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
Hyundai, Honda, Volkswagen and other foreign automakers in the United States have been accused of sabotaging the establishment of labor unions.Workers at Honda’s Indiana plant, Hyundai’s Alabama plant and Volkswagen’s Tennessee plant have filed complaints with the National Labor Relations Board (NLR
The South Korean massage chair brand Bodyfriend is set to undergo an inspection by the Ministry of Employment and Labor for potential violations of labor laws.According to industry sources, the Ministry has decided to investigate Bodyfriend for possible violations of labor laws through labor inspect
HD Hyundai Heavy Industries (HHI) is considering importing blocks for merchant ships from China for the first time since its establishment. Until now, all of the blocks for merchant ships have been manufactured by HD HHI’s Korean partners and delivered to HD HHI.According to industry sources on Dec.
Hyundai Motor will shut down its local plant, which once drove the automaker’s strong sales in Russia, by the end of this year. Some local reports say that the Korean carmaker will sell the plant to a local company in Russia in the aftermath of the Russian-Ukrainian war.Hyundai Motor plans to close
The new regional head of the Hyundai Motor’s labor union, the largest single union in the country, has pledged to introduce a “4-day workweek” starting next year. This commitment has reignited the debate over reduced working hours, often described as a “hot potato” in the industry.On Dec. 6, Hyundai
In November, Lexus sold 1183 units, a 42.4 percent surge from the same month of 2022 in Korea.Mercedes-Benz topped import sales last month. Volvo and Lexus were also strong. By vehicle type, sales of internal combustion engine cars declined, while sales of eco-friendly cars such as hybrids and elect
Hyundai Mobis (KRX 012330) announced on 5th that Hyundai Mobis has established the 'Electrification Research Center' within the Hyundai Motor Group's Uiwang R&D Center in Uiwang, Gyeonggi Province and held an inauguration ceremony. At the ceremony, the newly appointed President of Hyundai Mobis, Lee
General Motors (GM) has asked LG Energy Solution to give the U.S. automaker up to 85 percent of the advanced manufacturing production credits (AMPCs) which the Korean automaker will receive through their U.S. battery joint venture, according to industry sources on Nov. 30. This is much more than GM’
Hyundai Motor Group, which controls both Hyundai Motor and Kia Corp., ranked seventh globally, posting sales of 378,462 electric vehicles (EVs), battery electric vehicles (BEVs), plug-in hybrids (PHEVs) and hydrogen fuel cell cars sold worldwide from January to September this year. Including sales o
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
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
The Korean government has withdrawn its controversial proposal to revise working hours to a maximum of 69 hours a week and will maintain the current 52-hour workweek while providing improvement measures for some industries and occupations.The Ministry of Employment and Labor announced the results of
Hyundai Motor Group came in second after Tesla in the first three quarters of this year as the number of electric vehicle (EV) registrations in the United States surged despite concerns over slowing demand for EVs.According to a report by Automotive News Nov. 12, a U.S. automotive publication, the n
LG Energy Solution has withdrawn its plans to build a joint venture battery plant in Turkiye with U.S.-based Ford and Turkiye-based Koc Group. Instead, the company will produce battery cells at an existing idle facility and supply them to Ford.LG Energy Solution announced on Nov. 11 that it is withd
According to SNE Research, an energy market research company, on Nov. 8, the number of electric vehicles registered worldwide from January to September reached 9.66 million units, a 36.4% increase compared to the same period last year.BYD, a Chinese company, maintained its top position with a 71.7%
The growth of electric vehicles (EVs) changing the paradigm of the global automobile market has come to an abrupt halt. As a result, carmakers are showing mixed moves.General Motors (GM), Ford and Volkswagen, as well as the world’s No. 1 EV maker Tesla, have postponed or canceled their investment pl
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.With the US unemployment rate rising for a second straight month, we are nearing the threshold for the Sahm Rule recession indicator (which has a 100% historical accuracy rate). Given the effects of
The number of new imported vehicle registrations, mainly new imported electric vehicle (EV) registrations, slid, but only that of new imported hybrid vehicle registrations rose in Korea in October.The Korea Automobile Importers & Distributors Association (KAIDA) said on Nov. 3 that the number of new
LG Electronics is strategically aligning its electric vehicle (EV) components business, a sector it is nurturing as a future growth engine, with a focus on premium car manufacturers like Mercedes-Benz, BMW, Audi, and more, propelling the business in a promising trajectory.According to the Financial