Journalist

Shin Ji-a
  • LG Energy Solution Steps Up Push Into Battery Recycling and Reuse
    LG Energy Solution Steps Up Push Into Battery Recycling and Reuse LG Energy Solution said Monday it is focusing on expanding battery recycling and reuse, aiming to build a circular resource system from raw-material production through use and disposal while pursuing future growth through new businesses. In June last year, the company announced it would set up a recycling joint venture, GMBI, with Toyota Tsusho Corp., a Toyota Group company, in North Carolina. The venture will have a maximum annual processing capacity of 13,500 tons, enough to handle used EV batteries and scrap equivalent to more than 40,000 vehicles a year. The new joint venture will be a pretreatment plant specializing in safely dismantling and shredding end-of-life batteries and manufacturing-process scrap to produce “black mass.” The black mass will then go through separate post-processing to be refined into key minerals such as lithium, cobalt and nickel for use in battery production. In April last year, LG Energy Solution also announced a battery recycling joint venture with Derichebourg, France’s top metal recycler, in the Val-d’Oise region, with annual capacity of 20,000 tons. The company said the move is intended to respond proactively to European regulations and help build a sustainable battery ecosystem. For reuse, LG Energy Solution said it has installed and is operating an EV-charging energy storage system using repurposed batteries at Ochang Energy Plant 1. It is also building know-how through efforts including a North America reuse ESS business and development of reuse ESS systems for UPS and backup power applications. Separately, the company said it is working to achieve “zero waste to landfill” across all its sites. It said its Nanjing plant in China received UL’s top Platinum rating after being recognized for a 100% resource-circulation rate. An LG Energy Solution official said the company will “take the lead in realizing a sustainable future and customer value by building a circular system for battery resources.”* This article has been translated by AI. 2026-02-24 18:03:20
  • Korean Shipbuilders Poised to Extend LNG Boom as China’s Delivery Slots Fill Up
    Korean Shipbuilders Poised to Extend LNG Boom as China’s Delivery Slots Fill Up Korean shipbuilders are expected to keep their “supercycle” going this year as major Chinese yards run out of building capacity through 2029, pushing owners seeking deliveries in that window toward Korea. Demand expectations are also rising as large LNG projects in the United States and Qatar move into full swing. Industry officials said Qatar plans to double its LNG production capacity by 2030. The International Energy Agency also forecast that global LNG supply will rise this year at the fastest pace since 2019, led by the United States. To meet the increase in supply, the industry expects additional orders for about 70 LNG carriers. Chinese shipyards are winning LNG carrier orders at prices about $30 million lower than Korean rivals. Still, owners have continued to choose Korean yards, citing confidence in technology and on-time delivery. With Chinese yards’ 2029-2030 delivery slots effectively sold out, analysts said owners wanting ships delivered in that period will have fewer options, narrowing choices to Korea and strengthening Korean builders’ pricing power. “In 2025, shipowners were watching geopolitical developments, so orders leaned more toward container ships than LNG carriers,” an industry official said. “This year, LNG development projects in various countries are expected to move forward in earnest, so expectations for more LNG carrier orders are high.” Clarksons Research data showed global ship orders in January totaled 5.61 million CGT, or 158 vessels, up 27% from 4.43 million CGT a year earlier. LNG carrier prices were about $248 million, and Korean shipbuilders’ market share was about 40%. Hanwha Ocean said in a conference call this month that it expects to achieve revenue on par with last year and that overall market conditions should improve as U.S. LNG export projects accelerate. Samsung Heavy Industries said in a conference call last month that Chinese yards have allocated Qatar-related work through 2031 deliveries, consuming available slots, and stressed that Korea could benefit from upcoming U.S. orders. HD Korea Shipbuilding & Offshore Engineering also projected Korean builders would maintain market share, saying Chinese-built LNG carriers still lag Korea in quality and technology. Hanwha Ocean posted 12.6884 trillion won in revenue last year, up 18% from a year earlier, with balanced performance in its commercial and special-purpose ship businesses. HD Korea Shipbuilding & Offshore Engineering said revenue rose 17.2% to 29.9332 trillion won, citing a higher share of high-priced ships, improved productivity and increased output. Samsung Heavy Industries also exceeded its revenue guidance and returned to the “10 trillion won club” with 10.65 trillion won in revenue.* This article has been translated by AI. 2026-02-20 17:03:27
