Articles by Moon Joon-hyun
Moon Joon-hyun
mjh@heraldcorp.com-
SUV sales near double of sedans in S. Korean market
Sport utility vehicle sales in the South Korean market are projected to surpass 900,000 units in 2023 for the first time, marking a significant milestone as SUV sales rapidly approach double that of sedans. There were 856,362 new SUV registrations, including recreational vehicles, in the first 11 months of 2023, data from the Transport Ministry analyzed by the CarIsYou data lab showed Monday. This exceeds the 837,948 SUV units sold throughout 2022 and represents the highest annual total since 20
Industry Dec. 18, 2023
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Hyundai Motor, UAE fund team up on hydrogen, future mobility
Hyundai Motor Co. and Mubadala Investment Co., the United Arab Emirates sovereign wealth fund, have entered into a partnership set to advance projects in hydrogen energy, green aluminum production, eco-friendly mobility solutions, and advanced air mobility. This agreement was sealed at a signing ceremony in Abu Dhabi's Mubadala Tower on Friday, with Chang Jae-hoon, president and co-CEO of Hyundai Motor, and Waleed Al Mokarrab Al Muhairi, the deputy group CEO of the Investment Committee at
Industry Dec. 17, 2023
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KG Mobility to produce Torres EV in Saudi Arabia
KG Mobility, formerly SsangYong Motor, and Saudi National Automobiles Manufacturing Company, a licensed producer of international and domestic automobiles, signed a partnership agreement on Friday to assemble the carmaker's Torres EVX electric vehicle in Saudi Arabia. The agreement expands an existing deal between the companies for SNAM to manufacture KGM's internal combustion engine vehicles. Under the new pact, SNAM will augment production capabilities to assemble the all-electric To
Mobility Dec. 17, 2023
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Hyundai Engineering aims to export Korean-made SMRs
Hyundai Engineering and the Korea Atomic Energy Research Institute on Monday formalized an agreement to export Korean-made small modular reactors internationally, beginning with a project in Canada. Hyundai Engineering CEO Hong Hyeon-sung and KAERI President Joo Han-gyu signed the agreement at the institute's Daejeon headquarters to globally promote Korea’s System-integrated Modular Advanced Reactor, or "Smart." Under this partnership, Hyundai Engineering will spearhead busi
Industry Dec. 13, 2023
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Posco Future M joins top ESG performers in Asia Pacific
Posco Future M, a South Korean producer of battery materials, has newly joined the 2023 Dow Jones Sustainability Indices Asia Pacific Index in recognition of its commitment to sustainability and responsible business practices, the company said Tuesday. The DJSI, published annually by S&P Global, serves as a benchmark for investors globally, evaluating companies based on their economic, environmental, social and governance performance. The inclusion in the Asia Pacific Index positions Posco
Industry Dec. 12, 2023
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Hyundai, Kia file patent for 'automatic' snow chains
Hyundai Motor and its sister company Kia on Monday unveiled a new tire technology that promises to improve winter driving safety and convenience by offering an automatic, hassle-free alternative to traditional snow chains. The patented technology integrates snow chains into the tire using a shape memory alloy. Traditional snow chains, known for their cumbersome installation and removal process, often deter drivers from using them. This new technology enables automatic deployment and retraction o
Mobility Dec. 11, 2023
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LIG Nex1 acquires majority stake in Ghost Robotics
South Korean aerospace and defense firm LIG Nex1 has decided to acquire a 60 percent stake in American quadruped maker Ghost Robotics for some 315 billion won ($240 million) to secure a future growth platform and penetrate the US defense market. In a regulatory filing on Dec. 8, LIG Nex1 disclosed its plan to purchase the controlling stake in Ghost Robotics. For the deal, the Korean company will inject 187.7 billion won into LNGR, a specially formed entity provisionally named for this acquisitio
Industry Dec. 10, 2023
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LG's new research promises potential for 900km-range EVs
