LG Energy's $6.5 bn EV battery supply deal with Ford terminated
LG Energy Solution Ltd. said on Wednesday that its long-term electric vehicle battery supply agreement with Ford Motor has been terminated following...
Ford, SK On to unwind BlueOval JV amid prolonged EV slump
Ford Motor Co. and South Korea’s battery maker SK On Co. are dismantling one of the most ambitious battery alliances formed during the US EV b...
GM Korea’s vehicle sales collapse to record low as Chinese EV maker BYD pulls ahead
The South Korean affiliate of US auto giant General Motors Co. saw its vehicle sales in November fall below 1,000 units – the lowest figure si...
LG to supply AI infrastructure solutions to Microsoft worth billions of dollars annually
LG Group’s key units, including LG Electronics Inc. and LG Energy Solution Ltd., signed a memorandum of understanding (MOU) with Microsoft Cor...
Zeekr joins Chinese peers BYD, XPeng to push into South Korea's EV market
China’s Zeekr, the premium electric vehicle brand under Geely Automobile, on Tuesday signed its first dealer agreements with Korean companies,...
Hyundai Motor Group to build $2.7 bn EV mother factory in S.Korea
Hyundai Motor Group, the world’s third-largest automaker with 7.23 million vehicles sold last year, will invest 4 trillion won ($2.7 billion) ...
Koreans' Cambodia fears drive surge in Korea-Japan airfares as travelers shun SE Asia
Fears over travel to Cambodia, dubbed "Cambodia phobia" by South Korean media, following a series of scam scandals in the Southeast Asian country, h...
Samsung SDI set to supply ESS batteries to Tesla amid industry shift toward US-made parts
Samsung SDI Co. is set to clinch its first large-scale battery supply agreement with Tesla Inc., a deal for energy storage systems (ESS) estimated a...
NPS to invest $300 mn in Aramco’s Jafurah gas project led by GIP
The National Pension Service, South Korea's largest institutional investor, has committed $300 million to Saudi Aramco’s $100 billion Jafurah ...
Kia gears up electrification with new EV models and factory upgrades
Kia Corp., South Korea’s second-largest automaker, is accelerating its transition toward electrification, unveiling plans to add new electric ...
Hyundai cuts IONIQ 5 prices in US to deal with end of EV tax subsidy
Hyundai Motor Co., South Korea’s top automaker, on Wednesday lowered the prices of the IONIQ 5 lineup in the US to as automakers in the world&...
Korea’s battery materials maker Enchem scraps $143 mn US plant plan
Enchem Co., a South Korean battery materials maker, has scrapped its plan to invest $143 million to build a plant in the US due to the protracted do...
XPeng to drive into South Korea, fueling Chinese EV incursion
XPeng Inc., often referred to as China’s Tesla, is set to open a local unit in South Korea, where its Chinese electric vehicle peers, BYD Co. ...
Seoul considers Korean version of IRA tax credit to offset US tariff impact
South Korea is considering introducing production tax credits for domestic companies hit by US tariffs, in a move analysts describe as a de facto su...
South Korea’s FSC faces closure after 17 years amid sweeping reform
South Korea’s top financial regulator, the Financial Services Commission (FSC), is poised to be written into history after 17 years, as the go...
Hyundai Mobis pushes into robotics for edge in humanoid era
Hyundai Mobis Co., the auto parts arm of Hyundai Motor Group, will expand into robotics and automotive semiconductors in a bid to secure new growth ...
Hyundai Motor Group launchs 1st EV-only production lines in Europe
Kia Corp. on Aug 20 launched production of the compact electric sedan EV4 at its plant in Žilina, Slovakia. The EV4 represents Kia's first Europe-bu...
HD KSOE buys Doosan Vina for $207.5 mn in green ship push
HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) agreed to buy a full stake in Doosan Vina, the Vietnamese unit of Doosan Enerbility C...
HMM to buy back $1.5 bn shares, paving way for KDB’s fund recovery
HMM Co., South Korea’s largest shipping firm, will buy back and cancel 2.14 trillion won ($1.5 billion) worth of shares, paving the way for it...
Hana Bank, Vietnam’s BIDV to expand cross-border QR payment services under strategic partnership
Hana Bank, one of South Korea’s leading lenders, said on Wednesday that it has signed an agreement with Vietnam's largest state-owned commerci...
South Korea’s EV sales jump, hinting at end to market slump
South Korea’s electric vehicle market is showing signs of recovery after a prolonged slowdown, with both new and used car sales rebounding fas...
Hyundai to roll out 1st electric SUV tailored for China in September
Hyundai Motor Co. is set to unveil its first electric sports utility vehicle designed for the Chinese market in September to stage a comeback in the...
Korens cleared in trade secrets dispute with SNT Motiv
South Korean auto parts manufacturer Korens and its affiliate Korens EM have been cleared of all charges in a years-long legal battle with larger ri...
Keistone Partners acquires e-commerce logistics firm GoodsFlow from SK Energy
Keistone Partners has acquired GoodsFlow Co., an e-commerce logistics service provider, from oil refiner SK Energy Co. in a deal valued at around 50...
Fabless chip unicorn FuriosaAI raises $120 mn in new funding
South Korea’s AI chip designer FuriosaAI Inc. said on Thursday it has raised 170 billion won ($120 million) in bridge funding from about 40 in...
Hyundai Mobis defies tariff headwinds with 37% jump in Q2 profit
South Korea’s top auto parts maker Hyundai Mobis Co. posted a 36.8% year-on-year rise in second-quarter operating profit, buoyed by a strategi...
EV charger operator Chaevi files for preliminary Kosdaq IPO review
Chaevi Co., South Korea’s top operator of electric vehicle rapid charging infrastructure, said on Tuesday it has filed a preliminary applicati...
South Korea’s EV exports rebound in June after 16-month decline
South Korea’s exports of electric vehicles bounced back last month, snapping a 16-month decline streak as robust demand from Europe helped off...
Samsung Electro-Mechanics’ plan to build plant in Mexico shelved amid Trump tariffs
Samsung Electro-Mechanics Co., a leading South Korean electronics parts maker, has abandoned plans to build a new manufacturing plant in Mexico and ...
Hyundai helps Korean economy most with $265 bn contribution
Hyundai Motor Group, the world’s third-biggest automaker, generated the most economic value among major South Korean conglomerates last year, ...
