Korea s leading conglomerates have entered belt-tightening mode by reducing operation costs and selling unprofitable businesses, as the economy does not show any clear and immediate sign of a rebound, according to industry officials, Wednesday.
Ford Motor’s repeated delays in electric vehicle (EV) production have affected the U.S. carmaker’s Korean partners, which have been seeking to expand in the North American battery market, according to industry officials, Monday.
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SK On, an electric vehicle battery maker affiliated with SK Group, said Wednesday that it has partnered with Italian sports car maker Ferrari to advance innovation in battery cell technology. The two companies signed a memorandum of understanding at SK’s headquarters building in Seoul on Tuesday, with SK On CEO Lee Seok-hee and Ferrari CEO Benedetto Vigna in attendance. The collaboration aims to explore new ave.