Journalist

Oh Joo-seok
  • Chabot Mobility Named to FT-Statista Asia-Pacific High-Growth List for Third Straight Year
    Chabot Mobility Named to FT-Statista Asia-Pacific High-Growth List for Third Straight Year Mobility platform company Chabot Mobility said Tuesday it was named for a third consecutive year to the “2026 Asia-Pacific High-Growth Companies” list jointly compiled by the Financial Times and global research firm Statista. Now in its eighth edition, the annual ranking selects 500 companies across 14 Asia-Pacific countries based on high compound annual revenue growth. The list is widely watched as a gauge of growth momentum among startups and technology firms because it emphasizes revenue performance rather than company size or brand recognition. The latest assessment was based on revenue growth from 2021 to 2024. Chabot Mobility ranked No. 237 among the 500 companies. In the IT and software category, which accounts for about 21% of the list, it placed No. 42. Among South Korean companies, which make up about 15% of the total list with 79 firms, Chabot Mobility ranked No. 59. It placed No. 15 in South Korea’s IT and software category, the company said. Founded in 2016, Chabot Mobility said it has expanded from new-car quote comparisons into auto finance brokerage, direct insurance and vehicle management services, linking drivers’ needs across the vehicle life cycle on a single platform. It reported cumulative transaction volume of about 1.4 trillion won and 1.7 million cumulative users, and said it has built a nationwide network of about 32,000 auto dealers. The company said it completed a Series C funding round in 2024, bringing cumulative investment to about 25.6 billion won. It said it is also pursuing additional pre-IPO funding to support expansion into the United States, Japan and Mongolia and to build a foundation for an initial public offering. Chief Executive Officer Kang Seong-geun said the third straight selection reflects global recognition of the market competitiveness and growth momentum of Chabot’s auto-commerce platform. He said the company will further advance its data-driven mobility platform connecting vehicle purchases and management and pursue meaningful growth beyond Asia in global markets.* This article has been translated by AI. 2026-03-18 10:33:17
  • Eastar Jet Expands Co-Marketing With Doosan Bears to Reach Younger Baseball Fans
    Eastar Jet Expands Co-Marketing With Doosan Bears to Reach Younger Baseball Fans Eastar Jet said Tuesday it will continue co-marketing with KBO team the Doosan Bears. The airline and the Bears have expanded their brand collaboration for a third straight year since signing a “strategic business agreement for joint marketing” at Jamsil Baseball Stadium in August 2024. Under the agreement, Eastar Jet provides prizes such as airline tickets for events aimed at fans attending the Bears’ home games, while the Bears support promotion of the carrier through advertising placements at Jamsil. With the start of the 2026 KBO League regular season, the partners will roll out additional promotions, including a ticket giveaway tied to the in-stadium cheering event known as “Bravo Time.” Eastar Jet will also hold an “Eastar Jet Brand Day” event next month. “We decided to continue joint marketing with the Doosan Bears this year as well to communicate more closely with pro baseball fans,” an Eastar Jet official said.* This article has been translated by AI. 2026-03-18 09:12:51
  • Porsche Korea Opens First Official Showroom in Jeju
    Porsche Korea Opens First Official Showroom in Jeju Porsche Korea said Tuesday it has opened Porsche Center Jeju, an official showroom for the Jeju region. The center opened Monday, marking the first official Porsche showroom on Jeju since the company operated the “Porsche Now Jeju” pop-up store in 2021. It will be run by Porsche Korea’s authorized dealer, Deutsche Auto. Porsche Center Jeju spans 3,944.54 square meters (about 1,193 pyeong) from one basement level to three stories above ground. The company said the facility features an interior concept using basalt stone and a space design reflecting Jeju’s local character. Customers can receive one-stop service on site, from consultation and test drives to contracts and vehicle delivery. The center includes 15 work bays and charging equipment, and will provide integrated services ranging from routine maintenance to accident repairs, including bodywork and painting. “Based on a value-driven growth strategy with a long-term perspective, Porsche continues to expand the brand experience nationwide,” Porsche Korea CEO Mathias Busse said. “Through Porsche Center Jeju, the first official hub in the Jeju region, we will provide the expertise and differentiated service expected of a premium brand.” Bae Hyun-seok, CEO of Deutsche Auto, said the company will offer a brand experience that fits with Jeju’s natural environment while improving service and convenience for customers.* This article has been translated by AI. 2026-03-18 08:57:18
  • Korean Air Extends Incheon-Dubai Flight Cancellations Through April 19
