Articles by Moon Joon-hyun
Moon Joon-hyun
mjh@heraldcorp.com-
Hyundai Motor India files for record $3b IPO
Hyundai Motor India has officially submitted an initial public offering application to the Securities and Exchange Board of India to raise approximately $3 billion, potentially setting a record as the largest IPO in the country’s history. On Monday, Hyundai confirmed in a corporate disclosure that it has submitted a Draft Red Herring Prospectus to SEBI, initiating the IPO process for Hyundai Motor India Ltd., its local subsidiary. It marks a significant step in expanding both Hyundai&rsquo
Mobility June 17, 2024
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HD Hyundai marks Veterans Month with gravesite cleanups
HD Hyundai organized gravesite cleanup services at Seoul National Cemetery and Yeongcheon National Cemetery in North Gyeongsang Province to honor the Korean Patriots and Veterans Month of June. A total of 140 employees participated in these volunteer services on June 14 and May 24. They began by paying respects to individuals of national merit followed by weeding, planting flowers, polishing tombstones and maintaining flags. In South Korea, individuals of national merit are recognized for signif
Companies June 16, 2024
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Hyundai Rotem wins bullet-train export deal from Uzbekistan
For the first time, a Korean high-speed rail vehicle will be deployed internationally, with Uzbekistan as the destination. Hyundai Rotem announced Friday that it has secured a 270 billion won ($194 million) contract to supply and maintain power-distributed high-speed trains for Uzbek Railways in collaboration with the Korea Railroad Corporation. Hyundai Rotem is a Korean rail transport manufacturer that pioneered the nation’s first high-speed rail system, the Korea Train Express, in 2004.
Industry June 16, 2024
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[KH explains] Why Korean battery companies are key to Tesla's 2170 upgrade strategy
South Korean battery material companies are emerging as key players in Tesla's revamped supply chain as the carmaker upgrades its 2170 battery cells -- integral to its most popular models. Tesla's initiative to enhance battery performance centers on upgrading the anode and cathode materials, which are critical for improving energy density and charging speeds. The anode, which determines how much energy the battery can store, directly impacts the driving range of electric vehicles. Mean
Mobility June 16, 2024
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Doosan chief, Kazakh president discuss key energy collaborations
Doosan Group Chairman Park Jeong-won met with Kazakh President Kassym-Jomart Tokayev in Astana to discuss energy sector collaboration, as part of his role in the economic delegation accompanying South Korean President Yoon Suk Yeol on a state visit to Central Asia. Chairman Park and President Tokayev met Wednesday at the Hilton Astana Hotel, accompanied by high-ranking officials and executives including Kazakhstan's Minister of Energy Almassadam Satkaliyev, Samruk-Kazyna CEO Nurlan Zhakupov
Mobility June 13, 2024
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SK, China's Geely partner on EV innovation
SK Inc., the investment arm of South Korea's SK Group, has announced a partnership with China's Zhejiang Geely Holding Group to advance green mobility initiatives, focusing on electric vehicle batteries and automotive electronics. This collaboration aims to integrate SK's business development capabilities with Geely's expertise in mobility technology. The partnership was formalized with the signing of a framework agreement Wednesday. The global networking efforts of Chey Jae-
Mobility June 12, 2024
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LG-GM joint venture workers win 30% wage hike
LG Energy Solution and General Motors' joint venture, Ultium Cells, have tentatively agreed to a 30 percent wage increase over the next three years, significantly boosting worker pay amidst concerns about rising production costs. The United Auto Workers announced Monday that their local chapter at the Ultium Cells plant in Warren, Ohio, has reached a preliminary agreement with the company. This tentative deal still requires ratification by union members. UAW President Shawn Fain stated that
Mobility June 11, 2024
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Ongoing scrutiny plagues Act-Geo's credentials
