Journalist
Lee Hugh
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BTS draws global fans to rain-soaked Goyang as world tour kicks off GOYANG, South Korea, April 09 (AJP) — Neither unseasonable spring rain nor distance kept fans from gathering for BTS’ first full-member stadium concert in seven years, as the group kicked off its three-night home run in Goyang, just west of Seoul, on Thursday night. Thousands filled the 41,311-seat Goyang Stadium, where a 360-degree in-the-round stage allowed all seven members to face every section of the crowd. Police estimated that roughly half of those arriving from early afternoon were foreign nationals, underscoring the group’s global pull. Tickets for all three nights sold out immediately, bringing total attendance in Goyang to about 120,000. The steady rain did little to dampen the mood. Purple umbrellas — the band’s signature color — blanketed the venue in an orderly scene that drew notice from authorities on standby. Fans freely exchanged phones with strangers to take photos, bound by little more than shared trust as members of ARMY, BTS’s global fan base. Tripti, 25, from India who came from India alone just for the show, was impressed how at home she felt. "I felt as if I wasn't alone at all. Everyone offered to take picture of me. I'm grateful and proud to be an ARMY." Jessi (24), like her Indian peer, also has come to Korea just for the show, and is hardly affected by the bad weather. Cho Eun-joo (44), who introduced herself as “Ms. Hanbok,” handed out purple daenggi hair ribbons inspired by traditional Korean dress, while others reciprocated with gifts they had brought from home — a reflection of the communal, festival-like atmosphere. The concerts mark the live debut of BTS’s fifth studio album, ARIRANG, their first group release since completing mandatory military service in mid-2025. The album, released March 20, topped the Billboard 200 for two consecutive weeks — a first for a K-pop act — while lead single “SWIM” debuted at No. 1 on the Hot 100. The “BTS World Tour ‘ARIRANG’” will span 85 shows across 34 cities through 2027, setting a new benchmark for a K-pop tour. Industry estimates suggest total revenue could reach 2.7 trillion won ($1.81 billion), excluding additional spending by fans. The expanded schedule includes Latin American stops such as Lima, Santiago and Buenos Aires, marking the group’s first full-member performances in several of those markets and new milestones at major venues across the region. Demand has already translated into strong ticket sales, with multiple dates across Asia, North America and Europe sold out. Promoter Live Nation said about 2.4 million tickets have been sold for 41 shows in North America and Europe alone. Beyond touring, BTS has sustained momentum through a staggered content rollout. A Netflix documentary, BTS: THE RETURN, traces the making of ARIRANG, while a series of music and performance videos has continued to drive global engagement across platforms. The group has also sustained engagement through a staggered release strategy, spacing out new content instead of concentrating attention around a single promotional window. The music video for “SWIM,” released on March 20, has drawn more than 92.1 million views and reached No. 3 on YouTube’s trending chart. An official performance video followed on March 25, topping 22.9 million views and ranking No. 5 on the same chart. On April 2, the “BTS 2.0” video surpassed 34.1 million views and climbed to No. 2 on YouTube’s music trending chart. Most recently, the music video for “Hooligan,” released on April 8, drew more than 4.9 million views within hours. Joonha Yoo contributed to the story. 2026-04-09 21:25:22 -
Yeon Sang-ho’s ‘Colony’ Invited to Cannes Film Festival Midnight Screenings Director Yeon Sang-ho’s film ‘Colony’ has been officially invited to the Midnight Screenings section of the 79th Cannes Film Festival, which runs May 12 to May 23 in Cannes, France. The festival’s executive committee announced the selection at an official news conference on Wednesday afternoon (Korea time). Festival director Thierry Fremaux, introducing the invitation, described ‘Colony’ as a horror zombie film set inside a sealed-off building, directed by Yeon, known worldwide for ‘Train to Busan.’ He said the premise would lead audiences to imagine “a range of narrative devices and storytelling possibilities.” The invitation marks Yeon’s fourth appearance at Cannes, following his feature-length animated debut ‘The King of Pigs’ (2012, Directors’ Fortnight), ‘Train to Busan’ (2016, Midnight Screenings) and ‘Peninsula’ (2020, Official Selection). ‘The King of Pigs’ drew attention as the first Korean feature-length animated film invited to the Directors’ Fortnight. After that, Yeon’s first live-action film, ‘Train to Busan,’ was invited to Midnight Screenings and was praised by Fremaux as “the best Midnight Screening ever, an action blockbuster that captures both entertainment and social realities.” When ‘Peninsula’ was selected, Yeon was also lauded as “a leading Korean director following Park Chan-wook and Bong Joon-ho,” the article said. The Midnight Screenings section showcases a small number of genre films — including action, thriller, noir, horror and fantasy — chosen for both artistic merit and popular appeal. With Park Chan-wook serving as jury president in the competition section and ‘Colony’ now confirmed for Midnight Screenings, the festival is expected to be especially notable for Korean film fans, the article said. Yeon said he was “very happy” to present ‘Colony’ at Cannes and added that he was excited for it to screen in Midnight Screenings, which he called a gathering place for genre-film fans worldwide. “I will proudly introduce the actors who worked with me and Korea’s genre cinema. Thank you,” he said. ‘Colony’ is set inside a building sealed off after an unidentified outbreak, where isolated survivors confront infected people who evolve in unpredictable ways. The film is scheduled for release in South Korea in May. * This article has been translated by AI. 2026-04-09 20:18:27 -
Na Hong-jin’s ‘Hope’ Invited to Compete at the 79th Cannes Film Festival Na Hong-jin’s new film “Hope” (HOPE) has been officially invited to the Competition section of the 79th Cannes Film Festival, which opens May 12. The festival’s organizing committee announced the selection on April 9 local time. Na has maintained a long relationship with Cannes: his debut feature “The Chaser” was invited to the Midnight Screenings section in 2008; “The Yellow Sea” was selected for Un Certain Regard in 2011, unusually a year after its release; and “The Wailing” screened Out of Competition in 2016. With “Hope” entering Competition, Na becomes the first Korean director to have all of his feature films invited to Cannes. Competition is the festival’s main section, typically selecting about 20 films from around the world, and this marks Na’s first time in the lineup. The invitation also puts a Korean film back in Competition for the first time in four years, since 2022’s “Decision to Leave” and “Broker.” Na, whose films have now been invited to Cannes four times in a row, said, “It’s an honor. I’ll work harder in the time remaining.” “Hope” begins at a police outpost in Hopohang, near the Demilitarized Zone, where chief Beomseok hears reports from local young men that a tiger has appeared, throwing the village into alarm as he confronts an unbelievable reality. It is Na’s first new film in 10 years since “The Wailing.” “Hope” will premiere at Cannes in May and is set for a theatrical release this summer. 2026-04-09 19:09:18 -
On-site inspections underway at universities with lapses in admitting foreign students SEOUL, April 9 (AJP) - The government is inspecting universities across the country to root out any irregularities in recruiting and admitting foreign students, the Ministry of Education said on Thursday. The ministry's comprehensive on-site inspections, to be carried out over two months until May in collaboration with the Ministry of Justice, will target schools suspected of improper screenings or admitting too many students without adequate checks. These inspections come after the recent cancellation of visas for more than 100 Chinese students enrolled at or who graduated from Honam University in the southwestern city of Gwangju, after immigration authorities discovered that the academic credentials they submitted were falsified. Inspectors will check whether universities properly followed admission procedures including Korean language requirements and visa regulations. Schools found committing serious violations such as falsifying documents could have their certifications revoked and be barred from issuing visas for up to three years. Nearly half of domestic universities, or 47.1 percent, are not properly accredited or certified to admit new international students, making it difficult to monitor or supervise them effectively. The ministry said it plans to introduce stricter certification procedures to help universities better recruit and evaluate international students, supporting talented overseas students and promising professionals in finding jobs in South Korea, which could pave the way for their long-term stay after completing their studies here. Separately, the ministry will select four universities for intensive inspections in the first half of this year and another four in the second half. 2026-04-09 17:53:47 -
