A joint venture project between Posco Future M and General Motors has secured 300 million Canadian dollars ($221 million) in funding from Canada to build an electric vehicles' battery materials plant. The provincial government of Quebec and the Canadian federal government on Monday announced the financial support plan to aid the joint venture project, named Ultium CAM, to construct the country's first cathode production factory. The public investment is aimed at strengthening the supp

Industry May 30, 2023

Hyundai Motor Group has reportedly recruited Kim Il-bum, a former presidential secretary, to strengthen its global public affairs competency, according to sources on Tuesday. Kim, who resigned from the presidential secretary position in March, is expected to begin working as an executive vice president at the auto giant in July. He is expected to help the company cope with challenging tasks amid a global supply chain crisis and bolster networks with foreign governments. "We are aware that t

Mobility May 30, 2023

South Korea’s consecutive successes with the homegrown Nuri rocket and lunar orbiter Danuri have led to the government’s ambitious road map to land on the moon in 2032 and on Mars in 2045. While the spotlight has been shining on rockets and satellites, less attention has been paid to the sector of space robotics. Unmanned Exploration Laboratory, a Korean startup led by a young CEO, is working relentlessly to develop lunar-roving vehicles as the country’s only player to make suc

Technology May 29, 2023

The all-new Kona Electric -- Hyundai Motor’s latest all-electric compact sport utility vehicle -- is looking to lure customers with a roomier interior, longer driving range and sound riding experience. The South Korean automaker on Tuesday held a test drive event for local journalists to ride the Kona EV over a 172-kilometer-long course beginning from Hanam, Gyeonggi Province and ending in Sokcho, Gangwon Province. At first glance, the all-electric SUV did not appear too “compact.&rd

Mobility May 26, 2023

GOHEUNG, South Jeolla Province -- South Korea successfully conducted the third launch of the homegrown Nuri rocket Thursday, as the satellite launch vehicle reached the targeted altitude and released satellites into orbit, marking another space milestone for the country. “Following the success of the Nuri rocket’s second launch last year, today’s third launch affirmed the Nuri rocket’s flight capability and secured reliability. At the same time, it was a chance to reaffir

Technology May 25, 2023

GOHEUNG, South Jeolla Province -- South Korea postponed the third launch of the homegrown Nuri rocket due to a software error during the preparation process, the Ministry of Science and ICT said Wednesday. “During the checkup on the low-temperature helium valve control, a problem occurred in the communication between computers that control the launch operation and the launch pad’s equipment. The valve itself did not have any issues as it could be operated manually. But once the valve

Technology May 24, 2023

Hanwha Group, South Korea’s seventh-largest conglomerate, stands at the forefront of the country’s efforts to grow and nurture its space industry, as Hanwha Aerospace became the first system integration company to lead the launch of the homegrown Nuri rocket. Hanwha Aerospace won the government bid in December to take charge of upgrading the Nuri rocket, also known as Korea Satellite Launch Vehicle-II, and launching it four times through 2027. The company signed a contract worth appr

Industry May 24, 2023

Hyundai Motor Company has brought back the Pony Coupe Concept vehicle about 50 years after the original vehicle was first showcased at the 1974 Turin Motor Show in Italy to highlight the automaker’s history and heritage. Hyundai Motor unveiled the restored Pony Coupe Concept at the inaugural event for Hyundai Reunion -- a heritage brand platform that reflects on the automaker’s past and its future direction -- in Lake Como, Italy, on Thursday. "Despite the poor industrial enviro

Mobility May 19, 2023

LG Energy Solution’s top management and Canada’s top leadership including Prime Minister Justin Trudeau discussed ways to resolve the issue of the halted construction of a joint battery plant between the South Korean battery maker and Stellantis in the Canadian province of Ontario, according to an industry source Thursday. “The Canadian prime minister and Canadian government officials sat down with LG Energy Solution’s high-ranking officials to figure out a breakthrough f

Industry May 18, 2023

Kolon Industries will invest 24 billion won ($18 million) to increase the production of pure monomer resin, or PMR, to cope with the expanding electric vehicle market and the increasing demand for EV tires, the company said Monday. The South Korean chemical and industrial materials maker plans to boost its annual production capacity at the PMR manufacturing plant in Yeosu, South Jeolla Province, by 10,000 metric tons to 21,000 tons. The expansion is projected to be completed in the first half of

Industry May 15, 2023

KG Mobility, formerly known as SsangYong Motor, is hoping to expand the market size of its long-beloved large sports utility vehicle Rexton and pickup truck Rexton Sports with the latest face-lifted versions of the two signature brands: Rexton New Arena and Rexton Sports&Khan Culmen. The automaker held the test drive events for the Rexton New Arena and Rexton Sports&Khan Culmen last week with about 100 South Korean media outlets taking part. The 220-kilometer test drive included winding

Mobility May 15, 2023

The Ministry of Science and ICT has completed the registration of Starlink Korea, a local subsidiary of US space company SpaceX, as a common telecommunications business. According to the ministry on Friday, the government decided to grant the license to the US company after it reviewed its financial and technical capabilities, and plans to protect users, as part of the registration requirements under the Telecommunications Business Act. SpaceX filed for business registration with the ministry in

Technology May 14, 2023

The consecutive successes of South Korea’s Nuri rocket and Danuri lunar orbiter opened a new space era for the country’s space road map last year. The Korean government and President Yoon Suk Yeol set out ambitious goals of landing on the moon in 2032 and on Mars in 2045, signaling the beginning of the space economy. Korea Aerospace Industries, which has played an essential role in the country’s recent space milestones, is now aiming to expand its space businesses with a focus

Technology May 14, 2023

SK Innovation and SK IE Technology announced Monday that the two companies will jointly invest in Airrane, a local firm specializing in membrane technology for gas separation, to strengthen their carbon reduction competitiveness. SK IE Technology -- a subsidiary of SK Innovation, an energy and chemical company under South Korean conglomerate SK Group -- manufactures lithium-ion battery separators, or LiBS, for electric vehicles. The amount of the investment was not disclosed. Airrane has worked

Technology May 8, 2023

As the global space race gets heated, more satellites will be launched into space. Dealing with the increasing number of satellites will be an enormous market. Nara Space, a South Korean startup specializing in developing small satellites and providing solutions with satellite images of the Earth, is aiming to become a pioneer in the space traffic control sector. “We think the market for controlling space traffic or markets related to space traffic will grow immensely,” Park Jae-pil,

Technology May 8, 2023