Journalist

Han Ji-yeon
  • 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
  • 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
  • BYD Korea Unveils City Pop-Inspired Digital Film Campaign for Dolphin EV
    BYD Korea Unveils City Pop-Inspired Digital Film Campaign for Dolphin EV BYD Korea said Tuesday it is releasing a digital film campaign with a City Pop feel to mark the launch of its compact electric hatchback, the BYD Dolphin. The campaign departs from conventional car ads, presenting a content-driven digital film series that blends animation and music. BYD Korea plans three videos themed around driving range, a surround-view system and interior space, aiming to convey the Dolphin’s mood and lifestyle appeal and make the brand and model feel more approachable. The series uses City Pop music and an animation style associated with 1980s and 1990s urban sensibilities, designed to resonate with people in their 20s and 30s. Rather than emphasizing performance directly, it focuses on storytelling centered on everyday city life, music and emotion. The Dolphin is the first model in BYD’s “Ocean Series,” inspired by marine life, and is positioned as a small hatchback aimed at broadening EV adoption. It starts at 24.5 million won, and with subsidies the purchase price can fall to the 21 million won range. Built on the dedicated EV e-Platform 3.0, the Dolphin has a 2,700mm wheelbase to secure roomy interior space. Standard features include a panoramic glass roof and a 360-degree surround-view system, among other convenience and safety specifications. It also earned five-star top ratings in Euro NCAP and Green NCAP assessments, BYD Korea said. “This digital film was produced so it can be enjoyed as content rather than as a car advertisement,” a BYD Korea official said. “We wanted to expand touchpoints with younger generations by expressing the Dolphin’s light and free image through City Pop sensibilities and animation.” The videos are available on BYD Korea’s official YouTube and Instagram channels and will be released sequentially across other media platforms, including Megabox theater advertising, the company said. * This article has been translated by AI. 2026-03-10 14:57:18
  • Kencoa Aerospace Signs Deal to Supply Embraer C-390 Sheet-Metal Parts to European Defense Firm
    Kencoa Aerospace Signs Deal to Supply Embraer C-390 Sheet-Metal Parts to European Defense Firm Kencoa Aerospace said Tuesday it has signed a large contract with a European aerospace defense manufacturer to supply major sheet-metal parts for Embraer’s C-390 program. The company said it secured the order after completing capital spending last year to expand its sheet-metal production facilities. Under the agreement, Kencoa will supply key sheet-metal components for the C-390. It did not disclose the customer, contract value or other terms, citing a confidentiality clause. Kencoa said it aims to complete development and deliver initial parts for the project this year. It said technical talks are underway under a detailed schedule and preparations are being made to build prototypes, while a mass-production system is being put in place. The company said additional requests for quotes from global firms have followed the contract, raising expectations for more orders. Kencoa said it has made major equipment investments to strengthen high-precision, high-quality aircraft sheet-metal production, including automated equipment and quality-control systems to meet stringent international certification requirements in aerospace and defense. It called the Czech order its first visible result. The C-390 is a next-generation tactical transport aircraft seeing rising demand globally, including in Europe. The aircraft has also been selected as a model for the South Korean Air Force’s second large transport aircraft program, the company said. Chief Executive Officer Lee Min-gyu said the deal goes beyond parts supply and reflects renewed recognition of Kencoa’s process technology and quality competitiveness in the international defense market. He said the company will strengthen cooperation with overseas partners through continued investment in technology and quality innovation. * This article has been translated by AI. 2026-03-10 14:51:16
  • South Korea fines Mercedes-Benz for allegedly hiding EV battery supplier information
