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2 months ago | 
kedglobal.com | Hyeon-woo Oh |Joo-wan Kim
Lee Hae-jin, the founder of South Korea’s No. 1 internet portal operator Naver Corp., is set to return to the company to lead the board amid the intensifying global artificial intelligence technology war. His return as chairman of the board was announced on Friday after the company announced its annual sales for 2024 topped 10 trillion won ($7 billion) for the first time since its inception.
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Jan 14, 2025 | 
kedglobal.com | Hyeon-woo Oh
South Korea’s largest zinc smelter, Korea Zinc Inc., plans to export antimony to the US. This rare metal is a flame retardant for batteries and semiconductors. According to the domestic battery industry on Tuesday, the South Korean Ministry of Trade, Industry and Energy and Korea Zinc will increase the amount of antimony exported each year, starting with 350 tons this year.
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Dec 11, 2024 | 
kedglobal.com | Hyeon-woo Oh |Woo-Sub Kim
China’s Mingyang Smart Energy, one of the top five global wind turbine suppliers, is gearing up for its advance into South Korea’s wind turbine market, set to grow to 100 trillion won ($70 billion) by 2030, with local wind power leader Unison Co. through its first-ever technology handover to a Korean firm.
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Dec 1, 2024 | 
kedglobal.com | Hyeon-woo Oh
STX Corp., a South Korean general trading company, said on Monday it signed a contract with Fábrica de Armas y Municiones del Ejércitom, the Peruvian state arms procurement agency, to export Hyundai Rotem Co. 's wheeled armored vehicle K808 White Tiger. Under the deal, STX will supply 30 units of K808 White Tiger, totaling $60 million. According to STX, the contract to supply the wheeled armored vehicles represents 9.17% of the company's revenue.
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Nov 27, 2024 | 
kedglobal.com | Hyeon-woo Oh
HJ Shipbuilding & Construction Co. (HJ S&C) said on Wednesday it won a 124.7 billion won ($894 million) contract from the Defense Acquisition Program Administration (DAPA) to lead the performance upgrade and system development for 18 guided missile fast attack crafts (PKGs) for the South Korean Navy. The PKGs will be delivered by 2023 to the South Korean Navy.
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Nov 27, 2024 | 
kedglobal.com | Hyeon-woo Oh
South Korea's HD Hyundai Heavy Industries Co. completed and delivered Jeongjo the Great, one of the world's top-tier Aegis destroyers, to the South Korean Navy. HD Hyundai Heavy announced on Wednesday that it held a delivery signing ceremony at its Ulsan headquarters for the Jeongjo the Great, an 8,200-ton Aegis destroyer (Batch-II).
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Nov 25, 2024 | 
kedglobal.com | Hyeon-woo Oh
South Korea's Samsung C&T Corp. and LS Electric Co. signed a memorandum of understanding (MOU) on Monday to expand solar power projects in the US. Under the agreement, the two firms plan to establish a joint venture (JV) in the US. Samsung C&T will oversee permitting and renewable energy development through the JV, while LS Electric will provide power solutions and related technologies.
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Nov 20, 2024 | 
kedglobal.com | Hyeon-woo Oh |Hyung-kyu Kim
South Korea, the world’s fourth-largest oil importer, is considering increasing US oil imports to ease potential pressure from President-elect Donald Trump’s trade protectionism as he seeks to export more fuels. South Korea surveyed the current status of oil purchases and supplier diversification of four refiners in the country – SK Innovation Co., GS Caltex Corp., S-Oil Corp. and HD Hyundai Oilbank Co., according to industry and government sources on Wednesday.
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Nov 19, 2024 | 
kedglobal.com | Hyeon-woo Oh
POSCO, the world’s seventh-largest steelmaker, said on Tuesday it has shut down a wire rod mill in South Korea as rising exports from China exacerbated a global oversupply. POSCO shuttered the No. 1 wire rod mill at Pohang Steel Works in the southern port city of Pohang, North Gyeongsang Province. The mill has produced 28 million tons of wire rods since it started operations on Feb. 28, 1979.
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Nov 18, 2024 | 
kedglobal.com | Woo-Sub Kim |Hyeon-woo Oh
Korea Zinc Inc. Chair Choi Yun-birm said on Sunday he is preparing cards up his sleeve to maintain the management control of the world’s top zinc and lead smelter from a takeover bid from MBK Partners Ltd., which is closer to winning the battle. “The game is not over yet. I am preparing several defensive measures. I am confident I can win,” Choi told The Korea Economic Daily in an exclusive interview, vowing to fight to the end.
