Dismantling work begins on South Korea's long-shuttered nuclear reactor SEOUL, November 04 (AJP) - Doosan Enerbility has begun dismantling South Korea’s first commercial nuclear reactor, which was shut down in 2017. The company said on Tuesday that it signed a contract with Korea Hydro & Nuclear Power to remove non-controlled area facilities at the Kori Unit 1 plant, located near the southeastern city of Busan. The project represents the first phase of dismantling Kori Unit 1, which began operations in 1978 and was permanently shut down in 2017 due to safety concerns. The government approved its final decommissioning plan in June, paving the way for physical dismantling work to begin. Doosan Enerbility, leading a consortium with HJ Heavy Industries and KEPCO KPS, will remove secondary systems — including turbines, piping and auxiliary equipment — by 2028. The signing ceremony in Seoul was attended by Jo Seok-jin, vice president of Korea Hydro & Nuclear Power, and Kim Jong-doo, president of Doosan Enerbility’s nuclear business group. “This project carries historical significance as the first dismantling of a commercial nuclear power plant in Korea,” Kim said in a statement. “We are committed to leveraging our decades of expertise to ensure its safe and successful completion.” Doosan Enerbility has positioned the project as a springboard for expanding its presence in the global nuclear decommissioning market. According to the International Atomic Energy Agency, the number of reactors permanently shut down worldwide is projected to rise from 214 to 588 by 2050, as more countries retire aging nuclear facilities. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 15:13:51

LG Chem, China's Sinopec to co-develop sodium-ion battery materials SEOUL, November 04 (AJP) - South Korea’s LG Chem said Tuesday it has formed a partnership with China’s largest energy and chemical company, Sinopec, to develop key materials for next-generation sodium-ion batteries, a technology seen as a promising alternative to lithium-based systems. The two companies signed an agreement on Oct. 30 to jointly research and produce cathode and anode materials for sodium-ion batteries, known as SIBs. The collaboration aims to strengthen supply chain stability and improve cost competitiveness as global demand for electric vehicles and energy storage grows. Sinopec, a state-run energy giant with operations spanning oil and gas exploration, refining, petrochemicals, and new energy, has increasingly turned its focus toward advanced materials and cleaner technologies. For LG Chem, the partnership underscores its ambition to expand its portfolio beyond lithium-ion batteries, which currently dominate the electric vehicle market. Sodium-ion batteries offer several advantages over their lithium counterparts: the raw materials are more abundant and less expensive, performance remains stable in colder temperatures, and the technology poses lower safety risks. Analysts view them as particularly well-suited for large-scale energy storage systems and lower-cost electric vehicles. Global sodium-ion battery capacity is expected to expand from about 10 gigawatt hours in 2025 to 292 gigawatt hours by 2034, according to industry data. China is projected to account for more than 90 percent of production by the end of the decade. LG Chem and Sinopec plan to explore various business models in the sodium-ion sector, targeting applications in grid-scale storage and affordable electric vehicles while also expanding into eco-friendly energy and high-value chemical materials. “As a leading global battery materials company, LG Chem has provided differentiated solutions in the global battery market,” said Shin Hak-cheol, the company’s chief executive, in a statement. “Our collaboration with Sinopec will help us develop next-generation battery materials on time and strengthen our portfolio in line with future customer strategies.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 10:02:31

