SEOUL, Jun. 7 (Korea Bizwire) — Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said Friday its U.S. unit has received a 241.4 billion-won (US$175.8 million) order for double-deckers in the United States. Hyundai Rotem USA Corp. has obtained the order from the Massachusetts Bay Transportation Authority (MBTA), the company said [...]
SEOUL, Jun. 5 (Korea Bizwire) –Hyundai Motor Company has introduced the 2025 Grandeur, a revamped version of its flagship sedan, the company announced on June 5. Since its debut in 1986, the Grandeur, once nicknamed the “executive car,” has been Hyundai’s signature sedan. Last year, it solidified its position as a best-selling vehicle in South [...]
SEOUL, May 30 (Korea Bizwire) — KG Mobility, formerly known as SsangYong Motor Co., said Thursday it has launched the Torres EVX Van, the first electric van vehicle model in South Korea. The Torres EVX Van is equipped with a 73.4kWh lithium iron phosphate blade battery and can travel 411 kilometers on a single charge. [...]
SEOUL, May 30 (Korea Bizwire) – South Korea’s automakers led all industries in cash dividends paid to shareholders last year, reflecting a boom in exports and demand for eco-friendly vehicles even as a global chip slump weighed on technology giants. Listed companies distributed a total of 29.5 trillion won in cash dividends for 2023, up 3.3% [...]
SEOUL, May 29 (Korea Bizwire) — KT SAT Co., the satellite service arm of South Korea’s telecom giant KT Corp., said Wednesday it has partnered with a German low Earth orbit (LEO) satellite company to strengthen its service capacity. KT SAT signed a memorandum of understanding with Rivada Space Networks as its third partner for [...]
SEOUL, May 28 (Korea Bizwire) – With electric vehicles rapidly gaining popularity, South Korea is planning to retrain automobile mechanics who have lost business to manage and maintain public electric vehicle charging stations, as part of a “just transition” policy aimed at protecting workers potentially impacted by the country’s shift toward carbon neutrality. According to the [...]
SEOUL, May 28 (Korea Bizwire) — Hyundai Motor Group said Tuesday it has hired a former Porsche engineer who led the development of the luxury sports car brand’s first electric vehicle (EV), Taycan, as it strives to further improve its vehicles’ performance. The South Korean carmaker has appointed Manfred Harrer as executive vice president and [...]
SEOUL, May 27 (Korea Bizwire) – The Korea AeroSpace Administration (KASA) officially opened its doors Monday to devise South Korea’s space policy and foster the growth of the country’s space industry. KASA, the country’s full-fledged space agency, was established in Sacheon, about 300 kilometers south of Seoul. The agency’s 293-strong workforce will be filled in [...]
SEOUL, May 27 (Korea Bizwire) – The South Korean Ministry of Land, Infrastructure and Transport has announced plans to launch a pilot program for a new “smart toll” system on the nation’s highways, an initiative launched in collaboration with the Korea Expressway Corporation. The trial, slated to commence on May 28 for a one-year period, aims [...]
SEOUL, May 26 (Korea Bizwire) – Volkswagen Group Korea has embraced its role as a corporate citizen by establishing a nonprofit foundation to commemorate two decades in the South Korean auto market. On May 23, the company, led by President and CEO Till Scheer, announced the launch of the Volkswagen Group WE: Foundation, a philanthropic [...]