With the yearslong boycotting of Japan-made products in Korea showing signs of abating, Japanese auto giant Toyota is seeking to turn the tables here with the Crown Hybrid crossover utility vehicle, which shows off its latest technological advancements in combining a combustion engine and electric motor. The Crown was Toyota’s first mass-produced car model, with the longest history of 69 years and its bestselling premium sedan at home. But in Korea, the car has long been absent after it

Mobility June 11, 2023

South Korea’s top makers of chips and cars, Samsung Electronics and Hyundai Motor Group, announced their first-ever partnership last week, fueling speculation that their rare tie-up could further extend in the field of future mobility. Under the deal, Samsung will supply automotive chips for Hyundai’s upcoming cars. Since the late 1990s, when Samsung ditched its car-making business, the nation’s two largest conglomerates have distanced themselves from being involved in direct c

Mobility June 11, 2023

Hyundai Motor Group Executive Chair Chung Euisun highlighted the importance of learning from the past to prepare for the rapidly changing mobility industry, at the opening ceremony for an exhibition honoring the carmaker’s first mass-produced car, the Pony. “With ChatGPT now a buzzword, artificial intelligence and robotics technology are witnessing exponential growth. Under the circumstances, we need to ask what our purpose of existence and future road map are,” said Chung at t

Mobility June 8, 2023

SK Signet, the electric vehicle charger maker affiliated with SK Group, said Wednesday it will start production of EV chargers in the US next month with the completion of its new plant in Texas. The new plant will be producing 10,000 units of its 400-kilowatt EV charger per year. It aims to double production capacity to an annual 20,000 units in phases. “By 2025, we look to boost our global sales to 1 trillion won ($768.3 million), compared to last year’s 160 billion won. Our goal is

Mobility June 7, 2023

JPMorgan Chase CEO and Chairman Jamie Dimon reportedly met with the heads of the nation’s top four financial groups and Bank of Korea Gov. Rhee Chang-yong in Seoul during his two-day visit to Korea in five years, according to industry sources on Tuesday. Upon his arrival at a Seoul hotel on Monday, he met with the nation’s financial leaders, including Shinhan Financial Group Chairman Jin Ok-dong, Hana Financial Group Chairman Ham Young-joo, Woori Financial Group Chairman Lim Jong-r

Industry June 6, 2023

With improved bilateral relations between Korea and Japan, Toyota is seeking a turnaround here with the launch of the Crown Hybrid crossover utility vehicle, an upgraded version of its long-loved flagship sedan. “The Korean market is both worthy of investment and challenging because many customers are car enthusiasts who have high standards,” said Toyota Korea CEO Konyama Manabu, during a press conference on Monday in Gangnam-gu, Seoul. “Compared to 2022, the situation has

Mobility June 5, 2023

42dot, a self-driving mobility unit under Hyundai Motor Group, is setting up a global software center for software defined vehicles, or SDVs, aiming to create a foothold in the burgeoning future mobility business. Users can manage operations and acquire new features for SDVs primarily through software updates. According to a regulatory filing on Wednesday, the company received a first-phase investment worth 346.2 billion won ($265.1 million) from the carmaker, who vowed to inject total of 1.5

Mobility June 4, 2023

Hyundai Motor Group seems to be further bolstering its ties with China’s CATL, the world’s largest battery maker for electric vehicles, as part of its renewed strategy to diversify battery suppliers amid increasingly protectionist policies in the US and Europe, according to industry sources Sunday. The latest development comes after the world’s third-largest carmaker by sales has recently been stripped of EV subsidies in the all-important US market under the Inflation Reducti

Mobility June 4, 2023

South Korean battery maker Samsung SDI said Thursday an executive meeting was held to bolster environmental, social and governance management efforts. Some 20 top executives, including Samsung SDI CEO Choi Yoon-ho, joined the workshop held at the company’s headquarters in Giheung, Gyeonggi Province. “ESG management goes beyond corporate’s social responsibility. It is a key strategy to enhancing our competitive edge for the future,” said the CEO in his opening remarks. &ld

Mobility June 1, 2023

Hyundai Rotem, a railway, defense and plant systems provider under Hyundai Motor Group, is speeding up the commercial debut of the nation’s first hydrogen-powered electric tram, with a test drive set to be carried out in the coming months. According to the Ministry of Trade, Industry and Energy on Wednesday, the company’s upcoming tram, equipped with hydrogen fuel cells, is expected to drive a total of 25,000 kilometers on two railway test tracks in Osong, North Chungcheong Provinc

Mobility May 31, 2023

Recipients of Han Sung Motor’s Dream Gream scholarship showcased their work at Plastic Art Seoul 2023, a Seoul art fair dedicated to sculptures and installations that took place over the weekend. Han Sung Motor, the official importer of Mercedes-Benz cars here, has sponsored young artistic talents through the program that offers scholarships and mentoring opportunities. For the latest exhibition, 40 students joined to present media art creations under the theme “The most precious thi

Mobility May 29, 2023

  With South Korea’s homegrown Nuri rocket’s successful launch to space, five out of eight satellites carried on board made two-way communication with ground stations, the Ministry of Science and ICT said Friday. The country’s King Sejong Station in Antarctica received the first signal from the main payload NEXTSat-2 or second next-generation small satellite at 7:07 p.m. Thursday, according to the ministry. A ground station in Daejeon also made contact with the satellite a

Technology May 26, 2023

Hyundai Motor Group said Friday that it has agreed with LG Energy Solution to jointly build an electric vehicle battery manufacturing plant in the US, expanding their footing in the burgeoning clean car market there. Under a joint investment of 5.7 trillion won ($4.3 billion), the two companies plan to start construction of the plant later this year. With an annual production capacity of 30 gigawatt-hours, enough to supply approximately 300,000 fully electric cars, the plant will commence operat

Mobility May 26, 2023

South Korean electric vehicle battery maker SK On has attracted $944 million in funding as part of its push to expand its presence in the burgeoning EV market. According to its parent company SK Innovation on Wednesday, $800 million will be secured from a consortium led by MBK Partners, the Korea-based private equity firm, which is composed of financial investors from the US and the Middle East. Another $144 million will be attracted from SNB Capital, an investment banking arm under Saudi Nati

Mobility May 25, 2023

Amid burgeoning demand for human assistant robots, DB Robotics, a first-generation robot developer in South Korea, is receiving renewed attention for its extensive robot lineup that ranges from a gigantic deep-sea drill robot to a microsized robot traversing blood vessels. Based on some 60 patents, the 23-year-old company has thus far developed over 300 robots, mostly for public projects. And now it aims to take a big leap by debuting its robots for commercial success, according to DB Robotics C

Technology May 24, 2023