Global sales of hydrogen vehicles fell more than 30 percent in 2023 from the previous year. The decline was largely due to a slump in sales of Hyundai Motor which ranked first in the global hydrogen vehicle sales standings and held the majority of the global hydrogen vehicle market share.The total n
The Ministry of Land, Infrastructure, and Transport (MOLIT) announced that a voluntary recall will start for about 40,000 vehicles from Hyundai Motor Company, Mercedes-Benz Korea, BMW Korea, Honda Korea, and Man Truck Bus Korea for manufacturing defects.According to MOLIT on Feb. 8, 18,664 Hyundai K
SoftBank Ventures Asia is officially changing its company name to SBVA from beginning of February 1st after The Edgeof acquired the company from SoftBank Group Corp.(SBG) in June of last year. The new SBVA embraces the concept of technological singularities and the broader impacts of the virtues of
Following the largest fine ever imposed by the Fair Trade Commission due to a game item probability manipulation controversy, Nexon announced improvements just one week later.On Jan. 9, Nexon apologized for the recent controversy in a live broadcast starting at 6 p.m. and announced the suspension of
Hyundai Motor India Limited (HMIL), announced Rs 6 180 Crore investment plans in the state of Tamil Nadu (this includes Rs 180 crore towards a dedicated ‘Hydrogen Valley Innovation Hub,’ in association with IIT- Madras). This is in addition to the Rs 20 000 Crore investment planned in a phased manne
Nexon Korea, the operator of the online game MapleStory, is set to face a hefty fine of more than 10 billion won from the Korea Fair Trade Commission for selling game items with virtually zero chance of being won.The KFTC announced on Jan. 3 that it would impose a corrective order and a fine of 11.6
A public tender for a 4.7 trillion won stake in NXC, the holding company of Nexon, has ended empty-handed again.The second tender for 851,968 shares (29.3 percent stake) of NXC failed to find buyers, according to the Online Tender Offer System of Korea Asset Management Corporation (KAMCO) on Dec. 29
The number of venture companies with annual revenue exceeding 100 billion won (US$76.8 million) last year reached the record high of 869, the highest figure in history. The growth rate also set a new record, achieving an unprecedented 17.6 percent increase, or 130 companies, compared to the previous
Hyundai Motor Group will transfer all of its hydrogen business capabilities to one subsidiary. Hyundai Mobis’ hydrogen fuel cell production management division will be transferred to Hyundai Motor to complete the Korean automotive group’s value chain of hydrogen mobility production and boost its eff
The outline of SK Group’s hydrogen business, one of its future growth drivers, is gradually becoming visible. However, as the hydrogen business is in its early stages, it may take a considerable period of time for the Korean business group to turn a profit.SK Group has recently begun its hydrogen bu
SK Inc. has laid out an ambitious plan to invest 23 trillion won (US$17.82 billion) in eco-friendly initiatives by 2025, with a primary focus on “energy transition.” SK Group Chairman Chey Tae-won has shown keen interest in transforming SK’s business landscape from a petroleum-centric structure to o
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Earnings season for the sector is to begin on Aug 2 with Kakao Games. As earnings at Alphabet and Meta Platforms came in solid, Korean Internet companies are also expected to perform well. If the
“Sub-culture games” made by Korean game publishers are faring well in Asian markets. Subculture games are games that highlight Japanese anime-style girl characters and are targeted at specific groups of enthusiasts. Korean subculture games are gaining in popularity in China after Japan, so it remain
The Fair Trade Commission is reportedly conducting a survey on subcontract transactions targeting major game companies in Korea.According to the IT industry on June 28, the Fair Trade Commission recently started on-site investigations into major domestic game companies. In January, the Fair Trade Co
The Korean government and companies will invest more than 3 trillion won in quantum science and technology by 2035. This is more than ten times the amount invested in the past five years (276.1 billion won). Experts say that Korea laid out a blueprint to become the world’s fourth-largest quantum pow
The author is an analyst for Shinhan Securities. He can be reached at sokang@shinhan.com -- Ed.Fears over possible reinstatement of China’s ban on Korean contentIn December 2022, Chinese regulators resumed granting license approvals for games developed by Korean companies, which was followed by addi
The petrochemical industry is struggling to recover, scrambling to secure growth drivers in specialty areas. In response to China’s expansion of its self-sufficiency rate, they are trying to secure market competitiveness by focusing on high-value-added products. In particular, they are actively fost
Hyundai Motor Group, which re-entered the Japanese market last year after 13 years, faced difficulties again. Starting with the IONIQ 5, a dedicated electric vehicle that received favorable reviews in the global market, it knocked on the door of the Japanese market again, but it has not produced any
Sports utility vehicles (SUVs) accounted for more than 70 percent of Hyundai Motor Group’s cars sold in the United States. They have higher margins per unit than sedans, so Hyundai Motor Group’s profitability is also expected to grow significantly.Hyundai Motor Company (including the Genesis brand)
The labor union of Nexen Tire’s plant in the Czech Republic announced through a local social network on Jan. 25 that it would go on strike on Jan. 31.The labor union claimed that it had tried to narrow differences with the management over the past year with regard to a pay raise and other working co