Samsung Heavy Industries scored a 4.57 trillion won ($3.43 billion) order with a Middle Eastern shipowner -- the single largest contract in its history -- to build 15 liquefied natural gas carriers, the South Korean shipbuilder said Tuesday. The 174,000-cubic-meter LNG carriers will be delivered to the shipowner in phases through October 2028. The previous record for the single biggest contract was the 3.96 trillion won deal signed with Taiwan-based shipping company Evergreen Marine for 16 metha

Industry Feb. 6, 2024

Jesse Lingard, former Manchester United midfielder and England men’s national football team member, arrived at Incheon International Airport on Monday afternoon as he is expected to finalize a deal with FC Seoul of the K League 1, South Korea’s highest professional football league, later this week. If the deal with FC Seoul goes through, the former English Premier Leaguer will become the biggest international football star with the highest name value that the Korean league has ever s

Soccer Feb. 5, 2024

Hyundai Motor India, South Korean conglomerate Hyundai Motor Group’s local subsidiary, is planning to float its shares in an initial public offering on the Indian stock market before the end of this year, according to reports Monday. Citing unnamed sources, The Economic Times reported that a group of global investment banks including Goldman Sachs, Citi, Morgan Stanley, JP Morgan, Bank of America, HSBC, Deutsche Bank and UBS came to Seoul last week to present their IPO proposals to Hyundai

Mobility Feb. 5, 2024

LS Electric said Monday that its electric vehicle parts subsidiary LS e-Mobility Solutions has recently completed the construction of an EV parts manufacturing plant in Durango, Mexico to target the North American electric vehicle market. The Durango plant, which covers an area of 35,000 square meters, is capable of producing 5 million EV relays and 4 million battery disconnect units per year. As a typical EV can have 20 relays or more, the plant has the capacity to deliver EV relays for up to 2

Mobility Feb. 5, 2024

South Korean automakers and battery firms are closely monitoring this year's US presidential election and calmly bracing for negative impacts in the case of the Joe Biden administration’s Inflation Reduction Act possibly being repealed in a second Donald Trump term. The IRA, which is intended to boost American manufacturing and keep China in check, offers incentives to buyers of electric vehicles with certain battery parts and materials secured from US soil or via international partne

Mobility Feb. 4, 2024

EcoPro, a South Korean battery materials manufacturer, has joined hands with US battery recycling firm Cirba Solutions to ramp up its lithium-ion battery recycling business in North America. According to EcoPro on Thursday, the two sides recently signed a memorandum of understanding to cooperate to deal with Washington’s Inflation Reduction Act and expand the global supply chain of electric vehicle batteries. In the EV battery sector, the IRA incentivizes domestic manufacturing and require

Industry Feb. 1, 2024

Almonty Industries, a multinational mining company headquartered in Toronto, expects to reopen the Sangdong Mine in Yeongwol, Gangwon Province, and begin operations before the end of the year to offer an alternative source for tungsten, a critical material, according to the firm’s CEO Lewis Black. "I think now we’ve finally got a clear path to reopen the world’s largest tungsten mine,” Black said in an interview with The Korea Herald at the office of Almonty Korea Tu

Industry Jan. 31, 2024

Stellantis Korea has named Bang Sil as its new head, the global automaker’s Korean office announced Tuesday. Bang will become the first Korean and female managing director of Stellantis Korea once the appointment takes effect Thursday. The Amsterdam-headquartered automaker established its Korean office in 2021. The new chief has over 20 years of experience in the auto industry, covering areas such as public relations, marketing, sales and networking. She previously served as an executive a

Mobility Jan. 30, 2024

Hyundai Mobis secured a record high of global orders totaling $9.2 billion last year on the back of the worldwide automation trend in the car sector, the South Korean auto parts manufacturer under Hyundai Motor Group said Monday. Noting that the overseas orders significantly exceeded the originally set target of $5.6 billion, Hyundai Mobis highlighted that the new record was achieved through key parts orders signed with global automakers excluding the two Korean carmakers, Hyundai Motor Company

Mobility Jan. 29, 2024

SINGAPORE -- Porsche has underscored its drive to put a great emphasis on the Southeast Asian region, as the German automaker vowed to find ways to offer various Porsche experiences for the Association of Southeast Asian Nations. “Our business is based on four pillars and (they are) Europe, North America, China and (what we call the) 'overseas region,' which is becoming more and more important,” said Matthias Becker, Porsche’s vice president of region overseas and eme

Mobility Jan. 28, 2024

SINGAPORE -- Porsche debuted the new Macan -- the automaker’s second all-electric vehicle and first battery-powered sport utility vehicle -- in Singapore on Thursday, officially signaling the start of its future lineup based on the company’s EV-dedicated platform. “We are taking the Macan to a completely new level with exceptional E-Performance, the new driver experience and a very impressive design,” said Oliver Blume, chairman of Porsche’s executive board, durin

Mobility Jan. 25, 2024

Hyundai Glovis, a logistics affiliate of Hyundai Motor Group, said Monday that it has decided to invest in Korean battery recycling firm ER to take the lead in the global market as the worldwide demand for electric vehicles is expected to increase. According to the announcement, the two firms signed a share subscription agreement but did not disclose the investment amount or details of the contract. Hyundai Glovis has secured the rights to ER’s preprocessing technology and relevant facilit

Industry Jan. 22, 2024

Chung Mong-joon, the founder and honorary chairman of the Asan Institute of Policy Studies, will attend the late Henry Kissinger's memorial service, slated to be held in New York on Thursday, the South Korean think tank announced Sunday. "Dr. Kissinger’s scholarly and intellectual achievements have influenced how people around the world view the United States and our world order," said Chung in a statement. "We will always remember his wisdom and miss his insights as we

Industry Jan. 21, 2024

Hyundai Motor Company and Kia have set a new record, selling over 1.1 million vehicles in Europe in 2023, the South Korean automakers said Thursday. According to the announcement, Hyundai Motor sold 534,170 units and Kia sold 572,297 units, up 3.1 percent and 5.4 percent on-year, respectively. Together, the two carmakers’ yearly sales increased by 4.3 percent in comparison to the year before. The European Automobile Manufacturers’ Association announced that the European Union's

Mobility Jan. 18, 2024

진행자: 간형우, Ali Abbot Fried chicken voted most popular K-food overseas 기사 요약: 해외 18개 도시서 한식 소비자 조사 실시한 결과 가장 좋아하는 음식은 ‘한국식 치킨’ [1] Korean-style fried chicken was selected as the favorite Korean food outside of Korea, according to the results of a government survey announced Thursday. *result: 결과 [2] In an international study involving some 9,000 people living in 18 major cities across the world, officials investigated the global perception of Korean food. *involve: 포함하다, 관련되다, 참여하다

Podcast Jan. 15, 2024