EV Parking Service (EVPS) announced on Oct. 5 that they have recently signed a letter of intent with the Cabazon Band of Cahuilla Indians Government in the U.S. and plan to break ground on two electric vehicle charging station assembly factories with a combined annual production capacity of 200,000
LG Energy Solution has secured a long-term agreement with Toyota, the world’s largest automaker, ensuring that it will now supply electric vehicle (EV) batteries to all of the top five global automakers, namely Toyota, Volkswagen, Renault-Nissan, Hyundai, and GM.On Oct. 5, LG Energy Solution announc
One in four foreign workers received unemployment benefits that amounted to more than they earned before they lost their jobs in Korea.Out of 12,100 foreign unemployment benefit recipients last year, 3,200 (26.4 percent) took home more than their previous wages, according to the government’s data su
As the global energy market is rapidly changing, South Korea, the world’s third-largest importer of liquefied natural gas (LNG) after Japan and China, is also closely monitoring the situation.According to the Korea Customs Service on Sept. 3, South Korea’s cumulative LNG import volume and import val
Speculation is mounting that Hyundai Motor may follow the footsteps of Nissan, Renault, and Mazda, which withdrew from Russia under a “1 euro sale contract” that included a repurchase condition (buyback clause). Following the end of the war in Ukraine, the Russian government has suggested a buyback
Concerns are growing among domestic businesses as former U.S. President Donald Trump has pledged to nullify President Joe Biden’s electric vehicle transition policy if elected in the 2024 presidential election.Former U.S. President Donald Trump recently criticized President Biden’s electric vehicle
According to the European Automobile Manufacturers’ Association (ACEA) on Sept. 20, Hyundai and Kia reported sales in the European car market this past August, showing an increase of 5.6% year-on-year, amounting to 76,631 units. Hyundai sold 39,527 units, an increase of 2.9%, while Kia witnessed an
As robot adoption accelerates, leading domestic robotics firms including HD Hyundai Robotics, Doosan Robotics, and Hanwha Robotics are shifting focus from stationary collaborative robots (cobots) to mobile robots that move autonomously, heating up the undercurrent of competition.According to industr
Global automakers are fiercely competing to develop platforms that serve as the skeleton for electric vehicles (EVs). Platform technology, alongside securing batteries, is seen as a key competitive edge in leading the era of EVs.According to industry sources on Sept. 19, Volkswagen Group is in the p
The Hyundai Motor Labor Union announced on Sept. 18 that it held a vote for and against this year’s wage and collective bargaining agreement for all 44,643 members. In the vote, 22,703, or 58.81 percent, of the 38,603 voters voted in favor of accepting the agreement.This year’s agreement includes a
The Kia Labor Union has pulled out the overtime refusal card. The move comes as negotiations over this year’s wages and collective agreements with the company have hit a snag.According to industry sources on Sept. 18, the Kia Union has decided to halt overtime production negotiations at three main f
South Korea has taken the first step toward injecting US$2.3 billion into Ukraine’s reconstruction.The Ministry of Land, Infrastructure and Transport (MOLIT) of South Korea organized the first public-private Ukraine Reconstruction Cooperation Delegation and sent the delegation to Ukraine’s capital c
After the intense 23rd round of wage and collective bargaining negotiations on Sept. 12, Hyundai Motor and its union reached a preliminary agreement. The union had initially demanded an 184,900 won wage increase (excluding rank promotions). In response, the company offered a 101,000 won increase on
Six out of 10 Koreans have a favorable view of large corporations, according to a survey. The number one expected role of large companies is to create jobs among those surveyed.According to the results of a survey of 1,005 people aged 18 and over on the perception of large companies’ contributions t
Tensions are escalating in the battery market as Chinese companies consistently establish factories in the U.S., leading to some speculating that the Biden administration’s electric vehicle policy has shifted from a “complete exclusion” of China to a “partial allowance.”According to foreign media an
HD Hyundai Heavy Industries, Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering), and Samsung Heavy Industries, the top three in the domestic shipbuilding industry, have finalized this year’s wage and collective bargaining agreements in a timely manner. With an enhanced production capac
Korea’s current account posted a surplus for the third consecutive month in July, but it was a recessionary surplus as imports fell more than exports. In particular, a surge in overseas travel led to a larger deficit in the travel account, making the size of the service account deficit 36 times larg
Hyundai Motor’s labor union announced a four-hour partial strike for two days starting Sept. 13 after hitting a snag in their wage and collective bargaining negotiations with the management. If the labor union goes on strike, it will mark the first strike in five years since 2018.According to source
For the first time in its 55-year history, POSCO, which has maintained a “no-strike” record, is now on the brink of a labor strike. Following a breakdown in wage and collective agreement negotiations with the company, the union has been conducting a strategic committee launch ceremony for two consec
According to industry sources on Sept. 7, wage negotiations between Samsung Electronics and its union have been on hold since April 21, prolonging the cooling-off period.Other electronics affiliates within the group, such as Samsung Display and Samsung Electro-Mechanics, concluded their wage negotia