LG Energy Solution has joined hands with Novonix, an Australian battery materials and technology firm, to strengthen the supply chain of a core battery material in North America, the South Korean battery maker said Wednesday. According to the announcement, LG Energy Solution signed a joint development agreement with Novonix to co-develop artificial graphite, a core anode material in making lithium-ion batteries for electric vehicles. Novonix also agreed to issue $30 million worth of unsecured no

Industry June 7, 2023

Mercedes-AMG, the high-performance brand under German auto giant Mercedes-Benz, is well known for crafting luxurious motorsports-inspired vehicles with monstrous engines. And the brand has kept these signature traits for its EQ lineup, boasting the fastest acceleration among Mercedes EVs. Mercedes-Benz Korea hosted a media test drive at the AMG Speedway in Yongin, Gyeonggi Province, last week. With a 4.3-kilometer circuit with 17 turns, the AMG Speedway is the world’s first track to bear t

Mobility June 7, 2023

South Korea’s maritime defense industry leaders, Hanwha Ocean and HD Hyundai Heavy Industries, are bracing to face off at the upcoming International Maritime Defense Industry Exhibition, or MADEX 2023, in Busan later this week. The biannual event will begin its three-day journey at the Busan Exhibition and Convention Center on Wednesday. According to the floor plan, the exhibition booths of Hanwha Ocean and HD Hyundai Heavy Industries will be next to each other, located in the center of th

Industry June 5, 2023

Netmarble announced Thursday that it will launch three new titles in the second half of this year as the South Korean mobile game giant seeks a turnaround after five consecutive quarters of operating losses. The three games slated to be released in the upcoming months are Tower Of God: New World, Grand Cross: Age of Titans and Seven Knights Idle Adventure. “The three games we are introducing today each have an easy level of gameplay as well as immersive storylines that were fully created o

Technology June 1, 2023

진행자: 간형우, Naomi Garyan 1. [Weekender] Luxury labels target teens 기사 요약: 국내 10대 소비자들 대상으로 마케팅 강화하는 명품 브랜드와 이에 맞춰 명품 소비 늘리는 10대 고객들 [1] While it's not breaking news that luxury fashion houses have been broadening their customer bases to younger customers, teenagers have risen as a new lucrative target demographic for such brands. *broaden: 넓히다, 퍼지다 *lucrative: 수익성이 좋은, 돈이 되는 [2] More teenagers are purchasing high-end goods -- everything from lower-priced luxury beauty products and shoes to

Podcast June 1, 2023

Mercedes-Benz Korea said Wednesday that Mathias Vaitl, who currently heads the German automaker's online platform Mercedes Me, as well as their digital service business and e-commerce, has been tapped as the new CEO of the company's Korean office. According to the announcement, Vaitl will begin his tenure at the Seoul office on Sept. 1. "I am very excited to take the role of CEO of Mercedes-Benz Korea, the 4th largest market and one of the most dynamic and trend-setting markets in

Mobility May 31, 2023

Applause filled the press briefing room at the Naro Space Center in South Jeolla Province on the evening of May 25 as government officials, business representatives and reporters lauded the successful launch of South Korea’s homegrown Nuri rocket. The mission validated the country’s capability to place a satellite into targeted orbit, upgrading Korea’s space competency from the previous launch which had succeeded in delivering a dummy satellite into orbit in June last year. Dan

Politics May 31, 2023

South Korean health care company Boryung has launched a global space initiative to advance human activities in space with industry-leading partners, the company said Tuesday. Boryung has joined hands with Axiom Space, a US commercial space station developer, and the Space Exploration Initiative, a research institute at the Massachusetts Institute of Technology, for the Humans in Space program. The HIS program marks the second global-scale space project for Boryung, after the South Korean health

Technology May 30, 2023

A joint venture project between Posco Future M and General Motors has secured 300 million Canadian dollars ($221 million) in funding from Canada to build an electric vehicles' battery materials plant. The provincial government of Quebec and the Canadian federal government on Monday announced the financial support plan to aid the joint venture project, named Ultium CAM, to construct the country's first cathode production factory. The public investment is aimed at strengthening the supp

Industry May 30, 2023

Hyundai Motor Group has reportedly recruited Kim Il-bum, a former presidential secretary, to strengthen its global public affairs competency, according to sources on Tuesday. Kim, who resigned from the presidential secretary position in March, is expected to begin working as an executive vice president at the auto giant in July. He is expected to help the company cope with challenging tasks amid a global supply chain crisis and bolster networks with foreign governments. "We are aware that t

Mobility May 30, 2023

South Korea’s consecutive successes with the homegrown Nuri rocket and lunar orbiter Danuri have led to the government’s ambitious road map to land on the moon in 2032 and on Mars in 2045. While the spotlight has been shining on rockets and satellites, less attention has been paid to the sector of space robotics. Unmanned Exploration Laboratory, a Korean startup led by a young CEO, is working relentlessly to develop lunar-roving vehicles as the country’s only player to make suc

Technology May 29, 2023

The all-new Kona Electric -- Hyundai Motor’s latest all-electric compact sport utility vehicle -- is looking to lure customers with a roomier interior, longer driving range and sound riding experience. The South Korean automaker on Tuesday held a test drive event for local journalists to ride the Kona EV over a 172-kilometer-long course beginning from Hanam, Gyeonggi Province and ending in Sokcho, Gangwon Province. At first glance, the all-electric SUV did not appear too “compact.&rd

Mobility May 26, 2023

GOHEUNG, South Jeolla Province -- South Korea successfully conducted the third launch of the homegrown Nuri rocket Thursday, as the satellite launch vehicle reached the targeted altitude and released satellites into orbit, marking another space milestone for the country. “Following the success of the Nuri rocket’s second launch last year, today’s third launch affirmed the Nuri rocket’s flight capability and secured reliability. At the same time, it was a chance to reaffir

Technology May 25, 2023

GOHEUNG, South Jeolla Province -- South Korea postponed the third launch of the homegrown Nuri rocket due to a software error during the preparation process, the Ministry of Science and ICT said Wednesday. “During the checkup on the low-temperature helium valve control, a problem occurred in the communication between computers that control the launch operation and the launch pad’s equipment. The valve itself did not have any issues as it could be operated manually. But once the valve

Technology May 24, 2023

Hanwha Group, South Korea’s seventh-largest conglomerate, stands at the forefront of the country’s efforts to grow and nurture its space industry, as Hanwha Aerospace became the first system integration company to lead the launch of the homegrown Nuri rocket. Hanwha Aerospace won the government bid in December to take charge of upgrading the Nuri rocket, also known as Korea Satellite Launch Vehicle-II, and launching it four times through 2027. The company signed a contract worth appr

Industry May 24, 2023