US, Japanese rivals more likely to be affected by new tariffs on Canada, Mexico Hyundai Motor Company and Kia may end up benefiting from the US government’s 25 percent tariffs imposition on Canada and Mexico as the Korean automakers’ competitors are projected to endure more damage from the tariffs, according to auto industry analysts and experts Wednesday. S&P Global Mobility reported that the US imported some 3.6 million light vehicles from Canada and Mexico in 2024, which accounted for about 2

Korean tire maker logs W9.4tr in annual revenue on strong sales of high-value added products Hankook Tire & Technology has turned in its best yearly earnings yet as the Korean tire maker successfully expanded sales of high-value added products, despite the global economic recession. According to Hankook Tire on Tuesday, the company logged 9.41 trillion won ($6.45 billion) in revenue and 1.76 trillion won in operating profit last year, up 5.3 percent and 32.7 percent on year, respectively. Hankoo

Korean automakers recognized for best models in UK, US Hyundai Motor Group has gotten off to another year of accolades, as the Korean auto conglomerate’s vehicles have already won best model honors at various auto awards across the globe. According to the automaker on Tuesday, seven Hyundai Motor and Kia vehicles took home top ratings at the What Car Awards in the United Kingdom last month. This year’s 48th edition of the What Car Awards, an annual awards event announced by the UK’s biggest car

Korean shipbuilder aims to develop world’s 1st ammonia-powered ships by 2028 Hanwha Group has partnered with Baker Hughes, a global energy technology company, to co-develop turbines fueled by ammonia as the Korean conglomerate aims to produce the world’s first ships using the fuel by 2028. According to Hanwha on Tuesday, the two sides signed a joint development and collaboration agreement at this year’s Baker Hughes Annual Meeting in Florence, Italy on the previous day. The partnership will look

Chief of Korean battery maker anticipates 5-10% growth in annual revenue for 2025 LG Energy Solution CEO Kim Dong-myung has emphasized the importance of securing technological superiority in times of crisis, as the Korean battery maker braces for a tough business environment as the Trump administration withdraws support for the electric vehicle industry. “It is true that there are voices of concern due to the anticipated policy changes in North America,” said Kim in a letter to the employees of

Georgia Tech President Angel Cabrera says elimination of EV subsidies will encourage technological development from automakers Hyundai Motor and Georgia Tech announced a multidecade partnership to work together in research and applications to support the future of sustainable mobility, hydrogen economy and workforce development in August 2023. About a year and a half later, Georgia Tech President Angel Cabrera underlines that the US university’s collaboration with Hyundai has been a win-win situ

Local firms set to conduct eight rocket blastoffs throughout this year Korean companies are gearing up to mark this year as the true opening of the private sector-led space economy for the country with eight launches of space rockets -- the most the country’s ever seen in a year -- set for blastoff throughout 2025. According to the Ministry of Science and ICT as well as Korea’s space firms on Friday, Hanwha Aerospace has been bustling as it gets ready to carry out the fourth launch of the homegr

Hyundai Motor keeps mum on timeline of US robotics unit’s market debut Hyundai Motor has hinted at exploring options for an initial public offering of its US-based robotics unit Boston Dynamics, as the Korean auto conglomerate aims to bolster robotics capabilities for future businesses. “Regarding a timeline or plans for Boston Dynamics’ (initial public offering), nothing has been confirmed yet so there is not much to comment right now but we will communicate (with stakeholders) once we have an

Executive Vice Chairman Chung Ki-sun highlights future of shipbuilding through digital technologies HD Hyundai Executive Vice Chairman Chung Ki-sun discussed plans for a multi-fuel future and ways to optimize the building and operation of software-defined ships at the World Economic Forum Annual Meeting 2025 in Davos, Switzerland, the Korean shipbuilder said Thursday. Attending the Davos Forum for the third consecutive year, Chung participated in the Oil & Gas Governors and Supply Chain & Transp

Hanwha Group Vice Chairman Kim Dong-kwan explores defense, shipbuilding cooperation with top US officials in Washington DC Hanwha Group Vice Chairman Kim Dong-kwan met with top US officials under the new Trump administration to bolster the Korean conglomerate’s global network as he attended the US president's inauguration ceremony in Washington DC earlier this week. According to Hanwha on Wednesday, Kim participated in a candlelight dinner at the National Building Museum the day before the cerem

Rise of China’s naval forces may trigger Trump administration to outsource building military ships in Korean shipyards Anticipation for Korean shipbuilders continues to build up as the second Trump administration is actively seeking ways to revamp its naval fleet to countermeasure China’s overwhelmingly dominant shipbuilding sector and formidable maritime forces. After the US president mentioned Korea’s cooperation in the maintenance, repair and overhaul, or MRO, business in a call with now susp

Nexon, Krafton, Netmarble, NCSoft, Kakao Games seek next blockbuster, diversify portfolio to propel growth Korean game companies are gearing up for a breakout year with a slate of highly anticipated new titles readying for release to woo gaming fans across the globe, as the companies look to expand markets beyond Korean borders. Nexon and Krafton are poised to carry on positive momentum in fresh genres this year after clocking in another year of success thanks to hit titles such as side-scrollin

Agreement expected to clear hurdle for Korea to successfully ink contract for Czech nuclear power plant bid Korea Hydro & Nuclear Power and Korea Electric Power Corp. have reached a settlement with Westinghouse, a US nuclear power firm, over an intellectual property dispute, bolstering the group's chances to successfully secure a contract with the Czech Republic to build two nuclear reactors there. According to the two Korean state-run energy companies on Friday, they decided to come to an agree

Korean automaker plans to expand new car’s availability across Asia Pacific, Latin America and Middle Eastern regions Kia has begun mass production of the Syros, a new sport utility vehicle specifically developed to fill the needs of customers in India, as the Korean automaker aims to expand its presence in the world’s third-largest auto market. According to Kia, the automaker held the rollout ceremony at its Anantapur plant in Andhra Pradesh, India, Thursday, following the world premiere of the

Hankook Tire & Technology announced a three-year partnership with the FIA World Rally Championship to become the sole tire supplier for every category during the racing competition's 2025 season. Through its partnership with the WRC, Hankook Tire now is one of only a few global tire brands to support two of the five major FIA world championships, including the FIA Formula E World Championship. This year's WRC will mark the first time for competing cars to be running on Hankook Tire products in i