Korea

Hyundai has confirmed that it will reveal a new Ioniq three-row electric SUV before year's end.

The 2025 model year SUV will be similar in size to the Palisade and should effectively be a production version of the Seven concept Hyundai debuted at the Los Angeles Auto Show in 2021.

The Ioniq three-row SUV will ride on Hyundai's current E-GMP architecture, shared with the Kia EV9, rather than the new platform being created for Genesis vehicles.

Single- and dual-motor versions of the Ioniq three-row SUV will likely be offered, with 800-volt electric architecture allowing for fast charging in under 20 minutes, over 300 miles range on a single charge, and advanced software.

(multiple sources on July 16, 2024)

On July 10, KIRCHHOFF Automotive signed a memorandum of understanding with Hyundai Steel Company to supply low-carbon steel products. It will give KIRCHHOFF Automotive an additional opportunity to source green steel from as early as 2025.

Hyundai Steel Company will supply steel in the form of cold-rolled and hot-dip galvanized coils. KIRCHHOFF Automotive will test the steel. These will be produced in a complex process that combines the blast furnace process and the electric arc furnace process. 

The CO2 reduction will be achieved through a mixing process of EAF and BOF material (Electric Arc Furnace/Blast Oxigene Furnace), which will then reduce the CO2 footprint for the delivered product by around 20% compared to the steel currently supplied from the blast furnace route. 

Based on KIRCHHOFF Automotive press release 

Reported on July 7, 2024, Thailand’s Department of Trade Negotiations (DTN) revealed that the first round of talks on the Economic Partnership Agreement (EPA) between Thailand and South Korea is scheduled for July 9-11 in Bangkok.

Developed from the previous FTAs that involve both Thailand and South Korea and other countries, namely the ASEAN-Korea Free Trade Agreement and Regional Comprehensive Economic Partnership, this new bilateral EPA is expected to further raise Thailand’s competitiveness in attracting more large companies and startups from South Korea. 

Among Thailand’s target groups of investors from South Korea are EV manufacturers, EV parts makers, and information technology companies.

From an article of Bangkok Post on July 7, 2024 and South Korea Ministry of Trade, Industry and Energy (MOTIE)July 9, 2024