MINI unveils All-Electric Paul Smith Edition in Korea

MINI Korea said Thursday it will launch 11 special editions this year, kicking off with the All-Electric Mini Cooper Paul Smith Edition, as it looks to reinforce its position in Korea’s premium compact segment. The move follows strong initial demand. The first 100 preordered units of the All-Electric Mini Paul Smith Edition sold out within a month, prompting the company to secure additional supply. An internal combustion engine version of the Paul Smith Edition is also slated for release in the

Feb. 26, 2026

SK On signs 25,000-ton lithium supply deal with Posco

SK On said Wednesday it has signed a supply deal with Posco Holdings to secure up to 25,000 tons of lithium, advancing its efforts to diversify the battery raw materials supply chain away from China. Key executives, including Park Jong-jin, head of strategic procurement at SK On, and Lee Jae-young, head of the energy materials business division at Posco Holdings, attended a signing ceremony for the lithium supply agreement at SK On Green Campus in Seoul on Tuesday. Under the agreement, SK On wil

Feb. 25, 2026

Samsung SDI makes breakthrough in lithium-metal battery tech

Samsung SDI said Monday it has achieved a technological breakthrough that significantly improves the performance of lithium-metal batteries, a next-generation technology long constrained by challenges concerning safety and life span. Through joint research with Columbia University, Samsung SDI’s R&D Center developed a new electrolyte formulation that enhances both rechargeability and safety — two key barriers to commercializing lithium-metal batteries. Lithium-metal batteries offer energy densit

Feb. 23, 2026

New car purchase rates among people in 20s, 30s drop to 10-yr low in 2025

The respective rates of new passenger car purchases by South Koreans in their 20s and 30s fell to their lowest levels in a decade last year, industry data showed Monday. According to the data from auto industry data tracker Carisyou, new car registrations among people in their 20s totaled 61,962 in 2025, accounting for 5.6 percent of all new cars registered last year. The share of new car registrations by those in their 20s stood at 8.8 percent in 2016 but has declined steadily over the past yea

Feb. 23, 2026

Premium vs scale: Hyundai, Tesla clash in robot pricing

Hyundai Motor Group and Tesla are heading toward a second realm following their automotive rivalry — this time in humanoid robotics, extending a competitive dynamic first forged in the electric vehicle market. Tesla’s history of using aggressive pricing to defend and expand its EV dominance suggests it could deploy a similar strategy in robotics, setting up a potential price war as the market begins to scale. According to a recent report by the Export-Import Bank of Korea, Hyundai is expected to

Feb. 22, 2026

Samsung SDI to sell W10tr Samsung Display stake to fund ESS pivot

Samsung SDI is set to sell its 15.22 percent stake in Samsung Display — valued at about 10 trillion won ($6.9 billion) — to fund investments in energy storage systems and strengthen its financial structure as a prolonged slowdown in the electric vehicle market weighs on earnings. According to the company, it informed its board on Thursday of plans to sell its stake in Samsung Display, while details -- including the counterparty, deal size, terms and timeline -- remain undisclosed. The proposal w

Feb. 19, 2026

From slump to surge: Renault Korea’s strategic turnaround

Once struggling with shrinking sales and an aging lineup, Renault Korea is now reemerging as one of the most resilient foreign carmakers in South Korea — not by retreating, but by upgrading its role within the global group. At a time when global supply chains remain volatile, and Korea’s position as an export base is under pressure, Renault Group is doing something few rivals have: turning its Korean unit into a development and production hub for next-generation vehicles. The shift is part of Re

Feb. 18, 2026

SK On wins over 50% of W1tr government ESS bid

SK On staged a dramatic turnaround, winning the majority of a 1 trillion won ($695.3 million) contract in the South Korean government’s second bidding for domestic energy storage system projects. According to media reports on Thursday, SK On secured 50.3 percent, or 284 megawatts, of the 565-megawatt project to supply ESS to state-run substations across three of the seven selected regions in South Jeolla Province and on Jeju Island. Samsung SDI, which had dominated the first tender with 76 perce

