Hyundai Motor hits 100m vehicle milestone

Hyundai Motor Company marked the global cumulative production of 100 million cars Monday, a landmark record coming 57 years since the carmaker’s foundation. The company held a celebratory event at the car manufacturing plant in Ulsan earlier in the day, joined by Lee Dong-suk, head of domestic sales and chief strategic officer at Hyundai Motor Group, and Moon Yong-moon, head of the company’s labor union. The executives and staff marked the production of the first car after passing th

Sept. 30, 2024

[Herald Interview] Korea, Chile eye two-way benefits in green energy

With a renewed push toward a leading green energy supplier with its vast energy resources, Chilean government officials urged South Korea, which shares similar goals in reducing dependence on fossil fuels, to expand investments to Chile and boost strategic partnerships. “The challenge today for Chile is to increase the participation of Korean companies in the Chilean economy and the flows of Korean capital into Chile,” Chilean Ambassador Mathias Francke told The Korea Herald at the E

Sept. 29, 2024

AmCham reaffirms Korea-US partnership in Washington

The American Chamber of Commerce in Korea said Friday it has completed the five-day business trip to Washington DC held earlier this month, reasserting Korea-US economic partnership. The AmCham delegation comprising senior executives from key member companies, such as LG Energy Solution and Posco Holdings, met with US senators and representatives from 12 states and 10 US government organizations including the White House National Economic Council (NEC) and the Office of the Vice President. Throu

Sept. 27, 2024

Hyundai Motor, EcoPro BM to develop LFP battery tech

Hyundai Motor Group said that it is partnering with battery materials company EcoPro BM on Thursday to develop its own lithium iron phosphate, or LFP, batteries for electric vehicles. Executives from Hyundai Motor Group, EcoPro BM and Hyundai Steel -- the carmaker’s steel manufacturing affiliate -- met Wednesday in Daejeon to discuss details on the joint research and future cooperation. With the strategic partnership, which is part of the four-year project supported by the Ministry of Trad

Sept. 26, 2024

Hyundai Glovis, China’s BYD join forces on logistics

Hyundai Glovis, Hyundai Motor Group’s logistics and distribution subsidiary, said Wednesday it had partnered up with China’s BYD, the world’s biggest electric vehicle maker, on automotive transport across the ocean. Kim Tae-woo, managing director of the shipping division at Hyundai Glovis, and Wang Junbao, general director of the corporate division at BYD, participated in a signing ceremony for a memorandum of understanding on Monday at BYD headquarters in Shenzhen, China. Base

Sept. 25, 2024

Kia to debut PV5 electric van in Japan in 2026

Hyundai Motor Company’s smaller sibling Kia is poised to enter Japan’s purpose-built vehicle market, a tricky segment already crowded with Japanese rivals. Kia said Tuesday it joined hands with Japan-based trading company Sojitz to launch its PV5 van, the carmaker's first PBV model built on an electric vehicle platform, in Japan in 2026. The car's Japanese debut hopes to benefit from the country’s net-zero goals. Currently, Japan offers hefty incentives to EV buyers

Sept. 24, 2024