Science & Technology
Hyundai plans U.S. EV plant, in talks with Georgia
Hyundai Motor Co (005380.KS) plans to build a new electric-vehicle manufacturing plant in the United States and has held discussions with officials in Georgia, near existing plants for the Hyundai and Kia (000270.KS) brands, people with knowledge of its plans told Reuters.
Hyundai Motor confirmed an imminent plan for a new EV plant but declined to comment on any details, including site negotiations.
“We are excited to announce a new EV plant plan in the United States soon, but we do not have details to share at this stage,” Hyundai said in a statement to Reuters when asked about its investment plans.
Hyundai has been in advanced discussions with state officials to build a dedicated EV facility in Georgia, three people with direct knowledge of the talks told Reuters. Details of the investment, including its projected cost and the number of jobs it would be expected to create, were not immediately known.
The new Georgia EV facility, if it is finalized, would serve both Hyundai and Kia as the brands move to roll out a pair of fully electric SUVs – the Ioniq 7 and EV9 – aimed at the U.S. market, the three people with knowledge of the plans told Reuters.
Georgia’s Economic Department declined to comment. “We do not comment on speculation about economic development projects,” said a state economic development department spokesperson.
The announcement of an investment deal by Hyundai would come at a time when the administration of President Joe Biden has been pushing for more investment in EVs and related suppliers to create jobs and drive a clean-energy agenda. It would also mark a major economic development win for Georgia, which has pushed to establish itself as a regional hub for the emerging EV industry.
The announcement could come days before the May 24 Georgia primary election in which Republican Governor Brian Kemp is being challenged by former U.S. Senator David Perdue.
The Atlanta Journal-Constitution reported the company could hire 8,500 as part of its plans to build a new factory. The newspaper said the plant could be located on a more than 2,200-acre site that the state had previously proposed to Rivian, Volvo and Jaguar Land Rover.
Hyundai had been working to announce its U.S. investment in EV manufacturing sometime later this month to coincide with Biden’s planned visit to Seoul, another person with knowledge of the plans said.
Hyundai announced a $300-million investment last month to manufacture the all-electric Genesis GV 70 and a hybrid version of the Santa Fe at its Alabama plant. The Genesis model would be Hyundai’s first EV made in the United States.
Hyundai’s comment to Reuters was the company’s first confirmation that it was nearing an announcement on a site for a new EV plant.
Hyundai affiliate Kia also said last month that it was looking to shift production to the United States but was not considering a dedicated EV factory on its own.
Kia has said it will have 14 EVs by 2027. Hyundai has said it will roll out 17 by 2030, including six for its luxury Genesis brand.
Hyundai’s battery supplier, SK Innovation’s (096770.KS) battery unit SK On, has just built two adjacent plants in Georgia. The first, which mostly supplies Volkswagen AG (VOWG_p.DE), kicked off production in the first quarter. The second, which will supply batteries for Ford Motor Co (F.N), is set to begin production early next year.
SK On will supply the battery for the Ioniq 7, a person with knowledge of that contract told Reuters. SK On said it cannot comment on supply deals involving specific customers.
Biden is set to travel to South Korea on May 20 for meetings with South Korea’s incoming president Yoon Suk-yeol, an advocate of steps to shore-up South Korea’s ties with the United States.
The Biden administration has said it will allocate more than $3 billion in infrastructure funding to finance EV manufacturing. Biden wants half of vehicles sold in the United States to be electric by 2030.
Other Asian companies that have announced plans to build U.S. battery plants include Korea’s LG Energy Solution (373220.KS) and Samsung SDI (006400.KS).
Reuters reported earlier this month that CATL, the world’s largest battery maker, was in talks to open battery plants that would serve BMW AG (BMWG.DE) and Ford with potential sites in South Carolina and Kentucky.
A South Korea media report said Yoon, who takes office on Tuesday, was also planning a follow-up visit to Washington after Biden visits Seoul, where he would be accompanied by leaders of South Korea’s top conglomerates including Hyundai Motor and SK to discuss investment in the United States.
