Journalist

Oh Joo-Seok
  • Hyundai Founder Chung Ju-yung Remembered at 25th Anniversary Memorial Concert in Seoul
    Hyundai Founder Chung Ju-yung Remembered at 25th Anniversary Memorial Concert in Seoul "My father in heaven will also be grateful." (Chung Mong-joon, chairman of the Asan Foundation) Members of the wider Hyundai founding family, along with figures from business, politics and culture, gathered in Seoul on Feb. 25 for a memorial concert marking the 25th anniversary of the death of Chung Ju-yung, honorary chairman of Hyundai Group. Around 6 p.m., the lobby of the Seoul Arts Center Concert Hall in Seocho-gu was already crowded ahead of the program. Hyundai family members began arriving about an hour before the concert. Chung Mong-joon, chairman of the Asan Foundation, arrived at the venue’s above-ground parking lot at about 6:36 p.m. and briefly greeted reporters. "Thank you for coming today," he said. "My father will also be grateful that you came." Direct family members also appeared in succession, including Chung Ki-sun, chairman of HD Hyundai; Chung Myung-yi, president of Hyundai Commercial; and Chung Tae-young, vice chairman of Hyundai Card. Other attendees included Lotte Group Chairman Shin Dong-bin; Hong Ra-hee, former director of the Leeum Museum of Art; National Assembly Speaker Woo Won-shik; Kim Jong-in, former emergency committee chairman of the People Power Party; and lawmaker Na Kyung-won. Actor Yoo Hae-jin was among those from the entertainment and cultural sector. Hyundai Motor Group Chairman Chung Euisun arrived about two hours before the concert to check the rehearsal and review preparations. Hyundai Motor CEO Jose Munoz, Hyundai Motor Group Vice Chairman Jang Jae-hoon, Hyundai Motor R&D chief Manfred Harrer and Hyundai Motor President Sung Kim also arrived early to welcome guests. The memorial concert featured performances by internationally known pianists Kim Sunwook, Sunwoo Yekwon, Cho Seong-jin and Lim Yunchan. Tickets were not sold; they were provided only to invited guests, including public-service workers, future talent, key figures from various fields and Hyundai Motor employees, organizers said, to preserve the event’s purpose. Attendees received a gift set that included Chung’s autobiography, "Born on This Land," and an event booklet. Organizers said the concert was held to reflect on the meaning of Chung’s entrepreneurial spirit for society and future generations. Chung is widely regarded as a symbol of Korean entrepreneurship, credited with helping lead the country’s industrialization through a bold vision and determination to maintain hope in the face of hardship. 2026-02-25 21:12:21
  • Imported EV Price War Intensifies in South Korea as Models Near 30 Million Won
    Imported EV Price War Intensifies in South Korea as Models Near 30 Million Won Imported electric-vehicle makers are accelerating their push in South Korea with price cuts and subsidy-focused strategies, aiming to bring more models into the 30 million won range that many consumers view as a key psychological threshold. Industry officials said Feb. 25 that Volvo Car Korea will cut the price of its electric SUV, the EX30, by as much as 7.61 million won starting next month. The base trim will fall to 39.91 million won from 47.52 million won. The discounting has spread among imported brands after Tesla opened the latest round of price cuts earlier this year. Tesla lowered the Model 3 Standard RWD to 41.99 million won. With a 1.68 million won national subsidy and local government subsidies, the purchase price could drop to the high 30 million won range, the report said. BMW, the top-selling imported-car brand in South Korea, is emphasizing a strategy tied to larger EV subsidies. By building more than 3,000 EV chargers nationwide, BMW raised its incentive used in the Transport Ministry’s EV subsidy calculation by 37% from a year earlier, the report said. As a result, the BMW Mini Aceman E, priced at 49.80 million won, can fall to 40.30 million won when combining a 4.00 million won national subsidy and a 5.50 million won local subsidy, based on Haenam in South Jeolla Province. Prices for imported EVs that had largely been in the 40 million to 50 million won range are now moving closer to the 30 million won level seen as a practical buying range for many consumers. The report attributed the aggressive push by imported brands to South Korea’s subsidy policy. As the United States and Europe slow the pace of EV adoption and brands face uncertainty in China, EV supply is shifting toward South Korea, it said. South Korea this year is offering EV subsidies and an additional 1 million won for switching from an internal-combustion vehicle to an EV. The structure of the imported-car