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The South Korean stock market closed lower, but recorded the largest weekly gain in two months this week.
On Friday, South Korea's composite stock price index closed down 0.24%, at 2515.78 points; the Index rose 3% this week, marking the third consecutive week of gains, the largest weekly increase since mid-November 2024. South Korea's acting president Choi Sang-mok stated that the government will do everything possible to stabilize the economy and monitor the financial markets around the clock to take action when necessary. Hyundai Autos surged 6.1% as the company reached a cooperation agreement with NVIDIA on AI technology. Kia Autos rose 2.23%. However, most other index-weighted stocks fell, including chip manufacturers, Battery manufacturers, E-Commerce companies, and
Hyundai Motor Group announced a strategic partnership with NVIDIA.
South Korea's Hyundai Motor Group announced on Friday that it has entered into a strategic partnership with USA's NVIDIA to develop advanced AI technologies related to future mobility. Hyundai Motor Group stated that the cooperation agreement signed on Thursday local time in Las Vegas, USA, will strengthen core mobility solutions such as software-defined vehicles and Siasun Robot&Automation technology, and expand the application of AI technologies across all business areas. Specifically, Hyundai plans to utilize Digital Twin technology to simulate the construction and operation of new factories in a virtual environment. Through this approach, Hyundai will leverage NVIDIA's Digital Twin platform.
Express News | Hyundai Enters Strategic Partnership With NVIDIA To Accelerate Development Of Advanced AI Technologies
Hyundai Motor Group will invest 16.7 billion dollars in South Korea this year.
According to a report from Consolidated Communications in South Korea on Thursday, Hyundai Motor Group plans to invest 24.3 trillion won (approximately 16.65 billion dollars) in South Korea this year. The report states that this represents a 19% increase from a year ago. Following the announcement, the stocks of Hyundai and Kia rose by 2.3% and 3.8% respectively in early trading.
Modern Autos have started selling on the Amazon website in the USA.
South Korea's Hyundai Motor Company announced on Wednesday that it has begun selling cars on the Amazon website. A year ago, Hyundai signed a strategic partnership with this American retail giant. Hyundai stated that starting from January 7 local time, consumers in the USA will be able to browse, order, and purchase any new Hyundai vehicle through participating Car Dealers/auto Retailers on Amazon Car Service and arrange to pick up the vehicle from the dealer. Hyundai indicated that it will be the first car brand to sell on the Amazon Autos website.
Last year, modern Kia's sales of Eco-friendly Concept vehicles in the U.S. grew by 24.6%, reaching a historic high.
South Korea's major Auto Manufacturers, Hyundai Motor and Kia Motors, announced on Tuesday that their combined sales of eco-friendly vehicles in the USA reached an all-time high last year. Hyundai and Kia's total sales of electric and hybrid vehicles in the USA last year were 346,441 units, a 24.6% increase compared to the previous year. This is the highest record since 2011 when Hyundai and Kia started selling eco-friendly vehicles in the USA. Last year, Hyundai and Kia sold 2,041.15 million and 142,326 eco-friendly vehicles in the USA, with year-on-year increases of 27.9% and 20% respectively. By fuel type, the two companies sold a total of 222,486 units.
Hyundai to Be First Automaker to Sell New Cars on Amazon -- 2nd Update
