Journalist

Lee Hugh
  • Geely Auto Group Becomes First Chinese Automaker Named to S&P Global Sustainability Yearbook
    Geely Auto Group Becomes First Chinese Automaker Named to S&P Global Sustainability Yearbook Geely Auto Group, the parent company of Zeekr, said Tuesday that S&P Global has recognized the company’s sustainability performance in environmental, social and governance, or ESG, areas. The company said Geely Auto Group was included in S&P Global’s “2026 Sustainability Yearbook,” announced Feb. 28, becoming the first Chinese automaker to be listed. The yearbook is based on S&P Global’s Corporate Sustainability Assessment, or CSA, and is widely used as a benchmark for corporate sustainability performance. This year, more than 9,200 companies took part, including 78 automakers worldwide. Only eight automakers, including Geely Auto Group, were selected for inclusion. Geely said it ranked fifth among the eight automakers, which it described as evidence of long-term commitment and systematic investment in ESG. It also received the “Industry Mover” designation, awarded to the company showing the most notable year-over-year improvement within its sector in the CSA. Geely said the results reflect the “One Geely” five-year strategy set by its holding company, Geely Holding Group. The plan aims to strengthen groupwide coordination and global cooperation through 2030 and build strategic capabilities to become a leader in the global auto industry. The strategy includes strengthening sustainable governance; advancing eco-friendly and energy-saving technologies and product innovation; improving sustainability across products’ full life cycle over the next five years; expanding the use of environmentally friendly materials; reducing the carbon footprint of finished vehicles; and achieving carbon neutrality at key plants. Geely also said it plans to support hundreds of partner companies in developing carbon-reduction road maps through green procurement and technology sharing. “Today, ESG has become a standard for evaluating the global competitiveness of automakers, so it is meaningful that Geely Auto Group has been certified for sustainability by S&P Global,” a company official said. “We will continue ESG management across various areas through eco-friendly electrified brands such as Zeekr.”* This article has been translated by AI. 2026-03-11 09:54:07
  • Celltrion launches Remsima liquid formulation in Europe, wins Nordic tenders
    Celltrion launches Remsima liquid formulation in Europe, wins Nordic tenders SEOUL, March 11 (AJP) - South Korean biosimilar giant Celltrion announced Wednesday it has launched a liquid formulation of its flagship infliximab treatment Remsima IV in Europe, securing government tender contracts in Denmark and Norway in an early push to tighten its grip on the continent's infliximab market. The new formulation, which received European Commission approval in November, is the world's only liquid version of intravenous infliximab. Available in 100 mg and 350 mg vials, it eliminates the reconstitution step required for conventional freeze-dried preparations, cutting drug preparation time by about 50 percent and reducing associated labor and supply costs by about 20 percent. Celltrion's Nordic subsidiary kicked off sales in Norway immediately after winning the national tender and will supply the product through January 2028. The company said it expects to capture about 35 percent of Norway's intravenous infliximab market through the contract. Storage space requirements for the liquid formulation are also up to 70 percent smaller than those for the powder version, an advantage that Celltrion said resonated with European hospital procurement officials. The rollout marks the latest step in Celltrion's drive to build what it calls a full lineup of infliximab delivery options spanning intravenous powder, intravenous liquid and subcutaneous formulations. The company has filed patents on the liquid formulation and completed registrations in major European markets including Britain, Germany and France. Remsima's combined IV and subcutaneous product lines held a 68 percent share of European infliximab prescriptions as of the third quarter of 2025, according to data firm IQVIA. Celltrion said it plans to extend the liquid formulation's commercial reach to France, the Netherlands and the Czech Republic later this year. "The liquid formulation has proved its competitiveness by winning tenders immediately after launch," said Baek Seung-du, regional manager of Celltrion's Nordic affiliate. "We will continue field-driven sales and marketing efforts to broaden prescriptions and offer better options to European patients and clinicians." 2026-03-11 09:50:10
  • North Korea says it respects Irans choice of new leader
