Volkswagen unveils 'Mission Efficiency' electric concept car, claims world records

Built on ID.Polo platform with mass-production tech Solar panels add up to 30 km of range per day Automaker says it set world records for drag and energy efficiency Volkswagen on Thursday unveiled Mission Efficiency, a high-efficiency electric concept car developed using technology drawn from its next-generation production electric vehicles. The concept set three world records in aerodynamic drag and energy efficiency, Volkswagen said, demonstrating the capabilities of its electrification technology. A key feature of Mission Efficiency is that it was built not with a purpose-built powertrain designed solely for record attempts, but with technology destined for next-generation mass-production electric vehicles. The car is based on the front-wheel-drive MEB+ platform used in the new ID.Polo and ID.Cross, and is equipped with the same 135-horsepower electric motor and 54.9 kWh high-voltage battery as the ID.Polo. Mission Efficiency set three world records as a road-legal electric vehicle. Its drag coefficient (Cd) of 0.158 is the lowest ever recorded for a road-legal car, according to Volkswagen. In a test conducted under ideal conditions — flat road, no air conditioning or other auxiliary power draw, at a steady 68 kilometers per hour — the car achieved an energy consumption of 6.48 kWh per 100 km, equivalent to roughly 15.4 km per kWh. It also demonstrated strong efficiency on public roads. On a 1,278.36-kilometer route from Volkswagen's development center in Wolfsburg, Germany, through Poland and the Czech Republic to Vienna, Austria, the car averaged 6.89 kWh per 100 km, or about 14.5 km per kWh. The average speed on that route was 67.72 km/h, with a top speed of 138 km/h, and the car required only one charging stop along the way. Upon arriving in Vienna, 164 km of range remained. Including energy losses during charging, total consumption came to 7.51 kWh per 100 km, or about 13.3 km per kWh. Volkswagen said aerodynamic design is the key to the car's efficiency. Mission Efficiency achieves a drag coefficient of 0.158 and a frontal projected area of 2.08 square meters. The teardrop-shaped body is optimized for airflow and incorporates active air flaps, covered rear wheels and a full underfloor cover. Frameless windows and door handles integrated flush with the body surface also help reduce drag. The efficiency gains are particularly pronounced at higher speeds. Above 80 km/h, Mission Efficiency consumes more than 30 percent less energy than the ID.Polo. At 140 km/h, it uses roughly the same amount of energy as a production ID.Polo traveling at 100 km/h. Andreas Mindt, Volkswagen's head of brand design, said the front of Mission Efficiency shares the same design language as the next generation of Volkswagen electric vehicles. "The body shape was designed strictly around function, following the laws of aerodynamics," he said. The brakes, wheels and tires were also engineered with efficiency in mind. The front axle uses the same MacPherson strut suspension and hydraulic brakes as the ID.Polo, while the rear axle features electromechanical brakes to reduce friction losses and improve regenerative braking efficiency. Variable brake force distribution provides cornering stability. The system was co-developed with global automotive supplier AUMOVIO. The wheels were also designed to minimize aerodynamic drag. The front wheel arches closely follow the tire curvature to reduce turbulence inside the wheel housing, and the wheels feature a patented rim deflector technology that limits air ingress. The tires were co-developed with Continental. Based on the production EcoContact 7, the concept tires achieve a rolling resistance of 4.9 kg per ton — about 25 percent lower than the EU tire label's top efficiency rating of A, Volkswagen said. The interior balances efficiency with everyday practicality. The car measures 4,775 mm in length and 1,392 mm in height, with four seats and 481 liters of cargo space. The front seats can accommodate adults, while the rear seats are designed for passengers up to 160 cm tall. The body uses a monocoque aluminum structure reinforced with high-strength carbon fiber-reinforced plastic and aramid composite materials to reduce weight. Inside, a portable Bluetooth speaker replaces a conventional audio system, and a "bring your own device" approach — using a smartphone or tablet — substitutes for a dedicated infotainment display. The glass roof and trunk lid are fitted with a 370-watt solar panel. The electricity generated powers the car's onboard electrical systems and can add up to 30 km of driving range per day, depending on season, location and weather. Thomas Schäfer, Volkswagen's CEO, said Mission Efficiency set three world records using the same platform and drivetrain as a production car. "It demonstrates the potential of the latest generation of Volkswagen electric vehicle technology," he said.

Sept. 17, 2026

Hyundai Elevator, LG Uplus sign MOU to advance smart elevator services with AI and security tech

MOU targets smart remote-monitoring platform Deal aims to boost emergency response in elevators Hyundai Elevator signed an MOU with LG Uplus on Tuesday at the Hyundai Group Building in Jongno-gu, Seoul, to cooperate on wireless services, AI and security for a smart remote-monitoring platform, the company announced Thursday. Under the agreement, Hyundai Elevator will build a stable wireless communications environment centered on its smart remote-monitoring platform MIRI, while expanding cooperation with LG Uplus into AI-based customer service and security to strengthen elevator remote-monitoring efficiency. Hyundai Elevator will apply LG Uplus's machine-to-machine wireless service technology to the communications link between MIRI and its elevators, improving connectivity between elevators and the platform and building out a smart elevator service ecosystem. MIRI is an advanced elevator maintenance service Hyundai Elevator launched in 2023. It serves as a smart remote-monitoring platform that checks and responds to elevator operating data in real time. The company plans to integrate AI and security technology with its communications capabilities to sharpen its competitive edge. The two companies will also pilot an elevator emergency-call service model using AI voice-recognition technology. The emergency-call device is a critical piece of equipment that allows passengers trapped or in distress inside an elevator to summon outside help. Through the initiative, the companies aim to improve customer convenience and build a system capable of responding swiftly to emergencies. They will also pilot AI-based customer consultation and contact-center services, conduct proof-of-concept testing of AI solutions, and pursue technical exchanges. In addition, Hyundai Elevator will review applying LG Uplus's network and integrated security platform U+SASE and other key security solutions to MIRI. The companies will carry out proof-of-concept testing and priority reviews of SASE, security monitoring and security equipment, along with technical exchanges in the security field. The two companies previously co-developed MIRI View in 2023, a system that uses AI-enabled CCTV inside elevators to detect abnormal situations — such as screaming, a person collapsing or an unusually prolonged stay — and relay alerts to a monitoring center. The companies plan to pursue innovation projects aimed at improving customer safety, convenience and operational efficiency as they work to build a next-generation elevator service ecosystem. "The competitiveness of elevators going forward will be determined not just by mechanical performance, but by how quickly and accurately they can respond in any situation," said Choi Seok-gyu, executive vice president and head of Hyundai Elevator's service division. "Together with LG Uplus, we will add AI, communications and security capabilities to our elevator services to deliver a higher level of safety and convenience." Im Jang-hyeok, executive vice president and head of LG Uplus's enterprise customer group, said the partnership "is meaningful in that it organically combines AI and security with a stable wireless communications foundation to transform the elevator remote-monitoring system." He added that the company would "continue to work closely with Hyundai Elevator to identify a wide range of innovation projects that can enhance customer safety and convenience." Meanwhile, Hyundai Elevator has also been making its mark in design: its all-in-one smart hall button was recently selected in the product design category of the 2026 Good Design awards, earning the government-certified GD mark.