HS Hyosung acquires Belgium's battery materials company for $145 million SEOUL, November 03 (AJP) - South Korea's HS Hyosung Group said Monday it has entered the next-generation battery materials market with the acquisition of EMM, the battery anode subsidiary of Belgium’s Umicore, for about 200 billion won, or roughly $145 million. The deal also includes the creation of a joint venture between the two companies to advance silicon anode technology. Umicore, specialized in materials science, has long been known for its expertise in battery components, catalysts, and semiconductor materials, as well as its historic role in early nuclear research — its facilities once hosted Marie Curie’s experiments on radon and uranium, according to HS Hyosung. The acquisition positions HS Hyosung at the forefront of efforts to commercialize silicon anodes, a technology widely regarded as the next leap in electric vehicle batteries. Silicon anodes can store more than 10 times the energy density of traditional graphite anodes, potentially slashing charging times and boosting vehicle range and efficiency. The investment reflects Vice Chairman Cho Hyun-sang’s push to strengthen Hyosung’s portfolio through core technologies and intellectual property, while integrating artificial intelligence into the company’s manufacturing and materials businesses. Cho reportedly led negotiations with Umicore, visiting Belgium several times to finalize the deal. HS Hyosung said it plans to invest 1.5 trillion won over the next five years to scale up production, beginning at its Ulsan facility. The expansion is expected to create high-value jobs and enhance South Korea’s competitiveness in the global battery supply chain. “Our goal is to build a foundation for the next generation of energy materials,” the company said in a press release. “This partnership will allow us to accelerate innovation in silicon anodes and strengthen our global position.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 16:54:52

HD Hyundai Heavy to develop submarines for Peruvian Navy SEOUL, November 03 (AJP) - South Korea's HD Hyundai Heavy Industries has signed a letter of intent with Peru’s state-run SIMA shipyard to jointly develop a new class of submarines for the Peruvian Navy, in what could become one of its most significant defense export ventures in Latin America. The agreement, announced Monday, builds on a series of accords between the two countries over the past year. It follows a memorandum of understanding signed at the APEC summit in Peru last November and a memorandum of agreement reached during the SITDEF defense exhibition in April. The letter of intent, timed to coincide with the APEC 2025 in Gyeongju, lays the groundwork for a final contract on submarine development and construction. At the signing ceremony were Joo Won-ho, president of HD Hyundai Heavy Industries, Teresa Mera, Peru’s minister of trade and tourism, and Adm. Bravo de Rueda, commander of the Peruvian Navy. Under the agreement, the two companies will discuss cooperation in design, production, and technology transfer, as well as broader industrial partnerships. The aim is to conclude a formal development contract later this year, with Peruvian engineers working alongside HD Hyundai teams at the company’s Ulsan shipyard to design submarines tailored to Peru’s naval requirements. The deal builds on an existing collaboration: HD Hyundai and SIMA are already constructing four naval vessels, including frigates and patrol ships, part of a broader effort to modernize Peru’s maritime capabilities. The partnership also includes training programs intended to bolster Peru’s shipbuilding workforce and expand local production capacity. “The joint construction of four surface vessels has strengthened Peru’s shipbuilding industry and deepened bilateral cooperation,” Joo said in a statement. “This submarine project will take that partnership to the next level, enhancing the Peruvian Navy’s operational capabilities.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 10:17:56

Samsung SDI works with BMW, Solid Power of US to develop next-generation EV batteries SEOUL, October 31 (AJP) - Samsung SDI said Friday it has entered a three-way partnership with BMW and U.S.-based Solid Power to develop and test solid-state batteries for electric vehicles, deepening a long-running collaboration with the German automaker as the global race to commercialize next-generation batteries intensifies. Under the agreement, the three companies will work together to improve the energy density and safety of solid-state batteries using Solid Power’s proprietary solid electrolytes. BMW will design and assemble battery modules and packs for installation in its next generation of electric vehicles. Unlike conventional lithium-ion batteries, which use liquid electrolytes, solid-state batteries rely on solid materials to conduct ions. The technology promises greater safety and higher energy density, which could allow electric vehicles to travel farther on a single charge while reducing overall battery weight. The collaboration combines Samsung SDI’s manufacturing expertise, BMW’s engineering capabilities, and Solid Power’s materials technology, with the shared goal of accelerating the commercialization of solid-state batteries and building a global supply chain. Samsung SDI and BMW have maintained a close partnership since 2009, with Samsung serving as a key supplier of battery cells for BMW’s electric and plug-in hybrid models. “Battery technology drives electric vehicle innovation,” said Ko Ju-young, vice president of Samsung SDI’s battery business team. “We will continue to lead in solid-state battery commercialization with partners like BMW and Solid Power.” Samsung SDI has been steadily expanding its solid-state battery development efforts. The company established a pilot production line at its Suwon R&D center in March 2023 and began producing sample cells later that year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-31 09:59:43

