The Korea Times

COVER STORY Hoban's insatiable appetite: Group founder targets Korean Air

Kim Sang-yeol, founder and former chairman of Hoban Group, has built the company into one of Korea’s most aggressive investors, with his latest bet on Korean Air bringing Hoban’s Hanjin KAL stake nearly level with that of the airline’s controlling shareholder. Hoban Group has so far amassed a 20.15 percent stake in Hanjin KAL, the parent company of Korean Air, putting it just 0.42 percentage point behind Hanjin Group Chairman Cho Won-tae and his related parties, which collectively own 20.57 percent. That narrow gap puts Kim in a position to challenge the balance of power at Korea’s flagship airline — particularly if Korea Development Bank (KDB) decides to sell its 10.58 percent stake. The state-run bank has yet to decide how to sell its stake in Hanjin KAL. The decision may determine who holds the upper hand in the management rights for the integrated airline that is scheduled to launch on Dec. 17 following Korean Air's takeover of Asiana Airlines. Hoban has expanded far beyond its housing construction roots through a string of acquisitions and investments, including Taihan Cab

Sep 15, 2026By Lee Min-hyung

[COVER STORY] Hoban's insatiable appetite: Group founder targets Korean Air

Companies

Hyundai plays catch-up as Tesla strengthens grip on Korea's EV market

Hyundai Motor’s autonomous driving road map is putting its ability to keep pace with Tesla under scrutiny, as the U.S. automaker rapidly gains stronger ground in Korea’s electric vehicle (EV) market. Last week, Hyundai Motor Group’s self-driving arm — 42dot — said it will introduce cars with Level 2+ autonomous driving technology based on Nvidia’s platform in the first half of 2028, followed by Level 2++ technology later that year. Vehicles equipped with the carmaker’s proprietary Atria artificial intelligence (AI) system will also be mass-produced in the second half of 2029, according to 42dot. Under the road map, the automaker seeks to close the gap with Tesla and other overseas autonomous driving leaders. But the timeline for Hyundai Motor's self-driving commercialization still leaves much to be desired, as Tesla has already turned into a consumer-facing product. Tesla’s Full Self-Driving (FSD) Supervised system is already available in Korea in limited form, although regulatory approval for its broader domestic operation remains a key hurdle. Tesla has also been expand

Sep 15, 2026By Lee Min-hyung

Hyundai plays catch-up as Tesla strengthens grip on Korea's EV market

Companies

Kia PV7 expands all-electric PBV lineup

Kia unveiled the PV7, its second dedicated all-electric platform beyond vehicle (PBV) model, at IAA Transportation 2026 in Hannover, Germany, Monday, expanding its electric commercial vehicle lineup with more cargo capacity and flexibility. The PV7 is available in Cargo and Passenger variants and is designed for a range of uses, including logistics, fleet operations, shuttle services and small and medium-sized businesses. Kia plans to launch the model in Korea and Europe in the second half of 2027, with additional markets and derivatives to follow. The PV7 is built on Kia’s PBV-dedicated Electric-Global Modular Platform for Service architecture and features a flat-floor design to maximize interior space. It follows the PV5, which was named the 2026 International Van of the Year. “The PV7 marks the next step in our journey toward personalized mobility, building on the foundation established by the PV5,” Kia CEO Song Ho-sung said. “By bringing together hardware developed for specific applications, business-tailored software and dedicated PBV services, the PV7 goes beyond the vehicl

Sep 14, 2026By Lee Min-hyung

Companies

Hyundai Motor Group targets hands-free urban driving by 2029

Hyundai Motor Group plans to start mass-producing vehicles capable of hands-free autonomous driving in urban areas in the second half of 2029, while launching vehicles using Nvidia’s validated autonomous driving technology a year earlier. The group unveiled the road map Friday during an autonomous driving media day at the headquarters of 42dot, its autonomous driving software subsidiary in Seongnam, Gyeonggi Province. The strategy centers on a two-track approach: using Nvidia’s technology to accelerate commercialization while developing its own autonomous driving system to secure long-term technological independence. The group plans to apply Nvidia’s vehicle AI computing platform and autonomous driving software to Level 2+ vehicles in the first half of 2028 and Level 2++ vehicles in the second half. Level 2+ allows drivers to take their hands off the wheel on highways, while Level 2++ extends hands-free driving to urban roads. At the same time, the group is advancing Atria AI, its proprietary end-to-end (E2E) autonomous driving system jointly developed by its Advanced Vehicle Platf

