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☆ Hyundai to consider joining Tesla's North American charging standard alliance
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 20 (Reuters) - Hyundai Motor (005380.KS) will consider making its vehicles more readily compatible with the charging standard Tesla (TSLA.O) is pushing for in North America, the South Korean automaker's CEO said on Tuesday. Tesla's Superchargers make up about 60% of available U.S. fast chargers and Ford (F.N) and General Motors (GM.N) have in recent weeks struck deals with Tesla to use its charging technology, now dubbed the North American Charging Standard (NACS). Jaehoon Chang, who is also Hyundai's president, said the company would consider joining the alliance of automakers shifting to Tesla's standard, but that it would have to determine that was in the interest of its customers. One issue, he said, is that Tesla's current network of Superchargers does not allow for the faster charging Hyundai's electric vehicles can achieve on other chargers. Hyundai's new electric cars, including the Ioniq 5, use an 800-volt electrical architecture to allow for faster charging, while Tesla's Superchargers operate at a lower voltage.

Persons: Tesla's Superchargers, Tesla, Jaehoon Chang, Chang, Tesla's, Biden, Hyunsu Yim, Kevin Krolicki, Jan Harvey Organizations: Hyundai, Korean, Ford, General Motors, American, U.S, Thomson Locations: SEOUL, KS, North America, U.S, Seoul

☆ Hyundai Motor to invest $85.41 bln by 2032 to accelerate EV plans
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

SEOUL, June 20 (Reuters) - South Korea's Hyundai Motor Co (005380.KS) plans to invest about 109.4 trillion won ($85.41 billion) in the period through to 2032, the company said on Tuesday, including around 35.8 trillion won allocated for electric vehicles (EVs). Hyundai Motor, which together with affiliate Kia Corp (000270.KS) is among the world's 10 biggest automakers by sales, also said in a statement for the company's investor day that it plans to lift localisation of EV production in the United States, its biggest market, by increasing the share of output from 0.7% to 75% by 2030. The carmaker is targetting the sale of 2 million EV units annually by 2030 and aims to achieve a more than 10% profitability rate for EVs in the same year. ($1 = 1,280.8200 won)Reporting by Hyunsu Yim Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

Persons: 1,280.8200, Hyunsu Yim, Ed Davies Organizations: Hyundai, Kia Corp, Thomson Locations: SEOUL, KS, United States

☆ 'Netflix Effect' lifts Korean content but market control worries grow
▼ + stars: | 2023-06-19 | by ( Hyunsu Yim | ) www.reuters.com time to read: +4 min

Netflix's market weight in South Korea dwarfs that of local platforms such as Tving, Wavve and Watcha. Netflix boasted a 38.2% market share in South Korea last year, according to Mobile Index, overshadowing Tving's 13.1%. Unlike the EU, South Korea does not have laws requiring foreign streaming services to produce or invest in local content. While the project was commissioned by Netflix UK, it centres on genetic cloning fraud in South Korea and includes file clips from broadcasters’ archives. "The government needs to come up with a system to ensure that excess profits can be returned to South Korean creators."

Persons: Ted Sarandos, Han Duck, Heo Seung, Yoon Suk Youl, Hwang Dong, hyuk, Aditya Thayi, Lim Jong, 1,281.7400, Hyunsu Yim, Sam Holmes Organizations: Netflix, South, Korea Economic Research, Mobile, EU, Reuters Netflix, Sejong University, Thomson Locations: SEOUL, South Korea, Seoul, Korea, South, U.S, London

☆ North Korea says botched satellite launch was 'gravest failure'
▼ + stars: | 2023-06-18 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

KCNA via REUTERSSEOUL, June 19 (Reuters) - North Korea has said its botched military satellite launch last month was the "gravest failure" at the ruling party's latest key meeting, state media KCNA reported on Monday. The enlarged plenary meeting was held between Friday and Sunday, ordering workers and researchers to analyze the failed military satellite launch and prepare for another in the near future. Those in charge of the satellite launch were "heavily criticized," the report said. It marked the eight enlarged plenary meeting of the 8th Central Committee of the Workers' Party of Korea (WPK), the country's ruling party. North Korea also vowed it will continue to develop its nuclear capability and strengthen solidarity with other countries that oppose what it called the "U.S. strategy for world supremacy."

