Electric vehicle battery manufacturers are bracing for increased scrutiny as South Korea considers new regulations requiring automakers to disclose their battery suppliers for each vehicle model, following a series of EV-related fires including a blaze in Incheon that damaged 100 vehicles. The car in the Incheon fire was a Mercedes-Benz equipped with a battery from Farasis, a Chinese manufacturer ranked 10th in the world by revenue. The exact cause of the fire -- whether it stemmed from the batt

Mobility Aug. 12, 2024

Hyundai Motor Group is addressing public safety concerns over electric fires in Korea by disclosing the battery manufacturers for its electric vehicle lineup and implementing enhanced safety features. It has listed the battery manufacturers for all 13 Hyundai and Genesis EVs on its official Korean website. According to the carmaker, most of the Hyundai EVs, including the flagship Ioniq brand cars, used batteries from Korea’s LG Energy Solution and SK On. Hyundai’s Kona Electric was t

Mobility Aug. 11, 2024

Nexon has set a new record for second-quarter revenue and operating profits, driven by the exceptional performance of Dungeon & Fighter Mobile in China, which launched in May earlier this year. In its latest filing to the Tokyo Stock Exchange on Thursday, Nexon reported a 64 percent year-over-year increase in operating profit, reaching 45.2 billion yen ($310.2 million) for the second quarter of this year. Revenue for the quarter surged 30 percent to 122.5 billion yen, and net income rose 63

Companies Aug. 8, 2024

"No EVs permitted in underground parking areas." These signs have recently popped up at some apartment complexes and office buildings across South Korea, a response to a severe fire earlier this month. An electric vehicle ignited in the underground parking lot of an apartment building in Cheongna International City, Incheon, triggering widespread fear and leading some apartment managers to ban EVs from these spaces entirely. The fire began with a stationary, uncharging Mercedes-Benz EQ

Mobility Aug. 8, 2024

Krafton, the South Korean game developer behind PUBG: Battlegrounds, said Tuesday it had appointed Oh Jin-ho, a seasoned executive with experience at Riot Games and Blizzard Entertainment, as its new chief global publishing officer. Oh's extensive background includes major roles such as general manager of Riot Games and president of Blizzard Entertainment Korea and Southeast Asia, where he was instrumental in localizing and launching blockbuster games like World of Warcraft and StarCraft. O

Companies Aug. 6, 2024

Hyundai Glovis has partnered up with Chinese firm Huayou Cobalt to create an extensive recycling network for electric vehicle batteries, aiming to lead the way in sustainable battery management. Hyundai Glovis, a Korean logistics and distribution powerhouse, inked a memorandum of understanding with Zhejiang Huayou Recycling Technology, or Huayou Recycling, a subsidiary of cobalt giant Huayou Cobalt. Known for being the world's top producer of cobalt -- a crucial element for EV batteries --

Mobility Aug. 5, 2024

Shift Up, the South Korean game developer behind blockbusters such as “Goddess of Victory: Nikke” and “Stellar Blade,” made an exhilarating debut on South Korea’s KOSPI market on July 11. The buzz within the Korean game industry revolved around whether Shift Up could challenge the market dominance of NCSoft, a veteran giant in the sector. On its debut, Shift Up’s stock surged to 89,500 won, boosting its market capitalization to nearly 5.2 trillion won ($3.

Companies Aug. 4, 2024

As the US government intensifies efforts to regulate Chinese technology in connected vehicles over national security concerns, South Korea and other key allies are coordinating to balance these security goals with potential supply chain disruptions. The US State Department convened a meeting Wednesday with representatives from allied governments and industry leaders, including officials from South Korea, Australia, Canada, the European Union, Germany, India, Japan, Spain and the United Kingdom.

Mobility Aug. 2, 2024

The Korean automotive electric parts sector is thriving even as electric vehicle sales slow down, driving significant gains for Samsung Electronics and LG Electronics in the second quarter. Automotive electric parts encompass a range of components integral to modern vehicles, particularly electric and hybrid models. These include infotainment systems offering multimedia and connectivity features, digital cockpits replacing analog gauges with digital displays and premium car audio systems from

Mobility Aug. 1, 2024

LG Energy Solution and Samsung SDI are nearing mass production of the 46-series cylindrical battery, which is anticipated to be the next generation in battery technology. Samsung SDI is accelerating its timeline, aiming to start mass production of the 46-series cylindrical batteries in early 2025, over a year ahead of the initial schedule. The company has already set up a production line at its plant in Cheonan, South Chungcheong Province, and is rolling out prototypes for major clients, includi

Industry July 31, 2024

“I will end the electric vehicle mandate on day one.” With Donald Trump gaining traction as the Republican presidential candidate, this declaration at the Republican National Convention in Milwaukee on July 18 has sent ripples of concern through the South Korean automotive and battery industries. The potential implications of Trump’s return to the White House, coupled with his protectionist and anti-EV stance, have companies like Hyundai-Kia and major Korean battery makers brac

Mobility July 30, 2024

Korean marine engine maker STX Heavy Industries has officially been rebranded as HD Hyundai Marine Engine under the umbrella of HD Hyundai. At a shareholders' meeting held on Tuesday, all proposed agenda items were approved, including amendments to the articles of association, a name change and the election of new directors. President Kang Young, appointed as the first CEO, brings a wealth of experience from his tenure at HD Hyundai Heavy Industries, where he joined in 1992. He has held var

Industry July 30, 2024

SK Group and SK On are reportedly fast-tracking their collaboration with China’s Zhejiang Geely Holding Group, a leading multinational automotive conglomerate. Industry sources reported that executives from Geely Auto responsible for technology, research and development, and international cooperation, visited SK Building headquarters in Seoul on Monday. The delegation, which included the CEO of Zeekr, Geely Auto’s premium EV brand, met SK Group Executive Vice Chairman Chey Jae-won an

Mobility July 30, 2024

Renault Korea’s latest mid-size hybrid SUV, the Renault Grand Koleos, is showing a promising start following its debut at the 2024 Busan Mobility Show last month, reporting over 10,000 contracts signed within the first month. According to Renault Korea, more than half of Grand Koleos buyers are in their 40s and 50s, a demographic seeking fuel-efficient family cars. This trend reflects a broader market shift in the Korean market, where hybrid vehicles have grown significantly. According to

Mobility July 29, 2024

Samsung Electronics Chairman Lee Jae-yong has embarked on a business trip to Paris to leverage the 2024 Paris Olympics to strengthen ties with key global business partners, political figures and sports leaders, the company said Sunday. Since arriving in Paris last Wednesday, Chairman Lee has engaged in a series of high-level business meetings. This marks his first attendance at the Olympics since the 2012 London Games. His agenda includes discussions with leaders from the semiconductor, IT and a

Companies July 28, 2024