Korea Central News Net

Tag: business

  • KG Mobility launches vehicle subscription service ‘KGM MOBILING’

    KG Mobility (KGM) has launched its new vehicle subscription service ‘KGM MOBILING,’ marking its entry into the mobility platform business.

    ‘KGM MOBILING’ allows users to rent KGM vehicles on a monthly basis, without incurring additional costs such as insurance, taxes, maintenance, deposits, or down payments. The service aims to offer a hassle-free experience by eliminating the financial burdens typically associated with vehicle ownership.

    The name ‘KGM MOBILING’ combines ‘Mobility’ with the present progressive suffix ‘-ing,’ symbolizing a life in constant motion and a spirit of continuous adventure.

    Initially, the service will include models such as Torres, Torres Hybrid, and Actyon, along with the upcoming Actyon Hybrid set for release in July. The lineup will later expand to include eco-friendly and newly launched vehicles. Users can switch their vehicles monthly to suit their lifestyle needs.

    Monthly subscription fees are expected to range from around 700,000 to 800,000 KRW, allowing up to 2,500 kilometers of driving per month, making it a practical option for daily life.

    Vehicle maintenance, including replacement of consumables and regular checkups, is provided free of charge. The service features real-time monitoring of vehicle condition using over 20 types of safety-related data and offers systematic management through a nationwide network of over 1,350 service centers.

    Eligibility is open to Korean nationals aged 26 or older who have held a driver’s license for more than one year and possess a credit card under their own name.

    ‘KGM MOBILING’ is being launched in strategic partnership with Car 123 Jesper, Korea’s top vehicle management outsourcing company, to ensure professional service operation and enhanced customer satisfaction.

    KGM emphasized that ‘KGM MOBILING’ is not just a car rental service but a dynamic mobility platform designed to empower customers to enjoy their daily lives with freedom and confidence. The company plans to expand the service with additional models and lifestyle packages, such as camping options, in the future.

  • Hyundai Elevator releases ‘2024-25 ESG Report’

    Cover of Hyundai Elevator’s ‘2024-25 ESG Report’ | Image by Hyundai Elevator

    Hyundai Elevator has released its ‘2024-25 ESG (Environmental, Social, and Governance) Report,’ detailing the company’s sustainability performance and strategy for the year 2024.

    Environmental improvements are particularly notable in this report. It highlights a 12.4% reduction in greenhouse gas emissions compared to the previous year, the expansion of environmental data disclosure to subsidiaries, and a full product life cycle environmental impact assessment.

    In fact, total greenhouse gas emissions were reduced by 60% compared to the 2022 baseline. This achievement is credited to the expansion of solar power systems not only on factory rooftops but also in parking areas, along with company-wide carbon reduction initiatives. Hyundai Elevator has set a goal of achieving carbon neutrality by 2050.

    The company also unveiled the results of its Life Cycle Assessment (LCA) for the first time. The LCA quantifies the environmental impact of a product from design and production to use and disposal, and it is expected to serve as a new benchmark for future eco-friendly product development.

    For the first time, Hyundai Elevator also disclosed environmental data from overseas subsidiaries and affiliated companies. This move signals the company’s commitment to transparently providing comprehensive information to all stakeholders and to continuously expanding the scope of its ESG activities.

    Hyundai Elevator is also expanding its corporate social responsibility efforts. After launching a choir for people with disabilities called the “Ollak Choir,” the company also hired baristas with disabilities to operate an in-house welfare cafe, contributing to job creation. In addition, the company is involved in activities such as removing invasive plant species from the local Binaeseom Island to preserve biodiversity, and continues to engage in donations, sponsorships, and volunteer work to foster a culture of mutual growth.

    In the area of corporate governance, several improvements are also underway. The company avoided holding its annual general shareholders’ meeting on the peak date and now holds internal audit committee meetings at least once per quarter, demonstrating efforts to enhance internal control. It also established a foundation for introducing a pre-dividend, post-investment system by allowing the board to set dividend record dates, thus improving dividend predictability.

