Korea's Hanwha Aerospace signs $4 bn third-stage Chunmoo deal with Poland SEOUL, December 30 (AJP) -South Korean defense company Hanwha Aerospace has signed a third-stage contract for its multiple rocket launcher system with Poland’s arms procurement authority, enabling the European country to domestically produce guided rockets under a joint manufacturing framework. The 5.6 trillion won ($4 billion) agreement, covering 80-kilometer-range guided missiles, was signed Monday at the Warsaw Military Museum between Hanwha WB Advanced Systems — a joint venture between Hanwha Aerospace and Poland’s WB Electronics — and the Polish government. Senior officials and defense industry executives from both countries attended the ceremony. The joint venture, established in October, was created to localize production of the Chunmoo multiple rocket launcher system customized for Poland. Under the deal, Poland will acquire the capability to manufacture rockets domestically for its Homar-K system, a Polish variant of South Korea’s Chunmoo. Polish Defense Minister Władysław Marcin Kosiniak-Kamysz said the agreement turns “independence in rocket production into reality” and marks a turning point for Poland as it moves toward becoming a co-producer of advanced rocket systems rather than a simple buyer. “Homar-K is becoming a truly joint system,” he said, highlighting the strategic significance of technology transfer and local industrial participation. Chunmoo is South Korea’s home-grown multiple rocket launcher system capable of firing 12 rockets in under a minute from a single launcher. It has emerged as one of Korea’s most successful defense exports amid Europe’s push to expand artillery and missile capabilities following Russia’s invasion of Ukraine. The latest contract follows two earlier agreements signed between Seoul and Warsaw. The first, concluded in 2022, was dvalued at 5.0357 trillion won, while the second, signed last year, amounted to 2.2 trillion won. Together with the latest deal, total Chunmoo-related contracts with Poland now exceed 12.8 trillion won. President Lee Jae Myung’s chief of staff, Kang Hoon-sik, traveled to Warsaw to attend the signing ceremony, underscoring the deal’s diplomatic and strategic importance. Poland has become one of South Korea’s largest defense partners in Europe, purchasing a wide range of military equipment including K2 tanks, K9 self-propelled howitzers and FA-50 fighter jets, as Seoul positions itself as a major global arms supplier through co-production and long-term industrial partnerships. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-30 07:20:07

South Korea's LS Eco Energy to expand rare earth metals business in Vietnam SEOUL, December 17 (AJP) - LS Eco Energy said on Wednesday its board has approved an investment plan to expand its rare earth metals business in Vietnam, as the South Korean firm seeks long-term growth in strategic materials. The investment, valued at about 28.5 billion won ($21 million), will be funded in part through the sale of treasury shares. LS Eco Energy plans to raise approximately 10.7 billion won by selling 297,303 treasury shares to its largest shareholder, LS Cable & System, the company said. The move is aimed at building an integrated value chain spanning raw materials, rare earth oxides, and refined metals. Under the plan, rare earth oxides supplied by global mining companies will be processed into metals at LS Eco Energy’s facilities in Vietnam, with downstream applications including permanent magnets produced through LS Cable & System’s overseas operations. LS Eco Energy said it will install rare earth metal production facilities at its plant in Ho Chi Minh City, enabling the refinement of oxides into metals. The company is currently in talks with several global mining firms on raw material supply and potential joint ventures. Final investment may change depending on equity participation and project progress. Rare earth metals are a key input for permanent magnets used in electric vehicle motors, wind turbines, and robotics. The metallization process is technically complex and is currently commercialized primarily in China, Japan, and the United States. “This investment marks a shift from planning to actual production in the rare earth sector,” Chief Executive Lee Sang-ho said in a press release. “We aim to expand beyond our cable-centered business and position ourselves in strategic materials.” 2025-12-17 10:27:43

