Journalist

Lee Seongjin
  • BYD makes fast inroads in Korea with sales nearing 5,000 EV cars
    BYD makes fast inroads in Korea with sales nearing 5,000 EV cars SEOUL, December 20 (AJP) -BYD, China’s largest electric-vehicle manufacturer, has rapidly established a foothold in South Korea’s imported-car market, breaking into the top 10 foreign brands within its first year of local operations. According to the Korea Automobile Importers & Distributors Association on Dec. 19, BYD sold 4,955 vehicles through November, accounting for 1.78 percent of the imported-car market. Based on recent sales momentum, full-year deliveries are expected to exceed 5,000 units. Only nine imported brands outsold BYD during the period: BMW (70,541 units), Mercedes-Benz (60,260), Tesla (55,594), Lexus (13,894), Volvo (13,388), Audi (10,252), Porsche (9,739), Toyota (8,751) and BMW MINI (7,180). In November alone, BYD ranked fifth among imported brands, trailing only Tesla, BMW, Mercedes-Benz and Volvo — a notable result for a newcomer. BYD entered the South Korean market in January and has expanded its footprint by emphasizing price competitiveness. The company now operates 28 showrooms and 16 service centers nationwide. Its local lineup debuted with the Atto 3 compact electric SUV, targeting value-oriented EV buyers, and has since expanded to include the Seal midsize electric sedan and the Sea Lion coupe-style midsize electric SUV. Industry analysts say BYD’s early gains have been supported by South Korea’s accelerating shift toward electrified vehicles, driven by Hyundai Motor and Kia’s electrification strategies as well as Tesla’s continued success. Through November, cumulative registrations of electrified vehicles — including battery EVs and hybrids — rose sharply from a year earlier, lifting their share to roughly one-third of new passenger-car sales. BYD’s momentum is also prompting other Chinese EV makers to formalize their Korea entry plans. Zeekr, the premium electric brand under Geely Holding Group, has recently signed dealer agreements with four local partners — H Mobility ZK, IronEV, KCC Mobility and ZK Mobility. Xpeng is also preparing to enter the market after establishing a South Korean unit in June. “BYD’s performance goes beyond a typical new-brand launch and signals a rapid shift in Korean consumers’ perceptions of Chinese EVs,” an industry official said. “The competitive landscape could look very different as early as next year.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-20 12:26:08
  • KAI secures Surion helicopter contracts worth 71 billion won
    KAI secures Surion helicopter contracts worth 71 billion won SEOUL, December 19 (AJP) - Korea Aerospace Industries (KAI) said Friday it has signed separate contracts to supply one Surion multipurpose helicopter each to the Korea Coast Guard and the Korea National Park Service. The Coast Guard contract is valued at 38.5 billion won, while the National Park Service deal totals 32.8 billion won, KAI said. Each contract covers one helicopter along with spare parts, ground support equipment and training for pilots and maintenance personnel. The helicopter for the Coast Guard will be equipped with a search radar, a high-performance electro-optical and infrared system, and an automatic identification system for ships to support maritime security and safety missions, the company said. The National Park Service helicopter will be configured for disaster response and will feature a newly developed firefighting water tank that is currently under development. Including the two latest contracts, KAI said it has secured orders for seven Surion helicopters for government use in 2025. In total, the company has signed contracts for 42 helicopters for government agencies, including the police, Coast Guard, forestry and fire services, and national parks, and has delivered 28 of them. KAI also delivered two firefighting helicopters to Iraq’s Interior Ministry in October under a contract signed last year, and that the aircraft have completed initial flights in preparation for operational deployment. KAI Chief Executive Cha Jae-byung said in a press release that he is pursuing overseas marketing based on the aircraft’s performance and mission equipment. 2025-12-19 16:09:47
  • Hyundai Motor Group sees China sales rebound
