Hyundai Motor Group and Toyota -- the world’s third and first top-selling auto giants, respectively -- have teamed up to advance the development of artificial intelligence and robotics. According to Hyundai-backed Boston Dynamics and Toyota Research Institute on Wednesday, the two sides decided to join forces to accelerate the development of general-purpose humanoid robots using the former’s two-legged Atlas robot and the latter’s large behavior models, or LBMs. “There ha

Mobility Oct. 18, 2024

Amazon’s decision to invest in clean energy projects to meet the increasing energy demands of artificial intelligence has raised expectations for South Korean companies in the nuclear power sector. Amazon announced Thursday that it signed three new agreements to support the development of nuclear energy projects, including the construction of several new small modular reactors, or SMRs. Amazon joined a recent series of nuclear energy pledges by big tech companies such as Google and Microso

Industry Oct. 17, 2024

Korea’s two leading auto brands -- Hyundai Motor Company and Kia -- announced Wednesday that they developed the world’s first automatic press die system for all designs. Press dies are used to form a vehicle’s body parts such as the trunk, hood and fender. Depending on the part’s design, automakers usually conduct the press dying process three to five times to manufacture a part while press die designers line up numerous requirements for the production of each part. Accor

Mobility Oct. 16, 2024

Hanwha Group, South Korea’s defense-to-energy conglomerate, is looking to expand its shipbuilding and maritime businesses in the United States as it appears to be contemplating a second American shipyard acquisition. Mike Smith, who was appointed as the CEO of Hanwha Defense USA in August, a US subsidiary of Hanwha Aerospace, said in Washington last week that Hanwha is “not done” when asked whether Hanwha’s purchase of Philly Shipyard was a one-time deal. Hanwha Group ann

Companies Oct. 15, 2024

Hanwha Aerospace is gearing up to showcase its latest land weapons systems at the US Army’s Annual Meeting & Exposition, known as AUSA, in Washington, as the Korean defense firm looks to score exports to the North American defense sector, the company said Friday. Hanwha Aerospace plans to display its wheeled self-propelled howitzer, uncrewed transport robotic vehicle and modular charge system at the upcoming arms trade show slated to take place from Monday to Wednesday. In particular,

Companies Oct. 11, 2024

Author Han Kang became the second South Korean to win a Nobel Prize on Thursday, as she was recognized with the laureate honor in literature by the Swedish Academy. Preceding Han was Kim Dae-jung, the late South Korean president who won the Nobel Peace Prize in 2000 to honor his efforts to revive democracy in South Korea and improve relations with North Korea. The Nobel Prize committee said the award motivation was “for his work for democracy and human rights in South Korea and in East Asi

Politics Oct. 10, 2024

South Korean author Han Kang has won the 2024 Nobel Prize in literature, clinching the country's first honor in one of the world's most prestigious literature awards. The Nobel committee on Thursday called “her intense poetic prose that confronts historical traumas and exposes the fragility of human life.”

Culture Oct. 10, 2024

Hanwha Group Chairman Kim Seung-youn has reiterated the company's approach to overcoming crises as a “Great Challenger,” expressing the need to take more proactive and leading measures rather than waiting for market conditions to turn favorable. “Driven by unwavering beliefs that do not compromise with the currents of the times and a relentless dedication to being the best, we will overcome the waves of crises and write a new history for Hanwha,” said Kim in a video

Companies Oct. 10, 2024

LS Group, a South Korean cable and industrial electric machinery conglomerate, is looking to achieve the vision to double its total assets value to 50 trillion won ($37 billion) by 2030 as it welcomes more opportunities for its existing businesses in the era of artificial intelligence while investing in the sectors of batteries, electric vehicles and semiconductors. Since taking the helm of the conglomerate in January 2022, LS Group Chairman Koo Ja-eun has vowed to invest 20 trillion won or more

Companies Oct. 9, 2024

Posco Future M CEO Yoo Byung-ok and US Ambassador to South Korea Philip Goldberg have discussed the importance of stabilizing supply chains as the Korean battery material and chemical producer struggles to cope with declining anode prices due to competition from China. According to Posco Future M on Tuesday, the US Ambassador visited the Korean company’s artificial graphite anode plant in Pohang, North Gyeongsang Province, the previous day. “Despite being the only alternative for sta

Companies Oct. 8, 2024

LG Energy Solution on Monday vowed to double its annual sales by 2028 based on expanding and diversifying battery businesses outside of electric vehicles while continuing to secure technological leadership in the EV battery sector. “We will not settle at producing and selling batteries anymore, but we will establish a paradigm of subscription economy for batteries based on our battery diagnosis and management technologies,” said Kim Dong-myung, CEO of LG Energy Solution, during the c

Companies Oct. 7, 2024

G-Star, Korea’s top annual gaming convention, is getting ready for its 20th edition set to open at the Busan Exhibition & Convention Center, or Bexco, on November 14. The G-Star organizing committee said this year’s event will feature 3,281 booths, slightly more than the previous year, which was the largest event in G-Star's 20-year history and drew nearly 200,000 visitors. “This year’s G-Star marks a very important moment as we welcome the convention's 20th

Industry Oct. 6, 2024

Hyundai Motor announced Friday that it has entered a multi-year, strategic partnership with Google’s autonomous driving technology subsidiary Waymo as the Korean automaker looks to bolster its newly established autonomous vehicle foundry business. According to the announcement, the two sides will work together to integrate Waymo’s sixth-generation fully autonomous technology into Hyundai’s all-electric sports utility vehicle Ioniq 5. The Ioniq 5s headed for the Waymo fleet will

Mobility Oct. 4, 2024

KG Mobility will push for advancing autonomous driving technology based on its cooperation with companies that have core technologies in the self-driving sector, the Korean automaker said Friday. The Korando E-Motion, the country’s first nighttime autonomous driving taxi developed by KG Mobility and SWM, a local autonomous driving startup, began its ride-hailing service in Gangnam-gu’s trial operation zone last month. The two companies previously signed a memorandum of understanding

Mobility Oct. 4, 2024

HD Hyundai Infracore's hydrogen engine HX12 has won the top award at a global hydrogen exhibition, H2 MEET 2024, the Korea Automobile Journalists Association announced Friday. Journalists from the KAJA's 58 press members visited H2 MEET at Kintex in Gyeonggi Province from Sept. 25 to 27, to assess the latest hydrogen technologies of the participants and graded them based on the public's feedback, market potential and innovativeness, in cooperation with the exhibition organizers. H

Technology Oct. 4, 2024