SsangYong Motor will change its name to KG Mobility to maximize the carmaker’s strengths in the future, KG Group Chairman Kwak Jea-sun said Wednesday. “The name -- SsangYong Motor -- has a fandom with good memories, but it also has a painful image,” Kwak said at an event held by the Korea Automobile Journalists Association at Four Seasons Hotel Seoul. “From now, all SsangYong cars will come out to the world under the name of KG. Even with the name change, SsangYong Motor&

Mobility Dec. 22, 2022

The South Korean government has designated three regions -- South Jeolla Province, South Gyeongsang Province and Daejeon city -- as clusters for the space industry, the Ministry of Science and ICT announced Wednesday. The decision was made during a National Space Committee meeting held earlier in the day. Prime Minister Han Duck-soo presided over the meeting, which took place for the first time since the Yoon administration took office in May. South Jeolla Province, home of the Naro Space Center

Industry Dec. 21, 2022

Hyundai Motor Group on Tuesday promoted 176 employees to executive positions with a focus on rewarding achievements and preparing for the future as one in three of the newly promoted personnel were in their 40s. The company said the executive promotions were performance-based, as the global carmaker sought to find leaders who can continue to carry out ongoing changes and future innovation in a stable manner to cope with uncertain business environments. Of the 224 new promotions, about 70 percent

Mobility Dec. 20, 2022

South Korean battery maker LG Energy Solution will invest 4 trillion won ($3.1 billion) in expanding battery manufacturing facilities at its Ochang plants in Cheongju, North Chungcheong Province, through 2026, the company announced Monday. Representatives from the battery maker, the local government of North Chungcheong Province and the city of Chungju signed the investment agreement earlier in the day. The investment will go toward expanding and upgrading the cylindrical battery production line

Mobility Dec. 19, 2022

CHEONAN -- South Korea’s leading carmaker Hyundai Motor Group is looking to stay ahead in electric vehicle aftersales services as the company continues to ramp up the development and production of EVs amid the increasing demand for eco-friendly cars. Lee Tae-soo, vice president of Hyundai Motor’s Korean customer service division, pointed to how the country's growing EV market meant customers have come to expect more from them. Korean carmakers from January to October this year s

Mobility Dec. 15, 2022

Ultium Cells -- a joint venture between LG Energy Solution and General Motors -- has secured a $2.5 billion (3.27 trillion won) loan from the US Department of Energy to help finance the construction and expansion of three electric vehicle battery manufacturing facilities in Ohio, Tennessee and Michigan, officials said Tuesday. According to the Energy Department, the announcement marked the first finalized loan exclusively for a battery cell manufacturing project under the Biden Administration&rs

Mobility Dec. 13, 2022

The “square Grandeur” is back. Hyundai Motor’s latest and seventh edition of its flagship sedan combines cutting-edge technology with a heritage design inspired by the first-generation Grandeur. When the Grandeur -- Hyundai Motor’s classic high-end sedan -- made its debut in 1986, the luxury car became an instant hit among CEOs at leading companies across South Korea and became a symbol for successful businessmen. Due to the sedan's front side design, it received the

Mobility Dec. 11, 2022

South Korean IT giant Kakao vowed Wednesday to triple its investment in efforts to set up more stable service operations after the company faced heat when its major services, such as KakaoTalk, were shut down due to a data center fire. “Kakao will invest more than three times the amount it invested in the past five years to secure human resources and develop technologies for service stabilization while implementing disaster recovery with a triple structure or higher over the next five year

Technology Dec. 7, 2022

BMW Korea said Tuesday that the German carmaker will begin selling its flagship sports activity vehicle the New X7 here. According to the carmaker, the New X7 will feature almost a complete face-lift as the model dons a new exterior design and a more luxurious interior. Prices of the different New X7 models range from 145.8 million to 179.6 million won ($111,300-$137,100).

Mobility Dec. 6, 2022

BlueOval SK, a joint venture between SK On and Ford, has broken ground to build the largest EV battery plant in the US, establishing a strong foothold to expand its market share in the global battery market. According to SK On, about 400 business leaders, US state and federal officials and local residents including SK Group Executive Vice Chairman Chey Jae-won took part in the EV battery plant’s groundbreaking ceremony in Glendale, Kentucky, on Monday. “Right here in Kentucky, Ford a

Industry Dec. 6, 2022

Hyundai Mobis will showcase its latest future mobility technology for the first time at the upcoming Consumer Electronics Show held in Las Vegas from Jan. 5 to 8, 2023, the company said Monday. The concept vehicle named M Vision TO will feature four pillars that operate sensors for autonomous driving and display technology for mixed reality.

Mobility Dec. 5, 2022

Posco Chemical has secured a deal worth $688.6 million with Ultium Cells, a US-based joint venture between LG Energy Solution and General Motors, to supply artificial graphite anode materials, the company said Monday. According to the company’s regulatory filing, Posco Chemical will begin the supply of the key battery material from next year to the end of 2028 under the contract. Artificial graphite anode materials, which are core components used in making batteries for electric vehicles,

Industry Dec. 5, 2022

Intel CEO Pat Gelsinger’s planned visit to South Korea later in the week has raised expectations he will meet with the heads of major conglomerates, including Samsung Electronics Chairman Lee Jae-yong, to discuss cooperation and further partnerships. According to industry sources Monday, Gelsinger is expected to begin his Korea trip on Friday. The Intel CEO’s detailed schedule regarding the length of his stay and the list of people he will meet has not been confirmed. In May, Lee and

Technology Dec. 5, 2022

South Korea must work toward securing irreplaceable technologies in critical industries as the country looks to become a tech powerhouse, a top government official at the Ministry of Science and ICT says. “Our country wants to become a strong country, but we are not a big country in terms of the (physical) size. So it’s impossible to have all technologies inside the house,” said Joo Young-chang, vice minister and the ministry's top innovation strategist, in an interview with T

한국어판 Dec. 5, 2022

South Korea must work toward securing irreplaceable technologies in critical industries as the country looks to become a tech powerhouse, a top government official at the Ministry of Science and ICT says. “Our country wants to become a strong country, but we are not a big country in terms of the (physical) size. So it’s impossible to have all technologies inside the house,” said Joo Young-chang, vice minister and the ministry's top innovation strategist, in an interview wi

Technology Dec. 4, 2022