Journalist
SHIN JIA
fromjia@ajunews.com
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South Korea Gasoline Prices Near 2,000 Won as Middle East Tensions Lift Oil The war involving the United States, Israel and Iran is showing signs of dragging on, sending international oil prices sharply higher. South Korea’s pump prices are also climbing, raising fears of a repeat of 2022, when gasoline rose above 2,000 won per liter amid fallout from the Russia-Ukraine war. According to the Korea National Oil Corp.’s Opinet price information system, the nationwide average gasoline price stood at 1,894.86 won per liter as of 1 p.m. on March 8, up 5.46 won from the previous day. Diesel averaged 1,917.34 won per liter, up 6.79 won. Consumers say the increase feels steeper on the ground. While the government has signaled a willingness to intervene strongly — including mentioning a review of setting a maximum price — price gains have only slowed somewhat, and some stations across the country are already posting gasoline and diesel prices in the 2,000-won range. Seoul recorded the highest averages nationwide, with gasoline at 1,945 won per liter and diesel at 1,968 won. Markets are also bracing for further increases in global crude prices. Goldman Sachs said international oil could top $100 a barrel if tensions in the Middle East do not ease. If disruptions to traffic through the Strait of Hormuz persist, it warned, supply concerns could intensify and add to upward pressure on prices. Goldman Sachs said that if a blockade of the strait continues, it cannot rule out Brent crude rising above $147 a barrel, as in past spikes in 2008 and 2022. Analysts say if oil moves above $100, South Korea’s gasoline prices would likely break through the 2,000-won threshold. As cost pressures mount, the industry says it is preparing a response. Three petroleum groups — the Korea Petroleum Association, the Korea Petroleum Distribution Association and the Korea Gas Station Association — said they would actively cooperate so that international oil price increases are not reflected too abruptly at domestic gas stations. Still, the government and consumers appear skeptical of the pledge. A delivery driver said, “If I make about 30 deliveries a day, I earn around 25,000 won, but after various costs I actually take home only about 10,000 won,” adding, “With fuel prices rising too, it feels like my insides burn every time I fill up.” Lee Eun-hee, a professor of consumer science at Inha University, said South Korea has sizable crude stockpiles, meaning there is no need to raise domestic fuel prices sharply right away even if global prices rise. “But recently the pace of increases has been excessively fast,” she said, adding that commercial drivers such as delivery workers face an unavoidable burden and that policy support such as energy vouchers should be considered.* This article has been translated by AI. 2026-03-08 18:03:38 -
SK On to Unveil CTP Integrated Pack Solutions With SK Enmove Immersion Cooling at InterBattery 2026 SK On said Sunday it will showcase a range of “CTP integrated package solutions” at InterBattery 2026, which runs for three days starting March 11, combining its cell-to-pack (CTP) technology with immersion-cooling fluid technology from SK Enmove, an in-house independent company. The move reflects SK On’s plan to expand its product portfolio from supplying cells and modules to offering battery packs. Under the theme “Unlock the Next Energy,” SK On will operate an exhibition booth featuring future technologies across three zones: Leading Tech, Core Tech and Future Tech. In the Core Tech zone, which integrates the company’s key technologies, SK On will present three CTP package types — pouch CTP, a pouch-integrated prismatic pack, and large-area cooling CTP — along with one CMP (cell-module-pack) package solution. The “pouch CTP,” targeted for commercial production in 2027, removes modules and integrates cells directly into the pack. SK On said it increases energy density while lowering manufacturing costs compared with existing systems. It also applies heat-transfer blocking technology to help prevent a problem in one cell from spreading to adjacent cells, improving safety. The “pouch-integrated prismatic pack,” planned for commercial production in 2028, directly encloses mid-nickel pouch cells in a rigid aluminum prismatic case. By eliminating modules, it reduces parts and processes while improving protection against external impacts, the company said. The “large-area cooling CTP” directly bonds an aluminum cooling plate across the broad surfaces where pouch cells contact each other, reducing the need for insulation while maximizing thermal management efficiency. SK On said it boosts cooling performance by up to three times compared with existing designs. Product verification at the battery-module level was completed last year, and