Hyundai Motor Group will supply 1,700 hydrogen fuel-cell cars to Jeju Island by 2030 as part of joint efforts to build a green hydrogen ecosystem in the country's resort island. A large green hydrogen production facility is planned to be built in Jeju by 2026. This would enable operations of hydrogen-powered vehicles on the island, according to the company, adding that it is working with Trade Ministry, Jeju Special Self-Governing Province, and Korea Southern Power Co. Currently, Jeju has

Industry Sept. 29, 2022

Posco Group said Wednesday its two affiliates – Posco Holdings and Posco E&C – have signed a memorandum of understanding with the nation’s largest hydrogen production and sales company Approtium in a fresh push for hydrogen business. Under the agreement, the three companies will invest a combined 200 billion won ($139 million) by 2026 into establishing facilities for hydrogen production. The annual production capacity is expected to reach 40,000 tons. Approtium, based in the

Industry Sept. 28, 2022

Ian Callum, the man behind the British carmaker Jaguar’s renaissance in recent decades, urged designers to transform the way they interpret transportation as a mere object for mobility, saying that the world that is rapidly changing and facing an array of problems that didn't exist before. “Design creates order out of chaos, but chaos is often required as a prerequisite to being creative,” he said, adding that designers today must come with ideas that not only reflect hu

Industry Sept. 27, 2022

  South Korea's defense-to-energy conglomerate Hanwha Group said Monday it has signed a conditional memorandum of understanding with Daewoo Shipbuilding & Marine Engineering to acquire a controlling stake of 49.3 percent and managerial control of the shipbuilder, which has been under the state supervision for 21 years. Under the memorandum, Hanwha’s six affiliates -- including its defense unit Hanwha Aerospace and an energy equipment company, Hanwha Systems Co. -- will purchase D

Industry Sept. 26, 2022

  Pernod Ricard's Kyoto dry gin KiNoBi made its South Korean debut earlier this month, targeting a growing number of drinkers here who may drink less but are willing to spend more to elevate at-home bar experience after pandemic years. “COVID-19 has reduced opportunities for people to mingle and socialize, so people looking for a luxury experience started to choose to enjoy them at home, trying out geekier types (of premium liquor) as they have more budget while staying in. With

Industry Sept. 26, 2022

At first glance, Hyundai Motor’s second flagship electric vehicle Ioniq 6 looks more like a sports car similar to Porsche’s 911 Carrera, mainly for its coupe-like frame. But inside, the spacious interior gives the feeling of a SUV, thanks to its unique platform built on E-GMP. The carmaker's adoption of EV-only seat material that is 30 percent thinner than ordinary seat fabric was a good choice. This unlikely combination of exterior and interior clearly shows where Hyundai Mot

Industry Sept. 25, 2022

    Cho Sung-hwan, CEO of Hyundai Motor Group’s auto parts affiliate Hyundai Mobis, has been elected president of the International Organization for Standardization, the company said Friday. Cho is the first Korean to take the highest position at ISO, a non-profit organization that develops and publishes more than 24,000 international standards for various industries, and has 167 national standard bodies as members. South Korea has been a member since 1963. Cho was elected from a

Industry Sept. 23, 2022

Concerns over steel supply disruption is rising over unionized workers at South Korea's second-largest steelmaker Hyundai Steel threatening to stage sit-in protests. The workers’ threats come amid stalled wage negotiations at a critical time, as the country’s largest steelmaker Posco is reeling from typhoon damage. According to industry news reports on Wednesday, Hyundai Steel’s labor union, which has been at the negotiation table since March, warned of going on strike if its

Industry Sept. 21, 2022

Kakao Mobility and Hyundai Motor Group said Monday they have teamed up to debut a new taxi-hailing service using autonomous driving technology, with the first test-run set to be carried out within the year. The two firms said they have recently signed a memorandum of understanding to test driverless driving technology and seek a mass-market debut of the new service. Under the partnership, Hyundai Motor’s self-driving taxi RoboRide, based on the carmaker’s flagship electric model Ioni

Industry Sept. 19, 2022

Hyundai Motor Group on Friday unveiled its vision for future mobility with its purpose-built vehicle and the latest user experience technology that underlies it, with an aim to help drivers and passengers make better use of their time inside the vehicle. Showcasing prototypes and technologies at UX Tech Day 2022 in Seoul on Friday, engineers at the carmaker said these future mobility features are set to make a market debut after 2025. According to the carmaker, dozens of patent technologies have

Mobility Sept. 18, 2022

Hyundai Motor Group said Thursday that it has won $3.5 million in funding from the US Environmental Protection Agency (EPA) to participate in an air pollution reduction project. Under the project, the Korean carmaker will replace five diesel trucks with its hydrogen-powered Xcient Fuel Cell trucks, in California, by the third quarter of 2023. Under EPA’s Targeted Airshed Grant funding program, which began in 2015, the US aims to fund experiments for emissions reduction in cities with the

Industry Sept. 15, 2022

  By 2025, tourists visiting Jeju Island will be able to hop on Urban Air Mobility or air taxis to head to major tourism spots, a consortium comprising Hanwha Systems, SK Telecom and Korea Airports Corp. said Wednesday. At an agreement signing ceremony with Jeju Special Self-Governing Province Wednesday, the firms announced that they would work together to make the resort island the country’s first municipality to have commercial routes for flying cars. The news confirms a report by&n

Industry Sept. 14, 2022

South Korean steel giant Posco said Tuesday that it has resumed operation of steel production at its manufacturing plant in Pohang, North Gyeongsang Province, a week after the factory had been stalled due to heavy rain on Sept. 6 linked to Typhoon Hinnamnor. Over the four-day national Chuseok holiday that wrapped up Monday, an accumulated 30,000 employees and subcontractors worked around the clock to fully repair the facilities, Posco said. Key facilities at the plant, including all three blast

Industry Sept. 13, 2022

South Korea shipped a total of $7 billion worth of electric cars last year, taking the fourth spot in terms of exports by value, following Germany ($28.8 billion), the United States ($10.1 billion) and China ($10 billion), data from a report showed Thursday. Of the world’s top 10 EV exporters, six countries were from Europe. Japan ranked eighth with $4.6 billion EV exports. According to data by Korea International Trade Association, the country's EV exports jumped 112.2 percent in the last

Mobility Sept. 8, 2022

  South Korea’s steel giant Posco said Thursday it would resume the operation of its blast furnaces in Pohang, North Gyeongsang Province, in two days, which had been stalled due to heavy rain Tuesday caused by Typhoon Hinnamnor. The company said in a statement that it has been accelerating repair work at its steel manufacturing plant in the southeastern industrial city. Its key facilities at the plant, including all three blast furnaces, had been halted Wednesday over a flood-induced

Industry Sept. 8, 2022