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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Hyundai Mobis ranks 6th among global auto parts makers for 4th straight year

Despite slowing electric vehicle (EV) momentum and global economic uncertainty, Hyundai Mobis has maintained its No. 6 global ranking among auto parts suppliers for the fourth consecutive year, underscoring its resilient competitiveness. The rankings were published earlier this month in the 2025 Top Suppliers list by Automotive News, a leading global automotive publication. The list ranks the world’s top 100 auto parts suppliers based on the previous year’s sales to global automakers, excluding aftermarket revenue. Widely regarded as a measure of not only sales volume, but also production reliability, order-winning capacity and trusted relationships with global clients, the ranking once again highlights the strong position of Hyundai Mobis in the global market. Last year, Hyundai Mobis, the auto parts affiliate of Hyundai Motor Group, recorded $33 billion in original equipment sales, placing sixth globally behind Bosch of Germany, Denso of Japan, Magna of Canada, ZF of Germany and CATL of China. Since entering the top 10 for the first time in 2011, Hyundai Mobis has maintained a str

Jul 11, 2025By Lee Min-hyung
Hyundai Mobis ranks 6th among global auto parts makers for 4th straight year

Eastar Jet launches temporary passenger service to Ordos

Eastar Jet said Friday it will temporarily operate passenger flights to Ordos in China's Inner Mongolia region to meet growing summer travel demand. The Korean budget carrier will offer two weekly flights from the country's largest port city of Busan to Ordos until Sept. 15. Ordos is one of the main cities located in China's Inner Mongolia, best known for its unique natural landscape that includes vast deserts, according to Eastar Jet. The airline currently operates seven international routes departing from Busan and is set to launch services to Vietnam's Phu Quoc from Busan on July 26.

Jul 11, 2025By Yonhap
Eastar Jet launches temporary passenger service to Ordos

SK On signs LFP cathode material supply deal with L&F for US ESS market

SK On, the battery arm of Korea's SK Group, said Friday it has signed a memorandum of understanding (MOU) with L&F for the supply of cathode materials for lithium iron phosphate (LFP) batteries, targeting the energy storage system (ESS) market in North America. Under the agreement, the two companies plan to discuss details, such as supply volume and period, with the goal of building a mid- to long-term partnership, according to SK On. SK On said the partnership with L&F, a major battery materials maker in Korea, aims to meet rising demand for LFP batteries in the United States and strengthen the company's push into the rapidly growing ESS sector. ESS installations in the U.S. have been accelerating in recent years, driven in part by the rise of AI-powered data centers that require reliable, scalable energy storage solutions. LFP batteries are increasingly favored for ESS applications due to their cost efficiency and strong safety characteristics. SK On has been expanding its LFP battery development as part of a broader strategy to diversify its battery chemistry portfolio. "This MOU marks

Jul 11, 2025By Yonhap
SK On signs LFP cathode material supply deal with L&F for US ESS market

PHOTO IONIQ 6 N makes global debut

Hyundai Motor’s high-performance IONIQ 6 N electric vehicle made its global debut at England’s iconic Goodwood Festival of Speed, Thursday. It can accelerate from zero to 100 kilometers per hour in just 3.2 seconds. Courtesy of Hyundai Motor

Jul 10, 2025By Lee Min-hyung
[PHOTO] IONIQ 6 N makes global debut

GKL receives award for excellence in management, success in launching mobile game

Grand Korea Leisure (GKL) received an award from the Korea Association for Public Sector Affairs Analysis & Evaluation (KAPSAAE) for demonstrating excellence in management and successfully launching a new mobile game. GKL is the public operator of the country’s largest foreigner-only casino Seven Luck under the Ministry of Culture, Sports and Tourism. The KAPSAAE is also a nonprofit organization that evaluates government agencies in six different categories as part of its annual contest for outstanding policies and management among public sector. A total of 156 government agencies participated in this year’s contest. Of them, 48 were awarded for excellence in management or policies under the KAPSAAE’s evaluation. According to GKL, it received this year’s grand award for introducing an education system based on the government-led National Competency Standards and Sectoral Qualifications Framework, launching the educational mobile game Dealing Star and starting another education program for future tourism. “GKL will continuously do its best to strengthen the education of future g

Jul 10, 2025By Jhoo Dong-chan
GKL receives award for excellence in management, success in launching mobile game

Prototype of Porsche Cayenne Electric shows powerful performance

Porsche is off to a solid start ahead of the official launch of the carmaker’s much-awaited Cayenne Electric, with its prototype proving racecar-like performance and practicality during a recent global test. The near-production prototype recently completed a record-setting run during a film shoot at Shelsley Walsh Hill Climb in England. In the latest test, the electric vehicle finished a course of some 914 meters in record time for a SUV. Tag Heuer Porsche Formula E Team simulator and development driver, Gabriela Jílková, piloted the vehicle, which tackled a steep gradient of 16.7 percent on a road width of only 3.5 meters. The Cayenne Electric prototype passed the test in 31.28 seconds. “This course is challenging and does not forgive mistakes,” Jílková said. “There are no run-off zones and little room for correction. However, the active suspension of the Cayenne Electric prototype gave enormous stability and precision. I felt completely confident at all times.” The SUV was equipped with Porsche Active Ride, a new suspension system through which the active chassis keeps the