A spokeswoman for Yoon on Monday denied the plan as reported.
Science & Technology
Astronomers discover white dwarf surrounded by two rings of planetary debris
Astronomers have discovered a white dwarf star surrounded by two distinct rings of planetary debris, offering new insights into what may happen to planetary systems, including our own, when their host stars reach the end of their lives.
The star, identified as J1328−1450, is located about 1,600 light-years from Earth in the constellation Virgo. Observations made using the European Southern Observatory’s Very Large Telescope in Chile revealed an unusual arrangement of dust and gas around the star.
According to researchers, the debris appears to form two separate rings, a structure not previously observed around any of the 21 white dwarfs known to have surrounding planetary debris.
The scientists believe that two relatively large rocky bodies may have survived the star’s transformation into a white dwarf and could be responsible for shaping the surrounding material. One of these objects may be roughly the size of Pluto, while the other is smaller.
Researchers say the discovery provides further evidence that some rocky planetary bodies can survive the dramatic changes that occur when a star exhausts its fuel and expands into a red giant.
The findings, published in the journal *Nature Astronomy*, suggest that the original star may once have hosted a planetary system. During its expansion, it likely engulfed some of its innermost planets, while more distant objects survived.
Over time, gravitational forces may have pulled some of these surviving bodies closer to the white dwarf, tearing them apart and scattering their material into surrounding rings of dust and gas.
Astronomers also found differences in the chemical composition of the two rings, particularly in their magnesium content, suggesting that they may have originated from different rocky bodies or from different layers of a disrupted object.
The discovery could offer a glimpse into the distant future of our own solar system. Scientists estimate that in about five billion years, the Sun will expand into a red giant before shedding its outer layers and becoming a white dwarf.
During this process, Mercury and Venus are expected to be engulfed, while the fate of Earth remains uncertain. More distant planets, including Jupiter and Saturn, are expected to have a greater chance of surviving.
Researchers say that, after the Sun becomes a white dwarf, surviving planets, moons and asteroids could also be pulled towards it and broken apart by its intense gravitational force.
They suggest that the newly observed system may represent one possible stage in the far-distant future of our solar system.
Science & Technology
Binance says it has covered $6 billion of $6.3 billion stolen in hack
The US Federal Bureau of Investigation (FBI) said on Saturday the North Korean state-sponsored unit known as TraderTraitor was responsible for the attack.
Binance, the world’s biggest cryptocurrency exchange, said it has covered $6 billion of the $6.3 billion stolen from its platform by using company money to buy replacement tokens, after a hack that US officials said was carried out by a North Korean state-sponsored unit known as TraderTraitor.
“We had already covered $6B of the impacted amount of the hacked loss,” Binance said on X on Saturday, after saying earlier that it had covered 90% of the stolen funds, Reuters reported.
The remaining amount, now less than 10%, consists of assets that are less liquid and may take longer to source in the required amounts, according to Binance.
The US Federal Bureau of Investigation (FBI) said on Saturday the North Korean state-sponsored unit known as TraderTraitor was responsible for the attack.
North Korea has for years denied using state-linked cyber units for espionage, financial theft and revenue. Its mission in Geneva and embassy in China did not respond to requests for comment.
Members of the unit were observed by law enforcement converting stolen assets into the cryptocurrency ethereum, the FBI said in a statement, adding that it expects “further laundering” of the assets through the use of related technology.
Analysts had previously blamed North Korea and said it could be the largest financial heist of all time.
Binance has been working with industry partners to freeze some of the affected assets, with about $3 billion located as of Friday.
The company has repeatedly said it would bear the financial impact of the funds stolen in the hack.
The money spent re-buying tokens came from using part of its $1 billion Secure Asset Fund for Users (SAFU), a bitcoin reserve it holds to protect customers in the event of security breaches, as well as some of its Futures Insurance Fund, and the company’s own corporate treasury, it said on X.
