Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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[Music in drama] Rekindle a love that slipped through your fingers
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Ex-pro baseball player who killed debtor appeals sentence
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Hopes rise for possible Gaza truce deal
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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[Herald Interview] Kona Electric comes back stronger, cheaper
Hyundai Motor’s all-electric compact sport utility vehicle Kona has returned to the market after a yearslong hiatus. Its first-generation model was suspended in 2019 following a series of battery fires, leading to a 1.4 trillion won ($1 billion) recall of some 80,000 vehicles. For the vehicle's second generation, dubbed the All New Kona Electric, the carmaker has teamed up with Chinese battery giant CATL to enhance safety while minimizing price hikes, according to Hyundai’s prod
April 30, 2023
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[Photo News] Hyundai chair at Yoon’s US Congress speech
Hyundai Motor Group Executive Chair Chung Euisun (second from right in second row) was spotted during President Yoon Suk Yeol’s address to a joint meeting of the US Congress, celebrating the 70th anniversary of the bilateral alliance at the House Chamber of the US Capitol, Washington, D.C., on Thursday. Chung and top executives including Hyundai Motor Group CEO Chang Jae-hoon and Jose Munoz, president and CEO of Hyundai and Genesis Motor North America, had reportedly signed up to make sure
April 28, 2023
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Korea Exchange to resume trading of KG Mobility shares
South Korea's main bourse operator decided Thursday to keep KG Mobility, formerly known as SsangYong Motor, listed on the market. SsangYong's shares have been suspended since December 2020, when the carmaker filed for a court receivership. The court receivership procedure was completed in November last year, after KG Group decided to acquire SsangYong. The company was later renamed KG Mobility. The Korea Exchange conducted an eligibility review Thursday and decided to keep the compan
April 27, 2023
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Hyundai, Kia likely to outpace Toyota in Q1 earnings for 1st time
Hyundai Motor Group is highly likely to outpace Toyota in first quarter earnings this year for the first time, according to industry estimates on Wednesday. The South Korean auto giant’s Hyundai and Kia brands posted a combined 6.5 trillion won ($4.8 billion) in operating profits in the first three months of this year. It is a record figure for the carmaker, exceeding the estimated 5.98 trillion won of operating profits of its archrival Toyota, the world’s No. 1 carmaker in terms of
April 26, 2023
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Korean battery makers bolster EV alliance in US to tackle IRA
South Korean battery and automakers are shelling out big funds to set up joint ventures for electric vehicle batteries in the US in response to the protectionist Inflation Reduction Act, industry sources said Wednesday. Samsung SDI announced Tuesday it is poised to build a joint venture with General Motors in the US. Details of the deal including the location were not made available. Under $3 billion investment, the plant will have an annual production capacity of 30 gigawatt-hours, supplying
April 26, 2023
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Renault’s QM6 combines perks of SUVs and sedans
Renault Korea’s new QM6 SUV is more than just your typical SUV -- it is also equipped with the much-loved perks of a sedan. SUVs are usually known to offer a less comfortable riding experience compared to sedans due to the bigger tires causing higher road impact. With an improved power train, reduced noise, an upgraded exterior and additional convenience features, Renault’s QM6 presents a solution to this issue by keeping the performance and capabilities of an SUV while incorporating
April 26, 2023
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[Photo News] New Mercedes E-Class
Mercedes-Benz unveiled the new E-Class in a digital world premiere on Tuesday. The new E-Class underwent a full change for the first time in seven years to feature advanced personalization and digitalization functions. The luxury midrange sedan is expected to go on sale early next year in South Korea.
