South Korea’s top three tire manufacturers -- Hankook Tire, Kumho Tire and Nexen Tire -- showed mixed financial performances in the third quarter as they grappled with rising costs and softer demand in the automotive market. While Hankook and Kumho managed to post strong profits, Nexen struggled amid rising shipping expenses and weaker demand in North America. Hankook Tire led the pack, hitting a new record for quarterly sales at 2.44 trillion won ($1.77 billion), up 4.1 percent from last

Industry Nov. 5, 2024

HEDELFINGEN, Germany -- At Mercedes-Benz’s battery production facility in Hedelfingen, Stuttgart, a group of Korean reporters was recently given a close-up look at how the automaker assembles the battery packs that power its flagship electric vehicles, the EQS and EQE. The visit offered a rare glimpse into the detailed, highly automated process that Mercedes-Benz takes on to ensure the reliability of its EV batteries. “Every little part is recorded and can be kept for up to 30 years

Mobility Nov. 4, 2024

D.Camp, one of South Korea’s largest startup incubators, held a networking event on Friday to connect international students with internship positions at local startups. The event, hosted at D.Camp’s Front1 facility in Seoul’s Mapo-gu district, brought together representatives from 13 startups and dozens of international students who had applied to these companies in hopes of securing an internship over the winter break. The event is part of a new initiative launched by D.Camp

Companies Nov. 3, 2024

SK Innovation and SK E&S, both part of South Korea’s SK Group, officially completed their merger Friday, forming the largest privately owned integrated energy company in the Asia-Pacific region, with a combined asset value of 105 trillion won (around $76.1 billion). What does the merger mean for SK Innovation? With SK E&S now folded into SK Innovation, the newly merged company can tap into an expanded portfolio that includes oil, chemicals, liquefied natural gas, power generati

Industry Nov. 1, 2024

SINDELFINGEN, Germany -- A bright orange Mercedes EQS 450 electric sedan sped down a spotless track, reaching 64 kilometers per hour before slamming into a massive concrete wall. The front end crumpled like a soda can, but a bright ring of 72 lights immediately illuminated the wreck as high-speed cameras captured every millisecond from all angles. On Oct. 22, Mercedes let a group of reporters from South Korea witness a full-scale crash test up close at its Vehicle Safety Technology Center in S

Mobility Oct. 31, 2024

In response to South Korea’s surging appetite for luxury SUVs, Volkswagen is doubling down with an upgraded Touareg that emphasizes advanced technology and understated elegance. Launched in August, the third-generation 2024 Touareg positions Volkswagen to compete in a market where SUVs now dominate imported car sales, driven by demand for both versatility and premium features. The third-generation 2024 Touareg has received a subtle design makeover that focuses on clean lines and understate

Mobility Oct. 31, 2024

Bentley Motors Korea launched two of its most powerful and luxurious coupes in the Korean market: the fourth-generation Continental GT Speed and the Continental GTC Speed, its convertible counterpart, at Bentley Seoul Gangnam on Wednesday. The new Continental GT Speed is the most powerful street-legal vehicle in Bentley's history -- a term used for extremely high-performance cars that are still legal to drive on regular roads, unlike racing cars. Bentley has equipped both models with a plu

Mobility Oct. 31, 2024

Global automakers, including Hyundai Motor, Toyota and General Motors, are urging the US government to delay new restrictions on Chinese-made parts used in connected vehicles. The proposed regulations, which aim to limit Chinese and Russian components in vehicles with advanced communication and autonomous driving features, are raising concerns not only among automakers but also from Mexico, where many companies affected by the rules have invested in production facilities. According to Reuters on

Mobility Oct. 29, 2024

STUTTGART, Germany -- Following a fire involving a Mercedes-Benz EQE electric vehicle in South Korea in August, executives are defending their use of batteries from Chinese supplier Farasis Energy, even as investigations continue to probe the cause of the incident. The August fire, which occurred in the basement of an apartment building in Incheon, has raised questions around the safety of the vehicle's battery cells and the automaker’s quality control practices. During an Oct. 21 med

Mobility Oct. 28, 2024

KUPPENHEIM, Germany -- A two-hour drive southwest of Mercedes-Benz’s Stuttgart headquarters, a new facility in the small town of Kuppenheim is poised to play a big role in the auto giant’s sustainability efforts. On Monday, brightly lit tanks, each glowing with a different hue, lined the walls of the 6,800-square-meter space, labeled with symbols for essential elements: lithium, nickel, cobalt and manganese. This is not a scene from a sci-fi movie, but a staged media presentation -

Mobility Oct. 24, 2024

Tesla’s recent unveiling of its Robotaxi prototype has generated some buzz, but the absence of critical details leaves room for competitors -- such as Hyundai Motor Group -- to potentially make up ground in the race toward autonomous vehicles. While Tesla remains a dominant force in electric vehicles and self-driving technology, its latest announcement raises as many questions as it does excitement. At the Tesla event named "We, Robot," held at Warner Bros. Studios in Burbank,

Mobility Oct. 23, 2024

LG Energy Solution has landed its biggest deal of the year, partnering with Ford to supply 109 gigawatt-hours of batteries for the automaker's electric commercial vehicles through 2032. Announced on Tuesday, this long-term agreement will see LG providing enough battery power for over a million electric commercial vehicles, all manufactured at the company’s plant in Wroclaw, Poland. The batteries, expected to be a high-performance ternary pouch type, will be delivered over two periods

Mobility Oct. 15, 2024

Over the past three years, 182 students from the Korea Advanced Institute of Science and Technology have withdrawn from the university to pursue medical or dental school, with some even abandoning their graduate-level studies to make the switch. According to data provided by Democratic Party Rep. Hwang Jeong-ah, a member of the National Assembly's Science, ICT, Broadcasting, and Communications Committee, these 182 students left KAIST between 2021 and Oct. 4 this year, specifically citing th

Economy Oct. 15, 2024

Renault Korea and KG Mobility, the two underdogs in Korea where Hyundai and Kia cars dominate almost 90 percent of the market, are starting to edge in with their latest midsize sport utility vehicles. As consumer interest in smaller city cars declines, midsize SUVs are gaining popularity here, driven by increasing demand for larger, family-friendly vehicles and automakers’ focus on more profitable segments. According to September data from the Korea Automobile & Mobility Association, K

Mobility Oct. 14, 2024

Hyundai Motor Group is celebrating four years of Chung Euisun’s leadership as executive chair on Monday. During this period, the automaker has experienced rapid growth, expanded into new markets and positioned itself as a major player in electric vehicles and future technologies. But new challenges lie ahead, particularly in software, robotics and urban air mobility. When Chung officially took over in 2020, Hyundai and its sister brand, Kia, were solid players but not exactly leaders in th

Mobility Oct. 13, 2024