Hyundai Motor Group promoted 252 executives on Wednesday, the largest upper-level promotion ever in the company’s history, on the back of its record-high earnings this year as it looks to find future mobility leaders. Hyundai Motor said the promotions focused on preparing for the future as it speeds up its generational shift in leadership. Among the promoted, there are 197 newly appointed executives, of which some 38 percent are in their 40s. The conglomerate's proportion of those in their

Hyundai Motor Group said Tuesday it has decided to sell its entire shares of its car manufacturing plant in Russia, which has been temporarily shut down because of Russia's invasion of Ukraine, to a Moscow-based company, ending a decadelong operation. The carmaker’s board of directors approved selling Hyundai Motor Manufacturing Russia in St. Petersburg, along with a General Motor plant it acquired in 2020 to the Russian automotive service firm Art-Finance. “We have reviewed var

Hyundai Motor Group said Tuesday that it has donated 35 billion won ($26.8 million) to Community Chest of Korea, a nonprofit organization and state-sanctioned charity. The South Korean auto conglomerate has taken part in CCK’s year-end campaign for helping the underprivileged since 2003. Hyundai Motor said it increased this year’s donations by 10 billion won. According to the company, the auto giant’s accumulated amount of donations reached 394 billion won as of this year. &ldq

South Korean battery and energy firms that have already built production sites in the United States are expected to receive tax credits from the US Inflation Reduction Act, Korea's Ministry of Trade, Industry and Energy said Friday. The US Department of Treasury earlier unveiled proposed guidelines for manufacturers looking to receive consumer tax credits for making eco-friendly energy components such as batteries for electric vehicles and solar panels. The incentive, named the Section 45X Advan

Hyundai Motor's all-electric compact sports utility vehicle, the Kona Electric, will continue to be eligible for cash incentives offered by the French government to buyers of electric vehicles. Paris on Thursday released a list of 78 EVs from 22 brands eligible for the government incentives. According to the announcement, Kona was the only Korean vehicle that remained eligible, whereas Kia’s two hybrid vehicles -- the Niro and Soul -- were excluded from the list. The new eligibility l

Kia will present its future sustainable mobility strategies and unveil five new concept vehicles for the first time at the CES tech show in Las Vegas early next month, the Korean automaker said Thursday. Returning to CES for the first time since 2019, Kia said it will redefine the “Purpose-Built vehicle,” or PBV, the brand’s total mobility solution, to “Platform Beyond Vehicle” to offer experience-based values that suggest new business and lifestyles. The automaker

The attempt to sell off South Korea’s largest container shipper HMM has been delayed while the two bidders -- Dongwon Group and Harim Group -- continue to battle over the bidding process. Dongwon last week filed a complaint over the fairness of the bidding process and raised the possibility of taking legal action if the state-run Korea Development Bank and the Korea Ocean Business Corporation, the owners of 39.879 million shares in HMM, accept Harim Group’s proposal, which has reques

South Korean shipbuilding and heavy industries conglomerate HD Hyundai is looking to further strengthen its business ties with Saudi Arabia. HD Hyundai Vice Chairman Chung Ki-sun on Wednesday met with two high-ranking officials from Saudi Arabia -- Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef and Saudi Industrial Development Fund CEO Sultan Bin Khalid Al Saud -- at the headquarters of HD Hyundai Heavy Industries in Ulsan. Chung was accompanied by HD Hyundai Oilbank CEO

[코리아헤럴드=간형우, 변혜진 기자] 르노코리아자동차가 내년 본격적인 리브랜딩에 나선다. 4년 간의 공백을 깨고 새로 출시할 중형 하이브리드 SUV(스포츠유틸리티 차량)를 시작으로 ‘구식’ 브랜드 이미지를 탈피하고 한국과 글로벌 시장을 공략한다는 구상이다. 르노코리아자동차 스테판 드블레즈 사장은 최근 코리아헤럴드와의 인터뷰에서 “내년 가장 중요한 두 가지 사업은 브랜드 이미지 제고와 2분기 오로라1(가칭) 차량 출시”라며 “지난 22년 간 우리는 (한국 시장에서도) 유럽 중심적인 차량을 선보였기 때문에 프랑스 자동차제조사의 정체성과 한국 소비자의 요구를 조화롭게 융합하는 데 실패했다”고 말했다. 이어 그는 “르노삼성자동차 시절 삼성의 헤리티지 덕분에 SM5, QM6, QM3 등 르노 자동차의 브랜드 이미지가 좋았다”면서도 “하지만 시간이 흐르면서 르노는 구식이라는 인식이 강해졌고 신선한

Porsche Korea CEO Holger Gerrmann has been appointed as an honorary foreign citizen of Seoul, the German automaker's Korean office said Monday. "Blending historical landmarks and modern cityscapes and combining vibrant cultural diversity, Seoul is a city that inspires dreamers and is full of positive energy for the future," Gerrmann said in a statement. "As a representative of the corporate citizens and a citizen of Seoul, I will continue to fulfill my social responsibilities