    North Korea says it 'respects' Iran's choice of new leader SEOUL, March 11 (AJP) - North Korea said on Wednesday it "respects" the election of Iran's new leader Mojtaba Khamenei, who was named to succeed after his father was killed in U.S.-Israeli airstrikes early this month. According to the state-run Korean Central News Agency (KCNA), the country's Foreign Ministry said in a question-and-answer session the previous day that it "respects the rights and choice of the Iranian people to elect their supreme leader." Mojtaba, widely regarded as a hard‑liner, is the second-eldest son of late former leader Ali Khamenei, who ruled Iran with an iron fist for decades. Iranian clerics chose him despite prior warnings from the U.S. and Israel, a decision widely seen as a message that Iran will not yield to external pressure. "We express serious concern over and strongly denounce the acts of aggression by the U.S. and Israel that are destroying the regional peace and security foundations and escalating instability worldwide by mounting illegal military attack on Iran," the ministry fumed. "U.S. and its vassal forces are getting undisguised in their intervention into the internal affairs of Iran over the recent election of its new leader of the Islamic Revolution," it added, though it did not directly denounce U.S. President Donald Trump. Since establishing diplomatic ties in 1973, North Korea and Iran are believed to have begun cooperating on missiles and other weapons technology in the 1980s, when Iran turned to Pyongyang for help developing its missile capabilities during its war with Iraq. 2026-03-11 09:38:21
  • POSCO Future M CEO says LFP cathode mass production to start this year, targeting EV slowdown
    POSCO Future M CEO says LFP cathode mass production to start this year, targeting EV slowdown Eom Gi-cheon, CEO of POSCO Future M, outlined the company’s LFP (lithium iron phosphate) cathode material plans on March 11, speaking with reporters ahead of the opening of InterBattery 2026. “Major domestic battery materials companies plan to roll out mass-produced LFP cathode products within this year,” Eom said. He said POSCO Future M will complete its production line by July or August, go through certification in the third quarter, and supply mass-produced products to domestic customers by year’s end. Eom said battery makers’ utilization rates have fallen as growth in the electric vehicle market has slowed. But he said demand is shifting as markets such as energy storage systems and AI data centers “are opening up on a larger scale than EVs.” Eom also voiced confidence that solid-state battery technology could help South Korea’s battery industry overtake China. “Solid-state batteries are a next-generation technology that can allow Korea’s battery industry to surpass China in the future,” he said. He added that the company has made an equity investment in solid-state battery startup Factorial, and said POSCO Future M’s cathode materials could potentially be used in solid-state batteries for supercars. As chairman of the Korea Battery Industry Association, Eom stressed the need to strengthen competitiveness across the sector. “K-battery is facing a crisis due to global supply chain restructuring and the spread of protectionism,” he said. He said materials, parts and equipment companies will work as “one team” on technology development and process innovation, while coordinating closely with the government to boost competitiveness. Eom said Europe’s recently announced industrial acceleration policy and North American automakers’ strategies to build supply chains less dependent on China could create opportunities for South Korea’s battery industry. He said the industry will strengthen its global competitiveness based on technology, quality and reliability. The Korea Battery Association is holding InterBattery2026 from March 11 to 13 at COEX in Seoul. The exhibition theme is “Original Innovator, Creating the Future of Energy.”* This article has been translated by AI. 2026-03-11 09:37:36
  • Renault Group Targets 36 New Models by 2030, Pushes Electrification and Global Growth
    Renault Group Targets 36 New Models by 2030, Pushes Electrification and Global Growth Renault Group has laid out a mid- to long-term strategy targeting 36 new vehicle launches by 2030 and annual sales of 2 million units. The plan centers on accelerating the shift to electrification, led by electric and hybrid models, while expanding in global markets. Renault Korea said March 11 that the group announced the “Future Ready Plan” on March 10 local time at its headquarters in France. Built around key brands including Renault, Dacia and Alpine, the plan calls for 36 new models from this year through 2030. The group also set targets of a 5% to 7% operating profit margin and average annual cash flow of more than 1.5 billion euros, aiming to fund new-model development and electrification investment. Renault Group has been pursuing restructuring under its “Renaulution” strategy announced in 2021. The Future Ready Plan is seen as the next phase, moving more fully into electrification and global business expansion. The Renault brand aligned its priorities with the group plan around three drivers: strengthening its position in Europe, expanding electrification across its lineup, and boosting markets outside Europe. It set a goal of launching 26 new models by 2030 and selling more than 2 million vehicles a year across Europe and other markets. In Europe, Renault plans to introduce 12 new models by 2030, expanding electric and hybrid offerings not only in its core A and B segments but also in the C and D segments. Its electrification push will be led by both battery-electric vehicles and its E-Tech hybrid lineup. Renault said it will keep its hybrid lineup in Europe even after 2030. Renault also introduced a new RGEV Medium 2.0 platform aimed at the European C and D segment EV market. The modular architecture is designed to cover B-plus through D segments and support multiple body types. The company said it features extended driving range, an 800-volt architecture for ultra-fast charging, advanced technology and optimized efficiency. Renault said it aims to sell more than 2 million vehicles annually by 2030, with half of that volume coming from outside Europe. It added that it will maximize the potential of five global hubs: South Korea, India, Morocco, Turkey and Latin America. Under its International Game Plan 2027, Renault said it will add 14 new models in markets outside Europe by 2030, following five models already introduced: Kardian, Duster, Grand Koleos, Boreal and Filante. It also said it will continue developing vehicles tailored to market conditions by actively using strategic partnerships, including with Geely Group. 2026-03-11 09:36:00
