Journalist

김동영
Kim Dong-young
  • LG Energy Solution posts second straight loss, bets on ESS pivot
    LG Energy Solution posts second straight loss, bets on ESS pivot SEOUL, April 30 (AJP) - LG Energy Solution reported its second consecutive quarterly operating loss in the first three months of 2026, hit by shrinking U.S. battery subsidies and weak electric vehicle demand. The nation's largest battery maker posted a consolidated operating loss of 207.8 billion won ($139.7 million) for the January to March period, reversing an operating profit of 374.7 billion won a year earlier, according to a regulatory filing on Thursday. Revenue slipped 2.5 percent year-on-year to 6.555 trillion won, while net losses ballooned to 944 billion won. Experts say the deterioration stemmed largely from a steep drop in the subsidies cut under Washington's Inflation Reduction Act, which fell to 189.8 billion won — just 41.5 percent of the 457.7 billion won booked a year ago. Ramp-up costs at five newly expanded North American ESS production sites and reduced pouch-type EV battery shipments to a major customer compounded the drag. Despite the red ink, LG Energy Solution laid out an aggressive blueprint to reshape its revenue mix around energy storage. The company said it would raise the share of ESS in total sales from about 25 percent in the first half to 35 percent by year-end, up from below 10 percent in 2025. "We secured an ESS order backlog of about 440 gigawatts in North America as of the end of April, and aim to build more than 50 gigawatts of ESS battery production capacity in the region by year-end," LG CNS CFO Lee Chang-sil said during an earnings conference call. To meet surging demand from power grid operators and AI data center developers, the company plans to convert multiple EV battery lines to ESS output at plants in Michigan, Ontario, Lansing and joint ventures with Honda and General Motors. The CFO projected second-quarter results would improve by about 10 percent from the first quarter on robust North American ESS demand and healthy appetite for high-nickel EV and hybrid batteries in Europe. Lee forecasted revenue growth of 15 to 20 percent in the second half relative to the start of the year, adding that the company aims to turn a profit without relying on U.S. production subsidies over the longer term. 2026-04-30 12:21:59
  • LG CNS Q1 operating profit surges 19 pct on AI, cloud growth
    LG CNS Q1 operating profit surges 19 pct on AI, cloud growth SEOUL, April 30 (AJP) - South Korean IT services firm LG CNS posted first-quarter operating profit of 94.2 billion won ($63.4 million), up 19.4 percent from a year earlier, as surging demand for artificial intelligence and cloud services fueled growth across its business lines. According to regulatory filing released Thursday, revenue for the January to March period climbed 8.6 percent on-year to 1.315 trillion won, with the company's AI and cloud division accounting for about 58 percent of the total at 765.4 billion won. The segment grew 6.7 percent year-on-year, buoyed by the expansion of agentic AI-based multi-agent services into defense, finance, manufacturing and biopharmaceuticals. Net profit jumped 41.2 percent to 80.9 billion won, while the operating margin widened 0.7 percentage points to 7.2 percent. "Despite heightened global uncertainty stemming from U.S.-Iran geopolitical risks, energy price volatility and swings in interest rates and exchange rates, LG CNS expanded its external business on the back of solid technology and execution capabilities," said CFO Song Kwang-ryun said during an earnings call. Its digital business services division recorded revenue of 321.9 billion won, a 11.9 percent year-on-year rise driven by next-generation IT system buildouts for major financial institutions including NH NongHyup Bank and Shinhan Investment. The smart engineering segment also gained 10.4 percent to 227.8 billion won on the back of factory automation and logistics projects. The company is also betting on physical AI, investing in U.S. robotics firm Dexmate to build a lineup spanning bipedal humanoids, quadrupeds and wheeled robots, and plans to publicly launch a proprietary robot training platform next month. Its first overseas AI data center in Indonesia is slated for completion by year-end. LG CNS has moved to ride the broader AI boom by forging partnerships with global heavyweights such as OpenAI and Palantir, supplying ChatGPT Enterprise to about 10 corporate clients since February while co-developing high-value AI projects through a joint engineering team with the U.S. data analytics firm. Shares of LG CNS traded at 66,000 per stock at 10:00 a.m., 1.05 percent lower than the day before. 2026-04-30 10:03:23
  • Naver posts 16% revenue jump as AI-driven growth accelerates in Q1
