Hyundai Motor Company and Kia Corp. have developed the world’s first next-generation drive system that dramatically boosts vehicle design flexibility by placing electric vehicle drive components inside wheels. This new system can realize the utilization of the space between wheels, which was previou
On Nov. 25 (local time), construction began on Hyundai Motor’s electric vehicle-dedicated factory, “Hyundai Motor Group Metaplant America (HMGMA),” in Ellabell, Georgia, the U.S.Alongside the increase in automobile exports, the export of automotive parts is also on the rise. As the supply of finishe
South Korean shipbuilding companies are actively considering the construction of overseas production bases to address a shortage of manpower. However, some are raising concerns about potential “technology leakage” arising from the construction of overseas shipyards.According to industry sources on N
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
A race to host the 2030 World Expo is coming down to the wire. The Bureau International des Expositions (BIE) will hold a general assembly in Paris, France, on Nov. 28 (local time) to select the host country for the 2030 World Expo.Korea started its bid about one year later than its rivals such as S
Hyundai Engineering & Construction announced on Nov. 17 that they have won the Awards of Excellence and Honourable Mention in the apartment complex category and the playground design category, respectively, at the 2023 IFLA Award held at Futako Tamagawa Rise Studio & Hall in Tokyo, Japan.The winning
Korean railroad companies such as Korea National Railway, KORAIL and Hyundai Rotem will participate in a Ukrainian railway reconstruction project in earnest.The Korean Ministry of Land, Infrastructure, and Transport, Korea National Railway and KORAIL announced on Nov. 22 that they formed the Railway
Korean low-cost carriers (LCCs), which have been adding aircraft to expand their mid- to long-haul routes, are seemingly disappointed over their plans to launch new routes to Indonesia.Major Korean LCCs are considering scrubbing plans to launch routes to Indonesia this year, according to industry so
Hyundai Motor Group and U.S.-based company Aptiv’s autonomous driving joint venture, Motional, are starting production of the IONIQ 5 Robotaxi in Singapore.According to Motional on Nov. 22, production has begun at the Hyundai Motor Group Singapore Global Innovation Center (HMGICS) for the IONIQ 5 Ro
HD Hyundai Heavy Industries held a keel-laying ceremony on Nov. 22 at its Ulsan shipyard for the first of the 3,200-ton class Philippine patrol vessels, attended by naval and defense industry officials from both South Korea and the Philippines.The 3,200-ton class patrol vessel, constructed by HD Hyu
Samsung Electronics has been ranked among the top five global brands for the fourth consecutive year.The Korean tech giant took fifth place in the world with a brand value of US$91.4 billion. This is a 4 percent jump from 2022, according to the Global 100 Brands released by Interbrand, a global bran
The Hyundai Motor Group Innovation Center in Singapore (HMGICS) is an urban micro-factory. Urban micro-factories are characterized by a multi-vehicle, low-volume production system rather than mass production of a traditional automobile factory. Although Singapore has a small automobile market, it is
The average wages of employees belonging to the “Big 3” shipyards in South Korea -- HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean -- have increased by approximately 15% in the past year. Particularly noteworthy is Hanwha Ocean, where the average wage surged by around 12 mil
Hyundai Motor Company today announced that its brand value reached $20.4 billion in Interbrand’s ‘Best Global Brands 2023’, ascending in valuation for 13 straight years. This represents the third highest year-over-year valuation increase out of 100 brands. The company’s brand rank rose from 35th to
The Korea Startup Forum (Chairman Jae-Wook Park, hereinafter referred to as KSF), the organizing organization of the global startup festival COMEUP, announced that COMEUP 2023, which was held at Dongdaemun Design Plaza (DDP) for three days from November 8 to 10, attracted about 66,000 people. It was
Hyundai Motor Group’s three car brands -- Hyundai, Kia and Genesis -- sold 173,428 units in the U.K. passenger car market in the first 10 months of this year, up 8.7 percent year on year, according to the Society of Motor Manufacturers and Traders (SMMT) on Nov. 20. Their market share stood at 10.8
Prosecutors have embarked on a search and seizure operation targeting the CEO of Hyundai AutoEver and others.The Fair Trade Investigation Division of the Seoul Central District Prosecutors’ Office announced that they have been conducting search and seizure operations at a total of four locations, in
South Korean conglomerates, including Samsung and LG, are set to unveil new home appliances, mobile technologies, and mobility (automotive) solutions at CES 2024, the world’s largest electronics trade show held in the United States, embarking on extensive promotional activities.According to industry
Thomas Ingenlath, CEO of Polestar and a designer by profession, made a surprise announcement at the Polestar Day event held in Los Angeles, California, on Nov. 9 (local time). He revealed plans to produce the Polestar 4, a coupe-style Sports Utility Vehicle (SUV), in South Korea.On Nov. 16, the auto
Hyundai Engineering announced on Nov. 16 that it participated in the 2023 Rebuild Ukraine Exposition, held in Warsaw, Poland, from Nov. 14 to 15, and signed two memoranda of understanding (MOUs) for cooperation in “Modular Construction Projects” and “Fertilizer and Chemical Business.”Hosted by Ukrai