    South Korea fines Mercedes-Benz for allegedly hiding EV battery supplier information South Korea’s Fair Trade Commission ordered Mercedes-Benz to take corrective steps and pay a penalty surcharge of 11.339 billion won, accusing the automaker of deliberately omitting and concealing information about electric-vehicle battery cells. Mercedes-Benz Korea denied wrongdoing and said it is considering an administrative lawsuit to contest the decision. On the 10th, the commission said Mercedes-Benz installed Farasis battery cells in many EV models, including the EQE and EQS, but failed to disclose that fact. Instead, it allegedly created “vehicle sales guidelines” that dealers used in marketing, making it appear that all of its EVs used cells from CATL, described as the world’s No. 1 battery cell maker. The FTC said that amounted to deceiving consumers and imposed the corrective order and the 11.339 billion won penalty surcharge. Separately, the FTC said it found grounds to believe Mercedes-Benz Korea and the German headquarters were directly or indirectly involved in the violations and decided further investigation was needed. It referred the case to prosecutors. Under current law, penalty surcharges for unfair trade practices can reach up to 4% of related sales. The FTC said its order against Mercedes-Benz applied the maximum 4% rate. According to the FTC, Mercedes-Benz instructed dealers to promote sales by highlighting CATL’s strengths without mentioning Farasis. But the FTC said that, contrary to the guidance, Farasis cells were installed in four of six EQE models and one of seven EQS models that Mercedes-Benz released. Information on the battery cell manufacturer is a key factor for consumers choosing an EV, the FTC said. It said dealers, relying on the company’s sales guidance, marketed and sold vehicles as equipped with CATL batteries. The FTC said about 3,000 EVs with Farasis cells were sold from June 8, 2023, when Mercedes-Benz notified dealers of the sales guidance, until Aug. 12, 2024, when disclosure of battery cell makers began after an apartment underground parking garage fire in Incheon’s Cheongna district on Aug. 1, 2024. The FTC put sales at about 281 billion won. Mercedes-Benz Korea said it did not violate the law and called the FTC’s conclusion unfair. In a statement, the company said it respects the FTC’s decision but disagrees with its judgment and will present its position through legal procedures, including an administrative lawsuit. “We operate our business with a high level of corporate ethics and responsibility and in compliance with laws and regulations,” the company said, adding that it has cooperated faithfully with authorities since the early stages of the investigation and that compliance is a core part of its corporate culture. It also said it has always provided correct and accurate information to the media and customers and will continue to state its position through legal procedures, including filing an administrative lawsuit. * This article has been translated by AI. 2026-03-10 14:45:20
  • Hyundai Mobis Starts Up New Hungary Plant, Expands Chassis Module Supply to Mercedes-Benz
    Hyundai Mobis Starts Up New Hungary Plant, Expands Chassis Module Supply to Mercedes-Benz Hyundai Mobis said Tuesday it has begun full operations at its first production base in Hungary as it moves to expand business with European automakers. The company recently won a contract to supply chassis modules to Mercedes-Benz in Europe, following a deal in North America in 2022. Under industry practice, Hyundai Mobis did not disclose the contract value or specific vehicle models. However, the industry expects the order to be sizable given Mercedes-Benz’s sales in Europe and the large-volume nature of chassis module procurement. A company official said the deal was backed by Hyundai Mobis’ track record of stable supply to Mercedes-Benz over several years, along with its manufacturing know-how and quality competitiveness. The new plant is in Kecskemet in central Hungary, located near the customer to speed deliveries and improve logistics efficiency. Hyundai Mobis said it is operating a just-in-sequence system that receives production plans in real time and builds modules immediately. The site covers about 50,000 square meters, roughly the size of seven soccer fields. The Hungary plant will produce chassis modules for electric and hybrid vehicles. Hyundai Mobis said it also plans to install equipment capable of mixed production with internal combustion models to respond quickly to changing customer schedules. Hungary is emerging as an auto and battery manufacturing hub in Eastern Europe, with annual new-vehicle output exceeding 500,000 units. German automakers have production bases there, and Chinese automakers and battery makers have also made large investments. Hyundai Mobis said its Hungary plant will be its fourth production base in Europe after the Czech Republic, Slovakia and Turkey, and its first site dedicated to global customers. Hyundai Mobis is also building a plant in Spain to supply battery systems to global customers. Once the Spain plant begins operations, the company said it will have five production bases covering Europe and expects stronger manufacturing competitiveness on the back of a more stable parts supply chain. The company aims to raise the share of revenue from global customers to 40% by 2033. A Hyundai Mobis official said chassis modules are large assemblies that integrate braking, steering and suspension components under a vehicle, requiring major investment in production sites and logistics systems. The official said the Hungary plant will help sustain long-term partnerships with customers, given the typically lengthy cooperation between automakers and suppliers.* This article has been translated by AI. 2026-03-10 11:05:00
