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1 week ago | 
kedglobal.com | Jin-Won Kim
Lotte Chemical Corp., South Korea’s second-largest petrochemical company grappling with mounting losses amid a prolonged industry downturn, will sell its water treatment business to a subsidiary of Synopex Inc. to focus on core businesses. The company announced on Friday that it had signed a deal with Synopex Membrane to sell its water treatment plant in Daegue, about 300 kilometers south of Seoul.
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2 weeks ago | 
kedglobal.com | Jin-Won Kim
GWANGYANG, SOUTH JEOLLA – POSCO Future M Co., South Korea’s leading battery materials maker, has secured a China-free cathode material supply chain after completing a new precursor plant in the southern port city of Gwangyang, the company said on Tuesday.
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1 month ago | 
kedglobal.com | Jin-Won Kim
Hanwha Aerospace Co. plans to build a precision missile manufacturing plant in Germany – a pivotal shift in its global strategy that will place the leading South Korean defense company in direct competition with leading European defense firms. The move comes as the defense affiliate of Korea’s chemicals-to-defense conglomerate Hanwha Group accelerates its push into Europe, capitalizing on the continent’s record defense spending and strategic shift toward domestically sourced armaments.
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1 month ago | 
kedglobal.com | Jin-Won Kim
Hanwha Aerospace Co. plans to build a precision missile manufacturing plant in Germany – a pivotal shift in its global strategy that will place the leading South Korean defense company in direct competition with European defense champion Rheinmetall AG on its own turf.
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1 month ago | 
kedglobal.com | Jin-Won Kim
GEOJE, South Korea – Under a slate-grey sky at the quiet port of Jangmok on South Korea’s southern coast, a sleek, 12-meter vessel slipped into the waters. To the untrained eye, it could have been mistaken for an ordinary fishing boat. But as it powered through the waves, the Hae-ryeong – or Sea Ghost – revealed its true nature.
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1 month ago | 
kedglobal.com | Jin-Won Kim |Woo-Sub Kim
BUSAN – On a sunny May morning in Busan’s Yeongdo shipyard, the clang of steel and the rhythmic pounding of welders was telling a story of a shipyard once left adrift, now navigating calmer waters. Workers swarmed over the frames of seven specialty vessels: four air-cushion vehicles, two high-speed patrol boats and a fisheries guidance vessel. Next to them, a 9,000 TEU container ship, commissioned by shipping giant HMM Co., was undergoing final outfitting.
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2 months ago | 
kedglobal.com | Sang-Hoon Sung |Woo-Sub Kim |Jin-Won Kim
LG Energy Solution Ltd. has secured a string of billion-dollar energy storage system (ESS) deals in Japan and Europe, outmaneuvering Chinese rivals in a rare breakthrough for a South Korean battery maker in traditionally China-dominated markets. LG Energy has signed a contract to supply more than 2 gigawatt-hours (GWh) of lithium iron phosphate (LFP) batteries to Japan’s Omron Corp. over five years, starting at the end of this year, people familiar with the matter said on Tuesday.
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2 months ago | 
kedglobal.com | Sang-Hoon Sung |Jin-Won Kim
As order books swell due to green shipping mandates, LNG demand and military naval modernization, South Korean shipbuilders are extending their global reach by utilizing overseas dockyards.
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2 months ago | 
kedglobal.com | Woo-Sub Kim |Jin-Won Kim |Hyung-kyu Kim
POSCO, the world’s seventh-largest steelmaker, is seeking to invest in smaller rival Hyundai Steel Co.'s first overseas plant in the US, in exchange for local production of its own steel products in the country to mitigate hefty 25% US tariffs on steel imports. If the two strike a deal, it would mark Korea’s top two steelmakers’ first joint investment and production project abroad.
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2 months ago | 
kedglobal.com | Jin-Won Kim
HD Hyundai Heavy Industries Co. (HD HHI) and US naval shipbuilding leader Huntington Ingalls Industries Inc. (HII) have agreed to join hands to build battle force ships, a move expected to open up new markets for South Korea’s largest shipbuilder in the US. On Monday, HD HHI and HII signed a memorandum of understanding (MOU) to work together to build warships and commercial ships and develop next-generation shipbuilding technologies, the two shipbuilding giants announced on Tuesday.
