Passenger travel on S. Korea-China routes at half of pre-THAAD row

Passenger travel on air routes connecting to China in August recovered to around half of the 2016 level before Beijing restricted travel to South Korea in 2017 over a row over Seoul's hosting of a US missile defense system, data showed Sunday. The number of travelers on such routes came to 931,272 in August, which accounts for around 45 percent of the 2.06 million posted in the same month of 2016, according to the Ministry of Land, Infrastructure and Transport. In 2017, China banned group t

Sept. 17, 2023

Posco Holdings to boost EV battery value chain integration

Posco Holdings said on Friday it has reduced its dependence on China by strengthening the integration of its electric vehicle battery value chain that covers mining and refining minerals, manufacturing materials and recycling batteries. “It’s almost impossible to be a top-tier firm in the battery materials business without the vertical integration of manufacturing,” said Nam Sang-cheol, head of the research and development division at Posco Holdings, during the Korea Advanced B

Sept. 15, 2023

EcoPro vows to accelerate closed-loop EV battery recycling

South Korean battery materials manufacturer EcoPro said Friday it will boost its closed-loop electric vehicle battery recycling business amid rising concerns over battery waste disposal. Closed-loop recycling refers to the process that can convert a used product back into raw materials to create a new version of the same product. EcoPro operates a battery recycling value chain called Eco-battery Pohang Campus in North Gyeongsang Province where its six subsidiaries -- EcoPro CnG, EcoPro Innovatio

Sept. 15, 2023

‘Korean battery makers to catch up with Chinese rivals by 2025’

South Korea’s top three battery makers are highly likely to see a surge both in sales and operating profits despite their reduced market share in the global electric vehicle battery market, which is dominated by Chinese rivals, according to market tracker SNE Research on Thursday. “Due to China-made low-priced lithium iron phosphate (LFP) batteries, LG Energy Solution, Samsung SDI and SK On’s combined market share worldwide dropped from 30.4 percent in 2021 to 23.8 percent in t

Sept. 14, 2023

Hyundai Motor, labor union reach tentative agreement on wage increase

Hyundai Motor Group said Wednesday it has signed a tentative wage agreement with the company’s labor union, extending their strike-free negotiation streak to five consecutive years. The management and labor union members including Lee Dong-suk, president of the domestic production department at Hyundai Motor Group, and the company’s union representative Ahn Hyun-ho carried out the 21st round of negotiations at the Ulsan plant on Tuesday. The key agendas on the table were the wage hik

Sept. 13, 2023

[Photo News] McLaren 750S unveiled

Head of Asia Pacific at McLaren Charlotte Dickson (second from left), McLaren Seoul CEO Lee Tae-heung and other executives pose for a photo next to the McLaren 750S to celebrate its launch in Korea, in Seocho-gu, Seoul on Wednesday. The spider model features a more advanced weight-saving option, powertrain performance and dynamic driving experience than the renowned 720S coupe, according to the company. “With the new 750S, the British luxury sports car brand plans to expand its footing in

Sept. 13, 2023

Incheon Airport plans W1.2tr massive renovation

Incheon Airport's Terminal 1 will undergo a 1.2 trillion won ($903 million) refurbishment starting from next year, the airport's operator said Wednesday. Separately, it added that it would seek to attract Chinese travelers, whose travel demand is expected to surge amid China’s recent lifting of a group travel ban to South Korea. “After conducting an open survey of Terminal 1’s facilities’ operational status, Incheon Airport will conduct a comprehensive repair of

Sept. 13, 2023

[Test Drive] Mercedes-Benz’s new CLE Coupe not your average 2-door

SAN SEBASTIAN, SPAIN -- If someone were asked to talk about the traits of a regular two-door coupe, words like quick, slick and compact might come to mind. Mercedes-Benz is looking to change these norms with the launch of its new CLE Coupe. The Korea Herald got to experience the new CLE Coupe 450 4 Matic first hand during a global media test drive event held in the northern Spanish city of San Sebastian from Aug. 31 to Sept. 1. The vehicle's facade embodies both athleticism and elegance, wi

Sept. 13, 2023

LG Energy Solution makes big ESS push in US

LG Energy Solution said Tuesday it will expand its footing in the burgeoning energy storage systems market in the US. ESS refers to a device or group of devices assembled to convert the electrical energy from power systems and into energy that can be stored for later use. It can be used in a variety of settings ranging from power grids to commercial buildings and residences. The company has unveiled its latest ESS business vision and technologies at the Re+ 2023, one of the biggest renewable e

Sept. 12, 2023

[KH Explains] Hyundai Motor feels cost pinch of ‘French IRA’

Hyundai Motor Group, having already spent billions of dollars to respond to the US Inflation Reduction Act, is tackling another protectionist policy looming large in Europe, a crucial market for the carmaker’s extensive EV strategy. The French government recently announced its new EV subsidy policy, which is based on measuring the carbon footprint throughout the whole process of car manufacturing from production to shipping. Carmakers importing EVs to France from their faraway home countri