market is also changing quickly. Of 307,377 imported vehicles sold last year, 91,253 were battery-electric vehicles, or 29.6%, the report said. Over the same period, sales of internal-combustion vehicles totaled 41,906. EV sales were more than double internal-combustion sales, underscoring a reshaping of the imported-car market. Kim Pil-su, a professor in the Department of Future Automobiles at Daelim University, said the trend toward lower prices is clear. “It’s evident that the trend is to lower prices so consumers can access them more easily,” Kim said. He added that shifting batteries — a major share of EV costs — to Chinese-made LFP batteries appears to have created some room for price cuts. * This article has been translated by AI. 2026-02-25 18:04:50
  • GM Korea Union Appeals Court Rejection of Bid to Block Service Center Closures
    GM Korea Union Appeals Court Rejection of Bid to Block Service Center Closures GM Korea’s labor union said Tuesday it will appeal a court decision rejecting its request for an injunction to block the shutdown of the automaker’s company-run service centers. The GM Korea branch of the Korean Metal Workers’ Union said it submitted an appeal to the Incheon District Court. The Incheon court on Feb. 13 dismissed the union’s injunction request seeking to prohibit the closure of the direct-run service operations. The court said matters related to organizational restructuring generally fall within management rights and are afforded broad discretion. It also found that ending service center operations was conditioned on labor-management “consultation,” not “agreement.” The union argued that management itself formed bodies such as a task force to revitalize direct-run service centers and a special committee on job security on the premise that closures would require agreement between labor and management or, at minimum, substantial discussions. It said the court misread the collective bargaining agreement by focusing on wording while overlooking how the agreement was reached. The union also said a full shutdown would raise concerns about vehicle safety, consumer rights and damage to brand trust, and that the business need was unclear given GM Korea’s solid financial structure. It said the court broadly accepted management discretion while effectively avoiding a judgment on the legality of what it called an expected large-scale forced reassignment of service workers. A union official said that after the first meeting of a special labor-management consultative body last month to seek withdrawal of the closure plan, the union delivered a proposal following internal discussions. The official said management has repeated for more than a month that it is still reviewing the proposal, calling it closer to delaying a decision than holding talks to resolve the issue.* This article has been translated by AI. 2026-02-25 15:51:16
  • Jeju Air to Add Four Daily Round Trips on Gimpo-Jeju Route, Raising Total to 26
    Jeju Air to Add Four Daily Round Trips on Gimpo-Jeju Route, Raising Total to 26 Jeju Air said Tuesday it will add four daily round-trip flights on the Gimpo-Jeju route starting March 29, when its summer schedule begins. With the increase, the carrier will operate up to 26 round trips a day on the route, up from a maximum of 22 scheduled round trips. Jeju Air said that is the highest number of flights among airlines serving the Gimpo-Jeju corridor. The added service will bring Jeju Air’s frequency to about two flights an hour on the route and increase capacity by about 1,500 seats a day, round-trip basis. According to the Transport Ministry’s aviation information portal, about 2,514,500 passengers flew Jeju Air on the Gimpo-Jeju route last year. That accounted for 16.9% of the route’s total 14,835,900 passengers and was the largest share among low-cost carriers. In January, Jeju Air carried about 227,400 passengers on the route, the most among low-cost carriers, up 38.6% from about 164,100 a year earlier. “We are continuing to expand air service so Jeju residents and travelers visiting Jeju can move more conveniently between Jeju and Gimpo at the times they want,” a Jeju Air official said.* This article has been translated by AI. 2026-02-25 10:45:17
  • LIG Nex1 to Unveil AI-Powered Swarming Kamikaze Drone at DSK 2026
