LG Energy Solution and Honda have completed the establishment of a joint venture to build a battery manufacturing plant in the US, officials announced Friday. The joint venture, tentatively named L-H Battery Company, marks the first collaboration between a South Korean battery maker and a Japanese automaker. Friday’s official announcement was a follow-up to the two companies’ previous agreement in August. According to the announcement, the two companies will invest a total of $4.4 bi

Mobility Jan. 13, 2023

Hyundai Motor Group has applied digital therapeutics technology into an automobile for victims of child abuse to have an in-the-car treatment experience. According to the South Korean automaker Friday, the healing vehicle named “iCAREcar” has been developed with Hyundai Motor’s minivan Staria and its interior has been optimized to offer psychological counseling inside the car. Under the theme of "Heals on Wheels," the group's latest social campaign project was co

Mobility Jan. 13, 2023

Hyundai Motor Group Executive Chair Chung Euisun has been named the MotorTrend Person of the Year, the South Korean carmaker announced Thursday. With the award, Chung topped the US automobile magazine's list of the 50 most influential figures in the global automotive industry. He was ranked fifth in last year’s rankings. MotorTrend acknowledged Chung for leading Hyundai Motor Group into a new age, underscoring that the vehicles developed under his leadership are notable for their &ldq

Mobility Jan. 12, 2023

Hanwha Solutions will invest 3.2 trillion won ($2.57 billion) in expanding its solar energy businesses and building additional facilities to complete the manufacturing line in the United States through next year, the South Korean company said Wednesday. The company said it plans to set up a solar hub that will be capable of producing four of the five core parts -- ingot, wafer, cell and module -- in the solar energy industry. The hub will feature two different sites in the state of Georgia. Hanw

Industry Jan. 11, 2023

American carmaker Ford has selected LG Energy Solution as a new partner to build an electric vehicle battery plant in Turkey, scrapping its previous deal with SK On for the battery manufacturing project, according to industry sources here Tuesday. One source on condition of anonymity told The Korea Herald that the reason Ford decided to part ways with SK On was likely due to the battery maker’s relatively low yield rate. “SK On’s battery yield rate is estimated at a maximum of

Industry Jan. 10, 2023

LAS VEGAS -- Mercedes-Benz will look to introduce its newly announced high-power charging network to South Korea by the end of 2024, the global carmaker’s chief technology officer said Thursday. “Korea is a huge market … it’s the fourth largest market for us,” Markus Schafer, Mercedes-Benz Group AG board member and chief technology officer, told a group of Korean and Japanese reporters in an interview conducted a few hours after the carmaker announced a plan to lau

Mobility Jan. 9, 2023

LAS VEGAS -- The exhibition of SK Group, South Korea’s second-largest conglomerate, drew the eyes of visitors and participants at CES 2023 held in Las Vegas from Thursday to Sunday. “They set up these black walls. I can’t really see what’s inside there,” said Chris Tomlin, an auto mechanic based in Los Angeles, as he stood in line to enter the exhibition area. There were others getting in the waiting line as the inside of the exhibition was not entirely visible from

Technology Jan. 8, 2023

LAS VEGAS -- Dozens of people lined up in front of Bodyfriend’s exhibition at CES 2023 on Friday morning, waiting to try out the latest products of the South Korean massage chair maker. “I feel like it’s another world. It’s amazing. I did a lower body workout a couple of days ago and it really helped ease my muscle,” Halah Ramzi, an electric engineer from San Diego, told The Korea Herald after her 10-minute experience with Quantum Rovo which features Bodyfriend&rsqu

Technology Jan. 8, 2023

LAS VEGAS -- Korea Shipbuilding and Offshore Engineering on Friday signed a partnership with the American Bureau of Shipping to accelerate the development of unmanned large ships. “The cooperation with the ABS will be a great help for HD Hyundai to lead the development and commercialization of autonomous navigation,” said Kim Sung-joon, head of KSOE’s future technology research center. KSOE, the world’s largest shipbuilder and a sub-holding company of HD Hyundai, said t

Mobility Jan. 8, 2023

LAS VEGAS -- South Korean auto parts and mobility solutions provider Hyundai Mobis on Thursday said it will cooperate with global semiconductor developer Qualcomm to develop autonomous driving control unit technology. According to Hyundai Mobis, the two companies will work together on developing control technology for Level 3 autonomous driving, which refers to conditional driving automation that allows drivers to hand over control to the vehicle, but requires them to be ready to take the wheel

Mobility Jan. 6, 2023

LAS VEGAS -- HD Hyundai on Wednesday pledged to transform how people see and use the ocean in order to build a sustainable future. “To solve the most pressing challenges faced by mankind today, including the global energy crisis and climate change, we must capitalize on the infinite potential of the sea,” said Chung Ki-sun, CEO of HD Hyundai, in a press conference held a day ahead of CES 2023 in Las Vegas. “As a future builder, HD Hyundai will take lead in driving a historic ex

Industry Jan. 5, 2023

By Business Desk New opportunities can arise from out of crises. Chiefs of Korea's top conglomerates are banking on words of wisdom for the year ahead as businesses face an age of relentless changes stemming from geopolitical conflicts, inflationary pressures and a recessionary environment. To overcome factors dragging on business activities, uncovering their own path to thrive for growth has become more important than ever as traditional approaches and paradigms have been challenged. In

Industry Jan. 2, 2023

Hyundai Motor Group is considering setting up its first Middle East plant in Saudi Arabia, paving the way for it to secure footing in the region’s burgeoning automotive market. The Saudi Ministry of Industry and Mineral Resources on Saturday announced in a tweet that the kingdom had inked a memorandum of understanding with the South Korean carmaker to advance joint cooperation for the auto industry in the region to achieve its national goal of developing local manufacturing capabilities. M

Mobility Jan. 2, 2023

South Korean companies are gearing up to showcase their latest future technology at the upcoming CES 2023 -- the world’s largest tech convention -- slated to be held from Jan. 5 to Jan. 9 in Las Vegas. According to CES organizer, Consumer Technology Association, this year’s event will feature over 3,100 exhibitors from 173 countries and regions around the world. The CTA expects the four-day event to draw over 100,000 visitors. After years of pandemic disruptions, this year’s

Technology Jan. 1, 2023

North Korea fired three short range ballistic missiles toward the East Sea, the South Korean Joint Chiefs of Staff said Saturday. According to the JCS’s announcement, the S. Korean military detected the launch of the missiles from Chunghwa County in North Hwanghae Province at around 8 a.m. The JCS said the missiles flew about 350 kilometers before falling into the East Sea. “Bolstering the surveillance and vigilance, our military is maintaining readiness with the close cooperation be

North Korea Dec. 31, 2022