South Korean autonomous driving startup 42dot valued at 434 million US dollars

South Korean autonomous driving start-up 42dot attracted investors’ attention with its advanced AI technology. Strategic and financial investors value the start-up at $434 million. In a Series A funding round on 29 October 2021, 42dot raised around US$93.7 million in capital, according to investment banks. Strategic investors included Shinhan Capital, Lotte Rental Co and LIG Nex1 Co, as well as venture capital firms IMM Investment, STIC Ventures and Timewise Investment. 42dot took four months of negotiations to secure the funds. In total, investors have now provided the start-up with US$127.7 million. According to an investment banker, it is unusual for a start-up to secure more than 85 million US dollars in fresh capital within one financing round. The development and production of AI technology is partly dependent on KC certification for relevant electronic parts and similar components.     Generally speaking, investors are currently spending large sums on AI start-ups that have been able to present working prototypes, the investment banker said. Last year, for example, FuriosaAI, a semiconductor startup, and Sendbird Inc, an AI chat developer, raised similarly large sums from investors. The AI technology of 42dot, which was founded in 2019, is based on cameras with a camera sensor called “RADAR”. In addition to image analysis, this uses radio waves to recognise the surroundings. The system is integrated in the so-called “AKit”, which only has the dimensions of half an A4 page. According to analysts, the market launch could be groundbreaking, since the module can be mounted in any car boot to save space due to its compact size. In addition to the controller, 42dot is developing the mobility platform “TAP!” and a map service for autonomous driving “SDx Map”. In April 2021, 42dot’s CEO Song Chang-hyun was appointed head of Hyundai’s new Transportation-as-a-Service (TaaS) division. The division has since taken over the mobility business of Hyundai Motor Co. and Kia Corp. 42dots core products such as AKit are expected to hit the market between 2023 to 2024. South Korea is considered one of the most important and innovative industrial nations in the world. To gain market access to this highly technological country, products imported into South Korea must be tested and certified. The KC mark or certificate is roughly equivalent to the European CE mark and applies to 730 different products. MPR International GmbH has solid experience in Korea certification and competent local partners. We will be pleased to advise you without obligation about the scope and procedure of a Korea certification. If you need assistance or have any questions regarding Korean certifications like KC, KC EMC, KCs or KCs for explosion safety products, feel free to contact us any time. Tel.: +49-69-2713769259 Email: info@korea-certification.com Urgent questions? Please do not hesitate to contact us via chat. You will find the chat window at the bottom right of each page (if this is not visible, please check your browser settings). For more information you can download our free brochure “Korea Certification Made Easy – The Booklet“.

SK E&S promote logistics business based on hydrogen-powered drones

The SK E&S subsidiary of conglomerate SK Group is entering the logistics business with drones powered by hydrogen. To do so, the company will first promote small or young companies in this sector in research and development, Business Korea reports. SK E&S, a utility and energy company, plans to initially use the hydrogen-powered drones to inspect difficult-to-reach locations. These include remote gas pipelines and offshore wind farms far from the coast. As an electronic product, drones and their components are one of the product categories for which KC certification is required in order to import and use them in Korea.     Hydrogen-powered drones have a relatively long flight time due to the high energy density of hydrogen. Since they can also transport heavy loads if equipped appropriately, the drones could be used in the logistics and transport sector, for example as air taxis. SK E&S has announced that it will invest the equivalent of 15 billion US dollars in corresponding projects in the hydrogen business. In joint development work with small and medium-sized drone manufacturers, the construction of flying devices and the initial commercial operation are to be undertaken. Liquid hydrogen differs from the gas form in that it has a higher storage density and low pressure for storage. Hydrogen-powered drones have a flight time of up to 12 hours. This is a major advantage over battery-powered drones or those powered by gas, which can only boast a flight time of 30 minutes respectively between two and three hours. In the future, hydrogen drones could be used for a wide range of applications such as remote sensing, surveillance of dangerous locations, search and rescue missions, and deliveries to islands and mountainous regions. South Korea is considered one of the most important and innovative industrial nations in the world. To gain market access to this highly technological country, products imported into South Korea must be tested and certified. The KC mark or certificate is roughly equivalent to the European CE mark and applies to 730 different products. MPR International GmbH has solid experience in Korea certification and competent local partners. We will be pleased to advise you without obligation about the scope and procedure of a Korea certification. If you need assistance or have any questions regarding Korean certifications like KC, KC EMC, KCs or KCs for explosion safety products, feel free to contact us any time. Tel.: +49-69-2713769259 Email: info@korea-certification.com Urgent questions? Please do not hesitate to contact us via chat. You will find the chat window at the bottom right of each page (if this is not visible, please check your browser settings). For more information you can download our free brochure “Korea Certification Made Easy – The Booklet“.

