An automotive industry study has found that American buyers of Hyundai Motor and Kia electric vehicles are less likely to have chosen the Korean EVs based on the US government’s tax benefits, raising hopes for the Korean automakers as they gear up for a second Donald Trump administration next year. According to a study published by US auto industry research firm J.D. Power last week, only 32 percent of Hyundai buyers and 24 percent of Kia buyers selected tax credits and incentives as a pri

진행자: 간형우, Chelsea Proctor ‘BYD will set no sales target in Korean debut year’ 기사 요약: 류쉐량 BYD 아시아태평양 영업사업부 사장 “내년 한국 출시 첫 해 판매 목표량 세우지 않을 것” [1] Chinese electric vehicle maker BYD will not focus on sales volume when it debuts in the Korean passenger car market early next year, the EV giant’s Asia Pacific head says. passenger car: 승용차 [2] “We will not set a sales target for our first year (in Korea), “said Liu Xueliang, general manager of BYD Asia Pacifi

The new X3, BMW’s latest sports utility vehicle, has come back as a premium mid-sized SUV that offers the comfort driving of a luxury sedan while looking more dynamic than ever. The Korea Herald got to ride the new X3 20 xDrive, a full-change model following the previous third generation that has been immensely popular in the global market since its launch in 2017, in a media test drive and launch ceremony held at the BMW Experience Center in Incheon on Thursday. The BMW X3 has led Korea&r

The Supreme Court has ruled in favor of a gamer who filed a lawsuit against Korean game developer Nexon for deceptively promoting the percentage of a loot box item in MapleStory, the mega-hit online game. The nation’s top court confirmed Thursday the appeals court ruling that ordered Nexon to give back 5 percent of the money a gamer surnamed Kim had spent on loot box items in the role-playing game Maple Story. It is the first time a court has sided with a gamer in a legal battle over in-ga

진행자: 간형우, Chelsea Proctor Jung's paternity reveal exposes where S. Korea stands on out-of-wedlock children 기사 요약: 정우성과 문가비 사이에서 태어난 아들이 조명한 혼외자에 대한 사회적 시각 [1] Actor Jung Woo-sung’s recent admission that he fathered a child with model Moon Ga-bi has reignited conversations in South Korea about societal attitudes toward children born out of wedlock. reignite: 다시 불을 지피다 wedlock: 결혼 [2] While Jung pledged to fulfill his responsibilities as a father without pursuing marriage, the public

Hyundai Motor has decided to invest $484 million in Malaysia to expand local production there as the Korean automaker looks to ramp up its presence in the burgeoning Southeast Asian market. According to Hyundai Motor on Wednesday, the automaker will make the investment over five years starting next year to upgrade its complete knock-down -- or CKD -- plant in Kulim in cooperation with local partner Inokom. The CKD plant expansion will mark Hyundai Motor’s largest investment in Malaysia yet

US President-elect Donald Trump is likely to use tariffs not only as a tool to protect American manufacturers but also as a way to ensure that trade negotiations are fair and expedited, a top Washington lobbyist says. “Trump has several administrative avenues to implement tariffs and his suggestion of a 10 percent universal tariff on all imports is still a possibility,” Brian Ballard, president of the Washington lobbying firm Ballard Partners, told The Korea Herald in a written inter

Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, is looking to expand relations with Chinese electric vehicle giant BYD in an apparent move to diversify its profit sources outside of Hyundai and Kia. According to industry sources Monday, a group of Hyundai Mobis officials visited BYD’s headquarters in Shenzhen last month. Currently, Hyundai Mobis supplies steering parts to BYD, the No. 1 EV maker in China. During the visit, sources say, the two companies discussed ways

SHENZHEN/CHONGQING, China -- The license plate on the Denza Z9, a high-performance electric vehicle produced by Chinese EV maker BYD, read “10,000,000th” as a group of Korean journalists entered the BYD’s final assembly factory in Shenzhen on Tuesday. BYD celebrated its 30th anniversary with the completion of its 10-millionth car at the manufacturing plant the previous day. The 10 assembly lines at the site were packed with BYD vehicles. A BYD official noted that the day’

CHONGQING, China -- Chinese electric vehicle maker BYD will not focus on sales volume when it debuts in the Korean passenger car market early next year, the EV giant’s Asia Pacific head says. “We will not set a sales target for our first year (in Korea), “said Liu Xueliang, general manager of BYD Asia Pacific auto sales division, in a group interview with Korean reporters at BYD’s headquarters in Shenzhen, China, Wednesday. “Our hope is to give Korean customers hand