    Hyundai Elevator stated that it views sustainability as a core management principle and is committed to achieving tangible results across all ESG domains. The company added that it will continue to strengthen its ESG management system to meet global standards.

    Hyundai Elevator launched full-scale ESG management in 2022 and declared a mid-to-long-term plan to achieve carbon neutrality by 2050. It has also actively pursued initiatives such as strengthening board independence, building an inclusive organizational culture, and conducting community-linked social contribution activities.

  • Hyundai Motor Group signs multilateral MOU to build hydrogen city in North Chungcheong Province

    From left: Jin Soo-nam, Acting President of Korea Gas Technology Corporation; Kim Dong-wook, Executive Vice President of Hyundai Motor Group’s Strategic Planning Division; Kim Young-hwan, Governor of North Chungcheong Province; Lee Beom-seok, Mayor of Cheongju; Park Kyung-guk, President of Korea Gas Safety Corporation; and Lee Joong-ho, Head of Korea Electric Power Corporation’s North Chungcheong Branch, pose for a commemorative photo during the MOU ceremony | Photo courtesy of Hyundai Motor Company

    Hyundai Motor Group signed a multilateral memorandum of understanding (MOU) on June 24 at OSCO in Cheongju to promote the establishment of a hydrogen city in North Chungcheong Province. The signing ceremony was attended by Kim Dong-wook, Executive Vice President of Hyundai Motor Group’s Strategic Planning Division; Kim Young-hwan, Governor of North Chungcheong Province; Lee Beom-seok, Mayor of Cheongju; Park Kyung-guk, President of Korea Gas Safety Corporation; Jin Soo-nam, Acting President of Korea Gas Technology Corporation; and Lee Joong-ho, Head of Korea Electric Power Corporation’s North Chungcheong Branch.

    The hydrogen city initiative is a large-scale project aimed at transforming Cheongju into an eco-friendly smart city powered by hydrogen energy. It aligns with the South Korean government’s Carbon Neutral 2050 goal and policies to boost the hydrogen economy. The project focuses on establishing a hydrogen ecosystem throughout the central inland region of the country.

    Under the agreement, Hyundai Motor Group plans to quadruple the capacity of its clean hydrogen production facility in Cheongju, which uses biogas. Once expanded, the facility will be capable of producing 2,000 kilograms of clean hydrogen daily, ensuring stable local supply.

    Hyundai will also support the expansion of hydrogen refueling infrastructure and the introduction of hydrogen mobility solutions in the region.

    The North Chungcheong provincial government and Cheongju city will provide active support in terms of budgeting and regulatory approvals necessary for the hydrogen city initiative.

    Korea Gas Safety Corporation will oversee the establishment of a Hydrogen Gas Safety Hub Center and facilitate training programs for specialized personnel, while Korea Gas Technology Corporation will be responsible for project progress and performance management. Korea Electric Power Corporation will build smart power infrastructure to support the hydrogen city.

    Hyundai Motor Group expects this initiative to energize the regional hydrogen economy and accelerate the transition to a hydrogen-powered society.

    At the “North Chungcheong Hydrogen Economy Forum” held following the MOU ceremony, Hyundai Motor Group presented the status and future plans of its global hydrogen initiatives centered on HTWO, the company’s hydrogen brand and business platform.

    The group emphasized that by spearheading the first hydrogen city project in North Chungcheong Province, it aims to revitalize the local hydrogen economy and contribute to national carbon neutrality. Hyundai also reaffirmed its commitment to expanding the full hydrogen value chain—from production to utilization—through strategic partnerships and global investments.

    The group is also pursuing a range of hydrogen ecosystem projects, including a hydrogen production demonstration project at the Food Waste Bio Center in Chungju, a circular hydrogen project with Paju City and the Korea Institute of Advanced Technology to build a mini hydrogen city, and a resource-circulating hydrogen solution project in West Java, Indonesia, where the group operates major production facilities.