Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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'Queen of Tears' riding high on Netflix chart
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With Indonesia unable to pay full share, what’s next for KF-21 fighter project?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Speaker floats dual citizenship as solution to falling births
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[Grace Kao, Meera Choi] Has money displaced romance on dates?
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Police seek arrest warrant for med student who killed girlfriend
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Kia plant completes upgrade for EV production
Hyundai Motor Group’s smaller affiliate Kia’s second auto manufacturing plant in Gwangmyeong, Gyeonggi Province, will resume operation in February, after an eight-month refurbishment to prepare the plant for electric vehicle production, industry sources said Tuesday. The company reportedly announced to the factory’s production line staff, who were on paid leave during the monthslong shutdown, that they would start working from Jan. 30. An official from Hyundai Motor Group confi
Jan. 23, 2024
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Korean EV, battery makers seek leniency on IRA rules
Hyundai Motor Group and Korean battery manufacturers called for leniency in the US electric vehicle tax credit rules blocking battery sourcing from foreign adversaries including China, according to the Federal Register. In public comments submitted to the open-access website for US federal government documents on Thursday, Hyundai said, “It is unlikely that other countries will be able to replace China in the short term,” underscoring the global market’s dependence on the No. 1
Jan. 22, 2024
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1 in 3 new import cars priced over W100m
Nearly 1 in 3 import cars sold last year was priced at 100 million won ($75,000) or over, with their sales hitting a record high despite a slight downturn in the import car market overall. According to the Korea Automobile Importers & Distributors Association on Friday, 78,208 vehicles priced at over 100 million won were sold here last year, an 8.8 percent jump from a year prior. During the same period, the overall import car market suffered a 4.4 percent drop, selling 271,344 vehicles all t
Jan. 19, 2024
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Mercedes-Benz debuts new E-Class, taking cue from Korean drivers
Mercedes-Benz said Friday it is poised to roll out nine new cars in Korea this year, highlighting the strategic importance of the Korean market for the German luxury carmaker. The new lineups include five full-change models – the E-Class sedan, CLE Coupé, CLE Cabriolet, Mercedes-Maybach EQS SUV and electric G-Class – and four face-lift models – the Mercedes-Benz GLS, EQA, EQB and G-Class. One of the key launches is the 11th-generation E-Class sedan, a complete revamp fro
Jan. 19, 2024
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Korea records first-ever drop in fuel-powered vehicle count
South Korea saw its first-ever decline in the overall number of registered fuel-powered vehicles last year, as reported by the Ministry of Land, Infrastructure and Transport on Friday. The total number of registered vehicles powered by gasoline, diesel and liquefied petroleum gas fell by 85,000 to 23.647 million last year. This 0.4 percent decrease, the first since record-keeping began in the 1960s, was mainly driven by a downturn in diesel and liquefied petroleum gas vehicles, despite the regis
Jan. 19, 2024
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Hyundai, Kia post record sales in Europe
Hyundai Motor Company and Kia have set a new record, selling over 1.1 million vehicles in Europe in 2023, the South Korean automakers said Thursday. According to the announcement, Hyundai Motor sold 534,170 units and Kia sold 572,297 units, up 3.1 percent and 5.4 percent on-year, respectively. Together, the two carmakers’ yearly sales increased by 4.3 percent in comparison to the year before. The European Automobile Manufacturers’ Association announced that the European Union's
Jan. 18, 2024
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Global auto market to grow modestly as China leads EV adoption
The global automotive market is projected to grow modestly this year, with a 1.6 percent increase to 84.12 million units signaling a tempered post-pandemic recovery, as global carmakers are looking to adopt strategies from Chinese carmakers to spur mass adoption of electric vehicles, according to Hyundai Motor Group's Business Research Center. Yang Jin-soo, head of the center’s auto industry unit, shared his insights at a seminar hosted by the Korea Automobile Journalists Association
Jan. 18, 2024
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[Photo News] Top auto exporter
General Motors Korea’s Chevrolet Trailblazer, the carmaker’s popular compact sport utility vehicle, claimed the top spot on the list of the most exported cars of 2023, selling 214,048 units in overseas markets, according to the Korea Automobile Manufacturers Association on Thursday. Other top exporters included the Hyundai Kona SUV (212,489 units), the Hyundai Avante compact (206,371 units) and the Chevrolet Trax (181,950 units). (GM Korea)
Jan. 18, 2024
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Hyundai Motor speeds up strategic shift to software-defined mobility
Hyundai Motor Group said Wednesday it has set up a new research and development division in its push for software-defined vehicles by combining several teams across the auto giant's affiliates. The Advanced Vehicle Platform Division integrates three software development units -- its in-house SDV division and two separate teams at the carmaker’s research centers. Other teams working on the next-generation automotive platform and software that used to be under the leadership of the carm
Jan. 17, 2024
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[Photo News] Hyundai, Kia sweep 9 design awards
