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  • Hyundai Motor Group Launches Global V2X Initiative, Transforming EVs into Energy Platforms
    Hyundai Motor Group Launches Global V2X Initiative, Transforming EVs into Energy Platforms Hyundai Motor Group is launching a service that utilizes electric vehicles as mobile energy platforms.On July 21, the company announced the launch of its integrated global brand for energy services connecting vehicles and power, called 'AllDayEnergy.'V2X technology allows for two-way connections between electric vehicle batteries and the power grid, enabling cost savings on charging and the potential to supply power back to the grid for additional revenue. This system is designed to charge vehicles during off-peak hours when electricity rates are lower and supply power during peak demand times.Hyundai Motor Group plans to consolidate its previously country-specific V2X services under the AllDayEnergy brand, starting with a rollout in the UK and expanding to other key markets using the Hyundai vehicle app.In South Korea, a Vehicle-to-Grid (V2G) pilot project is underway in Jeju Island, where 40 owners of the Ioniq 9 and Kia EV9 are participating in a demonstration to connect their electric vehicles to the power grid. The project aims to validate the potential for using vehicle batteries as mobile energy storage systems (ESS) to stabilize the grid and facilitate energy trading.Industry experts believe that as electric vehicle adoption increases, the value of V2G technology will also grow. Korea Electric Power Corporation estimates that if 100,000 electric vehicles capable of bi-directional charging discharge simultaneously for one hour, they could supply approximately 1 gigawatt of power, enough for about 800,000 people for one hour.Globally, V2G services are rapidly expanding. Hyundai Motor Group operates a Vehicle-to-Home (V2H) service in the U.S. that allows electric vehicle power to be used as emergency backup for homes during natural disasters. In the Netherlands, the company offers a smart charging service (V1G) that automatically adjusts charging times based on electricity rates.Other automakers are also accelerating their commercialization efforts. In the UK, Nissan is offering V2G services to general consumers, while Volkswagen is pushing for V2G commercialization in Germany. China's BYD is introducing V2G-based electricity rate packages as part of its strategy to enter the energy services market.On the same day, Hyundai Motor Group announced the launch of the 'AllDayEnergy My Mind Savings' program in partnership with Hana Bank, offering subscribers an annual interest rate of up to 4.5%, discounts on electric vehicle sharing services, and dining coupons to encourage the expansion of V2X services.A Hyundai Motor Group official stated, 'By operating V2X services under the unified name of AllDayEnergy, we aim to provide customers with a consistent and reliable energy service experience. We will continue to expand various energy services to help global customers utilize their vehicles more economically and efficiently.'* This article has been translated by AI. 2026-07-21 10:32:00
  • Shinsegaes Yong-jin Jung Expands into Global Luxury Hotel Development
    Shinsegae's Yong-jin Jung Expands into Global Luxury Hotel Development Shinsegae Group announced its partnership with global real estate development company OKO Group to develop the premium hotel and resort brands Aman and Janu on July 21.According to Shinsegae Group, Chairman Yong-jin Jung and OKO Group Chairman Vladislav Doronin recently signed a joint venture agreement at the Chosun Palace Hotel in Seoul.The two companies plan to combine Shinsegae Property's large-scale development capabilities with OKO Group's expertise in luxury hotel construction to target the global hotel, residence, and real estate development markets. The joint venture aims to raise an initial investment of $500 million.The joint venture will initially focus on developing hotels and residences under the luxury brands Aman and Janu. Additionally, they plan to expand their collaboration in domestic and international commercial real estate development projects.Chairman Yong-jin Jung stated, "This reflects our confidence that Shinsegae Property's proven development model in Korea can be effectively applied to the global hospitality market. Through close cooperation and mutual complementarity, we will set new standards in the global luxury hospitality market."Chairman Doronin expressed, "It is a great honor to partner with Shinsegae Group, which has deep expertise in real estate development and finance. I resonate with Chairman Jung's long-term vision of creating unique projects that resonate with global travelers, residents, and communities." He added, "We will seek excellent development opportunities together on the global stage based on our respective expertise."Founded in 1988, the luxury hotel and resort brand Aman began with Amanpuri in Phuket, Thailand, and currently operates 36 hotels, resorts, and residences worldwide.Meanwhile, Shinsegae Group is expanding its new business ventures into real estate and artificial intelligence, having recently signed a memorandum of understanding with U.S. AI startup Reflection AI to establish a sovereign AI factory in Korea.* This article has been translated by AI. 2026-07-21 10:32:00