    Korean Air Extends Incheon-Dubai Flight Cancellations Through April 19 Korean Air said Tuesday it has extended cancellations on its Incheon-to-Dubai route through April 19. The airline took emergency turnaround and cancellation measures for flights KE951 and KE952 starting Feb. 28 after the outbreak of war in the Middle East. Before the airstrikes on Iran, Korean Air was the only South Korean carrier operating a Middle East route, flying round-trip to Dubai seven times a week. The suspension had been set to run through March 5, but cancellations have continued as the conflict persists. Whether service will resume April 20 will be decided later depending on conditions at local airports. A Korean Air official said the extension was due to airspace restrictions tied to the war involving the United States, Israel and Iran.* This article has been translated by AI. 2026-03-17 17:24:14
  • Hanwha Aerospace Buys Nearly 5% Stake in KAI, Deepening Defense Ties
    Hanwha Aerospace Buys Nearly 5% Stake in KAI, Deepening Defense Ties Hanwha Group’s move to secure nearly 5% of Korea Aerospace Industries (KAI) is drawing attention in the defense industry, as it could strengthen Hanwha’s position in fighter-jet production through closer cooperation with the aircraft maker. Industry officials said Tuesday that Hanwha Aerospace recently bought a 4.41% stake in KAI. Combined with the 0.58% held by Hanwha Systems, the group’s total stake stands at 4.99%. It marks Hanwha Aerospace’s first KAI share purchase in about seven years, after it sold its entire 5.99% stake in 2018. The purchase makes Hanwha Group KAI’s fourth-largest shareholder. The Export-Import Bank of Korea is KAI’s largest shareholder with a 26.41% stake. Hanwha Aerospace said the investment is intended to “expand cooperation in the aerospace business based on a mid- to long-term strategic partnership and strengthen global export competitiveness.” In South Korea’s defense sector, companies have increasingly pursued joint bids in which a prime contractor signs an export deal and participating firms share the proceeds. A key example is the KF-21 fighter jet, scheduled to be delivered to the Air Force starting in the second half of this year. KAI produces the airframe, while Hanwha Aerospace supplies the engine. Last month, Hanwha and KAI signed an agreement on joint cooperation in future core businesses to boost the global competitiveness of South Korea’s defense industry, and said they would expand that collaboration. Inside KAI, expectations for growth have risen as the company moves toward greater management stability. At an extraordinary shareholders meeting on March 18, shareholders will decide whether to appoint Kim Jong-chul, a former director at the Defense Acquisition Program Administration’s Defense Technology Protection Bureau, as CEO. Some observers say a management vacuum that has lasted for years is entering a resolution phase. Hanwha has expanded its defense footprint through acquisitions, leaving open the possibility of further KAI share purchases. In 2022, Hanwha secured a 49.3% stake in Daewoo Shipbuilding & Marine Engineering and reorganized it as Hanwha Ocean. Some analysts, however, say Hanwha’s recent expansion could limit the scope for a rapid increase in its KAI stake. At KAI, the labor union has expressed mixed views, citing expectations for business expansion if the company is brought under a large conglomerate, while also warning of potential conflict during any push toward privatization. “This stake purchase is more of a strategic investment to strengthen cooperation than a move to take management control,” one industry official said. “Depending on whether additional shares are bought, the direction of the relationship could change.”* This article has been translated by AI. 2026-03-17 17:10:13
  • Thinkware Launches Caltrwin KX and KR Window Tint Film Lineup
    Thinkware Launches Caltrwin KX and KR Window Tint Film Lineup Thinkware said March 17 that its automotive tint brand Caltrwin is launching two new window film lines, KX and KR. The new lineup consists of a reflective type and a nonreflective type, aimed at improving both driving visibility and heat-blocking performance. The reflective KR film is a metal-based product made with a high-purity sputtering process, the company said. It is offered in visible light transmission (VLT) grades of 11% and 27%, with infrared rejection (IRR) of up to 85% and total solar energy rejection (TSER) of 64%. The nonreflective KX film uses nano-ceramic technology based on polymer fusion coating to deliver high clarity and stable heat blocking, Thinkware said. It is available in VLT grades of 6%, 12% and 34%, with IRR of up to 90% and TSER of up to 68%, which the company said can help keep the cabin comfortable in strong sunlight. Caltrwin also offers after-sales service. Customers who have the film installed at an official Caltrwin shop will receive a manufacturer warranty certificate, and the company provides a seven-year quality warranty for issues such as cracking, fading and discoloration. A Thinkware official said the new KX and KR lines focus on core tint performance, including visibility and heat blocking, and are expected to be a good option for customers seeking verified performance at a reasonable price. To mark the launch, Thinkware said it will run a first-come, first-served review event through April 12. The first 10 customers to post an installation review online will receive a premium car wash voucher worth 100,000 won.* This article has been translated by AI. 2026-03-17 09:21:17
