Articles by Moon Joon-hyun
Moon Joon-hyun
mjh@heraldcorp.com-
[From the Scene] HD Hyundai Electric eyes W5tr sales target by 2030
ULSAN -- Right below the world’s biggest shipbuilder HD Hyundai Heavy Industries' shipyard in the southeastern industrial city of Ulsan, HD Hyundai Electric is gaining momentum in the energy sector with its advanced transformer manufacturing facility. The electrical equipment maker showcased its 500-kilovolt transformer production line on Wednesday, in which an investment of 80 billion won ($61 million) was made in 2020, during a period of declining profits and challenging market cond
Industry Nov. 9, 2023
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Doosan Bobcat to build $300m loader plant in Mexico
Korean construction equipment maker Doosan Bobcat said Wednesday it will build a production base worth $300 million in Monterrey, Mexico, situated close to the US-Mexico border, to boost supply chain efficiency and cater to the increased post-pandemic demand within North America. With operations expected to commence in early 2026, the new Monterrey plant is projected to increase Doosan Bobcat's loader production capacity in North America by 20 percent. Specifically, the 65,000 square meter
Industry Nov. 8, 2023
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Hyundai Mobis raises $940m in green loan for EV parts plants in US
Hyundai Mobis, a South Korean auto parts manufacturer, said Wednesday it has secured a $940 million green loan for the construction of electrification parts plants in North America, marking the company's first overseas foray into sustainable mobility financing. It finalized the funding from seven international financial institutions, leveraging a long-term 10-year maturity period and low-interest rates supported by a credit guarantee from the Korea Trade Insurance Corp. Such financing mecha
Industry Nov. 8, 2023
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SK Ecoplant to supply advanced fuel cells to Irish data center
South Korean energy and environmental solutions provider SK Ecoplant said Monday that it signed a partnership with Lumcloon Energy, an Irish power generation firm, to supply solid oxide fuel cells for a new data center in Castlestown, Ireland, marking a step toward greener energy utilization in European data centers. On Thursday, SK Ecoplant had a signing ceremony with Lumcloon Energy to integrate fuel cell technology for a new data center located approximately 80 kilometers west of Dublin. This
Industry Nov. 6, 2023
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LG Electronics opens Alaskan lab to develop HVAC tech in extreme weather
LG Electronics announced Monday that it has launched a research facility in Alaska to enhance the resilience of modern heating and cooling systems, collectively known as HVAC systems, in extremely cold conditions. The LG Advanced Cold Climate Heat Pump Laboratory is part of a collaboration that includes the University of Alaska Anchorage and the University of Alaska Fairbanks. The partnership, made official on Monday as the Consortium for Advanced Heat-pump Research, will tackle the challenge of
Industry Nov. 6, 2023
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World Cup in Saudi Arabia sparks human rights protest
The appointment of Saudi Arabia as the host for the 2034 FIFA World Cup has elicited a backlash from multiple human rights groups over the nation's contentious rights record, coming just weeks before the final decision on its bid for the World Expo 2030. FIFA President Gianni Infantino confirmed the host as the only bidder last Tuesday after Australia withdrew its bid hours before the Tuesday deadline. Critics are primarily concerned about the potential exploitation of migrant workers who w
Economy Nov. 5, 2023
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LG Energy Solution debuts new battery-based EV financing
South Korea’s top battery maker LG Energy Solution said Wednesday it is partnering with financial service provider Hyundai Capital to launch a new financing product for electric vehicle drivers called Battery Lifecare, offering incentives based on battery life. Battery Lifecare, an industry first, is designed to benefit those leasing or renting EVs from Hyundai Motor Group, including Hyundai’s Ioniq 5 and Ioniq 6, Kia's EV6 and the Genesis GV60. By offering better trade-in value
Industry Nov. 1, 2023
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KT unveils large language model Mi:dm for corporate customization