Sep 13, 2026By Lee Min-hyung

Hyundai Motor Group targets hands-free urban driving by 2029

Companies

TEST DRIVE Lexus NX 450h+ reveals sporty side

For a brand long associated with quiet, effortless cruising, Lexus has built a surprisingly spirited side into its NX 450h+ plug-in hybrid SUV. A roughly 100-kilometer round trip from Seoul to Ganghwa Island in Incheon offered a chance to experience both personalities of the mid-size SUV — its calm, efficiency-focused character in city traffic and its sharper side once the road opened up. The NX 450h+ is Lexus’ first plug-in hybrid model based on the second-generation NX platform. It combines a 2.5-liter four-cylinder gasoline engine producing 185 horsepower with two electric motors for a combined system output of 307 horsepower. On paper, those numbers suggest a fairly aggressive SUV. Behind the wheel, however, the first impression is not speed but smoothness. Its 18.1-kilowatt-hour battery allows the NX 450h+ to travel up to 56 kilometers on electric power alone. In city traffic, switching to Eco mode made the SUV feel almost deliberately relaxed. The throttle response was gentle, while the quiet electric drivetrain took some of the strain out of frequent stop-and-go driving. The ch

Sep 11, 2026By Lee Min-hyung

[TEST DRIVE] Lexus NX 450h+ reveals sporty side

Companies

Korean Air faces probe over deleted documents in route case

Korean Air faces possible prosecution after three employees allegedly deleted files and emails during a Fair Trade Commission (FTC) investigation into the airline’s request to ease seat-supply obligations imposed as part of its merger with Asiana Airlines. The FTC said Thursday that it submitted a review report recommending that Korean Air and the three employees each be referred for prosecution over alleged obstruction of the regulator’s investigation. The recommendation is not a final decision. The case will be reviewed by the FTC’s full commission, which will make its final determination after giving Korean Air and the employees opportunities to submit their opinions and review evidence. The watchdog conducted an on-site inspection of Korean Air’s headquarters in Seoul from Feb. 2-6, as part of its review of the airline’s request to ease seat-supply requirements on the Cheongju-Jeju and Jeju-Cheongju routes. According to the FTC, three Korean Air employees deleted work-related electronic files and emails connected to the case between Feb. 2 and 4. Investigators determined th

Sep 10, 2026By Lee Min-hyung

Korean Air faces probe over deleted documents in route case

Companies

TEST DRIVE BYD Dolphin shows small EVs can offer big value

BYD Korea’s Dolphin compact electric hatchback is far more than just a low-cost electric vehicle (EV), positioning itself as a serious contender in the segment with strong practicality and solid driving performance. Dolphin’s greatest strength lies is its pricing. With government subsidies applied, the vehicle can effectively be purchased in the low-20 million won ($13,600) range, placing it in direct competition with key rivals — Hyundai Motor’s Casper Electric and Kia Ray EV. Consumer response has been swift. The company sold 1,202 vehicles in August, ranking fourth in the imported vehicle market here. The combination of affordability and practicality clearly resonates with buyers. The vehicle's popularity becomes easy to understand after spending time behind the wheel, particularly for first-time EV buyers or consumers seeking a practical commuter-focused second car. The base model produces 70 kilowatts, or roughly 95 horsepower. The figures appear modest, but the instant torque delivery characteristic of EVs provides lively acceleration in urban driving conditions. The vehicle

