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Hyundai Motor is set to temporarily halt production of electric vehicle models the Ioniq 5 and Kona EV at its Ulsan plant, marking its third production suspension this year amid sluggish global EV demand. According to industry sources on Tuesday, Hyundai Motor plans to suspend operations on the second production line at Plant 1 in Ulsan, where both the Ioniq 5 and Kona EV are manufactured for domestic and overseas markets. “Internal notification about the suspension has been distributed within t
Hyundai Motor Group recorded a 37 percent year-on-year increase in passenger car sales in South Africa last month, strengthening its foothold in one of Africa’s largest automotive markets. The Korean mobility giant, comprising Hyundai Motor Company and Kia, sold a combined total of 4,266 vehicles in April, according to a National Association of Automobile Manufacturers of South Africa report issued earlier this month. Hyundai Motor Company accounted for 2,989 units, up 41 percent from a year ear
Leaders of Korea's two major shipbuilders, HD Hyundai and Hanwha Ocean, met with US Trade Representative Jamieson Greer to discuss potential cooperation, as the US seeks to revitalize its shipbuilding industry. During the meeting with Greer on Friday, HD Hyundai Vice Chairman Chung Ki-sun talked about the company's ongoing collaboration with US defense shipbuilder Huntington Ingalls Industries. Emphasizing the growing need for closer industrial cooperation between the two countries, he proposed
Hyundai Rotem has inked a 420 billion won ($300 million) contract to supply unmanned trains to a subway project in Taiwan, the Korean defense and railway systems said Thursday. According to Hyundai Rotem, it will supply automated trains to the Taichung government's blue subway line project aimed at advancing public transportation in the largest city in Taiwan's central region with a population of 2.8 million. The Taichung government is pushing to build green, blue, red and orange subway lines, w
Hyundai Motor Company said Thursday it began constructing its first car manufacturing plant in Saudi Arabia, marking its entry into the burgeoning Middle East market. In partnership with Saudi Arabia’s Public Investment Fund, the auto giant will set up Hyundai Motor Manufacturing Middle East to produce up to 50,000 electric and internal combustion vehicles annually, with operations slated to begin in the fourth quarter of 2026. The PIF and Hyundai hold 70 percent and 30 percent stakes, respectiv
Korean construction giant Hoban Group has raised its stake in Hanjin KAL, the holding company of Korean Air parent Hanjin Group, to over 18 percent, stoking speculation of a looming power struggle as it closes in on the largest shareholder bloc led by the group’s chairman. In a regulatory filing on Monday, Hoban Construction, the group’s construction arm, disclosed that its stake in Hanjin KAL had climbed to 18.46 percent from 17.44 percent. The additional shares were acquired over the past year
Korean automaker Kia announced Wednesday that it has partnered with a leading engineering education institute in Andhra Pradesh, India, to nurture local automotive talent and strengthen the country's future mobility capabilities. According to Kia, the company signed a multilateral memorandum of understanding on Friday with the Indian Institute of Technology (IIT) Tirupati to forge collaboration between industry and academia. A member of India’s prominent network of 23 engineering universities kn
Global commercial vehicle manufacturer Daimler Truck announced Wednesday that it has established a strategic joint venture with FMK, a subsidiary of Korea's Hyosung Group, to become the official importer of Mercedes-Benz Trucks, Special Trucks and Daimler Buses in Korea. This partnership aims to elevate the customer experience by combining Daimler Truck’s global expertise with FMK’s strong local market knowledge. Together, the companies plan to offer industry-leading technology, premium products
KG Mobility said Tuesday it is set to supply electric buses and military vehicles to Indonesia through PT Pindad, a state-owned defense company under the country’s Ministry of Defense. The signing ceremony for the head of agreement — a non-binding preliminary document outlining the key terms of a proposed deal — took place on Thursday at Pindad’s headquarters in Bandung, Indonesia. Key figures attended the event, including KGM Chairman Kwak Jae-sun, KGM CEO Hwang Ki-young, KGMC CEO Kim Jong-hyun
SK On emerged during the first quarter as the sole South Korean battery maker to increase its market share in the global EV battery market outside China, defying headwinds from fast-growing Chinese rivals. The company captured 10.6 percent of the global market between January and March, up from 9.9 percent a year earlier, overtaking Samsung SDI to become the world’s No. 3 EV battery supplier, according to a report Friday from SNE Research. Battery usage in newly registered EVs reached 10.4 gigaw
Olive Young kicks off largest-ever K-beauty festival in Seoul
Domino’s Pizza Korea launches high-protein dough to celebrate 35th anniversary
BOK pilots digital currency, but what is it like to use?
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