Feb. 12, 2026

Korean battery-makers face US EV reality check

Korea’s leading battery-makers are reworking their North American playbooks, shifting from electric vehicle batteries to energy storage systems, as US automakers retreat from aggressive electrification targets and dissolve joint ventures. However, with EV batteries long serving as their main profit driver, a prolonged downturn in the sector is raising concerns that the strategic shift may not be enough to sustain meaningful growth. According to Bloomberg on Wednesday, Stellantis is exploring an

Feb. 11, 2026

Hyundai, Kia, BMW to recall nearly 180,000 vehicles over software defects

Hyundai Motor Co., Kia Corp. and BMW Korea will voluntarily recall a combined 179,880 vehicles across 51 models due to software-related manufacturing defects, the transport ministry said Wednesday. According to the ministry, Hyundai Motor will recall 36,603 units of the Porter II Electric due to a software error that could affect braking performance. The automaker will also take corrective measures for 39,148 vehicles across 20 models, including the Grandeur and the Sonata, over a software defec

Feb. 11, 2026

Samsung SDI, Korea East-West Power partner on global ESS projects

Samsung SDI said Monday that it has partnered with state-run Korea East-West Power to jointly pursue global energy storage systems and renewable energy projects. The signing ceremony for a memorandum of understanding on global energy power generation projects was held on Friday at StarPlus Energy — a battery joint venture facility between Samsung SDI and Stellantis — in Kokomo, Indiana. Attendees included Kim Heon-joon, executive vice president of Samsung SDI Americas; Kim Yun-jae, executive vic

Feb. 9, 2026

LG Energy Solution to supply W1tr of ESS batteries to Hanwha Qcells

LG Energy Solution secured a roughly 1 trillion won ($690 million) deal with Hanwha Qcells to supply energy storage system batteries as part of its push to expand its footprint in the fast-growing North American ESS market. LG Energy Solution said Wednesday that LG Energy Solution Vertech, its wholly owned US-based ESS integrator, and Hanwha Qcells’ US subsidiary have signed an agreement covering 5 gigawatt-hours of ESS batteries. Under the deal, LG Energy Solution will supply cost-competitive l

Feb. 4, 2026

EV exports to US plunge nearly 90% in 2025 amid Trump tariffs, subsidy rollback

EV exSouth Korea's electric vehicle exports to the United States plunged nearly 90 percent last year, hit by Washington's auto tariffs and the rollback of subsidies under the administration of US President Donald Trump, industry data showed Wednesday. According to the data from the Korea Automobile & Mobility Association, South Korea's EV exports to the US totaled 12,166 units in 2025, down 86.8 percent from 92,049 units the previous year. It marks the lowest annual figure since 2022, when EV sh

Feb. 4, 2026

Tariffs loom, but GM Korea pushes for record output

GM Korea has raised its production target for this year to around 500,000 vehicles, signaling renewed commitment to its Korean operations despite the resurfacing of exit speculation fueled by higher US tariffs. According to industry sources on Tuesday, GM Korea is targeting production of about 500,000 vehicles in 2026, up 8.5 percent from last year's 460,826 units. If achieved, it would be a return above the 500,000-unit threshold for the first time since marking 519,385 units in 2017. The Korea

Feb. 3, 2026

Hyundai Mobis to develop full-windshield holographic display by 2029

Hyundai Mobis said Tuesday it had partnered with German optical system maker Zeiss, German adhesive tape maker Tesa, French automotive glass maker Saint-Gobain Sekurit to develop and produce a next-generation holographic windshield display by 2029. The four-company alliance expands on the Korean auto parts-maker’s exclusive mobility partnership with Zeiss launched in 2024, aiming to commercialize the advanced technology. Under the contract, Hyundai Mobis will oversee system integration and the d

Feb. 3, 2026