Hyundai Motor Group is on track to report record-high spending for lobbying in the United States this year as the Korean auto conglomerate continues to ramp up its presence and influence in Washington, DC According to OpenSecrets, a Washington, DC-based nonprofit, nonpartisan organization that tracks and publishes data on campaign finance and lobbying, Hyundai Motor Company and Kia -- the two automakers under Hyundai Motor Group -- have spent $2.51 million on lobbying in the US as of the third q

Hyundai Motor Group appointed Jose Munoz, global chief operating officer at Hyundai Motor Co., as the next CEO of the auto brand on Friday, marking the conglomerate’s first-ever appointment of a foreign leader. The appointment is to take effect on Jan. 1. Munoz, a native of Spain and a US citizen, joined the Korean automaker in 2019 and has served as president and global COO of Hyundai Motor Co. as well as president of Hyundai and Genesis Motor North America. “Through strengthening d

Hanwha Group Chairman Kim Seung-youn has taken a top position at the conglomerate’s main defense affiliate, Hanwha Aerospace, to ramp up the firm’s global expansion. According to Hanwha Aerospace’s quarterly report released on Thursday, Kim has been appointed as the defense firm's chairman. With the newly given title, the Hanwha Group head now has five chair positions, at Hanwha Corporation, Hanwha Solutions, Hanwha Systems, Hanwha Vision and Hanwha Aerospace. “Chair

HD Hyundai announced new nominees to head its affiliates on Thursday as the Korean shipbuilding conglomerate aims to cope with changes in the global business environment in the wake of the US presidential election. HD Hyundai Vice Chairman Chung Ki-sun has been promoted to the group’s executive vice chairman. With the promotion, Chung is expected to play a bigger role in leading HD Hyundai’s key projects and eco-friendly and technological innovation, discovering future growth engines

LG Energy Solution has secured a contract to supply up to 8 gigawatt-hour energy storage systems to US renewable energy firm Terra-Gen, the Korean battery-maker announced Thursday. Under the deal, LG Energy Solution Vertech will deliver the ESS to Terra-Gen from 2026 to 2029. The Korean battery maker acquired NEC Energy Solutions, a grid battery integrator based in the US, in 2022 and renamed it LG Energy Solution Vertech. The deal marked the biggest supply contract since the launch of LG Energy

BYD will officially enter the Korean passenger vehicle market early next year, the Chinese electric vehicle maker's Korean office announced Wednesday. The announcement came after months of speculation over when BYD would launch its passenger EVs in the Korean market. BYD Korea already entered the commercial vehicle market in 2016 and has released electric buses and trucks here since then. BYD Korea said it has reviewed the feasibility of a passenger vehicle business in Korea over the past f

Hyundai Motor, in collaboration with Chinese partner Haomo, will launch its first Chinese-market-dedicated electric vehicle equipped with generative artificial intelligence technology next year. “We are working to load the software of Haomo, a local autonomous driving software firm, onto the EV, which will be released in the Chinese market next year,” said a Hyundai Motor official. “The level of autonomous driving is somewhere between 2 and 2.5.” With a scale of autonomou

Hyundai Motor has missed out on the United States tax incentives for its new $7.6-billion manufacturing plant -- Hyundai Motor Group Metaplant America -- in Bryan County, Georgia, but said the credit did not affect its investment in the plant. According to industry sources Monday, Hyundai Motor did not make the list of companies that will receive tax incentives in the second round allocations of the Qualifying Advanced Energy Project Credit, or 48C, which is an allocated tax credit funded by Pre

Korean shipbuilders are raising hopes to expand their presence in the US, following President-elect Donald Trump’s call for more bilateral cooperation in the shipbuilding sector. According to Seoul’s presidential office, President Yoon Suk Yeol and Trump had a 12-minute phone call Thursday morning after Trump won a second nonconsecutive presidential term. After exchanges of congratulations and gratitude, Trump specifically mentioned Korea’s shipbuilding capabilities and the US&

Korean automakers and battery-makers now face the daunting task of coping with a second Donald Trump administration, as they try to prepare various measures to weather the storm of uncertainties expected from the next president of the United States. Throughout his election campaign, Trump has openly criticized the Joe Biden administration’s Inflation Reduction Act and its Advanced Manufacturing Production Credit that have given financial benefits to Korean companies in the electric vehicle