SK On, the battery manufacturing subsidiary of SK Group, has announced the launch of a voluntary retirement program as part of its efforts to enhance workforce efficiency and to turn a profit by the end of this year. In a statement released Thursday, SK On outlined two key initiatives: a special leave program aimed at fostering employee development and a voluntary departure program for workers considering early retirement. These measures come as the company navigates a slowdown in the EV industr

Companies Sept. 26, 2024

Egypt's Ambassador to Korea, Khaled Abdelrahman, highlighted the growing potential for collaboration between Egypt and South Korea, particularly in investment and tourism, during the second session of the Global Business Forum Wednesday. Hosted by The Korea Herald, the forum seeks to facilitate knowledge exchange and build networks among Korean business and academic leaders to address the challenges posed by technological advancements and societal shifts. The GBF commenced its sixth edition

Economy Sept. 26, 2024

The H2 MEET 2024, a major global exhibition on hydrogen technology held in South Korea, kicked off Wednesday at Kintex in Goyang, Gyeonggi Province, to showcase the latest innovations in hydrogen technology, including key contributions from Hyundai Motor Group. This year’s exhibition runs for three days and is the largest in the event’s five-year history, bringing together 317 companies and organizations from 24 countries. “This is a great opportunity to showcase Korean innovat

Industry Sept. 25, 2024

Starting in the second half of 2026, the US will ban the sale of connected cars using Chinese-made software, with further restrictions on hardware to begin in 2029, a move that will pressure global automakers, including South Korea’s Hyundai Motor and Kia, to diversify their supply chains. On Monday, the US Department of Commerce’s Bureau of Industry and Security announced a proposed rule that would prohibit the sale and import of connected vehicles containing Chinese or Russian soft

Mobility Sept. 24, 2024

SK On will begin mass production of electric vehicle batteries for Hyundai Motor Co. in the US next month, a move expected to help the battery maker turn a profit for the first time after years of losses. The company’s US unit, SK Battery America, will reportedly begin partial production at its Georgia Plant 2, supplying batteries for Hyundai’s new EV production facility, Hyundai Motor Group Metaplant America, also located in Georgia. According to industry sources on Monday, SK On ha

Mobility Sept. 23, 2024

Nexon, the developer behind popular soccer video games FC Online and FC Mobile, said Monday it will host a real-life exhibition match featuring retired soccer legends, including Didier Drogba, Kaka and Rio Ferdinand, at Seoul World Cup Stadium on Oct. 19 and 20. The Icon Match is a collaboration between Nexon and the Korean soccer YouTube channel Shoot for Love. It will showcase former star players featured in Nexon’s games as part of the Icon Class -- a collection of legendary soccer play

Soccer Sept. 23, 2024

Hyundai Motor Group's Executive Chairman Chung Euisun visited the company’s Czech manufacturing plant last Thursday to assess Hyundai’s European operations as part of a state trip with South Korean President Yoon Seok Yeol. During the trip, Hyundai Motor Group also signed several memorandums of understanding with Czech companies and universities to collaborate on future mobility initiatives, including hydrogen energy and advanced automotive technologies. This was part of a large

Mobility Sept. 22, 2024

Electric vehicle owners in South Korea’s crowded apartment complexes are beginning to feel like social outcasts. “In my apartment, EV users are sometimes treated like criminals,” said Lee Ho-deok, an EV owner living in a large apartment complex in Seoul’s Mapo district, when describing the tense atmosphere. In a city where over 85 percent of the population lives in multi-unit housing, apartment residents already contend with longstanding issues like noise between floors.

Mobility Sept. 22, 2024

Hyundai Glovis, South Korea's sole provider of pure car and truck carriers, is expected to increase its global presence as charter rates for automobile-carrying vessels continue to remain high due to a persistent shortage of ships in the global maritime transportation market. According to data from Clarksons Research on Thursday, a UK-based shipping market analysis firm, the average daily charter rate for a 6,500-Car Equivalent Unit (CEU) carrier in the third quarter of this year reached ap

Industry Sept. 19, 2024

Kia is showing signs of recovery in China, recording more than 20,000 units in monthly sales for three consecutive months from June to August. If this momentum continues, the company is on track to reach or surpass its goal of selling over 200,000 units in China by the end of the year. Kia’s recovery is primarily driven by two factors: the introduction of new, market-specific models and an expansion of its export operations. According to Kia’s Chinese joint venture, Jiangsu Yueda Kia

Mobility Sept. 17, 2024

Corporate vehicle sales in South Korea continue to plunge this year, particularly among high-end imported models, due in large part to a new government policy aimed at curbing tax abuses. The introduction of lime green license plates for costly corporate-owned cars, effective January 2024, is seen as a primary factor behind the sharp decline. According to data from the Carisyou Data Research Institute, registrations of corporate vehicles priced over 80 million won (approximately $59,600) fell by

Mobility Sept. 16, 2024

Kia has joined forces with Canadian fleet data provider Geotab and Hyundai Motor Group’s software arm 42dot to create an advanced fleet management system for its new line of purpose-built vehicles. This collaboration, formalized in a memorandum of understanding signed Friday at Geotab’s headquarters in Canada, marks an important step in developing solutions for businesses that manage large vehicle fleets. Kia’s PBVs are commercial electric vehicles designed to be customizable.

Mobility Sept. 13, 2024

Shipbuilding rivals HD Hyundai and Hanwha Group are gearing up for Gastech 2024, the world’s largest energy sector exhibition, held from Tuesday to Sept. 20 in Houston. Attracting over 50,000 attendees and more than 800 companies, the event will spotlight the companies' eco-friendly shipbuilding and energy technologies. HD Hyundai will be represented by Vice Chairman Chung Ki-sun, along with a team from sales, R&D and engineering, to meet with business partners and corporate clien

Industry Sept. 12, 2024

Bentley Motors Korea has just unveiled the fourth-generation Flying Spur in South Korea, marking the global debut of this luxury sedan with an all-new plug-in hybrid system. After announcing the new Flying Spur on Tuesday, Bentley Motors Korea held an in-person media reveal on Wednesday at the Bentley Tower in Dongdaemun, Seoul. “South Korea is incredibly important to Bentley, and the Flying Spur has really resonated with customers here. Last year, it became the first luxury sedan in its p

Mobility Sept. 11, 2024

Hyundai-Kia’s electric powertrains, featured in the Hyundai Ioniq 5 N and Kia EV9 GT-Line, have been recognized by US automotive publication WardsAuto as two of the 10 Best Engines & Propulsion Systems for 2024. This also is the third straight year that Hyundai Motor Group’s E-GMP electric vehicle platform, has earned this prestigious recognition. WardsAuto has been holding automotive powertrain awards since 1995. Expanded in 2019 to include electric propulsion systems, the award

Mobility Sept. 10, 2024