Journalist

Oh Joo-seok
  • Tariff Refunds, USMCA Review Roil U.S. Auto Market; Hyundai’s Response in Focus
    Tariff Refunds, USMCA Review Roil U.S. Auto Market; Hyundai’s Response in Focus A U.S. Supreme Court ruling has set tariff refund procedures in motion, signaling shifts in profit expectations for U.S. automakers. For foreign brands operating in the United States, uncertainty is growing as the U.S.-Mexico-Canada Agreement, or USMCA, heads toward a scheduled review. Attention is also on how Hyundai Motor Group, which has been posting strong U.S. results, will respond. Industry officials said April 30 that General Motors expects about $500 million (about 740 billion won) in tariff refunds for the first quarter following the Supreme Court’s decision that reciprocal tariffs were illegal. In its 2026 first-quarter earnings report, GM raised its forecast for adjusted earnings before interest and taxes this year to $13.5 billion to $15.5 billion, from $13 billion to $15 billion. The ruling found unlawful the broad tariffs President Donald Trump imposed under the International Emergency Economic Powers Act, or IEEPA. Ford is also reported to have reflected the impact of tariff refunds totaling about $1.3 billion paid over the past year. Despite those moves by U.S. automakers, other foreign automakers are taking a cautious stance, with tariff-related risks seen widening. Trump has added to uncertainty by raising the possibility of scrapping the USMCA or shifting to separate agreements with Canada and Mexico during the pact’s scheduled review in July. Since the launch of the second Trump administration, vehicles produced in Mexico and Canada have faced a 25% tariff depending on the share of non-U.S. parts. If remaining tariff benefits are removed, companies operating locally would face an unavoidable hit. Hyundai, Toyota and Nissan have responded by considering pulling low-priced models. Even with political uncertainty in the U.S. market, Hyundai Motor Group’s sales have remained strong. Hyundai and Kia sold 430,720 vehicles in the United States in the first quarter, up 2.6% from a year earlier. Over the same period, major rivals posted declines, including GM (-9.6%), Honda (-4.2%), Nissan (-8.3%), Toyota (-0.1%). The gains were driven by rising demand for eco-friendly models such as the Sonata Hybrid and higher sales of SUVs including the Tucson and Sportage. Hyundai said it is adjusting its strategy to fit the changing environment. It plans to invest $26 billion in the United States through 2028 to sharply increase production of vehicles, including hybrids. A Hyundai official said, "(In the U.S. market) tariff factors and policy uncertainty are growing, so we are focusing on expanding local production rather than exports from Korea."* This article has been translated by AI. 2026-04-30 17:12:36
  • Hanon Systems Q1 Operating Profit Jumps 361% to 97.2 Billion Won
    Hanon Systems Q1 Operating Profit Jumps 361% to 97.2 Billion Won Hanon Systems, an automotive thermal energy management solutions company under the Hankook & Company Group, posted sharply improved results. In a regulatory filing on the 30th, Hanon Systems said its first-quarter operating profit on a consolidated basis was 97.2 billion won, up 361.1% from a year earlier on a preliminary tally. Revenue rose 5% to 2.7482 trillion won. Net profit was 67.5 billion won, returning to the black. The company said the performance reflects companywide restructuring efforts pursued since its acquisition by the Hankook & Company Group. Hanon Systems has maintained an operating margin in the 3% range since the second half of last year and posted a 3.5% margin in the first quarter, citing improved cost ratios and greater operating efficiency. Electrification, a key growth area, accounted for 29% of revenue, putting it close to surpassing 30% of total sales. The company said it responded flexibly to demand for internal-combustion and hybrid models, as well as the impact of new electric-vehicle launches. It said further revenue growth is expected this year, driven by European customers expanding electrification and rising demand for hybrids. Based on a full-line portfolio spanning internal-combustion vehicles to hydrogen fuel-cell electric vehicles, the company said it plans to introduce intelligent solutions that apply artificial intelligence to maximize energy efficiency. Vice Chairman and CEO Lee Soo-il said, "Based on our accumulated thermal management capabilities, we will accelerate qualitative growth by pursuing future new businesses such as AI-based integrated thermal management solutions, secure long-term financial soundness, and strengthen our technology leadership in the global market."* This article has been translated by AI. 2026-04-30 16:45:19
  • Hanwha Aerospace Q1 Operating Profit Rises 21% on Record Order Backlog
