Articles by Cho Chung-un
Cho Chung-un
christory@heraldcorp.com-
Hyundai Mobis to supply homegrown radar, camera sensor for commercial vehicles
South Korean auto parts maker Hyundai Mobis said Tuesday it will supply collision-warning features including radar and camera sensors, developed in-house, for Hyundai Motor’s commercial vehicles starting September.The forward-looking sensor and radar automatically detect objects that are up to 170 meters ahead, and reduce the speed of vehicles to avoid collision with other vehicles. Hyundai Motor is applying such driver-assist features in its commercial vehicles for the first time. Mobis&r
Mobility Aug. 13, 2019
-
Tesla Model 3 launches in Korea
US carmaker Tesla Motors’ Model 3 landed in South Korea on Tuesday, with the local branch starting to receive orders via its website. The price of the Model 3 starts from 52 million won ($43,000) without a government subsidy of 9 million won. The company plans to request for state subsidies. The first batch of the Model 3 will be delivered to customers starting in the final quarter, it said in an email statement. The smallest sedan by Tesla has three trims, including a high-performance ver
Mobility Aug. 13, 2019
-
Lotte chief meets Israeli minister for startup investment
Lotte Group Chairman Shin Dong-bin met Israel’s Economy Minister Eli Cohen to discuss ways to strengthen partnership with tech companies and startups in the Middle Eastern country, the South Korean food and retail giant said Monday.During a meeting in Jerusalem on Sunday, the chairman told the minister that Lotte plans to invest in Israel’s innovative companies in the areas of agriculture, robots and artificial intelligence for the group’s future growth. Minister Cohen, in resp
Industry Aug. 12, 2019
-
[News Focus] Hanwha Chemical-Q Cells merger draws eyes to heir, solar biz
A decision to have Hanwha Chemical Corp. absorb its wholly owned subsidiary Hanwha Q Cells & Advanced Materials drew market interest this week not just because of the move aimed to boost solar power business, but also the indication that the group may be laying the groundwork for a leadership transfer to the chairman’s son.Hanwha Q Cells & Advanced Materials is a global manufacturer of solar power modules and automotive lightweight materials.It has been led by Executive Vice Presid
Industry Aug. 1, 2019
-
[News Focus] Amid intensifying market volatility, Samsung to face more uncertainties in H2
Samsung Electronics’ operating profits halved in the second quarter on weak chip prices and poor mobile sales, but it is expected to face even more challenges in the second half of the year due to increased uncertainties over trade disputes and the nearing trial to determine the fate of its de facto leader. The South Korean IT giant’s sales slid 4 percent to 56.1 trillion won ($47.4 billion), but its operating profits plunged 55.6 percent on-year to 6.59 trillion won over lower memor
Technology July 31, 2019
-
Indonesian minister confirms Hyundai’s new plant
An Indonesian Cabinet member has confirmed Hyundai Motor’s plan to build a new manufacturing factory with a $1 billion investment into the country, according to local media. Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan said he met the carmaker’s de facto leader Chung Euisun on Friday to discuss the investment plan and that the carmaker has secured a plot for construction on western Java Island, Indonesian newspaper Kompas reported Sunday. The planned factory wil
Mobility July 29, 2019
-
[From the Scene] Posco steels itself for green car era
SONGDO, Incheon – As vehicles increasingly shift from gasoline to electric power, attention is turning to whether lighter materials such as carbon fiber reinforced polymers and aluminum will replace steel in car parts, frames and bodywork. But South Korean steel giant Posco thinks there is hope for steel yet. It is aiming to keep carmaker clients by offering lighter but stronger kinds of steel. The strategy comes thanks to a highly engineered marketing solution devised by its research and
Industry July 28, 2019
-
Hyundai Motor to launch AI center in Silicon Valley this year
Hyundai Motor Group plans to launch a research unit of its artificial intelligence division in the heart of Silicon Valley within this year, establishing its first overseas division entirely for AI development, the company said Thursday.The AIR Center will be the latest addition to Hyundai Motor’s AI projects. The carmaker launched the Artificial Intelligence Research Lab late last year and hired Kim Jeong-hee, a South Korean expert in deep learning and former leader of Naver Lab’s i
Mobility July 25, 2019
-