Korean chipmakers push long-term deals as AI demand overrides cycle SEOUL, April 09 (AJP) - The memory chip market is behaving less like a cycle and more like a contract. South Korea’s Samsung Electronics and SK hynix are moving to lock in multi-year supply agreements as artificial intelligence demand strengthens their leverage over pricing and terms. Memory has long been one of the most volatile segments of the semiconductor industry, with Random Access Memory (RAM) prices prone to sharp swings. But the rapid expansion of AI infrastructure is altering that dynamic, shifting bargaining power toward suppliers. Upstream chip designers and major technology firms — including Nvidia and Tesla — are increasingly seeking contracts lasting up to five years, a departure from the industry’s traditional short-term agreements, to secure both high-end and legacy chips. Industry sources said Samsung Electronics and SK hynix are gaining greater control not only over pricing but also over contract structures, as supply constraints persist. Unlike foundry businesses, where long-term agreements are standard, memory chip supply deals have typically been negotiated over periods ranging from several weeks to a few months, reflecting fluid market conditions. The shift comes as the semiconductor industry enters what many describe as a prolonged “super-cycle,” with demand outpacing supply for an extended period. Unlike previous upcycles driven by consumer electronics, the current surge is anchored in the rapid buildout of AI and data center infrastructure, creating sustained demand that the industry’s rigid supply chain struggles to match. Building new semiconductor fabrication plants requires years and substantial capital investment, limiting the ability of suppliers to respond quickly and reinforcing tight market conditions. Samsung Electronics has reportedly begun applying a minimum three-year long-term agreement (LTA) framework for new contracts with major clients this year. The move follows comments by Jun Young-hyun, vice chairman of Samsung’s Device Solutions division, who said the company is pushing to shift supply contracts from annual or quarterly terms to multi-year agreements of three to five years. An industry official said customers are increasingly anxious about securing supply, adding that longer contract formats are becoming inevitable in a seller-driven market. SK hynix is taking a similar — and in some cases more aggressive — approach. The company is reportedly in discussions with Google over a long-term DRAM supply deal that could extend up to five years. Sources said initial talks centered on a three-year agreement but were extended to enhance supply stability during the AI-driven demand surge. The push toward multi-year contracts reflects a broader effort to reduce exposure to the industry’s long-standing boom-bust cycle, which has historically led to sharp earnings swings and large losses during downturns. By securing volumes and pricing over longer periods, memory makers can introduce greater earnings stability even if demand from consumer electronics weakens. At the same time, memory chips are increasingly seen as strategic infrastructure for AI workloads. Products such as High Bandwidth Memory (HBM) are elevating suppliers’ roles beyond commodity producers to essential partners for global technology firms. Investor sentiment reflects expectations that the current earnings cycle could outlast the typical two-year upturn seen in previous memory markets. Samsung Electronics on Tuesday reported an operating profit of 57.2 trillion won ($38 billion) for the first quarter, surpassing its full-year 2025 earnings and placing it among the world’s top technology companies by profit, alongside Apple, Nvidia and Microsoft. 2026-04-09 17:42:40 -
