Journalist

Lee Hugh
  • South Korea Pharma-Bio Brief: Dong-A Launches Pureka; Yuhan Marks 100 Years; Celltrion, Samsung Biologics Updates
    South Korea Pharma-Bio Brief: Dong-A Launches Pureka; Yuhan Marks 100 Years; Celltrion, Samsung Biologics Updates Dong-A Pharm launches Pureka, a stick-pack salad with 41 fruits and vegetables Dong-A Pharm said Tuesday it has launched Pureka, a single-serve stick pack that contains 41 fruits and vegetables for convenient consumption. The company said the product targets consumers seeking to improve eating habits for health management. It is positioned around the “reverse eating” trend — eating vegetables, then protein, then carbohydrates — aimed at moderating post-meal blood sugar spikes, offering a way to consume vegetables before a meal. The brand name combines “Pure” and “Eureka,” the company said, to convey the idea of discovering a simple, “pure” daily health routine. Each stick pack is designed for easy use without washing or prep, and includes a dual blend of soluble and insoluble dietary fiber, plus probiotics and digestive enzymes, the company said. Pureka comes in two versions: “Pureka Greens Watermix,” a powder mixed with water, and “Pureka Greens Crunch,” an ultra-small tablet meant to be chewed. Yuhan marks 100th anniversary with campaign to collect company historical materials Yuhan said Tuesday it will run a campaign to collect historical materials tied to the company as it marks its 100th anniversary. The campaign aims to help restore the history of founder Dr. Yu Ilhan and Yuhan’s 100 years, the company said, by gathering a wide range of records, including items held by individuals. Eligible materials include items produced or used before 2000, such as photos and documents related to Dr. Yu and Yuhan, books, and museum-type items including products and souvenirs. The company said it will accept submissions ranging from personal daily records to materials with historical significance. Submissions will be accepted through Feb. 27 via online or text message, with a brief description and photos attached, the company said. Yuhan said it will review submissions based on archival value, preservation condition and potential use before selecting items. Selected materials will be used for Yuhan’s 100th anniversary archive, exhibitions and content production, it said. Celltrion says Omliclo gains traction in Spain, a key European market Celltrion said Tuesday that Omliclo (omalizumab), a treatment for chronic spontaneous urticaria and allergic asthma, is accelerating its market expansion in Spain. Celltrion’s Spain unit was selected late last year as the top-ranked supplier in a public tender in Catalonia, a major region, the company said. It was also chosen as the top-ranked bidder in a tender to supply all public medical institutions in the Basque Country and completed a supply contract last month, it said. Omliclo is now prescribed across about 260 public and private hospitals in Spain, Celltrion said. The company said it plans to use its Spain strategy and results to expand prescriptions across Europe. Samsung Biologics signs vaccine manufacturing partnership with CEPI Samsung Biologics said Tuesday it signed a partnership agreement with the Coalition for Epidemic Preparedness Innovations, or CEPI, on Monday at the Conrad Seoul hotel in Yeouido, Seoul, to join a vaccine manufacturing facility network. Under the partnership, Samsung Biologics will be designated a “preferred” manufacturer for vaccines CEPI is supporting, the company said. In the event of a pandemic, Samsung Biologics said it will produce up to 50 million doses of vaccine and drug substance that can be converted into up to 1 billion doses of drug product vaccine, at CEPI’s request. Vaccines produced by Samsung Biologics would be supplied to South Korea first upon CEPI’s request, it said. The company said the partners will also conduct simulation exercises for rapid response, using a scenario involving an outbreak of wild-type H5 influenza. The drills are intended to verify the speed and stability of end-to-end capabilities from antigen development through manufacturing and supply, it said. Samsung Biologics said the two sides also plan to work together to strengthen chemistry, manufacturing and controls process development for recombinant protein vaccines and to expand standby production capacity.* This article has been translated by AI. 2026-02-04 17:48:00
  • KOSPI and Samsung Elec tower over Asian bourses
