Ford insists 15% tariff agreements with Japan, South Korea and EU hurt it Ford Motor Co. has spent several days making the case to the public and the Trump Administration that the company is being penalized for its highly North American manufacturing process and described the situation as "urgent", describing the new 15% automotive import tariff deals and remaining sectoral tariffs as disadvantaging their company. Ford explained its disadvantage ...

News  Updated at: 2025/08/06

Vueron, Korea and Smart Radar System sign MoU for autonomous technologies On July 29, Vueron Technology signed an MOU with Smart Radar System, a leading developer of 4D imaging radar, to create a sensor fusion solution that blends LiDAR’s precision with radar’s environmental robustness. Vueron is a leading LiDAR perception software provider. Smart Radar System Inc. is a technology company specializing in advanced radar systems designed to pro...

News  Updated at: 2025/08/05

to's investment is estimated to be between USD 2 and 2.35 million. The JV will focus on the development and production of automotive roller blinds. The first mass-produced models will be the TATA Group's Nexon and Curvv side window projects. The JV has also secured a side window contract from South Korea's Hyundai Motor Group (HKMC). In addition, based on this partnership, Huangtian has obtained the side window project of SMRP, a related company ...

News  Updated at: 2025/08/04

New vehicle sales by 5 major OEMs in South Korea increase 0.9% in July Five Korean automakers announced domestic new vehicle sales in July. New vehicle sales in South Korea increased by 0.9% compared to the same month in the previous year to 110,926 units. Despite continued uncertainty over potential U.S. auto tariffs, both domestic and international sales remained solid. By company, Hyundai Motor led the market with 56,227 units sold (50.7% mark...

News  Updated at: 2025/08/04

U.S. auto sales up 7.5% in July, automakers poised to raise prices after tariff deals with Japan, Europe, and South Korea The number of new vehicles sold in the U.S. in July 2025 (preliminary figures including estimates for GM/Stellantis/Tesla, etc.), aggregated by MarkLines as of August 4, was 1,372,165 units, up 7.5% y/y. The number of sales days in July was 26, one day more than in the same month last year.  Although July U.S. auto sales incr...

News  Updated at: 2025/08/04

BorgWarner secures contract with major East Asian OEM to supply turbochargers On August 1, U.S.-based BorgWarner Inc. (BorgWarner) announced that it had secured a contract with a major East Asian OEM to supply turbochargers for hybrid vehicles (HVs). Production is scheduled to begin in 2027 at BorgWarner’s Pyongtaek facility in South Korea. BorgWarner’s wastegate turbocharger technology, which has been adopted for the customer’s HVs, featu...

News  Updated at: 2025/08/04

Kumho Tire to resume tire production at plant in Gwangju, South Korea Several South Korean media sources reported that Kumho Tire Co., Ltd. (Kumho Tire) announced that it will resume tire production at the Gwangju Plant in South Korea. The Gwangju Plant stopped its operation because of a fire in May 2025, but the company aims to produce 6,000 tires per day at the plant by the end of 2025. The company will also build a new plant in Hampyeong-gun, ...

News  Updated at: 2025/08/04

L&F and Korea Research Institute of Chemical Technology sign business agreement for next-generation cathode material development South Korea’s cathode material manufacturer, L&F Co., Ltd., signed a business partnership agreement with Korea Research Institute of Chemical Technology (KRICT), an affiliate of the National Research Council of Science and Technology, regarding the development of next-generation cathode materials. Based on the agreeme...

News  Updated at: 2025/08/04

7 to give U.S. Customs and Border Protection officials time to prepare. For nine trading partners that arrived at deals with the White House, tariff rates will not increase as much as Trump initially threatened. Trump negotiated trade frameworks over the past few weeks with the EU, UK, Japan, South Korea, Indonesia, Vietnam, and the Philippines. Those countries that have not agreed to new trade terms are being divided into three brackets: countri...

News  Updated at: 2025/08/02

Trump announces 15% tariff for Korea, USD 350 billion of investment On July 31, U.S. President Trump announced that “the U.S. has agreed to a Full and Complete Trade Deal with the Republic of Korea”, including a tariff of 15% on Korean goods entering the U.S., and no tariff for U.S. goods entering their country. Also, ”South Korea will give to the United States USD 350 Billion Dollars for Investments owned and controlled by the United State...