Sept. 17, 2026

SM Group Chairman Woo Oh-hyun receives Korea-US Alliance Foundation's corporate supporter award

Meeting held Wednesday with Korea-US Alliance Foundation and KDVA 'SM Group will spare no support to strengthen Korea-US friendship' SM Group announced Thursday that Chairman Woo Oh-hyun has received a corporate supporter certificate from the Korea-US Alliance Foundation in recognition of his contributions to supporting the foundation's activities and the Korea-US Alliance Forum. Woo received the certificate Wednesday from Korea-US Alliance Foundation President Lim Ho-young, a former deputy commander of the Combined Forces Command, at a corporate supporters' meeting hosted by the foundation and the Korean Defense Veterans Association at Dragon Hill Sables in Yongsan-gu, Seoul. The corporate supporter certificate is awarded to companies that have backed the foundation's work to strengthen the Korea-US alliance. The foundation has previously presented the award to major corporate supporters including Hanwha and SK Group, and used Wednesday's meeting as the occasion to present it to Woo. SM Group has actively supported the foundation's key initiatives for the development of the Korea-US alliance, including sponsoring this year's Korea-US Alliance Forum. The group also provided its Top10 Hotel properties to support a spouses' program jointly run by the Korea-US Alliance Foundation and the Korean Defense Veterans Association, contributing to exchanges between the two countries. At the meeting, Korean Defense Veterans Association President Robert Abrams showed attendees photos of his wife spending time on the East Sea coast as part of the joint spouses' program, and expressed his deep gratitude to Woo and SM Group for providing Hotel Top10 Gangneung as accommodation. "The role of the private sector and businesses is just as important as that of governments and militaries in advancing the Korea-US alliance," Woo said. "SM Group will spare no support or cooperation to contribute to the continued development of the alliance and to promote friendship between the two countries." Meanwhile, Woo recently decided to donate scholarship funds to fully cover national scholarship shortfalls for incoming students at Yeoju University in the 2027 academic year, as part of an effort to realize public value through the revitalization of regional universities. The donation amounts to about 7 billion won ($5.12 million).

Sept. 17, 2026

SK hynix eyes 'made in USA' memory era in talks with Intel

Reuters reports SK hynix-Intel cooperation discussions Intel may lease two Ohio factories to SK hynix Industry watches for first-ever US DRAM production by SK hynix Move seen as response to Washington's pressure for more memory investment Reports that SK hynix is in talks with Intel to produce memory chips on US soil have renewed speculation about additional investment by the South Korean chipmaker in the United States. The semiconductor industry is closely watching whether SK hynix will build additional memory production facilities in the country, following the groundbreaking last month on its first advanced packaging fab in the US for AI memory chips. Reuters reported Thursday, citing multiple sources, that SK hynix is in negotiations with Intel to produce memory semiconductors in the United States, and that SK hynix may lease part of Intel's Ohio production facilities. The report added that SK hynix is also discussing a plan to establish a joint venture with Intel and cloud companies through shared investment. SK hynix said it is "reviewing various options to strengthen global competitiveness, but nothing has been finalized at this time," signaling that no decisions have been made regarding cooperation with Intel or memory production in the United States. Nevertheless, as a prolonged memory supply shortage persists and the US administration continues to press for additional investment in memory production facilities, the prospect of a US factory is consistently raised. Should a deal with Intel materialize, SK hynix would produce DRAM in the United States for the first time in its history. The Intel facilities cited as a potential production base are two foundry factories currently under construction in New Albany, Ohio. Originally targeted for operation in 2025, Intel slowed the project amid foundry losses and has pushed back the completion date to after 2030. For Intel, completing the foundry factories without securing enough customers would mean massive losses. Leasing the facilities to SK hynix would ease the enormous upfront cost burden and give the company room to breathe. For SK hynix, the arrangement is seen as one option for deflecting US administration pressure to invest further in memory production facilities on American soil. US Commerce Secretary Howard Lutnick has repeatedly pressed SK hynix and Samsung Electronics to build memory semiconductor factories in the United States. Because the fab SK hynix is currently building in West Lafayette, Indiana, is a back-end packaging facility, the push is for SK hynix to also establish front-end memory production facilities in the US — operations that would generate comparatively greater benefits for local economies and job creation. SK Group Chairman Chey Tae-won earlier fueled speculation about additional memory investment when he said in a CNBC interview in July, held to mark SK hynix's American depositary receipt listing, that the company is "reviewing additional investment beyond the advanced packaging facility in Indiana" and that "building a memory production factory is possible if conditions such as power, water, workforce and supply chain are in place." The possibility of further US investment also came up at the groundbreaking ceremony for SK hynix's advanced packaging fab in Indiana on Aug. 27. SK hynix President Kwak Noh-jung said on the occasion that "SK hynix will continue to expand investment and cooperation in the United States," adding that "our journey beginning today in Indiana will lead to a greater future for the US AI industry and for SK hynix."

