[[K-Tech]] South Korea to invest $27 million in AI-powered cancer drug research SEOUL, August 04 (AJP) - South Korea will invest 37.4 billion won, or roughly $27 million, this year to advance the use of artificial intelligence and robotics in developing next-generation pharmaceuticals — with a particular focus on precision cancer therapies. The initiative, unveiled by the Ministry of Trade, Industry and Energy, aims to bolster the country’s competitiveness in the fast-growing field of antibody-drug conjugates, or ADCs — a class of targeted cancer treatments that deliver chemotherapy agents directly to tumor cells, minimizing damage to healthy tissue. To drive innovation, the ministry will open a public call for research proposals through Aug. 25. Selected projects will focus on three key areas: developing AI models to predict synthetic pathways for ADCs, creating automation modules for their production, and building fully integrated robotic workstations capable of autonomously designing and manufacturing these complex compounds. “Through this initiative, we hope to establish successful models for AI applications in the biotech industry,” the ministry said in a statement, noting that it plans to continue expanding support for innovation in drug manufacturing among domestic bio firms. ADCs represent a significant shift in cancer treatment strategy. By chemically linking antibodies, anticancer drugs, and specialized “linkers” into a single molecule, these therapies can home in on cancerous cells with high precision — a stark contrast to conventional chemotherapy, which often causes collateral damage to healthy tissues. Once bound to a tumor cell, the ADC releases its drug payload internally, attacking the cancer from within. Global demand for ADCs is rising rapidly. According to Evaluate Pharma, the market reached approximately $10 billion in 2023 and is expected to grow at an annual rate of 22.9 percent, hitting $28 billion by 2028. Experts say the pace of innovation will be key to securing leadership in the sector, especially as new “linker-drug” platforms gain traction. By investing in AI-powered autonomous labs and next-generation manufacturing systems, the government hopes to reduce drug development timelines, lower production costs, and enhance the global competitiveness of Korean bioenterprises. 2025-08-04 10:21:26

S. Korea moves to legislate 'K-Steel Act' as U.S. tariff hike threatens steel exports SEOUL, August 01 (AJP) - South Korean lawmakers are pushing for a new legislative measure known as the "K-Steel Act" to support the domestic steel industry amid rising trade pressure from the United States' high tariffs and a flood of cheap Chinese imports. According to political sources on Friday, Rep. Eoh Ki-gu of the Democratic Party and Rep. Lee Sang-hwi of the People Power Party plan to introduce a bipartisan bill to protect domestic steel production on August 4. More than 100 lawmakers from both the ruling and opposition parties are backing the proposal. Key provisions in the bill include the establishment of a special committee to strengthen the steel industry's competitiveness, designation of green steel zones with regulatory exemptions, expansion of infrastructure and tax incentives, support for green steel technology development and industrial restructuring, and stronger safeguards against unfair trade practices and import surges. The legislative move comes as U.S. trade restrictions grow tighter. After imposing a 25 percent tariff on steel imports in March, the U.S. raised the rate to 50 percent in June. According to the Korea International Trade Association, the United States remains the largest export market for Korean steel, accounting for 6 trillion won (about $4.35 billion) out of Korea’s total steel exports of 46 trillion won (about $33.29 billion) in 2024. In company-specific terms, roughly 10 percent of POSCO’s total exports go to the U.S., along with about 33 percent for Hyundai Steel and 36.5 percent for Seah Steel. On July 30, the U.S. concluded trade talks with South Korea, announcing a reduction in auto tariffs to 15 percent while confirming that the 50 percent tariffs on steel would remain in place. U.S. Commerce Secretary Howard Lutnick wrote on his X (formerly Twitter) account, "Steel, aluminum, and copper are not included and remain unchanged." 2025-08-01 16:08:16

