Renault Korea CEO Stephane Deblaise and BMW Korea CEO Han Sang-yoon won the 2024 Car Person of the Year awards from the Korea Automobile Journalists Association on Thursday. In the four award categories, Deblaise received the Industrial Innovation award, while Han was honored with the Industrial Contribution award. According to KAJA, Deblaise has played a crucial role in revitalizing the French auto giant’s Korean operations since his appointment in 2022. Deblaise, a former automotive en

Mobility Dec. 19, 2024

Lee Dong-suk, head of domestic sales and chief strategic officer at Hyundai Motor Group, has called on employees to push for record-breaking year-end production despite business disruptions, the company said Wednesday. “The most pressing issue is that (both international and domestic uncertainties) are raising concerns among global investors and customers. These factors are likely to impact us directly, leading to fears of hurting (the company’s) sales volume and a diminishing corpor

Mobility Dec. 18, 2024

BlueOval SK, a joint venture between SK On and Ford Motor Co., received approval from the US Department of Energy for a $9.63 billion loan Monday, securing funds to construct three battery manufacturing plants in the US. The loan is part of the government’s Advanced Technology Vehicles Manufacturing program, which offers low-cost loans with an interest rate equivalent to the US 10-year Treasury bond, currently around 4 percent, according to sources. The program targets companies producing

Mobility Dec. 17, 2024

With a rising number of social media impersonation scams targeting influential executives of Korea’s major companies, there are increasing calls for stronger regulations to prevent social harm. According to sources on Monday, the Seoul Metropolitan Police Agency recently launched an investigation into multiple social media accounts impersonating Sung Kim, an advisor and newly appointed president of the strategic planning division at Hyundai Motor Group. The police have identified over 14 F

Industry Dec. 16, 2024

Hyundai Motor Group’s global executives convened on Thursday to devise strategies to address potential trade disruptions arising from Korea’s martial law crisis and the upcoming inauguration of Donald Trump’s second administration. The company said its newly appointed president and CEO Jose Munoz, who doubles as the global chief operating officer, and overseas regional heads from Europe, Russia, China, India, Latin America and other regions gathered to discuss strategies for th

Mobility Dec. 13, 2024

Marking the first anniversary of Hyundai Motor Group’s innovation hub in Singapore, Executive Chair Chung Euisun reaffirmed his commitment to addressing deepening domestic and international uncertainties. Alongside Chung, key executives from Hyundai Motor, including Chang Jae-hoon, president and CEO of Hyundai Motor Co., Jung Jun-cheul, executive vice president and head of manufacturing for Hyundai Motor Group, Park Hyun-sung, CEO of Hyundai Motor Group Innovation Center in Singapore, and

Mobility Dec. 13, 2024

Hyundai Motor Group said Thursday it will expand its business collaboration with Google to upgrade its vehicles’ navigation and infotainment features. Under the partnership, Hyundai, Kia and Genesis vehicles will integrate Google Maps Platform’s Places application programming interface, or API, to improve the accuracy of navigation systems in Hyundai, Kia and Genesis vehicles. The enhanced navigation will provide detailed information such as business hours, contact details, ratings

Mobility Dec. 12, 2024

Kia’s Chinese joint venture turned a profit in the third quarter of this year, ending a seven-year run of losses thanks to a surge in sales and exports, sources said Thursday. Yueda Kia, where Kia and China’s Yueda Group hold 50 percent shares each, logged 3.2 trillion won ($2.3 billion) in sales in the July-September period, a 60.4 percent jump from the second quarter. The company achieved a profit of 17.2 billion won, a significant turnaround from the previous quarter’s 4.4 b

Mobility Dec. 12, 2024

Kia’s decision to join the Korean Metal Workers’ Union’s strike — demanding the resignation of President Yoon Suk Yeol amidst the ongoing martial law crisis — could lead to increased production disruptions for the carmaker, industry sources said Wednesday. The strike is part of the Korean Confederation of Trade Unions, the nation’s largest umbrella labor group with 1.2 million members, which has launched an indefinite strike until Yoon offers to resign, claimi

Mobility Dec. 11, 2024

Northvolt, backed by Volkswagen Group, was once hailed as Europe’s hope for an electric vehicle battery champion to challenge the creeping presence of Asian competitors. In a bid to spur growth, the Swedish battery maker hired dozens of battery researchers from Korean rivals, promising heftier salaries and a better quality of life -- until recently. After years of financial struggles, however, the company last month filed for bankruptcy protection in the US and its employees reportedly see

Mobility Dec. 2, 2024

Hyundai Motor Group is expected to ramp up sales of hybrid electric vehicles in the US, bracing for US President-elect Donald Trump’s drastic EV policy changes, sources said Friday. According to Hyundai Motor Company and Kia, the two carmakers already sold 275,103 eco-friendly vehicles in the US from January to October this year, with HEVs accounting for 63.1 percent of these sales. Compared to last year, the cumulative sales until October have surged by 11.3 percent. Last month alone, Hyu

Mobility Nov. 29, 2024

Hanwha Ocean has forged a strategic partnership agreement with Babcock International, a London-based defense company, aiming to expand its footing in the global shipbuilding market. Hanwha Ocean CEO and President Kim Hee-cheol, Babcock International CEO David Lockwood and other executives, including UK’s Second Sea Lord Nick Hine and Mark Goldsack, managing director of business growth and AUKUS at Babcock, attended the signing ceremony Thursday at the Korean shipbuilder’s headquarter

Industry Nov. 29, 2024

Factory workers often experience physical strain and injuries as they are exposed to overhead work, heavy lifting and other repetitive tasks. For instance, a Hyundai Motor plant worker on an assembly line has to lift their arms anywhere from 3,000 to 5,000 times a day. On Wednesday, Hyundai Motor Group unveiled a new wearable robotic exoskeleton, called “X-ble Shoulder,” which promises to reduce stress on factory workers' joints by up to 60 percent. The first product released in

Mobility Nov. 28, 2024

South Korean automotive and car parts manufacturers are bracing for potential disruptions in their Mexican operations as US President-elect Donald Trump vows to enforce stricter tariffs and cut back on preferential treatment for goods produced in the region. According to industry sources on Tuesday, the Industry of Trade, Industry and Energy recently met with six companies – namely Kia, Hyundai Mobis and LG Innotek – to discuss the impact of Trump’s proposed tariffs. “Mex

Industry Nov. 26, 2024

As US President-elect Donald Trump assembles his energy team with the aim of expanding oil and gas production in his second term, there may be pressure on allies to import US oil. However, South Korean oil companies, heavily reliant on Middle Eastern suppliers, might hesitate to switch to US crude, industry sources said Monday. Over the weekend, Trump tapped Chris Wright, CEO of Liberty Energy, a natural gas fracking company, as the secretary of energy, and North Dakota Gov. Doug Burgum to head

Industry Nov. 25, 2024