    Hanwha Aerospace Q1 Operating Profit Rises 21% on Record Order Backlog Hanwha Aerospace said Wednesday that its first-quarter operating profit rose 21% from a year earlier to 638.9 billion won on a consolidated basis. Revenue increased 5% to 5.751 trillion won. In its ground defense business, revenue came to 1.2211 trillion won and operating profit totaled 208.7 billion won. Revenue rose 5% from a year earlier, while operating profit fell 31%. The company said its order backlog hit a record high. Reflecting contracts including a deal finalized in January to export the Chunmoo multiple rocket guided missile system to Norway worth about 1.3 trillion won, the backlog stood at about 39.7 trillion won. The aerospace business posted revenue of 661.2 billion won, up 25% from a year earlier. Operating profit jumped to 22.6 billion won from 3.6 billion won a year earlier, a 533% increase. The company cited higher defense volumes and a larger share of revenue from businesses with solid profitability. Hanwha Ocean reported revenue of 3.2099 trillion won and operating profit of 441.1 billion won. From a year earlier, revenue rose 2% and operating profit increased 71%. The company attributed the improvement to a higher share of high-value commercial ship projects such as LNG carriers, as well as the impact of a weaker won, lower material costs and productivity gains. A Hanwha Aerospace official said the company maintained steady growth in the first quarter, helped by strong results in the aerospace business and at Hanwha Ocean, and pledged to maximize shareholder value through continued order wins beyond the record backlog.* This article has been translated by AI. 2026-04-30 10:53:04
  • Hanwha Systems Installs Homegrown Ship Engine Control System on ROK Navy Destroyer Yang Manchun
    Hanwha Systems Installs Homegrown Ship Engine Control System on ROK Navy Destroyer Yang Manchun A domestically developed integrated engine control system, or ECS, has been installed for the first time on an operational naval ship in South Korea, replacing a key component that had largely relied on foreign suppliers. Hanwha Systems said it held a ceremony on the 30th at Jinhae Port in Changwon, South Gyeongsang Province, with the Navy and the Defense Rapid Acquisition Technology Research Institute to mark completion of a performance upgrade for the Yang Manchun (DDH-I) integrated engine control system. The Yang Manchun is a 3,200-ton helicopter-capable destroyer built under the KDX-I program along with the Gwanggaeto the Great and Eulji Mundeok. Under the project, the ship’s system was replaced with Hanwha Systems’ domestically produced integrated engine control system. The ship previously used equipment from overseas suppliers. Often described as a ship’s “heart,” the integrated engine control system manages propulsion, power, auxiliary equipment and damage-control systems through a single network. Hanwha Systems said the ECS is considered a core system for future ships aimed at unmanned operation, advanced intelligence and automation, alongside the combat management system, or CMS — described as the ship’s “brain” — that the company installed on the Yang Manchun in 2020. The company said the ECS effort was developed through civil-government-military cooperation. Hanwha Systems has worked since 2014 to secure key technologies in stages, collaborating with the Navy, the Defense Rapid Acquisition Technology Research Institute, the Korea Institute of Defense Technology Promotion and Research, and the Korea Institute of Machinery and Materials on defense core-technology projects. Hanwha Systems said it is currently the only company in South Korea with both domestically developed CMS and ECS technologies, and that full compatibility between the two has also enabled it to secure cockpit-style integrated bridge system, or IBS, technology. “K-ship unmanned operation and advanced capabilities will be brought forward through continued technology development, and we will work to have our unique competitiveness recognized in the global naval defense market,” said Yoo Moon-ki, head of Hanwha Systems’ naval business division. 2026-04-30 10:41:31
  • Hanwha to Pursue Joint Venture With Canada Auto Parts Group to Produce Military Vehicles
