Hyundai Motor and Kia witnessed all-time high sales in the United States in the first half of this year, the companies said Friday. The two automotive brands of the largest Korean automobile group sold a combined 804,944 vehicles in the US in the first half of this year, a 48.1 percent increase from a year earlier, according to Hyundai and Kia’s US branches. Hyundai Motor America said its sales grew 49.4 percent on-year, selling 407,135 units, while Kia America sold 378,511 units, up 4

South Korea’s business community expressed concerns Friday about a global move toward additional taxes on technology companies that would affect Korean tech giants such as Samsung Electronics and SK hynix. The Federation of Korean Industries, an organization that represents the interests of Korean businesses, said in a statement, “We express concerns about the side effects of an agreement on the digital tax announced by the Organization for Economic Cooperation and Development.

LG Electronics Inc. is likely to report strong second-quarter earnings, analysts said Friday, as its mainstay home appliance business continued to rack up solid results. The South Korean tech company was projected to log 17.6 trillion won ($15.5 billion) in sales in the April-June period, up 37 percent from a year earlier, while its operating profit was estimated to soar 140 percent on-year to 1.2 trillion won over the period, according to the data from seven local brokerage houses compiled by

South Korean automaker Hyundai Motor Co. said Friday its fleets of Xcient fuel cell trucks have surpassed 1 million kilometers of driving since they hit the roads in Switzerland nearly a year ago. Hyundai Motor has shipped a total of 46 Xcient heavy-duty truck trucks to the European nation since July 2020, which came in service for 25 Swiss companies in logistics, distribution and supermarket fulfillment. Over that distance, the hydrogen-powered trucks, which only emit water, have reduced carb

Hyundai Motor Co. and its affiliate Kia Corp. said Friday their combined sales jumped 44 percent in the United States last month from a year earlier on strong demand for their SUVs. Hyundai and Kia sold 140,951 vehicles in the US in June, up from 98,005 units in the same month of last year, the companies said in separate statements. Hyundai's sales rose 45 percent to 72,465 units last month from 50,135 a year ago, while Kia's also advanced 43 percent to 68,486 from 47,870 during the cited per

Hanwha Group Chairman Kim Seung-yeon met with Edwin John Feulner Jr., the founder of the Heritage Foundation, in Seoul on Wednesday, continuing their friendship that dates back almost 40 years, the Korean group said Thursday. Meeting over dinner at the Plaza Hotel Seoul, Kim and the former president of the Heritage Foundation exchanged candid thoughts on many things including how relations between South Korea and the US can prosper in the post-coronavirus era, Hanwha said. Kim was accompan

LG Chem announced Thursday that the company received positive results from the phase 2 clinical trial of its gout treatment candidate LC350189 in the US. LC350189 is a novel nonpurine selective inhibitor of xanthine oxidase, which oxidizes both hypoxanthine and xanthine to uric acid. High uric acid levels can increase the risk of gout. The phase 2 clinical trial in the US, which involved 156 patients, showed efficacy of the gout treatment candidate in lowering uric acid levels, accordi

South Korean diagnostics company Seegene said Thursday that the company has partnered with Bio-Rad Laboratories for the clinical development and commercialization of diagnostic products in the US. Under the agreement, Seegene will provide the company’s diagnostic tests for use on Bio-Rad’s molecular diagnostic CFX96 Dx Real-Time PCR Detection Systems. The contract will run for five years from the date that the two companies win approvals from the US Food and Drug Administration.

Shin Dong-won, the eldest son of the late founder and chairman of Nongshim Group Shin Choon-ho, has been inaugurated as the new chairman of Nongshim Group, the South Korean food company said Thursday. The promotion of Shin, who was formerly Nongshim’s vice chairman, was decided at a temporary board of directors meeting, the company said, to allow him to succeed to the post of his late father who died of chronic illness in March at the age of 92. Under the second-generation leader, Non

South Korea just had the best June ever in terms of export performance on strong global demand, as vaccine rollouts in major economies raise hopes for a recovery. According to the Ministry of Trade, Infrastructure and Energy, the country’s total volume of exports last month came in at $54.8 billion, up 39.7 percent from a year earlier. It was the best export performance that Asia‘s fourth-largest economy has ever recorded in June, and the third-best performance for any month of

GS Caltex said Thursday it will help partner firms across its supply chain to improve business practices in accordance with environmental, social and corporate governance management principles. According to the South Korean total energy company, about 320 partners will conduct self-examinations on their ESG capabilities and submit the results by July 9. After review, GS Caltex will provide risk management consultations. In 2019, GS Caltex developed an ESG questionnaire and 107 partners car

Renault Samsung Motors’ sports utility vehicle QM6 is becoming a popular choice for drivers, being offered in three different fuel types -- gasoline, diesel and liquefied petroleum gas -- Renault Samsung said on Thursday. Originally born to serve in battlefields, SUVs were loud and prone to vibration with their larger bodies and wheels, and often diesel-centered. The South Korean unit of the French automaker Renault was one of the fast movers to prepare for the exit of diesel cars, the

Korean Air said on Thursday its aerospace division plans to bid to be the main contractor on South Korea’s new spy plane development project. The move comes as the country’s Defense Acquisition Program Administration has decided to launch a second project to replace four older Baekdu reconnaissance aircrafts with the newly configured Baekdu aircraft. The project, set to run from 2022 to 2026, is expected to cost around 870 billion won ($768.1 million). The Baekdu aircraft is a key

South Korea’s leading shipbuilder Samsung Heavy Industries on Thursday claimed to have built the world’s first solid oxide fuel cell-powered LNG carrier. It will now begin work on commercializing the ship, the firm said. The company also said it has received an approval in principle from Norwegian and German classification society DNV for the design of the SOFC-powered ship, which has been developed in collaboration with Bloom Energy. An approval in principle, also known as AIP, i

CEO aims to expand nontelecom biz to 30% by 2025