    Naver posts 16% revenue jump as AI-driven growth accelerates in Q1 SEOUL, April 30 (AJP) - Naver reported a 16.3 percent rise in first-quarter revenue, buoyed by robust demand for AI-integrated services and a sharp uptick in its consumer-to-consumer commerce business. The company reported through regulatory filings Thursday that consolidated revenue for the January to March period climbed to 3.24 trillion won ($2.17 billion), while operating profit edged up 7.2 percent to 541.8 billion won, as heavier infrastructure spending to bolster AI capabilities tempered bottom-line gains. Naver's platform segment, the company's bread-and-butter search and commerce engine, generated 1.84 trillion won in revenue, up 14.7 percent from a year earlier. Advertising revenue grew 9.3 percent, with the company noting that AI now accounts for more than half of its ad revenue growth through enhanced targeting tools. Service revenue, driven by Naver Plus Store, its membership program and proprietary logistics network, surged 35.6 percent. Its financial arm also gained momentum, with Npay transaction volume climbing 23.4 percent year-on-year to 24.2 trillion won, as the platform expanded its presence in offline payments through the Npay Connect terminal. The standout performer was the global ventures division, where revenue jumped 18.4 percent to 941.6 billion won, powered by a 57.7 percent spike in C2C revenue following the full consolidation of Spanish marketplace Wallapop and steady growth at Poshmark, Kream and Soda. Enterprise revenue, bolstered by AI, digital twin and Line Works-related projects, rose 18.8 percent. "Naver is a uniquely positioned platform that integrates search, commerce and payments into a single pipeline — the core competitive edge of the AI agent era," Naver CEO Choi Soo-yeon said, adding that the company would pursue its "action-oriented AI" strategy to build a virtuous cycle of user satisfaction and monetization while accelerating global expansion through C2C and sovereign AI offerings. The results come as Naver deepens its AI pivot on multiple fronts. In March, CEO Choi held a high-profile meeting with AMD chief Lisa Su at Naver's headquarters to explore collaboration in AI data center infrastructure, signing a memorandum of understanding to jointly develop next-generation GPU infrastructure aimed at expanding their artificial intelligence ecosystems. Earlier this month, Naver signed a strategic partnership with India's Tata Consultancy Services to jointly develop AI and cloud services, and co-launched a 1 trillion won targeting investment fund with Krafton and Mirae Asset to back AI and fintech startups in India. Shares of Naver opened at 222,000 won per stock, 0.91 percent higher than the day before. 2026-04-30 09:00:59
  • Four Korean pharma, bio bodies forge one team to accelerate global push
    Four Korean pharma, bio bodies forge 'one team' to accelerate global push SEOUL, April 29 (AJP) - Four of South Korea's leading pharmaceutical and biotechnology organizations signed a memorandum of understanding to consolidate their fragmented overseas-support programs under a single coordinated framework, dubbed the "K-Pharma Bio One Team." The Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA), the Korea Health Industry Development Institute, the Korea Biotechnology Industry Organization and the Korea Trade-Investment Promotion Agency inked the agreement at COEX in Seoul Wednesday, establishing a joint support structure for domestic firms seeking to expand abroad. Under the MOU, the four bodies will pool resources to conduct shared market analysis, identify and resolve export bottlenecks, gather overseas market intelligence, and coordinate marketing efforts at international trade events — replacing what had previously been a patchwork of institution-by-institution programs. The alliance plans to kick off operations in earnest at BIO International Convention, set for June in San Diego, California. More than 250 South Korean companies are expected to attend the event this year, making Korea the second-largest national contingent after the United States. The four organizations will jointly support Korean exhibitors at BIO USA and co-host a consolidated "Korea Night" reception expected to draw more than 600 industry officials, investors and potential partners. "This MOU marks a significant step forward in upgrading the support framework for the global expansion of Korea's pharmaceutical and biotech industry," said KPBMA president Noh Yun-hong, adding that the alliance would work to sharpen corporate competitiveness and raise the sector's international profile. 2026-04-29 15:12:41
  • Hanwha Solutions swings to profit in Q1 on solar gains, chemical recovery