Seoul seeks clarity on Hormuz terms as fee risks grow SEOUL, April 09 (AJP) - Seoul is bracing for the inevitability — payments to transit the Strait of Hormuz — expected to push up fuel prices by about 0.5 percent, as it seeks clarity from Tehran while exploring alternative routes to secure Middle East energy supplies. The Ministry of Foreign Affairs said Thursday that a call between Foreign Minister Cho Hyun and Abbas Araghchi is being arranged and could take place as early as later in the day. The talks are expected to focus on the terms for navigating the Strait of Hormuz, where Iran has indicated that traffic during the two-week ceasefire will be overseen by its armed forces. According to foreign reports and data from S&P Global Market Intelligence, only four vessels were allowed to pass through the waterway on Wednesday, sharply down from more than 100 per day before the conflict. Iran is said to be requiring ships to pre-arrange transit terms and settle fees in cryptocurrency or Chinese yuan, though such conditions have not been officially confirmed. Cho is expected to seek clarification on reported requirements, including coordination with Iranian forces and unspecified “technical limitations.” Seoul is also expected to inquire whether potential measures such as transit fees or joint collection mechanisms mentioned by the United States have any concrete basis. Despite a ceasefire between Washington and Tehran, vessels remain stranded in the strategic waterway, including 26 South Korean ships. Officials say clearer conditions are needed before plans can be finalized to ensure safe passage. “We are prioritizing the safety of our vessels and crew while consulting with relevant countries,” a ministry spokesperson said, reiterating Seoul’s position that freedom of navigation must be guaranteed. The uncertainty comes amid broader questions over the U.S.-Iran ceasefire. U.S. President Donald Trump described the truce as a “total and complete victory” and suggested that most elements of a broader agreement had already been settled. However, key details remain unclear, including the handling of Iran’s enriched uranium and the exact terms for reopening the strait. Trump also indicated that China may have played a role in bringing Iran to the negotiating table, highlighting Beijing’s influence as a major buyer of Iranian oil. South Korea’s Ministry of Trade, Industry and Energy estimated that if a transit fee of around $1 per barrel is introduced, global oil prices could rise by about 1 percent. Given that roughly half of domestic fuel prices consist of taxes, this would translate into an estimated 0.5 percent increase in consumer fuel costs. Officials cautioned that multiple variables remain, including whether Iran will impose such fees and how the international community would respond. There have been no confirmed requests for payment, and reports of alternative settlement methods such as cryptocurrency remain unverified. In the meantime, Seoul is exploring alternative supply routes and sources. Presidential Chief of Staff Kang Hoon-sik has arrived in Kazakhstan as part of an energy diplomacy mission and is scheduled to visit Oman and Saudi Arabia. 2026-04-09 17:38:43 -
Asian stocks slip as Middle East tensions offset truce optimism SEOUL, April 09 (AJP) -Asian stocks edged lower Thursday as the celebratory mood over a temporary truce between the U.S. and Iran faded just a day after the agreement. The benchmark KOSPI fell 1.61 percent, or 94.33 points, to close at 5,778.01, after trading between a high of 5,862.41 and a low of 5,757.49. Foreign investors led the selling, offloading 874.7 billion won ($590 million), while retail and institutional investors bought a combined 504.8 billion won. Among large-cap stocks, Samsung Electronics fell 3.1 percent to 204,000 won, while SK hynix dropped 3.4 percent to 998,000 won. Hyundai Motor declined 3.6 percent, and Kia lost 5.5 percent. Sector performance was broadly negative, with transport equipment, electronics and insurance shares leading declines, while defensive sectors such as telecommunications and chemicals posted gains. The tech-heavy KOSDAQ fell 1.3 percent to 1,076.00, after moving between 1,091.38 and 1,068.82 during the session. Retail investors led buying on the KOSDAQ, purchasing 931.2 billion won, while foreign and institutional investors sold 423.9 billion won and 512.0 billion won, respectively. Market sentiment remained fragile despite a Pakistan-mediated two-week truce between Washington and Tehran, as uncertainty over its durability grew. Tensions escalated after Israel launched large-scale airstrikes across Lebanon on Wednesday (local time), even as the truce was being announced. According to Lebanese authorities, at least 182 people were killed and 890 injured, with casualties expected to rise. Lebanon’s prime minister condemned the attacks and declared a national day of mourning, raising concerns over potential disruptions to shipping through the Strait of Hormuz. U.S. President Donald Trump said American forces would remain deployed in the region until the agreement is fully implemented, warning of escalation if negotiations fail. Japan’s Nikkei 225 fell 0.7 percent, while China’s Shanghai Composite and Hong Kong’s Hang Seng Index declined 0.7 percent and 0.3 percent, respectively. The Korean won weakened in tandem, with the dollar rising to 1,482.0 won. Oil prices moved higher, with Brent crude gaining 3.0 percent to $97.7 per barrel and West Texas Intermediate rising 3.1 percent to $97.3. Market volatility eased, with the VIX falling 17.2 percent, while the Philadelphia Semiconductor Index surged 6.3 percent. 2026-04-09 17:38:19 -