  • Samsung Heavy Wins $268 Million Order for One LNG Carrier
    Samsung Heavy Wins $268 Million Order for One LNG Carrier Samsung Heavy Industries said in a regulatory filing on Thursday that it won an order for one liquefied natural gas carrier from an Oceania-based shipowner for 368 billion won. The vessel is scheduled to be delivered by May 2028. The company’s year-to-date orders total eight ships worth $1.9 billion, reaching 14% of its annual target of $13.9 billion. By vessel type, the orders include three LNG carriers, two ethane carriers, two container ships and one crude oil carrier, for a total of eight ships. The tally reflects a $400 million increase tied to a preliminary contract for offshore production facility pre-work that the company disclosed on Feb. 13. “Since the start of the year, orders for LNG carriers have continued smoothly,” a company official said, adding that Samsung Heavy plans to maintain a selective order strategy focused on high-value ships.* This article has been translated by AI. 2026-02-20 12:09:14
  • POSCO Holdings to Nominate Directors, Cancel 2% of Treasury Shares
    POSCO Holdings to Nominate Directors, Cancel 2% of Treasury Shares POSCO Holdings decided at a regular board meeting at the POSCO Center to put director nominations and the cancellation of treasury shares on the agenda for its annual shareholders meeting. According to the industry on Thursday, the board’s director nomination committee recommended Joo-yeon Kim, a former vice chair for P&G Japan and Korea, as a new outside director. It also re-nominated outside director Jun-gi Kim, whose term is ending, as a candidate for the audit committee. Joo-yeon Kim previously served as vice chair of Korea P&G, CEO and president of P&G Korea, and global chief marketing officer for P&G Grooming. She currently serves as an outside director at SK Innovation. For inside directors, the company recommended Seok-mo Jeong, head of the Business Synergy Division. It also recommended Hee-geun Lee, CEO and president of POSCO, as a non-executive director. In addition, it re-nominated Ju-tae Lee, head of the Future Strategy Division, and Ki-su Kim, head of the Future Technology Research Institute and the group’s chief technology officer, as inside directors. Jeong joined POSCO in 1991 and has served as CEO and president of ENtoB, head of POSCO’s secondary battery materials business office, and head of the industrial gas business division, with experience spanning steel, secondary battery materials and industrial gas. The nominees are expected to be formally appointed after approval at the annual shareholders meeting on March 24. After the appointments, POSCO Holdings’ board will have 12 members: seven outside directors, four inside directors and one non-executive director. The board also approved the cancellation of 2% of its treasury shares, valued at 635.1 billion won. The move is part of a plan announced in July 2024 to strengthen shareholder returns and boost corporate value by canceling a total of 6% of treasury shares over three years, or 2% a year. The company said it plans to carry out the remaining cancellation target this year to complete the three-year shareholder-return policy. The board also decided to submit other items to shareholders, including approval of the 2025 financial statements, partial amendments to the articles of incorporation, and approval of the cap on directors’ compensation. POSCO Holdings said it will maintain its dividend policy of a basic dividend of 10,000 won per share despite a global economic slowdown and a tougher protectionist trade environment.* This article has been translated by AI. 2026-02-20 09:27:49
  • Hanwha Ocean Signs Canada Shipyard, College Deals to Expand Naval, Workforce Ties
    Hanwha Ocean Signs Canada Shipyard, College Deals to Expand Naval, Workforce Ties Hanwha Ocean said it has set up a cooperation framework with Canada’s Ontario Shipyards and Mohawk College to help strengthen Canada’s shipbuilding competitiveness and train skilled workers. The company said it signed a memorandum of understanding with Ontario Shipyards in Toronto on Feb. 18 for strategic cooperation. It also signed a three-way strategic cooperation letter of intent with Ontario Shipyards and Mohawk College. Canadian members of Parliament Aslam Rana, Chris Bittle, John Paul Danko and Shima Akan attended the event, the company said, welcoming closer shipbuilding and naval-industry cooperation between Canada and South Korea. Under the MOU, Hanwha Ocean will provide Ontario Shipyards with ship design and engineering advice, production planning and process management support, help building quality-control systems, and advanced processes based on smart-shipyard technology. Hanwha Ocean said the goal is to gradually rebuild Ontario’s large-vessel construction capability and support Canada’s long-term naval industrial base. The