Korea is closely evaluating potential impacts on its key manufacturing sectors in response to steep US tariff hikes on key Chinese imports, bracing for potential supply chain disruptions while hoping to capitalize on any advantages. US President Joe Biden on Tuesday announced tariff hikes against Chinese imports, targeting a range of products including electric vehicles, legacy semiconductors, advanced batteries, battery components, solar cells, steel, critical minerals, aluminum and medical eq

Industry May 15, 2024

Kia has officially launched an upgraded version of the EV6 in the Korean market, with sales starting Tuesday and deliveries expected by June. "The new EV6 will launch internationally within this year," a Hyundai Motor Group official told the Korea Herald. This latest update, the first in about three years since August 2021, increases the maximum driving range to 494 km per charge, according to the Korean Ministry of Environment certification. This represents a 19 km improvement over t

Mobility May 14, 2024

Orsted, a company that has transformed itself from one of Europe’s most carbon-intensive power generators into a global leader in green energy, is now seeking to lead the charge against climate change in Asia. In anticipation of the H.eco Forum 2024, scheduled to take place on Some Sevit in Seoul on May 22, The Korea Herald spoke with one of the session speakers, Christy Wang, chairperson of Orsted Taiwan, to discuss the company’s journey, its contributions to Taiwan's offshore

Industry May 14, 2024

Hyundai Motor Group's joint venture Motional announced staff reductions and a two-year delay to its driverless taxi service plans last week, following the group's 1.29 trillion won ($941 million) injection into the startup earlier this month, reflecting growing industry pessimism about the viability of self-driving cars. Hyundai established Motional with Aptiv in the US in 2020 and launched its Ioniq 5-based robo-taxi service with Uber and Lyft last year. However, the rollout of the second-

Mobility May 12, 2024

Hyundai Mobis, the parts and service arm under Hyundai Motor Group, will construct a dedicated electric vehicle module plant in Ulsan, South Korea, with an investment of approximately 90 billion won ($65 million) and completion expected in late 2025. The company signed an investment memorandum of understanding with the Ulsan Metropolitan City on Thursday, with Ulsan Mayor Kim Du-gyeom and Hyundai Mobis CEO Lee Gyu-suk attending the signing ceremony. Located near Hyundai Motor Group's upcomi

Mobility May 9, 2024

South Korea's battery industry has secured a two-year reprieve from the US Inflation Reduction Act restrictions on electric vehicle batteries containing Chinese graphite, giving it time to diversify its supply chain while the Korean government has committed 9.7 trillion won ($7.1 billion) in policy financing to support this transition. Following negotiations and advocacy by the Korean government and related industries, the US government on Friday agreed to suspend specific provisions of the

Mobility May 8, 2024

Come In Wash, a Korean company specializing in automated car wash systems, is speeding up its global expansion through its patented “no-touch, no-brush” car wash technology. Established in 2019, Come In Wash rose to prominence at home with its innovative technology that relies only on high-pressure water jets to clean vehicles, without the need for brushes. Since then, this technology has gained international acclaim with expansions into the Philippines, Japan and the United States.

Companies May 1, 2024

Korean battery materials producer Posco Future M has partnered with Japanese automaker Honda Motor to create a joint venture focused on producing cathode materials for electric vehicle batteries in the Canadian province of Ontario to bolster the supply chain for electric vehicles in North America. Under the agreement signed Thursday, the joint venture will supply cathode materials directly to Honda for use in the production of electric vehicle batteries across the continent. They plan to finaliz

Industry April 26, 2024

Since mid-March, Korea's leading shipbuilders have seen a significant uptick in their stock prices. Despite a sluggish start to the year due to a saturated order book and limited production capacity, renewed optimism has emerged among investors, possibly due to the anticipated benefits from escalating trade tensions between the US and China, along with the depreciation of the Korean won. Whether the trade war is the exact cause is unclear, particularly due to limited American purchasing pow

Mobility April 25, 2024

SK Leaveo, a subsidiary of South Korean chemical giant SKC specializing in biodegradable materials, has formed a partnership with paper product manufacturer KleanNara to create a new line of biodegradable hygiene products, starting with eco-friendly wet wipes. Under a newly signed agreement on Wednesday, SK Leaveo and KleanNara will focus on producing hygiene products that are not only sustainable but also practical for everyday use. The collaboration aims to harness new materials such as poly

Industry April 24, 2024

LG Energy Solution announced new stringent policies Wednesday to address rampant patent infringements by what it describes as "patent free-riders." The nation's top battery maker plans to enforce its intellectual property through legal actions and promote equitable competition by contributing to a legitimate battery patent licensing market. This decision comes in response to an increasing number of companies -- both new entrants and established manufacturers -- exploiting LG Energ

Industry April 24, 2024

Hyundai Motor Company launched its new ST1 series of electrified, purpose-built vehicles for commercial use on Tuesday, aiming to diversify and enhance the efficiency of commercial vehicles for both logistics applications and beyond. An open API-based software platform -- a first for Hyundai vehicles -- is a standout component of the series, which expands the possibilities of today's commercial vehicles by providing the exact telematics data that each business user needs. The unveiling too

Mobility April 24, 2024

Samsung SDI is exhibiting its next-generation "super-gap" battery technologies, including all-solid-state batteries and ultra-fast charging solutions, at the 37th Electric Vehicle Symposium & Exposition in Seoul from Tuesday, where it plans to show its ongoing progress in achieving future commercial availability. The event, known colloquially as the "World EV Olympics," has been a key international platform for electric mobility since its inception in 1969. This year mark

Mobility April 23, 2024

BMW Group officially opened the doors to its expanded research and development center in Korea in Cheongna International City on Monday. This transformed facility, originally launched in 2015 within the BMW Driving Center premise on the nearby island of Yeongjongdo, has now moved and evolved into a comprehensive, standalone R&D center dedicated to advancing BMW's innovations outside of Europe, alongside its centers in the US, China, Japan, and Brazil. The BMW Group R&D Center Korea

Mobility April 22, 2024

LG Innotek has clinched a silver Edison Award for its ultra-thin optical telephoto zoom camera module for smartphones, marking its second consecutive Edison win, the company said Sunday. The module, which allows for 3x to 5x magnification, brings what the company describes as near-DSLR-quality optical zoom in a single compact unit. First commercialized in 2022, this innovation enhances image quality and spares internal device space for other components. The core of this technology is the Zoom Ac

Technology April 21, 2024