Korea Zinc to acquire 5% stake in Canada's The Metals Company

Korea Zinc said Tuesday that it plans to acquire a 5 percent stake in The Metals Company, a Canadian mineral resource development firm, in a strategic move to reduce reliance on Chinese for sourcing critical minerals. Under the $85 million agreement, the company secured the right to purchase additional shares at a predetermined price, contingent upon TMC’s future market value and growth potential. Korea Zinc looks to counter the impact of the US decoupling from the Chinese supply chain for criti

June 17, 2025

From stigma to status symbol: Lime-green plates lose bite after a year on the road

The lime-green license plate, introduced last year to curb the misuse of high-priced corporate vehicles, is facing growing skepticism over its effectiveness, as it is increasingly seen as a symbol of success rather than a social stigma. The number of luxury imported cars registered under corporate names has jumped 27 percent this year, following last year’s sharp decline, which was widely attributed to the new plate system. The rebound has raised concerns that vehicles intended for private use m

June 17, 2025

LG Energy Solution breaks into Chinese EV market with battery deal for Chery

LG Energy Solution announced Monday that it has secured an agreement to supply 46-series cylindrical batteries to China’s Chery Automobile, marking the first time a Korean company will power Chinese electric vehicles. Under the deal, LG Energy Solution will provide 8 gigawatt-hours of its new 46-series batteries — measuring 46 millimeters in diameter and between 80 and 120 millimeters in height — over the next six years, enough to power approximately 120,000 EVs. Mass production of the batteries

June 16, 2025

Genesis to expand into Western Europe to tap luxury EV demand

Hyundai Motor Company, Korea’s largest automaker, announced plans to expand its luxury brand Genesis into France, Spain, Italy and the Netherlands with a lineup of electric models, accelerating its push into the European market, where traditional local luxury brands still dominate. The announcement was made on Friday during the 24 Hours of Le Mans — one of the world’s largest motorsports events — with Hyundai Motor Group Chief Design Officer Luc Donckerwolke and Xavier Martinet, head of Hyundai

June 15, 2025

BYD’s swift ascent challenges EV rivals in Korean market

BYD is looking to shake up Korea’s electric vehicle sector as the Chinese EV behemoth has become the second-largest EV seller among the 15 auto importers in the country with just a single model on offer. According to the Korea Automobile Importers and Distributors Association’s data on Sunday, BYD sold 513 units of the Atto 3, a battery-powered compact sport utility vehicle, in May. This tops some of the strongest players here, such as BMW with 493 EVs sold, Mercedes-Benz with 145 EVs sold and e

June 15, 2025

Hyundai Steel to supply 100,000 tons of auto steel sheets to GM Korea

Hyundai Steel, the automotive steel manufacturing subsidiary under Hyundai Motor Group, is set to supply steel sheets to GM Korea as early as September, following the automaker’s strategic decision to shift its supply chain away from China. According to reports on Friday, GM Korea recently informed China’s Baoshan Iron & Steel that it would be switching its steel sheet supplier. The company is carrying out quality certification processes before receiving the materials, estimated at 100,000 tons

June 13, 2025

Hyundai names robotics, AI expert Laura Major as CEO of Motional

Hyundai Motor Group said Friday it has appointed Laura Major as new CEO of Motional, its Boston-based autonomous driving joint venture with Aptiv, to advance the future mobility business. Underscoring Major’s previous position as chief technology officer of Motional, the automaker highlighted her new role in accelerating the company’s artificial intelligence technology capabilities ahead of the commercial launch of its autonomous driving service next year. Since Motional’s establishment in 2020,

June 13, 2025

Tesla’s retreat in Europe fuels Hyundai-BYD showdown

Tesla’s shrinking presence in the European market is setting the stage for cutthroat competition between Hyundai Motor Group and China's BYD. While the Korean auto giant has maintained its stronghold in the world’s second-largest electrified vehicle market, the Chinese EV maker is rapidly eating into Tesla’s share as it aggressively offloads excess domestic inventory in global markets. According to reports on Wednesday, Tesla may lose its position as the third-largest EV brand in Europe to BYD f

June 12, 2025

[Photo News] Dancing robots

Boston Dynamics' four-legged industrial surveillance robot Spot dazzled the audience and judges at this year's America's Got Talent by performing a group dancing act. Five Spots carried out synchronized choreography as they moved their legs and bodies to the tune of "Don't Stop Me Now" by Queen while using their robot arms to lip-sync the lyrics of the song. The robots, which are developed by Hyundai Motor-backed Boston Dynamics, received unanimous "yes" votes from the four judges to advance to

June 12, 2025

Hyundai Mobis develops radar tech to dodge tailgaters

Hyundai Mobis, Korea’s leading automotive parts maker, announced on Wednesday that it has developed a new safety feature designed to automatically maintain a safe distance when a following vehicle comes too close. The system utilizes rear and side radars to detect the movements of a trailing vehicle, while a front camera monitors lane markings and objects ahead. If the distance from the vehicle behind narrows to less than 10 meters, the system issues visual and audio warnings. If conditions are

June 11, 2025

Korean battery-makers push President Lee for direct subsidies

South Korean battery manufacturers are urging President Lee Jae-myung to act as they face slowing electric vehicle demand and intensifying competition from Chinese rivals increasingly dominating global markets. On May 31, three days before the presidential election, Lee wrote in a Facebook post, “I will recharge the South Korean economy with K-batteries,” underscoring his belief that the battery industry is key to driving Korea’s next economic leap. Lee’s pledges included strengthening research

June 9, 2025

[Photo News] Audi's new service center in Suwon

Audi Korea said Monday that it opened a new service center in Suwon, Gyeonggi Province, with the capacity to repair up to 35 vehicles per day. The German luxury carmaker plans to expand its service network in Korea to 37 locations by the end of this year. (Audi Korea)

June 9, 2025

LG chief doubles down on EV battery push with Indonesia visit

LG Group Chairman Koo Kwang-mo reaffirmed the conglomerate’s commitment to growing its battery businesses as he visited HLI Green Power, a 50:50 battery joint venture by LG Energy Solution and Hyundai Motor Group in Indonesia, earlier this month. According to LG on Monday, Koo toured the battery cell production line at HLI Green Power and highlighted the need for solidarity and cooperation with partners to break through a stalled electric vehicle market. Located in Karawang, West Java, as the co

June 9, 2025

Tesla tops monthly imported car sales for 1st time in Korea

Tesla has claimed the top spot in monthly imported car sales in the South Korean market for the first time. According to data from the Korea Automobile Importers & Distributors Association on Friday, the US-based electric vehicle powerhouse sold 6,570 units in May, a 57.7 percent increase compared to the previous year. It outpaced Mercedes-Benz’s 6,415 units and BMW’s 6,405 units. The two German carmakers have traditionally dominated the top two positions in South Korea's imported car sector. Po

June 6, 2025

Will new Nexo revive shrinking hydrogen mobility push?

Hyundai Motor is set to launch the fully revamped Nexo as early as this month in Korea, seven years after introducing its sole fuel-cell-powered sport utility vehicle currently on the market. With improved performance and fuel efficiency over its predecessor, the new Nexo is positioned to lead Hyundai’s initiative to drive the global transition to hydrogen mobility — a vision first outlined in 1998 by Chung Mong-koo, honorary chair and father of current Chair Chung Euisun. “Nexo represents the e

June 5, 2025