    KOSPI and Samsung Elec tower over Asian bourses SEOUL, February 04 (AJP) - Korean stocks continued to dominate regional markets on Wednesday, extending their record-setting streak and reinforcing South Korea’s growing influence in Asian equities. Samsung Electronics powered the rally, becoming the first Korean company to surpass 1,000 trillion won ($688 billion) in market capitalization based solely on common shares. The milestone cemented the chipmaking giant’s role as the anchor behind the KOSPI’s push into uncharted territory. Shares of Samsung Electronics rose 0.8 percent to 168,800 won, lifting its market value to 1,001 trillion won. The achievement was widely viewed as symbolic, marking not only a new chapter for the company but also underscoring a broader re-rating of Korea’s equity market led by heavyweight blue chips. Samsung’s advance helped drive the KOSPI up 1.6 percent to 5,371.1, marking the first close above the 5,300 level. The benchmark opened lower at 5,260.7, tracking overnight weakness in U.S. equities, but quickly reversed course and extended gains through the afternoon. The KOSPI 200 climbed 1.4 percent to 790.4, reflecting renewed institutional appetite for large-cap stocks. Institutions remained the primary driver, buying a net 1.78 trillion won, while foreign investors and retail investors sold 940 billion won and 1.01 trillion won, respectively. Beyond Samsung, gains spread selectively across cyclical and policy-sensitive names. Hyundai Motor rose 2.5 percent, while Doosan Enerbility jumped 5.8 percent, reinforcing strength in energy and infrastructure-related stocks. Sector performance pointed to a clear rotation into energy-linked names. Energy equipment and services stocks surged 16.02 percent, leading the market. Hanwha Solutions soared 30 percent to 36,450 won, while HD Hyundai Energy Solutions jumped 29.8 percent to 70,500 won, driven by expectations of sustained demand for energy infrastructure and storage solutions. EcoPro gained 3.5 percent, and Hanwha Ocean advanced 1.8 percent, extending gains across the broader industrial complex. The KOSDAQ lagged the main board but still closed higher, rising 0.5 percent to 1,149.4. The tech-heavy index underperformed as investors remained cautious toward growth stocks following recent volatility. On the secondary market, individual investors bought a net 234.5 billion won, while foreigners and institutions sold 53.9 billion won and 144.4 billion won, respectively. Some pockets of weakness persisted. SK hynix slipped 0.8 percent to 900,000 won, while NAVER fell 1.7 percent to 264,500 won. Healthcare technology was the weakest sector, down 2.5 percent, reflecting continued profit-taking. The won weakened further, with the dollar rising 2.1 won to 1,453.1. Global developments remained a key overhang. U.S. President Donald Trump announced new tariffs of 25 percent on imports from Canada and Mexico and 10 percent on Chinese goods. Although he later granted a one-month delay for Canada and Mexico after the two countries pledged stronger border controls, Trump warned that tariffs on China could be raised further if negotiations fail. European markets slid sharply on fears that similar measures could be extended to the European Union. Elsewhere in Asia, markets were mixed. Japan’s Nikkei 225 fell 0.8 percent to 54,293.4 amid trade jitters, while China’s Shanghai Composite rose 0.9 percent to 4,102.2, supported by selective buying in industrial and energy-linked stocks. 2026-02-04 17:42:54
  • Seouls FX battle costs $4 bn over the last two months
    Seoul's FX battle costs $4 bn over the last two months SEOUL, February 04 (AJP) - South Korea has deployed nearly every tool in its policy playbook to defend the won, which authorities say has weakened “excessively” beyond its fundamentals — a view shared even by the U.S. Treasury secretary. Measures have ranged from pressuring public and private institutions to sell dollar holdings to offering tax incentives aimed at drawing capital back home. Yet despite these efforts, the national coffers have paid a heavy price. As of the end of January 2026, foreign exchange reserves stood at $425.91 billion, down $2.15 billion from the previous month, following a decline of more than $2 billion in December, according to the Bank of Korea (BOK) on Wednesday. Nearly $4.2 billion has been depleted in just two months. The central bank attributed the decline primarily to its FX swap arrangement with the National Pension Service (NPS). Under the program, the BOK supplies dollars to the NPS for overseas equity purchases, temporarily limiting capital outflows that typically weaken the won. The BOK has said the swap would temporarily dent reserves but be reversed once the dollars are returned. However, whether the strategy is producing meaningful results remains uncertain. The average exchange rate rose to 1,467.35 won per dollar in December, up from 1,461 in November. Despite continued intervention, the rate remained weak at around 1,451 won as of Feb. 4. In late January, the won posted the sharpest decline among major currencies, briefly approaching the 1,470 level. Private dollar hoarding offsets intervention A broader look at the private sector highlights a structural challenge. According to BOK data released on Jan. 26, resident foreign currency deposits reached a record $119.43 billion in December, up $15.88 billion from November. Both the balance and the monthly increase marked all-time highs. The central bank is well aware of the trend. At a press conference following the January Monetary Policy Board meeting, BOK Governor Rhee