SK Bioscience Symposium, GC Pharma FDA Plasma Approval, Kolon Cancer Data, Korea Bio Response Hub SK Bioscience holds 2026 Sky Vision Symposium SK Bioscience said it held its “2026 Sky Vision Symposium” on April 4-5 at the Oakwood Premier hotel in Songdo, Incheon. The sessions were chaired by Lee Jeong-yong, president of the Korean Association of Internal Medicine, and Gwak Gyeong-geun, president of the Seoul Association of Internal Medicine, with infectious-disease specialists and community physicians presenting. In the first-day vaccine session, speakers highlighted the benefits of cell-based influenza vaccines. Lee Jae-gap, a professor at Hallym University Kangnam Sacred Heart Hospital, said the cell-based method is less affected by viral mutations than egg-based vaccines and has higher antigen matching, citing the rationale behind recommendations in global guidelines, including those in the U.K., and real-world evidence of preventive effects. Noh Ji-yoon, a professor at Korea University Guro Hospital, presented on shingles vaccination strategies, citing recent findings on the long-term preventive effect of live shingles vaccines, reduced risk among people with chronic diseases such as diabetes, and links to dementia and cardiovascular disease. On the second day, discussions turned to patient-tailored nutrition therapy. Kang Han-uk, director of Jeong Internal Medicine Clinic, and Hwang Deok-won, director of Chamdeundeun Internal Medicine Clinic, presented on clinical use of three-chamber nutritional infusions and immune-strengthening strategies using omega-3 fatty acids, respectively. Lee Jeong-yong said, “As we enter an era of aging, the roles of vaccination and nutrition therapy have become more important than ever,” adding that the symposium provided practical information physicians could use immediately in clinics. GC Pharma’s Laredo plasma center wins FDA approval GC Pharma said its U.S. subsidiary ABO Plasma received U.S. Food and Drug Administration approval for its Laredo plasma center in Texas. The company said the approval came more than three months earlier than expected, citing ABO Plasma’s operating expertise and the Laredo center’s rapid process stabilization. With the approval, ABO Plasma has secured FDA clearance for all seven plasma centers it operates in the United States. In the U.S., only plasma collected at FDA-approved centers can be sold commercially or used as raw material for pharmaceuticals. ABO Plasma plans to open an eighth center in Eagle Pass, Texas, within the year. GC Pharma said it aims to raise utilization across all centers to 100% by 2028 and to self-procure 80% of the source plasma needed to produce its blood-product new drug, “Aliglo.” GC Pharma CEO Hur Eun-cheol said, “Based on a solid business structure, we will strengthen competitiveness in the U.S. plasma fractionation business.” Kolon Life Science to unveil head and neck cancer preclinical data at AACR Kolon Life Science said it will present, for the first time publicly, preclinical results for its anticancer gene-therapy candidate KLS-3021 in head and neck squamous cell carcinoma, or HNSCC, at the American Association for Cancer Research’s AACR 2026 meeting in San Diego from April 17-22 local time. The company said KLS-3021 showed antitumor effects in the HNSCC preclinical study regardless of PD-L1 expression levels. It also shifted the tumor microenvironment toward conditions favorable for anticancer immunity, supporting its potential as a next-generation immuno-oncology viral therapy, the company said. KLS-3021 is built on a recombinant vaccinia virus engineered for greater cancer-cell selectivity and carries therapeutic genes PH-20, IL-12 and sPD1-Fc. Kolon said it is designed to combine direct tumor killing with breakdown of tumor stroma and induction of anticancer immune responses. In the study, KLS-3021 showed antitumor efficacy across multiple orthotopic HNSCC tumor models. In a high PD-L1 expression model, a single intratumoral dose produced greater tumor suppression than the standard immunotherapy “anti-PD-1,” the company said, suggesting a new treatment possibility for patients