April 26, 2023
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Hyundai Motor outpaces Samsung in quarterly earnings for 1st time
Hyundai Motor, the flagship unit of Hyundai Motor Group, said Tuesday it posted record operating profits of 3.6 trillion won ($2.7 billion) in the first three months of this year, outpacing Samsung Electronics in quarterly earnings for the first time. The auto giant reported surprising earnings in the first quarter, with operating profits jumping up 86.3 percent on-year. During the same period, Samsung Electronics posted 600 billion won in operating profits. It is the first time that Hyundai
April 25, 2023
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LG Energy Solution to set up W600b advanced production line at Ochang plant
LG Energy Solution said Tuesday it will set up an advanced production line at its Ochang plant in a bid to supply more certified battery prototypes to global electric carmakers. Under a 600 billion won ($450.7 million) investment, the battery maker plans to build what it calls a “mother" production line, where a battery cell prototype can be mass-produced, in its Ochang plant located in Cheongju, North Chungcheong Province. The existing pilot line manufactures such prototypes but do
April 25, 2023
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EcoPro to build cathode plant in Hungary
South Korean battery materials firm EcoPro said Monday it is poised to build a cathode manufacturing plant in Hungary, seeking to establish its footing in the burgeoning European electric car market. Under the 382.7 billion won ($287.2 million) investment, the company plans to produce 108,000 tons of cathodes annually, capable of supplying some 1.35 million electric vehicles. The plant is set to start production in 2025 after completing construction next year. EcoPro’s subsidiaries lin
April 24, 2023
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Hyundai Mobis seeks bigger presence in global markets
Hyundai Mobis, a car parts maker affiliated with Hyundai Motor Group, said Monday it reached a total of $46.5 billion in overseas orders last year, a record figure that nearly doubled on-year. Its unique sales strategy, among other things, has proved effective in appealing to global carmakers, the company said. Hyundai Mobis currently operates sales units in its key production bases globally and the extensive global network now helps it secure a footing in the burgeoning parts market for electri
April 24, 2023
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Hankook Tire speeds up Chinese expansion
Hankook Tire & Technology said Monday that the South Korean tire maker inked a supply contract with Chinese all-electric vehicle manufacturer Leapmotor, expanding the company’s presence in one of the world’s biggest EV markets. According to the Korean company’s announcement, Leapmotor’s sports utility vehicle C11 will be equipped with Hankook Tire’s Ventus S1 evo3 ev, a high-performance tire specifically designed for EVs. The EV-tailored tire offers optimized fu
April 24, 2023
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Hyundai Mobis to simplify parking with 90-degree four-wheel steering
Hyundai Mobis, a car parts maker affiliated with Hyundai Motor Group, said Sunday it has succeeded in demonstrating its upcoming self-driving technology, called e-Corner System, on public roads for the first time. The technology incorporates in-wheel motors, rotational steering and electronic braking in one module installed in the car wheels – the first of its kind globally. In a video unveiled by the company, Hyundai’s Ioniq 5, equipped with the module, completed tricky parking an
April 23, 2023
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[Photo News] Kia at Milan Design Week
Karim Habib, Kia Corp.’s global head of design, looks around the carmaker’s exhibition booth themed “Opposites United” at the Milan Design Week 2023 in Italy, Friday. Kia was the only carmaker among the 12 finalists to be nominated for the Fuorisalone Award, a top prize given during the annual furnishing and design fair.
April 23, 2023
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[Test drive] Porsche can make your heart beat faster
Ferry Porsche gave birth to the Porsche 356 ‘No. 1’ Roadster with his team in 1948, breathing life into his dream of the ideal sports car and marking the beginning of one of the most recognized auto brands in the world. The founder of Porsche said, “In the beginning, I looked around and could not find quite the car I dreamed of, so I decided to build it myself." Commemorating the 75th anniversary of the legendary brand’s establishment this year, Porsche has been cond
April 21, 2023
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[Photo News] Upcycling air waste
South Korean low-cost carrier Jeju Air on Friday launched new merchandise made from decommissioned life vests as part of the company's efforts in achieving carbon neutrality. Collaborating with global upcycling brand Nukak, Jeju Air has released three products -- a passport wallet, travel bag and mini pouch -- available online.
April 21, 2023
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Korean battery makers supply 8 out of 10 US tax eligible EVs
South Korean battery makers LG Energy Solution, Samsung SDI and SK On have supplied batteries for roughly 8 out of 10 electric vehicle models eligible for US tax credits, industry sources said Thursday. Of the 22 electric vehicles, 17 models have installed Korea-made batteries, with LG Energy Solution topping the list with 11 models. LG’s list includes GM’s Cadillac Lyriq and Chevrolet Volt, Volt EUV, Equinox, Silverado and Blazer; Chrysler’s Pacifica PHEV. Ford counts the E-Tr
April 20, 2023
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Hyundai Mobis aims for $1b orders in China this year
Hyundai Mobis, a car parts maker under Hyundai Motor Group, is renewing its commitment to the all-important Chinese market as it showcases its latest technologies at Auto Shanghai 2023, the first large-scale motor show since the COVID-19 pandemic. The company said Wednesday it is holding extensive business meetings with Chinese and other global carmakers during the trade show that kicked off Tuesday. Over 1,000 carmakers and their suppliers have flocked to the Chinese city to flaunt their late
April 19, 2023
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[Photo News] Hyundai N makes China debut
Hyundai Motor Group said it has unveiled its high performance car N Brand model The New Elantra at the Shanghai International Automobile Industry Exhibition in China for the first time in the world. The Elantra model, scheduled for launch by the end of this year, is part of Hyundai's renewed sales push in China. Mufasa, the compact sport utility vehicle waiting for debut in June, was also showcased during the event.
April 18, 2023
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US strips Hyundai, Kia cars of eligibility for EV tax credits
All Hyundai and Kia cars are no longer eligible for tax credits for electric vehicles in the US amid increased protectionist sentiment there. As the result of the Inflation Reduction Act that took effect in August last year, the US Treasury Department on Monday announced a total of 16 EV models that will qualify for a tax credit of up to $7,500. All of the cars are produced by US carmakers, including Tesla, GM, Ford and Stellantis. The list includes: Tesla’s Model 3 Performance, Model
April 18, 2023