Articles by Moon Joon-hyun
Moon Joon-hyun
mjh@heraldcorp.com-
Busan mobility show to bank on hybrid, EV debuts
The 2024 Busan International Mobility Show will take place later this month amid challenges faced by traditional auto shows worldwide, with Hyundai-Kia, Renault Korea and BMW Korea expected to unveil their latest electric and hybrid models. The biannual event, hosted at the Busan Exhibition and Convention Center, will commence with a press day on June 27 and continue until July 7. This year’s show coincides with the decline of long-standing auto exhibitions like the Geneva Motor Show, whic
Mobility June 10, 2024
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[KH Explains] How Hanwha Qcells thwarts China surge in US solar market
In the wake of a generative artificial intelligence-driven energy surge and favorable regulatory shifts, Hanwha Solutions’ Qcells is poised to benefit from massive government subsidies in the US solar market. As many US solar companies have been scaling back investments due to the influx of inexpensive Chinese solar products, the Korean solar panel maker is seizing the opportunity to become the only company with a fully integrated local solar value chain that allows it to benefit from a co
Industry June 10, 2024
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Doubts persist over oil project despite expert briefing
Doubts persist over the potential of newly identified oil and gas reserves off South Korea’s southeastern coast, despite a press briefing on Friday led by the expert behind the discovery to address public concerns about the drilling project's feasibility and the credentials of the company involved. Since the announcement a week ago, the claim has triggered a wave of public attention, expressing both excitement and skepticism, with the government providing multiple clarifications for rumors
Industry June 9, 2024
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Oil, gas reserves in East Sea 'highly prospective' says Act-Geo owner
The existence of oil and gas reserve in the East Sea is "highly prospective" as seismic data show the examined wells contain all four key elements of a petroleum system, Vitor Abreu, the owner and adviser of the US geoscience research firm Act-Geo said Friday. Act-Geo is the company that suggested substantial oil and natural gas deposits may be buried in the deep sea near Pohang's Yeongil Bay. "So to summarize ... the basin is highly prospective," Abreu said during a pre
Industry June 7, 2024
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Act-Geo founder arrives in Seoul to explain oil find
Following the recent announcement that South Korea may have discovered up to 14 billion barrels of oil and gas reserves off its southeastern coast, Vitor Abreu, the owner of Act-Geo, the firm responsible for the discovery, arrived in Seoul on Wednesday to elaborate on these findings. Abreu landed at Incheon Airport earlier in the day to meet with government and industry officials. According to industry sources, he is to hold a press conference in Sejong City on Friday to address questions regard
Industry June 5, 2024
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42dot gets $185m from Hyundai-Kia to boost hiring
Hyundai Motor and Kia are investing some 253 billion won ($185 million) in 42dot, the global software center within Hyundai Motor Group, to aggressively recruit top-tier talent and accelerate the group's software-defined vehicle strategy. On Tuesday, Hyundai and Kia announced through Korea's Financial Supervisory Service that their boards had approved a capital increase, with Hyundai contributing over 152 billion won and Kia adding more than 101 billion won. This investment is based on
Mobility June 5, 2024
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LG Energy Solution, Analog Devices team up for BMS innovation
LG Energy Solution said Wednesday it has signed a memorandum of understanding with American semiconductor manufacturer Analog Devices, Inc. to enhance battery management technologies for electric vehicles. Over the next two years, ADI will supply high-performance battery management integrated circuits, or BMIC, while both companies develop algorithms to measure the internal temperatures of EV battery cells accurately. Analog Devices specializes in impedance measurement technologies. Impedance, t
Mobility June 5, 2024
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[KH Explains] Has South Korea really struck oil?
The South Korean government is making headlines with claims of potentially substantial oil and natural gas reserves discovered off its southeastern coast, near Pohang's Yeongil Bay. If confirmed, this discovery could elevate Korea’s status as an oil-producing nation. However, transitioning from finding these reserves to harnessing them is a complex journey. Here, we address the key questions surrounding this development. What is the basis of the government's claim? In February 2023,
Economy June 4, 2024
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[KH Explains] Hyundai eyes IPO to leverage presence in India
Hyundai Motor Group is aiming to list its Indian subsidiary, Hyundai Motor India, in the coming months, raising up to $3 billion in a landmark initial public offering, according to industry sources Monday. HMI reportedly plans to file for the IPO in June, with Kotak and Morgan Stanley newly joining the syndicate as the deal advisers. If successful, it could surpass the $2.5 billion raised by the Life Insurance Corporation of India in 2022, potentially setting a new record in the Indian stock mar
Mobility June 3, 2024
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Hyundai rally team wins third WRC race in Italy
Hyundai Motor Co. said Monday it clinched its third consecutive victory of the 2024 World Rally Championship season on Sunday at the Rally Italia Sardegna. The Hyundai World Rally Team secured a win in the sixth round of the 2024 WRC season on the Italian island of Sardinia, held from Thursday to Sunday. Rally Italia Sardegna, known for its challenging narrow and rough roads and sweltering early summer weather, is considered one of the toughest events in the WRC calendar. Hyundai's Ott Tana
Mobility June 3, 2024
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HD Korea Shipbuilding unveils safer ammonia-powered ships
HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai's shipbuilding and offshore businesses, unveiled its latest advancements in ammonia-fueled vessel technology at the Global Tech Forum on Friday in Athens, Greece. At the forum, which attracted over 100 attendees from the global shipbuilding and maritime industry, the Korean vessel manufacturer introduced its integrated scrubber technology designed to nearly eliminate toxic gas emissions from am
Industry June 2, 2024
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Kazen's new look powers HD Hyundai Oilbank's premium push
HD Hyundai Oil Bank is stepping up its focus on the premium gasoline market with an updated brand design and slogan for Kazen, its flagship high-end gasoline product. The new design, launched in May, aims to improve readability and create a strong, dynamic impression. It will be rolled out across all HD Hyundai Oil Bank gas stations nationwide. The Kazen boasts an octane rating of over 100, exceeding legal standards. This high-octane fuel is crucial for preventing engine knocking and optimizing
Mobility May 30, 2024
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Hanwha Qcells completes major solar project for Meta
Hanwha Qcells said Thursday that it had completed a major solar power and energy storage project in California to supply renewable energy to Meta, Facebook's parent company. Located in Borrego Springs, California, the facility has 50 megawatts of solar modules and a 200-megawatt-hour energy storage system. Meta has been carbon neutral since 2020 and is committed to achieving full supply chain carbon neutrality by 2030. A 50 MW solar capacity situates this project in the mid-range among util
Industry May 30, 2024
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UAE president, Hyundai Motor chief discuss green mobility partnerships in Seoul
Hyundai Motor Group Executive Chair Chung Euisun met with United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan in Seoul on Tuesday to discuss enhancing private-sector collaboration in sustainable mobility during Al Nahyan's visit to Korea this week. The UAE President's visit, his first to South Korea, also included meetings with leaders of other major South Korean conglomerates, such as Samsung Electronics' Lee Jae-yong and SK Group's Chey Tae-won. These discuss
Mobility May 29, 2024
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Korea's privacy watchdog denies Tesla Autopilot probe
South Korea's privacy watchdog has denied claims from a news report suggesting the agency is specifically investigating Tesla for potential privacy violations related to the carmaker's Autopilot system. The Personal Information Protection Commission clarified that its current efforts are part of a broader privacy policy initiative that involves all smart cars and self-driving mobility systems, not just Tesla’s Autopilot. On Tuesday, a local daily reported that the Personal Information Prot
Mobility May 28, 2024
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