Hyundai Motor plays down missed IRA incentives for Georgia plant

Hyundai Motor has missed out on the United States tax incentives for its new $7.6-billion manufacturing plant -- Hyundai Motor Group Metaplant America -- in Bryan County, Georgia, but said the credit did not affect its investment in the plant. According to industry sources Monday, Hyundai Motor did not make the list of companies that will receive tax incentives in the second round allocations of the Qualifying Advanced Energy Project Credit, or 48C, which is an allocated tax credit funded by Pre

Nov. 11, 2024

Korean shipbuilders upbeat on Trump’s call for collaboration

Korean shipbuilders are raising hopes to expand their presence in the US, following President-elect Donald Trump’s call for more bilateral cooperation in the shipbuilding sector. According to Seoul’s presidential office, President Yoon Suk Yeol and Trump had a 12-minute phone call Thursday morning after Trump won a second nonconsecutive presidential term. After exchanges of congratulations and gratitude, Trump specifically mentioned Korea’s shipbuilding capabilities and the US&

Nov. 10, 2024

Korean auto, battery firms buckle up for second Trump term

Korean automakers and battery-makers now face the daunting task of coping with a second Donald Trump administration, as they try to prepare various measures to weather the storm of uncertainties expected from the next president of the United States. Throughout his election campaign, Trump has openly criticized the Joe Biden administration’s Inflation Reduction Act and its Advanced Manufacturing Production Credit that have given financial benefits to Korean companies in the electric vehicle

Nov. 7, 2024

Kumyang works to win back investor trust

South Korean battery-maker Kumyang unveiled the world’s first 4695 cylindrical battery cell, which the company claimed to have greater capacity than Tesla's 4680 battery, at InterBattery 2024 at Coex in Seoul in March this year. Oxford Metrica, a UK-based global advisory firm, recently analyzed that 600 Kumyang 4695 cells can generate 75 kilowatt-hours of energy to offer about 600 kilometers in driving distance, whereas the same number of Tesla 4680 cells would create about 52 kWh to

Nov. 6, 2024

Renault Korea CEO awarded Industrial Service Medal

Renault Korea CEO Stephane Deblaise has been awarded the Industrial Service Medal from the Korean government in recognition of his leadership in successfully launching the Grand Koleos, the French automaker's new sports utility vehicle codenamed Aurora 1. According to Renault Korea on Wednesday, Deblaise was selected as the recipient of the national award during the 2024 Foreign Company Day hosted by the Ministry of Trade, Industry and Energy at the Grand InterContinental Seoul Parnas the p

Nov. 6, 2024

Kia Sportage returns stronger

Kia unveiled the new Sportage, the automaker’s best-selling sport utility vehicle, in Seoul on Monday, highlighting the enhanced product’s all-around upgrade, which it expects to continue accounting for a major part of the automaker’s market presence. “The new Sportage, which we are presenting today with pride, contains innovative changes that are on par with a full model change,” said Jeong Woo-jeong, head of Kia’s domestic business division, in a media prese

Nov. 5, 2024

[팟캐스트] (633) 바뀌는 외환거래법이 가상자산에 미치는 영향은?

진행자: 간형우, Chelsea Proctor Korea to regulate cross-border trading of crypto 기사 요약: 정부, 가상자산 악용 사례 막기 위해 관련 외국환거래법 개정안 내년 하반기 시행 추진 [1] The Korean government is to tighten the monitoring of cross-border trading of virtual assets, including cryptocurrency, through a revised law set for enactment by the latter half of 2025. tighten: 더 엄격하게 하다 revise: 변경하다 enactment: 입법 latter: 후자의, 후반의 [2] According to the ministry, as the cross-border trading of virtual assets increases, illegal transactions, inc

Nov. 4, 2024

Korean battery makers brace for impact of US election

With the US presidential election just around the corner, Korean battery companies are bracing for change as the result could have significant effects on the industry, particularly if Republican candidate Donald Trump wins. Korea’s leading battery producers -- LG Energy Solution, Samsung SDI and SK On -- have depended on the Advanced Manufacturing Production Credit under the Biden administration’s Inflation Reduction Act for operating profits. According to the quarterly earnings repo

Nov. 3, 2024

[팟캐스트] (632) 축구 팬들에게 잊지 못할 경험 안겨준 넥슨

진행자: 간형우, Chelsea Proctor Soccer legends impress fans at 2024 Nexon Icons Match 기사 요약: 400만 명 이상이 온라인과 현장에서 지켜본 넥슨의 ‘아이콘 매치’ [1] More than 4 million fans gathered to watch a match featuring legendary soccer players hosted by Nexon, the game developer that published the FIFA Online series, the firm said Friday. gather: 모이다 legendary: 전설적인 [2] For the Nexon Icons Match event, held at Seoul World Cup Stadium from Oct. 19-20, players were split into two teams -- former forwards played

Oct. 31, 2024

Nexon expands game pipeline to target global market

Nexon has laid out a future roadmap to strengthen its existing gaming intellectual properties and develop new IPs to target the global market. “In this way, we will further advance Nexon's strong capabilities based on our experience and focus on providing innovative gaming services to users,” said Kang Dae-hyun, co-CEO of Nexon Korea, in a press conference at the company’s headquarters in Pangyo, Gyeonggi Province, on Wednesday. Nexon Korea is wholly owned by Tokyo-listed

Oct. 30, 2024