Motherson Group plans joint venture with Egtronics, Korea for vehicle power electronics On June 19, Samvardhana Motherson International Limited (SAMIL) announced that its board of directors approved the execution of a joint venture agreement (JVC) with Egtronics Co. Ltd., South Korea. SAMIL will have 51% shares in JV while Egtronics will have 49%.  The JVC will be consolidated by SAMIL. The new company shall be incorporated with an initial paid-...

News  Updated at: 2025/06/20

Sandhar Technologies, India sells entire stake in joint ventures with Kwangsung Corporation, South Korea On June 19, Sandhar Technologies Limited announced that it has executed share purchase agreements with Kwangsung Corporation Ltd. of South Korea for the sale of its entire stake in two entities—Kwangsung Sandhar Technologies Private Limited (KSTPL) and its subsidiary Kwangsung Sandhar Automotive Systems Private Limited (KSASPL). As per the a...

News  Updated at: 2025/06/20

Daedong Gear receives order for EV gear modules from Hyundai Transys Several South Korean media sources reported that South Korea’s Daedong Gear Co., Ltd., won an order from Hyundai Transys Ltd., a South Korean transmission manufacturer, for gear module products for next-generation electric vehicles (EVs) and extended range EVs (EREVs). The products on the contract include carriers and differential assemblies for electric all-wheel drive system...

News  Updated at: 2025/06/20

South Korea’s Korea Zinc to acquire 5% shares in TMC in Canada Several South Korean media sources reported that South Korea’s Korea Zinc Co., Ltd. will acquire 5% of the shares in The Metals Company (TMC), a Canadian mineral resource developer, for USD 85 million (JPY 12.29 billion). With this investment, the company aims to stably procure manganese ore that TMC is preparing to mine. Korea Zinc will strengthen this business partnership by, fo...

News  Updated at: 2025/06/20

Ilshin Plastic to build new plant in Daegu, South Korea South Korea’s Ilshin Plastic Co., Ltd. announced that it will build a new factory in the Daegu Metropolitan City, investing Korean won (KRW) 30.9 billion (JPY 3.4 billion). The company has its headquarters and a plant in the Daegu Metropolitan City and manufactures plastic automotive interior and exterior parts. With this investment, it aims to respond to a continuously growing number of n...

News  Updated at: 2025/06/20

SK nexilis to sell some shares in Malaysian subsidiary to Toyota Tsusho SK nexilis Co., Ltd., South Korea’s manufacturer of copper foil for secondary batteries, signed a contract to sell some of its shares in SK nexilis Malaysia, its subsidiary in Malaysia, to Toyota Tsusho in Japan. Toyota Tsusho will invest USD 110 million (JPY 15.94 billion). With this investment, Toyota Tsusho aims to purchase and supply copper foil produced by SK nexilis i...

News  Updated at: 2025/06/20

Toyota Tsusho to set up battery recycling JV with South Korea’s LG Toyota Tsusho Corporation (Toyota Tsusho) announced on June 19 that it has reached an agreement with South Korea’s LG Energy Solution Ltd. (LG Energy Solution) to establish a joint automotive battery recycling company in North Carolina, the United States. The new company, Green Metals Battery Innovations, LLC, will be owned 51% by Toyota Tsusho’s U.S. subsidiary and 49% by L...

News  Updated at: 2025/06/20

Nexen Tire to supply OE tires for Kia Tasman South Korea’s Nexen Tire Co., Ltd. announced that it will start supplying the Roadian HTX2 as original equipment (OE) tires for Kia Corporation’s new pickup truck, the Tasman. The tire size is 265/65R17. The Roadian HTX2 is an all-season tire designed for both on-road comfort and off-road performance of sports utility vehicles (SUVs) and pickup trucks. It will be fitted on the Tasman for exports to...

News  Updated at: 2025/06/17

Fino receives order for NCM precursors from L&F South Korea’s Fino Co., Ltd. won two orders for NCM (nickel, cobalt, and manganese) precursors from a South Korean cathode manufacturer, L&F Co., Ltd. The first contract is valid from June to September 2025, and the sales under the deal are expected to reach KRW 6.01 billion. That value is equivalent to 19.6% of Fino’s sales in the fiscal year ended December 2024, which totaled KRW 30.68 billion...

News  Updated at: 2025/06/17

NIRA Dynamics, Sweden partners with BANF Smart Tire, Korea to boost vehicle safety and tire monitoring On June 12, NIRA Dynamics, a Swedish automotive software company, signed a memorandum of understanding (MoU) with South Korea's BANF Smart Tire System to enhance vehicle safety and predictive maintenance. The collaboration will integrate BANF's high-frequency tire sensors into NIRA's established software platform, improving real-time monitoring ...

