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LG Energy Solution to invest $5.57 billion in Arizona battery plants

LG Energy Solution will invest 7.2 trillion won ($5.57 billion) in building battery plants in Arizona, the company announced Friday. The battery maker will spend...
Business

Hyundai, Kia to recall over 570,000 vehicles in U.S. due to fire risk

Hyundai Motor and its affiliate Kia said Friday they will recall over 570,000 vehicles in the United States because the vehicles could pose a...
Business

The number of South Koreans visiting LA is increasing significantly

The number of Koreans visiting Los Angeles has increased significantly as the pandemic eases. According to the latest yearly statistics released by the Los Angeles...
Business

Hyundai Motor, Advent Technologies sign advanced fuel cell deal

Hyundai Motor and Kia will jointly develop a core component for advanced fuel cells with Advent Technologies, a Boston-based fuel cell component manufacturer. Hyundai Motor...
Business

U.S. Chips Act offers some comfort to Korean chip makers

Samsung Electronics and SK hynix will be able to maintain and upgrade their manufacturing facilities in China — albeit marginally — even after the...
Business

Lotte Confectionery signs MOU with American Institute of Baking International

Lotte Confectionery signed a memorandum of understanding (MOU) with the American Institute of Baking (AIB) International to better the quality of its food products. Lotte...
Business

U.S. state attorneys general target #kiaboyz in letter to automakers

A group of 23 U.S. state attorneys general penned a letter to Hyundai Motor and Kia Monday, urging the carmakers to take swift action...
Business

Coupang hacked by Russians, report says, company denies

Coupang was the target of a significant theft of customer data, according to a local media report. The company said this is impossible and blamed...
Business

Korean start-up Innospace launches test launch vehicle Hanbit-TLV

Innospace, a Korean space start-up, said Monday its suborbital test launch vehicle, Hanbit-TLV, has been launched. The 8.4-ton thrust single-stage hybrid rocket was fired from...
Business

Hyundai Motor Group ranks third-largest automaker in world

Hyundai Motor Group is now the world's third-largest automaker, outpacing General Motors and Stellantis. It's the first time the combined sales of Hyundai Motor and...
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