KG Mobility is hoping to finish 2023 strong to end the year with a profit for the first time since 2016 on strong sales overseas and the automaker’s bestselling sport utility vehicle Torres. According to a regulatory filing, the Korean carmaker has logged accumulative revenue and operating profit of almost 3 trillion won ($2.32 billion) and 42.4 billion won, respectively, in the first three quarters of this year. The revenue from the period of January to September saw a 24.6 percent jump o

Mobility Nov. 30, 2023

GS Group, the South Korean energy, retail and construction conglomerate, on Wednesday said it promoted 50 executives across its affiliates, the most the group has carried out in its annual reshuffle since its establishment in 2005. The promotions include Kim Seong-min, new CEO at GS Caltex, Yoo Jae-young, CEO of GS Power, and Cheong Yong-han, CEO of GS Entec. Kim, along with Hur Sae-hong, the incumbent CEO of GS Caltex, will serve as independent heads of the oil refiner. GS Group last month appo

Industry Nov. 29, 2023

Hyundai Motor Group, one of the most avid supporters of the ultimately unsuccessful Korean campaign to host the World Expo 2030 in Busan, reports having strengthened its worldwide business opportunities and global partnerships through the campaign-backing efforts across the globe. The Korean government came up short as the country lost to Riyadh, Saudi Arabia in the first round of voting by the members of the Bureau International des Expositions in Paris on Tuesday. Despite the loss, Hyundai Mot

Mobility Nov. 29, 2023

Volvo on Tuesday launched its latest all-electric sport utility vehicle, EX30, in South Korea, emphasizing the EV’s extraordinary safety technology and affordable prices to win the hearts of local customers. “EX30 is a premium all-electric vehicle that has everything required to move toward a safer future,” said Lee Yun-mo, CEO of Volvo Cars Korea. “(The EV) has everything that our customers expect from Volvo. Ranging from a new, pure electric powertrain that has achieved

Mobility Nov. 28, 2023

Hyundai Motor Group Executive Chair Chung Euisun has been named the winner of the industry leader category in this year’s Automotive News All-Stars awards, the South Korean automaker said Monday. “This award is in recognition of the entire Hyundai Motor Group family and partners all around the world who have worked so hard and devoted themselves to making sure that we achieve our vision of smart, sustainable mobility and progress for humanity,” Chung said. “Hyundai Motor

Mobility Nov. 27, 2023

Hyundai Motor is sticking to its mission to lead the growth of the electric vehicle sector in Indonesia, pledging to offer a wide range of EV options for customers and set up a complete ecosystem of EVs with charging infrastructure and battery reuse. “Hyundai Motor is a brand that is pioneering and leading the Indonesian EV market,” said Lee Young-tack, president of Hyundai Motor Asia-Pacific Headquarters, in a recent email interview with The Korea Herald. “We plan to establish

Mobility Nov. 26, 2023

South Korean oil refiner S-Oil said Thursday that the company has completed the construction of the Technical Service & Development Center in western Seoul to strengthen its future business areas with sustainability. “The TS&D Center will work to minimize the impact of our products on the environment and to enhance the safety of consumers amid tightening environmental regulations globally and growing consumer expectations of high-quality and green products and it will position itse

Industry Nov. 23, 2023

Hyundai Motor Group on Tuesday held a grand opening ceremony for the Hyundai Motor Group Innovation Center Singapore, a non-traditional vehicle manufacturing facility filled with cutting-edge technologies such as artificial intelligence, automation, data analysis and robotics. As for the question of why the South Korean automaker chose Singapore to build the unprecedented site, Hyundai Motor says the answer lies in the fact that it attracts the world's top talent as a global innovation hub.

Mobility Nov. 23, 2023

ULSAN -- The docks of HD Hyundai Heavy Industries at the shipbuilder’s Ulsan shipyard were filled with ships being built and bustling with workers on Monday morning. Covering 6.35 square kilometers, the Ulsan shipyard is known for having the most dry docks in the world. Building on top of its global in the merchant ship sector, the world's biggest shipbuilder is now looking to expand its naval and special vessel business with state-of-the-art military vessels. “HD Hyundai Heavy

Mobility Nov. 22, 2023

Hyundai Motor Group on Tuesday opened the Hyundai Motor Group Innovation Center Singapore, which aims to transform the traditional auto manufacturing process and move closer to future mobility through automating vehicle production. “Singapore and Hyundai Motor Group have common innovative DNA to move into a better future,” said Hyundai Motor Group Executive Chair Chung Euisun. “Based on this, Hyundai Motor Group is looking to achieve innovation through human-centered technology

Mobility Nov. 21, 2023

SINGAPORE -- When asked to picture an auto-manufacturing plant, one would easily think of multiple assembly lines filled with engineers and vehicle parts being transported to their next destinations. Hyundai Motor Group Innovation Center Singapore, or HMGICS, is anything but that. Built to illustrate the future of vehicle production, the complex resembles more of a high-tech lab, filled with roaming autonomous robots, a massive smart farming system and a dizzying number of digital screens. Hyund

Mobility Nov. 21, 2023

진행자: 간형우, Ali Abbot 1. Suneung to take place Thursday, but without 'killer questions' 기사 요약: 킬러 문항 없이 열리는 수능, 역대급 N수생 몰린다 [1] The Suneung, South Korea's national college entrance exam, is less than a week away, with this year's test seeing a number of changes. *entrance: 입구, 입장 *a number of ~ : 몇 가지의 ~ [2] The Education Ministry in June announced that it would exclude "killer questions" -- excessively difficult questions, the material for which is often not cove

Podcast Nov. 16, 2023

SK Battery America, SK On’s US subsidiary, will furlough workers at its battery plant in Jackson County, Georgia, and cut down production amid the sluggish electric vehicle market, the South Korean battery maker said Tuesday. “SK Battery America is temporarily adjusting its line operations and furloughing a portion of our production employees,” said SK On. “We have taken the decision as a part of our efforts to optimize line operations and workforce management with flexib

Mobility Nov. 14, 2023

Nara Space has successfully launched the Observer-1A, a self-developed commercial cube satellite, becoming the first Korean company to achieve the feat, opening a new chapter for the country’s private space industry. Nara Space said Monday that the Observer-1A's beacon transmission and bidirectional communication had been completed within about an hour and 20 minutes after its ejection from SpaceX’s Falcon 9. The satellite was loaded on the US company’s launch vehicle, whi

Technology Nov. 13, 2023

The Torres EVX, KG Mobility’s all-electric sport utility vehicle boasting well-rounded features, is poised to win the hearts of consumers looking for an affordable, multifunctional SUV powered by electricity. The Korea Herald had a closer look at the electric SUV and got behind the wheel during a test drive over a course of about 66 kilometers on Wednesday. The Korean automaker began mass production of the Torres EVX in early November. At first glance, the Torres EVX has similar vibes to t

Mobility Nov. 12, 2023