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
The Korean construction industry is expected to surpass US$30 billion in overseas orders for the fourth consecutive year. However, it is still up in the air that it will be able to reach the target of US$35 billion set in the first half of this year.The amount of overseas construction orders given t
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
McKinsey & Company released an economic diagnosis report titled “Korea’s Next S-Curve” on Dec. 11. This report comes ten years after the firm’s previous report titled “Beyond Korean style: Shaping a new growth formula,” suggesting that the South Korean economy has reached its growth limits.In its re
Samjong KPMG (KPMG Korea) predicts that the semiconductor and smartphone markets will rebound in 2024 thanks to the full-scale commercialization of artificial intelligence (AI) technology. On the other hand, the automobile, shipping, construction, and distribution industries are likely to show slugg
Hyundai and Kia have developed a technology that can easily replace snow chains, which are difficult to install, to help drivers drive safely in winter.Hyundai and Kia unveiled the snow chain integrated tire technology using shape-memory alloy on Dec. 11. This technology is based on the principle th
Among the business groups subject to disclosure with assets exceeding 5 trillion won (US$3.79 billion), or large corporate groups, last year, Celltrion secured the top spot for the sixth consecutive year with the highest proportion of internal transactions. The overall internal transaction ratio of
Hyundai Engineering announced on Dec. 11 that it has signed a memorandum of understanding (MOU) with the Korea Atomic Energy Research Institute for the overseas export of the Korean-style Small Modular Reactor (SMR).The signing ceremony, held at the Korea Atomic Energy Research Institute headquarter
Activist funds pushing for better corporate governance and increased shareholder returns are expected to make many moves ahead of the annual shareholder meeting season for listed companies early next year.Major activist funds Truston Asset Management (Taekwang Industries-BYC), Align Partners Asset M
Hyundai Motor has announced to launch its entire Genesis lineup as electric vehicles from 2025. But with the number of hybrid electric vehicle registrations at a record high in Korea this year, the automaker may launch hybrid models (excluding mild hybrids) for the first time.According to the CarIsY