[[K-Tech]] S. Korea selects 8 ESS sites totaling 563MW to support renewable energy expansion SEOUL, August 01 (AJP) - South Korea's Ministry of Trade, Industry and Energy and the Korea Power Exchange on Thursday confirmed plans to deploy 563 megawatts (MW) of energy storage systems (ESS) nationwide, a move aligned with the government's long-term strategy to bolster renewable energy infrastructure. The announcement followed a bidding committee meeting held on July 31. The centralized bidding system, introduced in 2023, initially covered three pilot sites on Jeju Island with a combined capacity of 68MW. Developed to address increasing grid instability and reduce the curtailment of solar and wind energy, the platform opened its first full-scale nationwide round this year, offering 540MW for allocation—500MW on the mainland and 40MW for Jeju. A total of 51 project proposals were submitted. Eight were selected: seven located in South Jeolla Province with a total capacity of 523MW, and one in Jeju with 40MW, bringing the total to 563MW. Under South Korea’s 11th Basic Plan for Electricity Supply and Demand, the country is aiming for 2.22 gigawatts (GW) of ESS capacity by 2029. To put the scale into perspective, a 540MW facility, assuming a four-hour storage duration and an average daily consumption of 5 kilowatt-hours per household, could theoretically supply electricity to around 216,000 households for one day. Reaching the 2.22GW target would multiply that capacity nearly fourfold, reflecting the government's growing reliance on ESS to support its energy transition. Selected project developers are expected to secure power generation permits by January 2026, with installations scheduled for completion by the end of December 2026. A second round of bidding is expected to open in October to maintain momentum in meeting the government’s ESS targets. "Installing ESS near substations in the Honam region, where renewable generation is concentrated, will help stabilize the local grid," said Choi Yeon-woo, Director-General for Electricity Policy at the Ministry of Trade, Industry and Energy. "Until new transmission lines are built to fully resolve output restrictions, ESS will play a key role in easing solar curtailment and expanding renewable energy production and consumption." 2025-08-01 14:47:36

[[K-Tech]] S. Korea pushes AI adoption in manufacturing with new funding program SEOUL, July 31 (AJP) - South Korea's Ministry of Trade, Industry and Energy announced Wednesday it will launch a new initiative to promote AI adoption in the manufacturing sector, with applications for implementing agencies opening July 31. The project is part of the second supplementary budget for 2025. The program is designed to help manufacturers integrate and validate AI solutions on-site, speeding up digital transformation across the industry while also strengthening the capabilities of AI developers. Through the open call, the ministry plans to select six consortia, one per industry segment, focusing on sectors where AI implementation is seen as both urgent and likely to produce a broad impact. Each consortium will be led by a medium-sized manufacturing company, working in collaboration with AI providers, universities and research institutes, and regional support centers. Together, they will build a cooperative network centered on practical, field-based AI use in manufacturing. Manufacturers will provide access to industrial data and establish testing environments with the necessary systems and equipment. AI providers will collect and process the data securely, then fine-tune their existing AI solutions to fit the specific needs of each site before applying and validating them in the field. Sector-specific associations will oversee the creation of shared manufacturing datasets, excluding sensitive business information so they can be used across the industry. These groups will also help spread successful outcomes from the program more broadly to ensure wider industry uptake. To ensure active participation and reflect actual industry demand, the government will operate the program on a 50-50 matching basis, requiring manufacturers to cover half the cost of implementing AI solutions. Eligibility will be limited to medium-sized enterprises to amplify the program’s impact through vertical diffusion across the supply chain. "A small upfront investment from the government is expected to encourage voluntary industry participation and accelerate private AI investment, leading to faster and broader adoption throughout the manufacturing sector," said a ministry official. The application period runs from July 31 to September 1, with an information session scheduled for mid-August. The briefing will offer a platform for manufacturers and AI vendors to share successful cases, on-site experiences, and insights on practical implementation. Lee Seung-ryul, Director General for Industrial Policy, added, "We’ll continue to connect our various AI initiatives with special focus on ensuring the benefits reach all sectors and regions." 2025-07-31 13:42:23

