Articles by Kan Hyeong-woo
Kan Hyeong-woo
hwkan@heraldcorp.com-
Record earnings propel Hyundai Motor to conduct most promotions ever
Hyundai Motor Group promoted 252 executives on Wednesday, the largest upper-level promotion ever in the company’s history, on the back of its record-high earnings this year as it looks to find future mobility leaders. Hyundai Motor said the promotions focused on preparing for the future as it speeds up its generational shift in leadership. Among the promoted, there are 197 newly appointed executives, of which some 38 percent are in their 40s. The conglomerate's proportion of those in their
Mobility Dec. 20, 2023
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Hyundai Motor to sell auto plant in Russia
Hyundai Motor Group said Tuesday it has decided to sell its entire shares of its car manufacturing plant in Russia, which has been temporarily shut down because of Russia's invasion of Ukraine, to a Moscow-based company, ending a decadelong operation. The carmaker’s board of directors approved selling Hyundai Motor Manufacturing Russia in St. Petersburg, along with a General Motor plant it acquired in 2020 to the Russian automotive service firm Art-Finance. “We have reviewed var
Mobility Dec. 19, 2023
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Hyundai Motor donates W35b to charity
Hyundai Motor Group said Tuesday that it has donated 35 billion won ($26.8 million) to Community Chest of Korea, a nonprofit organization and state-sanctioned charity. The South Korean auto conglomerate has taken part in CCK’s year-end campaign for helping the underprivileged since 2003. Hyundai Motor said it increased this year’s donations by 10 billion won. According to the company, the auto giant’s accumulated amount of donations reached 394 billion won as of this year. &ldq
Mobility Dec. 19, 2023
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Korean battery, clean energy firms expected to benefit from US tax incentives
South Korean battery and energy firms that have already built production sites in the United States are expected to receive tax credits from the US Inflation Reduction Act, Korea's Ministry of Trade, Industry and Energy said Friday. The US Department of Treasury earlier unveiled proposed guidelines for manufacturers looking to receive consumer tax credits for making eco-friendly energy components such as batteries for electric vehicles and solar panels. The incentive, named the Section 45X Advan
Industry Dec. 15, 2023
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Hyundai Kona EV remains eligible for French EV incentives
Hyundai Motor's all-electric compact sports utility vehicle, the Kona Electric, will continue to be eligible for cash incentives offered by the French government to buyers of electric vehicles. Paris on Thursday released a list of 78 EVs from 22 brands eligible for the government incentives. According to the announcement, Kona was the only Korean vehicle that remained eligible, whereas Kia’s two hybrid vehicles -- the Niro and Soul -- were excluded from the list. The new eligibility l
Mobility Dec. 15, 2023
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Kia to unveil 5 new concept cars at CES 2024
Kia will present its future sustainable mobility strategies and unveil five new concept vehicles for the first time at the CES tech show in Las Vegas early next month, the Korean automaker said Thursday. Returning to CES for the first time since 2019, Kia said it will redefine the “Purpose-Built vehicle,” or PBV, the brand’s total mobility solution, to “Platform Beyond Vehicle” to offer experience-based values that suggest new business and lifestyles. The automaker
Mobility Dec. 14, 2023
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[KH Explains] HMM sell-off talks enter stormy waters
The attempt to sell off South Korea’s largest container shipper HMM has been delayed while the two bidders -- Dongwon Group and Harim Group -- continue to battle over the bidding process. Dongwon last week filed a complaint over the fairness of the bidding process and raised the possibility of taking legal action if the state-run Korea Development Bank and the Korea Ocean Business Corporation, the owners of 39.879 million shares in HMM, accept Harim Group’s proposal, which has reques
Industry Dec. 14, 2023
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HD Hyundai to bolster ties with Saudi Arabia