News  Updated at: 2025/06/16

Hyundai Steel to supply automotive steel to GM Korea, replacing Chinese supplier On June 13, Korean multiple sources reported that Hyundai Steel has signed a deal to supply GM Korea with approximately 100,000 tons of automotive steel annually, starting as early as September. This supply will replace the volume previously sourced from China’s Baoshan Iron & Steel, the world’s largest steelmaker by crude steel output. Until now, GM Korea had so...

News  Updated at: 2025/06/16

GnT to supply converters to Prettl South Korea’s electric vehicle (EV) parts manufacturer, GnT, has signed a letter of commitment (LOC) with a German electronics company, Prettl, regarding converter supplies. Based on the LOC, GnT is expected to deliver converters worth KRW 460 billion (JPY 50.6 billion) by 2030. Established in 2022, GnT has headquarters and a research and development Center in Cheonan-si, Chungcheongnam-do. It plans to invest ...

News  Updated at: 2025/06/16

Hyundai Steel to supply automotive steel sheets to GM Korea Several South Korean media sources reported that Hyundai Steel Co., Ltd. (Hyundai Steel) will supply GM Korea Company with 10 tons of automotive steel sheets annually, starting in September 2025. Hyundai Steel has been supplying steel sheets primarily to Hyundai Motor Company and Kia Corporation, and this is the first time it supplies to GM Korea. Meanwhile, GM Korea has been purchasing ...

News  Updated at: 2025/06/16

f, two weeks, to countries, telling them what the deal is,” Trump said. “And I think you understand that, saying this is the deal, you can take it or leave it.” While Trump said the U.S. was "rocking in terms of deals," as it held trade talks with about 15 countries, including Japan and South Korea, it could not do that for its 150-plus trading partners. Trump’s remarks come ahead of a July 9 deadline, when the administration is expected ...

News  Updated at: 2025/06/13

ave invested 10 cents if we didn't have tariffs, including for manufacturing American steel, which is doing great," said Trump. In May, GM noted it had a current tariff exposure of between USD 4 billion and USD 5 billion, including USD 2 billion on the more affordable vehicles it imports from South Korea, where it makes entry-level Chevrolet and Buick models. (multiple sources on June 12, 2025)...

News  Updated at: 2025/06/13

Hyundai Motor launches all-new Nexo FCEV midsize SUV On June 10, Hyundai Motor Co. began sales of its second-generation hydrogen fuel cell electric vehicle (FCEV), the all-new NEXO midsize SUV, in Korea, unveiling key features and pricing for the fully redesigned model. The upgraded NEXO was first unveiled last April at the 2025 Seoul Mobility Show and represents the first full redesign of Hyundai’s hydrogen-powered SUV since its debut in 2018....

News  Updated at: 2025/06/12

Posco Future M inaugurates factory in Gwangyang, South Korea A South Korean cathode material manufacturer, Posco Future M Co., Ltd., held a completion ceremony for its new precursor plant in Gwangyang, Jeollanam-do. The company plans to enhance its supply chain competitiveness by establishing a self-sufficiency system for precursors of cathode materials. The new plant can make 45,000 tons annually to meet the needs for 500,000 electric vehicles (...

News  Updated at: 2025/06/12

South Korea’s SungEel HiTech to jointly develop next-generation battery recycling technology with Factorial Energy Several South Korean media sources reported that SungEel HiTech Co., Ltd., a South Korean secondary battery recycling company, agreed to co-develop a next-generation battery recycling solution with Factorial Energy, a US solid-state battery startup. The two companies plan to develop a recycling solution for effectively processing s...

News  Updated at: 2025/06/12

Future Graph to build spherical graphite anode material plant in Saemangeum, South Korea South Korea’s Future Graph will build a spherical graphite anode material factory in Saemangeum, Jeonbuk Special Self-Governing Province, investing KRW 440 billion (JPY 44 billion). The company was established in May 2025 as a subsidiary of Posco Future M Co., Ltd., a group company of the Posco Group in South Korea, and a manufacturer of cathode and anode m...

News  Updated at: 2025/06/12

Hands wins order for aluminum wheels from Kia South Korea’s Hands Corporation received an order for aluminum wheels from Kia Corporation. The contract is valid from April 2027 to March 2039, and the sales under the deal are expected to reach KRW 105.08 billion. That value is equivalent to 13.7% of its consolidated sales in the fiscal year 2024, which was KRW 764.44 billion. (From a press release on June 4, 2025)...

News  Updated at: 2025/06/11