Sept. 17, 2026

LG Electronics to supply large-scale LED displays to Capital One Arena in Washington

Washington D.C.'s premier sports and entertainment venue Renovation of Capitals' home arena Direct View LED display supply Part of 152-meter 'Visibowl' immersive corridor project Premium viewing space 'LG Collective' also planned LG Electronics will supply a large array of LED displays to Capital One Arena, Washington D.C.'s premier sports and entertainment venue, as the company accelerates its push into the North American business-to-business market by building a commercial display presence at major sports stadiums. LG Electronics announced Thursday that it signed a partnership with global sports and entertainment company Monumental Sports & Entertainment (MSE) in Washington D.C. on Wednesday (local time) to participate in the arena's renovation. Washington D.C. and MSE are investing more than $800 million to transform the venue into a next-generation sports and entertainment destination. Under the partnership, LG Electronics will supply a range of display solutions throughout Capital One Arena, including Direct View LED displays, LED signage and commercial TVs. The company will oversee the arena's key display infrastructure both inside and outside the venue, with the aim of enhancing the viewing experience for fans. Capital One Arena is the home of the NBA's Washington Wizards and the NHL's Washington Capitals. It is widely regarded as one of the leading multipurpose entertainment venues on the US East Coast, hosting not only sporting events but also major concerts and a variety of other events. LG Electronics will also take part in building the Visibowl, a new digital space being created at the arena. The Visibowl replaces existing corridor walls with an immersive digital display stretching more than 152 meters, allowing fans to watch live highlights from games and performances as they move through the arena. Capital One Arena will also feature a premium viewing space called the LG Collective — a lounge for fans and season-ticket holders to use before, during and after games, equipped with a range of LG Electronics display technologies. Jim Van Stone, MSE's president of business operations and chief commercial officer, said technology is a key driver of innovation in the fan experience. "LG Electronics is the ideal partner to deliver industry-leading display technology and a differentiated visual experience," he said. LG Electronics has been expanding its commercial display supply to major US sports venues. Most recently, the company supplied Direct View LED displays and an approximately 235-meter LED ribbon board to Dodger Stadium, home of the MLB's Los Angeles Dodgers. Last year, it supplied a signage solution covering about 842 square meters to Fenway Park, home of the Boston Red Sox. The installation included 11 signage units in total — among them a main LED scoreboard measuring 30.5 meters wide by 11.5 meters tall and a large ribbon board measuring 21.6 meters wide by 7.9 meters tall. LG Electronics also supplies and operates commercial displays at M&T Bank Stadium, home of the NFL's Baltimore Ravens; AT&T Stadium, home of the Dallas Cowboys; and Mercedes-Benz Stadium, home of the Atlanta Falcons. The company plans to expand its venue-tailored display business, focusing on the sports and entertainment market where demand for large-scale LED displays is growing, and to use that foothold to pursue additional business opportunities in the North American B2B market. Kwak Do-young, LG Electronics' executive vice president and head of North America, said the company will "continue to innovate the customer experience and expand diverse B2B business opportunities through LG Electronics' differentiated display solutions."

Sept. 17, 2026

Continental Tire develops concept tire with 43% recycled materials, eyes broader green push

Tire earns top EU label rating for rolling resistance Waste tires, PET bottles and industrial byproducts used as raw materials Continental Tire has developed a concept tire in which recycled materials account for about 43% of the total composition, while still achieving the top rating in the rolling resistance category of the EU tire label. The concept tire was developed as part of ZEvRA (Zero Emission Electric Vehicles Enabled by Harmonized Circularity), an EU-supported project aimed at improving resource circularity across the entire electric vehicle production cycle. A total of 28 organizations are participating in ZEvRA, which is set to conclude in 2026, with Continental as the only tire manufacturer involved. Through the project, the company researched material technologies that expand the use of recycled raw materials while maintaining the performance standards tires require — including safety, efficiency and durability. The concept tire incorporates recycled tall oil, steel, rubber and carbon black recovered from waste tires, polyester fiber made from discarded PET bottles, and a silica substitute derived from casting process byproducts. Beyond waste tires, the project drew on discarded PET bottles and byproducts from other industries as tire raw materials. Building on this research, Continental Tire plans to continue advancing recycled materials and related technologies with the goal of applying them to actual tire production. The company also aims to secure the technology needed for stable sourcing, processing and mass production of recycled raw materials, with a view to increasing the share of recycled content in future tire generations. Continental Tire has been steadily expanding its use of recycled and renewable materials since 2022, when it began applying polyester carcasses made from recycled PET bottles to some passenger car tires. "Using more recycled materials is important, but what matters most is maintaining the fundamental performance of a tire — safety and efficiency," said Niko Kyriazopoulos, head of the replacement tire division at Continental Tire Korea. "This concept tire has shown that it is possible to significantly raise the share of recycled materials without sacrificing performance. We will continue developing the relevant materials and technologies to broaden the range of what can be applied to actual products." Meanwhile, Continental Tire is strengthening its partnerships with global automakers, including supplying its EcoContact 7 as original equipment tires for Volkswagen's new compact electric vehicle, the ID. Polo.

Sept. 17, 2026

LG Electronics volunteers make songpyeon with people with disabilities ahead of chuseok

Life's Good volunteer corps visits Yeomni disability center on Tuesday Employees make traditional holiday food alongside center users Donations from 'giving menu' program at company cafeterias fund the activity LG Electronics employees visited a welfare facility for people with disabilities ahead of chuseok, making songpyeon rice cakes and joining in other holiday preparations. The company announced Thursday that its Life's Good volunteer corps — formed through voluntary employee participation — visited the Yeomni Disability Day Care Center in Mapo-gu, Seoul, on Tuesday to carry out chuseok-themed volunteer activities. Volunteers joined center users in making songpyeon and frying jeon pancakes to prepare traditional holiday food. They also presented pre-made rice cakes as gifts and played traditional games including yutnori. The Yeomni Disability Day Care Center is a welfare facility for people with severe brain lesion disabilities, operated under the Korean Social Welfare Society. The Life's Good volunteer corps has partnered with the society since 2014 to carry out volunteer work for vulnerable groups. Funding for this round of activities came from donations accumulated through a "giving menu" program at LG Electronics employee cafeterias. Under the program, employees can choose a meal with fewer banchan, "side dishes," than the standard option, with the cost savings set aside as donations. Since its introduction in 2011, the program has accumulated about 300 million won ($222,000) in total donations. LG Electronics also operates a volunteer leave policy that allows employees up to eight hours of paid weekday leave per year for volunteer activities. Since the policy took effect in 2013, employees have logged more than 40,000 cumulative hours of volunteer leave. The Life's Good volunteer corps conducted volunteer activities for children and teenagers with severe disabilities at the Seoul Amsa Rehabilitation Center in April, and this month visited an education center in Yangon, Myanmar, to support improvements to the learning environment for local youth.

