Nexon has come out on top in second quarter earnings among major Korean game developers, becoming the only company to post on-year growth in both sales and operating profits during the period. Nexon on Wednesday reported 902.8 billion won ($685.3 million) in sales and 264 billion won in operating profit in the April-to-June period, up 12 percent and 22 percent on year, respectively. The game maker thrived in the second quarter thanks to the success of strong intellectual properties and new title

Industry Aug. 10, 2023

Hyundai Mobis, an automotive parts maker under South Korean conglomerate Hyundai Motor Group, said Wednesday that it secured a large-scale order for battery system assembly from Volkswagen Group. Although the exact terms of the contract were not disclosed, the Korean car parts maker said the order signifies Hyundai Mobis’ global competitive edge in technology and mass production of electric vehicle parts. The announcement marks Hyundai Mobis’ first overseas contract disclosed to the

Mobility Aug. 9, 2023

Hyundai Motor Group Executive Chair Chung Euisun has emphasized the importance of India as a foothold for future mobility as the South Korean automaker looks to lead the country’s fast-growing electric vehicle market. According to the Korean automaker Tuesday, the Hyundai Motor chief visited Hyundai Motor Company’s technical center and manufacturing site in India from Monday to Tuesday to discuss mid to long-term growth strategies with local employees. Hyundai Motor said Chung closel

Mobility Aug. 8, 2023

LG Energy Solution will build two battery recycling plants in eastern China under a joint venture with top Chinese cobalt producer Huayou Cobalt, marking the first collaboration of its kind in the industry between Korean and Chinese companies. The pretreatment factory, which will be set up in Nanjing, Jiangsu province, will extract battery scrap generated from battery production and process used batteries, LG Energy Solution said in an announcement Tuesday. The post-processing factory, which wi

Industry Aug. 8, 2023

Kia will debut a new robot next year in collaboration with Boston Dynamics, a US-based robotics company that was acquired by Kia’s parent Hyundai Motor Group in 2021, according to the South Korean automaker’s latest sustainability report published Tuesday. Although the report did not specify what type of robot it will be, the report noted that Kia will continue to search for new business opportunities such as robotics logistics and unstaffed delivery services by collaborating with th

Mobility Aug. 1, 2023

South Korean conglomerate Hanwha Group is looking to add more talent to ramp up its space personnel resources and lead the opening of the country’s space era. Hanwha Aerospace and Hanwha Systems on Monday opened a recruitment process to hire newcomers and experienced job seekers as crew members of the Space Hub -- Hanwha’s conglomeratewide council dedicated to developing space businesses. According to the recruitment notice, Hanwha plans to hire over 100 people in 10 space sectors, s

Industry July 31, 2023

Over 50 space companies from across the globe gathered on Jeju Island on June 28 to attend the opening ceremony of the International Space Summit. They came together to discuss trends in the space industry, in launch vehicles, ground station networks, satellite image analysis and other areas. The two-day ISS was organized by Contec, a local startup specializing in satellite-to-ground station services. “There has never been any space conference of such a size in our country,” Lee Sung

Technology July 30, 2023

The Chevrolet Trailblazer has come back as a compact sports utility vehicle that suits both an urban lifestyle and off-road driving. As the vehicle nearly went through an overall facelift, the first impression that stood out was the sharp design of the front at the media test-drive held by General Motors in Seoul on July 26. The chrome bars running across the top and bottom of the radiator grille and the thin LED headlamps gave a solid, aggressive impression. With a length of 4,425 millimeters,

Mobility July 30, 2023

Kia will consider lowering the prices of its battery-powered electric vehicles to compete against global EV leaders amid growing markets, according to the automaker’s chief financial officer on Thursday. “The important point from now on regarding the EV market, which has become highly competitive and abnormal in some sense, is that we should put more weight on securing our market share than focusing on profitability,” said Joo Woo-jeong, Kia’s CFO and executive vice presi

Mobility July 27, 2023

South Korean carmakers Hyundai Motor Company and its sister firm Kia have joined forces with five global auto giants -- BMW, General Motors, Honda, Mercedes-Benz and Stellantis -- to form a joint venture for establishing an electric vehicle charging network across North America, in a combined effort at curbing Tesla’s attempt at EV charging standardization. The seven companies announced on Wednesday in US time that the joint venture will set up at least 30,000 chargers by 2030, saying that

Mobility July 27, 2023

A joint battery research center between Hyundai Motor Group and Seoul National University officially opened Tuesday, signifying the South Korean automaker’s willingness to secure future-leading technologies in the global electric vehicle industry. “Our mission to develop a diverse range of mobility solutions equipped with advanced batteries is driven by our strong commitment to a sustainable environment for future generations,” said Hyundai Motor Group Executive Chair Chung Eui

Mobility July 25, 2023

Hyundai Group Chairman Hyun Jeong-eun has highlighted the importance of business management with a people-centered approach and fostering young talent, Hyundai Elevator said Sunday. Hyun attended a town hall meeting to commemorate the opening of Hyundai Elevator’s Future Talent Academy with some 20 attendees representing the elevator firm's subsidiaries and partners including Korea National University of Transportation and Korea Lift College. During the Friday meeting at Hyundai Eleva

Industry July 23, 2023

In February 2009, two communications satellites -- a commercial satellite owned by US-based global satellite company Iridium Communications and a Russian military satellite -- collided in space, marking the first-known collision between two satellites and resulting in over 10,000 pieces of space debris. Spacemap, a South Korean startup, is looking to bring about an evolution that makes space missions safer with its platform technology that can predict the orbits of satellites and space debris to

Technology July 23, 2023

South Korea’s leading conglomerates and business groups have donated 19 billion won ($15 million) as part of relief and recovery efforts for the victims of the recent monsoon rains which caused flooding and landslides in many parts of the country. Korea's four largest groups, Samsung, Hyundai Motor, SK and LG, led the charge Thursday in raising financial support for those most affected by the downpours with a combined donation of 10 billion won. Samsung Group announced a 3-billion-won

Industry July 20, 2023

HD Korea Shipbuilding and Offshore Engineering, an intermediate holding company of South Korea’s heavy industries conglomerate HD Hyundai, said Wednesday that it has scored an order to build the world’s largest liquefied carbon dioxide, or LCO2, carrier. According to HD Hyundai, the shipbuilder recently signed a 179 billion won ($141 million) contract with Greek ship operator Capital Maritime Group to build two 22,000-cubic-meter-class LCO2 carriers. The carriers are 159.9 meters in

Industry July 19, 2023