OPINION: Embracing 'creative destruction' in South Korea's shipping industry SEOUL, October 30 (AJP) - This year’s Nobel Prize in Economics celebrated the power of innovation and sustainable growth through the lens of “creative destruction.” Co-recipient Prof. Peter Howitt underscored the need for a competitive environment that enables market leaders to keep innovating — a concept rooted in Joseph Schumpeter’s classic theory that progress is driven as much by destruction as by creation. That message resonates deeply with South Korea’s shipping industry, which is struggling to adapt to what many call the “Big Blur” era — when traditional industry boundaries are dissolving. Global giants like Amazon and Tesla have already transcended their original domains, evolving into platforms designed to solve complex customer problems. Yet South Korea’s shipping sector remains bound by convention, held back by resistance to mergers and acquisitions and a deep-seated wariness toward outside capital. The global landscape tells a starkly different story. Over the past two decades, the world’s leading shipping companies have expanded aggressively through M&A, consolidating their power and reshaping global logistics. Today, the top 10 players control roughly 84 percent of the world’s container capacity. Scale and integration have become prerequisites for survival. Against this backdrop, the planned privatization of HMM — the nation’s flagship carrier — is more than a question of ownership. It is a test of whether South Korea can move beyond its traditional view that only “shipping experts” can manage a shipping company. Such thinking risks isolating the industry at a time when cross-sector collaboration is the engine of global competitiveness. Elsewhere, the lines between manufacturing, logistics, and finance have long blurred. Germany’s Deutsche Post DHL and Denmark’s Maersk have both built integrated logistics ecosystems, creating resilient structures that can weather economic turbulence. South Korea’s shipping industry, by contrast, has struggled to escape the shadow of its past. The collapses of Hanjin Shipping and Hyundai Merchant Marine were not just business failures — they were symptoms of an industry that resisted change until it was too late. If HMM is to avoid a similar fate, it must embrace creative destruction and the discipline of private ownership. Clinging to old models, protecting vested interests, and erecting barriers to competition may feel like safety — but only in the short term. In the long run, such strategies erode competitiveness and innovation. The industry’s future depends on openness, flexibility, and diversification. As the saying goes, “Those who build walls perish; those who build roads prosper.” South Korea’s shipping industry must stop building walls around itself and instead build the roads that connect technology, capital, and service into a unified logistics platform. What the industry needs now is not fear of disruption but the courage to pursue it. Breaking down boundaries and reshaping industrial order is not a threat — it is the path to renewal. The question is whether South Korea’s shipping leaders will have the will to chart that course before the tide turns against them once again. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-30 08:54:17

Global leaders gather for APEC CEO Summit SEOUL, October 29 (AJP) - Global business moguls and other leaders gathered for talks at the CEO Summit as part of the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju, which kicked off on Wednesday. The multilateral business roundtable, hosted by the Korea Chamber of Commerce and Industry (KCCI), is the largest ever, featuring more sessions, speakers, and high-level attendees. President Lee Jae Myung, along with leaders from major businesses like electronics giant Samsung's Lee Jae-yong and automaker Hyundai's Chung Eui-sun, attended the opening ceremony. Secretary-General of the Organisation for Economic Co-operation and Development (OECD) Mathias Cormann was also present, along with many international business figures. Now in its 30th year, the four-day gathering features 1,700 global business leaders from 21 Asia-Pacific countries and will wrap up with a keynote by Jensen Huang, CEO of NVIDIA on Friday. This year's theme focuses on connecting businesses and governments to build a better future, covering topics like artificial intelligence (AI), finance, and carbon neutrality. KCCI Vice Chairman Park Il-jun said, "Through this event, South Korea will be able to solidify its position as a key partner in global economic cooperation and emerge as a leading hub for the AI industry." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 14:48:12