Persons: Kim Jong Un, Hyunsu Yim, Lisa Shumaker Organizations: 8th Central Committee of, Workers ' Party of, North, Korean Central News Agency, KCNA, REUTERS, Workers ' Party of Korea, North Korean, Korea's Unification Ministry, Thomson Locations: Workers ' Party of Korea, Pyongyang, North Korea, REUTERS SEOUL, U.S

☆ South Korea, U.S. to hold high-level meeting on cyber security
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: 1 min

SEOUL, June 16 (Reuters) - South Korea and the United States will hold a high-level meeting on cyber security in Washington on June 20, the presidential office in Seoul said on Friday. The meeting is seen as a follow-up to the summit between South Korean President Yoon Suk Yeol and U.S. President Joe Biden in April. Reporting by Hyunsu Yim Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoon Suk Yeol, Joe Biden, Hyunsu Yim, Ed Davies Organizations: Korean, Thomson Locations: SEOUL, South Korea, United States, Washington, Seoul

☆ U.S. nuclear-powered submarine arrives at South Korea's Busan port
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

SEOUL, June 16 (Reuters) - A U.S. nuclear-powered submarine has arrived at a port in the South Korean city of Busan, the South Korean military said on Friday. It is the first time in nearly six years that a submarine classified as "SSGN" by the U.S. Navy, or a cruise-missile submarine, has stopped off in South Korea. The arrival comes after North Korea fired two short-range missiles off its east coast on Thursday and follows a failed attempt by Pyongyang to launch a spy satellite last month. In April, South Korean President Yoon Suk Yeol and U.S. President Joe Biden agreed in Washington to "further enhance the regular visibility of strategic assets" on the Korean Peninsula. The leaders also agreed that a U.S. Navy nuclear-armed ballistic missile submarine (SSBN) will visit South Korea for the first time since the 1980s to help demonstrate Washington's resolve to protect the country from a North Korean attack.

Persons: Yoon Suk Yeol, Joe Biden, Hyunsu Yim, Ed Davies Organizations: South Korean, U.S . Navy, North Korea, South, Thomson Locations: SEOUL, U.S, Korean, Busan, South Korea, Pyongyang, Washington

☆ North Korean hackers create fake web portal, South's spy agency says
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 15 (Reuters) - North Korean hackers have set up a fake website that looks almost identical to the popular South Korean web portal Naver, marking a more sophisticated attempt to target users in the South, Seoul's spy agency said. "North Korea's hacking attacks targeting South Koreans are getting more elaborate," the spy agency said in a statement on Wednesday. Naver (035420.KS), which is operated by the tech giant of the same name, is South Korea's most-used web portal and search engine and offers various services ranging from email, news aggregation and online shopping. North Korean hackers have been blamed for cyberattacks netting millions of dollars, though Pyongyang previously has denied being involved in cybercrime. International monitors say stolen money has been pumped into North Korea's sanctioned nuclear and missile programs.

Persons: Seoul's, Daum, Hyunsu Yim, Ed Davies, Lincoln Organizations: National Intelligence Service, United Nations, International, Thomson Locations: SEOUL, Naver, South, Pyongyang, cybercrime, North Korea, Korean

More than 85% of the South Korean public oppose Japan’s plan, according to a survey last month by local pollster Research View. Seven in 10 people said they would consume less seafood if the wastewater release goes ahead. "We are getting more customers than usual lately and many of them seem worried about the planned wastewater release," he said. Social media posts talking about buying salt in large amounts and urging people to do the same have also gone viral. Order volumes and inquiries about buying salt have increased as of late, according to the local branches of the National Agricultural Cooperative Federation known as Nonghyup in Sinan County, a region famous for producing sea salt.

Persons: Japan's, Hyun Yong, gil, Daewoung Kim, Jimin Jung, Hyunsu Yim Organizations: sil, South, South Korea's Ministry of, Fisheries, “, country’s, Of Fisheries Cooperatives, National Agricultural Cooperative Federation, NHK, Thomson Locations: SEOUL, Fukushima, Seoul, Tokyo, Sinan County, South Korea, Insanaga, KS, Japan

☆ North Korean youth group donates rocket launchers to military - media
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

SEOUL, June 7 (Reuters) - A North Korean youth group has donated rocket launchers to the military in a show of "fervent patriotism", state media KCNA reported on Wednesday, as the isolated state confronts what it sees as growing foreign threats. The donation of military equipment took place at a ceremony on Tuesday as the Korean Children's Union (KCU), a political youth group, celebrated its 77th anniversary. The KCU, whose members are known for their red scarfs, was set up to promote the North's political ideology including "Juche", or self reliance. North Korea has defied U.N. Security Council resolutions by test firing various missiles, including its biggest intercontinental ballistic missile this year. The donated rocket launchers were dubbed "Sonyeon", which means boy in Korean, although the youth group's members include boys and girls.