[[K-Tech]] LG Energy Solution secures 5.94 trillion won LFP battery deal with Tesla SEOUL, July 31 (AJP) - LG Energy Solution announced Wednesday it has signed a 5.9442 trillion won (about $4.25 billion) supply contract for lithium iron phosphate (LFP) batteries, marking the company’s largest-ever energy storage system (ESS) order to date. The order represents 23.2 percent of LG Energy Solution’s 2023 revenue of 25.6 trillion won. The initial contract term spans three years starting August 1, with the possibility of extension to seven years based on customer negotiations, the company said in a regulatory filing. The agreement includes provisions for potential volume expansion depending on discussions with the customer. The company also added it could not disclose the client due to business confidentiality. The batteries are expected to be supplied to Tesla for use in its energy storage systems, according to industry specialists. Tesla previously stated during its first-quarter earnings call that it was seeking U.S.-based LFP battery suppliers due to tariff risks associated with China. Among South Korean battery makers, LG Energy Solution holds the broadest U.S. manufacturing footprint, with plants in Ohio, Tennessee, and Michigan. Based on an estimated $85 per cell, the deal is projected to amount to approximately 50 GWh of battery supply. The deal comes as U.S. tariffs on Chinese batteries intensify. Currently, imported Chinese ESS batteries face a combined tariff of 40.9 percent, including standard, retaliatory, and fentanyl-related penalties which is expected to rise to 58.4 percent next year. With prices for Chinese LFP battery cells expected to climb from around $73 last year to $87 in 2025, South Korean battery firms with local production bases are poised to benefit. Analysts estimate domestic LFP cell prices in the U.S. will range between $85 and $90, narrowing the cost gap with Chinese rivals. In March, LG Energy Solution signed a 4 GWh residential ESS battery deal with Delta Electronics, a global energy management firm with major clients including Tesla and Apple. The company said during its second-quarter earnings call that it aims to offset a slowdown in EV battery demand through growth in the ESS segment, projecting meaningful profit improvements in the second half of the year. 2025-07-31 13:34:05

[[K-Tech]] Hanwha Ocean to secure $254 million order for very large crude oil carriers SEOUL, July 29 (AJP) - Hanwha Ocean has secured a 353.6 billion won (approximately $254 million) order to build two Very Large Crude Carriers (VLCCs) for a shipowner based in the Oceania region, the company announced in a regulatory filing on Tuesday. The vessels will feature Hanwha Ocean’s proprietary fuel-saving technology designed to minimize carbon emissions, highlighting the company’s focus on eco-friendly shipbuilding solutions. With this latest deal, Hanwha Ocean’s cumulative order book for 2025 now totals 17 vessels. This includes earlier contracts for two LNG carriers, seven VLCCs, and six ultra-large container ships, amounting to approximately $3.07 billion (about 4.2 trillion won). According to Clarkson Research from the UK, Hanwha Ocean has built 198 of the 1,015 VLCCs currently in global operation, representing a market-leading 19.5 percent share. As of 2025, the company also holds the top spot for new VLCC orders, with 10 vessels secured year-to-date. 2025-07-30 14:18:46

IMF cuts Korea's 2025 growth outlook to 0.8 percent SEOUL, July 30 (AJP) - The International Monetary Fund (IMF) has downgraded South Korea's 2025 economic growth forecast to below 1 percent, amid rising global trade uncertainty driven in part by the United States-related tariff tensions. According to the Ministry of Economy and Finance on Tuesday, the IMF, in its July World Economic Outlook (WEO), lowered South Korea's growth projection by 0.2 percentage points from its previous estimate to 0.8 percent. This revision stands in contrast to the upward adjustments made for the global and advanced economies. The IMF expects the global economy to grow by 3.0 percent this year, up 0.2 percentage points from its earlier forecast. For advanced economies, which include 41 countries such as South Korea, the U.S., and Britain, the projection was raised by 0.1 percentage point to 1.5 percent. The IMF had initially forecast 2.0 percent growth for South Korea in its annual consultation report released in February, but sharply cut it to 1.0 percent in April and has now revised it downward again. The new estimate aligns with projections by the Bank of Korea, Korea Development Institute (KDI), and Asian Development Bank (ADB), but falls short of the OECD’s 1.0 percent forecast. The IMF did not include additional commentary on South Korea in the July report. However, Rahul Anand, head of the IMF Korea mission, stated that the latest downgrade was due to weaker-than-expected performance in the first half of the year, saying, "The subdued outcome was driven by domestic political and global trade uncertainty." For 2026, the IMF revised South Korea’s growth forecast upward by 0.4 percentage points to 1.8 percent, reflecting improving consumer and investment sentiment following two rounds of supplementary budgets and easing political tensions. Anand added, "We expect a gradual economic recovery to begin in the second half of this year and continue into next year." Regarding the broader global economy, the IMF warned of persistent downside risks stemming from uncertain trade policies, particularly those centered on the U.S. It stated, "The direction of trade policy developments will be a key determinant of global risk," and warned that "rising effective tariffs or failed trade negotiations could suppress corporate and trade-related investment, undermining growth momentum." 2025-07-30 13:53:34

