LG Electronics Co. said Monday it has been named the most creative supplier of the year by General Motors Co. (GM) for its outstanding innovation and collaboration. At GM’s 33rd Supplier of the Year Awards held last week, LG Electronics received the Creativity Team Award in recognition of its role in redefining in-vehicle entertainment and [...]
SEOUL, April 11 (Korea Bizwire) — Korean Air Co., South Korea’s leading air carrier, said Friday its first-quarter sales rose 3 percent on-year thanks to increased demand in both the passenger and cargo business divisions. Sales for the three-month period ending in March reached 3.96 trillion won (US$2.7 billion), while operating profit dropped 19 percent [...]
SEOUL, April 10 (Korea Bizwire) — Volvo Car Korea, Mercedes-Benz Korea, Man Truck & Bus Korea and two other foreign car brands will voluntarily recall over 117,000 vehicles due to manufacturing defects, the transport ministry said Thursday. The five companies, including Jaguar Land Rover Korea and Nissan Korea, are recalling a combined 117,925 units across [...]
SEOUL, April 10 (Korea Bizwire) — Genesis, the independent luxury auto brand of Hyundai Motor Group, said Thursday it will offer the Bloomberg app and its proprietary Genesis Music service free of charge for vehicles equipped with its next-generation infotainment system. The Bloomberg app will be available across all supported Genesis models, while Genesis Music [...]
SEOUL, April 10 (Korea Bizwire) — Hyundai Mobis Co., the auto parts unit of Hyundai Motor Group, held an annual mobility tech show in the United States this week, highlighting its vision and investment strategy for the North American market. The company’s fourth Mobis Mobility Day event was held in Detroit on Wednesday (U.S. time), [...]
SEOUL, April 9 (Korea Bizwire) — Global demand for electric vehicle (EV) batteries rose sharply in the first two months of 2025, driven largely by the continued expansion of China’s battery giants, even as the broader EV market faces a temporary slowdown, often referred to as the “EV chasm.” South Korea’s major battery manufacturers, however, [...]
SEOUL, April 9 (Korea Bizwire) — South Korea has initiated a new research project aimed at developing magnetic levitation propulsion technology for an envisioned next-generation high-speed train system called the Hypertube, the government said Wednesday. The Ministry of Land, Infrastructure and Transport, in partnership with the Korea Railroad Research Institute, is spearheading the project. The [...]
SEOUL, April 8 (Korea Bizwire) — Hyundai Motor Group Executive Chair Euisun Chung will deliver a keynote speech at a U.S. forum expected to be attended by many key industry figures, including the top executive of General Motors Co. (GM), event organizers said. The forum, Automotive News Congress, will be held Sept. 11 in Detroit [...]
SEOUL, April 8 (Korea Bizwire) — South Korean defense giant Hanwha Aerospace Co. said Tuesday it has signed a 402.6 billion-won (US$274.3 million) deal to supply key components for Poland’s self-propelled howitzers. Under the agreement with Poland’s state-run Huta Stalowa Wola (HSW), the South Korean company will deliver components, including powerpacks, to be integrated into [...]
SEOUL, April 7 (Korea Bizwire) — KG Mobility Corp., a South Korean carmaker, said Monday it has added the Actyon sport utility vehicle (SUV) to its lineup in Germany as part of its strategy to boost sales in Europe. It is the second time for KG Mobility to launch the Actyon SUV in an overseas [...]