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The Korea Herald

Companies

December 11, 2019
Hyundai to supply over 1,200 Sonata hybrid taxis to Dubai

Hyundai Motor said Dec. 11 it will supply more than 1,200 Sonata gasoline hybrid sedans as taxis to Dubai next year. The company has signed deals with the Dubai Taxi Corp. and Cars Taxi to deliver a combined 1,232 Sonata hybrid taxis to the companies by the end of 2020, the company said in a st...
December 11, 2019
Number of C-suite employees at top 30 groups falls 0.5% over 4 years

The number of executives at South Korea’s top 30 conglomerates fell 0.5 percent compared to 2015, amid a slowing economy, data showed Dec. 11. The data compiled by CEOScore, a research firm that tracks conglomerates, showed that the number of executives at 262 companies affiliated with the con...
December 11, 2019
Hankook Tire supplies tires for Audi SQ8 TDI SUV

Hankook Tire & Technology said Dec. 10 it began to supply tires for Audi’s SQ8 TDI SUV in October. The company supplies the high-performance Ventus S1 evo 3 SUV tires for the high-performance SQ8 TDI SUV in the form of original equipment tires, the company said in a statement. It didn’t g...
December 10, 2019
More than two-thirds of listed firms expect earnings improvement in Q4

Some 80 percent of firms listed on the local stock market expect their earnings to improve in the current quarter compared to a year, data showed on Dec. 10. According to the data compiled by market tracker FnGuide, combined operating profit of the 217 companies listed on the main bourse was es...
December 09, 2019
Celltrion presents Truxima’s results of phase 3 clinical trials in US forum

Celltrion announced on Dec. 9 that it has disclosed its biosimilar Truxima’s results of phase 3 clinical trial at the 2019 annual meeting of the American Society of Hematology last week. “The clinical trials were conducted among patients in European countries including Germany, Spain and Russia ...
December 09, 2019
Hanwha Systems partners with US startup

Hanwha Systems, the defense industry unit of Hanwha Group, said Monday it has partnered with a US innovation platform to explore joint business opportunities. The company has signed a “strategic partnership” with Plug and Play, the world’s leading innovation platform for startups and corpora...
December 09, 2019
EV models reach over 40% of Hyundai, Kia eco-friendly car sales

Electric vehicle models reached over 40 percent of Hyundai Motor and Kia Motors’ environmentally friendly vehicle sales in the January-October period, an automobile association said Dec. 9. In the first 10 months, Hyundai and Kia sold a combined 291,237 eco-friendly models in global markets, a...
December 08, 2019
Hanwha’s investment in Overair gets all-clear signal for takeoff

Hanwha Systems announced on Dec.8 that its $25 million investment in US-based air taxi startup Overair has got final approval from authorities. The two companies plan to jointly develop personalized aerial vehicles following the US Committee on Foreign Investment’s greenlight. Overair, previousl...
December 08, 2019
Half of Hyundai Kia cars sold in US are SUVs

More than a half of new cars manufactured by South Korean carmakers Hyundai and Kia sold in US were sport utility vehicles, reaching the highest mark since its operation in the world’s second-largest auto market, the companies said Dec. 8. Of the 1.2 million vehicles Hyundai and its sister compan...
December 07, 2019
MBX to launch new vegan skincare brand with Sephora

Korean cosmetics startup MBX, which recently switched the company’s name and branding from Memebox, announced on Dec. 6 that it would launch a new skincare brand with US-based multi-brand cosmetics store operator Sephora. “We were able to stay tight with Sephora as we understand the demands of t...
December 05, 2019
SK Innovation completes EV battery cell plant in China

SK Innovation said Dec. 5 that it has built its first electric vehicle battery cell manufacturing plant in China. The completion ceremony for BEST -- a joint venture established by SK Innovation, Beijing Automotive Group and Beijing Electronics -- in Changzhou in the eastern Chinese province of...
December 04, 2019
SK Innovation, Glencore sign 6-year cobalt supply deal

SK Innovation said Dec. 4 it has signed a six-year deal with Swiss-based Glencore PLC to secure supplies of cobalt, a key material used in EV batteries. Under the agreement, SK Innovation will receive a total of 30,000 tons of cobalt, which is enough to make batteries for 3 million EVs, from Sw...
December 04, 2019
Imported car sales rise 14% in Nov.

Imported car sales in South Korea rose 14 percent on-year last month, helped by new models, industry data showed Dec. 4. The number of newly registered foreign vehicles rose to 25,514 units in November, up from 22,387 a year earlier, the Korea Automobile Importers & Distributors Association sai...
December 04, 2019
Hyundai to invest W61tr in core, mobility biz by 2025

Hyundai Motor said Dec. 4 it will invest 61 trillion won ($51 billion) in its core automobile and future mobility businesses by 2025. The decision is designed to enhance the competitiveness of its existing car manufacturing business and generate new business opportunities by investing in future...
December 03, 2019
Doosan Bobcat to acquire Schiller Grounds Care’s zero-turn mower biz

Doosan Bobcat said Dec. 3 it will acquire the zero-turn mower business of US grounds care equipment manufacturer Schiller Grounds Care. Under the agreement, Doosan Bobcat will acquire Schiller Grounds Care’s manufacturing facility in Wisconsin and its three brands of grounds care equipment -- ...

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