    Hanwha Solutions swings to profit in Q1 on solar gains, chemical recovery SEOUL, April 28 (AJP) - Hanwha Solutions posted a sharp earnings recovery in the first quarter of 2026, with operating profit surging more than threefold as its solar and chemical units both returned to the black amid easing U.S. trade headwinds and internal restructuring efforts. The South Korean conglomerate reported Tuesday through regulatory filings consolidated revenue of 3.88 trillion won ($2.63 billion) for the January to March period, up 25.4 percent from a year earlier, while operating profit climbed 205.5% year-on-year to 92.6 billion won — marking its first profitable quarter since the second quarter of 2025. The renewable energy division, operating under the Qcells division, led the charge with revenue of 2.111 trillion won and operating profit of 62.2 billion won. The unit logged its second consecutive quarter above the 2-trillion-won revenue threshold, even during a traditionally slow season, as U.S. factory output normalized following the resolution of a customs clearance backlog on cell shipments that had weighed on output late last year. The chemicals division returned to profit for the first time in about two and a half years, posting revenue of 1.340 trillion won and operating profit of 34.1 billion won. The unit shed loss-making businesses, streamlined production lines, and expanded sales of high-margin products such as ultra-high-voltage cable materials. "We expect performance to improve steadily through year-end, and anticipate that the Cartersville plant's cell line will enter mass production from the third quarter, driving solid earnings momentum in the renewable energy division," co-CEOs Park Seung-deok and Nam Jung-woon said in a statement. Shares of Hanwha Solution ended at 50,800 won per stock, 1.2 percent higher than a day ago. 2026-04-28 18:08:49
  • Jipyeong Soju expands offline retail reach with Lotte Mart listing
    Jipyeong Soju expands offline retail reach with Lotte Mart listing SEOUL, April 28 (AJP) - Jipyeong announced that its premium distilled spirit Jipyeong Soju has secured shelf space at Lotte Mart, expanding its offline retail footprint after an earlier listing at E-Mart. Unlike conventional rice-distilled spirits, the company explained that Jipyeong Soju blends three grains — rice, barley and sorghum — in what is described as an optimized ratio, yielding a layered flavor profile that balances the spice of sorghum, the nuttiness of barley and the clean finish of rice. The product has drawn strong interest among younger consumers, the company said, particularly for use in highballs — a cocktail format gaining traction in South Korea. "Through our entry into Lotte Mart, more consumers will be able to experience the depth of flavor that sets Jipy eong Soju apart," said a company spokesperson, adding that the brand aims to establish itself as one of the top three players in the domestic premium distilled spirits segment. 2026-04-28 12:01:05
  • Samsung SDI narrows Q1 loss, eyes profit turnaround in H2
    Samsung SDI narrows Q1 loss, eyes profit turnaround in H2 SEOUL, April 28 (AJP) - Samsung SDI reported an operating loss of 155.6 billion won ($105.5 million) for the first quarter of 2026, sharply narrowing its deficit from 434.1 billion won a year earlier. The South Korean battery maker disclosed Tuesday in a regulatory filing that revenue climbed 12.6 percent year-on-year to 3.576 trillion won, while net profit swung to a positive 56.1 billion won. The battery segment, which accounts for the bulk of revenue at 3.354 trillion won, cut its operating loss by 61 percent as demand recovered across energy storage systems, power tools and battery backup units. The electronics materials unit posted an operating profit of 21 billion won on revenue of 222 billion won, buoyed by resilient semiconductor materials sales and a rebound in display materials demand. Samsung SDI said it secured a multi-year supply agreement with Mercedes-Benz during the quarter, completing its lineup of all three major German premium automakers as clients. The company also unveiled its first pouch-type all-solid-state battery sample developed for physical AI applications. "Uncertainty in the global business environment is expected to persist into the second quarter," said a Samsung SDI spokesperson. "We will execute our response strategies by segment and work to achieve a quarterly profit turnaround in the second half." The company said it expects upstream demand to continue recovering through the rest of the year, with ESS battery sales in the United States set to expand alongside growth in AI data center construction, while European EV demand is projected to improve on the back of broader subsidy programs. Shares of Samsung SDI traded at 688,000 won per stock on 11:40 a.m., 8.35 percent higher than a day ago. 2026-04-28 11:44:12
  • Korea Zincs Tennessee smelter gains a rare fast-track federal greenlight
    Korea Zinc's Tennessee smelter gains a rare fast-track federal greenlight SEOUL, April 27 (AJP) - Korea Zinc's $7.4 billion Tennessee smelter - largely funded by Washington - has been fast-tracked to expedite the first zinc refinery project in the United States since the 1970s. The company said Project Crucible, its planned non-ferrous metals complex in Clarksville, has been designated a covered project under FAST-41, a Washington program run by the Federal Permitting Improvement Steering Council (Permitting Council) that consolidates federal permitting reviews for major infrastructure and resource developments. "I am proud to welcome Project Crucible to FAST-41 coverage," said Emily Domenech, Permitting Council Executive Director on April 24. "As we continue to prioritize domestic mining, expanding domestic processing capacity is just as important for economic and national