Sept. 17, 2026

Koo Kwang-mo tells LG presidents: 'Move fast, execute relentlessly to win AI race'

LG Group chair presides over third-quarter presidents' meeting Meeting held Wednesday at Icheon's LG Inhwawon Group discusses sharpening investment strategy amid rapid AI paradigm shift AI described as 'core axis of future competitiveness, not an option' Leaders review progress on AI factory, physical AI, semiconductors and AX LG Group Chairman Koo Kwang-mo has called on the conglomerate's top executives to move with speed and relentless execution to win what he described as the defining battleground of AI. LG said Thursday that Koo chaired a presidents' meeting Wednesday at LG Inhwawon in Icheon, Gyeonggi Province, bringing together about 40 senior executives from key affiliates including LG Electronics, LG Display, LG Innotek, LG Chem, LG Energy Solution and LG Uplus. The gathering, focused on refining the group's investment strategy, was the third such meeting this year, following sessions in March and June. "AI is no longer an area where we can respond selectively — it is the core axis that will determine our future competitiveness," Koo told the assembled presidents. "I ask that our presidents equip themselves with speed and relentless execution so we can win on the AI battleground of the future." With AI driving rapid shifts across industrial and technology paradigms, Koo and the presidents spent about eight hours discussing investment strategies and action plans to secure the group's long-term competitiveness. The session focused particularly on reviewing existing investment outcomes and strategies across key AI priorities — AI factories, physical AI, semiconductors (materials and substrates) and AX (AI transformation). The presidents agreed that investment direction should be set on the basis of clear goals and portfolio strategy, and that decision-making quality should be raised by refining scenario planning and validation processes in response to shifts in markets, competition and technology. They also agreed to sharpen execution by seizing investment opportunities at the right moment amid rapid industry change and high uncertainty, and by boldly concentrating resources and capabilities where they are most needed. The meeting came after global AI leaders including Microsoft, OpenAI and Anthropic triggered an industry debate by warning of AI risks and calling for a slower pace of investment and development. The presidents nonetheless aligned on the view that LG's approach to AI must keep people — not the technology itself — at the center, and that it should be pursued in ways that deliver genuine improvements to people's lives. Koo chairs a presidents' meeting every quarter to refine the group's business portfolio. At the March session, where AX was the central agenda, he said the initiative "is not a task for any one organization — it is something that CEOs and business leaders must personally set the direction for and drive," calling for clear choices and strong execution from the presidents. "The most important thing is speed," Koo said at that meeting. "Fast execution matters more than a perfect plan, so we must quickly act on even small things where the business impact is real, accumulate results and spread them." In April, Koo traveled to Silicon Valley, where he met with executives from AI software firm Palantir and physical AI company Skilled AI to discuss strategies for accelerating AX. Skilled AI is among the portfolio companies of LG Technology Ventures, LG Group's corporate venture capital arm. During the same trip, Koo visited the LG Technology Ventures office and asked the team to serve as "a forward base that can build one pillar of the group's future portfolio through proactive investment amid the AI paradigm shift." At the June presidents' meeting, Koo emphasized "winning R&D," urging the group to build technological differentiation wide enough that competitors cannot easily close the gap.

Sept. 17, 2026

Genesis brings Le Mans-raced GMR-001 to Korea for Magma Racing Live Festival

Korea's first large-scale fan festival for the brand Magma GT3 Concept to make domestic debut WEC Fuji 6 Hours to be broadcast live Genesis will hold the "Genesis Magma Racing Live Festival" at Starfield Hanam from Sept. 24 to 27, the automaker announced Thursday. The event marks the brand's first large-scale domestic fan festival and will feature a live broadcast of the FIA World Endurance Championship (WEC) Round 6 Fuji 6 Hours race alongside a range of interactive programs. The South Atrium at Starfield Hanam will display the actual GMR-001 hypercar No. 19 — the car that completed the 24 Hours of Le Mans this past June — making its first public showing in Korea. The vehicle covered 372 laps (approximately 5,069 kilometers) over 24 hours to finish 13th overall. Genesis Studio Hanam will also showcase the Magma GT3 Concept, reflecting the brand's ambition to compete in GT3 endurance racing. GT3 is the premier class of Grand Touring (GT) racing, in which cars built on high-performance production vehicles compete. The Magma GT3 Concept made its world debut at the 24 Hours of Le Mans in June and signals Genesis's potential to expand further into motorsport and high-performance segments. On the festival's final day, Sunday, Genesis will broadcast the WEC Fuji 6 Hours race live. The GMR-001 hypercar No. 17 earlier crossed the finish line in seventh place at Round 5, the Lone Star Le Mans, earning championship points and setting the best result in Genesis Magma Racing's WEC campaign to date. Megabox Hanam Starfield will run a special program allowing visitors to watch the Fuji 6 Hours on a large screen with full cinema sound. Genesis will hold a lottery for members of its online brand channel "Genesis Boutique" who own a Genesis vehicle, with winners receiving race-viewing tickets at Megabox. General visitors will also be able to purchase tickets through the Megabox app and website starting Sunday. Large screens will also be installed at the South Atrium and Genesis Studio Hanam so that anyone can watch the race free of charge. Throughout the festival, Genesis will offer programs that let visitors experience Genesis Magma Racing and the world of motorsport. At the South Atrium, guests can view exhibitions and video content covering the WEC and the 24 Hours of Le Mans, the story of Genesis Magma Racing's journey, and messages from team members to fans in Korea. Visitors can also try racing simulators and reaction-speed games designed to sharpen agility and focus, giving them a taste of driver training and motorsport culture. Family-friendly activities such as postcard making and temporary tattoo sticker experiences will also be available. A merchandise area will sell Genesis Magma Racing and brand-related goods, including a miniature model of the GMR-001 hypercar. Visitors who complete a stamp-rally mission set up around the venue will be entered into a prize draw at Genesis Studio Hanam. Meanwhile, Genesis Studio Hanam will extend the run of the "Genesis Magma X GMR" special exhibition, which had been scheduled to close Aug. 17, in response to strong fan interest in Genesis Magma Racing. "The Genesis Magma Racing Live Festival is a place where Genesis can share, up close with fans in Korea, the experience and passion we have built on the global motorsport stage," said Lee Si-hyeok, executive vice president and head of the Genesis business division. "We will offer a special experience where domestic customers who support Genesis can share the tension and excitement of the race in real time and explore the brand's vision for the future."