commercial production is being pursued for 2028. SK On is also introducing its CMP package solution, a cell-module-pack structure widely used in applications including electric vehicles and energy storage systems. In the Future Tech zone, SK On displayed a model of an immersion-cooled battery pack that incorporates immersion-cooling fluid technology being jointly developed with SK Enmove. Two versions were shown, based on pouch CTP and CMP. SK On applied the “immersion-cooled pack” to a vehicle underbody model and visually demonstrated a small immersion-cooling module submerged in cooling fluid to make the concept easier to understand. Immersion cooling circulates an insulating fluid directly inside the pack to keep battery temperatures stable. SK On said the approach can help maintain cell performance and lifespan even in extremely cold or hot external conditions. “Through this exhibition, we are unveiling SK On’s own CTP integrated package solutions for the first time,” an SK On official said. The official added that the company plans to continue expanding its battery product portfolio by building technology synergies with SK Enmove, including immersion cooling.* This article has been translated by AI. 2026-03-08 15:33:20 -
Doosan Chairman Park Jeongwon touts AI to lead future of construction equipment Doosan said Sunday that Chairman Park Jeongwon visited CONEXPO 2026, North America’s largest construction equipment exhibition, held in Las Vegas through Friday, continuing his on-site management push. CONEXPO 2026, held March 3-7 (local time) under the theme “Breaking New Ground,” highlighted AI-based automation and autonomy, electrified equipment and connected data solutions as key technologies for smarter job sites. Doosan Bobcat set up an exhibit in the West Hall of the Las Vegas Convention Center, showcasing about 30 advanced products including compact loaders and excavators featuring AI, electrification and autonomous technologies. It also unveiled a branding strategy that splits its core compact loader lineup into an entry-level “Classic” and a premium “Pro.” Park visited the Doosan Bobcat and Doosan Motrol booths and toured displays by global competitors, focusing on the commercialization of AI-driven productivity gains and unmanned technologies. The newly introduced “Pro” models offer higher power and speed than the “Classic” line. AI features include “Jobsite Companion,” which uses voice recognition to control more than 50 functions, and “Jobsite Awareness,” which detects nearby obstacles and people and automatically slows or stops. Doosan said its compact equipment is used for varied tasks on job sites where conditions change frequently, unlike heavy machinery used for repetitive work on large sites. Tailored to that environment, Jobsite Companion is designed to help less-experienced operators improve productivity by providing AI guidance comparable to that of skilled workers. The company said it plans to launch the technology this summer, and noted it was named a finalist for CONEXPO’s Next Level Awards. Park Jeongwon said, “As AI technology applied to construction equipment and job sites advances faster, the landscape of the construction equipment market — which used to place greater weight on hardware capabilities — is changing.” He added, “Based on Doosan Bobcat’s unrivaled data accumulated over many years, let’s deliver differentiated AI technology, present the future of construction equipment and lead the market.”* This article has been translated by AI. 2026-03-08 10:12:18 -
HD Hyundai Electric to Expand Alabama Transformer Plant With $200 Million Investment HD Hyundai Electric is moving ahead with an expansion of its North American manufacturing base. The company said Sunday it held a groundbreaking ceremony March 6 (local time) for a second factory at its North American unit, HD Hyundai Power Transformers USA, in Montgomery, Alabama. The new plant will be built on the existing site and cover 29,000 square meters (about 8,800 pyeong). It is scheduled for completion in April next year. HD Hyundai Electric plans to invest about $200 million to increase extra-high-voltage transformer production capacity by 50% and to install testing and production facilities for 765-kV transformers, as demand rises for U.S. extra-high-voltage transmission grid projects. The North American unit was established in 2011 as the first U.S.-based transformer manufacturing plant set up by a South Korean power equipment company, and it is the largest power transformer production facility in the United States, the company said. A company official said the North American operation has played a key role in strengthening HD Hyundai Electric’s position in the U.S. market. “By successfully completing this second factory and creating synergy with the expansion of our Ulsan plant, which is scheduled to be completed in September this year, we will further strengthen our leadership in the North American extra-high-voltage transformer market,” the official said. Attendees at the event included HD Hyundai Electric President Kim Young-gi; Lee Jun-ho, consul general of the Republic of Korea in Atlanta; Ellen McNair, Alabama secretary of commerce; Cornelius “CC” Calhoun, chairman of the Montgomery City Council; and representatives of key customers and partner companies.* This article has been translated by AI. 2026-03-08 09:51:17 -
