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1 week ago | 
pulse.mk.co.kr | Han Jae-beom |Han Yubin
The trade imbalance between South Korea and the United States is expected to gradually ease as the proportion of local procurement by Korean companies operating in the U.S. continues to rise, a report showed on Thursday. According to a report released by the Korea International Trade Association (KITA), U.S. imports from Korea increased by $36.6 billion between 2021 and 2024.
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2 weeks ago | 
pulse.mk.co.kr | Han Jae-beom |Woo Jae-yoon |Han Yubin
The United States is expected to order up to 448 industrial and military vessels from South Korea by 2037, creating opportunities for local shipbuilders, according to a report released on Monday by the Federation of Korean Industries (FKI). The forecast is based on the Shipbuilding and Harbor Infrastructure for Prosperity and Security for America Act of 2025 (SHIPS for America Act), introduced in April 2025, alongside the U.S. Navy’s shipbuilding and retirement plans for 2025.
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2 weeks ago | 
pulse.mk.co.kr | Han Jae-beom |Han Yubin
SK Innovation E&S Co., a South Korean provider of advanced renewable and clean energy solutions, is eyeing global expansion with the commercial operations of its offshore wind farm in Tân Phú Đông, Vietnam. Located near the Mekong Delta, the 150-megawatt (MW) near-shore facility consists of 36 massive wind turbines, each with a capacity of 4.2 MW. Maeil Business Newspaper recently visited the Tân Phú Đông offshore wind power complex.
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2 months ago | 
pulse.mk.co.kr | Chu Dong-hun |Han Jae-beom |Han Yubin
South Korea’s oil refining, petrochemical, and battery companies are expected to face a huge setback in their businesses due to the political aftermath of the presidential impeachment, which has halted industry support policies. According to industry sources, the government’s planned announcements on energy and industrial restructuring have been pushed back following the impeachment and a snap presidential election set for June 3.
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2 months ago | 
pulse.mk.co.kr | Han Jae-beom |Han Yubin
Ulsan Gas Power Solution (UGPS), a subsidiary of SK Gas Co., is expanding its presence with the commercial operations of world’s first liquefied natural gas (LNG) and liquefied petroleum gas (LPG) combined cycle power plant in Ulsan, a city in the southeast of South Korea. Since going into full-scale commercial operations in December 2024, the plant has been capable of generating 1.2 gigawatts (GW) of electricity annually, which is enough to supply power to about 2.8 million households.
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2 months ago | 
pulse.mk.co.kr | Han Jae-beom |Han Yubin
Six out of 10 companies in South Korea have confirmed hiring plans for this year, the lowest level since 2021, a survey showed on Thursday. According to a survey conducted by the Korea Enterprises Federation (KEF) on 500 companies with 100 or more employees, only 60.8 percent of the companies said they plan to hire new employees this year. The survey showed that 22.4 percent remained uncertain about hiring, and 16.8 percent had no recruitment plans for this year.
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Feb 26, 2025 | 
pulse.mk.co.kr | Han Jae-beom |Han Yubin
Self-employed businesses in South Korea are facing financial hardships amid the continued economic downturn. According to a survey conducted by the Federation of Korean Industries on Tuesday on 500 self-employed workers, 72.6 percent said that their sales have plunged in 2024 from a year ago. The average decline was 12.8 percent. Seven out of 10 self-employed businesses also said that their net profits declined by an average of 13.3 percent in 2024 from a year ago.
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Feb 21, 2025 | 
pulse.mk.co.kr | Han Jae-beom |Chung Seung-hwan |Han Yubin
The chairman of South Korea’s largest business lobby group will serve a second term. Federation of Korean Industries (FKI), whose board is made up of the chiefs of the country’s conglomerates, confirmed Ryu Jin as its 40th chairman during its annual general meeting on Thursday. His second term will end in February 2027, and Ryu also serves as the chairman of Poongsan Group. In his inaugural speech, Ryu painted a dire picture of the country’s economy.
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Feb 20, 2025 | 
pulse.mk.co.kr | Han Jae-beom |Han Yubin
LG Energy Solution, Ltd. (LGES)’s chief executive hinted at potential adjustments to the battery maker’s investment plans in the United States. “We are preparing for various scenarios,” LGES CEO Kim Dong-myung said during a board meeting of the Korea Battery Industry Association on Wednesday. Kim serves as the chairman of the association that represents South Korean battery makers.
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Feb 17, 2025 | 
pulse.mk.co.kr | Han Jae-beom |Han Yubin
With liquefied petroleum gas (LPG) increasingly being used as fuel for vehicles, sales of LPG pickup trucks have soared to make the gas-powered vehicle the most popular among consumers looking for a truck of 1 ton, the most common truck capacity in South Korea. The Korea LPG Association said that the sales of Porter 2 and Bongo 3, both the latest LPG-powered 1-ton trucks from Hyundai Motor Co and Kia Corp., were sold 102,405 units as of January 2025.