    LIG Nex1 to Unveil AI-Powered Swarming Kamikaze Drone at DSK 2026 LIG Nex1 said it will showcase an integrated unmanned aircraft solution spanning kamikaze, reconnaissance and transport drones at Drone Show Korea DSK 2026, being held for three days through the 27th at BEXCO in Busan. At the exhibition, the company is unveiling for the first time an artificial intelligence-based small kamikaze drone. Developed with the Agency for Defense Development, the model can be operated in swarms and uses a canister-launch, multiple-launch method. LIG Nex1 is also displaying its Medium-sized Unmanned Aerial Vehicle Common Platform (MCUP), a hybrid transport drone with a 40-kilogram payload, a small reconnaissance-and-strike combined drone (MPD), and an “integrated avionics system” tailored to advanced air vehicles (AAV) expected to be used in future urban air mobility. A company official said, “Based on our advanced capabilities ranging from surveillance and reconnaissance to strike and transport solutions, we will help accelerate the completion of an advanced science and technology force built on manned-unmanned teaming.”* This article has been translated by AI. 2026-02-25 10:28:55
  • KAMA Names Jeong Dae-jin as New Chairman
    KAMA Names Jeong Dae-jin as New Chairman Korea Automobile & Mobility Association (KAMA) said Jeong Dae-jin, a former deputy minister for trade at the Ministry of Trade, Industry and Energy, was elected its 19th chairman at a regular general meeting held on the 25th. Jeong entered public service after passing the 37th national civil service exam and held key posts across the former Ministry of Commerce, Industry and Energy, the former Ministry of Knowledge Economy and the current trade and industry ministry, working in industrial policy, investment promotion and the creative industries, the association said. He also served as director general for trade policy and as deputy minister for trade, overseeing major external trade issues affecting South Korea’s leading industries, it said. KAMA said Jeong is well suited to lead the association as protectionist policies in the United States and the European Union and shifting trade regulations reshape the global environment. The association added it expects his leadership to pursue both continuity and innovation in its operations, strengthening the competitiveness of South Korea’s auto industry and supporting its transition to future mobility. Jeong is scheduled to hold an inauguration ceremony on March 3 and begin his official duties as the 19th chairman.* This article has been translated by AI. 2026-02-25 10:06:08
  • Parata Air Expands Air Cargo to Diversify Revenue
    Parata Air Expands Air Cargo to Diversify Revenue Parata Air is accelerating efforts to diversify its business portfolio by operating an air cargo business alongside its international passenger service. According to international air cargo data released Tuesday by the Korea Airports Corp., Parata Air carried 228 tons of cargo in the first week of this month. Volumes have climbed steadily, from 113 tons in the third week of last month to 168 tons in the fourth week and 202 tons in the fifth week. The airline has pursued the strategy since last year, expanding passenger routes while increasing use of belly cargo space on passenger aircraft. Focusing on Japan and Southeast Asia routes, it has sought e-commerce shipments and demand for transporting fresh foods, gradually building its cargo revenue base. A Parata Air official said the carrier has maintained stable load factors in the passenger segment during the January peak season while also raising cargo load rates by optimizing flight schedules. Passenger and cargo operations complement each other, the official said, strengthening revenue stability.* This article has been translated by AI. 2026-02-25 09:51:15
  • Chaebi’s ultrafast EV charger wins 2026 iF Design Award
    Chaebi’s ultrafast EV charger wins 2026 iF Design Award Chaebi, a South Korean operator of fast-charging infrastructure for electric vehicles, said Tuesday that its ultrafast charging platform, Chaebi MCS, won a main prize in the product design category at Germany’s iF Design Award 2026. It marks the company’s second major global design award after its Chaebi Megastation won a main prize at the Red Dot Design Award in 2024. Chaebi MCS is an ultrafast charger offered in two models, 1 megawatt and 2 megawatts. It features a slim form factor up to 2,000 millimeters tall and a modular stack structure that allows the cabinet to be expanded as needed. The company said the design emphasizes simplicity while improving functional completeness. The exterior uses stainless steel to boost durability and a premium look. Chaebi said the platform was developed with the goal of enabling a full charge in under five minutes and is aimed at growing demand for electrification in large commercial vehicles and logistics. Chief Executive Choi Young-hoon said the award was meaningful recognition of Chaebi’s integrated approach to charging technology and design.* This article has been translated by AI. 2026-02-25 09:33:16
  • Korean Air to Showcase AI-Powered Next-Generation Drones at DSK 2026