Posco Future M to Invest 357 Billion Won in Vietnam Synthetic Graphite Anode Plant Posco Future M will build a synthetic graphite anode material plant in Vietnam as it seeks to stabilize supply of key battery materials. The company said its board on Wednesday approved an investment of about 357 billion won ($3570억원) to build the plant in Thai Nguyen, an industrial city in northern Vietnam. Construction is scheduled to begin in the second half of this year, with mass production planned from 2028. The plant will be built on a site that can be expanded to a maximum capacity of 55,000 tons. Posco Future M said it plans to increase output in stages depending on orders. Synthetic graphite anode material is used to improve fast-charging performance and battery life, and demand has been rising. The company said the material has drawn attention as a strategic item because supply is heavily dependent on certain countries, making diversification a priority. The company cited moves by major markets to reshape supply chains. The United States last year created requirements for “prohibited foreign entities” under implementing rules for the Inflation Reduction Act, and Europe set goals under the Critical Raw Materials Act to reduce reliance on specific countries for strategic raw materials. Posco Future M said it has been working to internalize the full supply chain for natural and synthetic graphite anode materials, covering raw materials, intermediate materials and finished products. It said it localized natural graphite anode materials in 2011 and completed a synthetic graphite anode plant in Pohang in 2021, establishing a mass-production system and supporting supply-chain self-reliance for South Korea’s battery industry. Posco Future M said Vietnam offers cost advantages in investment, electricity, labor and logistics, and can secure competitive costs compared with other Southeast Asian countries such as Indonesia. It also cited Vietnam’s industrial infrastructure, including its power grid, and said the country is pursuing export-led growth while working to create favorable trade conditions with major countries, including the United States. A Posco Future M official said the company is holding talks with multiple customers in South Korea, North America and the European Union on supplying cathode and anode materials, based on supply-chain solutions and technology that can respond to trade restrictions. The official said the company will continue to strengthen competitiveness and expand sales, aiming to become a top-tier global battery materials player. 2026-03-05 16:09:26 -
Korean Industry Urges Action as Hormuz Closure Fears and U.S. Tariffs Add Pressure U.S.-Iran fighting has heightened fears that the Strait of Hormuz could be blocked, prompting South Korean industry leaders to press for swift countermeasures at an emergency meeting at the National Assembly on the 5th. Exporters and energy companies attended the “Democratic Party-industry emergency meeting on Middle East issues,” urging the government to respond quickly to what they called a compound crisis driven by Middle East instability and U.S. tariffs. Democratic Party lawmaker Kim Young-bae said South Korea relies on the Middle East for about 70% of its crude oil. “It’s a very grave situation,” he said, calling for diversified supply chains and tighter energy security. Democratic Party lawmaker Ahn Do-geol said crude oil stockpiles cover about 270 days, but liquefied natural gas reserves amount to only about nine days. He urged a stronger plan centered on LNG supply. Representing industry, Kim Chang-beom, vice chairman of the Federation of Korean Industries, warned that if the Iran situation drags on, it could quickly weigh on the broader economy, including energy and shipping. He said difficulties could deepen for the petrochemical sector, where restructuring has only just begun. Kim said broad government support is needed, citing key variables such as energy and logistics costs, exchange rates and non-tariff barriers. He also asked lawmakers to help pass a “special law on investment in the United States” quickly through bipartisan agreement. After opening remarks, the meeting shifted behind closed doors. Oh Tae-gil, vice president of HD Hyundai Oilbank, told reporters afterward that he asked the government to release oil from strategic reserves. He said there was no discussion