The Korea Herald is publishing a series of interviews with foreign executives at Korean firms on their role and vision for change, growth in the homogenous corporate world. -- Ed.What drove the former BMW executive to take on the heart of the research and development unit of Hyundai Motor four years ago was the strategic vision of the carmaker’s heir and Korean engineers’ ambition for perfection.In an interview with The Korea Herald, Albert Biermann, the head of R&D at Hyundai Mo

Mobility May 22, 2019

South Korean auto giant Hyundai Motor and its sister company Kia Motors invested 106 billion won ($89.23 million) in a Croatian manufacturer of high-performance electric cars, a move to target the emerging high-end market for race cars powered by electricity, the company said Tuesday.Under the partnership with Rimac, Hyundai plans to unveil two prototype models for hypercars next year, one powered by electricity and one by hydrogen. The investment aims to position Hyundai as leader in the global

Mobility May 14, 2019

With advanced manufacturing and export capacities, Renault Samsung Motors in South Korea stands out as strategically important for the global auto giant, with Renault Group’s head for the AMI and Asia-Pacific region, excluding China, coming to the country for a visit soon, according to the firm Thursday. AMI refers to Africa, the Middle East and India. In a video message, Fabrice Cambolive, chairman of Renault’s AMI-APAC headquarters, described Korea as one of the carmaker’s major manufacturing

Mobility May 9, 2019

SEOGWIPO, Jeju Island -- Despite differences in market characteristics and environment, businesses engaged in electric vehicle developments in Southeast Asia can grow together through a concerted effort to build regional partnerships on zero emission cars, experts said Tuesday. At an international conference held on the sidelines of the annual International Electric Vehicle Expo, business representatives, scholars and industry observers highlighted the need for raising voices for more private an

Mobility May 8, 2019

SEOGWIPO, Jeju Island -- As the first and only exhibition entirely on electric vehicles, the International EV Expo kicked off its four-day run in the southern part of Jeju on Wednesday to offer wider business opportunities for small and medium-sized companies seeking to ride the wave of carbon-free evolution.The sixth edition of the expo has opened its doors to up-and-coming companies and is presenting international conferences looking back on the development of electric vehicles and the market

Mobility May 8, 2019

Businesspeople, experts, investors and government representatives from around the world will gather on the South Korean resort island of Jeju to promote carbon-free mobility technology at an international exhibition that kicks off Wednesday. The sixth annual International Electric Vehicle Expo -- the world’s first and largest event dedicated entirely to EVs and EV components, technology and infrastructure -- runs May 8-11 at International Convention Center Jeju, organizers said Monday. Ioniq (Hy

Mobility May 6, 2019

Amid ongoing labor disputes, the management of Renault Samsung has decided to suspend operations at its plant in the southeastern port city of Busan for three days starting Monday. It is the first time operations of the Busan plant have been temporarily suspended by the management, not by unionized workers who have staged partial strikes for months.  Renault Samsung's Busan plantThe move is widely viewed as an attempt by the management to realign its strategy before reengaging in labor negotiati

Mobility April 29, 2019

A South Korean university is launching a new department in cooperation with Samsung Electronics to nurture future talent in the field of system chips. Yonsei University said Thursday it would open a system chip engineering department starting from the class of 2021, in partnership with Samsung Electronics. The undergraduate program, funded by South Korea’s biggest chipmaker, is designed to educate future talent under the condition that all students will be hired by the company as soon as they gr

Technology April 25, 2019

SK has denied local reports that the conglomerate is gearing up for a $1 billion investment in Vietnam’s largest private company Vingroup.“We have been reviewing a number of investment cases, but there is no such case confirmed yet,” the company’s spokesman said. (Yonhap)News reports said the nation’s third-largest conglomerate will soon invest $1 billion to acquire shares of Vingroup through its overseas investment arm SK South East Asia Investment. Based in Singapore, SK’s investment unit was

Industry April 24, 2019

Steelmaking itself is not environment-friendly, but its byproducts can be, South Korean steel giant Posco said Monday, citing its application of slag and gases to the company’s conservation projects and businesses. 　On average, in the process of making 1 metric ton of steel around 600-700 kilograms of byproduct is produced, mostly slag. Posco’s Triton is installed for marine life conservation. (Posco)Slag, if the lime is separated, can be used as a fertilizer to improve the production of rice ar

Industry April 22, 2019

South Korean auto giant Hyundai Motor has named Jose Munoz, a former Nissan executive, as global chief operating officer in charge of sales in the Americas, the company said Friday. Munoz is to oversee the performance of the carmaker’s regional offices in North America and Latin America, the company said, announcing his appointment as president and CEO of both Hyundai Motor North America and Hyundai Motor America. He will play a leading role in improving the overall profitability of the carmaker

Mobility April 19, 2019

Former Kumho Asiana Chairman Park Sam-koo on Tuesday sent out a letter to the staff of Asiana Airlines apologizing for having to let go of the air carrier that was his “everything,” a day after the board of directors decided to put it up for sale to tackle the group’s liquidity crisis.“It is with a shameful and embarrassing heart as a person that has been leading the group to have had to come to this decision that must have sent all of you into shock and confusion,” Park said in the letter poste

Industry April 16, 2019

TEL AVIV (AFP) -- Scientists in Israel on Monday unveiled a 3D print of a heart with human tissue and vessels, calling it a first and a "major medical breakthrough" that advances possibilities for transplants. Israeli scientist Tal Dvir from Tel Aviv University holds a transparent cup containing what the university says is the world?s first 3D-printed, vascularised engineered heart, during a demonstration at a laboratory in the university, Tel Aviv, on Monday. (Reuters)The heart, about the size

World News April 15, 2019

With the nation’s second-largest flagship carrier now up for sale, speculation is rampant as to who will acquire Asiana Airlines, with the unlikely candidate SK Group -- a telecommunications-to-chips giant that has no business experience in transportation -- emerging as a potential dark horse.The nation’s third-largest conglomerate has so far denied all rumors it is interested in acquiring the heavily indebted air carrier. But market analysts continue to point at its sizeable capital resources,

Industry April 15, 2019

Amid a rising tide of trade protectionism, Korean carmakers are facing a dilemma between producing abroad or at home, where labor agreements force them to maintain staffing levels at high wages.Producing a vehicle in South Korea using highly paid workers costs a lot more than in emerging markets with cheaper labor such as in China, Southeast Asian countries and even Eastern Europe. The low profitability of vehicles made in Korea due to high tariffs has been also cited as a hurdle for Korean auto

Mobility April 15, 2019