with high PD-L1 expression. Kolon Life Science said it will continue to strengthen HNSCC research for KLS-3021 and use the AACR presentation to highlight its development potential and broader applicability as a next-generation oncolytic virus platform to global researchers. CEO Lee Han-uk said, “We will further refine our development strategy centered on cancers with high unmet needs and move to fully scale up global R&D cooperation.” Korea pharma-bio group launches emergency hub over Middle East war supply risks The Korea Pharmaceutical and Bio-Pharma Manufacturers Association said it has set up an emergency response headquarters to address drug supply-chain instability stemming from the Middle East war. The headquarters is led by Vice Chairman Lee Jae-guk, the association said. The organization will operate with a first deputy head, Eom Seung-in, and a second deputy head, Hong Jeong-gi, and will be divided into three teams: an overall situation team led by Deputy Head Joo Eun-young; an external cooperation team led by Director Lee Hyeon-woo; and a field communication team led by Manager Kim Myeong-jung. The association noted that naphtha is a key feedstock for ethylene production, and ethylene is a basic material for plastics. It said the pharmaceutical and biotech industry relies heavily on plastic-based materials. The overall situation team will monitor domestic drug supply and demand and review support measures. The external cooperation team will share trends in drug imports and exports and overseas developments. The field communication team will collect member companies’ difficulties and, if needed, activate an emergency contact network with company executives. The association said it will hold weekly headquarters-level meetings to respond quickly to developments in the Middle East. The association said it will closely monitor companies’ import, production and supply conditions and assess broader industry impacts. For items expected to face supply instability, it said it will work with the government on countermeasures and also coordinate with the government to check and respond to longer-term risks. Chairman Noh Yeon-hong said the domestic pharma-bio industry is facing compounded difficulties from drug price cuts and a weak won, now worsened by instability in the Middle East. “We will build a rapid response system related to the Middle East situation to ensure stable drug supply and minimize damage to the industry,” he said.* This article has been translated by AI. 2026-04-09 17:22:04 -
Surging non-bank lending raises PF scare in Korea SEOUL, April 9 (AJP) — South Korea’s non-bank lending is expanding again as tighter bank regulations and elevated borrowing costs push credit demand into less-regulated sectors, demanding scrutiny amid fragile market conditions. Financial authorities took notice and moved to curb subprime lending growth as rising market yields and exchange rate pressures are increasingly straining vulnerable households and businesses. According to the Financial Services Commission (FSC), total household debt across all financial sectors rose by 2.9 trillion won ($2 billion) in February and bigger 3.5 trillion won in March. The increase was driven largely by the secondary banking sector, which added 3.3 trillion won in February and 3 trillion won in March. Within this segment, the mutual finance industry accounted for 3.1 trillion won and 2.7 trillion won in the respective months, sustaining growth of around 3 trillion won for two consecutive months. Bank loans in contrast added just 500 billion won in March following a contraction in February, as stricter debt service ratio (DSR) rules and high interest rates curbed supply. The phenomenon owes to the revival of the so-called “balloon effect,” where credit demand shifts to the non-bank sector when bank lending is constrained — a pattern that authorities warn could amplify structural risks, particularly as stress from real estate project financing (PF) lingers. MG Community Credit Cooperatives led the March increase in mutual finance lending, accounting for 600 billion won. Its cumulative household loan growth reached 2.4 trillion won in the first quarter, prompting authorities to order zero growth from this week. The Financial Supervisory Service (FSS) has also warned of potential on-site inspections if excessive expansion continues. The risks are closely tied to the PF market, where loans are repaid through property sales. A cooling real estate market has delayed sales and increased unsold inventory, undermining repayment capacity. Total PF exposure stands at around 174 trillion