SEOUL, July 30 (Korea Bizwire) — SK Innovation Co., South Korea’s leading oil refiner, said Wednesday it will merge two electric vehicle-related affiliates as part of a business reorganization amid slowing EV sales. SK On Co., the company’s EV battery manufacturing unit, will absorb SK Enmove Co., a provider of EV lubricants and thermal management [...]
SEOUL, July 30 (Korea Bizwire) — As artificial intelligence advances and electric vehicles become more widespread, South Korea is witnessing the rise of new technology-driven professions—including automotive cybersecurity experts and AI service operations managers, according to a report released Wednesday by the Korea Employment Information Service (KEIS). The newly identified occupations will be included in [...]
SEOUL, July 29 (Korea Bizwire) — LG Innotek Co., an electronic component manufacturing unit of LG Group, said Tuesday it has formed a strategic partnership with U.S. software company Aeva Technologies Inc. to collaborate in the laser imaging, detection and ranging (LiDAR) sector. Under the agreement, LG Innotek will provide next-generation frequency modulated continuous wave [...]
SEOUL, July 28 (Korea Bizwire) — Eco-friendly vehicle registrations in South Korea have surpassed the 3-million mark for the first time, driven by rising demand for hybrid and electric vehicles (EVs), government data showed Monday. According to the data from the transport ministry, the cumulative number of registered vehicles nationwide stood at 26.41 million as [...]
SEOUL, July 28 (Korea Bizwire) — Hyundai Motor’s move to localize auto parts production in the United States in response to steep U.S. tariffs is casting a shadow over South Korea’s auto parts industry, sparking concerns of declining exports and weakened domestic supply contracts. In its second-quarter earnings call on July 24, Hyundai confirmed it [...]
SEOUL, July 25 (Korea Bizwire) — South Korea’s automotive parts sector continues to grow in both scale and profitability, but remains behind global competitors in key performance metrics such as profitability and research investment, according to a new report from the Korea Automotive Technology Institute. The report, released Thursday, analyzed 213 domestic parts manufacturers—including major [...]
TAIPEI, July 25 (Korea Bizwire) — European turboprop aircraft maker ATR on Friday signed a major contract with Taiwan-based Uni Air for 19 new ATR 72-600 aircraft while signaling ambitions to expand into the South Korean market. A signing ceremony was held in Taipei to formalize Uni Air’s plans to modernize and expand its domestic [...]
SEOUL, July 24 (Korea Bizwire) – South Korean prosecutors have requested a 150 million won ($115,000) fine for Trevor Hill, former CEO of Audi Volkswagen Korea (AVK), in connection with the automaker’s diesel emissions manipulation scandal. During Hill’s first court hearing on Thursday at the Seoul Central District Court, prosecutors charged him with violating South [...]
SEOUL, July 24 (Korea Bizwire) — General Motors will continue importing several vehicle models from South Korea despite profit headwinds from tariffs imposed during former U.S. President Donald Trump’s administration, the company said Tuesday. In the company’s second-quarter earnings call, GM CEO Mary Barra emphasized the strong performance of the automaker’s Korean assembly plants, calling [...]
SEOUL, July 23 (Korea Bizwire) — Hyundai Rotem Co., the train manufacturing subsidiary of South Korea’s Hyundai Motor Group, has submitted a bid for a new tram project in Warsaw, Poland, marking its latest push into the European urban rail market, industry sources said Wednesday. According to the sources, Hyundai Rotem participated in a tender [...]