South Korea’s top automaker Hyundai Motor on Thursday released the trailer of its upcoming documentary featuring K-pop supergroup BTS, to promote the value of hydrogen as sustainable fuel. The teaser was uploaded on the company’s global YouTube and Instagram pages, while the main documentary, titled “For Tomorrow We Won’t Wait,” is set to be fully unveiled at noon, Korean time, on June 5. The day marks World Environment Day, as designated by the United Nations G

Industry June 3, 2021

For South Korea’s second-largest carmaker Kia, its sister brand Hyundai Motor is both the closest partner and biggest rival in the fast expanding battery electric vehicle market. Set to deliver the EV6 in the later half of the year, Kia has chosen to emphasize the extensive driving range and harmonious design proportion -- vying with Hyundai Motor’s Ioniq 5, which is noted for its spacious interior and futuristic design. Earlier this week, the carmaker unveiled the EV6 to the medi

Industry June 3, 2021

As the COVID-19 vaccination campaign gathers speed in South Korea, branded Tylenol is running short as people rushed to secure the painkiller to prepare for potential side effects of the jabs, industry data showed Wednesday. Worried about a serious supply shortage similar to those of masks and hand sanitizers in the early stage of the pandemic, experts set out to encourage people to go for alternative medicines with the same key ingredient and function. The top three convenience store chain

Industry June 2, 2021

Hyundai Glovis, the logistics arm of Hyundai Motor Group, said Wednesday that it has established the world’s first marine shipping system optimized for electric vehicles, in step with the swiftly expanding eco-friendly car market. The company has recently renewed its manual for EV ocean transportation and applied it to the loading, shipping and unloading procedures. Due to the battery cell installed at the bottom layer of the vehicle, EVs require additional care than conventional int

Industry June 2, 2021

The family of the late KCC Chairman Chung Sang-young has donated over 200 billion won ($180.70 million) worth of stocks, goods and cash to support education and the arts, KCC officials said Tuesday. “The late Chung had always underlined that one of the core functions of a company is to contribute to the nation’s development, and it is in accordance to his wishes that we are returning these profits to society,” the company quoted the family as saying. Of the total, 10 billi

Industry June 1, 2021

Fueled by the recovery of global trade volume and increasing demand for advanced eco-friendly vessels, South Korea’s main shipbuilders have seen business boom recently, with benefits spilling over to related sectors such as steel. But Samsung Heavy Industries, the shipbuilder under the nation’s top conglomerate, Samsung Group, continues to reel under troubled finances and weak recovery scenarios. Some critical hits to the company’s accounting books, according to market ob

Industry May 31, 2021

GM Korea, the local subsidiary of the Detroit-based carmaker General Motors, will be resuming operations of its key manufacturing plants here, months after a global semiconductor shortage sent them reeling and halted production. The company will return to its regular operation and production level starting next week, as part of its US headquarters’ decision to normalize global productivity, officials said Friday. “But as the semiconductor shortage prolongs, we will need to assum

Industry May 28, 2021

Kia, the carmaker affiliated with Hyundai Motor Group, will run a pilot “pick up and charge” program for the convenience of electric vehicle users, officials said Thursday. “We have come up with an on-demand pick up and charge system in order to reduce any inconvenience that all-electric vehicle drivers may face in everyday life,” the company said in a release. To go with the service, which will be available 24 hours a day in most parts of the country, the company has

Industry May 27, 2021

South Korea’s top shipping company HMM -- formerly Hyundai Merchant Marine -- has vowed to halve carbon emissions by 2030, as part of its blueprint to attain carbon neutrality by 2050. The announcement came during a preliminary session of the 2021 P4G, Partnering for Green Growth and the Global Goals 2030, an event held Wednesday at Seoul’s Dongdaemun Design Plaza, officials said Thursday in a release. “HMM saw its carbon emission volume reduced by 40 percent from 2008 to 20

Industry May 27, 2021

South Korea’s major businesses saw their total number of staffers shrink by nearly 10,000 since the onset of the COVID-19 pandemic as conglomerates reduced new recruits and distributers carried out restructuring, industry data showed Wednesday. Meanwhile, the number of irregular workers in the country soared by almost 2,000 during the same period, reflecting the overall deterioration in the quality of jobs. According to a survey conducted by corporate tracker CEO Score of 309 of the n

Industry May 26, 2021

As the battery electric vehicle market remains strong, South Korea’s battery makers are aggressively adding momentum to their global investments and are seeking production capacities in the US and EU markets, data showed Wednesday. According to energy market researcher SNE Research, global demand for battery electric vehicles is expected to reach 51.8 million by 2030, up 17 times from the end of 2020. The corresponding demand for batteries will likely expand some 23 times during the

Industry May 26, 2021

For many drivers who aspire to move to eco-friendly battery electric vehicles this year, one of the key variables is the availability of government subsidies. Amounts vary depending on the market price of the car. When it comes to high-end demand, however, subsidies apparently made no difference as luxury BEVs aggressively expanded their presence, especially against global market champion Tesla, industry data showed this week. According to data compiled by the Carisyou Data Lab on vehicle regi

Industry May 25, 2021

SK Engineering & Construction, the building arm of South Korea’s third-largest conglomerate SK Group, has officially changed its corporate name to “SK Ecoplant” as part of the group’s effort to enhance ESG management. The company on Monday released its new corporate identity and future vision on the company‘s intranet under the title “Deep Change Story.” The new corporate name was approved at the extraordinary general shareholders’ meeting

Industry May 24, 2021

South Korea’s shipbuilder Daewoo Shipbuilding & Marine Engineering said Friday that it will localize a core technology to propel ships, in order to advance its competitiveness, especially regarding high value-added vessels. DSME has signed a memorandum of understanding with Hyosung Heavy Industries, the industrial motor manufacturer under Hyosung Group, to jointly develop a shaft generator motor using permanent magnet, according to officials. A shaft generator motor is a technolog

Industry May 21, 2021

Hyundai Motor and Kia, which together form the world’s fifth-largest carmaker in sales, saw their sales in Europe more than quadruple from a year earlier, reflecting a bounce back from the low-base effect from the COVID-19 pandemic, data showed Thursday. The two automobile affiliates of South Korea’s second-largest conglomerate Hyundai Motor Group, sold a combined 78,495 units in the European market in April, up 317.3 percent from the same period last year, officials said, citing

Industry May 20, 2021