Persons: KCNA, Hyunsu Yim, Ed Davies, Robert Birsel Organizations: Korean Children's Union, Thomson Locations: SEOUL, Korean, North Korea

☆ North Korea's Kim Yo Jong promises more spy satellite launches -KCNA
▼ + stars: | 2023-05-31 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

SEOUL, June 1 (Reuters) - North Korea's Kim Yo Jong, leader Kim Jong Un's sister, has said her country's military spy satellite will soon enter into orbit and promised Pyongyang will increase military surveillance, state media KCNA reported on Thursday. Her remarks follow the failure of a North Korean satellite launch on Wednesday. In her statement, Kim said the criticisms of Wednesday's test were "self-contradiction" as the U.S. and other countries have already launched "thousands of satellites." In a separate statement carried by KCNA, North Korea's vice foreign minister Kim Son Gyong criticized U.S.-led military drills in the region including a multinational anti-proliferation naval drill. "However, activity at the main launch pad is consistent with post-launch assessment and clean-up efforts."

Persons: Kim Yo Jong, Kim Jong, Kim, KCNA, Antonio Guterres, Kim Son Gyong, Hyunsu Yim, Josh Smith, Chris Reese, Grant McCool Organizations: South, Thomson Locations: SEOUL, Pyongyang, Korean, South Korean, North Korea, South Korea, Japan, United States, North, U.S

☆ South Korea hosts its first summit with Pacific island leaders
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

SEOUL, May 29 (Reuters) - South Korean President Yoon Suk Yeol begins the country's first summit with leaders of Pacific islands on Monday, as Seoul seeks to increase its influence in a region that has become the focus of intense geopolitical rivalry. The South Korean president held bilateral talks with some of the visiting Pacific leaders over the weekend including Kiribati President Taneti Maamau and Papua New Guinean Prime Minister James Marape. Australian Defence Minister Richard Marles will also attend the Korea-Pacific Islands Summit, his office said on Saturday, adding it would show cooperation between the 18 members of the Pacific Island Forum and South Korea for a secure region. Indian Prime Minister Narendra Modi pledged more trade and development assistance in a summit with a dozen Pacific island leaders in Papua New Guinea (PNG) last week. The United States Secretary of State Antony Blinken also signed a defence agreement with PNG after a Pacific summit.

SEOUL/TOKYO, May 29 (Reuters) - North Korea has notified Japan of a plan to launch a satellite between May 31 and June 11, a Japanese coast guard official said on Monday. North Korea informed the Japanese coast guard of the planned launch, the coast guard official told Reuters, confirming earlier reports by public broadcaster NHK and other Japanese media. The Japanese prime minister's office urged North Korea to refrain from the launch and said it would work closely with allies. "We strongly urge North Korea to refrain from launching," the prime minister's office said on Twitter, adding it would cooperate "with relevant countries such as the U.S. and South Korea". North Korean leader Kim Jong Un in May inspected a military satellite facility, North Korean state media KCNA reported.

☆ North Korea to hold key ruling party meeting in early June
▼ + stars: | 2023-05-28 | by ( ) www.reuters.com time to read: +1 min

SEOUL, May 29 (Reuters) - North Korea's ruling party will hold a key meeting in early June to review the country's economic plans, state media KCNA reported on Monday. It will mark the 8th Plenary Meeting of the 8th Central Committee of the Workers' Party of Korea (WPK), the country's ruling party. The last plenary meeting was held in February to discuss improving the economy and agricultural sector amid fears of food shortages. North Korea also criticized recent joint military drills between the U.S. and South Korea as "dangerous war gambles" in a separate commentary carried by KCNA also on Monday. "It is no exaggeration to say that the war scenario for aggression on the DPRK has already entered its implementation stage through training stage," the commentary read.

