Journalist

Shin Jia
  • 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
  • Hyundai Steel Wins South Korea’s First KOLAS Recognition for Cryogenic Tensile Testing
    Hyundai Steel Wins South Korea’s First KOLAS Recognition for Cryogenic Tensile Testing Hyundai Steel said Wednesday it has become the first company in South Korea’s steel industry to receive Korea Laboratory Accreditation Scheme, or KOLAS, recognition in cryogenic materials testing, a key area for next-generation energy storage facilities. Its Pohang testing center recently received international accredited testing-lab recognition from KOLAS, an accreditation body under the Korean Agency for Technology and Standards, for cryogenic tensile testing. KOLAS accreditation is an international certification system that recognizes the competence of testing, calibration and inspection bodies under global standards. Test reports bearing KOLAS accreditation are recognized as equivalent in 104 member countries of the International Laboratory Accreditation Cooperation, or ILAC, and are widely seen as a marker of technical credibility. Hyundai Steel said the accreditation is also the first case in South Korea to meet test requirements under what it described as the world’s most stringent standards for LNG storage tank design and construction. The recognition covers not only the test itself but also strict temperature-control conditions. Cryogenic tensile testing is a required quality-verification process that evaluates how steel reinforcement withstands impact and loads in extreme cold of minus 165 degrees Celsius or lower. The company said the work demands precise control, including managing temperature deviation at the center of the specimen, meeting required holding times after reaching cryogenic temperatures, and controlling strain rate. Because of those requirements, domestic companies had relied on overseas specialized labs such as the Luxembourg Institute of Science and Technology, or LIST, for cryogenic testing. Hyundai Steel said it has localized the capability with its own technology, strengthening technical self-reliance. With the accreditation, Hyundai Steel said it can now provide a one-stop solution, from producing materials to issuing internationally recognized test reports. It also said it can sharply cut the time needed to issue certificates, which typically took three months or longer, helping shorten delivery schedules. The company said the capability is expected to be especially useful in LNG terminal projects. It said Korea Gas Corp. and Doosan Enerbility have been reported to highly value the ability to conduct fast and accurate verification in South Korea without relying on overseas institutions. A Hyundai Steel official said the KOLAS recognition shows the company is evolving beyond a steel supplier into a technology company that provides customers with trust and safety. “Through continuous R&D and more advanced testing and analysis capabilities, we will become a premium partner that customers seek out first,” the official said.* This article has been translated by AI. 2026-02-12 10:24:00
  • Chinese steel prices hit 8-week low, weighing on South Korean mills
    Chinese steel prices hit 8-week low, weighing on South Korean mills SEOUL, February 11 (AJP) - China’s steel prices have fallen to an eight-week low, heightening concerns that South Korea’s steel industry could face mounting pressure amid new European carbon rules and rising domestic electricity costs. Rebar futures slipped below 3,060 yuan ($425) per ton on Monday, their lowest level in two months, according to Trading Economics. The decline comes as Chinese steelmakers scale back production ahead of the extended holiday shutdown, while blast furnace and electric-arc furnace operators conduct scheduled maintenance. Parts of Hebei province may also impose temporary output curbs due to air pollution alerts. Weaker domestic demand and falling futures prices typically lead Chinese producers to lower export offers, weighing on prices across Asian markets, including South Korea. Domestic steel prices in South Korea often adjust more slowly, leaving producers squeezed between stable production costs and delayed price declines. Meanwhile, iron ore inventories at major Chinese ports climbed to about 162 million tons last week, the highest level since 2022, suggesting stockpiles remain elevated even after mills completed pre-holiday restocking. Analysts warn surplus material could be cleared through exports into regional markets, potentially rerouted via Southeast Asia and ultimately adding pressure to South Korea’s steel distribution sector. South Korean producers are simultaneously preparing for the European Union’s Carbon Border Adjustment Mechanism (CBAM), which requires exporters to report embedded carbon emissions and, from 2026, purchase certificates covering those emissions. The Korea Chamber of Commerce and Industry estimates the scheme could cost South Korea’s steel sector more than 3 trillion won ($2.3 billion) over the next decade. Domestic cost pressures are also rising. The government plans to lower