LG Energy Solution will invest 7.2 trillion won ($5.6 billion) to build two battery plants in the US to solidify its leadership in the battery value chain in North America, the South Korean battery maker announced Friday. The battery plants will break ground in Queen Creek, Arizona, this year. The company is spending 4.2 trillion won on the first plant to produce cylindrical batteries, which wi...

Government officials and business leaders from South Korea and Indonesia on Friday underscored combined efforts to expand the electric vehicle ecosystem in the Southeast Asian country at a business forum marking the 50th anniversary of bilateral ties. “The collaboration is very important because you (Korea) have very good technology on the lithium battery. By 2027, we are hopefully going to be t...

Rolls-Royce Motor Cars will present the Spectre -- the British high-end carmaker’s first and much-anticipated electric vehicle -- in Korea in June for the first time in Asia, according to CEO Torsten Muller-Otvos. “Korea is one of the fastest-growing markets for us worldwide. We decided that Spectre will be first shown here in Korea for Asia,” said Muller-Otvos in an interview with the Korea Aut...

Hyundai Motor Company has bolstered its global expertise by adding global chief operating officer Jose Munoz to the board of directors, the automaker said Thursday. The proposal to add Munoz to the board was approved at the 55th general shareholders’ meeting held at the company’s headquarters in southern Seoul earlier in the day. Munoz, who has 30 years of experience in the global auto industry...

Innospace, a South Korean startup specializing in developing hybrid space rockets, on Tuesday announced that the previous day's launch of the Hanbit-TLV had been successful, opening up a new era for the country’s private space sector. The Hanbit-TLV, which was launched from the Alcantara Space Center in Brazil at 2:52 p.m. on Sunday there, flew for 4 minutes and 33 seconds with its engine burnin...

Innospace, a South Korean startup specializing in developing hybrid space rockets, said it has launched the Hanbit-TLV -- an 8.4-ton single-stage thrust hybrid rocket standing at 16.3 meters tall -- from the Alcantara Space Center in Brazil at 2:52 p.m. on Sunday local time. “We will announce the results of the engine’s flight performance and whether the payload’s mission ends up in a success af...

Korea Aerospace Industries will spend 4.5 trillion won ($3.5 billion) in research and development to achieve a quantum jump in the global aerospace industry, according to its CEO on Friday. “In the aerospace industry, you cannot survive if you are not looking ahead 40 to 50 years from now. From the perspective of a CEO, (spending money on) research and development drags down (short-term) perform...

The two biggest business groups from South Korea and Japan will establish two future partnership funds as the two countries’ economic sectors try to mend ties and strengthen cooperation, according to officials Thursday. Kim Byong-joon, acting chief of the Korean Federation of Industries, and Masakazu Tokura, chairman of the Japan Business Federation, commonly known as Keidanren, announced the jo...

HD Hyundai Chairman Kwon Oh-gap on Wednesday received South Korea’s highest state industrial award -- Gold Tower Order of Industrial Service Merit -- for his achievements as a business leader in enhancing the country’s shipbuilding industry and promoting the culture of giving. The award ceremony took place during the ceremony of the 50th Commerce and Industry Day organized by the Ministry of Ind...

CJ제일제당이 미국 등 해외에서 폭발적인 인기를 얻고 있는 만두 제품군에 새로운 제품으로 ‘붕어빵 만두’를 개발 중인 것으로 파악됐다. 15일 업계 관계자에 따르면 CJ가 준비하고 있는 붕어빵 만두는 겉면이 바삭한 기존 붕어빵에 팥소 대신 비비고의 만두소를 넣은 것으로 새로운 맛과 식감에 최근 임직원들을 대상으로 한 사내시식회에서는 반응이 엇갈렸다고 한다. 이 관계자는 “붕어빵 만두의 경우 비비고 라인업이 아닌 고메 베이커리 제품으로 출시하기 위한 상품화 과정이 진행중”이라며 “추후 해외에서는 비비고의 만두 라인업으로 출시될 가능성이 있다”고 설명했다. 다만 아직까지 구체적인 출시 일정은 정해지지 않았다고 한다. CJ제일제당은 지난해 국내 식품기업으로는 처음으로 해외 매출이 연간 5조원을 돌파했다. ...

CJ CheilJedang is developing a new Korean-style dumpling, or "mandu," in the shape of "bungeoppang" -- a popular fish-shaped waffle generally filled with red bean paste or cream -- as the food giant looks to expand its future portfolio, according to a source familiar with the matter, Wednesday. The source told The Korea Herald that the food giant has recently completed an internal review of the ...

Hyundai Motor Group has decided to donate eight customized sleeper buses worth 5.2 billion won ($4 million) to the National Fire Agency for the Korea Chamber of Commerce and Industry’s first social responsibility project, the South Korean auto giant said Tuesday. As part of the project, Hyundai Motor Group, along with the KCCI and Hyosung Group, held a social event at a fire station in the south...