Hyundai Motor Group extends European recovery on hybrid demand SEOUL, December 23 (AJP) - Hyundai Motor Group continued its recovery in Europe in November, supported by solid demand for electrified vehicles, particularly hybrids. Hyundai Motor and Kia sold a combined 79,901 vehicles in Europe during the month, up 0.2 percent from a year earlier, data from the European Automobile Manufacturers’ Association (ACEA) showed on Tuesday. Hyundai’s sales rose 3.7 percent to 41,026 units, while Kia’s deliveries fell 3.2 percent to 38,875. Their combined market share slipped 0.2 percentage points to 7.4 percent. Overall European vehicle sales increased 2.4 percent to 1,079,563 units in November. From January through November 2025, Hyundai and Kia’s cumulative European sales fell 2.6 percent from a year earlier to 959,317 vehicles. Their market share for the period stood at 7.9 percent, down 0.4 percentage points. 2025-12-23 16:08:50

Imported cars win over more South Korean motorists, survey reveals SEOUL, December 18 (AJP) - More motorists are showing increased interest in imported cars, according to a survey by the Korea Automobile Importers & Distributors Association (KAIDA) released on Thursday. The association surveyed about 1,500 motorists and found that the majority of respondents or 66.3 percent held a favorable view of imported cars, while only 4.9 percent gave a negative response. The rest were neutral. The main reasons cited were the growing presence of imported cars (37.1 percent), comparable prices to South Korean brands (17.7 percent), better quality and performance (12.9 percent), and respect for personal choice (9.1 percent). When asked why they bought imported cars, most respondents cited quality, durability, and driving performance, with those who already owned imports expressing more favorable views. More than three in 10 consumers planning to buy a new car within the next two years said they are considering an imported brand. "Imported cars are becoming common options for many," a KAIDA official said, adding that they may spur competition and help raise overall quality in the auto market. 2025-12-18 17:02:28

Hanwha Systems to supply cockpit displays for F-15 jets in deal with Boeing SEOUL, December 18 (AJP) - South Korea's Hanwha Systems said on Thursday it has secured its first foothold in the U.S. defense market by winning a contract to export digital avionics equipment to Boeing. The South Korean defense company said it has signed a deal to supply Boeing with a large-area multifunction display, known as the enhanced large-area display (ELAD), for F-15K fighter jets and the U.S. Air Force’s F-15EX aircraft. The display integrates information that was previously shown across multiple cockpit instruments into a single large screen, allowing pilots to access critical flight and mission data more quickly and improving situational awareness and operational efficiency, the company said. Hanwha Systems said the initial deliveries and application of its avionics to the F-15K fleet are expected to support greater participation by South Korean technology providers in U.S.-led fighter jet upgrade programs. The company attributed the contract to government-backed industrial cooperation and defense sales diplomacy, including support from the Defense Acquisition Program Administration (DAPA) and its aviation program office. DAPA signed an industrial cooperation memorandum of understanding with Boeing in November last year as part of efforts to upgrade South Korea’s F-15K fleet and expand the role of domestic companies in major overseas procurement programs. Hanwha Systems said being a supplier of the large cockpit display for the F-15 platform will open the door to further opportunities in the U.S. defense market. The company also supplies seven core avionics systems for South Korea’s domestically developed KF-21 fighter jet, including the mission computer, multifunction display, audio control and communication system, and terrain-following computer, all developed using domestic technology. In addition, Hanwha Systems provides the KF-21 with domestically produced systems such as an infrared search-and-track sensor and electro-optical targeting equipment. 2025-12-18 09:49:04

Hanwha to develop radar for South Korea's next-generation missile shield SEOUL, December 17 (AJP) - Hanwha Systems said it has secured a contract worth about $135 million to develop a multifunction radar for South Korea’s next-generation Cheongung-III missile defense system. The contract is part of the M-SAM Block-III program, led by the Agency for Defense Development (ADD), and will run through June 2030, the company said on Wednesday. The project represents the first full-scale development of the Cheongung-III system since the upgrade of Cheongung-II in 2012. Hanwha Systems said it will apply advanced radar technologies and experience gained from earlier Cheongung radar programs in close cooperation with ADD. The multifunction radar will serve as the core sensor for the Cheongung-III system, detecting, tracking and identifying airborne threats while supporting interception operations. The radar will use active electronically scanned array (AESA) technology, allowing it to perform multiple functions simultaneously, including tracking ballistic missiles and aircraft. Hanwha said the new radar is designed to strengthen South Korea’s lower-tier missile defense capabilities against emerging threats such as cruise missiles and unmanned aerial vehicles. “Through the development of the Cheongung-III multifunction radar, we aim to demonstrate our position as a global leader in radar technology,” said Park Hyuk, head of Hanwha Systems’ radar center. 2025-12-17 17:22:39

