Hyundai Motor Company has brought back the Pony Coupe Concept vehicle about 50 years after the original vehicle was first showcased at the 1974 Turin Motor Show in Italy to highlight the automaker’s history and heritage. Hyundai Motor unveiled the restored Pony Coupe Concept at the inaugural event for Hyundai Reunion -- a heritage brand platform that reflects on the automaker’s past and its future direction -- in Lake Como, Italy, on Thursday. "Despite the poor industrial enviro

Mobility May 19, 2023

LG Energy Solution’s top management and Canada’s top leadership including Prime Minister Justin Trudeau discussed ways to resolve the issue of the halted construction of a joint battery plant between the South Korean battery maker and Stellantis in the Canadian province of Ontario, according to an industry source Thursday. “The Canadian prime minister and Canadian government officials sat down with LG Energy Solution’s high-ranking officials to figure out a breakthrough f

Industry May 18, 2023

Kolon Industries will invest 24 billion won ($18 million) to increase the production of pure monomer resin, or PMR, to cope with the expanding electric vehicle market and the increasing demand for EV tires, the company said Monday. The South Korean chemical and industrial materials maker plans to boost its annual production capacity at the PMR manufacturing plant in Yeosu, South Jeolla Province, by 10,000 metric tons to 21,000 tons. The expansion is projected to be completed in the first half of

Industry May 15, 2023

KG Mobility, formerly known as SsangYong Motor, is hoping to expand the market size of its long-beloved large sports utility vehicle Rexton and pickup truck Rexton Sports with the latest face-lifted versions of the two signature brands: Rexton New Arena and Rexton Sports&Khan Culmen. The automaker held the test drive events for the Rexton New Arena and Rexton Sports&Khan Culmen last week with about 100 South Korean media outlets taking part. The 220-kilometer test drive included winding

Mobility May 15, 2023

The Ministry of Science and ICT has completed the registration of Starlink Korea, a local subsidiary of US space company SpaceX, as a common telecommunications business. According to the ministry on Friday, the government decided to grant the license to the US company after it reviewed its financial and technical capabilities, and plans to protect users, as part of the registration requirements under the Telecommunications Business Act. SpaceX filed for business registration with the ministry in

Technology May 14, 2023

The consecutive successes of South Korea’s Nuri rocket and Danuri lunar orbiter opened a new space era for the country’s space road map last year. The Korean government and President Yoon Suk Yeol set out ambitious goals of landing on the moon in 2032 and on Mars in 2045, signaling the beginning of the space economy. Korea Aerospace Industries, which has played an essential role in the country’s recent space milestones, is now aiming to expand its space businesses with a focus

Technology May 14, 2023

SK Innovation and SK IE Technology announced Monday that the two companies will jointly invest in Airrane, a local firm specializing in membrane technology for gas separation, to strengthen their carbon reduction competitiveness. SK IE Technology -- a subsidiary of SK Innovation, an energy and chemical company under South Korean conglomerate SK Group -- manufactures lithium-ion battery separators, or LiBS, for electric vehicles. The amount of the investment was not disclosed. Airrane has worked

Technology May 8, 2023

As the global space race gets heated, more satellites will be launched into space. Dealing with the increasing number of satellites will be an enormous market. Nara Space, a South Korean startup specializing in developing small satellites and providing solutions with satellite images of the Earth, is aiming to become a pioneer in the space traffic control sector. “We think the market for controlling space traffic or markets related to space traffic will grow immensely,” Park Jae-pil,

Technology May 8, 2023

GOHEUNG, South Jeolla Province -- South Korea’s homegrown Nuri rocket, also known as the Korea Space Launch Vehicle-II, was waiting for the arrival of the satellites that it will carry into orbit later this month at the Naro Space Center in Goheung, South Jeolla Province, on Wednesday. Successfully placing the satellites into the targeted orbit will be key for upcoming launch as the Nuri rocket readies for its third flight. “The first and second launches were about developing capabil

Technology May 7, 2023

HD Korea Shipbuilding & Offshore Engineering, an intermediate holding company of South Korean heavy industries conglomerate HD Hyundai, has bagged 12 orders for liquefied natural gas (LNG) and liquefied petroleum gas (LPG) carriers worth 2.79 trillion won ($2.08 billion) in a span of less than a week. According to the shipbuilder, HD KSOE on Tuesday signed a contract with an Oceanian customer to build two 200,000-cubic-meter LNG carriers. The shipbuilder inked a contract with a European cust

Industry May 2, 2023

SK E&S, a green energy company under South Korean conglomerate SK Group, and Plug Power, a US developer of hydrogen fuel cell systems, will invest 1 trillion won ($747 million) in strengthening Korea’s hydrogen industry, SK E&S said Tuesday. According to the announcement, the investment will be made through the two companies’ joint venture, SK Plug Hyverse, established last year. SK E&S and Plug Power will invest 510 billion won and 490 billion won, respectively, to build

Technology May 2, 2023

The South Korean government plans to unveil its industry strategy for advanced robots before the end of the first half of the year as the country looks to foster its robotics sector and competitiveness on the global stage, according to Trade Minister Lee Chang-yang. “The Korean government will provide support for strengthening the competitiveness of cutting-edge robot companies, creating a new market and establishing global footholds,” said Lee during his visit to Boston Dynamics --

Industry April 30, 2023

“As a human who has looked at the Earth from space with the naked eye, I’ve come to a position where it is very difficult for me to ignore the problems on Earth. And that is something that all astronauts have in common,” said Yi So-yeon, Korea’s one and only astronaut, in an interview with The Korea Herald on April 25. Yi became the first Korean to travel to space when Soyuz TMA-12, a Russian space mission to the International Space Station, was launched on April 8, 2008.

Technology April 30, 2023

The final puzzle piece for Hanwha Group's ambitions in becoming a global defense company has fallen into place. With antitrust regulators approving the acquisition of Daewoo Shipbuilding and Marine Engineering, the group's business operations now span all three areas of air, land and sea. Hanwha, whose core businesses are its aerospace and defense systems, previously tried to acquire DSME in 2008 with Hanwha Group Chairman Kim Seung-yeon leading the takeover. But the global financial c

Industry April 27, 2023

South Korea and the United States have elevated space cooperation, seeking a stronger space alliance as the two countries agreed to join hands for space exploration and space science. “I hope that growing bilateral collaboration in space will also enable the two allies to play a leading role in ensuring that the benefits of space exploration are shared by all people around the world and take the helm in establishing fair and rational principles for the use of outer space,” said Presi

Foreign Affairs April 26, 2023