Articles by Moon Joon-hyun
Moon Joon-hyun
mjh@heraldcorp.com-
US Navy secretary scouts Korean shipbuilders for fleet support
US Secretary of the Navy Carlos Del Toro toured the shipyards of HD Hyundai Heavy Industries and Hanwha Ocean on Tuesday to explore their military shipbuilding capabilities for handling comprehensive support services for the US Navy fleet, as part of US defense needs to bolster its naval presence in Asia. Del Toro's visit to Korea comes as the US contemplates outsourcing naval ship maintenance, repair, and overhauls, or MRO, to alleviate domestic capacity constraints. These services keep na
Industry Feb. 28, 2024
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Samsung ready to launch Galaxy Ring this year
Samsung Electronics shared Monday that it is expanding its wearable technology portfolio with the introduction of the Galaxy Ring, a health tracker designed for unobtrusive, continuous wear, at a press briefing at the Mobile World Congress 2024 that kicked off this week in Barcelona. Following a teaser at Samsung's Unpacked Event last month, the company has now shared more details about the product. The Galaxy Ring, characterized by its unique ring design, is Samsung's foray into a new
Technology Feb. 27, 2024
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Ex-ministry official to join Hyundai’s global policy team
Hyundai Motor Group said Sunday that Woo Jung-yeop, a former director-general for strategy at South Korea's Ministry of Foreign Affairs, is joining its Global Policy Office as a senior vice president. This appointment, effective Monday, is part of Hyundai's efforts to strengthen its response to global economic challenges, particularly in light of the US Inflation Reduction Act and the forthcoming US presidential election. The Global Policy Office at Hyundai, led by executive vice presi
Mobility Feb. 26, 2024
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French ambassador visits Renault Korea's Busan plant
French Ambassador Philippe Bertoux visited the Renault Korea Motors plant in Busan on Friday, highlighting the facility's role in the automotive industries of both South Korea and France, and its position within the global Renault Group network. The visit was accompanied by Renault Korea Motors CEO Stephane Deblaise and other French Embassy officials including Economic Counselor Adeline-Lise Khov and Commercial Counselor Matthieu Lefort. The Busan plant, where Renault Korea's most popu
Mobility Feb. 25, 2024
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Kia’s eco-friendly Niro hits 1 million units sold
Kia's Niro, an eco-friendly sports utility vehicle lineup featuring exclusively green powertrains, has reached a milestone by surpassing 1 million global sales in eight years after its launch, primarily fueled by the popularity of its hybrid model. According to Kia on Sunday, the Niro tallied 1,082,822 units in global sales by January this year, with a breakdown showing 1,241 units sold in its home market and exports exceeding 10,000 units in January alone. Initially unveiled as a hybrid ve
Mobility Feb. 25, 2024
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[KH Explains] Will LG Energy Solution be Tesla's 4680 battery crisis savior?
Four years after Tesla revealed the hyped Cybertruck, its production still lags with 1.9 million orders pending. The bottleneck stems from challenges in mass-producing what are known as 4680 battery cells, which are key to the Cybertruck’s success due to their superior energy density and cost efficiency. Currently, Tesla can only produce a fraction -- only a tenth -- of the required output, pushing it to lean on global battery manufacturers. LG Energy Solution, a leading South Korean batte
Mobility Feb. 22, 2024
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[KH Explains] Will BYD redefine EV affordability in Korea?