Sept. 11, 2023

[Photo News] Education for children

BMW Korea Future Fund said Monday that it recently carried out special education activities for elementary school students in areas of North Gyeongsang Province and the Chungcheong Provinces damaged by the heavy rainfall in July. The free education programs, which allowed students to assemble a miniature version of BMW's all-electric vehicle, and gave them the chance to think about global warming, were offered to 238 students at five schools from Aug. 30 to Sept. 8. (BMW Korea)

Sept. 11, 2023

[Photo News] 'Busan is Ready'

Two of Hyundai Motor Group’s flagship electric vehicles, the Ioniq 5, are covered with graffiti reading “Busan is Ready” in front of Qutub Minar, a UNESCO World Heritage Site in South Delhi, India, Sunday. Designed by graffiti artist Jay Flow, the cars drove by iconic landmarks around New Delhi during the 18th G-20 Summit over the weekend to promote Busan’s bid to host the 2030 World Expo. (Hyundai Motor Group)

Sept. 10, 2023

Hyundai Motor chief reviews EV strategy in Indonesia

Hyundai Motor Group Executive Chair Chung Euisun visited the automaker’s joint battery cell plant with LG Energy Solution in Indonesia to discuss its electrification strategy in the growing electric vehicle market, the company said Friday. According to Hyundai Motor, Chung looked around Hyundai LG Indonesia Green Power (HLI Green Power) in Kawarang New Industry City in the Indonesian province of West Java before attending the business roundtable between South Korea and Indonesia on Thursda

Sept. 8, 2023

[From the Scene] Chinese EV leaders take Europe's biggest auto show by storm

MUNICH -- Chinese companies led by electric vehicle giant BYD were the talk of the town during the press day at IAA Mobility in Munich on Monday. BYD, which had set up one of the biggest exhibition booths at the Messe Munich exhibition center, seemed to draw the largest crowd, filled with hundreds of reporters from across the world as the company announced the launch of its EV sedan, Seal, for the European market during the press conference. A local German journalist who wished not to be named t

Sept. 6, 2023

[KH Explains] Pressure mounts on Korean battery makers to raise wages in US

Ultium Cells, a joint venture between Korea’s LG Energy Solution and US-based General Motors, has recently agreed to raise workers' wages at its Ohio battery plant, leaving Samsung SDI and SK On on high alert for the possible need to increase wages at their joint plants with carmakers there, slated to begin operations in a few years. The company said on Aug. 24 local time that it has reached a tentative deal with the United Auto Workers, the labor union organized within the Ultium pla

Sept. 5, 2023

[Herald Interview] Mercedes-Benz strives to be iconic

MUNICH -- For over 100 years, Mercedes-Benz has looked to embody luxury in its vehicles, and the German automaker has lived up to expectations, seeing its iconic logo become one of the most beloved symbols across the world Through the unveiling of the new Concept CLA Class -- an electric vehicle complete with extraordinary technologies and a remarkable design -- at the IAA Mobility in Munich, Mercedes-Benz Chief Design Officer Gorden Wagener says the brand is now looking to personify youth. &ldq

Sept. 5, 2023

[Herald Interview] Mercedes-Benz focused on enhancing EV technologies

MUNICH -- Mercedes-Benz introduced the new CLA Concept Class for the first time in the world ahead of IAA Mobility, which is taking place in Munich from Tuesday. According to the German carmaker, the new concept vehicle has a driving range of over 750 kilometers per charge, which it claims to be the longest distance in the same segment based on the Worldwide Harmonized Light Vehicle Test Procedure. Markus Schafer, chief technology officer of Mercedes-Benz, says the company has been focusing on d

Sept. 5, 2023

[Photo News] SK On chief at IAA

SK Group Executive Vice Chairman Chey Jae-won (second from left), who doubles as CEO of battery-making unit SK On, listens to a BMW official on the first day of IAA Mobility, one of the world’s largest motor shows, held in Munich, Germany on Monday local time. Chey visited the exhibition booths of Volkswagen, BMW and Hyundai Mobis, according to SK On. “Amid fierce competition in the (electric vehicle) battery market in Europe, we plan to expand business ties with global automakers,&r

Sept. 5, 2023

[Photo News] KIA at defense trade show

Kia showcases, from left, a hydrogen-powered concept car with Advanced Vehicle Technology, its Light Tactical Vehicle with mortar system and a 4-seater cargo truck LTV at the International Defense Industry Exhibition, the largest trade fair for military equipment in Central and Eastern Europe. The event is being held from Tuesday to Friday in Poland. Produced in 2016, Kia’s LTVs have been used as key transportation for the South Korean Army, the company said. (Kia)

Sept. 5, 2023

Hyundai Motor tops EV sales in Indonesia

Hyundai Motor Group said Tuesday it has topped the list of electric vehicle sales in the Indonesian market, the country with the fourth-largest population and the No. 1 nickel reserves in the world. The carmaker sold a total of 3,913 EVs and posted a 56.5 percent market share in Indonesia as of July. Its flagship battery-powered sport utility vehicle Ioniq 5 took up most of the sales with 3,819 units. The Ioniq 5 was the first EV manufactured within the Indonesia plant, which started commercia

Sept. 5, 2023