industrial electricity rates during daytime hours while raising nighttime tariffs and introducing regional rate differences. Such changes are expected to particularly affect electric-arc furnace operators, for whom electricity represents a major share of production costs. Although industrial power consumption has fallen to a five-year low, Korea Electric Power Corp. has posted record revenue, prompting industry complaints about elevated power costs. “Despite rising concerns over industrial electricity rates, companies are continuing efforts to strengthen technological competitiveness in preparation for the EU’s CBAM,” a steel industry official said. “We also need to closely monitor how China’s price decline could affect the domestic market over the medium to long term.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-11 08:32:15
  • China Steel Prices Hit 8-Week Low, Adding Pressure on South Korean Mills
    China Steel Prices Hit 8-Week Low, Adding Pressure on South Korean Mills China’s steel prices have fallen to an eight-week low ahead of the Lunar New Year holiday, raising concerns that South Korea’s steel industry could face a three-way squeeze as the European Union’s Carbon Border Adjustment Mechanism, or CBAM, takes effect and the South Korean government moves to raise industrial electricity costs and introduce region-by-region pricing. Trading Economics said Feb. 10 that rebar futures fell below 3,060 yuan (about 650,000 won) a ton, the lowest level in eight weeks. The drop came as Chinese steelmakers cut operations ahead of the extended holiday shutdown. Blast furnaces and electric arc furnaces in China also halted production for scheduled maintenance, and parts of Hebei province could face temporary curbs under air-pollution alerts. Weaker Chinese demand and softer futures prices tend to push down export prices for Chinese steel, adding downward pressure across Asian markets and on steel distribution prices in South Korea. When Chinese prices bottom out, South Korean prices often adjust later, leaving South Korean producers facing unchanged costs while selling prices fall with a lag. Iron ore inventories at major Chinese ports reached about 162 million tons last week, the highest level since 2022. The buildup suggests port stockpiles remain elevated even after mills finished pre-holiday restocking. The accumulated inventory could be pushed into Asian markets through “dumping” exports, including possible indirect shipments to South Korea via Southeast Asia, potentially disrupting South Korea’s steel distribution market. South Korea’s steel industry is also bracing for the EU’s CBAM, designed to prevent carbon leakage. Under the system, steel exporters must report emissions data for exported products and later pay carbon costs. The Korea Chamber of Commerce and Industry has estimated that CBAM could leave South Korea’s steel industry paying more than 3 trillion won in carbon certificate costs over the next 10 years. Separately, the government has said it plans to lower industrial electricity rates during the day and raise them at night, and has outlined a plan to differentiate electricity rates by region. The changes are expected to weigh more heavily on steelmakers centered on electric arc furnaces, where power costs make up a larger share of production costs. Industrial power sales have fallen to a five-year low, but Korea Electric Power Corp.’s sales revenue has hit a record high, fueling complaints in the steel industry about high industrial electricity rates. A steel industry official said companies are continuing efforts to strengthen technological competitiveness to prepare for CBAM despite concerns over steadily rising industrial electricity rates. The official said the impact of falling Chinese steel prices on the domestic market should be watched over the medium to long term under multiple scenarios.* This article has been translated by AI. 2026-02-11 05:03:00
  • South Koreas GS Group posts strong 4Q profit, but full-year earnings slip
    South Korea's GS Group posts strong 4Q profit, but full-year earnings slip SEOUL, February 10 (AJP) - South Korea’s GS Group reported stronger fourth-quarter earnings on improved refining margins, although full-year profit declined as weakness in petrochemicals and power generation weighed on results. In a regulatory filing on Monday, GS said fourth-quarter revenue rose 1.4 percent from a year earlier to 6.49 trillion won, while operating profit jumped 23.3 percent to 767.2 billion won. For full-year 2025, however, revenue slipped 0.3 percent to 25.18 trillion won and operating profit fell 4.9 percent to 2.93 trillion won. Energy affiliate GS Caltex led quarterly gains, posting a 136.5 percent surge in fourth-quarter operating profit to 653.4 billion won, while revenue rose 2.5 percent to 11.75 trillion won. For the full year, operating profit increased 61.3 percent to 884 billion won despite a 6.3 percent decline in revenue to 44.63 trillion won. GS Caltex said refining performance improved in the fourth quarter as product margins strengthened despite falling crude prices. Oil