    Hyundai Motor Group sees China sales rebound SEOUL, December 19 (AJP) - Hyundai Motor’s operations in China are showing signs of recovery, supported by rebounding domestic sales and a strategy to turn its Chinese plants into export hubs. The pickup in vehicle production is also lifting parts maker Hyundai Mobis, which is on track to surpass 4 trillion won in China revenue for the first time in five years. Beijing Hyundai Motor, Hyundai’s China joint venture, sold 12,016 vehicles in November, up 71.7 percent from about 7,000 units a year earlier, according to industry officials, Friday. Monthly sales have increased steadily in the second half of the year, exceeding 10,000 units for four consecutive months since August. The Elantra, marketed in South Korea as the Avante, led sales with cumulative deliveries of 55,094 units through November. The Tucson sport utility vehicle also rebounded, recording monthly sales of more than 2,000 units since the start of the second half. A Hyundai Motor official said the company is focusing on models that can improve profitability, including a refreshed Tucson and an updated model-year Custo. Exports have emerged as another key growth driver. Cumulative exports through November totaled 60,573 units, up 55.4 percent from a year earlier, supporting higher plant utilization. Beijing Hyundai's total sales this year have climbed 13.8 percent to 176,130 units, already surpassing its full-year total for last year. Kia’s China operations have also improved. Cumulative sales through October rose 5.2 percent from a year earlier to 210,175 units, with the automaker posting steady growth since 2023. The recovery at Hyundai and Kia has translated into stronger results for Hyundai Mobis. The auto parts supplier posted cumulative China revenue of 2.8 trillion won through the third quarter, up 16.7 percent from a year earlier. That marked its highest third-quarter cumulative figure since 2020, when it reached 2.81 trillion won, putting an annual return to the 4 trillion won level within reach. In 2020, Hyundai Mobis recorded annual China revenue of 4.11 trillion won. Beyond affiliate-related demand, Hyundai Mobis is seeking to expand orders from Chinese automakers. To strengthen its China business, the company has selected eight strategic products for eight key customers and aims to quadruple local original equipment parts orders by 2028. Hyundai Mobis CEO Lee Gyu-seok said at the company’s CEO Investor Day in August that he would intensify efforts in emerging markets, including China and India, by developing locally tailored specifications and reinforcing its parts supply chain. 2025-12-19 08:33:10
  • Weapons testing deal to sharpen KF-21 fighter jets strike capability
    Weapons testing deal to sharpen KF-21 fighter jet's strike capability SEOUL, December 18 (AJP) - Korea Aerospace Industries (KAI) said on Thursday it has signed a contract with South Korea’s Defense Acquisition Program Administration (DAPA) to conduct additional weapons testing for the KF-21 fighter jet. The contract is valued at 685.9 billion won ($500 million) and is intended to support continued development of the aircraft by enabling flight-test verification of air-to-ground capabilities, KAI said. The additional weapons testing program will run through December 2028. Under the plan, testing and performance verification will expand the KF-21’s operational envelope from its current focus on air-to-air weapons to include air-to-ground armaments. KAI said it will also conduct tests of air-to-ground functions for the aircraft’s active electronically scanned array (AESA) radar and other core avionics, with the goal of securing broader combat capability by the end of the program. Based on the test results, KAI said it plans to begin sequentially fielding air-to-ground capabilities from the first half of 2027, earlier than the original target of the end of 2028. The expanded weapons capability is expected to enhance the KF-21’s competitiveness in the global fighter aircraft market and increase interest from overseas customers, the company said. KAI is currently producing the first mass-production batch of the KF-21, with deliveries to the South Korean Air Force scheduled to begin sequentially in the second half of 2026. The company said a number of countries, including those in the Middle East and Southeast Asia that already operate the FA-50 light attack aircraft, have expressed strong interest in the KF-21. “Successfully carrying out the phased test and evaluation of additional KF-21 armaments will provide an opportunity to demonstrate testing and verification capabilities tailored to future customer requirements,” KAI CEO Cha Jae-byung said. 2025-12-18 16:03:16
  • Hyundai Motor Group conducts executive reshuffle, naming 4 new presidents