SEOUL, May 26 (Reuters) - South Korea's Hyundai Motor Group and LG Energy Solution Ltd (LGES) (373220.KS) on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits. Vehicles from Hyundai Motor Co (005380.KS) and sister automaker Kia Corp (000270.KS) are currently not eligible. [1/2] The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. LGES and Hyundai Motor Group, which houses Hyundai Motor, Kia and autoparts maker Hyundai Mobis Co Ltd (012330.KS), will each own 50% of the joint venture. In April, Hyundai Motor finalised a $5 billion EV battery joint venture in the United States with SK On, a battery unit of SK Innovation Co Ltd (096770.KS), boosting electrification efforts in its largest market.

☆ South Korea's Yoon thanks Japan's Kishida for his efforts to mend ties
▼ + stars: | 2023-05-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] South Korean President Yoon Suk Yeol shakes hands with Japanese Prime Minister Fumio Kishida during a joint press conference after their meeting at the presidential office in Seoul on May 7, 2023. ... Read moreSEOUL, May 21 (Reuters) - South Korean President Yoon Suk Yeol said on Sunday that Japanese Prime Minister Fumio Kishida's words resonated with many South Koreans when earlier this month he said that "his heart hurts" for those who suffered as wartime labourers under Japan's colonial rule. Yoon made the remark at a meeting with Kishida on the sidelines of the Group of Seven (G7) Summit in Hiroshima in Japan. Ahead of their meeting on Sunday, Yoon and Kishida visited the Hiroshima Memorial Peace Park to pay their respects at a memorial for Korean victims who had perished in the atomic bombings in 1945. "I feel that our visit was important for both Japan and South Korea relations, as well as for us to pray for world peace," Kishida said to Yoon ahead of the meeting.

☆ North Korea’s Kim Jong Un inspects military satellite station -KCNA
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

SEOUL, May 17 (Reuters) - North Korean leader Kim Jong Un inspected a military satellite station on Tuesday, state media KCNA reported. The report also said Kim has approved the next steps of the plan by the non-permanent satellite-launching preparatory committee, a group dedicated to launching North Korea's first military intelligence satellite. Kim said successfully launching the military reconnaissance satellite is an "urgent requirement of the prevailing security environment of the country," according to the report. Activity at the launch pad area at North Korea’s Sohae Satellite Launching Station has resumed after nearly a half-year hiatus, 38 North, a U.S.-based North Korea monitoring project, reported this week, citing recent satellite imagery. The 38 North report, however, added much remains to be done for a satellite launch to be undertaken.

☆ North Korea's Kim says Russia 'will prevail' over hostile forces
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

SEOUL, May 9 (Reuters) - North Korean leader Kim Jong Un said Russia "will prevail" in its fight against what he described as "imperialists," state news agency KCNA said on Tuesday, in remarks seen to be aimed at Ukraine and its Western supporters, such as the United States. North Korea has forged closer ties with the Kremlin and backed Moscow after it invaded Ukraine last year, including its proclamation later of having annexed parts of Ukraine that most U.N. members condemned as illegal. "We send warm wishes to you, the Russian army and the people of Russia for their holy fight to preserve world peace," the agency quoted Kim as telling Russian President Vladimir Putin in a letter. Kim also congratulated Putin on Tuesday's Victory Day anniversary that celebrates the 1945 defeat of Nazi Germany, saying Russia would continue to protect its "autonomy" and the "stability of the region". Reporting by Hyunsu Yim; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Japan PM Kishida meets lawmakers, business leaders to finish South Korea visit
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

[1/2] Japanese Prime Minister Fumio Kishida talks to South Korean business leaders during their meeting in Seoul, South Korea, May 8, 2023. Yonhap via REUTERSSEOUL, May 8 (Reuters) - Japanese Prime Minister Fumio Kishida met with South Korean lawmakers and business leaders in Seoul on Monday to discuss potential bilateral cooperation as he wrapped up the first visit by a Japanese leader in 12 years. "I would like to strengthen the relationship I have with (South Korean) President Yoon and join forces with him to forge a new era," Kishida told reporters in Seoul after meeting with South Korean lawmakers at his hotel. Kishida told South Koreans on Sunday his "heart hurts" when he thinks of suffering during Japanese colonial rule of South Korea. He arrived in South Korea on Sunday following South Korean President Yoon Suk Yeol's trip to Tokyo in March where they sought to close a chapter on the historical disputes that have dominated Japan-South Korea relations for decades.