Samsung Electronics steps up B2B push with HVAC, displays, AI solutions SEOUL, December 16 (AJP) - Samsung Electronics is ramping up its push into the business-to-business market, expanding its air conditioning portfolio into industrial applications and broadening its presence in corporate displays and connected building solutions for enterprise clients. According to industry sources, Samsung has reinforced its Air Solution team within the Digital Appliances division as it shifts focus from consumer-oriented air conditioners to industrial, infrastructure and large-scale commercial systems. The move comes as demand for heating, ventilation and air conditioning (HVAC) systems is expected to surge with the expansion of artificial intelligence data centers, which require advanced cooling technologies. Global Market Insights forecasts the global HVAC market will grow from $31.06 billion in 2024 to $54.54 billion by 2034. Last month, Samsung acquired FlaktGroup, Germany’s largest HVAC specialist, for 1.5 billion euros ($2.4 billion), securing advanced industrial cooling expertise. FlaktGroup supplies HVAC systems to data centres, hospitals and large commercial facilities across Europe and other regions. Samsung aims to use FlaktGroup’s technologies alongside its own AI-based building control platform to strengthen its offering of customized cooling solutions for data centers and other corporate clients, industry officials said. The company is also reviewing plans to integrate FlaktGroup’s technologies into its domestic manufacturing operations, potentially at its Gwangju plant, a major hub for Samsung’s home appliance production. Beyond HVAC, Samsung is expanding its footprint in the corporate display market, where it has gained traction in specialized segments requiring ultra-high-definition and large-format LED displays. Last month, Samsung supplied around 6,000 televisions and smart signage units to Royal Caribbean Cruises’ Star of the Seas, billed as the world’s largest cruise ship. In 2023, the company installed hotel televisions and its micro LED display product, The Wall, at the Hilton Waikiki in Hawaii, and delivered commercial displays to major hotels including Kempinski in Bali and Marina Bay Sands in Singapore. Industry analysts note that corporate displays typically command higher margins than consumer products, as they rely on advanced technologies and customised installations, helping offset the slowing growth of the mature consumer electronics market. Samsung’s broader B2B expansion is expected to accelerate as consumer demand stagnates and enterprises increasingly seek integrated solutions combining AI and internet-of-things technologies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 10:34:12

South Korea's LS Cable considers Virginia site for rare earth magnet factory SEOUL, December 15 (AJP) - South Korea's LS Cable said Monday it is considering building a rare earth permanent magnet factory in the United States. The company is currently reviewing Chesapeake, Virginia, as a potential site for the investment and is in talks with state authorities. Rare earth permanent magnets are critical components in advanced industries, including electric vehicles, wind turbines and defense systems such as fighter jets. China accounts for about 85 percent of global production, while manufacturing capacity in the United States remains limited, making supply chain diversification a growing priority. The proposed factory would likely be located near LS Cable’s submarine cable plant currently under construction in the United States, according to the company. The facility would aim to supply major automotive and electronics manufacturers. “If realized, this project would expand our business from cables into strategic materials and strengthen our position in the global mobility supply chain,” an LS Cable spokesman said. LS Cable is seeking to build an integrated value chain covering rare earth oxide procurement, metalization and magnet production. Through its subsidiary LS Eco Energy, the company is securing supplies of refined rare earth oxides from Vietnam and Australia, it said. The company is also considering producing high-grade copper materials in the United States. With existing supply ties to automakers such as General Motors and Hyundai Motor, LS Cable said the addition of rare earth magnet production could enhance its competitiveness in key mobility-related materials. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 09:53:45

