Hyundai Motor Group unveiled Tuesday another set of mega investment plans, this time focusing on the local market. Introducing a 63 trillion won ($52.6 billion) plan, the automaker said it would work with its subsidiaries Kia and Hyundai Mobis to turn Korea into a hub of its future mobility business. The investment will be implemented over the next three years.  According to the automaker, which controls the country’s top two automotive brands -- Hyundai Motor and Kia -- as well as

Mobility May 24, 2022

Energy-to-defense giant Hanwha Group unveiled Tuesday an investment plan of 37.6 trillion won ($29.7 billion) into the energy, carbon neutrality, defense and aerospace sectors over the next five years.  Under such investment plan, the group expects to create some 20,000 new jobs.  The group said some 20 trillion won will be injected into its business operations in Korea. This is equivalent to the group’s combined 22.6 trillion-won investment made over the past five years local

Industry May 24, 2022

Hyundai Motor Group and Microsoft Korea have collaborated to make a “digital twin” of the Ioniq 5 to accurately analyze performance of the battery that is critical for electric vehicles. According to the automaker, the digital twin works by making an identical product of a device on a virtual platform so it can experiment with artificial intelligence, machine learning and data analysis models by applying different settings such as climate, driving patterns and road conditions to co

Industry May 24, 2022

South Korean robotics maker Rainbow Robotics said Monday that it recorded 3.6 billion won ($2.8 million) in sales in the first quarter this year, up 182 percent on-year.  The Korean robot maker said the local market’s demand for collaborative robots that work with humans has pulled up its sales, as well as increased exports of its device that tracks certain targets with accuracy to the global market. Its operating profit came to 600 million won.  Collaborative robots assist hu

Industry May 23, 2022

South Korean carmaker Hyundai Motor Group announced the second round of its investment plan Sunday, adding another $5 billion to collaborate with US firms, only a day after the company unveiled a $5.54 billion plan to build an electric vehicle-only factory in Georgia. “Hyundai Motor Group plans to invest an additional $5 billion through 2025 which will strengthen our collaboration with American enterprises in diverse technologies such as robotics, urban air mobility, autonomous driving a

Mobility May 22, 2022

An explosion at an S-Oil refinery in Ulsan, some 400 kilometers southeast of Seoul, left one person dead and nine others injured, firefighters said Friday.  Firefighters were notified of an explosion at the S-Oil refinery at 8:52 p.m. on Thursday. The injured workers were transported to a hospital nearby. While the exact cause has yet to be determined, fire authorities said the accident occurred inside S-Oil’s refinery at Onsan industrial park while crude oil was being processe

Industry May 19, 2022

Hyundai Glovis, a supply chain management arm under Hyundai Motor Group, said Thursday that it has launched an overseas corporation in Bangkok, as part of its business expansion strategy in the Southeast Asian market. Hyundai Glovis Logistics Thailand, a joint venture that has been formed with local auto parts manufacturers and logistics firms, will be responsible for creating synergy with its existing logistics points in Vietnam and Indonesia, the company said in a statement.  According

Industry May 19, 2022

To honor the United Nation’s World Bee Day, Hanwha Group said Thursday that it has created the country’s first solar beehive which has been designed with a photovoltaic low-carbon structure that uses electricity generated through solar panel. Hanwha Group said it has installed the solar beehive at the Korea National University of Agriculture and Fisheries (KNUAF) as a part of its pilot program. At this beehive, about 40,000 bees will help pollinate the fruit trees on campus and vege

Industry May 19, 2022

Amid looming reports that Hyundai Motor is set to announce a $7 billion investment in US, the South Korean carmaker unveiled a whopping 21 trillion-won ($16 billion) plan on Wednesday to quadruple its domestic electric vehicle production capacity by 2030.  The plan is aimed at digesting about half of its target goal of producing 3.23 million units of EVs globally, the company said. It came two days prior to US President Joe Biden’s official visit to Korea of which the company report

Mobility May 18, 2022

Consumer criticisms are mounting as the country’s finished carmakers are unable to meet the delivery deadline due to ongoing supply shortages globally, as well as obligating customers to pay more to get the latest edition models.  As carmakers like Hyundai Motor stops manufacturing the older version of vehicle when they release the new edition in the new year, customers having to wait more than a year for delivery of their cars are being pushed to buy more expensive, newer edition v

Mobility May 17, 2022

Hyundai Motor Group on Sunday unveiled its latest mobility concept inspired by the Korean traditional floor heating system “ondol” that allows passengers to take rest inside or even sleep with a specially designed multifunctional blanket.  According to the carmaker, its new mobility concept, Mobility Ondol, has no driver’s seat, since it was designed based on the fully autonomous driving system. The seats are arranged to face each other, putting the communication of the

Mobility May 15, 2022

Following the government’s eased rules on COVID-19 testing for travelers, air carriers are bracing for the summer holiday season as they reopen suspended international routes and refurbish cargo planes to carry passengers.  On Sunday, the country’s largest flag carrier Korean Air announced that it is adding more than 30 flights per week to Europe and US routes from next month.  The number of flights to popular destinations such as San Francisco, Vancouver, London, Amster

Industry May 15, 2022

For Kim Yoo-jun, a 31-year-old firefighter, farming is a newfound hobby -- not necessarily to put fresh vegetables on his table, but to regain strength to continue his mission of saving lives. Looking back at the last three years, Kim realized that he was under a lot of stress at his high-risk job. He realized that he desperately needed to do something other than taking pills or counseling to manage his stress. “I run my own little farm near my mother’s house. It’s as small

Industry May 14, 2022

Hyundai Motor on Thursday launched the 2022 Hyundai Grandeur, a facelifted version of its top-selling mid-sized sedan car. Coming back with revamped style and safety functions, a 12.3-inch LCD cluster and a touch-type controller have been adopted for all four trims – Premium, Le Blanc, Exclusive and Calligraphy. The Exclusive trim features advanced safety features like forward collision avoidance assist and smart cruise control, while the highest end Calligraphy is equipped with a head-u

Mobility May 12, 2022

Chinese automotive manufacturer Geely Auto of Zhejiang Geely Holding Group is acquiring a 34.02 percent stake in Renault Korea Motors, as part of a strategic effort to establish a foothold in the local market for expanding its overseas presence, according to experts.  Hangzhou-based Geely Automobile Holdings is China’s largest privately-owned automotive group. With an above-30 percent share in the Korean carmaker, which recently dropped “Samsung” from its name upon termi

Mobility May 10, 2022