  • Hyundai’s Middle East growth push faces war risk as U.S.-Iran conflict disrupts demand and shipping
    Hyundai’s Middle East growth push faces war risk as U.S.-Iran conflict disrupts demand and shipping Hyundai Motor Group’s push to build a “second Middle East boom” to offset expanding U.S. high-tariff pressure is facing a new obstacle: war risk. With Iran launching indiscriminate attacks that also hit key regional markets such as Saudi Arabia, the United Arab Emirates and Kuwait, the industry expects weaker auto demand across the Gulf Cooperation Council and disruptions to logistics. If the conflict drags on, Hyundai’s planned Middle East production base — targeted to begin operations in the fourth quarter — could also be delayed. The unexpected shock of the U.S.-Israel and Iran war is also clouding Hyundai’s goal of reaching a 20% market share in the region by 2030. According to industry officials on the 9th, Hyundai and Kia sold about 320,000 vehicles in the Middle East last year, maintaining a market share of roughly 15%. The region accounts for about 8% of their global sales, making it their fifth-largest market after North America, Europe, India and South Korea. The Middle East market is a three-way contest among South Korea, China and Japan: Toyota ranks first with about 450,000 vehicles a year, Hyundai and Kia are second, and third place is held by multiple Chinese EV brands including Chery Automobile. Hyundai has focused on the Middle East because of its growth. The regional auto market is valued at $25.6 billion and is projected to expand 5.2% annually to $35.4 billion by 2030 — more than 1.5 times the global auto market’s average growth rate of about 3%. The GCC accounts for 60% of the market and Iran 40%. Hyundai and Kia plan to raise annual Middle East sales to 550,000 vehicles by 2030, centered on Saudi Arabia, positioning the region as a growth market alongside India and Latin America. The war, however, could derail those plans. If it becomes prolonged, operations at Hyundai’s Middle East manufacturing unit, being built with Saudi Arabia’s Public Investment Fund and slated for a fourth-quarter start, are expected to face setbacks. The plant is designed to produce 50,000 vehicles a year, including internal combustion models and EVs, and is reported to be about 50% complete. Because the facility is to run on a complete knockdown, or CKD, model — importing parts for local assembly — it must complete staffing and the setup of parts and equipment up to six months in advance. “Skilled workers are essential for stable CKD operations, but if the war continues, it becomes nearly impossible to put key personnel in place,” an auto industry official said. “Hyundai Motor Group’s core strategy of countering U.S. high-tariff pressure by expanding Middle East sales is now under threat.” A bigger concern is a potential contraction in regional demand and shipping. Toyota plans to cut production by 40,000 vehicles to prepare for possible logistics disruptions. Hyundai has also temporarily halted shipping schedules from its India unit, HMIL, to the Middle East as the closure of the Strait of Hormuz has continued for more than 10 days. A Hyundai official said that if the war is prolonged, delays in transporting equipment and materials are expected to be unavoidable. “Because this situation could have a significant impact on key local markets such as Saudi Arabia and the UAE, we are strengthening monitoring,” the official said. * This article has been translated by AI. 2026-03-09 18:24:21
  • Hyundai Motor, Kia Picked for South Korea’s ‘K-Autonomous Driving’ Pilot in Gwangju