Hyundai Motor chief meets Indonesian leader for future investments
Hyundai Motor Group Executive Vice Chairman Chung Euisun on Thursday held talks with Indonesian President Joko Widodo to discuss the carmaker’s market entry and future investment plans, according to the company.Chung is the first South Korean conglomerate leader to meet President Widodo after his election victory in May. During the meeting held at the presidential palace in Jakarta, the Indonesian leader reportedly sought more investments by Hyundai in the country, touting the carmaker as
Mobility July 25, 2019
-
Ex-Hyundai, Kia executives indicted over delayed engine recall
The prosecution on Wednesday indicted former executives of Hyundai Motor and Kia Motors on charges of delaying recall processes in Korea for 18 months, though they were allegedly aware of engine defects.According to the Seoul Central District Prosecutors’ Office, three former executives who were responsible of product quality between 2015 and 2017 were indicted on charges of violating the Motor Vehicle Management Act.The companies were aware of problems such as engine stalls, connecting ro
Mobility July 24, 2019
-
Doosan Heavy to export parts for US small modular reactor
Doosan Heavy Industries & Construction, South Korea’s industrial equipment maker has agreed to provide key parts needed for construction of a small modular reactor in the United States, the company said Wednesday.Under a partnership with NuScale Power, the South Korean company will supply parts crucial for a nuclear steam supply system and other parts for the SMR. SMR is a new kind of light water reactor for a nuclear power plant. The project is a part of a plan between NuScale a
Mobility July 24, 2019
-
Renault Samsung’s SM6 offers premium quality at affordable price
Renault Samsung, the South Korean unit of French carmaker Renault, has released an upgraded version of its premium sedan SM6 while keeping its price down, amid intensifying competition in the midsized sedan market, the company said Wednesday.The company has added the upper-end premium model SM6 Premiere and a liquefied petroleum gas version of the vehicle to cater to the diversifying needs of customers. Emphasizing the premium features of the sedan, the company said it has applied the Bose surro
Mobility July 24, 2019
-
Sale process of Asiana Airlines to begin this week
Creditors and Kumho Industrial, the largest stakeholder of Asiana Airlines, will post a public notice to sell the nation’s second-largest air carrier on Thursday, which is likely to be the largest deal of the year.After completing a financial review of the air carrier, creditors said they would speed up the bidding process, if no additional insolvent factors or problems that would complicate the company’s operations are found. Officials at Asiana Airlines confirmed that there’s
Industry July 23, 2019
-
BAT Korea names first Korean CEO
British American Tobacco Group has named Kim Eui-soung, a cross-border industry marketing expert, as new chief executive officer and president of its South Korean unit, the company said Monday.Kim replaces Matthieu Juery who led BAT Korea for two years, becoming the first Korean head of the tobacco maker’s local unit launched 29 years ago. The change comes amid intensifying market competition in the fast-changing tobacco market here along with the rise of new types of cigarettes. BAT Korea
Industry July 22, 2019
-
Despite labor tension, Hyundai Motor’s Q2 profit jumps
Amid growing tension between the management and unionized workers, Hyundai Motor said Monday it saw its operating profit rise 30 percent in the second quarter chiefly on the weaker Korean won and sales of new sport utility vehicles.The South Korean carmaker said in a regulatory filing that it earned an operating profit of 1.23 trillion won ($1.04 billion), a 30.2 percent on-year increase, crossing the 1-trillion-won mark for the first time in seven quarters. Hyundai sold lesser cars, but both it
Mobility July 22, 2019
Most Popular
-
1
Over 80,000 millionaires, 20 billionaires in Seoul: report
-
2
Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
-
3
Korean battery makers heave sigh of relief over 2-year IRA reprieve
-
4
Young Korean doctors seek plan B: cosmetic dermatology or overseas
-
5
South Korea open to Indonesian proposal to cut KF-21 payments
-
6
Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
-
7
Korea forecast to overtake Taiwan in chip production by 2032: report
-
8
Coupang earnings hit hard by losses from ailing Farfetch
-
9
[K-pop’s dilemma] Time, profit pressures work against originality
-
10
Why femicide and dating violence are growing issues in S. Korea