Chang-yong noted that individuals and corporations already hold ample dollar liquidity. Rhee explained that many market participants, betting on continued dollar strength, prefer lending their dollars in financial markets rather than selling them in the spot market. “The issue lies in circulation structure, not in total supply,” he said. Meanwhile, growing preference for overseas assets reflects persistent skepticism over corporate earnings growth and long-term prospects for “Korea Inc.” Data from the Korea Securities Depository show that Korean investors’ holdings of U.S. stocks reached a record $171.8 billion, rising 5 percent between Dec. 31 and Jan. 16. The BOK also reported that outward securities investment surged by $12.26 billion in November, led by equities, while foreign inflows remained below $6 billion and were concentrated largely in bonds. Policy efforts face structural limits Authorities are rolling out measures to attract capital back home, including Reshoring Investment Accounts and the National Growth Fund. The Financial Supervisory Service is also considering incentives such as higher interest rates for converting dollars into won. South Korea’s gradual inclusion in the World Government Bond Index through November is also raising hopes for stronger foreign inflows. Still, analysts stress that sustained currency stability ultimately depends on economic fundamentals. Shinhan Securities expects the exchange rate to remain around 1,400 won per dollar, citing weak growth and slowing potential output. South Korea’s economy contracted 0.3 percent in the fourth quarter of 2025, while full-year growth barely reached 1 percent. “The reason many people are investing in ‘Gobbuss’ (KODEX 200 Futures Inverse 2X) even as the KOSPI hits record highs is anxiety over the real economy,” said an investment banking official, speaking on condition of anonymity. “The psychology behind refusing to sell dollars is essentially the same.” Stocks surge despite currency weakness Despite the won’s fragility, equity markets continued to rally. The KOSPI closed Wednesday at a record 5,371.10, up 1.57 percent. Institutional investors posted net purchases of 1.4 trillion won ($964.2 million), while retail investors sold a net 1 trillion won. In January, institutions were net buyers of 34 trillion won, while retail and foreign investors were net sellers of 2.7 trillion won and 3.7 trillion won, respectively. Meanwhile, the dollar rose 1.30 won to close at 1,452.30. 2026-02-04 17:42:43
  • Knock, knock, spring is here
    Knock, knock, spring is here SEOUL, February 04 (AJP) -“May every household be filled with joy and good fortune throughout the year.” On a quiet Tuesday morning, as winter loosened its final grip, the words of blessing were once again pinned to wooden gates at Namsangol Hanok Village in central Seoul. To mark Ipchun — the first seasonal division of spring — a demonstration of the traditional posting of ipchuncheop unfolded at the village’s main gate. A family born in 1990, the Year of the Horse, carefully attached the calligraphy strips, reviving a custom passed down through generations. Ipchun, one of the 24 solar terms of the traditional East Asian calendar, usually falls around Feb. 4. It signals not only the start of spring, but the quiet return of warmth, light and renewal. On this day, Koreans have long displayed calligraphy bearing the phrase: “Ipchun Daegil, Geonyang Dagyeong” — With spring’s arrival comes great fortune, and as positive energy rises, countless blessings follow. The words are often placed diagonally on doors or gates, as if inviting luck to step inside before anyone else. More than decoration, the strips serve as gentle wishes for health, prosperity and protection from misfortune in the year ahead. The family taking part in the ceremony shared a special connection to the site. A decade ago, they had held their traditional wedding and photo shoot at the same village. Now, they returned not as newlyweds, but as a family, linking past and present through ritual. Each year, Namsangol Hanok Village hosts the Ipchuncheop demonstration to help citizens rediscover seasonal traditions that once guided everyday life. In an age of digital calendars and hurried routines, the ceremony offers a pause — a reminder that time, too, has its own rhythm. As ink met paper and paper met wood, winter quietly stepped aside. And spring, once again, found its way to the doorstep. 2026-02-04 17:32:32
  • Hanwha to Debut AI-Enabled Loitering Precision-Guided Weapon at Saudi Defense Show