won, with about 14.7 trillion won — more than 8 percent — classified as “at-risk” or “concerning,” indicating significant latent distress beyond official delinquency rates. While the overall PF delinquency rate has eased to 3.88 percent from a peak of 4.7 percent in mid-2024, analysts say the improvement may reflect restructuring and maturity extensions rather than a recovery in underlying cash flows. More than 30 PF projects still rely on extensions or restructuring, raising doubts about the sustainability of the apparent stabilization. “If the interest rate upward cycle returns, distress is likely to materialize, centered on vulnerable borrowers,” said Yoon Yeo-sam, a researcher at Meritz Securities. The trend mirrors broader concerns over the expansion of “shadow banking” risks, as credit increasingly flows outside the traditional banking system. Globally, the private credit market has grown to around $3 trillion, with rising borrowing costs adding pressure. The Secured Overnight Financing Rate (SOFR), a key benchmark, has climbed sharply, increasing repayment burdens. In response, some lenders have resorted to extending maturities or restructuring loans, while practices such as Payment-in-Kind (PIK) structures and covenant-lite lending have become more prevalent — allowing risks to accumulate without immediately appearing as delinquencies. Korean insurers hold about 29 trillion won in overseas private credit exposure, roughly 2 percent of their total assets, adding another layer of vulnerability. The International Monetary Fund (IMF) has warned that shifts in capital flows toward non-bank financial institutions could heighten systemic risks and require closer monitoring. FSS Governor Lee Chan-jin also cautioned that while current exposure levels remain manageable, a deterioration in global credit conditions could amplify risks, including potential misselling issues. 2026-04-09 17:06:03 -
HD Hyundai Heavy builds first ammonia-powered vessel, signaling shift in green shipping fuel race SEOUL, April 09 (AJP) - HD Hyundai Heavy Industries has built the world’s first ammonia-powered gas carriers, marking a significant step toward commercializing next-generation eco-friendly vessels. According to shipbuilding industry sources Thursday, HD Hyundai Heavy Industries held a naming ceremony at its Ulsan shipyard for two 46,000-cubic-meter medium-sized gas carriers equipped with dual-fuel engines. The vessels are designed to run on ammonia and liquefied petroleum gas (LPG), representing the first commercial-scale ammonia-fueled ships. The ships are equipped with safety systems including ammonia leak detection and recovery technologies, highlighting that ammonia-powered vessels are moving beyond experimental development and entering the commercialization phase. Pressure to decarbonize shipping has intensified in recent years as the International Maritime Organization (IMO) tightens emissions regulations and major cargo owners increase environmental, social and governance (ESG) requirements. Shipping companies are increasingly seeking alternatives to fossil fuel-based vessels to maintain long-term competitiveness. Liquefied natural gas (LNG) has served as a transitional fuel, while methanol-powered ships have recently gained traction. However, LNG still produces carbon emissions, and methanol is not considered fully carbon-free. As a result, ammonia and hydrogen have emerged as leading candidates for zero-carbon maritime fuels. Ammonia is widely viewed as the most viable next-generation fuel due to its higher storage density compared with liquefied hydrogen and the ability to store it under less extreme conditions. It also produces no carbon dioxide emissions during combustion, making it a zero-carbon fuel. The International Energy Agency (IEA) projects that ammonia could account for up to 46 percent of shipping fuel by 2050, reflecting its technical and economic advantages. The company has also collaborated with global energy and shipping firms such as Exmar and Trafigura, securing not only technology validation but also early demand for ammonia-powered vessels. Challenges remain, however. Ammonia’s high toxicity makes safety a key concern, while the development of fuel supply infrastructure and cost competitiveness will determine the pace of adoption. Industry watchers say the focus of shipbuilding competition is shifting from order volume to commercialization of eco-friendly fuel technologies. As the transition moves from LNG to methanol and now ammonia, companies that secure early technological leadership are expected to gain an advantage. 2026-04-09 16:53:49