Even those unfamiliar with the world's largest electric vehicle maker BYD Auto may have noticed their commercial electric buses that have been navigating city streets in Korea since 2017. Now the Chinese automaker, known for its exceptional affordability, is reportedly entering the broader consumer Korean EV market in the latter half of this year by introducing the Dolphin hatchback, Atto 3 compact crossover, and Seal midsize sedan electric vehicles. They are currently undergoing a performance e
Mobility Feb. 20, 2024
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Hyundai takes over Mobis' hydrogen fuel cell business
Hyundai Motor Company has acquired a hydrogen fuel cell business from the group's affiliate and auto parts supplier Hyundai Mobis at 217 billion won ($163 million) to consolidate the group's hydrogen energy efforts. The agreement, finalized on Friday, includes a complete transfer of assets, personnel, and operations related to Hyundai Mobis' domestic hydrogen fuel cell activities to Hyundai Motor Company. Hyundai Motor Group is streamlining its operations by focusing its hydrogen
Mobility Feb. 16, 2024
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LS Cable, Germany’s VAC team up for EV magnets
LS Cable & System, through its subsidiary LS Eco Advanced Materials, has partnered with European magnet manufacturer Vacuumschmelze to create a joint venture aimed at making special magnets needed for electric vehicles. Announced on Wednesday, this partnership will start producing 1,000 tons of neodymium permanent magnets annually by 2027, enough for half a million electric cars. Neodymium permanent magnets are crucial for the motors that power electric cars, making this venture particularly
Mobility Feb. 16, 2024
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Hyundai Motor to cut foreign chip reliance with local push
South Korea's Hyundai Motor Group has initiated a project aimed at significantly boosting the local production and procurement of automotive semiconductors from early this year, according to industry sources on Friday. Challenges stemming from the auto group's heavy reliance on international suppliers for its semiconductor needs, such as supply chain vulnerabilities exposed during the global pandemic, are expected to be resolved through the initiative. Over 90 percent of Hyundai's
Mobility Feb. 16, 2024
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[KH Explains] Will Korea's new EV subsidies undercut Tesla's edge?
The South Korean government is carrying out a strategy to boost the price competitiveness of electric vehicles from domestic automakers with a revised EV subsidy policy for this year. It is seen as a response to aggressive pricing strategies of Chinese automakers and models equipped with Chinese batteries, such as the Tesla Model Y, which utilizes cost-efficient lithium iron phosphate batteries from China's CATL. These models are becoming increasingly pervasive due to their affordability. Chines
Mobility Feb. 15, 2024
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Hyundai Motor fast-tracks US EV plant to 2024
Hyundai Motor Group has once again moved up the launch of its new US plant solely dedicated to producing electric vehicles to October this year, three months ahead of its current schedule, to enhance its readiness to toughened subsidy rules. "We're pulling ahead because everybody knows how important it is because so far we don't qualify for federal tax credits," Hyundai Motor America CEO Jose Munoz said during an interview with Automotive News, an American automotive industry media ou
Mobility Feb. 14, 2024
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Renault Korea hires new lead for smart vehicle tech
Renault Korea Motors, the South Korean unit of French automotive giant Renault Group, said Tuesday it has appointed Regis Brignon, a software and electrical systems specialist, to lead the development of its software-defined vehicles, or next-generation smart vehicles, for the Korean market. Starting in February as the director of systems engineering operations at Renault Technology Korea, he will lead teams in developing next-generation technologies for future Renault models made in Korea, inc
Mobility Feb. 13, 2024
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Hyundai Motor nears 100m sales milestone
Hyundai Motor Group is highly likely to surpass the 100-million-vehicle sales mark this year, 56 years after it started selling cars in Korea in 1968. According to the carmaker on Monday, it has sold close to 97 million vehicles around the world as of last year. Of these, about 24 million were sold in Korea's domestic market, accounting for approximately 25 percent of total sales, while the remaining 73 million, or 75 percent, were sold internationally. To achieve the 100 million milestone,
Mobility Feb. 12, 2024
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Korea’s defense exports amount to $14b last year
South Korea secured its place among the world's top 10 defense exporters for the second consecutive year in 2023 with approximately $14 billion in exports, anticipating continued demand this year bolstered by substantial deals already in place. Data from the Korean Ministry of National Defense and domestic defense companies published on Monday show that Korea, ranking ninth globally behind Spain, expanded its export markets to 12 countries last year, including new partners like the United A
Industry Feb. 12, 2024
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