Sept. 17, 2026

Hyosung Heavy Industries unveils key HVDC equipment at Korea Energy Show

Valves, controllers on display Next-generation energy solutions also showcased Hyosung Heavy Industries announced Thursday that it is participating in the 2026 Korea Energy Show, held Wednesday through Friday at BEXCO in Busan. At the event, the company unveiled a range of key high-voltage direct current (HVDC) equipment it has domestically developed using its own technology, including valves and controllers. Valves and controllers are critical components that determine the performance and stable operation of voltage-source HVDC systems. The converter valve, developed independently by Hyosung Heavy Industries, uses power semiconductors to convert power between alternating current (AC) and direct current (DC). The controller regulates the magnitude and direction of power flow and protects the grid when system anomalies occur. Alongside this, the company introduced next-generation solutions designed to meet evolving power demand and energy conditions: a low-power instrument transformer (LPIT) for building digital substations, a static synchronous compensator (STATCOM) for voltage stabilization and power quality improvement in the power grid, and a solid-state transformer (SST), a next-generation power solution based on power semiconductors. "We will strengthen the competitiveness of our core power technologies to support the construction of large-capacity power networks in Korea, including the West Coast energy highway, and expand our presence in the global HVDC market beyond technological self-reliance to build a stronger export base," a company official said. Meanwhile, Hyosung Heavy Industries was selected Wednesday as a participating company in the valve and controller segment of Korea Electric Power Corporation's large-capacity voltage-source HVDC localization and demonstration project. Korea Electric Power Corporation plans to apply products developed by Hyosung Heavy Industries and other domestic firms to its West Coast HVDC project for demonstration purposes.

Sept. 17, 2026

S. Koreans rank 13th in GDP per capita but feel economy like a 27th-place country, report finds

Survey of 1,000 adults finds economic sentiment near the bottom among developed nations despite semiconductor-driven growth; personal happiness, social trust also lag South Korea's economic indicators — exports, investment and the like — have broadly improved on the back of a semiconductor boom, but the public's sense of economic well-being, as well as broader social measures such as happiness and trust, remain near the bottom among advanced economies, a new report shows. The Center for Social Value Enhancement (CSES), a nonprofit research foundation established by SK Group, released the findings Thursday in its "2026 Social Issues as Seen by Koreans" report, co-published with impact-measurement firm Triplelight. The survey, conducted among 1,000 adults nationwide at a 95 percent confidence level with a margin of error of plus or minus 2.03 percentage points, marks the seventh consecutive year of the study. According to the report, South Korea ranked 13th out of 29 countries in GDP per capita this year but placed 27th — near the very bottom — in "economic sentiment." Japan showed a similar gap: 15th in GDP per capita but last among the 29 countries in economic sentiment. By contrast, Singapore, the Netherlands and Australia posted strong results on both measures. Singapore topped the rankings in both GDP per capita and economic sentiment, while the Netherlands placed third in GDP per capita and fourth in economic sentiment. Australia ranked fourth in GDP per capita and sixth in economic sentiment, reflecting a relatively small gap between the two measures. South Korea and Japan also scored poorly on social sentiment. South Korea ranked 21st out of 29 countries in personal happiness, 25th in social support and 21st out of 22 countries in social trust. Japan ranked 19th in personal happiness, 17th in social support and 22nd in social trust. Looking at the seven-year trend, assessments of the national and household economies have turned more positive, while evaluations of social conditions — including trust and quality of life — have actually declined. The public's rating of the national economy rose from 5.43 out of 10 in 2020 to 5.68 in 2026, the highest score recorded over the seven-year period. Household economic assessments similarly climbed from 5.43 in 2020 to 5.66 in 2026, also a seven-year high. Social trust, however, moved in the opposite direction. Ratings for a "trustworthy society" peaked at 5.48 out of 10 in 2020 and slipped to 5.43 in 2026, while assessments of South Korea as a "good place to live" fell from 6.11 in 2020 to 5.96 in 2026. Public willingness to act on social issues also weakened over the same period. The share of respondents willing to volunteer or donate their skills dropped from 80.4 percent in 2020 to 72.3 percent in 2026. Consumer activism declined sharply as well: the proportion who said they had boycotted products linked to social problems fell from 63.6 percent in 2020 to 31.7 percent in 2026. The survey found that the public expects companies to address social problems, not just drive economic growth. When asked about corporate priorities, 55.7 percent of respondents said companies should prioritize ESG management, compared with 44.3 percent who said growth should come first. Acknowledging that companies cannot solve every social problem, the report recommended that businesses focus on issues where both social impact and commercial benefit are high. "Examples include rising greenhouse gas emissions, a shortage of technology for developing alternative energy, and a lack of jobs for young people," the report said. "Companies need to strategically concentrate on these areas, where they can grow while earning public empathy and support."

Sept. 17, 2026

CJ Logistics launches second-half recruitment drive for logistics technology talent

Roles subdivided to cover backend development, AI model development Company holds game-themed recruitment event featuring 'Tales Runner' CJ Logistics announced Thursday it is launching its second-half new employee recruitment drive for 2026, with plans to further subdivide technical roles to attract specialists capable of advancing the company's logistics technology development. Applications are open across two tracks: a general track covering supply chain management, backend development, AI model development, optimization and packaging research and development, and a global track covering global supply chain management. The defining feature of this recruitment cycle is the finer breakdown of technical roles. CJ Logistics has steadily expanded its hiring of IT development and AI and big data talent, and this second half of the year it has gone further by aligning job categories more precisely with actual technology development areas. The aim is to deepen expertise within each technical field and build a more systematic pipeline of talent capable of tackling the varied challenges that arise on the logistics floor. The newly added backend development role focuses on building the server and data processing systems that keep logistics services — including order management, inventory and delivery — running reliably. The optimization role involves analyzing logistics conditions and data to design the most efficient configuration of logistics hubs and networks. The company is also recruiting specialists in AI model development, which uses logistics data to drive forecasting and decision-making, and in packaging research and development, which focuses on packaging technologies suited to the characteristics of individual products. By subdividing its technical roles in this way, CJ Logistics said it intends to build a denser layer of expertise spanning software system development, AI and logistics operations optimization. With AI and software increasingly central to the efficiency of warehouse operations and delivery networks, the company said its strategy is to deepen specialization across each technical domain and accelerate its evolution into an advanced logistics company. Ahead of the recruitment drive, CJ Logistics held an interactive recruitment information session Aug. 28 at the Culture Tank in Mapo-gu, incorporating elements from the popular game Tales Runner. Participants took part in team missions inspired by the game's running-action format, including a relay race carrying CJ Logistics' O-NE boxes. Yoon Cheol-ju, head of CJ Logistics' FT division, also held an "SCM Career Talk" session at the event, introducing the future of the supply chain management industry and career paths in logistics. Applications are being accepted through the end of this month via the CJ Group recruitment website, with the window having opened Wednesday. The selection process proceeds through document screening, aptitude and personality testing, practical interviews and executive interviews, in that order. Successful candidates will join the company in January and undergo new employee orientation training. "Advanced technologies including AI and software are becoming the core drivers of competitiveness in the logistics industry, and we are building an environment where talented specialists in each field can fully apply their capabilities," said Kim Jeong-tae, head of human resources at CJ Logistics. "We hope that talented individuals will grow alongside CJ Logistics and lead the changes shaping the future of the logistics industry." Meanwhile, CJ Logistics recently passed the second follow-up audit for ISO 37301, the international standard for compliance management systems, conducted by the Korea Compliance Institute. It is the sixth consecutive year the company has maintained the certification since becoming the first in the domestic logistics industry to receive it in 2021.