  • Celltrions Truxima Maintains 1st Place in U.S. Market Share for Four Consecutive Months
    Celltrion's Truxima Maintains 1st Place in U.S. Market Share for Four Consecutive Months Celltrion's blood cancer treatment, Truxima (rituximab), has strengthened its market dominance in the United States by maintaining the number one prescription share for four consecutive months. According to IQVIA, a pharmaceutical market research firm, Truxima recorded a 38.6% market share in May, continuing its lead since February. This marks a 2.8 percentage point increase from when it first achieved the top position in February, widening the gap with competing products, including original medications. Truxima is the first biosimilar from South Korea to secure the top market share in the U.S., earning recognition for gaining an edge over global pharmaceutical giants. The growth trend is expected to continue. Earlier this month, Truxima became the first rituximab biosimilar to receive 'interchangeability' status from the U.S. Food and Drug Administration (FDA). This allows pharmacies to substitute it for the original drug, potentially accelerating its penetration into the approximately 20% market share currently held by the original product. Other product lines are also showing stable growth in the U.S. The autoimmune disease treatment, Inflectra, maintained a leading position with a 30.4% market share during the same period, while Stexima (13.3%), Vegzelma (10.6%), and Uplizna (8.1%) are also expanding their presence in the market. Celltrion plans to sustain its growth by launching follow-up products in the second half of the year. Its U.S. subsidiary is preparing to release subcutaneous formulations of Abtozuma (tosilizumab) and Omniclo (omalizumab), aiming to establish a foothold in the market using its existing pharmacy benefit manager (PBM) network. A Celltrion representative stated, "Based on the sales performance of our key products, we will ensure that our upcoming launches can quickly capture the U.S. market." Meanwhile, Celltrion continues to report strong performance due to the expansion of high-margin new product sales and improvements in cost structure. The company recorded preliminary second-quarter revenues of 1.3 trillion won and an operating profit of 430 billion won, achieving the highest quarterly results in its history. Compared to the same period last year, revenues increased by 35.2%, and operating profit rose by 77.3%. The operating profit margin also improved from about 25% in the second quarter of last year to approximately 33% in the second quarter of this year. With increased sales of existing flagship products alongside new products like Remsima SC, Uplizna, and Stexima, the share of new products in total revenue has surpassed 60%.* This article has been translated by AI. 2026-07-21 10:28:00
  • LG Household & Health Care Targets North American Market with Yousimall and The Cream Shop
    LG Household & Health Care Targets North American Market with Yousimall and The Cream Shop LG Household & Health Care is accelerating its efforts to penetrate the North American beauty market by prominently featuring its toothpaste brand Yousimall and the locally inspired The Cream Shop. The company aims to enhance brand recognition through experiential marketing that allows consumers to directly verify product efficacy, alongside a rebranding strategy targeting younger demographics. The company announced on July 21 that it participated in Cosmoprof, North America's largest beauty trade show, held in Las Vegas from July 13 to 15 (local time), showcasing the distinctive brand innovations of Yousimall and The Cream Shop. Cosmoprof North America is a leading business-to-business beauty exhibition in the Americas, featuring global buyers, distributors, and brands. Making its debut at Cosmoprof, Yousimall decorated its exhibition space using the purple color of its flagship product, the Purple Corrector Toothpaste. The booth included a "Stain Lab" where visitors could experience the principles of teeth whitening, along with a large toothpaste sculpture and a photo opportunity area to promote both the product's functionality and brand image. The Purple Corrector Toothpaste utilizes the principle of complementary colors, visually correcting the yellow tones of teeth through an experiential program. This demonstration was featured on KTLA, a local broadcaster in Los Angeles, and Yousimall's exhibition space was selected as one of the top five booths in Cosmoprof's official content creator program. LG Household & Health Care's North American subsidiary, The Cream