of the petrochemical sector, where naphtha cracking capacity is being reduced. Democratic Party lawmaker Heo Seong-moo said response measures for the shipping industry were also discussed. He said participants raised the need to keep hotlines with embassies and consulates running smoothly to ensure the safety of employees and family members dispatched to the Middle East. Heo said a recent rise of about 200 won per liter in gasoline prices reflected, in part, psychological factors, and stressed the need for the government to send a stabilizing signal to the market. International oil prices have jumped amid the fighting, fueling controversy around domestic refiners. Critics have raised collusion suspicions after refiners adjusted prices preemptively, rather than following the usual practice of reflecting global oil-price increases two to three weeks later. Gasoline prices in Seoul topped 1,800 won per liter, the highest level in about two years and five months. The government has said it will respond strictly to unfair trading and has announced plans to hold meetings with refiners and others to review oil supply and market conditions. The meeting, hosted by the Democratic Party, was attended by Hanwha Ocean President Jeong In-seop; Samsung Electronics Vice President Yoon Young-jo; Hyundai Motor Vice President Lee Hang-soo; HD Hyundai Oilbank Vice President Oh Tae-gil; Ko Yoon-joo, head of LG’s Global Strategy Development Institute; Park Seok-joong, head of SK’s Management and Economy Research Institute; Ahn Young-mo, head of policy at GS Caltex; FKI Vice Chairman Kim Chang-beom; Jang Sang-sik, head of the Korea International Trade Association’s Institute for International Trade; and Kim Myeong-hee, vice president of the Korea Trade-Investment Promotion Agency. HMM was listed among participants but did not attend due to company circumstances, according to the report.* This article has been translated by AI. 2026-03-05 15:36:55 -
HMM Ship Waits at Dubai Port as Hormuz Strait Closure Risk Rises HMM is reviewing measures to protect the safety of its local staff and crew as the risk grows that the Strait of Hormuz could be blocked following U.S. strikes on Iran. According to the shipping industry on Monday, HMM’s Daon is anchored and waiting at Jebel Ali Port, the main gateway port for Dubai in the United Arab Emirates. Jebel Ali is the UAE’s key logistics hub and the Middle East’s largest port, serving as a major stop for container ships linking the Middle East with Africa and Europe. HMM said the Daon “is not in a danger zone and is working after arriving at its destination.” The HMM Daon is a 16,000-TEU container ship and is known to typically carry about 30 crew members. It mainly transports cargo between the Middle East — including the UAE and Iraq — and Singapore, and must pass through the Strait of Hormuz, making it sensitive to geopolitical risk. After U.S. and Israeli military action against Iran, Iran moved to control the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps claimed through local media on March 1 that it “is implementing a blockade of the Strait of Hormuz,” and said it radioed nearby vessels to prohibit passage. According to foreign media reports, Iran retaliated with drones and missiles after U.S. and Israeli strikes on Iran, sparking a fire at Dubai’s landmark Burj Al Arab hotel and threatening the airport and port facilities. The attacks were reported to have continued on Monday. HMM said it is monitoring the Daon while it remains anchored in Dubai and will decide whether to move it to a safer area depending on how the situation develops. Separately, one of more than 20 HMM container ships and tankers operating in the region had been inside the Strait of Hormuz on Sunday but exited safely. Industry officials said prolonged instability in the Middle East could make route diversions or schedule adjustments unavoidable. 2026-03-02 19:18:08 -
South Korean Refiners, Shippers and Petrochemical Firms Brace for Hormuz Risk After U.S. Strikes on Iran The possibility that the Strait of Hormuz could be blocked after U.S. airstrikes on Iran has put South Korea’s refining, shipping and petrochemical industries on alert as they monitor developments. Industry officials said Monday that rising geopolitical risks around the Strait of Hormuz — a key global energy corridor — and the Red Sea, a major logistics route, are adding uncertainty across the economy. The Strait of Hormuz carries about 20% of globally traded oil, 70% of South Korea’s imported crude and 20% of its imported liquefied natural gas. The route is used mainly by oil tankers rather than container ships, but heightened tensions could also destabilize nearby Red Sea lanes, likely pushing up overall ocean freight rates. Extra costs incurred as tankers transit the strait despite risks or wait offshore are expected to add upward pressure on oil