  • RideFlux Releases Video of Fully Hands-Off Autonomous Truck Hauling 11 Tons
    RideFlux Releases Video of Fully Hands-Off Autonomous Truck Hauling 11 Tons RideFlux, an autonomous-driving software startup, said Tuesday it has released video showing a heavy-duty self-driving truck carrying 11 tons of cargo completing a long-distance route between Seoul and Jincheon, North Chungcheong province, without any intervention by a safety operator. The footage highlights a key result from RideFlux’s middle-mile autonomous freight transport service, which the company has been piloting since October last year. RideFlux’s autonomous truck regularly runs a 224-kilometer (139-mile) round trip from the Southeast Logistics Complex in Songpa-gu, Seoul, to a logistics center in Jincheon while loaded with 11 tons of cargo. The video covers the full one-way trip, showing the truck navigating highways and congested city streets, including signalized intersections and roundabouts, without a single manual input. RideFlux said the run demonstrates “hub-to-hub” freight transport that extends beyond highway-only autonomous trucking to complex urban roads. The company said it is the only firm in South Korea holding a temporary permit for a large freight truck to operate autonomously on city streets. RideFlux said it plans to launch full freight service on the Seoul Songpa-Jincheon route once it secures a paid-transport permit in the first half of this year. It also plans to start service later this year on the Gunsan Port-Jeonju-Daejeon route and in Gangneung. “This video is a visible result showing how advanced unmanned technology is being implemented stably in real logistics operations,” CEO Park Jung-hee said.* This article has been translated by AI. 2026-03-17 09:00:58
  • Hyundai Motor, Kia expand Nvidia partnership for autonomous driving tech
    Hyundai Motor, Kia expand Nvidia partnership for autonomous driving tech Hyundai Motor and Kia have joined hands with Nvidia to cooperate on autonomous mobility technology, with Nvidia capabilities set to be used in Hyundai vehicles offering Level 2 or higher automated driving. Industry officials said the expanded cooperation follows a recent meeting between Hyundai Motor Chairman Chung Euisun and Nvidia CEO Jensen Huang, and now extends to autonomous driving, a key future growth area for automakers. According to the industry on March 17, the two sides began jointly developing next-generation autonomous driving solutions on March 16 (local time), combining Hyundai Motor and Kia’s in-house software-defined vehicle, or SDV, capabilities with Nvidia’s autonomous driving technology. Hyundai Motor and Kia, which are developing SDVs based on their quality and safety philosophy, plan to apply some of Nvidia’s Level 2-plus autonomous driving technology first to select models. Hyundai Motor said it will use Nvidia’s autonomous driving integrated architecture, “Drive Hyperion,” to build its own solution that can scale from Level 2 to Level 4. Nvidia Hyperion is a reference architecture that bundles hardware essential for autonomous driving, including high-performance central processing units, graphics processing units, sensors and cameras. It is designed to integrate platforms across vehicle models. Hyundai Motor plans to make active use of Nvidia’s broad data and AI technologies, while integrating data gathered across the group into a single training pipeline. Hyundai Motor Group said adopting Hyperion will help it build a virtuous data cycle spanning data collection — including video, language and behavior — AI training and performance improvements, deployment in real vehicles, and upgrades in data quality. The group also said it will step up wide-ranging talks centered on its U.S.-based autonomous driving joint venture, Motional, to advance Level 4 robotaxi technology, while strengthening competitiveness in technology and services. The company said combining a standardized architecture with Hyundai Motor Group’s accumulated experience as a global top-three automaker would enable it to develop an optimized SDV architecture in-house. Over the longer term, the group expects its autonomous driving competitiveness to improve as high-performance AI collects, learns from and structures high-quality real-world road data on its own. The cooperation is also tied to the Chung-Huang meeting, the company said. Hyundai Motor plans to allocate some of the 50,000 Blackwell GPUs it is set to receive from Nvidia to Saemangeum in North Jeolla Province for use in developing autonomous vehicles and an AI data center. Kim Heung-soo, vice president in charge of Hyundai Motor Group’s global strategy organization, said, “Expanding the partnership with Nvidia will be an important momentum for realizing the safe and reliable autonomous driving technology Hyundai Motor Group is pursuing.” He added, “Based on a one-team collaboration system across the group, we will secure differentiated technological competitiveness from Level 2-plus autonomous driving technology to Level 4 robotaxi services.” Rishi Dhall, vice president of Nvidia’s automotive division, said, “By combining Hyundai Motor Group’s vehicle engineering capabilities with Nvidia’s computing and AI technology, we are building safe and intelligent autonomous driving systems.” He added, “We will continue collaboration between the two companies from Level 2-plus advanced driver assistance features to robotaxis.” 2026-03-17 08:18:26