    Hyundai Motor, Kia Picked for South Korea’s ‘K-Autonomous Driving’ Pilot in Gwangju Hyundai Motor and Kia said Monday they have been selected as the automaker and transportation platform operator for the government-led “K-autonomous driving cooperation model,” part of the Ministry of Land, Infrastructure and Transport’s autonomous-driving test city initiative. The project, to be carried out in the city of Gwangju, is South Korea’s first effort to test autonomous-driving technology at the city level. The ministry said the large-scale trials are expected to secure high-quality real-world driving data while standards for technology development and related regulations are updated in parallel. Hyundai Motor and Kia were chosen to handle two areas in the demonstration: producing vehicles dedicated to autonomous-driving development and operating the transportation platform. The companies said building development vehicles requires not only supplying cars but also adding sensors tailored to each autonomous-driving approach, integrating vehicle controls and enabling over-the-air updates, among other functions needed for development and verification. Hyundai Motor and Kia said they have already built such capabilities by providing Ioniq 5-based autonomous vehicles in a foundry-style model to their autonomous-driving joint venture Motional and to Waymo’s robotaxi program. In the Gwangju project, they plan to support production of development vehicles and share vehicle and operational data generated during the trials with developers to help advance the technology. They also plan to deploy a dispatch and ride-hailing platform tailored for autonomous services based on their Shucle platform. The companies said Shucle’s core functions include AI- and real-time traffic-based route optimization, managing passenger pick-ups and drop-offs, and safety oversight through fleet monitoring. Hyundai Motor and Kia said they have strengthened operational stability by providing call and dispatch services since 2019 across 33 local governments and more than 82 service areas. Using Shucle in the demonstration, the companies said they aim to complete an integrated autonomous-service model that smoothly connects vehicles, the platform and users, and to lead efforts to build a new mobility experience and ecosystem. “This demonstration is an important opportunity to verify Hyundai Motor and Kia’s integrated autonomous-driving capabilities in a real urban environment,” said Kim Su-young, an executive director in the companies’ mobility business division. “We will focus our efforts on advancing the technology so that a system in which vehicles, autonomous-driving technology and the platform are organically linked can be established, and the results can develop into scalable standards.” * This article has been translated by AI. 2026-03-09 13:48:17
  • Hyundai Wia Holds 2026 Partnership Day, Pledges Shared Growth With Suppliers
    Hyundai Wia Holds 2026 Partnership Day, Pledges Shared Growth With Suppliers Hyundai Wia said it held its “2026 Partnership Day” on March 6-7 at Haevichi Hotel & Resort in Seogwipo on Jeju Island, where it shared its business strategy and vision with suppliers. The event brought together 123 key suppliers to discuss ways to pursue sustainable shared growth. Hyundai Wia holds the gathering each year in early January on Jeju Island. This year’s theme was “Our journey together creates a bigger future.” CEO Kwon Oh-sung said, “The foundation of Hyundai Wia’s 50-year history has been our suppliers,” adding that they are “true partners” who go beyond transactions to think through technology, overcome crises and share results. Hyundai Wia said it will work with suppliers to strengthen technology leadership, including collaborating from the product planning stage and jointly pursuing development and cost innovation for mass production. The company also said it will accelerate digital transformation using artificial intelligence to shorten development timelines and prevent potential mistakes in production and quality processes. To support suppliers’ AI adoption and technical capabilities, Hyundai Wia said it will expand training support by using Hyundai Motor Group’s Global Shared Growth Cooperation Center to provide practical education that can be applied on the job. At the event, it hosted an AI lecture by Park Hee-jun, a professor in Yonsei University’s industrial engineering department, to help suppliers strengthen AI and digital transformation skills. Hyundai Wia said it will expand shared-growth programs, including offering low-interest loans to suppliers through a 68 billion won fund. It said it will pay all amounts in cash to small and midsize suppliers with annual sales under 100 billion won and will make holiday payments early. The company also said it will strengthen support for suppliers’ safety management. Hyundai Wia said it will also help suppliers expand sales channels by supporting participation costs for overseas exhibitions and covering expenses for obtaining Korea Customs Service’s Authorized Economic Operator certification to strengthen import-export operations. A Hyundai Wia official said the company’s 50th anniversary this year was possible thanks to its suppliers, adding that it will “open the next 100 years” through shared growth with partners. * This article has been translated by AI. 2026-03-09 09:57:00