    Hyundai Motor Group conducts executive reshuffle, naming 4 new presidents SEOUL, December 18 (AJP) - Hyundai Motor Group on Thursday carried out its regular executive reshuffle, promoting four senior executives to the rank of president. Manfred Harrer was promoted to president and continues to serve as head of the research and development divisions at Hyundai Motor and Kia Corp. Born in 1972, Harrer holds a master’s degree in mechanical engineering from Munich University of Applied Sciences and a doctorate in mechanical engineering from the University of Bath in the United Kingdom. Before joining Hyundai Motor Group last year, Harrer worked at Porsche AG, where he served as vice president overseeing chassis and advanced driver-assistance systems development. He later led vehicle integration for Apple Inc.’s electric vehicle development project. Since joining the group, Harrer has led efforts to strengthen core vehicle performance as vice president in charge of vehicle development within the R&D division. As R&D chief, Harrer is expected to work closely with software and related divisions to further enhance the group’s technological competitiveness, particularly in its push toward software-defined vehicles. Jung Jun-cheol was promoted to president and named head of the manufacturing division at Hyundai Motor and Kia. He oversees the Manufacturing Solution Division, which is responsible for production technology, as well as the Purchasing Division, a key function for profitability and supply-chain management. Hyundai Motor Group said Jung is expected to focus on building a software-centered production system and advancing next-generation manufacturing technologies, including robotics. Yoon Seung-kyu was promoted to president and will serve as head of Kia America. He previously led the automaker’s sales operations in the United States and Canada. The group credited Yoon with delivering more than 8 percent year-on-year growth in retail sales despite a challenging competitive environment, helping strengthen Kia’s position in the global market. Lee Bo-ryong was promoted to president and named chief executive officer-designate of Hyundai Steel. With more than three decades of experience in the steel industry, Lee has held senior roles across production, R&D and business operations. Lee’s engineering background and broad operational experience position him to enhance Hyundai Steel’s future competitiveness through the steady execution of large-scale strategic investments in facilities and technology, the company said. 2025-12-18 13:51:18
  • Ferrari selects Samsung Display OLED panels for next-generation vehicles
    Ferrari selects Samsung Display OLED panels for next-generation vehicles SEOUL, December 16 (AJP) - Ferrari will adopt automotive organic light-emitting diode (OLED) panels from Samsung Display for its next-generation vehicles, as the luxury sports carmaker seeks to enhance in-car digital experiences through advanced display technology. The Italian automaker said Tuesday Samsung Display’s panels were selected for their ability to support the innovative designs and form factors required for Ferrari’s future models. “Samsung Display’s expertise in designing and manufacturing thin and lightweight OLED panels is a clear advantage in enhancing the digital environment of Ferrari’s next-generation models,” Ernesto Lasalandra, Ferrari’s chief research and development officer, said in a statement. “In the luxury segment, improving the customer experience is key, and Samsung’s support was essential in introducing unprecedented custom advanced display solutions in the automotive industry,” he added. Lasalandra said the partnership reflects broader industry trends, including digitalization, user experience and premium branding, and highlights the growing role of cross-industry technology collaboration in driving automotive innovation. Park Jin-woo, executive vice president of Samsung Display, said the agreement underscores the South Korean company’s technological leadership in advanced displays. “When thinking of the world’s most iconic high-performance sports cars, Ferrari is the brand that comes to mind,” Park said, adding that both companies share values of passion, continuous innovation and a commitment to excellence. “Through this partnership, we aim to deliver exceptional value to consumers and further strengthen Samsung Display’s position as a leader in next-generation display innovation,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 14:27:57
  • Korean Air chief donates 100 million won to athletes ahead of Winter Olympics
    Korean Air chief donates 100 million won to athletes ahead of Winter Olympics SEOUL, December 15 (AJP) - Hanjin Group chairman and Korean Air president Cho Won-tae on Monday donated 100 Korean million (about US$70,000) to support athletes preparing for the upcoming Winter Olympics in northern Italy in February next year. Cho, who currently serves as Vice President of the Korean Sport & Olympic Committee, toured key facilities at a national team training center in Jincheon, North Chungcheong Province, encouraging athletes including short-track speed skaters and coaches. Cho has also led the Korea Volleyball Federation since 2017, with the country's flagship carrier actively supporting sports through its men's professional volleyball team and women's table tennis team. Meanwhile, the quadrennial sporting event on snow and ice will kick off its month-long run in Cortina d'Ampezzo and Milan on Feb. 6. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 15:32:00