prices. Refiners have not set up a separate task force, but have begun internal risk checks and are preparing responses. A sharp rise in crude prices can bring short-term inventory valuation gains, but if import costs climb quickly, refining margins are likely to narrow. A refining industry official said the strait has not reached a stage where a blockade is taking shape, and companies are closely watching Middle East developments, longer-term oil price trends and potential effects on crude imports. The government and refiners say they have about seven months of strategic stockpiles, limiting near-term supply concerns. If the situation drags on, however, disruptions to crude procurement could combine with higher insurance premiums and freight costs to raise the burden. Global analysis firms have also issued pessimistic forecasts that oil could reach $100 a barrel if Iran actually blocks the strait. Shipping companies are watching whether the downturn in the sector could pause if detours become necessary. They expect the Shanghai Containerized Freight Index, which has been falling, could rebound, with ocean freight rates rising as much as 50% to 80% and offsetting weak conditions. In the tanker market, some forecasts say daily rates for very large crude carriers on Middle East-Asia routes could top $200,000 as the situation overlaps with rising global LNG demand. Still, the Iran strikes are seen as effectively ending hopes that HMM would return to the Suez route in the second half of this year. Over the longer term, higher fuel and insurance costs could also limit profit gains. Petrochemical companies, already trying to survive by consolidating naphtha cracking capacity, face added strain. Higher crude prices lift naphtha prices and then feed into prices for basic petrochemicals such as ethylene. But ethylene prices have been stuck since last year due to oversupply. If feedstock costs surge while product prices remain flat, margins will shrink further, worsening profitability for petrochemical makers. 2026-03-02 16:04:11 -
Korea’s Top Battery Makers to Showcase AI, ESS and Robotics Tech at InterBattery 2026 South Korea’s three major battery makers and key materials companies will take part in InterBattery 2026, the country’s largest battery and materials exhibition, to showcase battery technologies aimed at the AI era. With North American automakers scaling back electric-vehicle programs, the companies are looking to win early share in fast-growing markets such as energy storage systems, or ESS, and humanoid robots. According to the industry on the 2nd, the Korea Battery Industry Association will hold InterBattery 2026 from March 11 to 13 at COEX in Seoul. The exhibition theme is “Original Innovator, Creating the Future of Energy.” LG Energy Solution said it plans to highlight efforts to expand growth drivers beyond EVs into ESS, robotics and other industries, positioning itself as an “original innovator” that leads future energy tailored to customer needs. The company said its booth will be organized into five zones, starting with a “hero zone” on battery history and future vision, followed by sections on energy infrastructure, mobility, robotics and drones, and future technologies. LG Energy Solution plans to unveil ESS solutions optimized for power grids, along with a next-generation rack system for JP6 UPS using lithium iron phosphate, or LFP, for AI data centers, and a battery backup unit, or BBU, solution using high-output cylindrical batteries. It will also present examples of finished products in robotics and drones that use its batteries. SK On, which the article said won more than 50% of volumes in a second ESS central procurement market worth about 1 trillion won, will also use the exhibition to broaden its business into ESS and robotics and speed up portfolio expansion. SK On will introduce a high-energy-density LFP pouch battery for ESS, aligning with rising demand for large-capacity cells as the global ESS market seeks lower component costs and higher output. The company said it is conducting R&D to raise LFP battery energy density from 350 to 450Wh/L to about 500Wh/L. It will also show robotics applications, including a Hyundai Wia logistics robot — an autonomous mobile robot, or AMR — equipped with a high-nickel NCM battery. The robot is used at industrial sites, including Hyundai Motor Group Metaplant America, for logistics automation. SK On said its booth will be divided into three areas: Leading Tech, Future Tech and Core Tech. The Leading Tech area will feature an “R&D studio” where visitors can experience battery design and manufacturing processes. The Future Tech area will display immersion cooling technology being jointly developed with SK Enmove, along with ultra-fast charging technology that the company said can charge a battery from 10% to 80% in seven minutes. Samsung SDI will participate under the