☆ Seoul's LGBT festival blocked by Christian concert outside city hall, organisers say
▼ + stars: | 2023-05-04 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

SEOUL, May 4 (Reuters) - Seoul's city government has effectively blocked South Korea’s largest annual LGBT festival from taking place outside city hall this year after granting a permit for a Christian youth concert instead, the LGBT event’s organisers said this week. Yang Sun-woo, chief organiser of the Seoul Queer Culture Festival, said the city's move is an act of discrimination. A concert for young people will take place outside the city hall on that day instead. A representative for the CTS Cultural Foundation said that the timing was not aimed at blocking the LGBT festival. The Seoul city government did not immediately reply to a request for comment.

[1/2] Electric power transmission pylon miniatures and LG Energy Solution logo are seen in this illustration taken, December 9, 2022. LG Energy Solution (LGES) reported an operating profit of 633 billion won ($472.6 million) for the January-March period, up 145% from 259 billion won a year earlier. When asked about rival Chinese battery makers' efforts to enter the U.S. market, LGES Chief Financial Officer Lee Chang-sil said the company would maintain its competitive position in the U.S. LG Energy Solution's revenue for the quarter doubled to 8.7 trillion won, LG Energy said in a regulatory filing. Shares of LG Energy Solution (LGES), carved out of LG Chem Ltd (051910.KS) last year, rose as much as 2.4% in morning trade, outpacing a flat broader KOSPI market (.KS11).

☆ LG Energy Solution Q1 profit more than doubles, in line with forecast
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 26 (Reuters) - South Korea's LG Energy Solution (373220.KS) on Wednesday posted a 145% jump in quarterly profit, as the battery maker factored in subsidies from the U.S. Inflation Reduction Act and solid sales of electric vehicles (EVs) in U.S. and European markets. The company, which supplies Tesla Inc (TSLA.O), General Motors Co (GM.N) and others, reported an operating profit of 633 billion won ($472.6 million) for the January-March period, versus 259 billion won a year earlier. That compared with an average analyst forecast of 633 billion won compiled by Refinitiv SmartEstimate. Revenue for the quarter rose 101% to 8.7 trillion won, LG Energy said in a regulatory filing. Shares of LG Energy Solution was trading up 0.7%, versus benchmark KOSPI's (.KS11) 0.1% rise as of 0044 GMT.

☆ South Koreans tap cash-giving apps to help offset rising living costs
▼ + stars: | 2023-04-24 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

As many as three in four adults earn cash through such applications, showed a recent survey by job portal Incruit. Retiree Han Sun-jae, 77, said he had made some 50,000 won ($37.91) so far through the Toss app. The trend shows people are going the extra mile to help overcome an increasingly dire economic situation, experts said. "While the effort to make pocket money is commendable, it could also leave people vulnerable to personal data use," said Lee Eun-hee, a consumer studies professor at Inha University. ($1 = 1,318.79 won)Reporting by Hyunsu Yim; Additional reporting by Ju-min Park; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ K-pop singer Moonbin, member of boy band Astro, dies aged 25
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 20 (Reuters) - South Korean singer Moonbin, a member of K-pop boy band Astro, has died at the age of 25, his music label Fantagio said on Thursday. Mooonbin was a child actor before making his debut as a member of Astro in 2016. Local media reported that the singer was found dead at his home in the Gangnam district of Seoul and that suicide was suspected. Following the news about the death of Moonbin, "all idols" trended on Twitter in South Korea. In 2017, Kim Jong-hyun, the lead singer of top South Korean boy band SHINee died in an apparent suicide aged 27.

☆ K-pop star and BTS member J-Hope starts mandatory military service
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 18 (Reuters) - J-Hope, a member of Grammy-nominated K-pop boy band BTS, began his mandatory military service in South Korea on Tuesday, the second member of the group to do so. REUTERS/Jeenah MoonJ-Hope, 29, is the second member of the popular septet to enlist following Jin, the oldest, who joined the military in December. All able-bodied men in South Korea between the ages of 18 and 28 must serve in the military for 18 to 21 months. The military enlistment of BTS members has drawn attention from not just fans but also politicians in South Korea. Some lawmakers floated the idea of granting the hit group an exemption from mandatory military service to allow them to continue to perform instead.

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