SEOUL, Nov. 19 (Korea Bizwire) – Korea Aerospace Industries Ltd. (KAI), South Korea’s sole aircraft manufacturer, said Wednesday it has signed a memorandum of understanding (MOU) with a United Arab Emirates (UAE) defense company to cooperate in the aerospace sector. The agreement with EDGE Platforms and Systems, a unit of the UAE’s defense conglomerate EDGE [...]
SEOUL, Nov. 18 (Korea Bizwire) — Hyundai Motor Group will supply hydrogen fuel-cell buses to Guangzhou as part of a joint initiative with China’s commercial vehicle maker Kaiwo Group, the company said Tuesday, marking a significant expansion of its hydrogen mobility footprint in the world’s largest auto market. The 8.5-meter hydrogen buses—co-developed by Hyundai’s local fuel-cell [...]
SEOUL, Nov. 18 (Korea Bizwire) — Hyundai Motor Group is moving to strengthen its defenses against mounting cyber threats, establishing a new group-wide control tower and sharply increasing investments in information security amid a wave of high-profile hacking incidents in South Korea. According to industry officials on Tuesday, the conglomerate recently created the Group Cyber Threat [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korea’s electric vehicle market has hit a symbolic milestone, surpassing 200,000 new registrations in a single year for the first time — a development officials say signals the end of a three-year slump. The Climate, Energy and Environment Ministry said Sunday that 200,650 new EVs were registered as of [...]
SEOUL, Nov. 17 (Korea Bizwire) — LG Display is set to supply ultra-large vehicle displays for Mercedes-Benz’s upcoming electric vehicle lineup, solidifying what both companies describe as a deepening “innovation partnership” in the fast-growing automotive electronics sector. According to industry officials on Sunday, LG Display will provide a 40-inch display for the 2026 Mercedes-Benz GLC EV, [...]
SEOUL, Nov. 16 (Korea Bizwire) – Sales of mini cars by South Korea’s five automakers are expected to remain below 100,000 units for a second consecutive year in 2025, industry data showed Sunday, amid a lack of new models and shifting consumer preferences. From January to October, the five carmakers — Hyundai Motor Co., Kia [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s auto, shipbuilding and semiconductor industries on Friday broadly welcomed the release of the joint fact sheet detailing the country’s trade and security agreement with the United States, easing weeks of anxiety over steep tariffs. But automakers voiced disappointment that the timing of tariff reductions remains unclear and that [...]
SEOUL, Nov. 14 (Korea Bizwire) – Kia Corp., South Korea’s second-biggest carmaker, said Friday it held a ceremony to mark the completion of one facility and the groundbreaking of another for a purpose-built vehicle (PBV) production hub, as part of its broader push to become a future mobility solutions provider. The company held a completion [...]
INCHEON, Nov. 14 (Korea Bizwire) – Mercedes-Benz Group AG plans to deepen its long-running technology and supply chain partnerships with leading South Korean companies, as the German automaker navigates evolving global supply chain dynamics, the company’s chief said Friday. Ola Kallenius, chairman and chief executive officer (CEO) of Mercedes-Benz, said during a media event in [...]
SEOUL, Nov. 13 (Korea Bizwire) – South Korean conglomerate LG Group said Thursday its affiliates discussed a comprehensive partnership with Mercedes-Benz Group AG in automotive parts for advanced cars, including electric vehicles (EVs). Cho Joo-wan, chief executive officer of LG Electronics Inc., met with Mercedes-Benz Group Chairman Ola Kallenius in Seoul to share visions on [...]