Jul 10, 2025By Lee Min-hyung
Prototype of Porsche Cayenne Electric shows powerful performance

Uncertainty grows over Korea’s Ukraine reconstruction plans amid probe into ex-first lady

Questions are mounting over whether companies and the Lee Jae Myung administration will continue their efforts in Ukraine's postwar reconstruction. Under the leadership of Lee, who has expressed skepticism about supporting the war-torn country, an investigation is also under way into former first lady Kim Keon Hee's alleged involvement in manipulating the stock prices of companies once rumored to be joining the reconstruction project. Amid these developments, the government and companies have recently adopted a low-key approach, refraining from promoting partnerships with Ukraine. Before becoming president, Lee criticized the Yoon Suk Yeol administration for lending money to Ukraine and opposed providing weapons to the country. In 2022, Lee attributed the war to what he called Ukrainian President Volodymyr Zelenskyy's immature foreign policies, though he later apologized to the Ukrainian people. Last November, Lee alleged that the former first couple intentionally boosted Sambu Construction's stock price in 2023 by abusing their power to mislead investors about the firm's connections to

Jul 10, 2025By Park Jae-hyuk
Uncertainty grows over Korea’s Ukraine reconstruction plans amid probe into ex-first lady

LS Electric joins Elecs Vietnam 2025 for ASEAN power solution leadership

LS Electric will participate in the Elecs Vietnam 2025 exhibition next week to showcase a series of its latest power solutions in a move to capitalize on the region’s growing strategic importance amid a rapid influx of global IT giants into the Association of Southeast Asian Nations (ASEAN) region, the company said Thursday. The Korean electric equipment maker plans to promote its vision for the future of Vietnam’s energy landscape by occupying the event’s largest booth, with an area of 144 square meters. The upcoming fair will run for three days starting Wednesday in Ho Chi Minh City. LS Electric entered the Vietnamese market in the mid-1990s, becoming the first Korean electric power company to do so. Since 2013, it has maintained a leading position in the country’s low-voltage electrical equipment sector, with a market share exceeding 40 percent. The company aims to solidify its position not just in Vietnam, but across the ASEAN region, as global tech firms such as Amazon Web Services, Google and Microsoft are poised to make tremendous investments in data center projects throu

Jul 10, 2025By Lee Min-hyung
LS Electric joins Elecs Vietnam 2025 for ASEAN power solution leadership

KOMIPO pioneers direct LNG import to boost price competitiveness

SINGAPORE — KOMIPO Global, the overseas subsidiary of Korea Midland Power (KOMIPO), has become a trailblazer in Korea’s power generation sector by breaking away from the traditional Korea Gas Corp. (KOGAS) supply model and pioneering direct liquefied natural gas (LNG) procurement since 2015. Established in 2007 to oversee the company’s global business, KOMIPO Global jumped into the LNG procurement business in 2015 by leveraging its corporate base in Singapore, an LNG trading hub of the Asia-Pacific region. “KOMIPO Global’s role is to shield our headquarters from direct exposure to overseas business risks while ensuring efficient management and control of our international operations,” Cho Hang-sung, managing director of the company, told The Korea Times at its office in Singapore on July 3. “This strategic positioning (in Singapore) enables us to maximize operational efficiency and capitalize on the benefits offered by the country as a financial and energy hub.” Singapore has over 50 global LNG suppliers and trading houses operating in the city-state, offering unparallele

Jul 10, 2025By Lee Gyu-lee
KOMIPO pioneers direct LNG import to boost price competitiveness

PHOTO HiteJinro partners with CF Monterrey

Oh Se-ho, center, head of HiteJinro's American Market Sales Team, poses with a CF Monterrey jersey featuring the liquor company's brand, JINRO, alongside Carlos Calles, second from right, marketing director of the Mexican premier football league club, representatives from both sides and Jinro’s toad mascots, after signing a partnership agreement at BBVA Stadium in Guadalupe, Mexico, July 1. Through this partnership, HiteJinro aims to expand its brand presence in Mexico, where football’s widespread popularity plays a major role in shaping consumer trends. BBVA Stadium, home to CF Monterrey, draws an average crowd of over 41,000 per game. The club’s social media platforms have more than 5.5 million subscribers — a reach HiteJinro plans to leverage in promoting its soju and liqueur products. Under the agreement, the company will carry out marketing activities inside the stadium throughout the Liga MX season. Courtesy of HiteJinro

Jul 10, 2025By Ko Dong-hwanphoto
[PHOTO] HiteJinro partners with CF Monterrey
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