Ahead of the Defense Acquisition Program Administration (DAPA)’s deliberations on slapping bidding restrictions on HD Hyundai Heavy Industries, Representative Seo Il-joon called for strict deliberations, saying, “The deliberations should be used as an opportunity to lay a foundation for the Korean d
HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai, has won two orders for very large ammonia carriers (VLACs).HD KSOE said in a public disclosure on Feb. 20 that it recently signed construction contracts for two VLACs with an African-based client. The
Hyundai Engineering & Construction (Hyundai E&C) has become highly likely to win a project to build Kozloduy Nuclear Power Plant in Bulgaria with a total budget of nearly 19 trillion won, foreign media outlets reported.The Kozloduy Nuclear Power Plant Committee reviewed five proposals and concluded
Hyundai Motor Group which runs Hyundai Motor, Kia Corp. and Genesis sold a total of 7.34 million vehicles globally in 2023, ranking third in sales, according sources in the automobile industry. This marked the second consecutive year that the group has ranked among the big three.Toyota Group, with b
Hyundai Motor Company is recalling about 90,000 Genesis vehicles in the United States due to the risk of engine fire.Hyundai Motor America is recalling a total of 90,907 vehicles, including the 2015-2016 Genesis, the 2017-2019 Genesis G80-G90, and some 2019 Genesis G70 cars, according to the Nationa
Despite the current economic downturn, South Korea’s top three battery manufacturers are ramping up their investments in infrastructure this year to strengthen their business foundations. According to industry sources on Feb. 18, LG Energy Solution plans to invest approximately 10.9 trillion won in
Global sales of hydrogen vehicles fell more than 30 percent in 2023 from the previous year. The decline was largely due to a slump in sales of Hyundai Motor which ranked first in the global hydrogen vehicle sales standings and held the majority of the global hydrogen vehicle market share.The total n
Korean forklifts set a new export record last year, benefiting from the increased demand for factory expansions in North America due to supply chain restructuring.According to the Customs Service’s export and import trade statistics on Feb. 14, Korea exported forklifts (forklift trucks and industria
Hanon Systems (018880) announced on Feb. 14 that its preliminary consolidated financial results for last year showed an operating profit of 277.2 billion won (US$207.9 million), up 8.1% from the previous year. Sales revenue increased by 10.8% to 9.5593 trillion won and net income rose by 120.2% to 5
HD Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding holding company of HD Hyundai, recently announced that it has signed a memorandum of understanding with Woodside Energy, Australia’s largest energy company; Hyundai Glovis; and Mitsui O.S.K. Lines (MOL), a Japanese global shipping c
Global electric vehicle registrations, excluding those in China, crossed 5.5 million units in 2023, marking a growth rate of 30 percent. Hyundai and Kia also fared well, ranking fourth in global deliveries.About 5,648,000 electric vehicles were registered globally in 2023, excluding those China, up
News about BYD’s entry into South Korea has drawn attention to changes in the share of the South Korean electric vehicle market dominated by Hyundai Motor. BYD is a Chinese electric vehicle maker. Experts predict that BYD’s price competitiveness will play a big role in determining its success in the
Korean shipbuilders lagged behind Chinese shipbuilders to take second place in global ship orders in January.Global ship orders totaled 2.57 million CGT (96 ships) in January, down 26 percent year on year, according to Clarkson Research, a U.K.-based shipbuilding and shipping market research firm. O
Hyundai Motor and Kia Corp. are looking to ramp up their market shares by introducing more than five new electric vehicle models this year. The electric vehicle market, which grew rapidly, has slowed down somewhat, but the two automakers are expediting their electrification transition with the new m
According to industry sources on Feb. 12, Hanwha Impact, an affiliate of Hanwha Group, recently received final approval for a merger related to the acquisition of HSD Engine from the Korea Fair Trade Commission. This came one year after the company signed a memorandum of understanding for a stock pu
Korea’s four major oil refiners are posting a gradual drop in their exports to China. They are diversifying their export destinations to Australia, Japan, and other countries to fill the void. China used to be Korea’s top petroleum product export market.According to the Korea National Petroleum Asso
It has been revealed that the dividend payouts of major domestic companies increased by nearly 10 percent last year. Particularly noteworthy is the recent announcement by the government regarding the introduction of the “Corporate Value-Up Program” aimed at addressing the “Korea Discount,” which ref
Following the announcement of the government’s introduction of a program to enhance corporate value, stocks with a low price-to-book ratio (PBR) showed strength. Over the past two weeks, foreign investors’ net purchases on the KOSPI surpassed 5 trillion won. While low PBR stocks surged due to foreig
The Ministry of Land, Infrastructure, and Transport (MOLIT) announced that a voluntary recall will start for about 40,000 vehicles from Hyundai Motor Company, Mercedes-Benz Korea, BMW Korea, Honda Korea, and Man Truck Bus Korea for manufacturing defects.According to MOLIT on Feb. 8, 18,664 Hyundai K
President Yoon Suk-yeol reiterated the importance of adopting a global standard to address the “Korea Discount,” which indicates the undervaluation of the domestic stock market, during his televised speech on Feb. 7. This has sparked increased interest in low price-to-book ratio (PBR) stocks among i