Co-CEO Yi He said on Saturday that 50% of its SAFU funds would be used, while the company said it was committing to replenishing the fund to return it to about $1 billion.
Crypto prices fell on Friday, while Binance sought to reassure customers that their funds were safe after the hack.
Co-CEO Richard Teng had said that the breach was a “complex attack” involving a compromised laptop and malicious software designed to delete evidence of its activity, making it harder to trace and investigate.
After the hack, the exchange stopped allowing customers to withdraw their funds, but it said on Saturday it was still on track to reopen withdrawals on Sunday.
Withdrawals were not open as of 02:50 GMT on Sunday.
Binance said it has set aside around $6.34 billion of company funds internally to cover the losses.
Binance also said it had taken a new snapshot of assets held on its platform as of 0000 GMT on October 31, as part of its proof-of-reserves process.
Users holding the 10 listed tokens — BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC — would be able to verify that their assets were backed at a minimum ratio of 1:1 once the full proof was available, it said.
Science & Technology
Governments take websites offline as critical cyber flaws trigger global alert
Security patches were released prompting authorities to urge organisations to update affected systems immediately or take vulnerable services offline until they could be secured.
Governments and organisations across Europe and beyond have taken websites and online services offline after the discovery of two critical vulnerabilities in widely used web software triggered an international cyber-security alert.
The vulnerabilities affect PHP, a programming language used extensively to operate websites and online applications. Attackers could potentially exploit the flaws to execute malicious code remotely on vulnerable servers, threatening sensitive information and digital infrastructure.
Security patches were released on Wednesday, October 21, prompting authorities to urge organisations to update affected systems immediately or take vulnerable services offline until they could be secured.
The Netherlands, Finland, France, Belgium and Germany have also reported precautionary shutdowns affecting government websites and other public-facing services.
In the Netherlands, affected platforms included Overheid.nl, MijnOverheid.nl and DigiD. The country’s National Cyber Security Centre also temporarily took its own website offline.
Finland’s state IT services provider, Valtori, suspended public government web services as a precaution, while France’s Interior Ministry temporarily took the websites of local administrative authorities offline.
In Belgium, the Foreign Ministry took its websites offline amid concerns about potential exploitation, although the country’s cybersecurity centre said it had not observed attacks on Belgian websites at the time.
Germany’s federal IT service provider also temporarily disabled several websites, with officials saying the measure was precautionary and no security incidents were known to have occurred.
The disruption extended beyond government agencies. Websites and online services belonging to hospitals, educational platforms and other organisations were also affected, highlighting the potential reach of vulnerabilities in widely deployed software.
In Australia, the Australian Cyber Security Centre’s website, cyber.gov.au, was among the government services affected by the security alert. Australian authorities said they were not aware of active exploitation of the vulnerabilities.
In the United States, the National Security Agency and other cybersecurity authorities urged organisations to prepare for immediate updates and take vulnerable systems offline if they could not be secured promptly. The Wikimedia Foundation, which operates Wikipedia, also took some systems offline as a precaution while addressing the flaws.
Cybersecurity company Cloudflare reported seeing early attacks associated with the vulnerabilities, although reports of exploitation do not establish that every affected organisation suffered a breach.
The incident highlights the risks created by the internet’s reliance on shared software. PHP is used across a substantial proportion of websites, meaning a single vulnerability can affect organisations in multiple countries and sectors simultaneously.
Security specialists have urged website operators to identify affected systems, install the relevant patches and examine server logs for signs of unauthorised access. Applying an update may prevent further exploitation, but organisations must also investigate whether attackers gained access before their systems were secured.
Authorities have not established that all affected websites were breached. The precautionary shutdowns are intended to reduce exposure while administrators apply fixes and verify that their systems are safe to restore.
The alert has underscored the challenge facing governments and businesses in responding to critical software vulnerabilities that can rapidly become an international security concern.
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