prices declined amid expectations of increased supply following higher OPEC output, but disruptions at overseas refineries and seasonal demand helped widen product spreads, supporting profits. GS Energy, another key subsidiary, reported fourth-quarter revenue of 1.66 trillion won and operating profit of 701.9 billion won, up 18 percent and 65 percent respectively from a year earlier. Within GS Energy, however, performance diverged by business segment. Power and district heating operations saw revenue fall 15 percent to 402.4 billion won, with operating profit declining 22 percent to 55.4 billion won due to lower electricity prices. A GS official said overall performance in 2025 was weighed down by persistently weak petrochemical margins amid global oversupply and softer demand, while profitability at power-generation affiliates declined. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-10 17:16:56
  • HD Korea Shipbuilding & Offshore posts 2025 operating profit of 3.9045 trillion won, up 172.3%
    HD Korea Shipbuilding & Offshore posts 2025 operating profit of 3.9045 trillion won, up 172.3% HD Korea Shipbuilding & Offshore, the intermediate holding company for HD Hyundai’s shipbuilding business, said Monday in a regulatory filing that its 2025 consolidated revenue rose 17.2% from a year earlier to 29.9332 trillion won, while operating profit jumped 172.3% to 3.9045 trillion won. Fourth-quarter revenue increased 13.8% to 8.1516 trillion won, and operating profit rose 108% to 1.0379 trillion won from the same period a year earlier, it said. By affiliate, HD Hyundai Heavy Industries posted 2025 revenue of 17.5806 trillion won and operating profit of 2.0375 trillion won. HD Hyundai Samho reported revenue of 8.0714 trillion won and operating profit of 1.3628 trillion won. HD Hyundai Mipo reported third-quarter cumulative revenue of 3.7186 trillion won and operating profit of 358.7 billion won. Ship-engine affiliate HD Hyundai Marine Engine reported revenue of 402.4 billion won and operating profit of 75.9 billion won, citing higher engine volumes and increased parts sales. Solar affiliate HD Hyundai Energy Solutions posted revenue of 492.7 billion won and operating profit of 41.2 billion won on higher domestic and overseas sales volumes and a recovery in selling prices. By business segment, the shipbuilding unit reported revenue up 13.4% to 25.0365 trillion won and operating profit up 119.9% to 3.3149 trillion won, driven by higher build volumes, a larger share of high-priced ship sales and continued productivity gains from process efficiency. The engine and machinery segment reported revenue of 4.2859 trillion won and operating profit of 774.6 billion won, supported by increased marine-engine sales, a higher share of eco-friendly, high value-added engines and improved results in engine parts. The offshore plant segment posted revenue of 1.2436 trillion won and operating profit of 137.9 billion won, returning to profit from a year earlier as work expanded on existing projects. “Solid performance is continuing across affiliates, including shipbuilding and engines, based on competitiveness in each business area,” a company official said. “With a stable order backlog, we will enhance profitability through a selective order strategy.” 2026-02-09 14:15:00
  • LG Energy Solution to Buy Stellantis Stake, Take Full Control of NextStar Energy
    LG Energy Solution to Buy Stellantis Stake, Take Full Control of NextStar Energy LG Energy Solution said Thursday it will convert its Canadian joint venture with Stellantis, NextStar Energy, into a wholly owned subsidiary by acquiring Stellantis’ 49% stake. NextStar Energy began producing batteries for energy storage systems, or ESS, in late November. LG Energy Solution said it plans to run the Canadian plant this year as a production hub to target the North American ESS market. The company is expected to benefit from improved profitability because it will receive investment subsidies from the Canadian government on its own, as well as subsidies equivalent to the U.S. Advanced Manufacturing Production Credit, or AMPC. LG Energy Solution said the two companies will keep their partnership intact after the deal. Stellantis will continue to receive electric vehicle batteries from the Canadian plant as previously planned even after selling its stake. With the acquisition, LG Energy Solution will operate three ESS production bases in North America, following its plants in Holland and Lansing, Michigan. It plans to nearly double ESS production capacity by the end of this year to 60 gigawatt-hours globally, including more than 50 GWh in North America. NextStar Energy is in stable mass production and plans to more than double ESS battery output this year. Chief Executive Officer Kim Dong Myung said the Canadian site strengthens the company’s growth foundation in North America. “We will not only respond quickly to surging ESS demand, but also secure additional North America-based customers and build our position to play a key role in the EV industry,” he said. * This article has been translated by AI. 2026-02-06 16:54:00