  • LIG Nex1 Gives Elementary School Entry Gifts to Employees’ Children
    LIG Nex1 Gives Elementary School Entry Gifts to Employees’ Children LIG Nex1 said Wednesday it delivered congratulatory gifts to employees’ children who are entering elementary school this year. The program, launched in 2010 as part of the company’s family-friendly management efforts, has provided entry gifts to a total of about 2,000 children through this year. The company said it is meant to mark the milestone and show support for children’s growth. For about 150 children starting elementary school in early March, the company delivered a set of 27 school supplies focused on items schools typically ask students to bring, along with a congratulatory message from the CEO. In the message, CEO Shin Ik-hyun said, “Congratulations on entering elementary school, filled with excitement and anticipation,” adding that he hopes the children “can freely pursue your bright dreams, like your parents who keep our country safe.” One employee who received the gift said the set was made up of supplies the child needed for school and made the employee feel the company was paying close attention to its workers. LIG Nex1 said it also runs other programs to strengthen a family-friendly workplace culture, including a flexible start-time system, the L-Fresh leave program and Family Day. * This article has been translated by AI. 2026-03-11 09:33:31
  • Hyundai Motor Group Tops Volkswagen in Operating Profit, Ranks No. 2 Globally
    Hyundai Motor Group Tops Volkswagen in Operating Profit, Ranks No. 2 Globally Hyundai Motor Group posted last year’s operating profit high enough to overtake Germany’s Volkswagen Group, marking its first entry into the global top two automakers by profitability, industry data showed. Despite the impact of U.S. auto tariffs, the group was seen as protecting margins through steps such as adjusting local production volumes, diversifying markets and moving quickly to reduce inventories. According to the industry on Tuesday, Hyundai Motor Group — Hyundai Motor, Kia and Genesis — sold 7.27 million vehicles worldwide last year, ranking third in global sales behind Toyota Group (11.32 million) and Volkswagen Group (8.98 million). General Motors ranked fourth with 6.18 million vehicles, followed by Stellantis with 5.48 million. While Hyundai ranked third by volume, it moved up one place to No. 2 in profitability, surpassing Volkswagen. Toyota, the global sales leader, also ranked first in key financial indicators, reporting revenue of 50.4508 trillion yen (471.2 trillion won) and operating profit of 4.3128 trillion yen (40.2 trillion won). Because Toyota uses a different accounting basis, the figures combine the fourth quarter of fiscal 2024 and the first through third quarters of fiscal 2025. Hyundai Motor Group reported last year’s revenue at 300.3954 trillion won and operating profit at 20.5460 trillion won. That operating profit exceeded Volkswagen Group’s 8.9 billion euros (15.3 trillion won), the first time Hyundai’s annual operating profit has topped Volkswagen’s. Volkswagen reported revenue of 321.9 billion euros (551.9 trillion won) over the same period. GM reported revenue of $185.0 billion (272.2 trillion won) and adjusted operating profit of $12.7 billion (18.7 trillion won). Stellantis posted a loss of 840 million euros (1.4 trillion won). Hyundai’s operating margin, another profitability measure, was about 6.8%, ranking second globally behind Toyota’s 8.6%. Hyundai’s margin was more than double that of Volkswagen, at 2.8%. The data also showed Hyundai bore lower tariff costs than Toyota, even though Toyota’s U.S. auto tariff rate was reduced to 15% earlier than South Korea’s. Based on tariff-cost tallies released by the companies, Hyundai Motor Group paid a total of 7.2 trillion won in tariffs — 4.1 trillion won for Hyundai Motor and 3.1 trillion won for Kia. Toyota reported total tariff costs of 1.2 trillion yen (11.2 trillion won) last year. An industry official said most automakers were hit hard by U.S. auto tariffs, but Hyundai “sold less than Volkswagen while achieving a higher operating margin,” adding that the results showed Hyundai is no longer competing only on value for money.* This article has been translated by AI. 2026-03-11 09:09:17
  • Naver Pay Partners With Retail & Insight to Roll Out Npay Connect at 4,000 Supermarkets