Sept. 17, 2026

Hankook Tire named exclusive tire supplier for Belgian Rally Championship

Named BRC's official tire supplier for 2027–2029 seasons Move reinforces competitiveness in global motorsports Hankook Tire & Technology announced Thursday that it has been named the official tire supplier for the Belgian Rally Championship. Under the partnership, Hankook Tire will exclusively supply its racing tire brands Ventus Z215 and Ventus Z210 to all vehicles competing in the BRC's main classes — Rally2, Rally3 and Rally4 — for three seasons from 2027 to 2029. Cronos Tyre will continue to handle tire distribution, maintaining a stable supply system as before. The BRC is one of Europe's most prestigious national rally championships. Its predominantly asphalt courses demand precise cornering and consistent grip. Through this first supply deal, Hankook Tire has secured a platform to validate the performance and durability of its tarmac rally tires, the Ventus Z215 and Ventus Z210. Hankook Tire has been the exclusive racing tire supplier for all classes of the FIA World Rally Championship and the Junior European Rally Championship since 2025. The BRC supply deal will also give WRC drivers a real-world testing ground from the 2027 season, allowing them to check tire performance and vehicle settings across a variety of surfaces and driving conditions in preparation for the WRC. Hankook Tire has consistently demonstrated its technological capabilities by supplying racing tires to more than 70 motorsports events worldwide, including the WRC and the Lamborghini Super Trofeo. Meanwhile, Hankook Tire is expanding its global customer reach through a range of marketing activities, including the unveiling Tuesday of a new brand film titled "Rough Terrain" for its SUV-dedicated tire brand Dynapro at a local event in the United States.

Sept. 17, 2026

Chey's side calls W100b spending claim 'fake news,' files appeal

T&C Foundation spent 88% of donations on public-interest projects Actual living expenses shared with Kim put at about 2 billion won Kim Hee-young confirmed to work without pay Chey's side appeals prosecutor's decision to drop defamation case The camp of SK Group Chairman Chey Tae-won filed an appeal Tuesday against a claim by attorney Lee, a legal representative for Art Center Nabi Director Noh So-young, that Chey spent more than 100 billion won ($73.9 million) on T&C Foundation trustee Kim Hee-young, drawing attention to the actual spending details. Attorney Lee made the claim to reporters in November 2023, after a pretrial hearing in a damages lawsuit Noh had filed against Kim, saying Chey had spent more than 100 billion won on Kim since 2015. Chey's side says the 100 billion won figure Lee cited was a simple sum of all outflows from accounts held in Chey's name — including expenses unrelated to Kim, such as a home and artworks registered solely in his name, as well as foundation contributions, emergency relief funds, scholarships and other donations, among them a 13.3 billion won transfer to the T&C Foundation. "It is a distortion of the facts to claim that contributions and donations made for public-interest purposes were gifts to a specific individual," Chey's side said. According to disclosures made to the court handling the asset-division case, the amount Chey and Kim actually spent together on living expenses was about 2 billion won. Chey's side said both Noh and attorney Lee were aware of those disclosures. A review of the T&C Foundation's published financial statements Thursday showed that since its establishment in 2018 through 2025, the foundation used about 16.1 billion won — roughly 88 percent — of its approximately 18.3 billion won in donations for public-interest projects, excluding about 1 billion won placed in fixed deposits as endowment assets. Including operating expenses, total expenditures reached approximately 18.8 billion won, meaning the foundation spent more than it received in donations. Kim was confirmed to be working without pay. Chey's side argues that under Article 48 of the Civil Act and other statutes, foundation contributions cannot legally be converted into or misappropriated as personal assets, and that the ultimate recipients of the funds were not any individual but numerous scholarship recipients and public-interest beneficiaries — making the 100 billion won claim untenable. "Attorney Lee, as a legal representative in the asset-division lawsuit, was in a position to verify these facts," Chey's side said. "He inflated the figure by more than 50 times the actual amount to influence an ongoing trial and repeatedly appeared on broadcasts to spread false information." Some legal experts say it would be premature to characterize the spending as a private gift to a specific individual, given that the final destination and beneficiaries of the funds are clearly identifiable. A lawyer specializing in public-interest foundations said that once a contribution or donation is transferred to a foundation, it becomes property that no individual can dispose of at will under the Act on the Establishment and Operation of Public Interest Corporations. Meanwhile, the Seoul Central District Prosecutors' Office dropped the defamation case against attorney Lee on Friday, citing insufficient evidence. The charges had been filed on allegations that he spread false information. Chey's side filed an appeal, saying the decision not to prosecute was being misrepresented as a validation of Lee's claims and perpetuating further distortion.