Hyundai Motor Group said Wednesday that it has won nine Good Design awards this year. Eight cars, including Hyundai’s N Vision 74 sports car, Kia’s EV9 and the Genesis X Convertible, won transportation awards, while Kia’s next-generation infotainment system, called Ki, won an interactive media award. The N Vision 74, inspired by the Pony Coupe Concept, the nation’s first sports car unveiled in 1974, has won all four major design awards, including from iF, the Industrial D
Jan. 17, 2024
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Hyundai ditches China plant to focus on India, Indonesia
Hyundai Motor Group said Wednesday it has sold its Chongqing plant in China to the region’s industrial park developer Yufu Industrial Complex Construction Co. for approximately 1.62 billion yuan ($290 million), as part of a global operational restructuring aimed at shifting focus from volatile markets to expanding in growing Asian countries like India and Indonesia. The sale comes in the wake of the company's dwindling market share in China, which fell to 1.4 percent in 2023. This dec
Jan. 17, 2024
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Samsung SDI buys stake in Canadian nickel miner for battery expansion
Samsung SDI, a leading South Korean lithium-ion battery manufacturer, has acquired a stake in Toronto-based Canada Nickel in a $18.5 million deal to ensure a stable supply of critical battery materials for its expanding North American operations. Announced on the Toronto Stock Exchange on Monday, Samsung SDI will acquire an 8.7 percent stake in the major Canadian nickel mining company. This stake translates into 15.6 million shares. Under the agreement, Samsung SDI not only secures an initial pu
Jan. 16, 2024
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Hyundai Motor eyes W1tr funding for Indian plant
Hyundai Motor Group plans to invest an additional 70 billion rupees ($845 million) into an automotive plant owned by General Motors in Talegaon, India, according to Indian authorities on Tuesday. According to an online post on X, formerly Twitter, uploaded by Devendra Fadnavis, deputy chief minister of the western state of Maharashtra, the Korean auto giant plans to sign a memorandum of understanding for the new funding during this week’s World Economic Forum in Davos, Switzerland. Fadnavi
Jan. 16, 2024
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[KH explains] EV tires: Profit surges, sustainability lags
South Korea's tire industry is booming, with leaders Hankook, Kumho, and Nexen posting impressive financials, thanks largely to the surging demand for electric vehicle tires. However, they face a sustainability dilemma, as the environmental impact of these tires clashes with the green ethos of EVs. Regulatory shifts could also affect future profits. The recent spotlight on Hankook & Company, which owns Hanbook Tire, following a failed takeover bid by MBK Partners, highlighted the sector
Jan. 16, 2024
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[From the Scene] Desert testing drives Hyundai, Kia's US success
CALIFORNIA CITY, California -- If you want to know how Kia's Telluride SUV managed to rank among the top midsize sporty utility vehicles in the US market last year, or how Hyundai and Kia clinched second place in the US EV market behind Tesla following a record sales year, it’s worth taking a closer look at their California Proving Ground, the Korean carmakers’ extensive vehicle testing facility in the Mojave Desert. “Our focus has evolved from primarily testing internal c
Jan. 15, 2024
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[Photo News] Hyundai future adventure on Roblox
Hyundai Motor Group steps into the virtual space with its latest launch, Hyundai Future Adventure, on Roblox. Unveiled Monday, the game aims to captivate younger audiences by presenting Hyundai's mobility technologies in Roblox, the popular virtual gaming platform frequented by Generation Alpha and Generation Z. In the image is a Hyundai Roblox avatar in the center flanked by Boston Dynamics' robots Spot and Atlas on the right, with DAL-e, the service robot, on the left, as Hyundai
Jan. 15, 2024
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SK Ecoplant bolsters ties with Nevada on batteries, e-waste recycling
SK Ecoplant, the construction arm of South Korea’s second-largest conglomerate SK Group, said Monday it will boost business ties with the US state of Nevada on electric vehicles and electronic waste recycling. SK Ecoplant CEO Park Kyung-il met with Governor of Nevada Joe Lombardo on Sunday at the company’s recycling subsidiary TES in Las Vegas. The two leaders looked around the e-waste recycling plant and discussed TES’ e-waste business, battery recycling technology and global
Jan. 15, 2024
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Samsung SDI outpaces Korean rivals in US tax credits
Samsung SDI has outpaced its Korean rivals by supplying batteries to the largest number of electric vehicles under the heightened US EV tax credit regulations that went into effect Jan. 1, according to industry sources on Sunday. Of the 19 EVs eligible for the new incentive rules this year under the Inflation Reduction Act, 15 car models will use Korea-made batteries, while China’s CATL and AESC Group, which made the cut last year, have been removed from the list. Samsung SDI topped the li
Jan. 14, 2024
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[Photo News] Renault brand chief in Korea
Renault Brand CEO Fabrice Cambolive looks around the production lines of the French carmaker’s Busan plant last week. Cambolive was visiting Korea to inspect local operations, especially the development work of the “Aurora 1” project, the carmaker’s new hybrid sport utility vehicle. “Renault is preparing for a new phase in the Korean market this year. … (The Aurora 1) will certainly be a vehicle that meets the high expectations of Korean and international con
Jan. 14, 2024
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LG Electronics opens 1st overseas EV charger plant in US
LG Electronics Inc. said Saturday that it has opened its first plant in the US for electric vehicle charging stations, as part of its strategy to advance into the fast-growing EV charging solutions business. The factory based in Fort Worth, Texas, has an annual capacity of over 10,000 units, according to LG Electronics. LG said earlier its 11 kilowatt wall-mounted and stand-type slow chargers, and 175 kW fast-charging models will be available in the US market in the first half of 2024. The compa
Jan. 13, 2024