A philanthropic donation made by Hyundai Motor Group Honorary Chairman Chung Mong-koo to develop vaccines has borne fruit as the auto conglomerate celebrated the grand opening of the Chung Mong-Koo Future Medicine Building at Korea University in Seoul on Monday. Chung donated 10 billion won ($7.3 million) from his personal funds to the Korea University College of Medicine in 2021 during the COVID-19 pandemic to enhance Korea’s vaccine development capacity and expand research facilities. The medi

Deutsch Automobile Group, one of the biggest dealers in Korea’s auto import industry, is zeroing in on becoming a total mobility platform company based on customer-oriented data and technology over the next decade. “Going beyond the traditional concept of simply selling cars and doing repair works, my vision is to expand into a total mobility platform that can account for daily life of mobility such as (auto) sharing, subscription, finance, charging and digital experiences,” said Kwon Hyeok-min,

BYD is looking to shake up Korea’s electric vehicle sector as the Chinese EV behemoth has become the second-largest EV seller among the 15 auto importers in the country with just a single model on offer. According to the Korea Automobile Importers and Distributors Association’s data on Sunday, BYD sold 513 units of the Atto 3, a battery-powered compact sport utility vehicle, in May. This tops some of the strongest players here, such as BMW with 493 EVs sold, Mercedes-Benz with 145 EVs sold and e

Boston Dynamics' four-legged industrial surveillance robot Spot dazzled the audience and judges at this year's America's Got Talent by performing a group dancing act. Five Spots carried out synchronized choreography as they moved their legs and bodies to the tune of "Don't Stop Me Now" by Queen while using their robot arms to lip-sync the lyrics of the song. The robots, which are developed by Hyundai Motor-backed Boston Dynamics, received unanimous "yes" votes from the four judges to advance to

Volvo Construction Equipment has decided to expand and upgrade its Korean production site in Changwon, South Gyeongsang Province, as the Swedish heavy machinery manufacturer looks to better cope with growing customer demand worldwide. According to Volvo CE on Wednesday, the company will invest approximately $264 million to bolster its crawler excavator footprints at three main production sites in Korea, Sweden and North America. The largest share of the investment is slated for Korea’s Changwon

The outlook for South Korean defense companies has grown brighter following recent remarks by the head of the North Atlantic Treaty Organization, who called for a “quantum leap” in collective defense-bolstering momentum for Korean arms exports, which have already been firing on all cylinders. “Russia could be ready to use military force against NATO within five years,” NATO Secretary-General Mark Rutte warned in a speech at Chatham House in London on Monday. “China is also modernizing and expand

LG Group Chairman Koo Kwang-mo reaffirmed the conglomerate’s commitment to growing its battery businesses as he visited HLI Green Power, a 50:50 battery joint venture by LG Energy Solution and Hyundai Motor Group in Indonesia, earlier this month. According to LG on Monday, Koo toured the battery cell production line at HLI Green Power and highlighted the need for solidarity and cooperation with partners to break through a stalled electric vehicle market. Located in Karawang, West Java, as the co

Doosan Group, a Korean power generation-to-heavy equipment conglomerate, has shaken up the leaderboard of the country’s largest conglomerates as its listed companies, namely Doosan Enerbility, saw their stock prices surge in the first five months of this year on the back of the United States doubling down on nuclear energy. According to the Korea Exchange, the combined market capitalization of Doosan Group’s seven listed companies, including Doosan Bobcat, Doosan Enerbility, Doosan Fuel Cell and

LG Energy Solution has begun the mass production of lithium iron phosphate, or LFP, batteries for energy storage systems, or ESS, at its manufacturing plant in Holland, Michigan, the Korean battery maker said Sunday. According to LG Energy Solution, the rollout strengthens the company’s local production capabilities in North America to enable the stable supply of batteries to major clients and swift responses, while avoiding the impact of US tariffs and securing more favorable cost competitivene

Hyundai Mobis on Thursday announced the opening of a 97 billion won ($70.1 million) logistics center in Gyeongju, North Gyeongsang Province, as the auto parts-maker under Hyundai Motor Group looks to improve its supply chain for the maintenance and repair works. Covering 81,000 square meters in ground space, the new logistics center will handle some 175,000 auto parts for 152 models of Hyundai Motor, Kia and Genesis vehicles. Hyundai Mobis said the new facility can deliver about 14,000 auto part

General Motors has once again dismissed speculation that it plans to end its Korean operations despite the US automaker’s decision to sell off loss-making businesses and idle assets in Korea. According to auto industry sources on Thursday, Hector Villarreal, president and managing director of GM Korea, met with the leadership of the company’s labor union the previous day to explain that the selloff decision was not part of a process to exit the Korean market but rather to increase profitability.

HD Hyundai Executive Vice Chairman Chung Ki-sun (third from right) takes a selfie with new employees of HD Hyundai Heavy Industries' special ship buisness unit at the International Maritime Defense Industry Exhibition -- MADEX -- 2025 in Busan on Wednesday. Chung presented the company's vision to build the best warships that back up the global maritime security during a reception ceremony with representatives from several countries. (HD Hyundai) Hanwha Group Vice Chairman Kim Dong-kwan (second f

The Ioniq 9, Hyundai Motor's all-electric three-row sport utility vehicle, has been selected as the official vehicle for the embassy of the Netherlands in South Korea. With the designation, the Dutch delegation became the first embassy in Korea to have a battery-powered EV as its official car. In the photo, Dutch Ambassador to Korea Peter van der Vliet (center) and Hyundai Motor officials including Kim Il-bum (left), executive vice president of Hyundai Motor's global policy office, pose for a ph

The two major contenders for South Korea’s upcoming presidential election — Lee Jae-myung of the Democratic Party and Kim Moon-soo of the People Power Party — have been voicing support for the country’s defense industry. Lee has pledged a new coordinating body for arms exports and funding for defense sector R&D. Kim, meanwhile, has pledged to support the industry by boosting South Korea's own military, particularly with nuclear submarines. He also promised to focus on specific R&D targets, inclu

HD Hyundai and Hanwha -- Korea’s leading shipbuilders -- are going all out at the International Maritime Defense Industry Exhibition -- MADEX -- 2025 in Busan this week as they both seek to showcase their state-of-the-art maritime defense technologies and solutions with eyes set on wooing global clients. This year’s MADEX, a four-day trade show set to begin at Bexco convention center on Wednesday, is expected to gather 150 companies from 12 countries as well as representatives from naval forces