Articles by Moon Joon-hyun
Moon Joon-hyun
mjh@heraldcorp.com-
LG Energy Solution breaks ground on $5.5b Arizona battery complex
LG Energy Solution has started construction on its second stand-alone battery manufacturing complex in the United States, located in Arizona, with a groundbreaking ceremony and stakeholder meeting on Wednesday. Announced last year, the $5.5 billion project will stand out as the first of its kind in North America, dedicated entirely to the production of cylindrical batteries for EVs and lithium iron phosphate pouch-type batteries for energy system solution applications. The company aims to comple
Industry April 4, 2024
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Renault Korea announces rebrand for fresh start
Renault Korea, the Korean branch of the French automotive firm, announced on Wednesday a significant rebranding initiative and the 2025 launch of the Renault Scenic E-Tech, an all-electric compact crossover SUV, in the Korean market. The announcement was made during a press conference at the Renault Seongsu flagship store in eastern Seoul. The rebranding sees Renault Korea shedding its previous moniker, Renault Korea Motors, in favor of a sleeker identity that simply reads "Renault Korea.&q
Mobility April 3, 2024
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HD Hyundai Marine Solution ready for record IPO
HD Hyundai Marine Solution, an industry leader in ship life cycle maintenance formerly known as Hyundai Global Service, has detailed a growth framework for its stock market debut as it gears up for what is expected to be Korea's largest initial public offering in the first half of 2024. The company held a press conference on Tuesday at the company's Global Research and Development Center in Seongnam, just south of Seoul, as it prepares to join the Korea Composite Stock Price Index in M
Industry April 3, 2024
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[Herald Interview] Seoul anchors Rolls-Royce's Asian luxe
Seoul is soon to be the third city hosting a Rolls-Royce Motor Cars Private Office, an exclusive design studio where clients can work closely with bespoke managers and designers to create their own custom Rolls-Royce. “The Seoul Office covers clientele from the whole Asia-Pacific, not just Korea, like the Dubai Office is for the Middle East and the Shanghai Office for China. Believe me, our team looked at 60 places across Asia for a whole year to find the perfect spot. And we’ve dete
Mobility April 2, 2024
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[KH Explains] Korean shipbuilders eye US yards to tap Navy's lucrative repair deals
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
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Hyundai Motor grabs triple win in World Car Awards
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
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[From the Scene] Extreme climates to battery cells: Inside Hyundai's safety efforts
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
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Posco Future M named in Fortune's top 30 Asian innovators
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
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[Hello India] Corporate Korea sees new growth drivers in India
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
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Kia hires ex-Mercedes, BMW designers
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
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BMW looks to continue winning streak with new hybrid 5 Series
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
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EcoPro invests $11m to secure stake in Indonesian nickel smelter
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
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Hyundai Motor to double E-pit fast chargers by 2025
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
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HD Hyundai honors late founder
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
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Hanwha develops extra-high voltage cable compound
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
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