AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

Shin Jia
  • Hanwha Ocean posts 441.1 billion won Q1 operating profit, up 78% from prior quarter
    Hanwha Ocean posts 441.1 billion won Q1 operating profit, up 78% from prior quarter Hanwha Ocean extended its earnings rebound on a high-margin business mix led by LNG carriers. The company said Sunday that on a consolidated basis it posted first-quarter 2026 revenue of 3.2099 trillion won and operating profit of 441.1 billion won. Revenue fell 3% from the previous quarter and 2% from a year earlier. Operating profit rose 78% from the prior quarter and 71% from a year earlier. Revenue edged down as fewer operating days weighed on output, but the commercial ship division drove growth on higher-priced projects and a larger share of LNG carriers. The naval ship division kept revenue steady, centered on submarine and surface-ship construction, while the energy plant division declined temporarily as projects ended. Profitability improved as the company maintained a high-margin LNG carrier mix and saw clearer gains in other ship types. It also cited benefits from a weaker won, cost cuts, productivity improvements and the impact of some early deliveries. In the first quarter, Hanwha Ocean booked orders totaling $2.45 billion, including four LNG carriers, seven very large crude carriers and one wind turbine installation vessel. A company official said profitability gains should continue as revenue recognition accelerates for high-priced commercial ship projects, adding that Hanwha Ocean will strengthen competitiveness based on its design and construction experience and systems integration capabilities.* This article has been translated by AI. 2026-04-27 14:51:15
  • HD Hyundai Heavy Signs Deal to Build Sweden’s Icebreaking Vessel, a First for a Korean Yard
    HD Hyundai Heavy Signs Deal to Build Sweden’s Icebreaking Vessel, a First for a Korean Yard HD Hyundai Heavy Industries said Sunday it has held a contract-signing ceremony for an overseas icebreaking vessel order, marking the first such deal won by a South Korean shipyard and moving the project into full implementation. The company said it signed the shipbuilding contract with the Swedish Maritime Administration on Friday local time at the National Maritime Museum in Stockholm. CEO Joo Won-ho and Swedish Maritime Administration Director General Erik Eklund attended the event and discussed the significance of the agreement and ways to cooperate going forward, the company said. HD Hyundai Heavy previously disclosed it had secured an order for one icebreaking vessel worth $348.9 million (about 514.8 billion won). The ship is expected to be delivered in 2029 and will have icebreaking capability rated at Polar Class 4. The company said the contract is seen as a step into the global icebreaker market and a foundation for expanding into Arctic-route vessels such as LNG carriers and bulk carriers equipped with icebreaking functions.* This article has been translated by AI. 2026-04-27 10:21:19
  • HJ Shipbuilding Wins Order for Two 10,100-TEU Container Ships
    HJ Shipbuilding Wins Order for Two 10,100-TEU Container Ships HJ Shipbuilding said Sunday it has won orders worth a combined 357.2 billion won for two 10,100-TEU container ships. The ships are based on the company’s in-house 7,700- to 9,000-TEU eco-friendly container ship design and were engineered to the largest specifications that can be built in the dock at its Yeongdo shipyard in Busan. The company said the high-efficiency design expands cargo space on deck and in the holds, while applying an optimized layout aimed at improving process efficiency and safety. HJ Shipbuilding previously won its first order for a container ship of 10,000 TEU or more at the Yeongdo shipyard in February. With the latest deal, it has secured four ships of the same design. The company said building identical ships in sequence is expected to boost efficiency across design, procurement and production, improving productivity and profitability. It added that shipowners can also benefit from more efficient operations and maintenance. To meet International Maritime Organization environmental rules, the ships will be built with exhaust gas cleaning systems, known as scrubbers, and an alternative maritime power system for shore power supply. HJ Shipbuilding said it has also completed development of an LNG dual-fuel propulsion model based on the same design to meet future demand for cleaner fuels. Chief Executive Yoo Sang-cheol said the company has laid the groundwork to build four large container ships of 10,000 TEU or more in succession at the Yeongdo shipyard. He said it will strengthen competitiveness through selective, profitability-focused orders and high-quality, on-time delivery.* This article has been translated by AI. 2026-04-27 10:15:05
  • Chey Tae-won to Present South Korea’s AI Growth Strategy at National Assembly Seminar
