Korean automotive, battery and semiconductor titans have been navigating their investments toward American shores, driven by incentives from the Inflation Reduction Act and the CHIPS and Science Act of 2022. Now, the Jones Act and Byrnes-Tollefson Amendments might beckon Korean shipbuilders to American waters. HD Hyundai Heavy Industries and Hanwha Ocean are setting their sights on acquiring American shipyards, specifically to tap into the maintenance, repair and overhaul (MRO) business. HD Hyun

Industry April 2, 2024

Hyundai Motor Group has once again triumphed at the 2024 World Car Awards, with its vehicles being named World Car of the Year, World Electric Vehicle, and World Performance Car of the Year. The World Car Awards is an annual event organized by automotive journalists globally to honor excellence in the car industry across multiple categories. This accolade marks the third consecutive victory for Hyundai Motor Group in the World Car of the Year and World Electric Vehicle of the Year categories, be

Mobility April 2, 2024

Hyundai Motor Group, having climbed to the rank of the second-largest electric vehicle seller in the United States last year just behind the trailblazer Tesla, recently took reporters behind the scenes to reveal the backbone of their success: a commitment to safety amid the industry's sprint toward longer battery ranges and fast charging. On Wednesday, the press was invited to the automaker's Namyang Technology Research Center in Hwaseong, Gyeonggi Province, to witness firsthand the safety testi

Mobility March 31, 2024

Korean battery material and chemical company Posco Future M has been recognized by Fortune Asia as one of the top 30 most innovative companies in Asia, set to drive future growth, the company said on Thursday. The 2024 Fortune Asia Future 30 award was presented at the Fortune Innovation Forum in Hong Kong on Wednesday. Posco Future M's progress from traditional industrial materials to leading-edge sectors like cathode material production has been marked by significant achievements, includin

Industry March 28, 2024

Amid the escalating US-China rivalry, global supply chains are being reshaped and India, the world’s fifth-largest economy, is getting fresh attention from South Korean tech giants. India boasts the world’s largest population, at over 1.4 billion people, and a robust economy that has experienced substantial growth over the last three decades. Korea’s major conglomerates, which have already secured a sizeable footing in the burgeoning market, are more recently pouring resources

Technology March 27, 2024

Kia Corp. on Tuesday announced it has appointed two former designers from Mercedes-Benz and BMW to head its design centers in Europe and China, respectively. Oliver Samson, previously with Mercedes-Benz, and Lim Seung-mo, formerly of BMW, will take on their new roles as head of the Kia Design Center Europe and head of the Kia Design Center China, respectively, on April 1. Samson and Lim will report to Karim Habib, executive vice president and head of Kia Global Design. The appointments are expec

Mobility March 26, 2024

After topping the sales charts in South Korea’s import car market last year, BMW Korea is looking to sustain its momentum with its new 530e, a plug-in hybrid model that is part of its 2024 eighth-generation 5 Series lineup. Introduced earlier this month, the 530e complements the 2024 lineup of gasoline, diesel, and electric models with its advanced plug-in hybrid technology. The 530e features a combination of a gasoline engine enhanced with BMW's TwinPower Turbo technology that uses a spec

Mobility March 26, 2024

EcoPro, a South Korean battery materials holding company, said Monday that it had invested $11 million for a 9 percent share in Green Eco Nickel, an Indonesian nickel smelter operated by Chinese battery materials firm GEM, to expand the supply of nickel, a crucial raw material for lithium-ion battery production. The Green Eco Nickel smelter, situated on Sulawesi Island in Indonesia, boasts annual production of approximately 20,000 tons of nickel. The investment will allow EcoPro to gain addition

Industry March 25, 2024

Hyundai Motor Group revealed on Sunday its plans to double the number of its ultra-fast chargers for electric vehicles in South Korea to 500 by 2025. As of March, the group operates 286 E-pit EV chargers in 54 locations in Korea. This initiative kicked off in April 2021, with a modest yet strategic deployment of 72 chargers distributed over 12 key rest stops on highways. Achieving the 2025 target of 500 units would mean a 600 percent increase from 2021. E-pit is Hyundai Motor Group’s ultra

Mobility March 24, 2024

HD Hyundai commemorated the 23rd anniversary of the passing of its founder, Chung Ju-yung, with a dedicated memorial event held Thursday that paid homage to his enduring legacy. The tribute took place at the HD Hyundai Global Research and Development Center in Seongnam, Gyeonggi Province, and was marked by a traditional statue unveiling ceremony in memory of the late founder. HD Hyundai Chairman Kwon Oh-gap, Vice Chairman Chung Ki-sun, and executives from affiliates attended the ceremony. The ce

Industry March 21, 2024

South Korean petrochemical firm Hanwha Solutions said Thursday it has developed a proprietary extra-high-quality voltage cable compound to meet the surging global demand for advanced power grid infrastructure. Petrochemicals, derived from petroleum or natural gas, form the basis for advanced polymers used as insulation in extra-high-quality voltage cables. The company’s innovation is Cross-Linked Polyethylene, or XLPE, which enhances the heat resistance and efficiency of power cables throu

Industry March 21, 2024

NCSoft, a leading South Korean gaming firm traditionally led by its founder, Kim Taek-jin, as the sole CEO, mapped out its historic shift to a co-CEO structure, introducing Park Byung-moo as co-CEO to streamline operational efficiency and diversify its business portfolio amid significant financial difficulties. The two co-CEOs explained the dual-leadership strategy during a media briefing broadcast on NCSoft's official YouTube channel on Wednesday. Under this new arrangement, Kim will focus

Companies March 20, 2024

LG Energy Solution, in collaboration with the Korea Advanced Institute of Science & Technology, has made a significant breakthrough in lithium metal battery technology that addresses key challenges regarding its lifespan and safety. This new technology was detailed in the science journal Nature Energy and represents a considerable leap forward in lithium metal battery research and development. Lithium metal batteries are noted for their theoretical capacity advantages over lithium-ion batter

Mobility March 19, 2024

Kumho Tire recently introduced EnnoV, the company's newly branded lineup of tires designed specifically for electric vehicles, stepping up its game in the EV tire competition with Hankook Tire & Technology’s iON brand. The launch took place during the EnnoV Experience Day at the Korea Automobile Testing & Research Institute in Hwaseong, Gyeonggi Province, on March 15. EnnoV marks a significant rebranding effort by Kumho Tire, consolidating its EV-specific tires, including models su

Mobility March 18, 2024

Kia CEO Song Ho-sung on Friday said the automaker is set to lead the mass adoption of electric vehicles with the upcoming launch of the EV3, its most affordable model to date. “Despite recent fluctuations in demand, the future of electric vehicles is undeniable. Leveraging the success of our EV6 and EV9 models, we are poised to introduce the EV3 this year, finally delivering a viable option for the average consumer,” Song said in the company's annual shareholders' meeting.

Mobility March 15, 2024