companies said they will pursue cooperation with an eye on future Canadian Navy projects, including the Canadian Patrol Submarine Project. Hanwha Ocean said it will provide technical support starting in the preparation stage, including design work, for ships Ontario Shipyards will begin building this year. Hanwha Ocean also said it will work with Ontario Shipyards and Mohawk College to establish a “shipbuilding workforce training hub” at the shipyard. The company said the hub will be tied to the shipyard’s 10- to 15-year expansion and modernization plan and will train key skilled workers in areas including welding, fabrication, marine machinery, electrical work, robotics and nondestructive testing. The three organizations said they plan to move forward in stages, including building an integrated training campus at Ontario Shipyards, developing industry-led advanced training programs, setting up a workforce development system aligned with production and expansion plans, and jointly identifying applied research projects using technologies such as virtual reality, robotics and digital twins. Shaun Padulo, CEO of Ontario Shipyards, said the shipyard is playing a leading role in rebuilding large-ship construction capability in Ontario. “Through our partnership with Hanwha Ocean, we will accelerate the rebuilding of shipbuilding capacity, the creation of high-quality jobs, and the strengthening of the marine and defense industrial base in Ontario and Canada,” he said. Kim Hee-cheol, CEO of Hanwha Ocean, said the two agreements “are about the future of Hanwha Ocean and Ontario Shipyards” and will deepen friendship between Canada and South Korea. He said the company will “firmly build the foundation” for the successful execution of Canadian Navy projects, including the Canadian Patrol Submarine Project. * This article has been translated by AI. 2026-02-19 16:51:00
  • SK Innovation Picked to Develop $2.3 Billion Vietnam LNG Power Project
    SK Innovation Picked to Develop $2.3 Billion Vietnam LNG Power Project SK Innovation has been selected to develop a large liquefied natural gas power project in Vietnam with a total cost of about $2.3 billion (about 3.3 trillion won), marking a push to expand its global LNG business. According to industry officials on Thursday, a consortium formed by SK Innovation and SK Innovation E&S with PV Power, a power-generation unit under Vietnam’s state-owned oil and gas group PVN, and Vietnamese company NASU was chosen by the government of Nghe An province as the developer of the Quynh Lap LNG power project. The project will build, in the Quynh Lap area of Nghe An province about 220 kilometers south of Hanoi, a 1,500-megawatt combined-cycle gas power plant, a 250,000-cubic-meter LNG terminal and a dedicated port. SK Innovation said it will carry out the project with PV Power and NASU, aiming to start construction in 2027 and complete the terminal and power plant in 2030. The initial tender in 2024 drew major global companies from South Korea, Japan and Qatar that passed a preliminary review. The developer selection process then proceeded in January for those that cleared the screening. SK said it is also considering expanding the LNG terminal into a hub that supplies gas to nearby power plants. The company said using the terminal as a hub would improve efficiency, shorten the project timeline and help ensure timely energy supply, aligning with Vietnam’s power development plan focused on integrated energy infrastructure and regional industrial growth. Vietnam, facing chronic power shortages amid rapid industrialization and population growth, relies heavily on coal and hydropower. SK Innovation proposed meeting near-term electricity demand with LNG and pursuing a longer-term shift to carbon-free power sources, a plan it said matches the Vietnamese government’s direction for stable, low-carbon energy supply. SK Group Chairman Chey Tae-won visited Vietnam in February last year and met with General Secretary Lam. At the time, a plan was also discussed to support high value-added industries near the LNG plant by leveraging SK Group capabilities in areas such as AI and semiconductors, described as an “energy-industry cluster” model aimed at contributing to Vietnam’s economic growth and stable energy supply. SK Innovation said the selection is its first case of applying overseas the LNG value-chain model it completed as the first private company in South Korea. The company said it plans to use the Quynh Lap project as a foothold to expand the proven model across Vietnam. “This selection is a major achievement that proves SK’s unmatched LNG value-chain competitiveness works in the global market,” an SK Innovation official said. “Working with the Nghe An provincial government, we will help address Vietnam’s power shortages while also supporting regional economic development.”* This article has been translated by AI. 2026-02-19 10:57:23
  • Steelmakers Eye Humanoid Robots as New Growth Market for Specialty Steel
