South Korean shipyards are continuously winning contracts for very large crude carriers (VLCCs). Recently, Hanwha Ocean and HD Korea Shipbuilding & Offshore Engineering (HKSOE) have pursued high-value contracts for VLCCs as part of their strategy to diversify their vessel portfolios and prioritize s
Hyundai Mobis has reportedly surpassed the production record of 51 trillion won last year. This achievement is attributed to the increased orders for global completed cars, including those from Hyundai Motor and Kia Motors.According to the business report disclosed by Hyundai Mobis on March 12, the
Hyundai Motor Group will launch a large-scale electric vehicle recall. It is the largest voluntary recall in three years since the automaker entered the market with an electric vehicle-only platform (E-GMP) in 2021. Hyundai and Kia will replace faulty integrated charging control units (ICCUs) in som
Hyundai Motor Group has completed the development of ultra-fast chargers and will begin to distribute them in earnest. The internalization of ultra-fast chargers is expected to speed up the expansion of electric vehicle infrastructure.According to sources in the automotive industry on March 11, the
Kia announced on March 10 that its flagship electric vehicle, the EV9, has been named as the 2024 U.K. Car of the Year.The U.K. Car of the Year is selected each year by a 30-member judging panel of locally based automotive journalists who vote on vehicles launched in the last 12 months. Participatin
LG Group Chairman Koo Kwang-mo was ranked 10th on the list of influential people in the global automotive industry by a leading U.S. automotive publication this year. Motor Trend, a leading U.S. automotive publication, announced its Global Automotive Industry Power List on March 5 (local time).Koo t
Hyundai E&C, along with U.S.-based Holtec International, signed a business agreement for jointly participating in the U.K. Atomic Energy Authority (UKAEA)’s SMR technology competition with U.K.-based Balfour Beatty and Mott MacDonald at the Korean Embassy in London of the United Kingdom on March 5.T
HD Hyundai Shipbuilding & Offshore Engineering (HSOE) announced on March 6 that it has founded the Nuclear Energy Maritime Organization (NEMO) with leading global nuclear energy organizations.NEMO, which has its secretariat in London of the United Kingdom, will work with the International Maritime O
The domestic defense industry has gained new momentum through the revision of the Export-Import Bank of Korea (Korea Eximbank) Act. It is expected to accelerate towards achieving the goal of US$20 billion in defense exports this year.On Feb. 29, a bill to amend the Korea Eximbank Act, which increase
Since the beginning of this year, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has achieved over 50 percent of its 2024 annual order target within just two months.HD KSOE announced on March 4 that it had signed construction contracts for two medium-sized liquefied petroleum gas (LPG) carri
Hanwha Ocean announced on March 4 that it signed a memorandum of agreement (MOA) to build 12 liquefied natural gas (LNG) carriers with a Middle Eastern shipping company.Hanwha Ocean did not disclose the client but it is believed to be Qatar Energy, the state-run energy company of Qatar.Qatar Energy
The Korean government has set a higher plant order intake target for this year than 2023 and will provide intensive support to help Korean plant builders attain the goal. This is because the global plant market is expected to grow and Korean companies’ order-taking competitiveness has been strengthe
Hanwha Ocean submitted a complaint to the National Police Agency’s National Investigation Division on March 4 to investigate alleged systematic leakage of military secrets related to the Next Generation Korean Destroyer (KDDX) Project by HD Hyundai Heavy Industries (HHI).“It is an objective fact tha
The Hyundai IONIQ 6 was ranked most fuel efficient among 2024 models selling in the U.S. market.The IONIQ 6 Long Range Rear Wheel Drive model with 18-inch wheels was honored as the most fuel-efficient vehicle with a combined fuel efficiency of 140 MPGe, according to Fuel Economy, a fuel-saving infor
The Hyundai Research Institute (HRI) has forecasted that the South Korean economy will enter a recovery phase after passing its lowest point this year.According to a report titled “Now is an Important Time to Form an Early Economic Cycle Bottom” released by the HRI on March 3, there is a high possib
Hyundai Motor India Ltd. registered total sales of 60 501 units in February 2024. HMIL achieved domestic sales of 50 201 units, achieving a 6.8% growth. HMIL also achieved export sales of 10 300 units.Commenting on the February 2024 sales numbers, Mr. Tarun Garg, COO, Hyundai Motor India Ltd. said,
Hyundai Heavy Industries Power Systems (HPS), together with HD Korea Shipbuilding & Offshore Engineering (KSOE) and CE-TEK has signed a joint development program agreement for the research and development of Onboard CCS demonstration units.The Onboard CCS demonstration unit is scheduled to undergo c
HD Hyundai Shipbuilding & Offshore Engineering, HD Hyundai Heavy Industries (HHI), Hyundai Mipo Shipbuilding, and Hyundai Samho Heavy Industries announced on Feb. 28 that they recently held a Marine Platform Technology Council meeting with Siemens Digital Industries Software at Hyundai Mipo Shipyard
HD Hyundai Heavy Industries (HHI), accused of leaking military secrets, will not receive sanctions, so it will be able to continue to bid in winning maritime defense projects. As a result, the company will be able to take part in a tender for the construction of the Korea Destroyer KDDX, which will
Hyundai Motor Company’s IONIQ 5 N is among the Top Three in the World finalists for the 2024 World Performance Car.The World Car Awards announced the Top Three in the World finalists for this year’s competition at a ceremony during the Geneva International Motor Show. The World Car Awards is an annu