Hyundai builds local fan base with Japan’s first official owner club

Japan's first official Hyundai Motor fan club has been established, marking a milestone in the brand’s growing presence since its reentry into the market in 2022, Hyundai Motor Company said Tuesday. Hyundai Motor Club Japan, formed by local owners and enthusiasts of Hyundai vehicles, held its launch ceremony on Sunday in Fujinomiya, Shizuoka Prefecture, Japan. The club, comprised largely of electric vehicle drivers, is expected to become a key channel for sharing Hyundai EV ownership experiences

Aug. 5, 2025

Korea’s anti-obesity drug race in 2 minutes

A lot of people are trying to lose weight for a healthier life, a better appearance or self-satisfaction — but losing weight is not all that easy. For those struggling to cut fat, anti-obesity medications are practically magical. With the global weight-loss drug market expected to reach $150 billion in 2035, Korean pharmaceutical companies are rushing to come up with their own anti-obesity medications. Here’s how far they have come so far.

Aug. 4, 2025

Trump’s China tariffs reshape US ESS market, offer boon for Korean batteries

The market for energy storage systems, or ESS, in the US is at a critical juncture, as Korean battery-makers move to fill the gaps left by domestic players hurt by tariffs. Oregon-based Powin, once a top-three ESS integrator, filed for bankruptcy after tariff-driven costs on Chinese battery imports surged, exposing how vulnerable US firms are to foreign supply shocks. The shift, driven by Donald Trump’s push to curb Chinese dominance, is opening the door for Korean firms to ramp up local product

Aug. 3, 2025

Hyundai Motor CEO says tariff deal removed uncertainties in US operations

Hyundai Motor Company CEO Jose Munoz said Thursday that the new tariff agreement between South Korea and the United States removes uncertainties, enabling the business to move forward in predictable frameworks. “This agreement ensures that the partnership (between Korea and the US) will continue flourishing, with predictable frameworks that benefit workers and communities in both nations,” the CEO wrote in a post on LinkedIn. The remark came hours after Korea and the US reached a new trade agree

Aug. 1, 2025

Genesis Motor Europe appoints Peter Kronschnabl as new managing director

Genesis Motor Europe, the European arm of the Korean luxury automaker, announced Thursday the appointment of Peter Kronschnabl as its new managing director, effective Monday. He will lead operations at the brand’s European headquarters in Frankfurt, Germany, succeeding Xavier Martinet, president and CEO of Hyundai Motor Europe, who served in the role on an interim basis. Kronschnabl brings over 30 years of experience in the automotive industry, having held senior leadership positions at BMW Grou

Aug. 1, 2025

Hyundai, Kia lose FTA edge as Korea accepts US tariff hike

The reduction of US tariffs on South Korean automobiles to 15 percent offers only limited relief for Hyundai Motor Group, which faces mounting challenges in the world’s second-largest car market. Stripped of its former zero-tariff advantage under the FTA, the automaker is bracing for a tougher fight to maintain its competitive edge. According to Seoul's presidential office, Korea and the US negotiated a 15 percent tariff on Korean-made automobiles on Thursday, lowering the rate from 25 percent.

July 31, 2025

LG Energy Solution wins $4.3b battery deal, likely with Tesla

LG Energy Solution has secured a 5.9 trillion won ($4.3 billion) deal to supply lithium-iron phosphate battery cells, likely for Tesla’s energy storage systems, solidifying its position as the only producer of these cost-effective batteries in the US. According to LG Energy Solution’s regulatory filing on Wednesday, it will supply LFP cells for a global client for three years from Aug. 1, 2027, to July 31, 2030, with the possibility of extending the contract to 2034. This agreement represents 23

July 30, 2025

Hyundai Motor chief heads to US to back up Korea’s tariff negotiations

Hyundai Motor Group Executive Chair Chung Euisun is flying to the United States to support the Korean government’s tariff negotiations with Washington, according to government sources Wednesday. Chung met with US President Donald Trump as the Korean auto giant announced a $21 billion investment in the US at the White House in March, including a new steel mill in Louisiana and the expansion of local production at its new Georgia manufacturing factory, Hyundai Motor Group Metaplant America. Chung

July 30, 2025

Samsung SDI beats rivals in W1tr government ESS bid

Samsung SDI has secured the lion's share of the 1 trillion won ($725 million) worth of South Korean energy storage systems up for government bidding, leveraging its technological prowess in the advanced battery cells. According to media reports Monday, Samsung SDI won bids for six out of Korea’s eight ESS projects, outpacing its domestic rivals — LG Energy Solution and SK On. This was the first round of ESS construction project bids overseen by the government, and covered a total of 3,390 megawa

July 28, 2025

Fescaro bucks industry norms to become Korea’s first full-stack auto cybersecurity provider

Fescaro, a Korean startup specializing in auto security, has defied the traditions of the original equipment manufacturer-heavy industry and is now looking to expand its all-around anti-hacking capabilities on the global stage. “A normal auto cybersecurity company is usually in a third-party position as it offers solutions defined and required by automakers and parts suppliers, which is regarded as a regular value chain,” said Hong Seok-min, CEO of Fescaro, in an interview at the startup’s offic

July 28, 2025

[Photo News] Ioniq 6 face-lift debuts with class-leading range

Hyundai Motor Company on Monday launched a face-lifted version of its flagship electric sedan, the Ioniq 6, in the Korean market — the first update since the model’s debut in 2022. The Korean automaker has enhanced battery capacity and aerodynamic design, achieving the longest driving range among electric models in Korea at up to 562 kilometers on a single charge. The price starts at 48.56 million won ($35,150). (Hyundai Motor Group)

July 28, 2025

Kia sets new sales record in India for H1

Korea’s second-largest automaker Kia posted record sales in India during the first half of 2025, bolstered by the launch of its new Syros sport utility vehicle. According to data from the Society of Indian Automobile Manufacturers, Kia sold 142,139 units in India between January and June, surpassing its previous first-half sales record of 136,108 units — set in 2023 — by 4.4 percent. The performance marks a rebound from last year’s decline and puts the firm nearly halfway toward its full-year ta

July 27, 2025

[Photo News] Royal tour at Hankook Tire’s UK hub

Han Chang-yool (front right), managing director of Hankook Tyre UK, leads a tour for Princess Anne (front left), the Princess Royal, at Hankook House — the company’s new headquarters and logistics base in the UK — on July 17. Located in a key logistics hub connecting London, Cambridge and Oxford, the 33,200-square-meter facility features cutting-edge, eco-friendly infrastructure and will serve as Hankook’s base for UK expansion. (Hankook Tire & Technology) Princess Anne (right), the Princess Roy

July 27, 2025

Kia logs 24.1% drop in profit amid US tariffs

Kia said Friday that its operating profit declined 24.1 percent on-year to 2.8 trillion won ($2 billion) in the second quarter, largely due to the 25 percent automobile tariffs imposed by the US. According to Kia’s conference call on earnings from April to June, its operating profit margin declined to 9.4 percent, marking a single-digit figure for the first time in 10 quarters. Its sales revenue reached a record high of 29.3 trillion won, with a 6.5 percent increase from the previous year. “The

July 25, 2025

LG Energy Solution posts 152% growth in profit on upbeat US sales

LG Energy Solution said Friday its operating profit in the second quarter surged 152 percent on-year to 492.2 billion won (357 million), predominantly led by stable demand for electric vehicles and energy storage systems in the North American market. According to the company’s earnings report, it achieved profitability for the first time in six quarters, excluding financial benefits from the Advanced Manufacturing Production Credit under the US Inflation Reduction Act (IRA). However, sales reven

July 25, 2025