BUSINESS
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Hyundai's Giant Step Towards Carbon Neutrality Hyundai Motor Group Hyundai Motor Group has signed a contract to purchase 147 MW of solar power to operate its electric vehicle (EV) factory, currently under construction in Georgia, USA, using renewable energy. The automotive giant recently announced that it has signed a long-term power purchase agreement (PPA) for 15 years (2025-2040) with a new […] -
Tesla's Accelerator Pedal Issue: Recalls Nearly 4,000 Cybertrucks Tesla has initiated a recall for its Cybertruck. On the 19th (local time), Tesla announced that it had recalled 3,878 Cybertrucks to rework and replace the accelerator pedal, which could increase the risk of unintentional acceleration if it becomes detached. According to a recall report submitted to the U.S. National Highway Traffic Safety Administration, Tesla […] -
K-Chicken: The New Food Trend Sweeping the U.S. Differentiation in sauce and seasoning attracts locals.Local brands are jumping on the trend of K-chicken menus. K-Chicken has captured the taste buds of Americans. Bonchon Chicken, BBQ, BHC, Pelicana, and Kyochon Chicken have been selected as America’s best Korean-style chicken brands. With the recent global Hallyu craze, the popularity of K-Food is on the rise, […] -
Tesla's Dominance Challenged as BYD Takes Lead in China China’s foremost electric vehicle (EV) manufacturer, BYD, has secured the leading position in the domestic auto market share for the first time. According to the China Passenger Car Association (CPCA), on the 21st, BYD sold 263,000 units last month in China. This is a 35.4% increase compared to the sales volume of 192,289 units in […] -
AI Chip Development Boosts Samsung Chairman to Top of Forbes' Rich List Lee Jae Yong, Chairman of Samsung Electronics, has topped Forbes’ list of South Korea’s 50 Richest People for the first time. Last year’s leader, Chairman Kim Byung Ju of MBK Partners, slipped to second place. Forbes reported on the 17th (local time) that Chairman Lee had taken the top spot in the 2024 Korea’s 50 […] -
Google's Layoff Spree Continues Amid Economic Uncertainty Google recently initiated additional layoffs for its cost-cutting measures and plans to transition laid-off employees to overseas hubs. According to a Google spokesperson on the 17th (local time), the layoffs are not company-wide, and affected employees can apply for internal roles. However, the spokesperson did not specify the number of affected employees or the relevant […] -
Drive Like a Pro: Kia Launches NBA-Themed Display in U.S. Kia has launched a service in the North American market that allows users to customize the design of vehicle clusters and infotainment displays to suit their preferences. Ahead of the NBA playoffs, Kia announced on Friday that it has released 30 NBA team-specific display themes in North America. These display themes are part of a […] -
Tick Tock: Swiss Watch Exports Hit Four-Year Low Amid Chinese Demand Slowdown Swiss watch exports have significantly declined since 2020 as Chinese buyers’ demand for luxury watches slows. The world’s leading luxury company, LVMH, also feels the impact of Chinese consumers tightening their spending. On the 18th (local time), Bloomberg reported that the Swiss Watch Industry Federation’s exports in March fell by 16% compared to last year, […] -
Revolutionizing EV Industry: Volvo and CATL's Battery Recycling Plan Volvo partnered with China’s CATL to replace old electric car batteries with new ones. The goal is to further reduce electric vehicles’ carbon footprint by recycling critical battery materials. Last month, Volvo discontinued the production of diesel cars to reduce their carbon footprint. As electric car sales continue to increase, many batteries will eventually be […] -
Hyundai's Latest Decision Sparks Controversy in South Korea Hyundai Plans to Import ‘Sonata Taxi’ Produced in China Recently, news broke that Hyundai could import the eighth-generation Sonata taxi produced in China. At the time, the Hyundai union claimed a collective agreement violation and opposed the move. Until now, the seventh-generation Sonata taxi has been produced in the Chungnam Asan factory, but due to […] -