security." FAST-41 consolidates multi-agency reviews under a single schedule, typically shortening the path to a final decision by about 18 months. The designation follows a memorandum of understanding signed in February between the U.S. Department of the Interior and Tennessee to streamline permitting. Korea Zinc said the federal and state review tracks will now proceed in parallel. Only a handful of critical mineral projects have received such status, including South32’s Hermosa project in Arizona and Resolution Minerals’ Antimony Ridge in Alaska. Project Crucible stands out for its scale and scope. The planned complex in Clarksville will produce 13 non-ferrous metals — including 11 designated as critical by the U.S. — along with semiconductor-grade sulfuric acid. “This designation marks a key milestone in building a resilient critical minerals supply chain,” said Chairman Choi Yun-birm, adding the company will work closely with federal and state authorities. Korea Zinc recently acquired Nyrstar USA’s smelting assets to establish its local operating arm, Crucible Zinc. Construction is slated to begin in 2027, with operations targeted for 2029 and annual capacity of about 1.1 million tonnes. The project directly addresses a long-standing gap in U.S. metals processing capacity, which has eroded over decades amid refinery closures and a lack of new investment, leaving the country reliant on overseas — particularly Chinese — processing. Once completed, the roughly 7 million-square-foot facility will produce key inputs such as antimony, copper, gallium, germanium, indium, lead and zinc, alongside gold and high-purity sulfuric acid. The inclusion of gallium, germanium and indium positions the project at the core of semiconductor and advanced electronics supply chains, where processing remains heavily concentrated abroad. It also targets vulnerabilities exposed by recent disruptions in the Strait of Hormuz, a chokepoint for roughly half of global sulfur supply. By integrating sulfuric acid production domestically, the project aims to reduce exposure to geopolitical risks tied to Middle East-dependent supply chains. Shares of Korea Zinc on Monday edged up 0.43 percent to 1,649,000 ($1,121) won as of 2:20 p.m. Seoul. 2026-04-27 14:23:09
  • CJ CheilJedang deepens Vietnam retail partnership to boost K-food reach
    CJ CheilJedang deepens Vietnam retail partnership to boost K-food reach SEOUL, April 27 (AJP) - CJ CheilJedang is deepening its foothold in Vietnam's fast-growing processed food market through an expanded partnership with Bach Hoa Xanh, the country's largest supermarket chain. The company announced Monday it signed a memorandum of understanding with Bach Hoa Xanh, a subsidiary of Vietnam's largest retail group MWG, on April 23 in Hanoi to jointly develop processed food products, bolster cold-chain infrastructure and broaden consumer reach for its Bibigo brand across Vietnam. The signing ceremony, held alongside the Korea-Vietnam Business Forum, was attended by CJ CheilJedang's Asia-Pacific food division head Cho Jae-bom and MWG Chairman Nguyen Duc Tai, with trade ministers from both countries present. Under the agreement, the two companies will co-develop products tailored to Vietnamese consumption trends, invest in refrigerated and frozen logistics to strengthen food safety standards, and launch joint promotions including K-food festivals and a dedicated "CJ Zone" within Bach Hoa Xanh's mobile application. "The partnership with Bach Hoa Xanh, which is driving innovation in Vietnam's retail market, will serve as an important springboard for Bibigo to become a household brand in Vietnam," said a CJ CheilJedang spokesperson. 2026-04-27 09:29:35
  • Hyundai Steel swings to Q1 operating profit on higher sales volume
    Hyundai Steel swings to Q1 operating profit on higher sales volume SEOUL, April 24 (AJP) - Hyundai Steel returned to the black in the first quarter of 2026, posting an operating profit of 15.7 billion won ($10.5 million) as rising sales volumes offset persistent cost pressures. The company reported consolidated revenue of 5.74 trillion won for the January to March period on Friday, up 3.2 percent from a year ago, buoyed by stronger product shipments. Operating profit, however, slid 63.7 percent quarter-on-quarter as exchange rate headwinds and elevated raw material costs weighed heavily on margins. Hyundai Steel said the surge in debt and its leverage ratio reflected capital injections into its U.S. steelworks and other growth-oriented expenditures, describing the increase as temporary. The company projected a gradual recovery in profitability from the second quarter onward, citing an expected easing in cheap import inflows and planned price increases for key products. "We will pre-empt new demand in the power infrastructure industry and actively respond to carbon-reduced steel demand through our combined electric arc and blast furnace process to achieve a recovery in profitability," said a Hyundai Steel Spokesperson. Shares of Hyundai steel traded at 42,100 won per stock on 3:00 p.m., 2.06 percent higher than a day ago. 2026-04-24 15:04:24