The proposed deepwater oil and gas field development off the coast of Yeongil Bay in Pohang, South Korea, is under intense scrutiny, with debates surrounding the reliability of the discovery and the credibility of Act-Geo, the US consulting firm behind the survey. The Ministry of Trade, Industry and Energy has been actively addressing these concerns, including allegations of a fake Korean-language website for Act-Geo that was quickly found to be fraudulent on Monday. Doubts about Act-Geo's
Industry June 10, 2024
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Busan mobility show to bank on hybrid, EV debuts
The 2024 Busan International Mobility Show will take place later this month amid challenges faced by traditional auto shows worldwide, with Hyundai-Kia, Renault Korea and BMW Korea expected to unveil their latest electric and hybrid models. The biannual event, hosted at the Busan Exhibition and Convention Center, will commence with a press day on June 27 and continue until July 7. This year’s show coincides with the decline of long-standing auto exhibitions like the Geneva Motor Show, whic
Mobility June 10, 2024
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[KH Explains] How Hanwha Qcells thwarts China surge in US solar market
In the wake of a generative artificial intelligence-driven energy surge and favorable regulatory shifts, Hanwha Solutions’ Qcells is poised to benefit from massive government subsidies in the US solar market. As many US solar companies have been scaling back investments due to the influx of inexpensive Chinese solar products, the Korean solar panel maker is seizing the opportunity to become the only company with a fully integrated local solar value chain that allows it to benefit from a co
Industry June 10, 2024
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Doubts persist over oil project despite expert briefing
Doubts persist over the potential of newly identified oil and gas reserves off South Korea’s southeastern coast, despite a press briefing on Friday led by the expert behind the discovery to address public concerns about the drilling project's feasibility and the credentials of the company involved. Since the announcement a week ago, the claim has triggered a wave of public attention, expressing both excitement and skepticism, with the government providing multiple clarifications for rumors
Industry June 9, 2024
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Oil, gas reserves in East Sea 'highly prospective' says Act-Geo owner
The existence of oil and gas reserve in the East Sea is "highly prospective" as seismic data show the examined wells contain all four key elements of a petroleum system, Vitor Abreu, the owner and adviser of the US geoscience research firm Act-Geo said Friday. Act-Geo is the company that suggested substantial oil and natural gas deposits may be buried in the deep sea near Pohang's Yeongil Bay. "So to summarize ... the basin is highly prospective," Abreu said during a pre
Industry June 7, 2024
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Act-Geo founder arrives in Seoul to explain oil find
Following the recent announcement that South Korea may have discovered up to 14 billion barrels of oil and gas reserves off its southeastern coast, Vitor Abreu, the owner of Act-Geo, the firm responsible for the discovery, arrived in Seoul on Wednesday to elaborate on these findings. Abreu landed at Incheon Airport earlier in the day to meet with government and industry officials. According to industry sources, he is to hold a press conference in Sejong City on Friday to address questions regard
Industry June 5, 2024
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42dot gets $185m from Hyundai-Kia to boost hiring
Hyundai Motor and Kia are investing some 253 billion won ($185 million) in 42dot, the global software center within Hyundai Motor Group, to aggressively recruit top-tier talent and accelerate the group's software-defined vehicle strategy. On Tuesday, Hyundai and Kia announced through Korea's Financial Supervisory Service that their boards had approved a capital increase, with Hyundai contributing over 152 billion won and Kia adding more than 101 billion won. This investment is based on
Mobility June 5, 2024
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LG Energy Solution, Analog Devices team up for BMS innovation
LG Energy Solution said Wednesday it has signed a memorandum of understanding with American semiconductor manufacturer Analog Devices, Inc. to enhance battery management technologies for electric vehicles. Over the next two years, ADI will supply high-performance battery management integrated circuits, or BMIC, while both companies develop algorithms to measure the internal temperatures of EV battery cells accurately. Analog Devices specializes in impedance measurement technologies. Impedance, t
Mobility June 5, 2024
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