Hyundai Motor to provide Staria vehicles for G20 delegates in South Africa SEOUL, November 17 (AJP) - Hyundai Motor said Monday it will supply 30 Staria multi-purpose vehicles for the Group of 20 summit in Johannesburg, South Africa. The vehicles will be used to transport delegates during the Nov. 22-23 summit, which is expected to draw leaders from the G20 member nations as well as representatives from the European Union, African Union, United Nations, International Monetary Fund and World Bank. This year’s agenda centers on themes of solidarity, equality and sustainability. Hyundai Motor said it aims to use the event to highlight the Staria’s design, cabin space and safety technology. The company signed an agreement in early September with South Africa’s Department of International Relations and Cooperation to provide the fleet. “We are honored to support the first G20 summit on African soil,” Kim Il-beom, Hyundai’s vice president for global public operations, said in a statement. “We look forward to contributing to a successful event.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-17 16:09:15

KAI, Samsung team up to develop AI chips for defense systems SEOUL, November 14 (AJP) - Korea Aerospace Industries has formed a strategic partnership with Samsung Electronics to develop next-generation semiconductors for defense applications. KAI said Friday that it had signed a memorandum of understanding with Samsung at its headquarters in Sacheon, South Gyeongsang Province, to cooperate on the research, design and production of artificial intelligence and radio-frequency chips for aerospace and defense systems. The companies plan to establish joint working groups and build a long-term technology roadmap that adapts advanced civilian semiconductor technology for use in military hardware. The initiative is part of a broader effort by KAI to localize critical components used in weapon systems, from communications to sensors, amid rising geopolitical uncertainty and global supply-chain disruptions. Defense semiconductors require exceptional reliability and security standards, and the companies said they would prioritize meeting those demands while developing a more resilient supply base. KAI said the partnership would expand over time to include a wider range of defense-focused chip technologies and broader ecosystem development. “This strategic partnership with Samsung, a global leader in semiconductors, will be crucial for developing on-device AI semiconductors in the defense sector,” Cha Jae-byeong, KAI’s chief executive, said in a statement. “We aim to enhance South Korea’s defense industry and sovereign AI competitiveness.” Han Jin-man, president of Samsung’s foundry division, said the agreement would help advance the localization of defense-grade AI chips while reinforcing the domestic semiconductor ecosystem. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-14 13:45:32

Budget carrier Jin Air reaches milestone of 100 million passengers SEOUL, November 11 (AJP) - Jin Air has carried over 100 million passengers as of early November, the budget carrier said on Tuesday. The milestone comes roughly 17 years and four months after the airline launched its no-frills service with its first route between Gimpo and Jeju in July 2008. The accumulated number of passengers had reached approximately 99.94 million by the end of October, surpassing 100 million in early November, with 56.1 million traveling on domestic flights and 43.9 million on international routes. As travel demand began to recover after the coronavirus pandemic,, Jin Air has expanded its fleet and routes, now operating 15 domestic and 32 international routes, including exclusive flights from Incheon to smaller Japanese islands such as Miyakojima and Ishigaki, as well as flights from Busan to Clark in the Philippines." With the annual number of passengers surpassing 10 million for the first time last year, the airline posted a record operating profit of 182.2 billion Korean won and achieved its highest-ever revenue of 1.4613 trillion won. A Jin Air spokesman said, "We will do our best to provide enjoyable travel experiences for our passengers and become a leading airline by successfully completing mergers with Air Busan and Air Seoul." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-11 14:12:53

Hyundai Motor to supply electric buses to Indonesia's Bali SEOUL, November 11 (AJP) - Hyundai Motor said on Tuesday that it had been selected as the final contractor to supply electric buses to Bali, Indonesia. The South Korean automaker won the contract through an international bidding process organized by the Global Green Growth Institute, or GGGI, an environmental organization backed by the South Korean government. The project is part of Indonesia’s broader push to promote sustainable mobility and reduce carbon emissions in tourism-heavy regions. The initiative follows a memorandum of understanding signed in April between South Korea’s Ministry of Climate, Energy and Environment and the Indonesian government to collaborate on what is called the Bali e-Mobility Project, an official development assistance program. The project aims to transition Bali’s public transport network to electric vehicles and serve as a model for other Indonesian cities. Under the agreement, Hyundai will supply 10 units of its County electric buses for Bali’s public transport system — the first time electric buses will be used on the island. Hyundai had previously provided the same model to Surabaya, Indonesia’s second-largest city, in 2023. “Supplying electric buses to Bali, a destination for tourists worldwide, is significant,” said Kim Seong-nam, executive vice president at Hyundai’s Asia-Pacific headquarters. “We plan to continue supporting the development of eco-friendly public transportation in major Indonesian cities.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-11 11:02:37