    Naver Pay Partners With Retail & Insight to Roll Out Npay Connect at 4,000 Supermarkets Naver Pay said Wednesday it signed a business agreement with cloud-based retail tech company Retail & Insight to support digital innovation in South Korea’s retail distribution market. Under the agreement, the offline integrated payment terminal “Npay Connect” is set to be adopted as the standard device at about 4,000 small and midsize supermarkets nationwide that have merchant contracts with Retail & Insight. Retail & Insight provides integrated systems for neighborhood markets through its “Tomato Solution” platform, including cloud-based point-of-sale and enterprise resource planning tools, ordering and payment apps, smart flyers and kiosks. With Npay Connect, stores will be able to offer multiple payment options, including cash, cards, simple payments, NFC and Npay’s facial-recognition payment service, “Facesign.” Shoppers will be able to leave Naver reviews immediately after paying, and apply store discount coupons directly through Npay Connect. Starting this month, Npay Connect terminals will be installed in phases at neighborhood markets using Tomato Solution, and an on-site Npay payment promotion will be held at the same time. The two companies also said they will expand data-driven cooperation. Using Tomato Solution POS and ERP data along with Npay payment data, they plan to review financial support options aimed at helping neighborhood markets grow and explore benefits that use data analysis to improve customer experience. Lee Hyang-cheol, Npay’s Pay Service lead, said the agreement would help make Npay Connect “a turning point for innovating the payment ecosystem” in South Korea’s retail distribution market. He said the company will continue to strengthen digital competitiveness for small merchants and provide a more convenient experience for store visitors.* This article has been translated by AI. 2026-03-11 09:06:00
  • Innocean Breaks Into Ad Age’s 2026 A-List Top 10 in the U.S.
    Innocean Breaks Into Ad Age’s 2026 A-List Top 10 in the U.S. Hyundai Motor Group’s advertising agency Innocean has been named one of the top 10 marketing companies in the United States, the first South Korean ad company to make the list. Innocean said Wednesday that it was selected for the top 10 of the “2026 A-List” released by marketing trade publication Ad Age. The company called it its biggest achievement since establishing its U.S. subsidiary 18 years ago. Ad Age compiles the annual list by evaluating agencies active in the U.S. market on creative performance, business results and industry influence. Innocean attributed the recognition to capabilities built steadily by its U.S. unit. Founded in 2008, Innocean USA expanded its presence with creative work and brand experiences, including producing a Super Bowl ad in 2010, a first for a South Korean advertising company. Jeon Il-soo, Innocean’s head of global business and vice president leading the Americas regional headquarters, said the company has “consistently worked to recruit talented people, strengthen teamwork and build capabilities.” He said management efforts to broaden its client base and lay a foundation for sustainable growth were recognized by the industry. Innocean, marking its 21st anniversary this year, has also built its profile globally. It ranked No. 1 in a 2016 Super Bowl ad preference survey with the Genesis campaign “First Date,” the first time a non-U.S. company topped the survey, and it won the Cannes Lions Grand Prix for two consecutive years in 2025 before being named to the 2026 A-List. The company also reported solid business growth. Innocean USA posted 2025 revenue of $460 million, up 7.7% from a year earlier, ranking second in Southern California. Its clients include Hyundai, Kia, Genesis, Hankook Tire, chicken fast-food chain El Pollo Loco, hot dog restaurant chain Wienerschnitzel and Jinro USA. CEO Kim Jeong-a said the result “goes beyond the success of a single campaign” and reflects combined strength in creativity, business and organizational competitiveness. She said Innocean will further strengthen its position as a global partner by delivering measurable business results for clients through differentiated ideas and integrated marketing capabilities.* This article has been translated by AI. 2026-03-11 09:03:56
  • ENHYPEN’s Heeseung to leave group, pursue solo career, agency says
    ENHYPEN’s Heeseung to leave group, pursue solo career, agency says Heeseung of the K-pop group ENHYPEN is leaving the team to pursue a solo career. Belift Lab said on the fan platform Weverse on Monday that “Heeseung will become independent from ENHYPEN,” adding that the group will continue activities as six members starting with its upcoming official schedule. The agency said the members held in-depth talks about their individual futures and the group’s direction, and confirmed that Heeseung has a clear musical vision. “We decided to respect that,” it said, calling the move “a new opportunity” for both ENHYPEN and solo artist Heeseung. Heeseung also posted on Weverse, saying the past six years were “filled with moments so overwhelming and precious that I can’t put them into words.” “I had so much I wanted to show you, but I also didn’t want to put only my own desires first within the team,” he wrote. “I will prepare hard to meet you again as soon as possible.” ENHYPEN debuted through Mnet’s 2020 audition program “I-LAND” and released the mini-album “THE SIN : VANISH” in January. The group recently launched its “WALK THE LINE” world tour.* This article has been translated by AI. 2026-03-11 08:36:18