Sep 10, 2026By Lee Min-hyung

[TEST DRIVE] BYD Dolphin shows small EVs can offer big value

Companies

MiCo completes NEM Energy acquisition amid AI-driven gas power boom

MiCo Group has completed its acquisition of Dutch power equipment maker NEM Energy, seeking to capitalize on surging demand for gas-fired power plants as the rapid expansion of artificial intelligence (AI) and data centers strains electricity supplies in North America. MiCo said Tuesday that its subsidiary Hyundai Heavy Industries Power Systems (HPS) had completed payment for acquiring NEM Energy, formally closing the deal. The group plans to combine NEM Energy’s engineering expertise and global customer network with HPS’ large-scale manufacturing capabilities to strengthen its position in the gas-fired power market, particularly in North America. The acquisition comes as power availability has emerged as a critical constraint on the expansion of AI infrastructure. The construction of data centers for generative AI and cloud services is driving electricity demand sharply higher, while utilities and developers are turning to gas-fired generation to provide stable power alongside renewable sources. Major gas turbine manufacturers, including GE Vernova and Siemens Energy, have seen thei

Sep 10, 2026By Lee Min-hyung

MiCo completes NEM Energy acquisition amid AI-driven gas power boom

Companies

TEST DRIVE Audi A3 sets example as highly responsive compact sedan

Audi Korea’s A3 sedan sets an example as a highly responsive premium compact sedan featuring brisk acceleration and agile body movement. The Audi A3 40 TFSI Quattro Premium sedan delivers a level of refinement that comfortably lives up to the Audi badge, combining responsive performance, balanced handling and everyday practicality in a package tailored for urban driving. The test vehicle, finished in "Python Yellow," made a strong first impression. Its vibrant exterior color turned heads throughout the drive, while black side mirrors and Audi’s black emblem package added a sporty touch. The overall design strikes a balance between youthful energy and premium sophistication. The A3 feels perfectly suited for dense city environments with a length of 4,505 millimeters and width of 1,815 millimeters. The compact dimensions made navigating narrow alleyways and congested roads effortless, while parking in tight spaces posed little difficulty. Agile body movements and quick directional changes highlighted the advantages of a well-engineered compact sedan. Inside, the cabin proved roomier th

Sep 9, 2026By Lee Min-hyung

[TEST DRIVE] Audi A3 sets example as highly responsive compact sedan

Companies

Oil price hike boosts demand for mini cars, compact EVs

A prolonged surge in oil prices is driving Korean consumers toward smaller, more fuel-efficient vehicles, with sales of mini cars and compact electric vehicles (EVs) gaining momentum as drivers look to cut running costs. Sales of both gasoline-powered and electric mini cars have risen sharply this year, proving growing demand for affordable vehicles amid persistently high fuel prices. Kia’s Morning, one of Korea’s most popular mini cars, sold more than 15,000 units between January and July, more than double the figure recorded during the same period last year. Demand has also strengthened for electric mini cars. Kia’s Ray EV posted an 18 percent increase in sales during the same period, as consumers become more sensitive to fuel and ownership costs. The shift is also becoming visible in the imported car market. BYD Korea’s Dolphin, a compact electric hatchback, ranked fourth in August sales for the imported car market here behind Tesla Korea’s Model Y, Model Y L and BMW Korea’s 520. Its appearance among the market’s top-selling imported models is notable, as the market has l

Sep 8, 2026By Lee Min-hyung

Lee Min-hyung

Read more

COVER STORY Hoban's insatiable appetite: Group founder targets Korean Air

Hyundai plays catch-up as Tesla strengthens grip on Korea's EV market

Kia PV7 expands all-electric PBV lineup

Hyundai Motor Group targets hands-free urban driving by 2029

TEST DRIVE Lexus NX 450h+ reveals sporty side

Korean Air faces probe over deleted documents in route case

TEST DRIVE BYD Dolphin shows small EVs can offer big value

MiCo completes NEM Energy acquisition amid AI-driven gas power boom

TEST DRIVE Audi A3 sets example as highly responsive compact sedan

Oil price hike boosts demand for mini cars, compact EVs

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