    Hanwha to Debut AI-Enabled Loitering Precision-Guided Weapon at Saudi Defense Show Hanwha is set to unveil advanced weapons systems to the global market for the first time, including an artificial intelligence-enabled “loitering precision-guided weapon (L-PGW).” Hanwha Aerospace, Hanwha Systems and Hanwha Ocean said Tuesday they will take part in the World Defense Show 2026 in Riyadh, Saudi Arabia, from Feb. 8-12 with their largest-ever integrated booth, covering 677 square meters (including 50 square meters outdoors). The biennial show is being held for the third time this year, with 773 companies from 76 countries participating. Hanwha Aerospace’s L-PGW is described as a next-generation capability in which AI independently scouts, identifies and strikes targets. The system uses a new concept in which a suicide drone separates and launches at the moment of attack. Hanwha said it will be the weapon’s first public showing in the global advanced-arms market, which has been led by major U.S. and European firms. Hanwha Systems will also present its vision for AI-based future weapons spanning surveillance and reconnaissance, space and maritime operations. It plans to debut a multipurpose radar (MMR) designed to operate with ground weapon systems and counter evolving low-altitude air threats such as drones. The companies will showcase an AI-based combat management system (CMS), an AESA-based four-sided fixed multifunction radar (MFR), and a “smart battleship” concept incorporating unmanned systems and stealth design. A K9A1 self-propelled howitzer fitted with an STX Engine from South Korea will be displayed as a physical unit and was built to meet Saudi export requirements. Hanwha will also exhibit the Jangbogo-III Batch-II 3,000-ton-class submarine launched in a ceremony last October, along with a submarine base, surface ships and unmanned surface vessels. A Hanwha official said the company will work as “one team” with the South Korean government to develop global markets and enter overseas markets with partner firms, adding it will “make a practical contribution” to Saudi Arabia’s defense and industrial self-reliance and strengthen a strategic partnership.* This article has been translated by AI. 2026-02-04 17:30:00
  • Hanwha Ocean Tops 1 Trillion Won in Operating Profit After 3 Years, Labor Tensions Loom
    Hanwha Ocean Tops 1 Trillion Won in Operating Profit After 3 Years, Labor Tensions Loom Hanwha Ocean has reached 1 trillion won in operating profit three years after its launch, strengthening earnings stability across Hanwha Group as the shipbuilder focuses on LNG carriers and specialty vessels. According to the industry on Tuesday, Hanwha Ocean said in a regulatory filing that its 2025 consolidated revenue rose to 12.6884 trillion won and operating profit climbed to 1.1091 trillion won as sales of commercial and specialty ships increased. Revenue was up 18% from a year earlier, and operating profit jumped 366%, driven by higher LNG carrier and specialty-ship sales. It was the first time the company’s annual operating profit topped 1 trillion won since 2018, and the first such result since it joined Hanwha Group. Hanwha Group acquired Daewoo Shipbuilding & Marine Engineering in 2023 and relaunched it as Hanwha Ocean. After joining the group, Hanwha Ocean accelerated restructuring, ending three straight years of losses that began in 2021. It posted 237.8 billion won in operating profit in 2024, then expanded that figure by more than fivefold in 2025 to re-enter the “1 trillion won club.” The company credited a strategy of focusing on higher-value ships, including LNG carriers, specialty vessels and defense ships, while screening out orders with uncertain profitability and improving cost structure and production efficiency. Hanwha Ocean said it was the only South Korean shipbuilder to post more than $10 billion in orders last year. It said it has booked total orders of $10.05 billion so far, including 13 LNG carriers, 20 very large crude carriers and 17 container ships. The rebound has also lifted Hanwha Group’s valuation, the report said, as investors refocused on the group’s core businesses in defense, energy and shipbuilding and shares of key affiliates rose, pushing the group’s market capitalization above 150 trillion won. Hanwha Ocean gave a positive outlook for this year, citing expectations for revenue growth as high ship prices for LNG carriers and other vessels persist, and for steady profitability as the share of high-margin projects increases. Labor-management relations remain a key challenge. The company has said it plans to be the first in the shipbuilding industry to pay the same performance bonuses to prime contractors and subcontractors, but tensions have not fully eased at worksites. Some have warned that any gap between the principle of equal bonuses and the actual payment structure could reignite conflict. A business group official said, “Hanwha Ocean’s normalization has led not only to improved results at an individual affiliate but also to a revaluation of the group as a whole,” adding, “Uncertainty in labor-management relations over performance bonuses could become a burden for Hanwha Ocean ahead of major projects.”* This article has been translated by AI. 2026-02-04 17:18:00
  • Mortgage Rates Top Unsecured Loan Rates at South Korea’s Five Biggest Banks