    Chey Tae-won to Present South Korea’s AI Growth Strategy at National Assembly Seminar Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry, will visit the National Assembly to lay out a national growth strategy for the AI era. The Korea Chamber of Commerce and Industry said Monday that the National Assembly Korea-China Parliamentary Union will hold its first policy seminar of 2026 at 8 a.m. Tuesday in the first small conference room of the National Assembly Members’ Office Building. The seminar will be held under the theme, “South Korea’s growth strategy amid the U.S.-China AI technology rivalry.” Chey is scheduled to deliver a special lecture offering a global business perspective on how the South Korean economy should respond. The event is set to begin with opening remarks by Kim Tae-nyeon and a commemorative photo session, followed by Chey’s lecture and a question-and-answer session with attending lawmakers. Organizers said about 40 lawmakers from both the ruling and opposition parties are expected to attend, including Kim Seong-won, senior vice chairman, and Reps. Lee Jae-jung, Min Byeong-deok, Jeong Il-young, Lim O-kyeong, Heo Seong-moo, Cho Bae-sook, Na Kyung-won, Shin Seong-beom and Cha Gyu-geun. Rep. Kim has led policy agendas focused on strengthening national industrial competitiveness and securing future growth engines, and has continued related discussions through an economic policy study group within the Assembly. Organizers said the seminar was arranged as part of that effort to flesh out a national strategy centered on AI and semiconductors. The Korea-China Parliamentary Union is a bipartisan parliamentary diplomacy platform with 145 lawmakers from both parties, and it continues policy discussions across areas including the economy, diplomacy and advanced industries.* This article has been translated by AI. 2026-04-27 10:13:36
  • South Korea Steelmakers Hold Up in Q1 as Hyundai Steel Returns to Profit
    South Korea Steelmakers Hold Up in Q1 as Hyundai Steel Returns to Profit Hyundai Steel returned to profit this year, but the rebound was limited by higher raw-material costs and currency headwinds. Dongkuk Steel Group improved profitability on stronger exports. In a regulatory filing Thursday, Hyundai Steel said first-quarter consolidated revenue rose to 5.7397 trillion won ($5.7397 trillion won) and operating profit totaled 15.7 billion won. It swung from an operating loss of 19.0 billion won a year earlier. Operating profit, however, fell 63.7% from the previous quarter, missing market expectations. The company cited higher coking coal prices and a heavier exchange-rate burden, while product prices faced downward pressure. In a conference call, Hyundai Steel said price normalization is under way as low-priced imports are pushed out and steelmakers reflect higher costs in prices. It said construction demand is unlikely to improve much in the first half, but demand should be maintained at a certain level through large projects by Samsung Electronics and SK hynix. Hyundai Steel said the impact from the war in the Middle East is limited. It said annual export volume to the region is about 140,000 tons, accounting for less than 1% of total sales. While higher oil prices weigh on profitability, it said it is working to defend margins, including shifting long-distance logistics to shorter routes to cut shipping costs. The company said rebuilding demand would emerge from six months after the war ends, adding it would respond jointly with South Korean construction firms if such demand materializes. Dongkuk Steel said in a preliminary earnings release that first-quarter revenue was 857.2 billion won and operating profit was 21.4 billion won, up 403.8% from a year earlier. After posting operating profit of 59.4 billion won last year amid weak steel demand, the company said it has shown a recovery trend starting in the first quarter. Dongkuk Steel said the improvement reflected its strategy to expand global exports. It said higher export volumes led to increased production and sales of long steel products, and it plans to adjust the share of export sales flexibly in response to changes in domestic demand this year. Dongkuk CM, an affiliate of Dongkuk Steel Group, also improved results on higher selling prices and cost controls, returning to profit from the previous quarter. First-quarter operating profit was 11.2 billion won, down 25.9% from a year earlier, but it reversed an operating loss of 3.8 billion won in the prior quarter. External conditions for the steel industry remain challenging, including a slowdown in construction. Still, the industry is watching for higher import prices as the government tightens anti-dumping investigations and for a possible demand pickup as the seasonal peak approaches. With structural oversupply and a delayed demand recovery, the pace of improvement is expected to be gradual. An industry official said some of the rise in raw-material costs has been reflected in selling prices, supporting results, but energy costs and uncertainty in downstream demand remain high. The official said it will take time for a full-fledged improvement in profitability.* This article has been translated by AI. 2026-04-24 16:22:09
  • HS Hyosung Vice Chairman Cho Hyun-sang Hosts K-Culture Event at Techtextil 2026 in Germany
