Growing demand for large construction machinery in emerging nations offsets slow recovery of Chinese market

Hyundai Motor Group Metaplant America, Hyundai Motor Group’s new electric vehicle plant in Georgia, will begin production later this year, allowing the automaker to leverage the Inflation Reduction Act benefits to better compete in the US EV market. Hyundai announced Wednesday that the inaugural model to be produced at the Georgia plant will be the 2025 Ioniq 5. This launch, set for the fourth quarter, marks Hyundai’s first official statement on the operational timeline and specifi

Samsung Electronics has been enhancing the reach of its proprietary Tizen operating system by incorporating artificial intelligence capabilities. According to Samsung Newsroom on Thursday, Tizen has been deployed in approximately 270 million units of Samsung smart TVs released as of the end of last year. Considering that it was installed in about 50 million units in 2015, it recorded a growth rate of about 440 percent. “Samsung Tizen is preparing for another leap forward by evolving into

Hyundai Motor Group said Thursday that it has dispatched robotic services to the Factorial Seongsu office building in eastern Seoul. The DAL-e Delivery robot by Hyundai Motor and Kia and the parking robot by Hyundai Wia will automate services ranging from parking vehicles up to 2.2 tons to delivering items within the building weighing up to 10 kilograms. The parking robot will also synchronize with Hyundai-Kia’s automatic charging robot, set to arrive in the third quarter at the same build

The European Union's aviation safety authority will be "ready to react appropriately" against possible flight maintenance issues of the European operation of South Korean low-cost carrier T'way Air, which has recently been plagued by frequent delays due to aircraft maintenance issues, an agency spokesperson said Thursday. T'way Air experienced four flight delay incidents last week alone, affecting hundreds of international passengers connecting South Korea with overseas

The South Korean government said Thursday it has carried out a probe into some imported vehicles made by Japanese automakers Toyota Motor Corp. and Yamaha Motor Co. in connection with their improper certification tests in their home country. Seoul's Ministry of Land, Infrastructure and Transport said it has looked into whether 38 models from Japanese automakers currently under investigation for fraudulent certification tests in Tokyo were being sold in South Korea. The ministry said none of

Chung Hyung-kwon, former head of Alibaba Korea, has been named the CEO of Gmarket, the troubled e-commerce unit owned by Shinsegae Group. The new appointment is part of a series of executive reshuffles at the Korean retail giant whose key affiliates are running out of cash amid operational losses. Before joining Alibaba Group, Chung, a financial specialist, worked at multiple investment banks, such as Goldman Sachs and Credit Suisse, and served as an executive at Coupang, Shinsegae's e-comm

Georgia Gov. Brian Kemp (left) and first lady Marty Kemp (on the governor's left) visit CJ Foodville's Tous les Jours bakery store in central Seoul on Tuesday. Earlier in the day, the governor met with CJ Foodville CEO Kim Chan-ho to discuss business cooperation regarding the company's $54 million bakery and food processing plant that is under construction in Gainesville, Georgia, set for completion by the end of 2025. (CJ Foodville)

Kakao Bank has yielded the result of its first overseas investment, as Indonesian digital bank Superbank officially launched Wednesday. With the launch, Superbank becomes the first bank concentrating on digital financial services in Indonesia, supported by major shareholders that include Korean internet-only lender Kakao Bank, Southeast Asia's biggest mobility application Grab, Indonesian media conglomerate EMTEK Group and Singaporean telecommunications giant Singtel. In September last year

Posco Group Chairman Chang In-hwa stressed that the group will continue to focus on investing in its secondary battery materials business and expand the application of eco-friendly steel-making methods at a forum organized by World Steel Dynamics in New York, US, Posco Holdings said Wednesday. “The global auto industry will completely shift to electric vehicles in the end despite a recent slowdown. (Posco Group) sees the chasm as an opportunity to strengthen its business and to make new in

Daewoong Pharmaceutical, South Korea’s leading drug company, said Wednesday its botulinum toxin product Nabota has been launched in Spain, one of Europe's largest aesthetic toxin injectable markets. According to Daewoong Pharmaceutical, its US partner Evolus, which has the exclusive right to import and sell Daewoong's botulinum toxin Nabota in the US, Europe and Canada, started to sell the botulinum toxin product under the brand name of Nuceiva, starting last week. “Evolus

SK Group Chairman Chey Tae-won’s high-profile divorce from his estranged wife Roh Soh-young took an unexpected twist after the Seoul high court made a rare rectification of a mistake in its ruling that ordered the chaebol chief to pay $1 billion in property division to the wife. On Monday, the appellate court corrected numerical errors in its written judgment for the divorce settlement of Chey and Roh, but upheld its overall ruling involving the record-high divorce settlement. Earlier in t

LG Energy Solution and Samsung SDI, two of Korea's leading battery manufacturers, are showcasing their latest energy storage solutions at Interbattery Europe 2024 in Munich, Germany, from Wednesday to Friday this week. The two firms are presenting a range of advanced products designed to meet the growing demand for energy storage systems in Europe and beyond due to the increasing reliance on renewable energy sources. An energy storage system is a large-scale setup designed to store and mana

Hyundai Mobis, a South Korean auto parts developer under Hyundai Motor Group, said Wednesday that it has developed a sound-based artificial intelligence system that can determine the accuracy of product quality from sounds generated during inspection. It has applied the AI technology at its manufacturing site. According to Hyundai Mobis, a new technology called Acoustic AI has been installed at its Changwon plant in South Gyeongsang Province, which rolls out motor-driven power steering products.

Hana Financial Group Chairman and CEO Ham Young-joo met with overseas investors in Hong Kong via a two-day event to promote the banking group's strategies to elevate its corporate and shareholder values, the firm said Wednesday. At the event that took place Monday and Tuesday, Ham stressed how the market value of the financial group has increased since the announcement of the capital management and shareholder return plan in early 2023. It was the first global investor relations event for H