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Hyundai, U.S. Firm Join Hands for Battery Development

Hyundai, U.S. Firm Join Hands for Battery Development

SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday it has partnered with U.S. quantum computer firm IonQ for battery development. The partnership will allow Hyundai Motor to use IonQ’s quantum computers to develop more effective car batteries, Hyundai said in a statement. Quantum-powered chemistry simulation is expected to significantly enhance [...]

Hyundai Capital Launches Joint Venture to Provide Auto Finance in France

Hyundai Capital Launches Joint Venture to Provide Auto Finance in France

SEOUL, Jan. 18 (Korea Bizwire) — Hyundai Capital Services Inc., South Korea’s leading auto finance company, said Tuesday it has launched a joint venture with CGI Finance, a subsidiary of France’s Societe Generale Group. Hyundai Capital France will provide auto finance, including lease, loan and insurance, for customers of Hyundai Motor Group — Hyundai Motor [...]

KT Partners with Shinhan Bank to Develop AI, Metaverse Services

KT Partners with Shinhan Bank to Develop AI, Metaverse Services

SEOUL, Jan. 17 (Korea Bizwire) — KT Corp., South Korea’s major telecom operator, said Monday it has partnered with major South Korean lender Shinhan Bank to collaborate in new businesses, including artificial intelligence and platform services. KT said it will also acquire a 2.1 percent stake in Shinhan Bank for 437.5 billion won (US$366.9 million) [...]

POSCO Logs Record High Earnings in 2021 on Robust Demand, High Prices

POSCO Logs Record High Earnings in 2021 on Robust Demand, High Prices

SEOUL, Jan. 12 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Wednesday that it logged its largest earnings ever last year on the back of strong demand for key products and high prices. Its operating income stood at 9.2 trillion won (US$7.73 billion) last year on a consolidated basis, compared with an operating profit [...]

LG Electronics Forecast to See Record Sales in Q4 on Strong Home Appliance Biz

LG Electronics Forecast to See Record Sales in Q4 on Strong Home Appliance Biz

SEOUL, Jan. 7 (Korea Bizwire) — LG Electronics Inc. estimated Friday its fourth-quarter sales reached a record quarterly high, apparently backed by its strong home appliance business, but the operating profit is likely to sink due largely to increased logistics costs. The company expected to log 21 trillion won (US$17.5 billion) in sales for the [...]

Hyundai, Singaporean Firm Sign MOU for Metaverse Platform

Hyundai, Singaporean Firm Sign MOU for Metaverse Platform

SEOUL, Jan. 7 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Friday it has signed an initial agreement with a Singaporean company for partnership in the metaverse platform business. Hyundai Motor has signed a memorandum of understanding (MOU) with Singapore-based three-dimensional contents developing and operating platform firm Unity to establish a future metaverse platform [...]