    Mortgage Rates Top Unsecured Loan Rates at South Korea’s Five Biggest Banks Mortgage rates at South Korea’s five biggest banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — have risen above unsecured personal-loan rates across the board, upending the usual pricing rule that secured loans cost less. The shift is increasingly being seen as a new normal, leaving borrowers facing maturities or rate resets weighing whether to use cheaper unsecured loans to pay down part of their mortgages. As of Feb. 4, the banks’ five-year fixed or hybrid mortgage rates ranged from 4.13% to 6.73% annually. Unsecured loans tied to a six-month floating rate were lower, at 3.84% to 5.42%. That put unsecured loans 0.29 percentage points cheaper at the low end and 1.31 points cheaper at the high end — a clear “rate inversion.” Typically, mortgages carry lower rates because collateral reduces the risk of loss. But all five banks are now charging more for mortgages than for unsecured credit. A key driver is diverging market rates used as loan benchmarks. Over the past year, bank bond yields moved in opposite directions by maturity. The six-month yield slipped to 2.824% as of Feb. 3 from 2.994% in early February last year, while the five-year yield climbed to 3.766% from 2.983% — up nearly 1 percentage point. Different expectations across maturities helped push the rates apart. Banks’ tighter management of household lending is reinforcing the inversion. Financial authorities changed capital rules this year to require banks to hold more risk-weighted assets, or RWA, when issuing new mortgages. The minimum RWA weight for mortgages rose to 20% from 15%, meaning banks’ financial soundness can deteriorate more even if they lend the same amount as in past years. To protect capital, banks are under pressure to curb mortgage supply and raise entry barriers, including by increasing add-on rates. Woori Bank has already raised add-on rates by 0.30 to 0.38 percentage points since Feb. 2 for apartment-backed mortgages and its “Woori Jeonse Loan” product, citing more efficient household-debt management. Other banks are also expected to follow with similar increases. Mortgage rates may not fall easily as overall household lending is expected to tighten further. Financial Services Commission Chairman Lee Eok-won said the banking sector’s household-loan growth rate was 1.8% last year and that authorities plan to set this year’s management target lower, adding that a separate management target would be set for mortgages. The unusual pricing has complicated decisions for borrowers nearing maturity or a rate change. Taking out a cheaper unsecured loan to repay part of a mortgage could reduce interest costs, but it is constrained by debt-service ratio rules and a cap that limits unsecured borrowing to 100% of annual income. With top mortgage rates nearing 7%, some borrowers have said they are afraid of upcoming rate resets. A banking industry official said the inversion is unlikely to be resolved soon because mortgage rates have become more sensitive to policy factors. The official added that banks will keep reviewing ways to reduce mortgage supply, also in light of the government’s comments about normalizing real estate finance.* This article has been translated by AI. 2026-02-04 17:03:00
  • Lotte Chemical posts 2025 operating loss of 943.6 billion won as deficit widens
    Lotte Chemical posts 2025 operating loss of 943.6 billion won as deficit widens Lotte Chemical said Tuesday it posted 2025 consolidated revenue of 18.483 trillion won and an operating loss of 943.6 billion won. Revenue fell 7.1% from a year earlier, while the operating loss widened 3.2%. The company has remained in the red for four straight years since 2022, citing oversupply of commodity petrochemical products from China. In the fourth quarter, revenue totaled 4.7099 trillion won and the operating loss was 433.9 billion won. Its basic materials business — Lotte Chemical Basic Materials, LC Titan, LC USA and Lotte GS Chemical — reported revenue of 3.3431 trillion won and an operating loss of 395.7 billion won. Revenue slipped 1.2% from the previous quarter, and profitability weakened due to the startup of Lotte Chemical Indonesia (LCI) and seasonal off-peak demand. The advanced materials business posted revenue of 929.5 billion won and operating profit of 22.1 billion won. Profitability declined from the previous quarter as sales volumes fell amid seasonal weakness and year-end inventory adjustments by customers. Subsidiary Lotte Fine Chemical reported revenue of 439.1 billion won and operating profit of 19.3 billion won. Lotte Energy Materials posted revenue of 170.9 billion won and an operating loss of 33.8 billion won. Lotte Chemical said it plans to pursue a strategy centered on two tracks this year: reducing the share of commodity petrochemicals in its business portfolio and building a foundation for future growth.* This article has been translated by AI. 2026-02-04 17:00:00
  • South Korea eyes top-10 finish at Milan-Cortina Winter Olympics