    HS Hyosung Vice Chairman Cho Hyun-sang Hosts K-Culture Event at Techtextil 2026 in Germany HS Hyosung Advanced Materials took part in Techtextil 2026, billed as the world’s largest industrial materials exhibition, held in Frankfurt, Germany, from April 21 to 24 local time. The company said April 24 that global partnerships were further strengthened through “HS Hyosung Night,” hosted by Vice Chairman Cho Hyun-sang. HS Hyosung held the event on the evening of April 22, the exhibition’s second day, inviting about 130 guests including representatives from global companies such as Autoliv, ZF and Continental, as well as Lim Sang-beom, South Korea’s ambassador to Germany. The company said the gathering was designed to reinforce ties with key partners and share HS Hyosung Advanced Materials’ future vision. It said Cho listened directly to partners’ views and discussed practical cooperation while reviewing the company’s global network. The venue featured a fusion Korean traditional music performance, a hanbok experience and Korean food including bulgogi and gimbap, the company said. “K-culture is a special way to share Korea’s style, and that experience will help elevate HS Hyosung Advanced Materials’ global partnerships,” Cho said in a statement. He said the company would aim to create differentiated value in the global materials market as “a sincere partner” that goes beyond technology to build emotional connection. Cho added that amid heightened geopolitical uncertainty, the company would continue to practice the HS Hyosung spirit of moving forward with partners under the slogan “Value, and Together.” At the exhibition, HS Hyosung Advanced Materials showcased its full lineup of advanced fiber materials, from so-called super fibers such as carbon fiber and aramid to tire cord, airbags, seat belts and car mats. It also presented recycled polyester tire cord and a range of advanced recycling solutions, the company said, underscoring its position as an ESG-focused management leader. * This article has been translated by AI. 2026-04-24 14:40:23
  • Hyundai Steel Q1 Operating Profit Falls 63.7% to 15.7 Billion Won
    Hyundai Steel Q1 Operating Profit Falls 63.7% to 15.7 Billion Won Hyundai Steel said in a regulatory filing on Thursday that its first-quarter operating profit fell 63.7% from the previous quarter to 15.7 billion won ($11.3 million), while revenue rose 4.6% to 5.7397 trillion won on higher product sales volume. The company attributed the profit drop to a weaker won and higher raw material prices. It said operating profit is expected to gradually rebound from the second quarter as fewer low-priced imported products enter the domestic market, improving supply and demand, and as price increases for key products take effect. Hyundai Steel also said increases in borrowings and its debt ratio were temporary, citing investment spending for future growth, including capital contributions to its U.S. steel mill. Despite a challenging business environment, the company said it will prioritize profitability improvement this year and focus on securing new demand. It said it aims to win new orders and move early in the power infrastructure sector at home and abroad, respond to growing demand for energy storage systems, and build a response system for all transmission-tower products, including structural steel and heavy plate, in line with a government-led domestic power-grid infrastructure buildout. The company said it is expanding orders for steel used in transmission towers. Hyundai Steel said it is mass-producing low-carbon steel sheet that cuts carbon emissions by 20% and plans to lead the low-carbon market by pursuing additional steel-grade certifications to expand global sales. A Hyundai Steel official said the company will seek to capture new demand in the power infrastructure industry, actively respond to demand for low-carbon steel through an electric-arc furnace and blast-furnace hybrid process, and improve profitability.* This article has been translated by AI. 2026-04-24 14:21:12
  • HD Hyundai Marine Solution Q1 Operating Profit Rises 12.5% to 93.4 Billion Won
    HD Hyundai Marine Solution Q1 Operating Profit Rises 12.5% to 93.4 Billion Won HD Hyundai Marine Solution, HD Hyundai’s marine-industry solutions unit, said Thursday it posted first-quarter revenue of 574.6 billion won and operating profit of 93.4 billion won. Revenue rose 18.3% from a year earlier and operating profit increased 12.5%. The company said growth in its core aftermarket parts and services business, along with higher sales from its bunkering business, drove the gains. Aftermarket revenue climbed 21.4% from a year earlier, led by sales tied to large engines and its mid-sized HiMSEN engines, the company said. It also cited new orders, including a maintenance contract for power-generation facilities for Ecuador’s state power company. Its digital solutions business also extended steady growth, with revenue up 33.3% year over year on a broader product lineup, including an integrated control system (ECS) applied to Anduril’s unmanned surface vessel, it said. Revenue in the eco-friendly solutions business fell due to a base effect from large-scale retrofit work in the year-earlier period, the company said. An HD Hyundai Marine Solution official said the company plans to further strengthen competitiveness in high value-added aftermarket businesses such as engines, and to expand its eco-friendly and digital businesses to upgrade its portfolio. The official said the opening of a logistics hub in Singapore will help improve global supply-chain efficiency and strengthen customer responsiveness.* This article has been translated by AI. 2026-04-24 14:20:02
  • Dongkuk Steel Group posts 21.4 billion won Q1 operating profit, returns to black