Shop, unveiled its newly revamped brand identity and product lineup at the event. The company plans to target American Gen Z and Alpha consumers by combining the essence of Los Angeles with K-beauty. The exhibition featured products such as "Kiss and Blush," which can be used on both lips and cheeks, as well as upcoming releases like "Heat Up Glow Up," "Cool Quench," and "Phone Crush." Inspired by Korean spas, Heat Up Glow Up and Cool Quench are mask products designed to manage pores and skin condition through warming and cooling effects, respectively. A "Kiss and Blush Charm Bar" allowed consumers to select embellishments to create their own personalized products. This experiential space received an award from the local beauty publication New You Magazine for its exhibition-related efforts. An LG Household & Health Care representative stated, "We will strengthen our experiential offline marketing, allowing consumers to experience the outstanding efficacy based on scientific research through their senses."* This article has been translated by AI. 2026-07-21 10:28:00
  • Canadian Prime Minister Carney Criticizes U.S. 50% Tariff as CUSMA Violation
    Canadian Prime Minister Carney Criticizes U.S. 50% Tariff as CUSMA Violation Canadian Prime Minister Mark Carney criticized the U.S. government's plan to impose a 50% additional tariff on Canadian products, stating that he will take all necessary measures to protect Canadian workers and businesses.According to a statement from the Prime Minister's Office on July 20, Carney said, "The U.S. government has announced plans to impose a new 50% tariff on a significant number of Canadian products. This is a continuation of a series of unilateral trade measures that directly violate the Canada-United States-Mexico Agreement (CUSMA)."Carney emphasized that this includes tariffs on the Canadian automotive industry, which he stated is a violation of CUSMA. He noted, "Canada has only responded at the same level as the U.S. actions, in accordance with our legitimate rights." He added that Canadians from coast to coast have united in response to these measures and threats to Canadian sovereignty, stating, "We have taken necessary actions to protect our economy, workers, farmers, businesses, and families."Earlier that day, President Donald Trump signed three proclamations imposing additional tariffs on Canadian products based on Section 338 of the Tariff Act of 1930. These measures are said to respond to Canada's discrimination against U.S. automobiles, alcohol, and dairy products. The new tariffs will take effect at 12:01 a.m. Eastern Time on August 19, 30 days after the proclamations were signed.Carney pointed out that the U.S. has been restructuring its overall trade relations, including with CUSMA countries, over the past 18 months. He stated, "Canada has put forward specific and comprehensive proposals to resolve this dispute and modernize CUSMA," adding that he is prepared to intensify discussions in the coming weeks.Carney reaffirmed Canada's commitment to free and fair trade, saying, "Canada believes in the benefits of free and fair trade, as evidenced by the new government signing over 20 economic and security partnerships."He also noted that this trade dispute has particularly increased costs for American households, expressing readiness to actively engage in talks with the U.S. to resolve outstanding issues for the benefit of both nations. Furthermore, he emphasized, "Under any circumstances, Canada will continuously strive to strengthen domestic capabilities and support workers, farmers, businesses, and families, taking all necessary measures to do so."* This article has been translated by AI. 2026-07-21 10:24:00
  • Kolon TissueGenes TG-C Fails to Show Efficacy in U.S. Phase 3 Trial
    Kolon TissueGene's TG-C Fails to Show Efficacy in U.S. Phase 3 Trial Kolon TissueGene's TG-C, a cell and gene therapy for osteoarthritis, has recorded a significant drop in stock value following news of its failure to demonstrate efficacy in a Phase 3 clinical trial in the United States.As of 9:14 a.m. on July 21, Kolon TissueGene's shares were trading at 42,900 won, down 18,300 won (29.90%) from the previous close, according to the Korea Exchange.On the previous day, after the market closed, Kolon TissueGene announced the primary results of the first Phase 3 trial (TGC-15302) for TG-C.The results indicated that TG-C did not achieve statistical significance compared to the placebo in all primary endpoints at the 12-month mark. This announcement marks the first of two Phase 3 trials conducted under the same conditions.Kolon TissueGene CEO Noh Moon-jong stated, "We believe that a larger-than-expected placebo response in this first trial significantly impacted the interpretation of the results. We are currently conducting a comprehensive analysis of various factors, including the possibility of differences in responses by institution, as confirmed in additional analyses."Based on these trial results, Kolon TissueGene plans to refine the development direction for TG-C. The company is expected to announce results from the second Phase 3 trial in the U.S. in October.On the same day, Korea Investment & Securities downgraded its investment opinion on Kolon TissueGene from 'Buy' to 'Neutral' based on the failure of the U.S. Phase 3 trial.* This article has been translated by AI. 2026-07-21 10:24:00