[[K-Tech]] LG key wings' 2Q performance fall short of expectations SEOUL, July 30 (AJP) - LG Electronics, LG Display, and LG Innotek, the core electronics wings of South Korea’s LG Group, posted underwhelming second-quarter results, falling short of market expectations amid headwinds including U.S. tariffs, high logistics costs, and exchange rate fluctuations. However, industry analysts anticipate a rebound in the second half, aided by seasonal demand in the IT sector and a product cycle led by Apple. According to industry data released Tuesday, LG Electronics, the largest of the three, reported 20.7352 trillion won (approximately $14.93 billion) in revenue and 639.4 billion won (approximately $460 million) in operating profit for the second quarter. Revenue declined 4.4 percent year-on-year, while operating profit plunged 46.6 percent. The company cited weakening demand in key markets, heightened tariff burdens from shifting U.S. trade policy, and intensified global competition as overlapping challenges weighing on earnings. LG Display widened its operating loss to 116 billion won ($83.5 million) from 93.7 billion won ($67.5 million) a year earlier, with revenue falling nearly 20 percent over the same period. The company attributed the decline to lower mobile shipments and its strategic exit from the LCD TV business as it pivots toward OLED-centered operations. The depreciation of the U.S. dollar against the Korean won also negatively affected earnings. LG Innotek also underperformed significantly. Its second-quarter operating profit dropped 92.5 percent year-on-year to just 11.4 billion won ($8.2 million), well below market forecasts. Looking ahead, LG Electronics is expected to continue facing pressure in the second half, as tariffs on home appliances take full effect and macro uncertainties persist. In contrast, LG Display and LG Innotek may benefit from a rebound in IT demand as smartphone and other device launches pick up pace. An analyst at Shinhan Investment Corp. projected that LG Display’s mobile segment will grow 69.9 percent quarter-over-quarter in Q3, driven by ramped-up production capacity and improved technological competitiveness that is expected to translate into greater customer share. With Apple ramping up production of the iPhone 17 and new iPad Pro models from July, LG Display’s OLED market share is forecast to exceed 30 percent. Market research firm UBI Research stated, "The increase in OLED panel shipments for iPhones and iPads will drive a performance rebound," projecting Q3 shipments of 18.5 million iPhone panels, up nearly 70 percent from the previous quarter, and 1.6 million iPad panels, double the previous volume. LG Display is expected to see robust gains across its OLED business in the second half. "Achieving our full-year profitability goal is within reach," said Kim Sung-hyun, Chief Financial Officer at LG Display. LG Innotek, meanwhile, is eyeing a recovery in camera module demand fueled by Apple’s upcoming product launches. Growth is also expected from previously secured orders for high-value vehicle components such as telecom and lighting systems as well as steady demand for RF-SiP (Radio Frequency-System in Package) semiconductor substrates used in communications. 2025-07-30 13:44:34