OPINION: Behind EV boom lies growing pile of battery waste The global shift to electric vehicles has hit a temporary slowdown. Sales have cooled, incentives are waning, and skeptics are asking whether the EV boom has peaked. Yet the slowdown is likely to last only a few years. The market will recover as costs fall and technology improves. What deserves far more attention, however, is what happens after the battery runs out. Batteries make up roughly 40 percent of an electric vehicle’s cost. They are the beating heart of the EV revolution — and its biggest environmental challenge. While nations race to improve battery performance, the recycling and disposal of used batteries remain dangerously behind. If governments and manufacturers fail to prepare, the world could soon face a wave of hazardous battery waste. A quiet but consequential competition is now unfolding between two dominant battery technologies: lithium iron phosphate (LFP) batteries, led by China, and nickel-cobalt-manganese (NCM) lithium-ion batteries, favored in South Korea and Japan. LFP batteries are cheaper and increasingly popular, but they hold little value at the end of their life. Only about 15 percent of their materials can be recovered through recycling, compared with as much as 95 percent for NCM batteries. In China, where more than 80 percent of EVs use LFP batteries, reports suggest that many used batteries end up buried — a practice that threatens soil and groundwater contamination. South Korea, known for its stringent environmental standards, risks falling into a similar trap if it does not act decisively. Burying used batteries is not an option for a country as densely populated and land-scarce as South Korea. Yet recycling remains expensive, and government policy has not kept pace with the industry’s growth. South Korea's Ministry of Climate, Energy and Environment — recently reorganized to oversee green industries — has been urged to introduce an extended producer responsibility system, requiring manufacturers to take charge of collecting and recycling spent batteries. But progress has been slow. This is more than a waste management issue; it is an industrial and environmental test of leadership. Countries that develop cost-effective recycling systems will not only prevent pollution but also secure access to critical minerals like lithium, nickel and cobalt — resources that are increasingly vital and politically fraught. South Korea, home to some of the world’s most advanced battery makers, has an opportunity to lead. A strong policy framework could turn battery recycling from a looming liability into a new pillar of green growth. The question is whether policymakers will move fast enough before the first wave of used batteries becomes an environmental burden. The EV revolution was never only about cleaner cars. It was about building a cleaner economy. If the world hopes to realize that vision, the next great innovation must happen not in the lab or on the road — but in the recycling plant. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-11 09:46:03

Hyundai Motor signs strategic partnership with UK AI startup SEOUL, November 07 (AJP) - Hyundai Motor Group said on Friday that it has formed a strategic partnership with CuspAI, a British artificial intelligence startup, to accelerate the development of next-generation materials for mobility applications. The agreement was signed on Nov. 6 at CuspAI’s headquarters in Cambridge, England, where researchers are pioneering the use of generative AI, deep learning, and molecular simulation to design new materials with specific performance characteristics. Through the partnership, Hyundai said in a press release that it plans to apply CuspAI’s technology to improve the efficiency, durability, and safety of materials used in vehicles and future mobility platforms. “Hyundai Motor is pursuing material innovation from multiple directions to advance future mobility,” said Park Cheol, the company’s director of new business strategy. “This partnership will help address scientific challenges that conventional approaches could not solve and secure next-generation materials to strengthen our competitiveness.” Chad Edwards, chief executive of CuspAI, said the collaboration would unite AI research and large-scale manufacturing capabilities. “Next-generation materials are the only path to a sustainable future,” he said. “Our partnership with Hyundai, a global leader in engineering and manufacturing, will accelerate the building of that future.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-07 09:50:49

Majority of South Koreans distrust national pension system, survey finds SEOUL, November 05 (AJP) - More South Koreans say they distrust the national pension system than those who express confidence in it, according to a new survey highlighting deepening public skepticism toward the country’s social safety net. The poll, commissioned by the Korea Employers Federation and conducted by Mono Research, found that 55.7 percent of respondents do not trust the national pension system, compared with 44.3 percent who said they do. Distrust was most prevalent among workplace subscribers — those enrolled through their employers — with 57.8 percent expressing skepticism. Among regional subscribers, who pay independently, 51.8 percent said they did not trust the system. In contrast, 56.1 percent of voluntary subscribers, typically those more motivated to join, expressed trust in the pension. Generational differences were stark: respondents over 50 were more likely to trust the pension system, while younger adults in their 20s through 40s were significantly more doubtful. When asked about the burden of pension premiums, nearly seven in 10 respondents (69.7 percent) said they found the payments burdensome. Workplace subscribers, who split premiums with their employers, reported higher levels of strain (72.9 percent) than regional subscribers (62.2 percent), whose lower reported income and contributions may ease the perceived burden. As of late 2024, the average monthly premium stood at 306,985 won ($219) for workplace subscribers and 79,886 won for regional subscribers. Public sentiment also turned sharply negative toward the government’s recent pension reforms. Following an April amendment to the National Pension Act — which will raise contribution rates by 0.5 percentage points annually to 13 percent by 2026 — 73.4 percent of respondents viewed the changes unfavorably, while only 19.7 percent expressed support. Concerns about the system’s long-term sustainability were widespread. More than 80 percent of respondents said they worried that raising the income replacement rate to 43 percent by 2026 would expand benefits without addressing the pension fund’s looming fiscal shortfall. When asked what should be the top priority for pension reform, 30.7 percent of respondents cited ensuring the fund’s financial sustainability, followed by 27.6 percent who pointed to intergenerational fairness, and 18.4 percent who emphasized securing adequate retirement income. “Public trust is essential to any successful pension reform,” said Lee Dong-geun, executive vice chairman of the Korea Employers Federation. “It’s more important to assure people that they will receive benefits proportional to their contributions than to simply increase the payout rate.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-05 15:29:51

