Driving a small electric vehicle in the pouring rain isn’t always pleasant. But the second generation Kia Niro EV has proven that even a small EV can be stable and smooth under slippery conditions. Running on front-wheel drive, the battery-powered compact vehicle seemed to have an edge for driving in extreme weather conditions over rear-wheel drive vehicles. It comes with a 150-kilowatt or 204 horsepower single electric motor, enough for an average electric battery SUV. During a 92-kilom

Mobility June 19, 2022

Posco International, the trading arm of Posco Group, is seeking to triple sales at two of its gas fields in Australia by 2025 by leveraging its recently acquired Australian energy company Senex Energy, the Korean firm said Thursday. Posco International CEO Joo Si-bo visited the Senex Energy headquarters on Tuesday and Wednesday to look around the natural gas plants and meet with employees there, the company said. Joo also met with Posco International’s partner firm, Hancock Energy, to di

Industry June 16, 2022

The country’s unionized cargo truckers ended a weeklong strike and returned to work Wednesday after reaching a tentative late-night agreement with the government on the extension of a minimum wage system based on a freight rate. The sit-in protest, which caused a major supply disruption across the country, has left industrial businesses with a damage bill worth some 2.5 trillion won ($1.93 billion), companies said. Of them, steelmakers saw the most damage at 1.15 trillion won, followed b

Industry June 15, 2022

The unionized cargo truckers’ continued strike is putting South Korea’s trade competitiveness at risk, business representatives said Tuesday, stressing that not only big companies, but also small firms, would face a bigger burden.　 “Followed by auto chip shortages and global shipping issues over the Russia-Ukraine war, the price of raw materials has already soared to the top level,” said Yoon Kyung-sun from the Korea Automobile Manufacturers Association at a press confer

Industry June 14, 2022

The ongoing strike by unionized cargo truckers which began last week appears to have caused at least 1.6 trillion won ($1.2 billion) in losses, the Industry Ministry said on Monday. Carmakers may have seen some 257 billion won in losses as the sit-in protest paralyzed supply deliveries, preventing 5,400 vehicles from being produced. The estimated losses were calculated by setting the price of a sedan at 47 million won. The steel industry has estimated its losses at 697 billion won for the las

Industry June 13, 2022

A promotional image unveils the entire exterior of SsangYong Motor's new mid-sized SUV Torres. Under the brand slogan, “Adventurous,” the SUV maker mixed retro and future-oriented design elements while securing a large cargo space of up to 703 liters, capable of storing four caddie bags and more.  Other technological features like Lane Keeping Assist and Forward Collision Warning have been added as standard options. The price ranges between 26.9 million won and 30.4 million wo

Mobility June 13, 2022

South Korea’s unionized cargo truckers continued their sixth day of a general strike on Sunday, posing a fresh threat to the local economy amid lingering woes over higher inflation and supply chain disruptions.  Cargo truckers here began a nationwide indefinite strike on Tuesday, urging the government to extend a freight rate system that guarantees a basic level of pay. Drivers say that without the higher rate, they feel under pressure to drive dangerously fast to make ends meet.&nb

Industry June 12, 2022

Manufacturers in the fields of auto, steel and construction that rely heavily on supply deliveries via freight trucks expressed concerns over intensifying logistics disruptions caused by a unionized cargo drivers’ strike on Thursday.  According to the industry on Thursday, the country’s largest automaker Hyundai Motor Group has suspended operations of four factories inside its Ulsan plant due to delay in auto parts supply. Some 6,000 units of vehicles, including flagship model

Industry June 9, 2022

South Korea’s unionized cargo truckers staged a nationwide, indefinite strike starting Monday midnight, marking the first major labor-government conflict since President Yoon Suk-yeol took office last month amid a worsening market economy and sharp price hikes here. According to the union, a majority of the 25,000-member Cargo Truckers Solidarity, affiliated with the Korean Confederation of Trade Unions, and a large number of non-unionized truckers have joined the general strike. They are

Social Affairs June 7, 2022

The country’s largest air carrier Korean Air will develop common bulkhead propellant tanks for small satellite launch vehicles by 2027 as part of the Ministry of Science and ICT’s Space Pioneer project, the company said Friday.  Under a ministry-led program, some 211.5 billion won ($170 million) will be spent until 2030 on developing the country’s bulkhead propellant tanks for small satellite launch vehicles, a device for umbilical release and mobile launch pad, as well

Mobility June 3, 2022

South Korea’s Transport Ministry said Friday that it would lift restrictions on the operation of international flights and also expand the number of outbound routes, getting ready to go back to pre-pandemic status. Authorities said measures for aviation industry’s normalization will be applied from Wednesday. The ministry has approved some 762 international flights per week for June, 230 more flights added compared to in May, but said it was also willing to give more approvals if

Mobility June 3, 2022

After a months-long supply disruption due to the war in Ukraine, Posco International said Thursday that it has partially resumed operation of its grain export terminal located in the country’s eastern border area. According to the company, its operation resumption follows its clients’ request for supply. Some 2,000 tons of wheat have been exported its terminal in Mykolaiv this week, where some 115,000 tons of grains including wheats and corns are stored. Transportation of grains wa

Industry June 2, 2022

SK Telecom CEO Ryu Young-sang on Thursday showed confidence in debuting the telecom giant’s own urban air mobility (UAM) service by 2025, touting UAM or flying vehicles as a “game changer” that will offer solutions to resolving social costs of traffic-related issues.  “Today’s business environment is being reshaped at an unprecedented speed since COVID-19,” Ryu said in a column released via the company’s website.  “UAM used to be consi

Industry June 2, 2022

Accelerated by soaring labor costs, the reduced number of workers willing to take labor-intensive jobs and pandemic-triggered noncontact services, South Korea has seen a growing number of businesses deploying front-line service robots that have begun replacing humans in performing mundane and routine tasks.  Korea’s service robot market will grow to an accumulative 230,000 robots by 2025, worth 2.8 trillion won ($2.25 billion) in value, according to market data compiled by the Inter

Industry June 1, 2022

The race for leadership of South Korea’s flying car market intensified Tuesday, with SK Telecom, Hyundai Motor Group and Kakao Mobility announcing their bid by forging consortiums with local companies.  SKT, Hyundai Motor Group and Kakao Mobility submitted their business proposals to join the K-UAM Grand Challenge, a government-led program to select an urban air mobility business operator. They are vying for the lucrative sector that is expected to surpass 1,800 trillion w

Mobility May 31, 2022