Renault Korea Motors is pinning high hopes for next year to be the beginning of a complete turnaround after years of struggle, as the French automaker has big plans for 2024 and beyond, its CEO says. “Next year, we will have two big events. One related to the brand uplift and one related to the launch of the Aurora 1,” said Renault Korea Motors CEO Stephane Deblaise in an interview with The Korea Herald at the automaker’s office in Seoul on Dec. 5. The Aurora 1, codenamed AR1,

The race to be South Korea’s top auto importer is coming down to the wire as BMW tries to reclaim the No. 1 position from Mercedes-Benz for the first time since 2015. According to the Korea Automobile Importers and Distributors Association’s report released Tuesday, BMW sold 69,546 vehicles in the Korean market from January to November. Mercedes-Benz sold 68,156 units in the same period, 1,390 cars less than BMW. The bestselling models of the two German automakers are the BMW 5 Serie

South Korean defense firms are looking to expand their market presence in Africa and the Middle East as they showcase their latest cutting-edge weapons systems at the Egypt Defense Expo 2023 taking place at the country’s international exhibition center in Cairo this week. According to Korea Aerospace Industries and LIG Nex1 on Tuesday, the two companies participated in the EDEX for the first time this year. Korea Aerospace Industries, also known as the KAI, said it will concentrate on in

Hanwha Aerospace said Monday it has signed a $2.6 billion contract (3.45 trillion won) to ship 152 K9 self-propelled howitzers to Poland through 2027, taking the next step in the arms deal signed between the two sides last year. The South Korean defense firm and the Polish State Armament Agency agreed on a framework to export Hanwha Aerospace’s 672 units of K9 self-propelled howitzers and 288 units of the multi-caliber rocket artillery system, K239 Chunmoo, in July 2022. Later in the sam

Hyundai Motor Group Executive Chair Chung Euisun on Friday reiterated the automaker’s unwavering support for Korean archery, emphasizing the need to find ways for archery to contribute to the society. “In the mid to long term, (we) should put in effort to (bring archery) closer to the public and we must think about how archery can contribute to our society and act on it,” said Chung at an event held at Grand Walkerhill Seoul to commemorate the 60th anniversary of South Korean a

Kim Dong-myung, the newly appointed CEO of South Korean battery giant LG Energy Solution, on Friday vowed to execute winning strategies to lead qualitative growth and create a professional culture aimed at achievement. “If the past three years were the era of LG Energy Solution 1.0 where we laid the foundation for quantitative growth and business, now is the time to make the era of LG Energy Solution 2.0 that results in qualitative growth by securing a dominant upper hand among the competi

크래프톤이 중국 게임사 넷이즈를 상대로 낸 저작권 소송에서 미국 법원이 크래프톤의 손을 들어주며 5년간 이어진 법정 공방에 마침표를 찍었다. 30일 캘리포니아주 샌 머테이오 카운티 상급법원의 판결에 따르면 법원은 넷이즈의 모바일 게임 ‘황야행동(Knives Out)’이 크래프톤의 ‘PUBG: 배틀그라운드’와 여러 면에서 유사하다고 판단했다. 재판부는 “넷이즈의 게임은 비행기에서 낙하산을 타고 시작하는 플레이어, 전체적인 모양과 느낌, 게임 전반에 걸쳐 건물을 광범위하게 사용하는 등 배틀그라운드와 유사했다,”며 “이러한 유사성 때문에 넷이즈의 게임이 몇몇 사용자들에게 황야행동이 배틀그라운드의 모바일 버전이라는 혼란을 야기했다”고 말했다. 재판부는 또한 넷이즈가 배틀그라운드를 모방한 게임을 기반으로 모바일 시장을 선점했기 때문에 크래프톤의 모바일 배틀그라운드 게임이 사용자를 확보하기 어려웠다고 판단했다

South Korean game developer Krafton has won a copyright lawsuit against Chinese game maker NetEase to put an end to a five-year legal battle as a US court sided with Krafton. According to a ruling by the Superior Court of the State of California for the County of San Mateo, the court said that NetEase’s mobile games “Knives Out,” “Rules of Survival” and “Survivor Royale” were similar to Krafton’s battle royal shooter PlayerUnknown’s “Ba

KG Mobility is hoping to finish 2023 strong to end the year with a profit for the first time since 2016 on strong sales overseas and the automaker’s bestselling sport utility vehicle Torres. According to a regulatory filing, the Korean carmaker has logged accumulative revenue and operating profit of almost 3 trillion won ($2.32 billion) and 42.4 billion won, respectively, in the first three quarters of this year. The revenue from the period of January to September saw a 24.6 percent jump o

GS Group, the South Korean energy, retail and construction conglomerate, on Wednesday said it promoted 50 executives across its affiliates, the most the group has carried out in its annual reshuffle since its establishment in 2005. The promotions include Kim Seong-min, new CEO at GS Caltex, Yoo Jae-young, CEO of GS Power, and Cheong Yong-han, CEO of GS Entec. Kim, along with Hur Sae-hong, the incumbent CEO of GS Caltex, will serve as independent heads of the oil refiner. GS Group last month appo