Industry

  • Consumers show guarded welcome to rule changes for free use of autogas
    Consumers show guarded welcome to rule changes for free use of autogas SEOUL -- Consumers showed guarded welcome to new rules on autogas after the government allowed the free use of liquefied petroleum gas for all motorists in an effort to reduce air pollution caused by fine dust and vehicle emissions. From Tuesday, any consumers in South Korea can buy LPG-fueled vehicles or convert their gasoline or diesel-powered vehicles to use autogas, the common name for LPG, which is cleaner and cheaper than traditional fuels. Previously, LPG March 26, 2019
  • Kia Motors transforms auto plant in China to produce electric vehicles
    Kia Motors transforms auto plant in China to produce electric vehicles SEOUL --​ South Korea's second-largest automaker Kia Motors will stop the production of its models at the joint-venture plant in Yancheng to transform it into an electric vehicle plant to be run by its Chinese partner. The switch followed operating losses for a second consecutive year. In 2002, Kia, an affiliate of the Hyundai auto group, set up Dongfeng Yueda Kia (DYK) Motors, a joint venture with Dongfeng Motor, a state-owned automobile manufacturer based in Wuh March 20, 2019
  • LG Electronics becomes strategic member in AUTOSAR technology partnership
    LG Electronics becomes strategic member in AUTOSAR technology partnership SEOUL -- South Korea's LG Electronics has upgraded its membership in AUTOSAR, a development partnership of vehicle manufacturers, suppliers, service providers and companies, for its role in developing software standards for next-generation vehicles. LG said Monday it has been recognized as a strategic member of AUTOSAR (Automotive Open System Architecture), which implemented five different partnership types -- core, strategic, premium, development and associa March 4, 2019
  • Renaults electric vehicles to use self-driving technology developed in S. Korea
    Renault's electric vehicles to use self-driving technology developed in S. Korea SEOUL -- France and South Korea will consider applying co-developed self-driving technology based on entry-level sensors to the mass production of Renault S.A.'s electric vehicles, according to the South's Ministry of Trade, Industry and Energy. The ministry said in a statement Tuesday that the proposed use of autonomous driving technology for Renault cars came at talks in Seoul between French and South Korean officials. The meeting was attended by Frenc February 19, 2019
  • Hyundai Motor agrees to invest in mini SUV joint venture at home
    Hyundai Motor agrees to invest in mini SUV joint venture at home Hyundai Motor workers shout slogans in a rally to oppose a new car plant in the southern city of Gwangju. SEOUL -- In a deal hailed by South Korean President Moon Jae-in as a win-win, Hyundai Motor agreed to invest in the construction of a new plant in cooperation with a municipal government to produce compact SUVs in the southern city of Gwangju. As a non-management investor, Hyundai will invest 53 billion won ($47 million) to acquire a 19 percent stake in the joint compa January 31, 2019
  • Hyundai auto group presents modest sales goal for 2019
    Hyundai auto group presents modest sales goal for 2019 SEOUL -- South Korea's Hyundai auto group presented a modest target for 2019 as sales last year were slower than expected at home and abroad amid concerns that domestic carmakers were losing competitiveness due to high production costs and an unfavorable external situation. In a regulatory filing on Wednesday, the group set this year's combined sales target at 7.6 million units -- 4.68 million by Hyundai Motor and 2.92 million by its affiliate Kia Motors. January 2, 2019
  • Hyundai builds new fuel cell plant to produce 500,000 FCEVs in 2030
    Hyundai builds new fuel cell plant to produce 500,000 FCEVs in 2030 SEOUL -- South Korea's Hyundai auto group disclosed a new roadmap to expand the annual production of hydrogen fuel cell electric vehicles (FCEVs) to 11,000 units in 2020 and 500,000 in 2030. The group earmarked 7.6 trillion won ($6.7 billion) for the expansion of FCEV facilities and research. "We will lead the industry trend as the first mover," Hyundai's executive vice chairman Chung Eui-sun said Tuesday in a statement in the groundbreaking ceremony of th December 11, 2018
  • Hyundai seeks structural change to focus on future businesses
    Hyundai seeks structural change to focus on future businesses Thomas Schemera SEOUL -- South Korea's Hyundai auto group set up two new organizations in charge of hydrogen electric vehicles and artificial intelligence for smart mobility solutions in a structural change that reflects the group's aggressive push for design innovation and the development of future technologies. The group said Monday that it established a fuel cell division and AIR (artificial intelligence research) Lab. Hyundai has promised to unveil mo October 29, 2018
  • Samsung Electronics unveils new auto-related solutions for smart vehicles
    Samsung Electronics unveils new auto-related solutions for smart vehicles SEOUL -- In an effort to tap deeper into the connected car industry, Samsung Electronics unveiled two auto-related solutions, Exynos Auto for mobile chip processors and ISOCELL Auto for image sensors, that would enable new driving experiences to next-generation smart vehicles. Kenny Han, vice president of Samsung's device solutions division, said in a statement that the new automotive brand solutions would bring Samsung's market-proven technologies to automotive October 16, 2018
  • Posco trading arm agrees with car parts maker to set up joint supply chain abroad
    Posco trading arm agrees with car parts maker to set up joint supply chain abroad SEOUL -- Posco Daewoo, a trading company affiliated with South Koren steel giant Posco, agreed with domestic auto parts maker to set up a joint supply chain abroad and sell parts to global carmakers. The trading company said Thursday that it signed a memorandum of understanding with Sungwoo Hitech to make a joint entry into the global automotive downstream steel market. Upstream refers to the material inputs needed for production, while downstream is the opposite e September 13, 2018