GM South Korea to play a more important role within the group

The president of GM, Mark Reuss, recently said that his company wants to continue producing combustion engines or improve them. Nevertheless, he said, the company will focus on the development of electric vehicles. This announcement means that GM’s Korean R&D centre for internal combustion engines will take over responsibility for this area over a period of time, reports Business Korea. The production of engines and other automotive products often requires components that must be KC certified in order to be approved in Korea.     GM Korea unveiled the Chevrolet Trailblazer in South Korea last January. It has sold 16,295 vehicles and exported 103,216 vehicles through September and August 2021, respectively. In June, the number of exports was 15,165 units. This made the Trailblazer the most exported model from South Korea. GM Korea is stepping up its investment at the Changwon site, where a new crossover SUV will be produced from 2023. In addition, a new painting plant was commissioned in March and numerous new production lines are currently being built. The GM Korea R&D centre will continue to play an important role within the GM Group. Among other things, it was a leader in the design of the Chevy Bolt EV and is expanding its activities in the development of EVs. The R&D centre employs more than 3,000 engineers and has a design and engineering department, a production technology institute and test tracks. South Korea is considered one of the most important and innovative industrial nations in the world. To gain market access to this highly technological country, products imported into South Korea must be tested and certified. The KC mark or certificate is roughly equivalent to the European CE mark and applies to 730 different products. MPR International GmbH has solid experience in Korea certification and competent local partners. We will be pleased to advise you without obligation about the scope and procedure of a Korea certification. If you need assistance or have any questions regarding Korean certifications like KC, KC EMC, KCs or KCs for explosion safety products, feel free to contact us any time. Tel.: +49-69-2713769259 Email: info@korea-certification.com Urgent questions? Please do not hesitate to contact us via chat. You will find the chat window at the bottom right of each page (if this is not visible, please check your browser settings). For more information you can download our free brochure “Korea Certification Made Easy – The Booklet“.

Hyundai Mobis develops wheels that can turn 90 degrees

Hyundai Mobis Co, the auto parts manufacturer of Hyundai Motor Group, is working on a technology that allows vehicle wheels to rotate 90 degrees. This allows for tighter turning radius as well as easier parking. The technology should also enable the development of vehicles with a so-called “crab walk” – driving sideways like the movement of a crab. Eventually, even 360-degree rotation could be possible. On 24 October, Hyundai unveiled the technology, called the “e-corner” module, reports the Korea Economic Daily. The module already integrates all the necessary components such as the motor, steering, brakes and suspension. According to Hyundai Mobis, the technology reduces the effort of wiring various mechanical parts and wheels; instead, one module can be installed depending on the wheelbase requirements. This also eliminated constraints in the design of a new vehicle, such as the vehicle dimensions and opening direction of the doors. Car manufacturers are able to use the e-corner module to build purpose-built vehicles according to customer requirements. This includes commercial vehicles and emergency vehicles, according to Hyundai Mobis. Components needed for the production of such automotive systems usually require KC certification so that they can be classified as meeting Korea’s safety standards and introduced into the Korean market.     Currently, vehicles with conventional wheels and suspension have a steering rod on the axle that allows a maximum rotation of 30 degrees. The e-corner module, on the other hand, allows the vehicle to move transversely for parallel driving. A 360-degree rotation while stationary is also said to be possible. This makes the vehicles easier to manoeuvre in narrow environments such as inner cities. Before series production can begin, Hyundai Mobis still has to subject the e-corner module to load and reliability tests. In addition to the wheel module, Hyundai is also working on a platform for attaching the drives. The so-called skateboard module is the basis for future EVs. It contains the most important components such as steering and brakes as well as controls for the batteries and e-motors. Hyundai expects to be able to offer its customers skateboard-based vehicles with e-corner modules in 2025. Then there should also be vehicles that can drive autonomously. South Korea is considered one of the most important and innovative industrial nations in the world. To gain market access to this highly technological country, products imported into South Korea must be tested and certified. The KC mark or certificate is roughly equivalent to the European CE mark and applies to 730 different products. MPR International GmbH has solid experience in Korea certification and competent local partners. We will be pleased to advise you without obligation about the scope and procedure of a Korea certification. If you need assistance or have any questions regarding Korean certifications like KC, KC EMC, KCs or KCs for explosion safety products, feel free to contact us any time. Tel.: +49-69-2713769259 Email: info@korea-certification.com Urgent questions? Please do not hesitate to contact us via chat. You will find the chat window at the bottom right of each page (if this is not visible, please check your browser settings). For more information you can download our free brochure “Korea Certification Made Easy – The Booklet“.