  • EL&F Expands Battery Recycling Business with CIS Chemical Partnership
    EL&F Expands Battery Recycling Business with CIS Chemical Partnership EL&F is expanding its battery recycling business in collaboration with CIS Chemical, focusing on NCM (nickel, cobalt, manganese) and LFP (lithium iron phosphate) batteries.On July 21, EL&F announced plans to invest in CIS Chemical and establish a recycling system that encompasses everything from the pretreatment of used batteries to the recovery of key metals in the post-treatment phase.Through its subsidiary JH Chemical Industry (JHC), EL&F has secured capabilities in pretreating used cathode materials and black mass. This investment aims to enhance post-treatment technologies for recovering key metals like lithium and nickel at high purity.CIS Chemical utilizes hydrometallurgical technology to recover lithium carbonate from LFP batteries. According to the company, the recovery rate for lithium carbonate is approximately 98%, and it has completed technology validation for LFP recycling for domestic clients.The two companies will work on developing high-purity clean MHP (mixed hydroxide precipitate) for NCM and commercializing LFP recycling. They also plan to collaborate on joint research and development of LFP re-materialization technology and undertake national projects.EL&F CEO Heo Je-hong stated, "This investment adds post-treatment technology to our existing pretreatment capabilities, allowing us to expand our supply chain for recycled materials and meet the circular economy demands of our clients."The battery recycling market is growing in response to regulations aimed at increasing the use of recycled materials. In South Korea, a law regarding the management and industrial promotion of used batteries was enacted in May, while the European Union is gradually implementing mandatory usage ratios for recycled materials.Additionally, EL&F has established a foundation for a 'ABB (AI, Big Data, Blockchain) Smart Factory' to proactively respond to global ESG regulations by integrating a life cycle assessment (LCA) system with a blockchain-based data space.* This article has been translated by AI. 2026-07-21 10:20:00
  • Hungary Investigates Allegations of Favoritism in BYD Deal Involving Former Foreign Minister
    Hungary Investigates Allegations of Favoritism in BYD Deal Involving Former Foreign Minister The former Hungarian foreign minister who led the country's efforts to attract investment from Chinese electric vehicle company BYD has recently taken a senior position at the company, sparking controversy. The Hungarian government has decided to investigate the subsidies and various benefits provided during the investment process.According to the South China Morning Post on July 21, Hungarian Prime Minister Péter Márki-Zay stated in parliament the previous day that "former Minister Péter Szijjártó mobilized hundreds of billions of forints in public funds, diplomatic support, and national infrastructure to assist BYD." He added, "We will investigate all decisions, negotiations, and national commitments he made regarding BYD's investment in Hungary."The investigation will focus on government subsidies, tax benefits, various permits, environmental regulation relaxations, and infrastructure projects funded by the state.Márki-Zay emphasized, "We will determine who made these decisions, who prepared them, and what professional warnings were ignored. We will also clarify the burden this has placed on taxpayers, workers, communities, and the environment."This investigation follows Szijjártó's announcement on social media on July 15 that he would resign from his parliamentary position to join BYD as an executive. He described the role as a "honorable opportunity" to work for one of the most successful companies in the automotive industry, responsible for external relations and new business development.The transition of a former foreign minister to a BYD executive has raised concerns about potential conflicts of interest.There are also worries regarding security issues. The Nihon Keizai Shimbun reported that since Szijjártó had access to confidential diplomatic information during his tenure, there are concerns that sensitive information related to the European Union and other matters could be leaked to China. According to Chinese law, private companies cannot refuse to provide information related to national security if requested by the government.Szijjártó served as foreign minister for about 12 years under former Prime Minister Viktor Orbán and was active in attracting investments from