HD Hyundai announced that it will build HD Hyundai’s artificial intelligence (AI) platform based on Google Cloud’s technologies and solutions.Through this collaboration with Google, HD Hyundai plans to accelerate its digital transformation by introducing generative AI technology to its core business
The recently sold Hyundai Motor Russia plant, acquired by a Russian company for a mere 10,000 rubles, approximately 140,000 won (US$108), is showing signs of resuming operations early next year.Interfax reported on Dec. 26 (local time) that the Hyundai Motor plant in St. Petersburg, Russia is expect
As a consequence of the aftermath of the Russia-Ukraine war, Samsung Heavy Industries has suspended the production of blocks and components for 10 out of 15 liquefied natural gas (LNG) carriers contracted with a Russian shipyard. This move aligns with the international community’s collaborative effo
Samsung Heavy Industries (SHI) and Hanwha Ocean, two of the three major Korean shipbuilders along with HD Korea Shipbuilding & Offshore Engineering (KSOE), are expected to fail to meet their annual order targets set earlier this year by the end of December.According to sources in the shipbuilding in
Leading defense industry companies in South Korea, including Hanwha Aerospace, Korea Aerospace Industries (KAI), LIG Nex1, Hyundai Rotem, and Hanwha Ocean, have hit “contract jackpots” in countries like Poland and Australia, marking a significant shift for South Korea from a defense equipment import
Top executives from major South Korean conglomerates are set to make a strong presence at “CES 2024,” the world’s largest Information Technology (IT) and consumer electronics expo to be held in Las Vegas, Nevada, in the U.S. next month.According to business sources on Dec. 25, key executives from ma
According to the International Contractors Association of Korea (ICAK) on Dec. 25, the total value of construction contracts in the Middle East, including Saudi Arabia and the United Arab Emirates (UAE), has reached US$8.38 billion from the beginning of the year to the end of November this year, mar
For the first time in four years, business leaders from South Korea and China are meeting in Seoul to identify industries for cooperation between the two countries and to discuss future initiatives such as supply chain cooperation and carbon neutrality.The Korea Chamber of Commerce and Industry (KCC
Hyundai Motor Group (the Group) today announced key executive appointments for the second-half of the year 2023. Through the appointments, the Group aims to strengthen its leading position in future mobility solutions and innovations and better prepare for uncertainties in the global business enviro
Germany’s abrupt suspension of subsidies for electric vehicles (EVs) sold in the country is puzzling South Korea’s auto industry, which exports electric vehicles to the region. This along with France’s plan to reorganize its EV subsidies to measure carbon emissions and provide differential subsidies
Hyundai Mobis (KRX 012330) will unveil 20 production-ready mobility technologies at CES 2024. These include the ‘Innovative Display’ series, packed with high-value advanced technologies, and the high-power Integrated Charging Control Unit (ICCU), a critical future mobility technology, which are like
POSCO International is rapidly transforming into an eco-friendly comprehensive business company and a business platform provider.POSCO International announced on Dec. 19 that, in its first year since the merger with POSCO Energy, it has successfully established three major business value chains -- e
Hyundai Motor plans to sell its Russian plant, which has been idle for nearly two years, to a local company for a mere 140,000 won (US$107.12). However, the contract includes a “buyback” clause, allowing Hyundai to repurchase the facility within the next two years, in anticipation of the possibility
Hyundai E&C and Hyundai Engineering announced the award of a contract worth 3 trillion won for the Phase 2 expansion project of the Zafura Gas Field in Saudi Arabia.The contract value is 1.5345 trillion won (US$1.1728 billion) for each company, accounting for 7.23% of Hyundai E&C’s 2022 annual reven
Samsung Electronics, once the world’s No. 1 research and development (R&D) company, has slipped to seventh place. The number of Korean companies in the top 2,500 global R&D companies has also dropped.Samsung’s R&D investment in 2022 amounted to 18.435 billion euros (US$20.083 billion), pulling down
As the automotive industry shifts its focus from hardware to software, South Korean companies are accelerating their drive towards Software-defined Vehicles (SDVs). SDVs are cars controlled and managed by software. Domestic car and parts manufacturers are actively developing solutions and preparing
As the shareholder meeting season approaches in March next year, activist funds are gearing up for more assertive actions. Some stocks targeted by activist funds are experiencing price fluctuations in anticipation of the resolution of undervaluation. The securities industry is anticipating that shar
Kia announced it will procure 250 Gigawatt-hours (GWh) of renewable energy from solar power generation.On Dec. 13, Kia signed a Solar Power Purchase Agreement (PPA) with Hyundai Construction at its headquarters in the Yangjae neighborhood of Seoul. The signing ceremony saw the attendance of signific
HD Hyundai Vice Chairman Chung Ki-sun met with the Saudi Arabian Minister of Industry and Mineral Resources to discuss strengthening business cooperation with Saudi Arabia.On Dec. 13, Vice Chairman Chung met with H.E. Bandar Ibrahim Alkhorayef, Saudi Minister of Industry and Mineral Resources, and H
Offshore plants, the main cause of the shipbuilding industry’s prolonged recession, are making a comeback. Demand for offshore plants is changing from oil to eco-friendly energy such as offshore wind power and liquefied natural gas (LNG). It is expected to become a new growth driver for Korean shipb