Hyundai Glovis to build massive logistics center in Busan

Automotive logistics provider Hyundai Glovis is set to build a large-scale logistics complex at Busan New Port, one of the busiest container ports globally. The facility, targeted for completion by 2027, will support South Korea’s growing trade demand, the company said. Hyundai Glovis said Wednesday it had signed a land purchase agreement for nearly 95,000 square meters -- about 13 soccer fields -- in the Ungdong Distripark Phase 2, a newly developed area within Busan New Port specifically

Nov. 13, 2024

Hyundai’s Atlas robot takes the spotlight as Tesla's Optimus stumbles

Hyundai-owned Boston Dynamics has been making headlines with the latest developments in its humanoid robot, Atlas. In recent promotional videos, the all-electric version of Atlas is shown performing complex tasks in a simulated factory environment, suggesting that the company may be closer than ever to deploying humanoid robots in industrial settings. This unveiling comes about a month after Tesla demonstrated its own humanoid robot, Optimus, at the company's "We, Robot" event, wh

Nov. 12, 2024

[From the Scene] How BMW’s growing Korea parts hub gets repairs done faster than ever

ANSEONG -- In South Korea, BMW drivers benefit from a parts delivery system that’s hard to beat. Need a part? If the order is placed in the morning, it’ll arrive at the dealership by 5 p.m. the same day. Order it in the afternoon, and it’s there by 7 a.m. the next morning. This rapid response is powered by BMW’s Anseong Regional Distribution Center, a logistics hub located about 80 kilometers south of Seoul, dedicated to keeping BMWs on the road with minimal downtime. Fir

Nov. 11, 2024

LG ramps up US battery push with $6.7b supply deal for Rivian EVs

South Korea's LG Energy Solution has secured a landmark deal with Rivian, the US electric vehicle maker known for its rugged electric trucks and SUVs. The South Korean battery manufacturer will deliver a total of 67 gigawatt-hours worth of 4695 cells -- named for their 46mm diameter and 95mm height -- over the next five years. Although neither company disclosed the exact financial details, Korean industry analysts estimate that the deal could be worth at least $6.7 billion, based on the typ

Nov. 8, 2024

Korean transformer export surge on clean energy, AI demand

South Korea’s transformer industry is booming thanks to rising global demand for clean energy and artificial intelligence infrastructure. Leading Korean manufacturers like HD Hyundai Electric and Hyosung Heavy Industries have seen a significant surge in orders for their high-capacity transformers, which are essential for handling the massive electricity loads required by renewable energy projects and data centers supporting AI. With their order books full and growing, these companies are n

Nov. 8, 2024

PUBG powers Krafton to record Q3 earnings

Krafton, the South Korean gaming giant behind the popular title PUBG: Battlegrounds, on Thursday posted record-breaking financial results for the third quarter of 2024, fueled by strong demand for its flagship game and ongoing investments in artificial intelligence. The company reported third-quarter revenue of 719.3 billion won ($516.18 million) and an operating profit of 324.4 billion won, reflecting year-over-year increases of 59.7 percent and 71.4 percent, respectively. This strong performan

Nov. 7, 2024

Tata Daewoo rebranded for EV shift

GUNSAN -- Tata Daewoo Commercial Vehicle Company, a well-established name in commercial trucks often seen on construction sites and in logistics operations across the globe, has rebranded itself as Tata Daewoo Mobility. Joining a broader industry trend, Tata Daewoo’s rebranding as a "mobility" company reflects its new mission to lead in eco-friendly transport through the development of electric and hybrid vehicles. During the 30th anniversary ceremony held at its headquarters in

Nov. 7, 2024

Q3 sees mixed fortunes for Korean tire makers amid higher shipping costs

South Korea’s top three tire manufacturers -- Hankook Tire, Kumho Tire and Nexen Tire -- showed mixed financial performances in the third quarter as they grappled with rising costs and softer demand in the automotive market. While Hankook and Kumho managed to post strong profits, Nexen struggled amid rising shipping expenses and weaker demand in North America. Hankook Tire led the pack, hitting a new record for quarterly sales at 2.44 trillion won ($1.77 billion), up 4.1 percent from last

Nov. 5, 2024

[From the Scene] A rare glimpse into Mercedes' data-driven battery assembly

HEDELFINGEN, Germany -- At Mercedes-Benz’s battery production facility in Hedelfingen, Stuttgart, a group of Korean reporters was recently given a close-up look at how the automaker assembles the battery packs that power its flagship electric vehicles, the EQS and EQE. The visit offered a rare glimpse into the detailed, highly automated process that Mercedes-Benz takes on to ensure the reliability of its EV batteries. “Every little part is recorded and can be kept for up to 30 years

Nov. 4, 2024

Korean startups seek global talent through D.Camp’s new internship initiative

D.Camp, one of South Korea’s largest startup incubators, held a networking event on Friday to connect international students with internship positions at local startups. The event, hosted at D.Camp’s Front1 facility in Seoul’s Mapo-gu district, brought together representatives from 13 startups and dozens of international students who had applied to these companies in hopes of securing an internship over the winter break. The event is part of a new initiative launched by D.Camp

Nov. 3, 2024