Hydrogen Car Sales in the U.S. Plunge in Q1 The U.S. hydrogen car market drastically shrank last quarter. Toyota’s Mirai saw a 74% decrease compared to the previous year, and Hyundai’s Nexo also decreased by 22%. The limitations of the hydrogen car market are becoming evident due to the rising cost of hydrogen fuel and the lack of hydrogen charging infrastructure. According to data […] -
Apple's Big Move: $250 Million Investment in Singapore Tim Cook, currently touring Southeast Asia, also plans to invest in Singapore. According to an Apple statement on the 18th (local time), the company plans to invest more than $250 million to expand its local campus and operations in Ang Mo Kio, Singapore. Tim Cook, CEO of Apple, said, “Singapore is truly a unique place, […] -
Major U.S. Bank Morgan Stanley Axes Dozens of Jobs in Asia Morgan Stanley is laying off dozens of bankers in the Asia region. According to sources on the 17th (local time), Morgan Stanley is laying off at least 50 people in the Asia-Pacific region due to a slump in trading. This layoff represents about 13% of the 400 Wall Street bank employees working in the Asia […] -
Google Introduces Privacy Sandbox as Alternative to Third-Party Cookies Following the discontinuation of third-party cookie provision, Google has proposed Privacy Sandbox as an alternative. The goal is to enhance the security and accuracy of information, protect personal information, and increase the efficiency of advertisements. Starting this third quarter, Google announced that it is freely distributing the Privacy Sandbox API as a solution for Target […] -
Meta Takes on Google with the Launch of Llama 3 AI Model Meta Platforms, Inc. has unveiled a new version of its powerful Llama AI model to keep pace with similar technologies from companies like Alphabet Inc.’s Google. Meta revealed the upgraded model Llama 3 on the 18th (local time), an improvement on the AI model launched last summer. Meta operates its own in-app AI assistant, Meta […] -
Snow Leopards in 3D: LG's Bold Move to Raise Climate Change Awareness In honor of Earth Day on April 22, LG Electronics takes a stand to raise awareness about animals facing extinction due to severe climate change. On the 16th (local time), LG Electronics announced the release of The LG Endangered Species Series on the billboard in Times Square, New York. The video features a dynamic 3D […] -
Intel's Bold Claim: We Can Beat TSMC in the Foundry Game Intel CEO Pat Gelsinger has emphasized that Intel is confident in its foundry business competitiveness and is capable of surpassing Samsung Electronics to become the world’s number-one company, overtaking Taiwan’s TSMC. According to the global news platform Semafor on the 18th, Gelsinger said, “TSMC has done an extraordinary job as a foundry, but Intel also […] -
SCD Pharm's Ophthalmic Drug Approved by FDA: U.S. Market Entry Imminent Anticipated to Reach 70% of Third-Quarter Operating Profit Goal SamChunDang (SCD) Pharm announced on the 18th that it had received product import approval from the U.S. Food and Drug Administration (FDA) on the evening of the 17th from its U.S. generic ophthalmic drug partner. After signing a supply contract for ophthalmic drugs with its U.S. […] -
SK Hynix Pumps Billions into U.S. AI Semiconductor Production SK Hynix’s CEO, Kwak Noh Jung, emphasized the importance of semiconductor cooperation with the U.S. On the 17th (local time), Kwak delivered a keynote speech on the ‘Partnership for Global Success in the AI Era’ theme at the ‘Chips for America: Execution for Global Success’ event in Washington, DC. He explained that the potential of […] -
Get Your Hands on a 2024 BMW EV with Up to $7,500 in Rebates According to the American automotive portal Car Direct, BMW’s 2024 battery electric vehicles are receiving rebates from $5,000 to $7,500 in the United States until April. The 2024 BMW i7 Sedan and the iX SUV reportedly receive a purchase incentive of $7,500. The media reported that if customers finance their purchase through BMW Financial Services, […]
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