Sept. 17, 2026

Taekwang Group's Cinecube marks 26th anniversary with full theater renovation

Screen replacement and 4K laser projectors installed Special screenings of Wim Wenders, Denis Villeneuve films planned to mark reopening Cinecube, an art-house theater operated by T-cast, the media arm of Taekwang Group, announced Thursday that it has completed a full overhaul of its projection and sound systems to mark its 26th anniversary. The renovation included a new screen and 4K laser projectors, along with upgraded and additional speakers to improve mid- and low-frequency reproduction, enhancing both picture and audio quality. To mark the renovation, Cinecube will screen Wim Wenders' "Perfect Days" through Sept. 30, while Denis Villeneuve's "Incendies" will receive a special one-day screening on Oct. 5. "Incendies" will be shown on film rather than digital, allowing audiences to experience the format's distinctive texture and color palette. "Through this renovation, we expect to convey the intentions of directors and creators to audiences more vividly and with greater depth," a Cinecube official said. "We will continue to improve the screening environment so that audiences can experience great films in an even better setting."

Sept. 17, 2026

Samsung Electronics holds 'The Brief' home appliance tech seminar in India

Tailored features reflect local lifestyles AI as everyday companion highlighted Similar events held in Brazil and Mexico Samsung Electronics hosted a global home appliance tech seminar in India, showcasing AI-powered appliances tailored to the country's climate and lifestyle. The company expanded AI features suited to local living conditions — from cooling functions designed for hot and humid weather to family care and remote diagnostics — as part of its strategy to position AI as an everyday companion. Samsung held the home appliance tech seminar "The Brief" in Gurugram, India, on Wednesday, the company announced Thursday. The event centered on SmartThings, its AI-based integrated connectivity platform, and highlighted how AI appliances can reduce household burdens, cut energy use and manage family routines. The venue featured dedicated experience zones for air conditioners, kitchen appliances, and home care and reliability, where Samsung demonstrated features reflecting India's hot and humid climate and family-centered lifestyle. The air conditioner zone introduced the company's WindFree technology, which regulates indoor temperature without direct airflow, along with five airflow control modes using the motion blade of the Bespoke AI WindFree Pro. Samsung also showcased its Wearable Good Sleep feature, which links Galaxy Watch and Galaxy Ring data on sleep stages and body temperature changes to automatically adjust cooling conditions. The kitchen appliance zone featured the Bespoke AI Family Hub refrigerator, demonstrating the Now Brief function — which delivers personalized information to users — and Family Care, which checks on elderly parents by monitoring their device usage patterns. Samsung also emphasized its post-purchase service offerings. Through SmartThings Home Care, the company monitors appliance conditions and alerts users when filters need replacing or devices require cleaning. Its Home Remote Management service allows consultants to remotely analyze appliance status and guide users through any necessary steps. Marking its 30th year in India this year, Samsung said it plans to strengthen its quality and service capabilities beyond the point of purchase, offering local consumers a more reliable AI appliance experience. Samsung currently operates two production facilities in India — in Noida and Chennai — along with three research and development centers in Delhi, Noida and Bengaluru, and a design center in the Delhi NCR area, providing a foundation for developing locally tailored products. Earlier, Samsung held Latin America tech seminars in São Paulo, Brazil, in August, and in Mexico City, Mexico, on Sept. 9, targeting about 80 local media representatives and influencers. Those events highlighted AI-based energy-saving features and functions designed to ease household chores. "The true value of AI home appliances lies in improving consumers' daily lives and quality of life," said Lee Sang-jik, executive vice president of Samsung Electronics' DA Business Division. "We will continue to innovate so that AI technology reflecting each region's environment and culture becomes a companion that delivers real value in everyday life."

Sept. 17, 2026

Hyundai Wia holds chuseok farmers market with local agricultural producers

Event held at Hyundai Wia's Factory No. 3 in Changwon, South Gyeongsang Province 18 local farms take part Company to purchase and donate produce to local welfare facilities Hyundai Wia held a farmers market called "Eum Market" — a community agricultural fair — at its Factory No. 3 in Changwon, South Gyeongsang Province, on Wednesday, the company announced Thursday. The market is Hyundai Wia's flagship community partnership program, designed to connect local farms with consumers. The company has run the event since 2024 using its rural-urban cooperation fund to promote quality local produce and expand sales channels for farmers. Eighteen farms from the Changwon area took part in Wednesday's market. With chuseok approaching, Hyundai Wia centered the market on seasonal produce and processed foods in high demand for the holiday. Offerings included rice, mixed grains, sweet potatoes, persimmons, Shine Muscat grapes, melons and kiwifruit, as well as processed goods such as sesame oil, dried seaweed chips, Changwon mangae rice cakes and mountain ginseng makgeolli. Participating farms were recruited and selected by the Changwon Agricultural Technology Center based on regional representation and food safety standards. Hyundai Wia also organized experiential programs for employees and their families. These included a perfume-making class using locally grown Changwon herbs and a flea market selling handcrafted goods made by children at the Hyundai Wia daycare center. In addition, visitors who purchased produce were entered into a prize draw to encourage sales at the market. To extend the event to employees at worksites outside Changwon, Hyundai Wia is also running a mobile version of the market, in which a vehicle loaded with produce travels to each worksite and opens a one-day market. On Thursday, the mobile market visited the company's factories in Seosan and Pyeongtaek, and on Friday it will head to the Uiwang research center. Visitors can browse each farm's products on-site and place orders by mobile phone for fresh delivery. Hyundai Wia will also purchase produce from participating farms and donate it to local social welfare facilities, including free meal centers, as part of its efforts to support vulnerable communities. Participating farms have also chosen to donate a portion of their sales proceeds, adding to the spirit of mutual benefit. "We hope the market will serve as a reliable sales channel for local farms and a place where our employees can share fresh, seasonal food they can trust," a Hyundai Wia official said. "We will continue to develop a range of community partnership programs that grow alongside local society." Meanwhile, Hyundai Wia has been actively expanding its business portfolio for sustainable growth. The company recently held a parking solution customer showcase at the Hyundai Motor Group's Uiwang research center in Uiwang, Gyeonggi Province, where it demonstrated how its parking robots operate and outlined plans for deploying them in residential complexes.