South Korean telecommunications giant KT Corp. on Tuesday unveiled Mi:dm, a customizable large language model aimed at corporate clients looking to develop their own advanced AI services in the booming field of generative AI technologies. The name Mi:dm is based on the word "mideum," which means "belief" in Korean. Unlike generic models such as OpenAI's GPT, KT posits that Mi:dm allows companies to incorporate their own specialized datasets to produce tailor-made AI prod
Technology Oct. 31, 2023
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Posco faces first-ever pay strike risk
South Korean steel giant Posco faces the threat of a strike -- the first in its 55 years of history -- after months of wage talks between management and the company's labor union failed to reach an agreement. In a vote held over the weekend, nearly 80 percent of Posco's unionized workers voted in favor of a strike, marking the first time a Posco union has approved a strike since the firm’s establishment in 1968. Of the 11,145 union members, 10,756 people, or 96.51 percent, partic
Industry Oct. 30, 2023
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Meta fails to provide communication channel in Korea: lawmaker
Meta Platforms has failed to provide a proper channel for communication to uphold its legal responsibilities in Korea, a lawmaker claimed Friday, citing data provided by the Ministry of Science and ICT. The Science Ministry lacks basic contact details for Meta Communication Agent Limited, which refers to Meta's legal entity that is supposed to serve as a communication channel with Korean authorities. The only available means of contact to the agent is an automated landline that redirects ca
Technology Oct. 27, 2023
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Hyundai partners with Saudi firms to build hydrogen mobility ecosystem
Hyundai Motor Company said Monday that it is set to launch a hydrogen mobility ecosystem in Saudi Arabia, in step with the kingdom's pivot away from its traditional oil-centric economy. Upon President Yoon Suk Yeol's state visit to the Middle East, the Korean carmaker signed a memorandum of understanding on Sunday in Riyadh with three entities -- Air Products Qudra, a joint venture between Sau Air Products and Qudra Energy; SAPTCO, a Saudi public bus company; and the Korea Automotive T
Industry Oct. 23, 2023
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Hyundai Motor to build 1st car plant in Saudi Arabia, leading 46 Korea-Saudi deals
Hyundai Motor Group announced Monday it has entered into a joint venture agreement with Saudi Arabia's Public Investment Fund (PIF) to construct its first-ever automobile assembly plant in Saudi Arabia and expand its presence in the Middle Eastern market. This announcement came as part of a broader initiative that saw 46 memorandums of understanding and joint partnerships signed between South Korean companies and Saudi Arabian counterparts during President Yoon Suk Yeol's state visit t
Industry Oct. 23, 2023
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[From the Scene] LS Cable's extensive undersea cable facility taps global demand
LS Cable & System, South Korea's leading cable manufacturer, showcased last Thursday its extensive line of undersea cable production facilities at its Donghae plant in Gangwon Province, aiming to more than double its yearly sales from undersea cables to 1 trillion won ($740 million) over the next five years, tapping into the global surge in demand for energy and power grids. The plant is Asia's most expansive undersea cable production base. A gangway that resembles a train track co
Industry Oct. 22, 2023
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[Weekender] Indie bookstores thrive in reading-reluctant Korea
Despite consistently falling reader engagement, independent bookstores are surviving -- and even thriving -- in South Korea. "Over the last decade, we've seen a pretty sharp drop in the number of people picking up at least one book a year – down from 72.2 percent in 2013 to just 46.9 percent in 2021. But when you consider all the different ways people can get their info these days, maybe that's not quite the disaster it seems," said Baek Won-geun, the brain behind 15 of
Consumer Oct. 21, 2023
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LIG Nex1 seals global defense ties at Seoul ADEX 2023
South Korean missile defense systems provider LIG Nex1 said Wednesday it had inked a series of collaborative ties with several global defense and aerospace leaders at the Seoul International Aerospace and Defense Exhibition, or Seoul ADEX 2023. The agreements are intended to bolster the company's international presence and spur innovation in missile technology, avionics and space exploration. During the Seoul ADEX held from Tuesday to Sunday, LIG Nex1 is showcasing a slew of innovations. No
Industry Oct. 18, 2023
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