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3 days 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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1 month 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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1 month 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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1 month 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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1 month 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.
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1 month ago | 
kedglobal.com | Jin-Won Kim
HD Hyundai Co., the world’s largest shipbuilding group, is emerging as a key beneficiary of the Trump administration’s tariff policies as global ocean carriers are turning to South Korean shipyards to avoid heavy duties the US government is mulling against Chinese ships. HD Hyundai Samho Co. and HD Hyundai Mipo Co., under HD Hyundai Heavy Industries Co., are set to bag orders worth about $1.55 billion in total from Capital Maritime, according to shipping industry sources on Friday.
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1 month ago | 
kedglobal.com | Woo-Sub Kim |Jin-Won Kim |Hyung-kyu Kim
South Korea’s chemical-to-defense conglomerate Hanwha Group Chairman Kim Seung-youn will hand over half of his holdings in the conglomerate’s de facto holding firm Hanwha Corp. to his three sons, effectively ushering in a third-generation leadership era at one of the country’s largest chaebols. The group announced on Monday that Chairman Kim will transfer 11.32% of his 22.65% stake in Hanwha Corp.
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1 month ago | 
kedglobal.com | Hyung-kyu Kim |Jin-Won Kim
Hyundai Steel Co. is set to shut down its reinforced bar plant in Incheon in April to trim output as steel bar prices are hovering near a four-and-a-half-year low, slipping below its breakeven point, according to industry sources on Thursday. The planned suspension marks the first such move by the largest steelmaker in South Korea at its flagship manufacturing facility -- the country’s largest rebar plant -- since its founding.
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1 month ago | 
kedglobal.com | Jin-Won Kim |Sang-Hoon Sung
South Korea, home to the world’s leading battery makers such as LG Energy Solution Ltd., SK On Co. and Samsung SDI Co., is seeking to enact laws to lay the legal groundwork for offering subsidies to its battery makers. According to industry sources on Thursday, lawmakers are working on a bill to introduce direct subsidies for domestic battery manufacturers – something similar to the US Advanced Manufacturing Production Credit (AMPC).
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1 month ago | 
kedglobal.com | Jin-Won Kim
POSCO Holdings Inc. has decided to sell its entire stake in Nippon Steel Corp. it has held for more than two decades, according to industry sources on Wednesday, marking the end of their cross-shareholding partnership and signaling rising trade tensions between South Korea and Japan in the steel sector. The decision followed Nippon Steel’s announcement in September last year to unload its entire 3.4% stake, or 2.89 million shares, in POSCO Holdings.
