Kia said Friday that its electric SUV model EV6 has been recognized as Car of the Year and Electric SUV of the Year by the UK automotive What Car?’s Car of the Year Awards, Friday. “The EV6 combines a huge real-world range with the ability to charge at speeds that no rival can keep up with, addressing two of the biggest concerns that people still have about electric cars. Kia has been able to take advantage of the compact size of electric motors and produce a car that’s hugely

South Korea's technology trade reached the second-highest tally ever of $29.9 billion in 2020, down 5.5 percent from the previous year, government data showed Friday. The technology trade refers to the country's international technology transactions, such as the use of patents, licenses and technical services, as opposed to tech products, according to the Ministry of Science and ICT. The ICT ministry said outbound technology transfers amounted to $12.8 billion in 2020, compared with imports of

Audi, BMW and five other companies will voluntarily recall more than 29,000 vehicles to fix faulty components, the transport ministry said Friday. This is the latest in a series of recalls by carmakers operating in South Korea due to problems with vehicle components. The seven companies, including Stellantis Korea, Honda Motor Co., Tesla Korea, MAN Truck & Bus Korea and Hyundai Motor Co., are recalling a combined 29,092 units of 26 different models, the Ministry of Land, Infrastructure a

Hyundai Motor said Thursday it has partnered with US quantum computer firm IonQ to develop next-generation batteries for cars. The partnership will allow Hyundai to use IonQ’s quantum computers to develop high-performance lithium batteries with better energy efficiency at lower costs. According to the carmaker, quantum-powered chemistry simulation is expected to significantly enhance the quality of lithium batteries by making improvements to the devices’ charge and discharge cycl

Lotte Confectionery said Thursday it will invest 34 billion won ($28.5 million) in its Russian subsidiary, Lotte KF RUS, looking to scale up the local production of its popular Choco Pie chocolate cakes in the country. The Koreans’ staple chocolate snack enjoys nation-wide popularity in Russia, as it tapped into the country’s tea culture that pairs hot beverage with biscuit-type sweets. The pie even serves as a low trans-fat breakfast meal there. While Orion has been at the

LG Energy Solution will employ four preemptive measures as it can’t afford yet another recall crisis after going public next week. According to market analysts Thursday, the South Korean battery giant will adopt Z-folding technology, manufacture more batteries resistant to gas issues, directly manufacture key safety components and mount ESS with fire-resistant LFP batteries. Z-folding The adoption of Z-folding technology reflects LG Energy Solution’s determination not to repea

Samsung Electronics said Thursday that the Korean tech giant and UK’s telecom carrier Vodafone have launched the first fifth-generation open radio access network site in the UK. Supported by Samsung‘s virtualized RAN solutions, Europe’s first scaled commercial open RAN project built on Vodafone‘s architecture enabled the first virtual call on the open RAN infrastructure between Vodafone and UK government officials on Jan. 11. The deployment marks a milestone following V

Over 34 percent of South Koreans were paid subscribers to over-the-top (OTT) media, or video streaming services, a survey showed Thursday. Paid subscribers to OTTs stood at 34.8 percent last year, up 20.4 percentage points from the previous year, according to a survey of 6,834 people over the age of 13 by the country's media regulator, the Korea Communications Commission (KCC). South Korea's OTT usage rate rose to 69.5 percent, compared with 66.3 percent from the previous year, amid the stay-a

French wine, spirit seller eyes fast growing demand for high-end liquor, at-home occasions here

Hyundai Glovis, Hyundai Motor Group’s logistics arm, said Thursday that it has launched Autobell, an online platform for used car sales and purchase, to diversify its business portfolio.  Hyundai Glovis has been operating a used car business since 2001, mostly focused on B2B sales of secondhand cars through auctions. Its parent company Hyundai Motor sought to enter the certified used car market lately, but it seems blurry whether the automaker can launch B2C business as planned this

Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Thursday it has named Nam Koong-whon as its new CEO following the resignations of two former nominees. Kakao said its board of directors accepted the resignation of incumbent co-CEO Yeo Min-soo, who was earlier named to lead the tech giant for another four years. Nam, who has served as the chief of Kakao's new organization aimed at finding new growth engines, will be officially named as the CEO during a board of di

Honda has become the third global automaker after General Motors and Hyundai Motor to jointly develop next-generation electric vehicle batteries with SES, a Boston-based startup set to go public in the US this year. According to SES Thursday, the Japanese automaker agreed to acquire a 2 percent stake in the startup and jointly develop lithium-metal batteries, which are 30 percent more powerful than the strongest lithium-ion batteries in the market. “Honda has joined General Motors and

　CITIC Capital, a global investment company managing $16 billion worldwide, has invested in Organica, a plant-based food company in Korea, the companies said on Wednesday. 　It is the first case of CITIC Capital of China making a direct investment in a Korean company, they added. 　CITIC has shown interest in Organica’s vision for sustainability and its plant-based product lines, ranging from clean juices and snacks to ready-made meals, the Seoul-based company said. It aims to gain a glob

Despite stagnant smartphone biz, Samsung still seen tied to mobile while others on race to new market