Hyundai Motor extends World Archery sponsorship through 2028 SEOUL, December 16 (AJP) - Hyundai Motor said on Tuesday it will extend its partnership with World Archery until 2028, maintaining its title sponsorship of the World Archery Championships and the Archery World Cup. The South Korean automaker first partnered with World Archery in 2016. Under the renewed agreement, Hyundai will also sponsor the Para Archery World Series and the Indoor Archery World Series. The Para Archery World Series, a development-focused program for athletes with disabilities, is set to launch in 2026 and will be held in six countries, including Thailand, Chile and the United States. The Indoor Archery World Series, which is open to participants of all levels, will run annually from October to March in seven countries, including France and the United States. Hyundai said it plans to further enhance its global brand positioning by incorporating robotics sponsorship into major archery events, integrating its technology and brand messaging on an international stage. “The partnership with Hyundai has been a driving force for the growth of archery worldwide since 2016,” Greg Easton, the newly appointed president of World Archery, said in a statement. He added that expanded support for para archery and public participation programs from 2026 would strengthen both inclusivity and elite competition. Hyundai Motor Chief Executive Jose Munoz said archery reflects the values of precision, focus and excellence that underpin the company’s brand. “This renewal, guided by the vision of Chairman Chung Eui-sun, will help enhance inclusivity and accessibility in sport through our support for para and indoor archery,” he said. Hyundai’s involvement in the sport dates back to 1985, when honorary chairman Chung Mong-koo led the Korea Archery Association. Since 2005, Chairman Chung Eui-sun has continued to support the development of Korean archery, with an emphasis on scientific training systems and athlete development — efforts widely credited with helping South Korea achieve sustained success on the global stage. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 09:48:28

Japanese cities top travel destinations for Korean Air passengers SEOUL, December 11 (AJP) - Tokyo was the most popular destination among overseas travelers aboard Korean Air this year, with Japanese cities dominating the top spots for short-haul travel. According to a year-end report released Thursday by the country's flagship carrier, based on the number of passengers on international flights from January through Nov. 10, Tokyo topped the list, followed by Osaka, Fukuoka, and Bangkok. Flights to Chinese cities rebounded sharply, with passenger numbers to Shanghai increasing by 128,000 compared to the previous year, followed by Beijing, up 71,000, and Qingdao, up 63,000. Of the 16.49 million passengers Korean Air carried, the most frequent flyer took 216 flights. The figure also included some 5,192 minors on international routes traveling without parents or guardians and 31,818 pets. Passengers in their 30s and 40s accounted for 40 percent of the total, followed by those in their 50s and 60s (30 percent) and those in their teens and 20s (21 percent). Foreign passengers accounted for 35 percent of the total, with Americans and Chinese each making up 24 percent. Korean Air, in the process of merging with Asiana Airlines, recently rolled out newly designed aircraft and improved airport lounges and facilities. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 16:04:31

South Korea, Japan urged to boost semiconductor, battery, AI cooperation SEOUL, December 11 (AJP) - Sohn Kyung-shik, chairman of the Korea Employers Federation, on Thursday called for cooperation between South Korean and Japanese companies in strategic sectors such as semiconductors, electric vehicle batteries and artificial intelligence, citing mounting geopolitical risks and global supply-chain realignments. Speaking at a meeting in Seoul with Japanese Ambassador Koichi Mizushima, Sohn said the 60th anniversary of the normalization of diplomatic ties in 2025 presents a key opportunity to deepen economic collaboration. “Next year marks a significant moment to open a new chapter in Korea–Japan relations,” Sohn said. “With both countries facing geopolitical rivalry, supply-chain restructuring, climate change and demographic pressures, these challenges must be addressed together.” He said that, in uncertain global conditions, “close neighbors like South Korea and Japan" should join forces to secure future growth engines, adding that deeper corporate partnerships in next-generation technologies would allow the two economies to drive innovation and remain competitive globally. Business cooperation between the two countries has been expanding in fields such as semiconductors, hydrogen mobility and other advanced technology sectors, with Japanese investment in South Korea also on the rise. Sohn urged both governments to foster a business environment conducive to free investment and corporate expansion. He also highlighted the positive reception of a special fast-track immigration lane introduced for citizens of both countries during June’s 60th anniversary events, calling for the measure to be made permanent. Ambassador Mizushima said strengthening economic ties would yield mutual benefits despite global uncertainties. “Our geographical proximity and shared values create opportunities to maximize complementary strengths,” he said. The Korea Employers Federation has held regular meetings with the Japanese ambassador since 2020 to enhance bilateral business cooperation and support Japanese firms operating in South Korea. This year’s meeting brought together leading South Korean business representatives and Japanese officials. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 14:02:04