News  Updated at: 2025/08/01

Hyundai’s operating profit drops 15.8% in Q2 2025 Hyundai Motor Company announced its business results for results for the second quarter of 2025(April–June) on July 24. Revenue rose 7.3 percent year-on-year to KRW 48.29 trillion, marking its highest-ever quarterly revenue. This growth was driven by solid sales in North America and Korea market, strong global demand for hybrid electric vehicles (HEVs), and increased EV sales in Europe. Operat...

News  Updated at: 2025/07/31

r liquidity and provide additional financial flexibility," Thibodeau said. President Trump's recent trade deal with Japan that lowered tariffs on auto imports to 15% has raised concerns among GM, Ford and Stellantis which must still pay 25% tariffs on imports from Canada and Mexico, as well as from Korea and China. Ford had warned last quarter that it expects tariffs will cost it about USD 1.5 billion from its earnings before interest and taxes f...

News  Updated at: 2025/07/30

DH to build new plant in Pyeongtaek, South Korea Several South Korean media sources reported that a South Korean automotive body parts manufacturer, DH, will build a new plant in Pyeongtaek-si, Gyeonggi-do, investing KRW 80 billion (JPY 8.8 billion). The company aims to start construction in the first half of 2026 and operation in the latter half of 2027. DH has headquarters and a factory in Pyeongtaek. It produces automotive panel assemblies and...

News  Updated at: 2025/07/29

Kumho Tire to supply OE tires for Kia Tasman South Korea's Kumho Tire Co., Ltd. will start supplying the Crugen HT51 as original equipment (OE) tires for Kia Corporation’s Tasman pickup truck. This tire will be fitted on the Tasman export models for the Australian, Asian, Middle Eastern, and African markets in addition to the model for the South Korean market. The Crugen HT51 is an all-weather, on/off-road tire designed to ensure stable driving...

News  Updated at: 2025/07/29

South Korea’s Taeyoung Tech to build new door beam plant in Gyeongju Several South Korean media sources reported that a South Korean company, Taeyoung Tech Co., Ltd., will build a new plant in Gyeongju, Gyeongsangbuk-do, investing KRW 15.1 billion (JPY 1.66 billion). The construction work is scheduled to begin in August 2025 and continue until June 2026, with the new plant producing door beams and other products. Established in 2003, Taeyoung T...

News  Updated at: 2025/07/28

Korea reported to propose USD 100 billion investment in tariff deal with U.S A high-level meeting for July 25 was called off due to an unspecified urgent scheduling event for U.S. Treasury Secretary Scott Bessent. The meeting was set to bring together Bessent, U.S. Trade Representative (USTR) Jamieson Greer and South Korean counterparts, Finance Minister Koo Yun-cheol and Trade Minister Yeo Han-koo. South Korea is expected to propose investing at...

News  Updated at: 2025/07/26

hat while “well-crafted tariffs” can serve as a tool to “level the playing field, bring back good jobs, and drive investment in American manufacturing,” the current agreement “falls far short.” The union further warned that “if this becomes the blueprint for trade with Europe or South Korea, it will be a major missed opportunity.” Based on the UAW’s official X account post dated July 23...

News  Updated at: 2025/07/25

Grinergy, Korea and Echion, UK partner on XNO anode material On July 21, Echion Technologies announced that it has signed a supply agreement with Korean battery start-up Grinergy for its XNO anode material on July 10, 2025. Through this agreement, Grinergy will apply Echion’s niobium-based anode material XNO to the next-generation fast-charging battery system it is developing. XNO is based on niobium that simultaneously implements high output, ...

News  Updated at: 2025/07/24

South Korea’s Nextchip forms technical partnership with Stellantis’ subsidiary on ADAS solution Several South Korean media sources reported that a South Korean company, Nextchip Co., Ltd., signed a technical partnership agreement with aiMotive, a wholly-owned subsidiary of Stellantis N.V., on advanced driving assistance system (ADAS) solutions. Stellantis acquired aiMotive in 2022. The subsidiary develops autonomous driving software for the S...

News  Updated at: 2025/07/23

Hyundai’s EV exports to U.S. down 88% in January-May period as Metaplant ramps up Hyundai Motor Group's export of EVs from Korea to the U.S. fell 88.0% YoY in the first five months of 2025, as it shifted production of U.S.-bound vehicles to its new Metaplant in Georgia amid sluggish demand, according to multiple Korean media reports on July 22. According to the Korea Automobile & Mobility Association (KAMA), Hyundai Motor and Kia combined expor...

News  Updated at: 2025/07/23