    Hanwha to Pursue Joint Venture With Canada Auto Parts Group to Produce Military Vehicles Hanwha Aerospace is teaming up with Canada’s Automotive Parts Manufacturers’ Association to build a local production base for ground weapons systems, including military vehicles. Hanwha Aerospace said April 30 that it signed a memorandum of understanding on April 29 (local time) in Ontario with APMA and Hanwha Ocean to pursue a joint venture to produce military vehicles and special-purpose industrial vehicles. The companies said the partnership would move forward in earnest if Hanwha Ocean’s Jangbogo-III Batch-II submarine is selected for Canada’s Canadian Patrol Submarine Project, linking the submarine bid to a broader package that expands into ground systems. Attendees at the signing included Hanwha Aerospace CEO Son Jae-il; Jeong Seung-gyun, head of Hanwha Ocean’s overseas special ship business; Ontario Minister of Economic Development Victor Fedeli; APMA President Flavio Volpe; and Martinrea Chairman Robert Wildeboer. Hanwha said it has built a cooperation base in Canada by signing agreements with more than 30 local companies, and that the APMA partnership is intended to deepen its localization strategy. If the submarine is chosen for the CPSP, the joint venture would establish development and production systems for ground weapons the Canadian Army needs, the company said. The venture also plans to use Canadian-made materials such as steel and aluminum and hire local workers for production, aligning with the Canadian government’s emphasis on domestic manufacturing. Over time, the joint venture aims to expand into the design and production of special-purpose industrial vehicles, prioritizing Canadian military and public-sector demand and Arctic resource development needs while also exploring exports to allied countries. Hanwha cited an analysis by global accounting and consulting firm KPMG projecting that Hanwha’s investment in Canada would create an average of 22,500 jobs a year from this year through 2044 and generate a cumulative C$94.1 billion (about 102.4 trillion won) in GDP. “This MOU is a starting point for combining Canada’s manufacturing capabilities with Hanwha’s defense technology,” Son said. “Based on local production, we will expand into global markets and contribute to strengthening Canada’s defense capabilities.” * This article has been translated by AI. 2026-04-30 10:17:06
  • Star Alliance Opens New Lounge at Guangzhou Baiyun Airport Terminal 3
    Star Alliance Opens New Lounge at Guangzhou Baiyun Airport Terminal 3 Asiana Airlines said Thursday that Star Alliance, the airline group it belongs to, officially opened a dedicated lounge on April 28 at the new Terminal 3 of Guangzhou Baiyun International Airport in China. The new facility is Star Alliance’s second lounge in Guangzhou, following its first location opened in 2024. The lounge covers about 1,400 square meters (about 15,070 square feet) and has 245 seats. It also includes a 700-square-meter (about 7,535-square-foot) outdoor garden, designed to let passengers relax in a natural setting before boarding. The lounge operates 24 hours a day and includes dedicated rest areas, sleeping capsules, private rooms and a work zone, the airline said. An opening ceremony at Terminal 3 was attended by Ambar Franco, Star Alliance vice president for customer experience, and Chi Yaoming, deputy general manager of Guangzhou Baiyun International Airport, along with representatives from member airlines and the airport. “Lounges are a key element in delivering a smooth and comfortable journey for our member airlines’ customers,” Franco said. “In line with Guangzhou’s growing role as an international hub, this lounge offers more space and upgraded facilities to provide a distinct level of comfort.” Star Alliance said the design reinterprets Guangzhou’s Lingnan culture and natural scenery in a modern style, with a centerpiece inspired by the city flower, the kapok. The lounge also offers a tea experience area run by a professional tea artist. Food options were developed in collaboration with Pullman Hotel and include Chinese and Western dishes, the airline said. The lounge is available to first- and business-class passengers on Star Alliance member airlines departing from Terminal 3, as well as Star Alliance Gold members. A total of 10 Star Alliance member airlines, including Asiana Airlines, Air China and ANA, currently serve Guangzhou Airport. The alliance operates more than 1,500 flights a week from Guangzhou, connecting 52 cities in 10 countries, Asiana said.* This article has been translated by AI. 2026-04-30 09:53:51
  • Hyundai Motor, Catch! Teenieping to Launch Youth Adventure 2026 Nexo Exhibit