    South Korea eyes top-10 finish at Milan-Cortina Winter Olympics SEOUL, February 4 (AJP) - South Korea aims for a top 10 finish with at least three gold medals at this year's Winter Olympics which kick off in Cortina d'Ampezzo and Milan later this week. At the previous Olympics in Beijing four years ago, the country finished 14th, winning two gold, five silver, and two bronze medals. Its most recent top-10 finish came at the 2018 Pyeongchang Games, where it placed seventh overall with five gold, eight silver, and four bronze medals. The opening ceremony of the quadrennial sporting event is slated for Friday in Milan, marking a return to the European country for the first time in about two decades since the 2006 Turin Games. South Korea will field 71 athletes in snowboarding, bobsleigh, speed skating, short-track skating, and figure skating. The country's first medal could come from snowboarding, where Lee Sang-ho, the Pyeongchang silver medalist who is considered a dark horse contender, will compete in men's parallel giant slalom on Sunday. But the country might have to wait a few days for its first gold medal, which could come on Feb. 10, when South Korea's ace short-track speed skaters compete in the mixed 2,000-meter relay. Teen snowboarder Choi Ga-on is also aiming for a gold medal in the women's snowboard halfpipe final on Feb. 13, after winning three International Ski and Snowboard Federation (FIS) World Cup events leading up to the Olympics. Figure skater Cha Jun-hwan, who finished fifth at the Beijing Games, has his sights set on becoming the first South Korean man to win an Olympic medal in the sport. On Feb. 16, speed skating favorites Kim Min-sun and Lee Na-hyun will race in the women's 500 meters. Meanwhile, the two-week-long Olympics on snow and ice will run until Feb. 22, bringing together around 3,500 athletes from over 90 countries to compete for 116 medals across 16 disciplines. 2026-02-04 16:44:44
  • Korean tire makers weather US tariff headwinds, turn focus to high-end segment
    Korean tire makers weather US tariff headwinds, turn focus to high-end segment SEOUL, February 04 (AJP) - South Korean tire manufacturers reported higher sales last year despite the impact of U.S. tariffs on auto parts, supported by solid replacement-tire demand and price increases. Hankook Tire & Technology said Wednesday its tire business recorded sales of 10.32 trillion won ($7.7 billion) last year, up 9.6 percent from a year earlier and surpassing the 10 trillion won mark for the first time. Operating profit, however, fell 4.4 percent to 1.68 trillion won. The company said it maintained steady growth in both global original-equipment (OE) and replacement markets despite economic uncertainty, supported by rising demand for larger-diameter tires. Hankook said it expanded supply partnerships with automakers including Porsche, BMW, Xiaomi, Lucid Motors, Cupra and Kia, and now provides original-equipment tires to more than 40 brands across over 300 vehicle models. Nexen Tire reported sales of 3.19 trillion won last year, up 12 percent and marking its fifth consecutive year of revenue growth. Operating profit edged down 1.07 percent to 170.2 billion won. The company attributed sales growth to stable contributions from the second phase of its European plant expansion, along with continued gains in OE supply for both electric and internal-combustion vehicles supplied to more than 30 global automakers. Replacement tire sales also grew steadily, supported by region-specific product strategies. "U.S. tariffs weighed on profitability but we mitigated the impact through diversified regional distribution and a stronger product mix driven by higher sales of larger-diameter tires," a Nexen Tire official said. "Lower raw material prices and easing ocean freight rates, together with cost-efficiency measures, also helped improve margins." Kumho Tire, which is scheduled to release earnings on Thursday, is also expected to post revenue growth. According to financial data provider FnGuide, the company’s sales last year are estimated at 4.74 trillion won, up 4.6 percent, while operating profit is projected to fall 6.8 percent to 548.2 billion won, partly reflecting the impact of a fire at its Gwangju plant in May last year. Based on these estimates, combined revenue for the three tire makers is projected to reach 18.25 trillion won, up 8.7 percent from the previous year. This year, the companies plan to sustain growth through overseas capacity expansion and a focus on premium segments. Hankook said it will continue expanding production at its Tennessee plant in the United States and its facility in Hungary, while strengthening partnerships with premium automakers. The company aims to raise the share of high-inch tires to 51 percent and increase the share of electric-vehicle tires to at least 33 percent of passenger-car and light-truck OE revenue. Nexen said it will concentrate on improving sales capabilities and growth quality through marketing efforts aimed at increasing brand exposure and strengthening customer partnerships. It also plans to leverage its premium OE track record to further expand replacement-tire sales. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-04 16:34:41