Mercedes-Benz Korea said Thursday it will add an all-electric sedan this year to its EV lineup amid a growing appetite for zero-emission vehicles.  The German carmaker introduced the new EQS, the first pure electric sedan built on its dedicated electric modular architecture, during the media day of the 2021 Seoul Motor Show. Under its all-electric brand Mercedes-EQ, the new EQS 450+ AMG Line and EQS 450+ AMG Line Launch Edition models will go on sale in the Korean market within this year

BMW Korea, GM Asia-Pacific Regional headquarters and Mercedes-Benz Korea will voluntarily recall more than 220,000 vehicles to fix faulty components, the transport ministry said Thursday. This is the latest in a series of recalls by carmakers operating in South Korea due to problems with vehicle components. The three carmakers are recalling a combined 223,330 units in 84 kinds of models, the Ministry of Land, Infrastructure and Transport said in a statement. For instance, BMW plans to gradua

South Korea plans to increase its stockpile of rare metals and expand the list of such items for strategic reserves, the country's finance minister said Wednesday. The move aimed at ensuring stable supply of such materials came in the wake of a recent supply shortage of aqueous urea solution, a key additive for diesel vehicles. The government plans to swiftly boost the stockpile of rare metals to a maximum of 180 days of use from the current 100 days, according to Finance Minister Hong Nam-ki.

Samsung chief's first trip to US in 5 years suggests recovery of tech giant’s global network, leadership revival. But what's next?

Posco Chemical Co., a unit of South Korean steel giant Posco, said Wednesday it has completed the construction of a new refractory plant in the southern city of Pohang as part of its efforts to boost production of basic industrial materials. The 49.2 billion won ($41.5 million) plant has an annual production capacity of some 21,700 tons of unfired refractory materials, which will boost the company's combined annual production capacity of the materials by 14 percent to 52,500 tons, it added. Refr

Global shipbuilding conglomerate Hyundai Heavy Industries Group said Wednesday it will establish the world's first technical guidance for offshore green hydrogen plants To that end, the group's affiliates -- Korea Shipbuilding & Offshore Engineering Co. (KSOE) and its subsidiary Hyundai Heavy Industries Co. -- have signed a preliminary deal with ABS, a US ship quality assurance and risk management company. The deal is aimed at setting up the world's first guideline for the design of offsho

IT giant offers sneak peek into new metaverse platform Arcverse, world’s first artificial intelligence operating in Korean

Samsung Electronics will invest $17 billion into its foundry sector, a business that makes money by manufacturing chips clients have designed. But some experts say that despite the staggering size of the investment, the South Korean tech giant is unlikely to challenge the global foundry race led by TSMC. Instead of splurging cash, a structural change must occur to catch up with TSMC, a No. 1 foundry player with a global market share of 58 percent as of second quarter this year, they said. &ld

Hanwha Solutions said Wednesday it has invested $100 million in a Houston-based tech company Lancium, which aims to build bitcoin mines across Texas that will run on renewable energy. According to the solar-to-hydrogen business unit of South Korean conglomerate Hanwha Group, Lancium has purchased 9.5 square kilometers of land in Texas and plans to establish over 2,000 megawatts of generating capacity across multiple sites. Lancium develops software and technology that connects bitcoin mines

Korea Aerospace Industries announced Wednesday that it will acquire a 10 percent stake in Konan Technology, a company specialized in AI and big data. This investment in shares comes as an effort to acquire future industry-related technology by implementing AI, big data and deep learning into the aviation and defense sectors. KAI and Konan Technology will work together on developing an AI-based prognostics and health management system that can be used on Korean Utility Helicopter, KF-21, FA-50,

The Seoul Mobility Show, the only official motor show in South Korea, will kick off this Friday simultaneously at Kintex in Goyang and Paju in Gyeonggi Province as well as Seoul, showcasing 18 new cars. According to the organizer for the show, the exhibition will continue until Dec. 5 with over 100 automobile and mobility companies from six different countries taking part. The main exhibition at Kintex includes vehicles from Kia, Maserati, Mercedes-Benz, Mini, BMW, Audi, Isuzu, Genesis, Porsch

South Korean manufacturers are seeking to expand their presence in the electric vehicle market through a partnership with Rivian, the burgeoning US electric vehicle maker that has been in the global spotlight for its potential to become the next Tesla. According to the industry, Posco International is supplying some 145 billion won ($122 million) of half shafts for 340,000 vehicles produced by Rivian. Domestic partner Erae AMS will work alongside it to begin delivering the ordered amount next

Construction equipment maker Hyundai Doosan Infracore Co. said Wednesday it has signed a deal with local builder SK Ecoplant to improve digital technologies related to construction site management. Under the deal, Hyundai Doosan Infracore will develop new technologies using its cloud-based construction site management platform XiteCloud, which will be demonstrated on the construction sites of SK Ecoplant, the company said. Thanks to growing demand for the construction technology digitalization

Sales of imported commercial vehicles in South Korea fell 26 percent in October from a year earlier amid the extended COVID-19 pandemic, an industry association said Wednesday. The number of newly registered imported commercial vehicles declined to 336 units last month from 452 a year ago, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. Decreased sales of Mercedes-Benz, Volvo and Scania trucks weighed on the monthly result, KAIDA said. From January to

South Korea's imports of golf equipment rose to a record high in the first 10 months of this year on the back of strong demand amid the pandemic, customs data showed Wednesday. The imports of golf clubs and other related equipment reached $601 million in the January-October period, up 29.3 percent from the previous year, according to the data from the Korea Customs Service. The reading hit an all-time high for any first 10 month period of the year. It was also higher than the yearly imports of