South Korea expected to top $700 billion in exports for first time: KITA SEOUL, December 05 (AJP) - South Korea’s exports are on track to surpass $700 billion for the first time this year, with momentum expected to continue into 2026, the Korea International Trade Association (KITA) said on Friday. KITA forecasts exports will climb 3 percent from last year to $704 billion, while imports are projected to edge down 0.3 percent to $630 billion, producing a $74 billion trade surplus. The report cites strong performances in semiconductors and shipbuilding as the main drivers of the record export tally. Demand for AI-related chips, including high-bandwidth memory, has surged amid tight production capacity, pushing up prices. Ship exports are expected to jump more than 22 percent as deliveries accelerate for high-value vessels such as LNG carriers ordered in 2022 and 2023. Automobile exports have been dented by higher U.S. tariffs, but diversification into other markets — including the European Union — has helped stabilize shipments. Exports to the United States rebounded 13.7 percent in November following expectations of tariff easing in recent U.S.–Korea discussions. By contrast, steel and petroleum product exports continue to lag, weighed down by elevated tariffs and falling oil prices. For 2026, KITA projects exports will rise a further 1 percent to $711 billion, with imports increasing 0.5 percent to $633 billion, maintaining a trade surplus of around $78 billion. Growth is expected to be led by IT products, notably semiconductors and solid-state drives (SSDs). Semiconductor exports are forecast to expand 5.9 percent, supported by AI-driven demand, while SSD shipments could grow 10.4 percent amid rising global storage needs. “AI-related demand will remain a key engine for semiconductor and IT exports next year,” said Jang Sang-sik, head of KITA’s research institute. “But with global trade growth still limited and uncertainties such as the U.S. midterm elections ahead, Korea must diversify export markets to the Middle East and ASEAN and expand exports of K-content and consumer goods.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-05 09:49:32

South Korea's LS Electric to co-develop power systems for UK data centers SEOUL, October 30 (AJP) - South Korea’s LS Electric is accelerating its push into the global data center market, forming new international partnerships to strengthen its foothold in advanced power infrastructure. The company said on Thursday that it had signed a memorandum of understanding with Elecsis, a British manufacturer of low-voltage switchboards, to co-develop power systems tailored for data centers in the United Kingdom. Founded in 2001 and based in Bristol, Elecsis specializes in the design and production of low-voltage switchboards, which are critical for managing electricity in large-scale facilities. The collaboration will combine LS Electric’s expertise in power equipment and testing with the British firm's local engineering and manufacturing capabilities to develop high-capacity, safety-focused switchboard solutions. By partnering with Elecsis, LS Electric aims to tap into Europe’s fast-growing data infrastructure market, using local production and service networks to deliver customized power solutions for clients across the region. The agreement follows a similar partnership earlier this month with Honeywell in the United States to jointly develop next-generation power management systems for North American data centers. The U.K. data center market, projected to reach $15.2 billion this year and expand at an annual rate of more than 13 percent through 2030, has become a major target for infrastructure and technology companies racing to meet the surging power demands of artificial intelligence and cloud computing. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-30 14:15:21

Hanmi Semiconductor chairman increases stake in sign of confidence SEOUL, October 29 (AJP) - Hanmi Semiconductor said Wednesday that its chairman, Kwak Dong-shin, will buy 5 billion won (about $3.7 million) worth of company shares using his own funds. The purchase, expected to be completed by Nov. 26, will bring Kwak’s total personal investment in Hanmi shares since 2023 to 47.3 billion won, raising his stake from 33.47 percent to 33.50 percent. Hanmi Semiconductor is a global leader in TC bonder equipment — technology critical to the production of high-bandwidth memory, or HBM, a component increasingly vital to artificial intelligence chips. The company has focused heavily on intellectual property since 2002, filing more than 120 patents related to HBM manufacturing tools. Analysts say that confidence in Hanmi’s technological edge likely underpins Kwak’s decision to expand his holdings. Founded in 1980, Hanmi Semiconductor supplies roughly 320 clients worldwide. The company recently established a subsidiary, Hanmi Singapore, in the Woodlands district to provide enhanced local support for Micron Technology and other customers in Southeast Asia. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 14:15:10