South Korean shipbuilding and heavy industries conglomerate HD Hyundai is looking to further strengthen its business ties with Saudi Arabia. HD Hyundai Vice Chairman Chung Ki-sun on Wednesday met with two high-ranking officials from Saudi Arabia -- Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef and Saudi Industrial Development Fund CEO Sultan Bin Khalid Al Saud -- at the headquarters of HD Hyundai Heavy Industries in Ulsan. Chung was accompanied by HD Hyundai Oilbank CEO
Industry Dec. 13, 2023
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[단독] 르노코리아, 내년 대대적인 리브랜딩 예고
[코리아헤럴드=간형우, 변혜진 기자] 르노코리아자동차가 내년 본격적인 리브랜딩에 나선다. 4년 간의 공백을 깨고 새로 출시할 중형 하이브리드 SUV(스포츠유틸리티 차량)를 시작으로 ‘구식’ 브랜드 이미지를 탈피하고 한국과 글로벌 시장을 공략한다는 구상이다. 르노코리아자동차 스테판 드블레즈 사장은 최근 코리아헤럴드와의 인터뷰에서 “내년 가장 중요한 두 가지 사업은 브랜드 이미지 제고와 2분기 오로라1(가칭) 차량 출시”라며 “지난 22년 간 우리는 (한국 시장에서도) 유럽 중심적인 차량을 선보였기 때문에 프랑스 자동차제조사의 정체성과 한국 소비자의 요구를 조화롭게 융합하는 데 실패했다”고 말했다. 이어 그는 “르노삼성자동차 시절 삼성의 헤리티지 덕분에 SM5, QM6, QM3 등 르노 자동차의 브랜드 이미지가 좋았다”면서도 “하지만 시간이 흐르면서 르노는 구식이라는 인식이 강해졌고 신선한
한국어판 Dec. 11, 2023
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Porsche Korea CEO named honorary Seoul citizen
Porsche Korea CEO Holger Gerrmann has been appointed as an honorary foreign citizen of Seoul, the German automaker's Korean office said Monday. "Blending historical landmarks and modern cityscapes and combining vibrant cultural diversity, Seoul is a city that inspires dreamers and is full of positive energy for the future," Gerrmann said in a statement. "As a representative of the corporate citizens and a citizen of Seoul, I will continue to fulfill my social responsibilities
Mobility Dec. 11, 2023
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[Herald Interview] Renault Korea prepares for major changes from 2024
Renault Korea Motors is pinning high hopes for next year to be the beginning of a complete turnaround after years of struggle, as the French automaker has big plans for 2024 and beyond, its CEO says. “Next year, we will have two big events. One related to the brand uplift and one related to the launch of the Aurora 1,” said Renault Korea Motors CEO Stephane Deblaise in an interview with The Korea Herald at the automaker’s office in Seoul on Dec. 5. The Aurora 1, codenamed AR1,
Mobility Dec. 10, 2023
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BMW, Mercedes-Benz duel to be No. 1 importer in Korea
The race to be South Korea’s top auto importer is coming down to the wire as BMW tries to reclaim the No. 1 position from Mercedes-Benz for the first time since 2015. According to the Korea Automobile Importers and Distributors Association’s report released Tuesday, BMW sold 69,546 vehicles in the Korean market from January to November. Mercedes-Benz sold 68,156 units in the same period, 1,390 cars less than BMW. The bestselling models of the two German automakers are the BMW 5 Serie
Mobility Dec. 6, 2023
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Korean defense firms head to Egypt defense expo to expand market presence
South Korean defense firms are looking to expand their market presence in Africa and the Middle East as they showcase their latest cutting-edge weapons systems at the Egypt Defense Expo 2023 taking place at the country’s international exhibition center in Cairo this week. According to Korea Aerospace Industries and LIG Nex1 on Tuesday, the two companies participated in the EDEX for the first time this year. Korea Aerospace Industries, also known as the KAI, said it will concentrate on in
Industry Dec. 5, 2023
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Hanwha inks $2.6b deal to ship more K9 howitzers to Poland
Hanwha Aerospace said Monday it has signed a $2.6 billion contract (3.45 trillion won) to ship 152 K9 self-propelled howitzers to Poland through 2027, taking the next step in the arms deal signed between the two sides last year. The South Korean defense firm and the Polish State Armament Agency agreed on a framework to export Hanwha Aerospace’s 672 units of K9 self-propelled howitzers and 288 units of the multi-caliber rocket artillery system, K239 Chunmoo, in July 2022. Later in the sam
Industry Dec. 4, 2023
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Hyundai Motor chief reaffirms commitment to support Korean archery
Hyundai Motor Group Executive Chair Chung Euisun on Friday reiterated the automaker’s unwavering support for Korean archery, emphasizing the need to find ways for archery to contribute to the society. “In the mid to long term, (we) should put in effort to (bring archery) closer to the public and we must think about how archery can contribute to our society and act on it,” said Chung at an event held at Grand Walkerhill Seoul to commemorate the 60th anniversary of South Korean a
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