energy, a partnership between LG Energy Solution and Stellantis, is building a large electric vehicle battery factory in Windsor, Ontario. Bus ducts are metal-enclosed systems that house conductive plates to efficiently distribute high-capacity electric
Mobility June 24, 2024
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Hanwha acquires Philly Shipyard, first Korean entry into US shipbuilding
South Korean conglomerate Hanwha Group has acquired Philly Shipyard for $100 million, making it the first Korean company to enter the US shipbuilding industry. Announced on Friday, the acquisition involves Hanwha Systems holding a 60 percent stake and Hanwha Ocean a 40 percent stake. These subsidiaries specialize in defense and shipbuilding, respectively. Philly Shipyard, located in Philadelphia, constructs commercial vessels in compliance with the Jones Act, which mandates that goods transpor
Industry June 21, 2024
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Hanwha Qcells wins largest community solar deal in US
Hanwha Qcells, the solar energy division of Korean energy company Hanwha Solutions, has signed a significant agreement with US commercial solar developer Summit Ridge Energy to supply 2 gigawatts of solar modules by 2027 for community solar projects and collaborate on energy storage systems. This new agreement marks the largest community solar partnership in US history, building on a previous 1.2 GW partnership announced in April last year when US Vice President Kamala Harris visited Hanwha Qc
Industry June 21, 2024
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Korean equipment makers target booming infrastructure markets
South Korea’s construction equipment trio -- HD Hyundai Construction Equipment, HD Hyundai Infracore and Doosan Bobcat -- are ramping up their efforts to penetrate emerging markets. While North America and Europe continue to be major revenue sources, they are investing more in local production and distribution networks of high-growth countries such as India, Brazil and Mexico, where infrastructure development is booming and demand for relatively larger construction machinery is surging.
Industry June 20, 2024
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Hyundai to start Georgia EV plant, unlocking IRA benefits
Hyundai Motor Group Metaplant America, Hyundai Motor Group’s new electric vehicle plant in Georgia, will begin production later this year, allowing the automaker to leverage the Inflation Reduction Act benefits to better compete in the US EV market. Hyundai announced Wednesday that the inaugural model to be produced at the Georgia plant will be the 2025 Ioniq 5. This launch, set for the fourth quarter, marks Hyundai’s first official statement on the operational timeline and specifi
Mobility June 20, 2024
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Energy storage tech of LG, Samsung shines at Interbattery Europe
LG Energy Solution and Samsung SDI, two of Korea's leading battery manufacturers, are showcasing their latest energy storage solutions at Interbattery Europe 2024 in Munich, Germany, from Wednesday to Friday this week. The two firms are presenting a range of advanced products designed to meet the growing demand for energy storage systems in Europe and beyond due to the increasing reliance on renewable energy sources. An energy storage system is a large-scale setup designed to store and mana
Industry June 19, 2024
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HD Hyundai launches first of two corvettes for Philippine Navy
HD Hyundai Heavy Industries has launched the Miguel Malvar, the first of two corvettes ordered by the Philippine Navy in 2021. A corvette is the smallest type of warship used for coastal patrols, surveillance and escort duties. The Miguel Malvar is scheduled for delivery to the Philippine Navy by 2025 after commissioning and final outfitting. The christening ceremony for the 3,200-ton vessel was held at HD Hyundai Heavy Industries’ Ulsan headquarters on Tuesday. The event saw attendance fr
Industry June 18, 2024
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North Korea claims its own EV brand with improbable 720km range
North Korea is making bold claims about importing and selling its own brand of electric vehicles with an improbable maximum range of 720 kilometers, drawing skepticism and curiosity from South Korean and international observers alike. Last Friday, a video titled "Madusan Economic Federation" was posted on the YouTube channel "Paektu TV From Paektu to Halla," which shares content purportedly from North Korean media. Paektu Mountain, also known as Baekdu Mountain, is an active
Mobility June 17, 2024
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Hyundai Motor India files for record $3b IPO
Hyundai Motor India has officially submitted an initial public offering application to the Securities and Exchange Board of India to raise approximately $3 billion, potentially setting a record as the largest IPO in the country’s history. On Monday, Hyundai confirmed in a corporate disclosure that it has submitted a Draft Red Herring Prospectus to SEBI, initiating the IPO process for Hyundai Motor India Ltd., its local subsidiary. It marks a significant step in expanding both Hyundai&rsquo
Mobility June 17, 2024
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HD Hyundai marks Veterans Month with gravesite cleanups
HD Hyundai organized gravesite cleanup services at Seoul National Cemetery and Yeongcheon National Cemetery in North Gyeongsang Province to honor the Korean Patriots and Veterans Month of June. A total of 140 employees participated in these volunteer services on June 14 and May 24. They began by paying respects to individuals of national merit followed by weeding, planting flowers, polishing tombstones and maintaining flags. In South Korea, individuals of national merit are recognized for signif
Companies June 16, 2024
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Hyundai Rotem wins bullet-train export deal from Uzbekistan
For the first time, a Korean high-speed rail vehicle will be deployed internationally, with Uzbekistan as the destination. Hyundai Rotem announced Friday that it has secured a 270 billion won ($194 million) contract to supply and maintain power-distributed high-speed trains for Uzbek Railways in collaboration with the Korea Railroad Corporation. Hyundai Rotem is a Korean rail transport manufacturer that pioneered the nation’s first high-speed rail system, the Korea Train Express, in 2004.
Industry June 16, 2024
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[KH explains] Why Korean battery companies are key to Tesla's 2170 upgrade strategy
South Korean battery material companies are emerging as key players in Tesla's revamped supply chain as the carmaker upgrades its 2170 battery cells -- integral to its most popular models. Tesla's initiative to enhance battery performance centers on upgrading the anode and cathode materials, which are critical for improving energy density and charging speeds. The anode, which determines how much energy the battery can store, directly impacts the driving range of electric vehicles. Mean
Mobility June 16, 2024
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