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  South Korea’s KF-21 Fighter Jet Set for First Export to Indonesia South Korea’s homegrown Boramae (KF-21) fighter jet, slated to enter mass production this year, is set for its first export — to Indonesia, a co-developer of the program. Government and defense industry officials said Thursday that an export agreement for Indonesia to acquire 16 KF-21s is expected to be signed during Indonesian President Prabowo Subianto’s state visit to South Korea planned for later this month, at Korea Aerospace Industries (KAI). Officials said the two sides are expe March 19, 2026
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  Porsche to Expand EV Push in South Korea With Cayenne Electric, Korean Battery Cells Porsche, the sports-car maker, is strengthening its electrified lineup in South Korea, led by the Cayenne Electric, which is set for an official local launch in the second half of this year. The company also plans to increase EV investment in the market. Starting this year, Porsche’s all-electric models sold in South Korea will use Korean battery cells, a move aimed at reinforcing its lead in the premium EV segment priced above 100 million won. Matthias Busse, CEO of Porsche Korea, announc March 19, 2026
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  Hanwha Ocean, Hyosung Heavy Industries and Iljin Electric tout North America demand at annual meetings Hanwha Ocean, Hyosung Heavy Industries and Iljin Electric held annual shareholders meetings on March 19, outlining growth plans centered on North America and signaling expectations for more orders. Some agenda items were voted down, however, as the National Pension Service opposed proposals at several meetings, highlighting governance as a variable. Hanwha Ocean held its 26th annual meeting at Geoje Ocean Plaza and approved the reappointment of CEO Kim Hee-cheol as an inside director. Kim March 19, 2026
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  Hyundai Struggles in China as Chinese Automakers Step Up Push Into South Korea Hyundai Motor Co. is again struggling to gain traction in China, with local sales slipping and the company leaning more heavily on exports from its China operations. Chinese automakers, meanwhile, are accelerating efforts to expand sales in South Korea by rolling out new models. According to industry data released Thursday, Beijing Hyundai Motor Co. (BHMC), Hyundai’s China unit, sold 16,535 vehicles in China’s domestic market in January and February, down about 500 from 17,021 a year ea March 19, 2026
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  Hanwha Ocean to Inject 164.5 Billion Won Into U.S. Subsidiary via Rights Offering Hanwha Ocean is expanding overseas investment by injecting new capital into its U.S. subsidiary. The company said Thursday that its subsidiary Hanwha Ocean USA Holdings decided on a paid-in capital increase worth about 164.5 billion won to secure funds for investment, according to a regulatory filing. The offering will be conducted as a rights issue. Hanwha Ocean, which owns 100% of the unit, will subscribe to all newly issued shares, meaning the parent will provide the funds directly w March 19, 2026
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  HMM Office Workers Union Calls Busan Headquarters Move Rushed, Plans Rally Near Blue House HMM’s office workers union has continued rallies outside the company’s Yeouido headquarters, reiterating opposition to a planned relocation of the headquarters to Busan. The HMM branch of the National Office and Financial Services Union said it held a second rally March 16, following an all-member rally March 11, calling for a halt to what it described as a rushed move and for guarantees of autonomous management at a private company. According to the industry on March 19, the union’s stat March 19, 2026
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  Hanwha Aerospace’s Arion-SMET Unmanned Vehicle Passes South Korean Defense Performance Test Hanwha Aerospace said on the 19th that its multipurpose unmanned vehicle, the Arion-SMET, has completed a Defense Acquisition Program Administration performance verification test as the sole participant. The vehicle is a key asset in the South Korean Army’s future force concept known as “Army Tiger 4.0.” The evaluation, conducted with full-scale equipment from the 3rd for about three weeks, assessed six items including top speed and operating range. The test was designed to compare the pe March 19, 2026
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  Why South Korea’s Internet Banks Sat Out Bank of Korea’s ‘Project Hangang’ CBDC Test As the Bank of Korea moves ahead with the second phase of its central bank digital currency experiment, known as “Project Hangang,” attention is turning to why South Korea’s internet-only banks are not taking part. Industry officials cite weak profitability, high upfront costs and limited interoperability as key factors that reduced incentives to join. According to the financial sector on Thursday, the country’s three internet banks did not express an intention to participate in the seco March 19, 2026
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  POSCO, Hyundai Steel unions urge relief on power and carbon costs, warn of industry crisis "South Korea’s steel industry is standing on the edge of a cliff. This is not a simple downturn. It is a national industrial security emergency." Labor unions at POSCO and Hyundai Steel held a joint news conference March 19 at the National Assembly press center, urging the government to ease the burden of industrial electricity rates and carbon-related costs. The unions called for measures including relief on industrial power bills, improvements to the carbon emissions-permit sy March 19, 2026
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  Shinhan Leads Overseas Profit as KB Improves; Woori, Hana Slide Shinhan Bank and KB Kookmin Bank posted solid results across most overseas units, while Hana Bank and Woori Bank saw weaker performance as losses widened at key subsidiaries, the financial industry said. Results diverged sharply by market — including China, Europe and Southeast Asia — shaping winners and losers among the major lenders. According to the financial sector on the 19th, Shinhan’s 10 overseas subsidiaries posted a combined net profit of 586.9 billion won last year, the highes March 19, 2026