slogan “AI thinks, Battery enables,” presenting a vision it describes as “AI’s imagination, made real by batteries.” The company said the centerpiece of its display will be ultra-high-output, high-quality battery technology for data centers, a key infrastructure for the AI era. Samsung SDI plans to exhibit battery solutions for uninterruptible power supplies, or UPS, and battery backup units, or BBU, emphasizing the role of ultra-high-output batteries in supporting “zero power gaps” for AI data centers. It will also display “Samsung Battery Box,” an integrated battery solution for ESS that emphasizes environmental considerations and safety. Samsung SDI said it will introduce its all-solid-state battery technology, which it described as the heart of physical AI. The company said it plans to expand applications for its all-solid-state batteries — under development with mass production targeted for the second half of 2027 — to a range of physical AI uses, including humanoids, mobile robots and industrial robots. POSCO Future M will also participate, showcasing next-generation cathode and anode materials. The company said it will highlight materials solutions tailored to the needs of devices such as autonomous-driving EVs, ESS and humanoid robots. Its display will include development status and road maps for next-generation materials, including ultra-high-nickel cathodes with nickel content raised to more than 95% to improve driving range and stability for autonomous-driving EVs; LFP cathodes used in ESS and entry-level EVs for lower cost and long life; and materials for all-solid-state batteries and silicon anodes, which the company said are drawing attention as potential game changers for next-generation industries such as robotics due to high energy density. An industry official said the exhibition is expected to show how the battery industry is expanding from an EV-centered focus to future industries including AI infrastructure and robotics. “At various booths, visitors will be able to see battery technologies applied to future industries firsthand,” the official said. 2026-03-02 10:39:17 -
Hyosung Heavy Industries Reviews HVDC Localization Plan With Industry, Academia Hyosung Heavy Industries outlined a roadmap to localize high-voltage direct current, or HVDC, technology, a key element of the government-led “West Coast Energy Superhighway” project. The company said Wednesday it held a review meeting at its headquarters in Seoul’s Mapo district with officials from Korea Electric Power Corp., the Korea Electrical Manufacturers Association, and experts from industry, academia and research institutes. The West Coast Energy Superhighway is a national backbone grid project aimed at reliably delivering large-scale offshore wind power to the Seoul metropolitan area. The meeting was set up to closely assess progress in localizing large-capacity, voltage-source HVDC technology — an area that has relied heavily on overseas technology — and to discuss next steps. Hyosung Heavy Industries presented the status of its localization work on key components for a 2-gigawatt voltage-source HVDC system, including converter valves and control systems. The company said voltage-source HVDC makes power control easier than conventional current-source systems and is advantageous for grid stability, making it essential for connecting renewable energy. Presentations also were given by leading domestic experts. Professors from Seoul National University, Yonsei University and Kyungpook National University, participating as a technical cooperation group, discussed research in areas including system optimization and grid-stabilization technologies. Lee Jong-pil, a center director at the Korea Electrotechnology Research Institute who joined as an adviser, presented on certification testing for converter valves, a core component. Participants agreed the West Coast Energy Superhighway could serve not only as a domestic grid buildout but also as a springboard for Korean HVDC technology to enter global markets. They said technology self-reliance could lead to a broader domestic HVDC ecosystem spanning equipment, systems and engineering, and strengthen export competitiveness. “HVDC technology is at the core of national energy security,” Seoul National University professor Choi Seong-hwi said. “To reduce dependence on overseas technology and secure sovereignty over the power grid, building a localization ecosystem is essential.” A Hyosung Heavy Industries official said the company is moving ahead with localization “without disruption” based on capabilities built up in power equipment and HVDC technology. The official said Hyosung plans to complete the project successfully through close cooperation with related organizations, including the government and KEPCO, and to expand into global markets.* This article has been translated by AI. 2026-02-26 09:18:21