The export status to Australia of Hanwha Aerospace’s Infantry Fighting Vehicle (IFV), the Redback, is expected to be announced within a few days. When it was tendered in 2018, the project’s scale was 450 armored vehicles (approximately 16 to 24 trillion won), but due to the change of the Australian
LG Energy Solution (LGES) has signed separate partnership agreements with three major critical mineral suppliers in Canada -- Snow Lake Resources Ltd., Electra Battery Materials Corp. and Avalon Advanced Materials Inc.In a ceremony held on Sept. 22 (EST) in Toronto, Canada, LGES signed a binding ter
Hanwha Defense has finalized the location of a large-scale plant in Australia where it can manufacture self-propelled howitzers and infantry combat armored vehicles.The production facility will be built on a site at Avalon Airport in Geelong, 60 km west of Melbourne. The company will build a 32,000-
Japanese automakers have been receiving tax-free treatment of the free trade agreement (FTA) between South Korea and the United States as nine out of 10 Honda and Nissan cars sold in South Korea are manufactured in U.S. plants.The top three Japanese car brands in South Korea enjoy up to 30 billion w
Japanese cars’ share in Korea’s imported car market surpassed 20 percent for the first time since 2010.Japanese cars accounted for 22.2 percent (11,585) of the total imported car market (52,061 units) from January to March of this year, said the Korea Automobile Importers and Distributors Associatio
Toyota Korea has been benefiting from the KORUS FTA by selling U.S.-manufactured cars in Korea. The Korean operation of the Japanese carmaker shifts its tariff savings to its headquarters in Japan.Toyota Korea launched the Avalon Hybrid sedan in South Korea last month. According to industry sources,
Competition among hybrid sedans is getting fiercer as eco-friendly vehicles are gaining popularity due to high oil prices.In January of this year, the Korean government’s subsidy for a hybrid car was reduced from one million won (US$900) to 500,000 won (US$450). However, as oil prices hiked, demand
On March 14 (local time), US-based Consumer Reports reported the Santa Fe as the mid-sized SUV with the lowest maintenance costs for the first 5 years after purchase.According to the report, Santa Fe’s total five year maintenance cost was some 39 million won (US$36,425), whereas the car with the hig
Japanese automobiles accounted for 35% of the Korean import car market in 2008, but have lost more than half of their market share over the last five years. In the mid-2000s, vehicles made in Japan represented the vast majority of the top 10 best-selling foreign cars in Korea. In particular, Lexus r
Seoul Motor Show 2013 will open its ninth show at Korea International Exhibition Center (KINTEX) in Goyang, Gyeonggi Province next month, inviting 331 companies from 13 countries around the world, the biggest scale ever. The show will showcase nine world premieres, 15 Asian premieres and 18 Korean p