  • Veteran German engineer to lead Hyundai Motor Groups R&D
    Veteran German engineer to lead Hyundai Motor Group's R&D SEOUL, December 11 (AJP) - Hyundai Motor Group is preparing to name Manfred Harrer, its vice president for vehicle development, as the new head of research and development, industry sources said on Thursday. Harrer is expected to be promoted to president and take charge of the R&D division as part of the automaker’s annual executive reshuffle, according to officials at Hyundai’s Namyang R&D Center. The group’s current R&D chief, Yang Hee-won, is scheduled to hold a retirement ceremony on Dec. 15 at the Namyang facility. A veteran engineer with 25 years of experience at Audi, BMW and Porsche, Harrer also worked on Apple’s long-running electric vehicle initiative before joining Hyundai last year. Since then, he has overseen development of high-performance models, including the Genesis GV60 Magma. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 15:31:26
  • South Koreas LIG Nex1 seeks to localize chips for AESA, SAR radar systems
    South Korea's LIG Nex1 seeks to localize chips for AESA, SAR radar systems SEOUL, December 05 (AJP) - South Korean defense contractor LIG Nex1 has launched a project to develop key semiconductors for active electronically scanned array (AESA) and synthetic aperture radar (SAR) systems using fully domestic technology. The company said it signed agreements on Nov. 28 with the Defense Technology Promotion Research Institute to co-develop X-band common monolithic microwave integrated circuit (MMIC) and front-end module platforms for AESA radar, as well as broadband MMIC and front-end module platforms for unmanned aerial vehicle (UAV) SAR systems. The AESA radar semiconductors will serve as essential components for multifunction radars, fighter aircraft, stealth UAVs and wideband radar platforms. The joint program aims to produce compact, high-performance chips capable of meeting next-generation weapon system requirements. Defense-grade semiconductors are core elements for radar, precision-guided weapons and battlefield communications. South Korea currently depends heavily on foreign suppliers, raising concerns over potential vulnerabilities in the event of global supply chain disruptions. LIG Nex1 is already developing an air-cooled AESA radar for overseas markets. Successful localization of radar semiconductors would ensure a stable component base for upcoming high-performance AESA radar programs spearheaded by the Defense Science Research Institute. The initiative is seen as a significant step toward bolstering technological self-reliance in radar and broader defense systems, the company said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-05 17:22:26
  • Kia marks 80th anniversary with pledge to lead future mobility
    Kia marks 80th anniversary with pledge to lead future mobility SEOUL, December 05 (AJP) - Kia President Song Ho-sung pledged to accelerate innovation across electric and purpose-built vehicles as the automaker marked its 80th anniversary on Friday. “We will continue to innovate with various electric and purpose-built vehicle models to become a centennial company,” Song said at a commemorative event held in Yongin, south of Seoul. Reflecting on Kia’s evolution to a global brand, Song credited the company’s resilience to founder Kim Chul-ho’s vision of advancing national industrial capability through technology. He noted that Kia endured multiple crises by introducing new models and pursuing fresh business directions. Since joining Hyundai Motor Group, Kia has expanded its global presence under successive leadership. Song highlighted Honorary Chairman Chung Mong-koo’s emphasis on quality and Chairman Chung Eui-sun’s focus on design and innovation as key drivers of growth. He also underscored the company’s efforts to strengthen organizational culture and lead in next-generation mobility solutions. Song cited ongoing challenges, including shifting global trade policies, supply-chain disruptions, rapid advances in AI-based mobility technology, and rising competition from Chinese automakers. Kia, he said, plans to address these pressures by doubling down on its core mission of providing innovative mobility solutions. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-05 13:57:39