South Korean auto giant Hyundai Motor Group has teamed up with Aptiv, formerly known as Delphi, for a $4 billion joint venture to develop autonomous technology, the companies said Monday. The joint venture between the world’s fifth-largest carmaker and the world’s leading software developer of autonomous vehicles is a “rare case,” Hyundai said, adding that the two will have 50 percent of shares each. Under the deal, the Seoul-based carmaker expects to make a bold move in

Mobility Sept. 23, 2019

Hanwha Group replaced the heads of its seven subsidiaries on Monday with younger chiefs, signaling a generational shift in the energy-to-chemical empire with 65 trillion won ($54.4 billion) in assets.Introducing the seven new CEOs as leaders for the group’s future growth -- whose expertise and performance are proven -- the nation’s eighth-largest conglomerate said the decision was made to better deal with growing external uncertainties.Kim Youn-chul, who simultaneously led Hanwha&rsq

Industry Sept. 23, 2019

The Korea Herald is publishing a series of articles on South Korea’s latest measures to support the hydrogen economy, a market drive for hydrogen-powered vehicles and the hurdles that stand in the way. This is the eighth installment. -- Ed.YONGIN, Gyeonggi Province -- At first sight, the DS30, a hydrogen-powered drone developed by Doosan Mobility Innovation, a subsidiary of South Korean conglomerate Doosan Group, resembles a giant spider with eight long legs. The 2.6-meter-long and 80-cent

Mobility Sept. 23, 2019

Hyundai Motor America said Friday that it would donate $16 million this year to fund 76 research projects on children’s cancers.Of that amount, $13.2 million will be donated this month to support a pediatric cancer awareness campaign in the US, said Jose Munoz, CEO of Hyundai Motor’s North America regional office.  As part of its community outreach efforts, Hyundai and its dealerships have participated in the Hyundai Hope on Wheels fundraising project since 1998 to fight pediatr

Mobility Sept. 20, 2019

Introducing SK Group as a committed business in US, the group’s chief Chairman Chey Tae-won said the South Korean conglomerate would invest $10 billion in next three years in new growth engines.Chey accompanied by CEOs of SK’s subsidiaries, hosted an evening event in Washington on Thursday to present the future vision of the group and its investment plan in US, officials said.  Held in its office there, SK Night attendees included Karen Kelly, deputy secretary of Department of C

Mobility Sept. 20, 2019

The head of South Korea’s largest organization representing small and large businesses alike on Wednesday expressed concern that a nationwide drive to overcome economic risk by nurturing new industries and promoting deregulation has been losing its steam despite growing negative signs pointing to a possible economic recession.“Even though we are standing at a time when we have to do our best to overcome downside risks, it is regrettable to say that discussion on economic issues itsel

Industry Sept. 18, 2019

Hyundai Motor Group said Wednesday that it plans to install newly developed center-side air bags in its vehicles, without specifying the time frame or any model names.The group has two auto subsidiaries -- Hyundai Motor and Kia Motors.The center-side air bags, developed by in-house engineers, are intended to reduce injuries to drivers and front-seat passengers. This air bag prevents drivers and passengers from colliding during a crash and also protects a lone driver from the impact of glass frag

Mobility Sept. 18, 2019

South Korea’s Mirae Asset Daewoo appeared on the Dow Jones Sustainability World Index last week for the eighth consecutive year in recognition of its sustainable management efforts, the company said Tuesday.  “We feel honored for obtaining recognition from a globally reputable institution over Mirae Asset’s sustainable management related activities such as social contribution, (improvement) in corporate governance, human rights, the environment and responsible investment,&

Market Sept. 18, 2019

The nation’s antitrust watchdog has been zeroing in on whether it is legal for air carriers’ frequent flyer programs to allow mileage to expire within 10 years. According to lawmakers on Monday, Fair Trade Commission Chairperson Joh Sung-wook told lawmakers last week that the antitrust regulator is reviewing the legality of airline companies’ mileage policies revised in 2008. “In addition to conducting a review on whether the policies have been unfair, we will come up wit

Industry Sept. 16, 2019

Fiat Chrysler Automobiles Korea, a local importer and distributor of the Italian-American auto brands, held a two-day event in Pyeongchang, Gangwon Province, offering a unique off-road experience with its signature Jeep.Held Sept. 7-8 at the famous ski resort Phoenix Pyeongchang, the 65-year-old festivities embodied the US brand’s adventurous spirit, the company said. This was the 14th consecutive year in which Fiat Chrysler held a Jeep Camp in South Korea, and it invited 300 teams with 1,

Mobility Sept. 16, 2019

The first hydrogen-refilling station in the world to be built in a national legislature opened in Seoul on Tuesday, marking a step forward in the nation’s vision of creating a hydrogen economy.It is the first commercial hydrogen facility built in central Seoul, as well as the first case of the regulatory sandbox that lifted administrative hurdles to promote the use of hydrogen as traffic fuel, Hyundai Motor said in a statement.The H2 station was built by the South Korean carmaker, dubbed a

Mobility Sept. 10, 2019

For the past 15 years, the Busan-Jinhae Free Economic Zone in South Gyeongsang Province has succeeded in developing infrastructure and creating a suitable business environment for investors. And now is the time to seek a paradigm shift by nurturing innovative technologies and easing regulations for the growth of new industries, its new chief said. In an interview with The Korea Herald, BJFEZ Commissioner Ha Sung-cheol said he seeks to attract companies specialized in manufacturing high value-add

Industry Sept. 9, 2019

Unionized workers at GM Korea said Friday they have decided to stage a full-time walkout for three days next week in protest against the rejection of their demands during wage negotiations with the management.This is the first time GM Korea workers will stage all-out protests, after the US carmaker acquired now-defunct Daewoo Motor in 2002.The union said it has 8,000 members from GM Korea and also 2,000 workers at GM Technical Center Korea. GM Korea currently has around 13,000 employees. Leaders

Mobility Sept. 6, 2019

Coupang, a leading e-commerce platform, said Friday it has launched a special sales event for a massive number of bedding items for the fall and winter seasons.Its online bedding store offers 1.2 million bedding products in 12 categories -- blankets, beddings, indoor bed tents, electric blankets and carpets.The main page of the category displays a fully furnished bedroom decorated with products so that customers can easily pick products of their choice.  “Coupang newly introduced the

Mobility Sept. 6, 2019

SsangYong Motor’s Korando has received the top safety rating from the European New Car Assessment Program, the company said Friday.The sport utility vehicle garnered five stars in all four categories, proving it has an excellent drive assist program and can protect passengers and pedestrians effectively, it added. “By securing various safety features such as Deep Control system, state-of-the-art vehicle control technology and the (greatest) number of air bags (in South Korea), Korand

Mobility Sept. 6, 2019