HD Hyundai Infracore's hydrogen engines recognized at global expo SEOUL, December 11 (AJP) - HD Hyundai Infracore’s hydrogen engines, the HX12 and HX22, were named “Best Pick” at the World Hydrogen Expo (WHE) 2025 Best Product Media Awards, the company said Thursday. The awards were decided by a panel of automotive journalists who assessed products displayed at the expo for innovation, technical competitiveness and commercialization potential. HD Hyundai Infracore’s HX12, an 11-liter hydrogen internal combustion engine for vehicles and power generation, was recognized for a second consecutive year and is scheduled for mass production next year. The newly unveiled HX22, billed as the world’s largest 22-liter hydrogen engine, features a V12 layout with a maximum output of 600 kW (816 horsepower) and continuous output of 477 kW (649 hp), a level of power the company said could cover the annual electricity needs of about 200 households. Judges cited its scalability and efficiency. The four-day WHE 2025 event drew about 25,000 visitors from 26 countries and featured 279 companies and institutions. Alongside the exhibition, the event hosted technical conferences, business matchmaking sessions and industry forums, reinforcing its role as an emerging global platform for the hydrogen economy. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 09:42:24

Starlink's entry into S. Korea triggers push for independent satellite networks SEOUL, December 08 (AJP) - SpaceX’s Starlink has formally entered the South Korean market, prompting domestic space and defense companies to reassess strategy amid growing concerns over dependence on foreign low-earth orbit (LEO) satellite networks for communications and military operations. Industry sources said Monday that Hanwha Systems, a major South Korean space and defense contractor, is reviewing its satellite communications plans as Starlink’s commercial rollout gathers pace. In June, the company sold its stake in European satellite operator OneWeb for 120 billion won, after acquiring the shares in 2021 for about 300 billion won, citing weak investment returns. Despite retaining exclusive rights to operate a military satellite network linked to OneWeb until 2030, the long-term viability of the partnership remains uncertain, underscoring pressure on South Korea to build an independent LEO satellite capability. The strategic value of LEO constellations has been highlighted by the Russia–Ukraine war, where Starlink terminals have been used to support Ukrainian military operations, including drone control and battlefield communications. “Dependence on foreign core technologies can create structural vulnerabilities,” said Park Joo-hong, a professor in the IT Convergence Engineering Department at POSTECH. “Independent satellite development is especially critical for defense applications, where secure control and data management are essential.” Starlink operates more than 8,000 satellites and provides download speeds of up to 500 megabits per second. The service now has more than 8 million users across roughly 150 countries, and its low-latency connections have driven rapid adoption by commercial customers. In South Korea, Starlink has signed a supply agreement with Hanjin Group. Five affiliated airlines, including Korean Air and Asiana Airlines, plan to replace existing geostationary satellite services from Panasonic with Starlink-based in-flight Wi-Fi by the third quarter of next year. Industry experts warn that reliance on foreign networks could pose long-term security and sovereignty risks. They say South Korea needs to develop a private sector-led satellite ecosystem combining domestic launch capabilities and satellite manufacturing to reduce strategic dependence. Analysts estimate that at least 100 LEO satellites would be required to establish a viable independent network. The South Korean government is accelerating efforts to build domestic capacity. The Ministry of Science and ICT plans to invest 320 billion won by 2030 to develop a national LEO satellite communications system, including two satellites and ground infrastructure. Hanwha Systems is also expanding work on space-grade semiconductors and related infrastructure, including facilities at the Jeju Space Center. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-08 14:57:29

Korea's household wealth skewed to property, undermining capital markets: report SEOUL, December 08 (AJP) - South Korean household wealth remains heavily concentrated in real estate, leaving the country structurally behind major advanced economies in financial investment and capital-market participation, according to a report released Monday by the Korea Economic Research Institute (KERI). The study, authored by Professor Song Heon-jae of the University of Seoul, found that non-financial assets — largely residential and commercial property — accounted for 64.5 percent of household wealth in 2024. By comparison, real assets represented 32 percent of household wealth in the United States, 36.4 percent in Japan and 51.6 percent in the United Kingdom. Financial assets made up just 35.5 percent of Korean household wealth, the lowest among the countries surveyed. The report also highlighted Korea’s conservative asset allocation within its financial portfolio. Cash and deposits rose to 46.3 percent of financial assets in 2024 from 43.4 percent in 2020, while holdings of securities and derivatives edged down from 25.1 percent to 24.0 percent, underscoring a household preference for savings over market-based investment. In contrast, US households have steadily shifted toward capital markets, with financial assets accounting for 68 percent of total household wealth. The share of investment products climbed from 51.4 percent in 2020 to 56.1 percent in 2024, supported by strong equity and asset-price performance. Japan maintained a high cash and deposit ratio of 50.9 percent, but expanded its allocation to financial investments from 15.2 percent to 20.9 percent, aided by a weaker yen and government-backed initiatives to deepen retail participation in capital markets. “The excessive concentration of household wealth in real estate constrains the efficient flow of capital into productive sectors such as corporate investment,” said Lee Sang-ho, head of KERI’s Economic and Industrial Policy Bureau. “Building a culture of long-term financial investment is essential to creating a virtuous cycle between corporate growth and household wealth.” The report called for structural tax reforms to rebalance Korean household portfolios, including simplifying dividend and capital gains taxation and introducing a unified tax rate for financial income. It also recommended reviving tax-deductible long-term investment funds and allowing tax relief on losses from long-term financial products, mirroring practices in the United States. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-08 09:05:35