South Korea's LS Buildwin wins high-voltage power project in Singapore SEOUL, October 24 (AJP) - South Korea's LS Marine Solutions said on Friday that its subsidiary, LS Buildwin, has been awarded a contract worth about $60 million to build a high-voltage underground power network in Singapore. The project, undertaken in partnership with LS Cable, will involve the construction of a 230-kilovolt underground power network designed to strengthen Singapore’s national grid amid surging electricity demand from artificial intelligence and data centers. LS Buildwin will handle the cable installation, while LS Cable will supply the cables. Under the arrangement, LS Marine Solutions will oversee the submarine cable work, creating what the company described as an integrated “manufacturing-to-construction” value chain that enhances its global competitiveness. The new contract adds to a growing order book for LS Marine Solutions, which now totals about $525 million — roughly five times its revenue from a year earlier — as the company wins major power infrastructure projects across Asia, including in Singapore and Taiwan. “As the only domestic specialist in both submarine and underground cable installation, LS Marine Solutions is reinforcing its construction capabilities through collaboration with LS Cable,” a company spokesperson said. “We aim to drive technology-based growth in the global market.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 13:52:33

S&P upgrades LG Electronics' credit outlook, citing India IPO SEOUL, October 22 (AJP) - Standard & Poor’s on Tuesday upgraded LG Electronics’ credit outlook to “BBB Positive” from “BBB Stable,” the company’s first improvement since October 2022. The ratings agency cited robust performances in LG’s home appliance and vehicle component businesses, stronger cash flow from its Indian initial public offering, and a rebound at its affiliate, LG Display. The move came months after Moody’s raised LG’s outlook to “Baa2 Positive" early this year. S&P’s revision signals expectations of financial improvement over the next one to two years, in contrast to the prior “Stable” rating that suggested steady but unremarkable conditions. “Despite U.S. tariff hikes, LG’s core businesses continue to show solid results,” S&P said in a statement, highlighting “a major cash influx from the India IPO and a turnaround at LG Display, where LG holds a 36.72 percent stake.” LG’s home appliance division has maintained its strong market position amid global economic uncertainty, while the company’s air conditioner business is expanding on demand for cooling systems used in data centers. Meanwhile, the vehicle component business continues to improve profitability, supported by a $100 billion order backlog and a more favorable mix of contracts. S&P said it expects LG Display’s recovery to further strengthen LG Electronics’ financial profile, as the company recognizes those gains through the equity method. According to LG, the India IPO will generate more than 1.8 trillion won ($1.3 billion), providing additional funds for debt reduction. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-22 08:16:13

Battery materials plant opens in Saemangeum complex SEOUL, October 01 (AJP) - LS-L&F Battery Solution, a joint venture between LS Corp. and battery materials maker L&F, inaugurated a precursor plant on Tuesday in the Saemangeum National Industrial Complex in Gunsan, North Jeolla Province. The 1 trillion won ($730 million) facility, spanning about 40,000 square meters, is expected to employ roughly 1,000 people, underscoring the government’s efforts to strengthen domestic supply chains in the fast-growing battery sector. The opening ceremony was attended by senior executives from LS Group and L&F, along with regional officials including North Jeolla Governor Kim Kwan-young. “This plant will be a key hub for K-battery materials, reducing reliance on China and accelerating our path to global leadership,” said LS Group Chairman Koo Ja-eun, noting that China currently controls about 80 percent of the global precursor market. The plant began trial operations in April and aims to gradually scale up production to 120,000 tons of precursor by 2029, a volume sufficient for about 1.3 million electric vehicles. LS-L&F Battery Solution was formed in October 2023 as part of LS Group’s push beyond its traditional businesses in electricity and materials into growth areas such as batteries, electric vehicles, and semiconductors. The expansion is supported by LS MnM, the group’s non-ferrous metal unit, which plans to invest 1.8 trillion won in new plants in Ulsan and Saemangeum by 2029 to produce nickel sulfate, a critical raw material for precursors. That output will feed into LLBS, which will then supply L&F for cathode manufacturing, creating what the company describes as a fully domestic battery materials value chain. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 13:55:32