    Korean Air to Showcase AI-Powered Next-Generation Drones at DSK 2026 Korean Air said Tuesday it is taking part in Drone Show Korea (DSK) 2026, running through Feb. 27 at BEXCO in Busan, to present its vision for AI-based next-generation unmanned aircraft and its capabilities in advanced air mobility (AAM) technology. DSK is Asia’s largest drone-focused exhibition, hosted by the Ministry of Trade, Industry and Energy; the Ministry of Land, Infrastructure and Transport; the Ministry of National Defense; the Korea Aerospace Administration; and the city of Busan. This year’s event centers on unmanned aircraft technology and includes companies in aerospace, defense, carbon neutrality and geospatial information, as well as firms with AI-based convergence technologies. Participating countries increased to 23 from 15. Korean Air said it set up a large, two-story booth to improve visitor flow. The first floor includes an exhibition area and meeting rooms for viewing and discussions, while the second floor is a lounge intended to support networking. In the drone zone, the company will show for the first time in South Korea a physical-AI subsonic unmanned aircraft it is developing with U.S. AI defense company Anduril Industries. Also on display are an AI small multipurpose unmanned aircraft, a small strike unmanned aircraft, a communications relay drone, swarm-flight drone technology, and aircraft maintenance, repair and overhaul (MRO) based on swarm-flight drone technology. In the AAM zone, Korean Air will present its in-house AAM traffic management and operations control system, ACROSS, along with a mock-up aircraft from Archer Aviation, a U.S. urban air mobility company that signed an AAM development cooperation memorandum of understanding with Korean Air last year. Korean Air said it will also hold cooperation events alongside the exhibition, starting with an unmanned aircraft technology seminar Tuesday to introduce its capabilities and business roadmap. It plans an AAM technology seminar co-hosted with Archer on Wednesday and is planning MOUs with global AAM companies. “This DSK participation is a good opportunity to inform the broader industry about Korean Air’s AI software-based unmanned aircraft capabilities, which are currently a key production focus, and the latest technologies related to next-generation air mobility,” a company official said. “Korean Air will continue taking on challenges across various fields to grow into a world-class integrated aerospace company.” 2026-02-25 09:15:45
  • Kia Georgia Plant Tops 5 Million Vehicles, Starts Production of 2027 Telluride Hybrid
    Kia Georgia Plant Tops 5 Million Vehicles, Starts Production of 2027 Telluride Hybrid Kia’s Georgia manufacturing unit has surpassed 5 million vehicles in cumulative production 17 years after it was established, the company said. It is also ramping up production of a hybrid version of the all-new Telluride, a key model in North America. Kia said the Georgia plant reached the 5 million mark as of Feb. 24 local time. The milestone vehicle was the 2027 model-year all-new Telluride hybrid, Kia’s first hybrid vehicle produced in Georgia. A ceremony was held with Georgia Gov. Brian Kemp, local government officials, community leaders and employees attending. The Georgia operation began production in 2009 and has grown into a major local employer and a core manufacturing base for the auto industry in the U.S. Southeast. The Telluride built at the West Point plant is a strategic model developed around North American consumer demand and U.S. driving conditions, Kia said, calling it a symbol of the brand’s growth in the U.S. market. The first-generation Telluride won major awards in 2020, including North American Car of the Year, World Car of the Year and MotorTrend SUV of the Year, helping raise the brand’s profile in North America. “Kia Georgia is the only plant in the world that produces the Telluride, and this production start carries meaning beyond the rollout of a new vehicle,” said Yoon Seung-kyu, head of Kia’s North America regional headquarters and CEO of its U.S. sales unit. Kemp said the Telluride has been produced only in Georgia since its 2019 launch and has become one of Kia’s most successful models. “This achievement is the result of a close partnership with the community and the state government,” he said. Stuart Countess, head of Kia’s Georgia manufacturing unit, said the 5 million milestone reflects employees’ dedication and teamwork. He said the plant’s flexibility and technical capabilities were proven again as it adds hybrid production alongside internal combustion and electric vehicles.* This article has been translated by AI. 2026-02-25 08:54:20