LG Energy Solutions and the nation's top-ranked Korea Advanced Institute of Science and Technology have made a significant discovery in lithium metal battery technology, as revealed in a research paper in the prestigious journal Nature Energy, potentially increasing electric vehicle range by 50 percent and drastically enhancing battery efficiency and lifespan. The discovery stems from a collaboration that began over two years ago at the Frontier Research Laboratory, a joint venture between
Mobility Dec. 7, 2023
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[From the Scene] Doosan to double output of 'cobots' with advanced but cheaper sensors by 2024
Doosan Robotics, seemingly buoyed by its high-profile stock debut last month, on Tuesday invited a group of reporters to its Suwon plant in Gyeonggi Province, the production base of the nation’s largest robotics company. “At Doosan Robotics, we aim to revolutionize work by developing cobots for augmenting human efforts with great precision, safety and high cost-effectiveness to help address labor shortages across numerous sectors more accessibly," said Ryu Jung-hoon, CEO of Doos
Industry Dec. 7, 2023
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Ex-LH CEO nominated as land minister
Park Sang-woo, the former CEO of the Land and Housing Corporation (LH), has been nominated as the new minister of land, infrastructure and transport, according to the presidential office on Monday. Having joined the ministry in 1983, Park boasts expertise in land and transport policy for decades. He is known to have played a role in shaping housing policies during the Lee Myung-bak and Park Geun-hye administrations. He also served as the head of the state-run housing agency between 2016 and 2019
Economy Dec. 4, 2023
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Hanwha sets W1.4tr goal in battery equipment sales by 2027
Hanwha Momentum, a supplier of manufacturing facilities and equipment for batteries, solar panels and displays, hosted its 2023 Hanwha Battery Day on Monday to reveal the company's strategies and technological road map in response to burgeoning global demand for secondary battery manufacturing equipment. During the event, CEO Yang Ki-won unveiled an ambitious target of 1.4 trillion won ($1.07 billion) in sales solely from secondary battery process equipment solutions by 2027. The company&
Mobility Dec. 4, 2023
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Kia's EV9 wins multiple global accolades
Kia's latest large full-electric sport utility vehicle, the EV9, is garnering a slew of global accolades, clenching three major awards and several nominations for major North American and World Car of the Year honors. Kia on Sunday announced the EV9's win of the 2024 Danish Car of the Year's Innovation Award from Danske Motorjournalist, Denmark’s Automobile Journalists Association. In Spain, the car was also named the Moveo Car of the Year 2023 by La Vanguardia, gaining reco
Mobility Dec. 3, 2023
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Hyundai Mobis develops world’s first quantum dot car display
Hyundai Mobis, a South Korean auto parts maker affiliated with Hyundai Motor Group, unveiled on Thursday that it has developed the world's first quantum dot display for automobiles with local dimming technology, offering a lower-cost alternative to organic light-emitting diode displays commonly found in luxury vehicles. It marks Hyundai Mobis' entry into the high-end automotive display arena, positioning its quantum dot innovation as a challenger to pillar-to-pillar OLED display format
Mobility Dec. 2, 2023
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Chung Mong-joon pays tribute to Henry Kissinger
Chung Mong-joon, the honorary chairman of the Asan Institute of Policy Studies, paid tribute on Thursday to the late Henry Kissinger, expressing deep sorrow over his passing that was announced late Wednesday. “Henry was a giant in global affairs; his insight and dedication have left an indelible mark on how we approach international peace and stability," said Chung in a statement. Renowned for his role as the national security adviser and secretary of state during the Richard Nixon an
Companies Nov. 30, 2023
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KT SAT to integrate Starlink for rapid, robust maritime internet
KT SAT, Korea's sole satellite service provider, announced Wednesday its plan to enhance its maritime communications service by integrating SpaceX's Starlink satellite technology. With this integration, KT SAT aims to address the growing demand for more robust and higher-speed internet at sea, driven by factors such as increased data usage on modern, sensor-equipped ships for optimizing routes and remote technical assistance. Starlink's network promises high-speed, low-latency per
Industry Nov. 29, 2023
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