    Steelmakers Eye Humanoid Robots as New Growth Market for Specialty Steel Humanoid robots are emerging as a potential new growth market for South Korea’s steel industry, as demand is expected to increase for specialty steel and electrical steel sheets used in key drive components such as reducers, joint shafts and motor cores. Analysts say steel demand, long centered on construction and shipbuilding, could broaden to robots and other automation equipment. Industry officials said Feb. 18 that Korean steelmakers could strengthen a two-track strategy: adopting humanoid robots in their own plants as users while also supplying robot-grade materials. While artificial intelligence makes robots smarter, specialty steel is what enables them to handle heavy work in industrial settings. High-strength, high-durability specialty steel is used in critical reducer parts that power robot joints, including internal gears and splines. Steel is also applied to load-bearing sections of robot frames, often combined with aluminum alloys to reduce weight. Ultra-high-strength steel sheet developed for automobiles and non-oriented electrical steel sheet used in drive motors are also closely tied to energy efficiency, supporting expectations of rising demand. Korean steelmakers already say they have the capability to produce materials for humanoid robots. SeAH Besteel has said it developed steel for robot reducers in 2021. POSCO produces its ultra-high-strength steel sheet Giga Steel for robot applications and its high-efficiency non-oriented electrical steel sheet Hyper NO. Hyundai Steel is also seen as able to supply materials for precision machinery and drive components through its high-cleanliness specialty steel production system. Steelmakers are also accelerating efforts to bring humanoid robots into worksites to help replace labor. POSCO signed a memorandum of understanding with U.S. humanoid startup Persona AI to apply industrial humanoid robots in the field. In unloading finished rolled coils that can weigh tens of tons, cranes are required; the plan is for humanoid robots to work with on-site workers to fasten crane belts to the coils. Hyundai Steel has introduced a tagging robot at its Dangjin specialty steel plant to automate shipping processes as it moves faster on smart-factory implementation. “While the market is still in its early stages, the expansion of the robot industry could lead to increased demand for high value-added specialty steel and electrical steel sheets,” an industry official said. “The amount of specialty steel used in humanoid robots is not large, but we are preparing mid- to long-term strategies as the market grows.”* This article has been translated by AI. 2026-02-18 17:06:00
  • Doosan Enerbility, Doosan Skoda Power sign $240 million steam turbine deal for Czech nuclear plant
    Doosan Enerbility, Doosan Skoda Power sign $240 million steam turbine deal for Czech nuclear plant Doosan Enerbility said Tuesday it signed a 320 billion won ($240 million) contract with its subsidiary Doosan Skoda Power to supply steam turbines and turbine control systems for the Dukovany nuclear power plant units 5 and 6 in the Czech Republic. A signing ceremony was held in Prague on the 16th (local time) with the industry ministers of South Korea and the Czech Republic in attendance. The Czech government last June signed the main contract for the Dukovany 5 and 6 construction project with Korea Hydro & Nuclear Power, stepping up cooperation with the so-called “Team Korea.” Doosan said the latest deal is Team Korea’s first large-scale cooperation contract with a local Czech company and reflects the Czech government’s push for localization from the project’s early stages. The contract covers steam turbines, generators and turbine control systems, with equipment for two units to be supplied. Doosan Skoda Power, a power equipment company with more than 150 years of history, has supplied 26 nuclear steam turbines to three countries: the Czech Republic, Slovakia and Finland. Doosan said the Dukovany deal is the first new nuclear plant construction project jointly carried out by Doosan Enerbility and Doosan Skoda Power, combining the subsidiary’s manufacturing experience with Doosan Enerbility’s nuclear main-equipment technology. “This contract is a meaningful example of creating synergy by bringing together South Korea’s nuclear technology and local manufacturing capabilities for the Czech new nuclear project,” Son Seung-woo, head of Doosan Enerbility’s Power Service BG, said in a statement. He said the company will work closely with Doosan Skoda Power to complete the project successfully and contribute to the development of the Czech power industry.* This article has been translated by AI. 2026-02-18 15:12:00
  • Doosan Chairman Park Jeongwon says AI boom boosts energy, semiconductor push