    Hyundai Motor, Catch! Teenieping to Launch Youth Adventure 2026 Nexo Exhibit Hyundai Motor Co. said Wednesday it will hold its “Youth Adventure 2026” exhibition with the children’s franchise “Catch! Teenieping” as part of its marketing program aimed at young audiences. The exhibition will run from May 1 to Aug. 2 at Hyundai Motorstudio Goyang and Hyundai Motorstudio Busan. Built around Hyundai’s Nexo hydrogen fuel-cell vehicle, the program uses a Hyundai x Teenieping storyline and hands-on activities designed to help children learn about future energy and vehicles in an accessible way. A screening room will exclusively show a roughly 10-minute spin-off film, “Hachuping’s Hair-Raising Hydrogen Car Rescue Mission,” in which a Nexo created by Hyundai researcher character Sappunping is stolen and later recovered by racer Hachuping and friends. Hyundai released a trailer for the spin-off film on April 27 ahead of the exhibition’s opening. The company will also operate a “Hyundai x Teenieping Experience Zone,” offering edutainment content that follows the Teenieping story to explain how the Nexo works and includes a camping-themed activity. A separate merchandise area will offer 11 children’s items, including toys and car accessories. Hyundai said it also plans to display award-winning works from the 10th Hyundai Kids Motor Show, with six top-prize entries to be exhibited on the third floor of Hyundai Motorstudio Goyang. For Children’s Day, Hyundai will stage a “Catch! Teenieping Sing-Along Show” at Hyundai Motorstudio Goyang on May 5, featuring Teenieping characters performing songs and dance for children and families. “We will work to strengthen brand affinity with children, who are future potential customers, and to secure inspiration for next-generation innovation,” said Ji Seong-won, vice president and head of Hyundai’s Brand Marketing Division.* This article has been translated by AI. 2026-04-30 09:27:18
  • Hyundai Motor to Hire Experienced Staff in Manufacturing Software and AI
    Hyundai Motor to Hire Experienced Staff in Manufacturing Software and AI Hyundai Motor said Wednesday it will recruit experienced hires in manufacturing software and artificial intelligence from May 1 to 17. The openings cover four areas: software-defined factories, manufacturing AI, manufacturing robotics and intelligent manufacturing logistics. Successful applicants in the document screening will be announced in June, with final hires to be selected through first- and second-round interviews, the company said. Hyundai Motor said the recruitment is aimed at accelerating future businesses such as robotics and physical AI, while improving manufacturing performance and strengthening quality competitiveness. A company official said Hyundai Motor will "make every effort to identify top talent in manufacturing software and AI" to respond to a rapidly changing global market and sustain momentum in its future industries.* This article has been translated by AI. 2026-04-30 09:06:39
  • Hyundai Motor Group Unveils Pleos Connect Next-Gen In-Car Infotainment System
    Hyundai Motor Group Unveils Pleos Connect Next-Gen In-Car Infotainment System 현대차그룹이 차량을 '움직이는 스마트 기기'로 전환하는 차세대 인포테인먼트 시스템을 공개했다. 현대차그룹은 지난 29일 서울 강남구 UX 스튜디오 서울에서 미디어데이를 열고 다음 달 선보일 차세대 인포테인먼트 시스템인 플레오스 커넥트의 개발 콘셉트와 주요 기능, 향후 적용 계획을 발표했다. 플레오스 커넥트는 현대차그룹이 개발자 컨퍼런스 플레오스 25에서 공개한 연구개발 모델을 양산형으로 구현한 시스템이다. 그룹은 이를 소프트웨어중심차량(SDV) 체제 전환을 이끄는 핵심 플랫폼으로 보고 있다. 시스템은 대화면 디스플레이와 슬림 디스플레이, AI 음성 어시스턴트 '글레오 AI', 개방형 앱 마켓을 기반으로 구성됐다. 운전자는 터치와 음성 명령으로 차량 기능을 제어하고 내비게이션, 미디어, 외부 앱 서비스를 이용할 수 있다. 대화면 디스플레이는 주행 정보와 앱 기능을 분리해 직관성을 높였다고 회사는 설명했다. 화면 왼쪽에는 속도와 경고등 등 핵심 주행 정보를, 오른쪽에는 내비게이션과 콘텐츠 등 기능을 배치했다. 앱 화면은 분할해 여러 기능을 동시에 실행할 수 있다. 현대차그룹은 AI 기능을 핵심으로 내세웠다. 글레오 AI는 대규모 언어모델(LLM)을 기반으로 사용자의 의도와 상황을 파악해 차량 제어, 길 안내, 정보 검색 등을 수행한다. 여러 명령을 한 번에 처리하거나 모호한 표현도 인식하는 음성 인터페이스를 제공한다고 밝혔다. 또 차량 내에서 음악, 영상, 내비게이션, 웹 검색 등 외부 서비스를 이용할 수 있는 앱 마켓을 도입한다. 향후 게임과 엔터테인먼트, 차량 관리 서비스로 확대할 계획이다. 현대차그룹은 5월 출시 예정인 더 뉴 그랜저에 플레오스 커넥트를 처음 적용하고, 글로벌 시장에 순차적으로 확대해 2030년까지 약 2000만대 차량에 적용할 계획이다. 이종원 현대차·기아 피처&CCS사업부 전무는 "플레오스 커넥트는 모바일 친화적으로 구성된 플랫폼에 고도화된 인공지능 기술을 결합해 이용자에게 한 차원 높아진 이동 경험을 제공할 것"이라고 말했다. 2026-04-30 08:59:08
  • Hyundai Motor Group Chairman Chung Euisun Returns to Beijing Auto Show After 8 Years
    Hyundai Motor Group Chairman Chung Euisun Returns to Beijing Auto Show After 8 Years Hyundai Motor Group Chairman Chung Euisun visited the Beijing motor show, the world’s largest auto exhibition, for the first time in eight years, a move seen as reinforcing the group’s push in China. According to industry officials on Tuesday, Chung visited Auto China 2026 at the Beijing International Exhibition Center and checked the show floor. He toured booths of major Chinese electric-vehicle makers, including BYD, and was said to have reviewed their growing competitiveness in EVs, batteries and autonomous driving. It was Chung’s first visit to the Beijing motor show since 2018. Following his attendance at last year’s Shanghai motor show, it marked a second straight year he has visited a major auto show in China. The Beijing motor show, which opened April 24, spans 380,000 square meters — about the size of 50 soccer fields — making it the largest auto exhibition in the world. Hyundai used the show to unveil the Ioniq V for the first time globally and signal its intent to regain momentum in China. Starting with the Ioniq V, Hyundai aims to launch 20 new models over the next five years and lift annual sales to about 500,000 vehicles.* This article has been translated by AI. 2026-04-29 18:32:15