    Dongkuk Steel Group posts 21.4 billion won Q1 operating profit, returns to black Dongkuk Steel said it posted first-quarter 2026 revenue of 857.2 billion won, operating profit of 21.4 billion won and net profit of 6.2 billion won on a separate K-IFRS basis. In a regulatory filing on Thursday, the company said revenue rose 5.2% from the previous quarter, operating profit jumped 2,886.2%, and net income swung to a profit. From a year earlier, revenue increased 18.1%, operating profit rose 403.9%, and net profit climbed 153.3%. Dongkuk Steel said the earnings improvement reflected its strategy to expand exports globally. It said higher export volumes led to increased production and sales of long steel products. The company said it plans to adjust the share of export sales flexibly this year in response to shifts in domestic demand. Dongkuk CM reported first-quarter 2026 revenue of 494.4 billion won, operating profit of 11.2 billion won and net profit of 10.3 billion won on a separate K-IFRS basis. Revenue rose 7.4% from the previous quarter, and both operating profit and net profit returned to the black. From a year earlier, revenue fell 6.1% and operating profit declined 25.9%, while net profit increased 6.1%. Dongkuk CM, which has a high share of exports, said it returned to profit by improving earnings through price increases and cost controls despite worsening market conditions, high tariffs and stronger protectionism. It said it realized gains by reducing sales of low-margin products and expanding production and sales of premium materials such as Luxteel and Appsteel. Separately, the government this month approved provisional anti-dumping duties of up to 33.67% on galvanized and color steel sheets from China. The move is expected to curb inflows of low-priced Chinese products and increase the use of high-quality domestically made steel for construction materials. The decision follows anti-dumping duties on heavy plate and hot-rolled products and is significant for completing a broader protection framework across the domestic steel value chain, including upstream and downstream processes. 2026-04-24 13:55:13
  • SK Signs Two MOUs With Vietnam to Support AI Ecosystem and Infrastructure
    SK Signs Two MOUs With Vietnam to Support AI Ecosystem and Infrastructure SK is moving to cooperate with Vietnam on building an AI industry ecosystem and core AI infrastructure. SK said April 24 that it signed two memorandums of understanding a day earlier in Hanoi at the Korea-Vietnam Business Forum — one with the government of Nghe An province and another with Vietnam’s National Innovation Center (NIC) — to support the creation of an AI ecosystem. The signing ceremony was attended by Kim Jung-kwan, South Korea’s minister of trade, industry and energy, and Ngo Van Tuan, Vietnam’s finance minister. SK participants included Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry; Choo Hyung-wook, CEO of SK Innovation; and Ryu Young-sang, CEO of SK Telecom. Vietnamese attendees included Nguyen Khac Than, party secretary of Nghe An province; Vo Trong Hai, chairman of the Nghe An People’s Committee; and Vu Quoc Huy, director of the NIC. SK said the cooperation is intended to support Vietnam’s national AI strategy, with SK positioned as a key partner. The company said it expects the effort to lay groundwork for its first overseas expansion of a “Korean-style AI full-stack” model, linking AI data center construction and stable power supply to AI model development and testing and the spread of industry-specific AI services. SK Innovation and SK Telecom signed an MOU with the Nghe An provincial government to cooperate on building an AI data center and related infrastructure. SK said the plan is centered on linking the project to SK Innovation’s Quynh Lap LNG power project, including power supply and the development of dedicated generation sources. SK Telecom said it will review development, construction and operation of an AI data center based on that foundation and seek to secure global demand. The Quynh Lap LNG project is a large-scale energy infrastructure development that includes a 1,500-megawatt combined-cycle gas power plant, an LNG terminal and a dedicated port, with completion targeted for 2030. The companies also signed a separate MOU with the NIC to cooperate broadly on building an AI ecosystem, including AI data center construction, energy infrastructure development and establishing a policy foundation. SK Telecom will handle technology cooperation and attracting investment, while SK Innovation will provide energy solutions. SK described the effort as an overseas expansion of its “AI full-stack provider” strategy, integrating a value chain spanning semiconductors, data centers, power and energy, and AI services. Ahead of the forum, Chey said at a business meeting that “AI will play a key role in Vietnam’s sustained growth,” adding that SK has capabilities across the AI ecosystem — from energy and semiconductors to AI models and application services — and “will make a tangible contribution to the development of Vietnam’s AI industry.” An SK official said the group has maintained cooperation with Vietnam since the 1990s, starting with oil development under the late Chairman Chey Jong-hyun, and expanding into areas including energy, information and communications, investment and social contributions. The official said SK will use the AI cooperation to further strengthen ties as a key partner in Vietnam’s national AI strategy.* This article has been translated by AI. 2026-04-24 10:05:48