    Doosan Chairman Park Jeongwon says AI boom boosts energy, semiconductor push Doosan Group is stepping up its push into artificial intelligence, betting that expanding global AI infrastructure will lift demand for its semiconductor and energy businesses. The company says it aims to strengthen its business structure and develop new growth engines. Doosan said Park has recently visited Doosan Enerbility and Doosan’s Electronics BG sites as part of on-site management. “With the AI transformation, a major window of opportunity has opened in the energy business,” Park said. “Based on the capabilities we have built up, we must further strengthen global competitiveness and make the most of the expanded opportunities.” Park visited Doosan Enerbility’s site in Changwon, South Gyeongsang Province, a day earlier to review the energy business. Doosan said surging AI-related power demand is benefiting the energy-infrastructure company. Park toured a power-generation gas turbine plant and the main equipment manufacturing line for small modular reactors, or SMRs, as the company works to fulfill a growing order book. Doosan Enerbility said it succeeded in localizing large power-generation gas turbines in 2019 and has won orders for a total of 16 turbines at home and abroad. It also said it signed a contract last year to supply five 380-megawatt large gas turbines to a U.S. big tech company. The company has set a mid- to long-term roadmap targeting cumulative orders of 45 turbines by 2030 and 105 by 2038. Park also visited Doosan’s Electronics BG site in Jeungpyeong, North Chungcheong Province, to check the manufacturing process for copper-clad laminate, or CCL, used in AI accelerators. Doosan said order backlogs are rising as global big tech companies intensify competition to develop their own AI accelerators. High-performance CCL is required to minimize signal loss and withstand high-temperature operating conditions, it said. Doosan said a stock purchase agreement to acquire SK Siltron is likely to be finalized next month. It said the wafer maker’s growth prospects are being viewed favorably amid a semiconductor supercycle tied to the AI boom. Doosan Group said its 2025 revenue rose 9.1% from a year earlier to 19.7784 trillion won, and operating profit increased 5.9% to 1.0627 trillion won. Among AI-related affiliates, Doosan Enerbility said consolidated revenue rose 5.1%, while Doosan’s Electronics BG posted record revenue of 1.8756 trillion won. Park last month visited CES 2026 in Las Vegas to review AI and other technology trends and seek new business opportunities. Doosan showcased energy solutions such as gas turbines and SMRs, as well as physical AI technologies in construction equipment and robotics, the company said.* This article has been translated by AI. 2026-02-12 18:57:00
  • HD Hyundais 2025 profit more than doubles on shipbuilding boom
    HD Hyundai's 2025 profit more than doubles on shipbuilding boom SEOUL, February 12 (AJP) - HD Hyundai said in a regulatory filing on Thursday that its 2025 operating profit more than doubled, driven by strong profitability in shipbuilding and offshore operations. The group reported consolidated revenue of 71.26 trillion won ($49.5 billion) for 2025, up 5.2 percent from a year earlier, while operating profit surged 104.5 percent to 6.1 trillion won. HD Hyundai said earnings growth was led by improved margins in shipbuilding and offshore businesses, with broad-based gains also recorded across units including power equipment. Shipbuilding and offshore holding company HD Korea Shipbuilding & Offshore Engineering posted revenue of 29.93 trillion won, up 17.2 percent, while operating profit jumped 172.3 percent to 3.9 trillion won. The company attributed the improvement to a higher proportion of high-priced vessels and increased production volumes resulting from efficiency gains. Among key subsidiaries, HD Hyundai Heavy Industries reported revenue of 17.58 trillion won and operating profit of 2.04 trillion won, while HD Hyundai Samho posted revenue of 8.07 trillion won and operating profit of 1.36 trillion won. Ship services and parts provider HD Hyundai Marine Solution reported revenue of 1.98 trillion won, up 13.6 percent, and operating profit of 350.1 billion won, up 28.9 percent. Engine affiliate HD Hyundai Marine Engine recorded revenue of 402.4 billion won and operating profit of 75.9 billion won, supported by higher engine output and parts sales. Solar panel unit HD Hyundai Energy Solutions posted revenue of 492.7 billion won and operating profit of 41.2 billion won, benefiting from stronger global sales and a recovery in selling prices. Energy affiliate HD Hyundai Oilbank reported revenue of 28.02 trillion won, down 8 percent from a year earlier, but operating profit rose 83.7 percent to 474 billion won as refining margins improved. The company said it plans to respond to global supply-chain shifts by diversifying crude sourcing and optimizing refinery operations. Power equipment maker HD Hyundai Electric posted revenue of 4.08 trillion won, up 22.8 percent, with operating profit climbing 48.8 percent to 995.3 billion won. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-12 16:06:51