Hyundai Motor to cooperate with Singapore for development of hydrogen, low-carbon technologies SEOUL, November 03 (AJP) - Hyundai Motor Group has signed a memorandum of understanding with Singapore’s Economic Development Board to cooperate on the development of hydrogen and low-carbon technologies. Under the agreement, Hyundai will use its experience in fuel cell and hydrogen infrastructure to help Singapore identify and develop opportunities in hydrogen-based, low-carbon technologies. The EDB, a government agency under Singapore’s Ministry of Trade and Industry, will support Hyundai’s efforts to establish a hydrogen ecosystem in the city-state. Hyundai said it plans to expand its hydrogen business in Singapore, focusing on applications such as power generation and long-distance hydrogen transport. The company also intends to work with local partners to introduce hydrogen-powered vehicles, helping raise public awareness of cleaner energy alternatives and sustainable mobility. “This collaboration aligns with Singapore’s commitment to a low-carbon economy,” said Jingxin Zheng, director of mobility at the EDB. Park Jae-ha, who oversees Hyundai’s global hydrogen business, said government backing would be crucial to establishing the foundations of a hydrogen economy. “Through this partnership with EDB, we hope to develop policies and practical models that can accelerate hydrogen adoption,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 10:36:08

Hyundai Motor breaks ground on hydrogen fuel cell plant in Ulsan SEOUL, October 30 (AJP) - Hyundai Motor has begun construction of a large-scale hydrogen fuel cell plant in Ulsan, signaling its ambition to lead the global shift toward clean energy. The groundbreaking ceremony took place at Hyundai’s Ulsan complex, where the new facility will rise on the site of a former internal combustion engine transmission plant. The transformation, company officials said, reflects Hyundai’s commitment to making Ulsan a center for next-generation automotive technologies. The three-story plant, covering 95,374 square meters, will serve as Hyundai’s first domestic production base for polymer electrolyte membrane (PEM) electrolysis and hydrogen fuel cells. Once completed in 2027, it will produce up to 30,000 fuel cell systems annually under Hyundai’s hydrogen car brand. Hyundai is investing 930 billion won ($670 million) in the project and plans to expand output. Company officials say the facility will play a crucial role in building South Korea’s hydrogen economy and supporting the nation’s broader industrial transition. “The hydrogen fuel cell plant is a strategic base that reflects our commitment to a hydrogen society,” said Jang Jae-hoon, Hyundai’s vice chairman, during the ceremony. “We aim to supply fuel cells across diverse industries, from shipping to construction equipment, and to accelerate the development of a global hydrogen ecosystem.” Government officials also underscored their support for corporate investment in clean energy. Kim Sung-hwan, South Korea’s minister of climate and environment, said the administration would continue to back innovation in decarbonizing mobility and advancing hydrogen technologies. Hyundai Motor plans to make the new plant a showcase of advanced manufacturing, integrating artificial intelligence and robotics to boost efficiency and safety. A digital monitoring system will be installed to detect hazards in real time and protect workers on the production floor. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-30 13:57:14

Kia's electric van sets Guinness World Record for longest drive on single charge SEOUL, October 29 (AJP) - South Korean automaker Kia said on Wednesday that its PV5 Cargo electric van has set a Guinness World Record for the longest distance traveled by a light commercial electric vehicle on a single charge, covering 693.38 kilometers, or about 431 miles, while carrying a full load. “The Guinness World Record achieved by the PV5 Cargo demonstrates Kia’s vision to provide new mobility solutions beyond transportation,” said Song Ho-sung, the company’s president. “It proves the vehicle’s efficiency and practicality in real-world conditions.” The test, conducted on Sept. 30 on public roads north of Frankfurt, Germany, used a four-door PV5 Cargo equipped with a 71.2-kilowatt-hour battery and loaded to its maximum capacity of 665 kilograms, or about 1,465 pounds. The route, a 58.2-kilometer circuit of urban and suburban roads with repeated elevation changes, was designed to replicate the stop-and-go conditions of delivery operations. The drive was led by George Barrow, a commercial vehicle journalist, and Christopher Niggemeyer, a senior engineer at Hyundai-Kia’s European Technical Center. The two completed the course under GPS monitoring and with onboard cameras recording the trip. “It’s impressive that the PV5 Cargo can travel over 693 kilometers on a single charge with a full load,” Barrow said. “This record will be hard to beat.” Niggemeyer added that a deep understanding of the van’s powertrain system helped optimize energy efficiency and highlight “its remarkable driving capabilities.” The PV5 is Kia’s first purpose-built electric vehicle, developed on the company’s E-GMP.S platform — a next-generation architecture designed for modular, electrified commercial and passenger vehicles. The model features a low loading height, flexible cargo configuration, and software integration intended to suit a range of business applications. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 09:48:24