Weak EV sales push Samsung SDI deeper into the red SEOUL, October 28 (AJP) - South Korea's Samsung SDI reported a fourth consecutive quarterly loss on Tuesday, as a downturn in electric vehicle demand and trade headwinds in the United States continued to weigh on the South Korean battery maker’s earnings. The company logged an operating loss of 591.3 billion won, or about $430 million, in the July–September period, pushing its cumulative deficit above 1 trillion won for the year. Revenue fell 22.5 percent from a year earlier to 3.05 trillion won, while net income plunged 97.5 percent to 5.7 billion won. Battery sales, which make up the bulk of Samsung SDI’s business, declined 23.2 percent from a year earlier to 2.82 trillion won. The segment reported an operating loss of 630.1 billion won, reflecting weaker sales of electric vehicle batteries and the impact of U.S. tariffs on energy storage products. Samsung SDI said it expected performance to improve in the final quarter of the year, supported by a rebound in the European electric vehicle market and stronger demand for energy storage in the United States. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-28 13:52:22

HD Hyundai chairman signals possible US shipyard acquisition SEOUL, October 27 (AJP) - HD Hyundai Chairman Chung Ki-sun said Monday the company is considering acquiring a shipyard in the United States, signaling a more assertive global expansion strategy under his new leadership. “We are well-prepared for U.S.-Korea shipbuilding collaboration and are considering acquiring a U.S. shipyard,” Chung told reporters after delivering a keynote address at the APEC CEO Summit’s Future Tech Forum in Gyeongju. His participation in the forum marked his first public appearance since taking over as chairman on Oct. 17, succeeding HD Hyundai’s professional management system and ushering in a third generation of family leadership. Chung said the proposed acquisition would align with the Make American Shipbuilding Great Again (MASGA) project, a Korea-U.S. joint initiative aimed at bolstering cooperation in advanced shipbuilding and defense technologies. Chung also addressed speculation about a possible visit by U.S. President Donald Trump to HD Hyundai’s shipyard in Ulsan this week, saying, “Nothing is decided yet, but it could happen anytime.” At the keynote address, Chung said, since assuming the chairmanship, he has focused on uniting the group’s workforce and advancing innovation across its business units. He called for a “global innovation alliance” to leverage artificial intelligence for sustainable shipping, digital manufacturing, and the broader maritime industry. Highlighting HD Hyundai’s technological capabilities, Chung noted that its subsidiary Avikus became the world’s first company to achieve autonomous navigation across the Pacific Ocean three years ago — a milestone he said is reshaping the future of marine operations. The company, he added, is addressing skilled labor shortages by developing “smart shipyards” equipped with advanced robotics and plans to introduce humanoid robots in the near future. The Future Tech Forum, part of the APEC CEO Summit, gathered global business leaders, policymakers, and academics to discuss trends shaping the next generation of industries. HD Hyundai opened the forum, which features sessions on shipbuilding, defense, retail, artificial intelligence, digital assets, and future energy through Oct. 30. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 15:58:10

South Korea's Rainbow Robotics to make shipbuilding robots for Samsung Heavy SEOUL, October 24 (AJP) - Samsung Heavy Industries said on Friday that it has partnered with Rainbow Robotics to develop artificial intelligence–powered welding robots, part of the shipbuilder’s broader push to automate production and build a “smart shipyard” for the future. Under the agreement, Samsung Heavy will provide operational data and testing environments for the robots, while Rainbow Robotics will handle hardware development and technical support. The companies aim to produce lightweight, mobile robots capable of welding complex block structures — including inside confined spaces and on sloped surfaces. Samsung Heavy already deploys more than 90 types of automated equipment and robots across its shipyards for tasks such as block welding, painting, liquefied natural gas cargo welding, and pipe inspection. In September, the company also began 24-hour operations at its newly automated steel-cutting plant, which runs without human operators. The collaboration marks another step in Samsung Heavy’s strategy to integrate artificial intelligence and robotics into its manufacturing processes as it seeks to enhance productivity and address labor shortages. “We are confident that our partnership with Rainbow Robotics will strengthen our automation technology and boost construction competitiveness,” said Kim Jin-mo, vice president for future business development at Samsung Heavy. “We will actively pursue the integration of AI and robotics to expand their applications and commercialization.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 14:28:37