[[K- Tech]] S. Korea's new geo-spatial AI system to undergo commercialization next month SEOUL, July 29 (AJP) - South Korea’s Ministry of Land, Infrastructure and Transport (MOLIT) on Tuesday announced the completion of its spatial intelligence system known as Geo-AI, a next-generation artificial intelligence technology designed to analyze and respond to queries using spatial information such as maps, locations, environments, and moving objects. The ministry will begin full-scale research and development (R&D) in August to prepare the technology for commercialization. Unlike traditional chatbot-style AI, Geo-AI incorporates spatial and temporal elements to deliver optimized responses. The technology enables users to interact through natural language queries such as, "Show me apartments under 300 million won near a subway station and within 100 meters of an elementary school." and receive results visualized on 3D maps. This is made possible through the system’s ability to interpret complex datasets including real-time traffic, infrastructure, and public records. Geo-AI is characterized by three major features: 3D map-based visual response, inference capabilities that understand spatial context and relationships, and integration of heterogeneous spatial datasets ranging from urban planning and transportation to climate and CCTV footage. The system is already being piloted by real estate startups, which are using mid-stage versions of the technology to automatically recommend property listings and connect users to AI-based brokerage services. In the safety domain, smart glasses embedded with Geo-AI allow construction workers to locate underground infrastructure via voice command in real-time. Additionally, autonomous mobile robots (AMRs) utilizing Geo-AI can calculate and follow optimal paths based on real-time obstacles and traffic data. Geo-AI will be accessible via internet-connected devices such as smartphones and navigation systems, without requiring additional software installation. A demonstration version is expected to be deployed through MOLIT’s V-World spatial data platform. Originally initiated in April 2022, the Geo-AI development project is scheduled to run through December 2027 with a total budget of 10.82 billion won (about $7.8 million). The initiative involves collaboration among four universities (Seoul National University, Yonsei University, Kunsan National University, and Korea National University of Transportation) and three private companies. According to MOLIT, the project aims to lay the foundation for an advanced public spatial information platform and foster innovation among spatial data startups. The ministry plans to enhance service features over the coming years, gradually shifting toward full-scale deployment and service integration by 2027. 2025-07-29 15:59:59

[[K-tech]] S. Korea to acquire 13,000 advanced GPUs for AI infrastructure SEOUL, July 29 (AJP) - South Korea's Ministry of Science and ICT has announced that it will procure 13,000 advanced graphics processing units (GPUs) using approximately 1.46 trillion won (about $1.05 billion) from a supplementary budget. The move is part of the country's broader strategy to rapidly expand domestic AI computing infrastructure. Tech giants Naver Cloud, NHN Cloud, and Kakao have been selected as the final operating partners. This initiative aims to ensure timely support for the academic, industrial, and research sectors amid growing demand for high-performance computing. Following the May budget allocation, the ministry conducted a rigorous month-long process that included public bidding, proposal evaluations, and on-site inspections before finalizing the three operators. The GPU procurement will focus on NVIDIA’s newest models, with 10,080 units of the Blackwell architecture-based B200 and 3,056 units of the Hopper architecture-based H200. Of these, more than 10,000 units, specifically 8,160 B200s and 2,296 H200s, will be deployed directly by the government to large-scale clusters to support domestic AI demands. The B200, based on NVIDIA’s latest Blackwell architecture, offers up to 2.25 times the performance of the H200 in FP8 (8-bit floating point) and Tensor Core operations, making it one of the most powerful AI chips currently available. NHN Cloud will handle the largest share, deploying 7,656 B200 units, all equipped with water-cooling systems to boost thermal efficiency. From this, 6,120 government-owned GPUs will be configured into clusters of 510 nodes (4,080 GPUs) and 255 nodes (2,040 GPUs). NHN expects to begin beta services within the year. Naver Cloud will be responsible for managing 3,056 H200 units, centered around the current-generation Hopper architecture. Of the government’s 2,296 allocated units, 2,040 will be deployed in 255-node clusters and 256 in 32-node clusters. The company aims to make these resources fully available for academic and research use by the end of the year. Kakao will deploy 2,424 B200 units, focusing on operational efficiency. The government’s 2,040 units will be arranged into a single 255-node cluster, with partial beta services also planned for launch this year. To ensure equitable and efficient usage, the ministry will establish a centralized GPU access system. Through this system, universities and research institutions can apply for GPU access online. Resource allocation will be based on proposal reviews, and idle resources will be redistributed to pending applicants in real time, maximizing nationwide utilization. Formal agreements with operators and GPU procurement are expected to begin in August. The full-scale service launch is targeted for later this year, with the infrastructure supporting major national initiatives such as sovereign AI foundation model development. "This advanced GPU acquisition will become the cornerstone of Korea’s AI innovation," said Minister Bae Kyung-hoon. "It marks the first step in building a national AI superhighway that enables our country to leap ahead as a global AI leader." 2025-07-29 10:12:52