China. He played a key role in bringing BYD's first European production facility to Hungary in 2023, which is seen as a strategic site to bypass additional tariffs imposed by the European Union on Chinese electric vehicles.In 2025, BYD announced plans to establish its European headquarters and research and development center in Budapest, with the Hungarian government promising 20 billion forints (approximately $934 million) in financial support.The Orbán government has pursued a strategy to develop Hungary into a European battery production hub by attracting Chinese battery and electric vehicle companies. However, there has been significant opposition from residents, environmental groups, and the political opposition, citing concerns over pollution, water resource depletion, and increased dependence on China.* This article has been translated by AI. 2026-07-21 10:16:00
  • Kiaf Seoul 2026 Explores Coexistence in the Age of AI
    Kiaf Seoul 2026 Explores Coexistence in the Age of AI Kiaf Seoul 2026, the largest art fair in South Korea, has chosen 'coexistence' as its theme this year. In an era of rapid advancements in artificial intelligence (AI) and digital technology, the fair aims to find a balance between humanity and technology through art.Kiaf Seoul announced on July 21 that it will connect reality and the virtual world through two exhibitions: 'HUMAL' and 'VIRTUAL VITAL.'The offline exhibition 'HUMAL' explores human instincts and physicality, focusing on the latent instincts and vitality beneath the civilized self, as suggested by its title, which combines 'Human' and 'Animal.' Seven artists, including Kang Geon, Kwak Ji-soo, Seong Byeong-hee, Oh Hyung-geun, Lee Dong-wook, Lee Hwan-gwon, and Hwang Soo-yeon, will interpret coexistence through various media such as sculpture, installation, painting, and photography. The works will be displayed at each artist's booth rather than in a separate exhibition hall.'VIRTUAL VITAL,' an augmented reality (AR) extension of 'HUMAL,' allows visitors to experience the artists' works in a digital space. Attendees can scan QR codes placed throughout the exhibition to view the artworks in augmented reality, creating an experience where reality and the virtual coexist. Details about the participating artists and further information will be released in August.A talk program organized in collaboration with the Arts Management Support Center (KAMS) and Frieze Seoul will feature discussions on topics such as 'Nam June Paik in the Age of AI,' 'Biennales and Curatorial Practices,' and 'Collectors' Talks,' where art figures from Korea and abroad will examine contemporary art trends.The fair will also expand the intersection of art and music. On September 4, the Coex Auditorium will host pianist Cho Seong-jin's performance titled 'Kiaf Classic: Resonance of Coexistence with Seong-Jin Cho.'Kiaf Seoul 2026 will take place from September 2 to 6 at Coex in Seoul. A joint press conference with Frieze Seoul is scheduled for August 19, where key programs, including the special exhibitions, will be officially announced.* This article has been translated by AI. 2026-07-21 10:16:00
  • China Raises Zirconium Prices, Pressuring MLCC Costs
    China Raises Zirconium Prices, Pressuring MLCC Costs China has announced a price increase for zirconium compound products, which is expected to raise the costs of multilayer ceramic capacitors (MLCCs).On the evening of July 20, Chinese chemical company Guozi Cailiao announced via the Shanghai Stock Exchange that it will raise the selling price of zirconium oxide (zirconia) powder products by up to 40% starting July 27.Guozi Cailiao is a leading ceramic materials company in China. Zirconium oxide is considered a high-value product among ceramic materials. Given Guozi Cailiao's price hike, other ceramic material companies in China are also expected to follow suit with increases in zirconium oxide prices.Zirconium is primarily mined in Australia and South Africa. The mined zirconium is imported to China, where it undergoes refining and processing to become zirconium oxide. China holds about 80% of the global market share in the production of zirconium chemical products, particularly dominating the production of zirconium oxychloride, an intermediate step in making zirconium oxide, with a 90% share worldwide. Therefore, Guozi Cailiao's price increase is likely to impact the global market.Zirconium oxide is used in dental prosthetics and the manufacturing process of MLCCs. The surge in demand for MLCCs, driven by the boom in AI data center establishments, has led to an increase in the demand for zirconium oxide, contributing to the price rise. As the price of zirconium oxide, a key material for MLCCs, increases, it is anticipated to drive up MLCC prices as well.A source within the industry in China noted, "As the price of zirconium oxide rises, MLCC manufacturers may also consider adjusting their product prices."* This article has been translated by AI. 2026-07-21 10:16:00