Sept. 17, 2026

Hanwha TotalEnergies holds 'Seosan Table Day' to support local farmers and customers

Company buys local agricultural and marine products to deliver to client firms Hanwha TotalEnergies said Wednesday it visited Daejin Co., a client company in Paju, Gyeonggi Province, to hold its "Seosan Table Day" event, delivering packages of locally sourced agricultural and marine products. The Seosan Table Day program began in 2021, when the COVID-19 pandemic was straining the local economy. The initiative involves bulk purchases of agricultural and marine products from the Seosan region, which are then delivered to client companies in a show of mutual support with the local community. For this year's event, Hanwha TotalEnergies spent about 70 million won ($51,700) to procure 27 types of Seosan specialty products, including Tteumebugi rice, gamtae caramel, salted oysters and traditional Korean confections. The items were professionally packaged and delivered to 83 client companies. "Since 2021, we have consistently held the Seosan Table Day every year and have received a warm response from both the local community and our clients," a company official said. "We will continue to explore a variety of ways to grow together with the local community and our customers." Meanwhile, Hanwha TotalEnergies carries out a range of corporate social responsibility activities for the local community and its clients, including donations to a social contribution fund in Seosan, where its factory is located.

Sept. 17, 2026

SK hynix to invite 30,000 partner employees, families to appreciation event next month

'ThanksFULL Day' set for Oct. 15 at Seoul Land in Gwacheon About 130 key partners invited; programs center on togetherness and gratitude Company to also advance 304.7 billion won in payments ahead of Chuseok SK hynix will hold a large-scale appreciation event for employees of its partner companies and their families next month. The chipmaker announced Thursday it will host "ThanksFULL Day" on Oct. 15 at Seoul Land in Gwacheon, inviting about 30,000 people — including roughly 8,000 employees from around 130 key partner companies and their families. The event's name reflects the company's intent to express its heartfelt gratitude — "Thanks" — in full measure — "FULL" — to the partners who have helped drive its achievements. SK hynix credits the expertise of its partner companies as a key driver in advancing semiconductor technology development and production competitiveness. The company organized the event out of a conviction that the dedication and hard work of frontline employees at those partners were indispensable to its current success. The gratitude extends to families as well. The event is designed to give partner employees and the family members who have supported them a chance to create lasting memories together. Built around the themes of "togetherness" and "gratitude," the event will feature hands-on programs and activities for the whole family throughout the venue. All attendees will receive a welcome gift, and a special "kids' goods" set has been prepared for younger visitors — including a three-dimensional craft modeled on a semiconductor fab — so children can explore the world where their parents work in a fun, approachable way. SK hynix executives will be on hand to greet partner employees and their families in person. Cha Seon-yong, head of the Future Technology Research Institute, and Lee Byeong-gi, head of mass production operations — both of whom have worked alongside partners through every stage from technology development to mass production — will welcome attendees one by one at the venue entrance. President and CEO Kwak Noh-jung also plans to attend and personally convey his appreciation to partner employees and their families. The event extends SK hynix's ongoing co-growth initiatives. The company views the competitiveness of its partners as directly tied to the strength of South Korea's semiconductor ecosystem — and its own. To that end, it has run support programs spanning technology, finance and overall business operations. In July, it announced plans to deploy 1.4 trillion won ($1.03 billion) in co-growth funds over the next five years to strengthen support for semiconductor materials, components and equipment suppliers. On the technology side, SK hynix operates an "R&D Challenge Reward" program to assist partners that have solid technical capabilities but face funding constraints, as well as an "IPR Sharing Support Center" that shares its patents with partner companies. At the Yongin semiconductor cluster, it is also building a "Trinity Fab" for joint research, development and verification with partners, which it plans to open from 2027. Financial and operational support continues as well. Through its "Co-Growth Fund," the company provides low-interest financing to partners and has steadily improved its payment terms. Around major holidays, when cash demand tends to spike, SK hynix advances payments to ease liquidity pressure on its partners. This year, the company will pay approximately 304.7 billion won in supplier payments ahead of the Chuseok holiday. The move is intended to complement the company's formal support programs with tangible relief that partners can feel directly. The upcoming event goes a step further than these support measures, carrying a direct message of thanks and encouragement to the people who have worked side by side with SK hynix on the front lines. "Our partners are invaluable companions in building the competitiveness of Korean semiconductors, and SK hynix's achievements would not have been possible without the efforts of the partner employees who have worked alongside us in the field," Kwak said. "We will sincerely express our gratitude to their employees and families, and at the same time continue to provide practical support so that our partners can strengthen their technological competitiveness and grow on a stable footing."

Sept. 17, 2026

Lotte Global Logistics strengthens Central Asia ties on sidelines of Korea-Central Asia summit

CEO Kang Byung-gu attends economic cooperation events with five Central Asian nations; MOU signed with Shinline Group Lotte Global Logistics announced Thursday that it is moving to strengthen strategic logistics cooperation with Central Asian countries, using the first Korea-Central Asia Summit as a springboard. The summit, held in Seoul on Wednesday, was the first multilateral leaders' meeting between South Korea and five Central Asian nations, drawing heads of state and senior business figures from the region. In line with the summit, economic cooperation events bringing together business leaders from the participating countries were held Tuesday and Wednesday. Lotte Global Logistics CEO Kang Byung-gu attended in person, sharing insights on Central Asian market conditions and holding in-depth discussions on practical logistics cooperation. Kang first attended the Korea-Kazakhstan Business Roundtable on Tuesday. With about 180 government officials and business representatives from both countries present, he joined other attendees in aligning on ways to deepen economic cooperation between the two countries. A highlight of the event was an MOU signing ceremony with Shinline Group — Central Asia's largest ice cream manufacturer and a partner of Lotte Global Logistics since 2025 — further cementing their logistics cooperation. Through the agreement, the two companies reaffirmed the role of their existing regular consultative body. They agreed to develop a new logistics operating model tailored to the Kazakhstani market, build out related systems, and jointly identify new logistics business opportunities, with the aim of continuously expanding the scope of their cooperation. Kang also attended the Business Summit on Wednesday, where business leaders from all five Central Asian nations gathered. He used the occasion to strengthen his global network in the region and explore new business opportunities on multiple fronts. Based on the key agenda items discussed at the events, Lotte Global Logistics said it plans to sharpen its logistics competitiveness in Kazakhstan and secure new growth drivers across the Central Asian market. "We are deeply honored to have showcased Lotte Global Logistics' differentiated logistics capabilities on this international stage," a company official said. "We will continue to solidify our strategic partnerships with Central Asian markets and expand our business into a wide range of new sectors going forward." Meanwhile, Lotte Global Logistics has been carrying out a range of corporate social responsibility activities. On Sept. 9, Korea Cat Day, the company held a volunteer event and donated supplies to Gilnyangi wa Donggodongnak, a stray cat shelter.

Sept. 17, 2026