An increasing number of automakers are working on electric vehicle (EV) batteries on their own. However, such batteries require a lot of time and investment and cannot be easily developed and, as such, experts say that some of their efforts will be unsuccessful.Tesla recently acquired Hibar Systems,

Automobile production in Korea slid by about 5 percent in September compared to a year ago. The blame falls on GM Korea workers’ strike and Hyundai Motor’s sluggish commercial vehicle sales.According to the Korea Automobile Manufacturers Association on Oct. 10, a total of 278,016 vehicles were produ

SsangYong Motor announced on Oct. 10 that it will enter the Saudi automotive market with a license agreement for local assembly production with Saudi National Automotive Manufacturing Co. (SNAM).The two companies held a license signing ceremony at the SNAM office in the Jubeil Industrial Complex in

LG Technology Ventures, a venture capital firm established by LG Group in Silicon Valley to look for future growth engines, is investing in a biotech startup this time.The company recently participated in a US$85 million series B funding round promoted by Arcellx in the United States, according to i

As artificial intelligence (AI) has emerged as a vital part of the Fourth Industrial Revolution, many companies and researchers at home and abroad are taking on the development of AI-integrated services in the bio-health sector.In particular, Korea can stand out in this sector as it has strong ICT i

Hyundai Motors is reportedly considering launching a new electric vehicle (project name: NE) in the European market first before its launch in Korea.Hyundai is planning to produce the new model NE at its Ulsan plant in Korea during the first quarter of 2021, said sources in the Korean automobile ind

Major Korean petrochemical companies are rushing to develop lighter materials for electric vehicles (EVs). They are revamping their organizations to focus on development of advanced materials for electric cars.A typical example is SK Chemicals which has decided to absorb its subsidiary Initz last mo

Hyundai Engineering & Construction and the Quang Ninh Province of Vietnam had a meeting on Oct. 3 to discuss the construction of an underwater tunnel between Bai Chay and Hon Gai.Hyundai presented a specific business plan at the meeting. The total construction cost is estimated at 504.6 billion won,

Qatar Petroleum is expected to select builders for its LNG carriers within this year, raising expectations of the big three Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries.Earlier market watchers speculated that Qatar migh

GS Engineering and Construction (E&C) will participate in a US$1.4 billion petrochemical plant project in Turkey as a major investor.The company announced on Oct. 8 that it signed a shareholder agreement with Rönesans Holding of Turkey to acquire a 49 percent stake in Ceyhan Petrokimya Endustriyel Y

Samsung Heavy Industries has won a one-trillion-won order for large container ships.Samsung Heavy Industries announced on Oct. 8 that it received a US$920 million order to build six 23,000-TEU container ships from Taiwan's shipping company Evergreen Line. A 23,000-TEU container ship will be the

Hankook Tire & Technology announced on Oct. 7 that it will supply high-performance tire Ventus S1 Evo 3 SUV to the 3rd-generation Cayenne, a sports utility vehicle (SUV) of Porsche.Hankook Tire, which first partnered with Porsche through the supply of tires for the crossover SUV model Macan, signed

Korea Western Power Corp. announced on Oct. 7 that it has successfully tested prototypes of equipment and devices for desulfurization facilities that were produced by its own engineers through advanced 3D printing technology.The tests were carried out at a test bed installed at the company's pla

KCF Technologies (KCFT), a Korean copper foil supplier which will be soon taken over by SKC of SK Group, has begun mass production of 4-micrometer (μm) copper foil for electric vehicle (EV) batteries, becoming the industry’s first company to achieve the milestone.KCFT announced on Oct. 7 that it mas

The Big 3 Korean shipbuilders -- the Hyundai Heavy Industries Group, Daewoo Shipbuilding & Marine Engineering (DSME), and Samsung Heavy Industries -- are winning a growing number of orders for LNG-fueled vessels. They are already well recognized for their technological prowess in building LNG carrie

Renault Samsung Motors reduced the production volume of its plant located in Busan City by 25 percent, starting from Oct. 7, by producing 45 instead of 60 cars per hour. The company is considering various measures regarding idle workforce management.It received applications for voluntary retirement

SsangYong Motor slid two notches from third place to fifth in car sales rankings in the Korean market in September.It not only lost its third place in monthly sales to Renault Samsung but placed fifth after Mercedes-Benz for the first time this year.Hyundai Motor and Kia Motors came in first and sec

Outside consultants of Hyundai Motor Group pointed out that the group’s required manpower can decrease by up to 40 percent as a result of a future change in automobile production technology.“With the focus of the industry shifting from manufacturing to service and digitalization, the group is likely

KT announced on Oct. 3 that it has signed a memorandum of understanding (MOU) with Korea Midland Power (KOMIPO) to build smart power plants based on 5G communications technology.Under the agreement, KT will build a 5G network at power plants and cooperate with KOMICO in developing 5G services for sm

LG Chem is promoting an electric vehicle (EV) battery joint venture with General Motors (GM), which is planning to establish an EV battery plant in the United States.GM has suggested the construction of an EV battery cell plant as a negotiation card with the United Automobile Workers (UAW), which en