  • Kakao Mobility Launches Late-Night Self-Driving Taxi Service in Seoul’s Gangnam
    Kakao Mobility Launches Late-Night Self-Driving Taxi Service in Seoul’s Gangnam Self-driving late-night taxis have begun service in Seoul’s Gangnam area, widening the rollout of autonomous mobility services beyond buses. As commercialization advances mainly through public transportation, Hyundai Motor Co., which has said it will develop independent autonomous driving technology next year, is increasingly seen as facing a major test this year. According to industry officials on the 16th, Kakao Mobility began operating a self-driving taxi service in parts of Gangnam starting that day. The late-night service uses Kia EV6 vehicles, but the autonomous driving system is Kakao Mobility’s in-house “AI Planner.” The company said it has built end-to-end (E2E) autonomous driving technology that allows AI to perceive and make decisions, based on complex urban driving data collected in areas such as Pangyo and Gangnam. The taxis operate in a designated autonomous driving pilot zone on weekdays from 10 p.m. to 5 a.m. the next day. In South Korea, autonomous driving is expanding largely through public transportation. Companies such as Autonomous A2Z and RideFlux have worked with local governments in Seoul, Busan and Daegu to deploy autonomous solutions and build real-world testing experience. Hyundai Motor was selected for the Ministry of Land, Infrastructure and Transport’s “K-Autonomous Driving Cooperation Model” project and plans to deploy 200 Ioniq 5-based self-driving vehicles in phases in Gwangju starting in the second half of this year. Motional, Hyundai Motor’s autonomous driving joint venture, is pushing to fully commercialize unmanned robotaxis in Las Vegas by year’s end. Interest is also growing in autonomous features for privately owned vehicles. A survey last month by Chabot Mobility of 450 prospective new-car buyers found 76.5% were interested in subscribing to autonomous driving functions. Tesla and General Motors have introduced autonomous driving features in South Korea, but broader adoption remains limited. Hyundai Motor last year said it would use its autonomous driving technology “Atria AI” to deliver Level 2+ capabilities comparable to Tesla’s FSD (Full Self-Driving) by 2027. Hyundai Motor autonomous driving affiliate 42dot has been developing an E2E model based on cameras and radar and began large-scale hiring in January. Still, profitability remains uncertain given heavy investment. 42dot posted an operating loss of 349.7 billion won last year, about doubling the size of its loss from a year earlier. Motional, which is responsible for the robotaxi business, also faces continued large investment burdens until commercialization. Attention is focused on whether Park Min-woo, recently appointed CEO of 42dot and head of Hyundai Motor’s Advanced Vehicle Platform (AVP) division, can shift the momentum. A Hyundai Motor official said, “The direction of the autonomous driving business could be flexible depending on the new CEO’s perspective,” adding, “There is a possibility that a concrete plan related to autonomous driving will be presented at this year’s investor day.” 2026-03-16 18:21:20
  • Hanwha Group Buys Additional 4.99% Stake in Korea Aerospace Industries
    Hanwha Group Buys Additional 4.99% Stake in Korea Aerospace Industries Hanwha Group has increased its stake in rival Korea Aerospace Industries (KAI). Hanwha Aerospace said in an audit report on the 16th that it bought 4,864,000 KAI common shares, equal to 4.99%. The company purchased 3,236,635 shares last year and added 1,627,365 shares in the first quarter this year. Hanwha Systems previously said in a business report filed on the 13th that it bought 566,635 KAI common shares — 0.58% of the company’s total shares — for 59.9 billion won in November last year. Hanwha framed the additional purchase as aimed at potential synergy between the companies. Hanwha and KAI work together on programs including South Korea’s KF-21 fighter project: KAI builds the aircraft and Hanwha Aerospace produces the engines used in the jets. The companies also compete in bidding for a space project involving a small-satellite system. A Hanwha Aerospace official said the company expects to expand “mutual synergy” tied to defense exports and said it also expects the move to contribute to cooperation with partner firms and job creation in South Gyeongsang Province, where both companies have bases.* This article has been translated by AI. 2026-03-16 17:48:05