Korea Zinc to form joint venture with US firm to produce rare earths SEOUL, January 13 (AJP) - Korea Zinc said Tuesday it has signed a strategic partnership with U.S.-based Alta Resource Technologies to produce rare earths. The partnership focuses on recycling and refining end-of-life permanent magnets into high-purity rare-earth oxides, materials used in electric vehicles, wind turbines and defense systems, Korea Zinc said in a press release. Under the agreement, the two companies will establish a joint venture in the United States and build production facilities at an existing site operated by a U.S. subsidiary of Korea Zinc. The joint venture aims to begin commercial operations in 2027. The initial phase of the project is designed to process and produce about 100 tons a year of high-purity rare-earth oxides, with plans to expand capacity in stages. Targeted products include neodymium, praseodymium, dysprosium and terbium oxides, which are key inputs for high-performance permanent magnets. The deal reflects growing concerns over economic security and supply-chain concentration. More than 90 percent of global rare-earth refining capacity is currently located in China, a dominance that has left manufacturers vulnerable to export controls, production disruptions and volatile prices. Korea Zinc said the goal is to establish a stable supply of rare-earth oxides for customers in South Korea and the United States, supporting industries such as electric-vehicle motors, renewable energy equipment and defense technologies. Korea Zinc is currently pursuing plans to build an integrated smelter in the United States to meet rapidly rising demand for critical minerals. Alta Resource Technologies has developed advanced biochemical separation technology for rare earths and recently completed a Series A fundraising round. Through the partnership with Korea Zinc, the company plans to scale a U.S.-based business model focused on producing rare-earth oxides from secondary resources available domestically, according to Korea Zinc. Choi Yun Beom, chairman of Korea Zinc, said the partnership marks “an important milestone” as the strategic value of rare earths continues to rise. He said the company aims to supply rare-earth materials reliably to advanced-technology firms in South Korea and the United States while positioning itself as a trusted supply-chain partner. 2026-01-13 10:47:09

US Navy ship arrives in Busan for repair work by HJ Shipbuilding SEOUL, January 12 (AJP) - HJ Shipbuilding & Construction said Monday that the 40,000-ton U.S. Navy logistics support ship USNS Amelia Earhart arrived at its Yeongdo shipyard in Busan, marking the start of the company’s first maintenance, repair and overhaul, or MRO, project for the U.S. Navy. The South Korean shipbuilder secured the MRO contract in December from the U.S. Navy Supply Systems Command, or NAVSUP. The vessel is assigned to the Military Sealift Command. The Amelia Earhart measures 210 meters in length and 32 meters in width. HJ Shipbuilding said the ship is capable of supplying up to 6,000 tons of ammunition, food and dry cargo, along with 2,400 tons of fuel, to major U.S. Navy vessels, including combat ships. The company said it will begin full-scale work this month, including inspections and maintenance of onboard equipment and facilities, and plans to return the ship to the U.S. Navy in March. With the deal with, HJ Shipbuilding became the third South Korean shipbuilder — after Hanwha Ocean and HD Hyundai Heavy Industries — to perform MRO work for the U.S. Navy. The company estimates the global naval MRO market at about 79 trillion won annually, with the U.S. Navy accounting for roughly 20 trillion won of that total. HJ Shipbuilding said expectations for the domestic shipbuilding industry are rising following approval by the Trump administration of the MASGA project, a South Korea-U.S. cooperation initiative, and the U.S. Navy’s “Golden Fleet” plan, which aims to counter China’s expanding naval capabilities. The company also pointed to the U.S. Defense Department’s adoption of a Regional Sustainment Framework, or RSF, which seeks to improve efficiency and turnaround times by leveraging allied shipyards in the Indo-Pacific for MRO work previously conducted in the United States. HJ Shipbuilding said it plans to use the Amelia Earhart project as a foothold to sign a Master Ship Repair Agreement, or MSRA, with the U.S. Navy. Such an agreement would allow the company to expand its MRO business beyond logistics vessels to include combat ships and frigates. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-12 15:18:06

South Korea's HMM installs wind-assist propulsion system on oil tanker SEOUL, January 12 (AJP) - HMM said Monday it has become the first South Korean shipping company to deploy a Wing Sail wind-assist propulsion system, as vessel operators seek to curb fuel costs and comply with tightening environmental rules. Wind-assist propulsion systems harness wind power to supplement conventional engines and are regarded as an environmentally friendly technology. They are typically installed on vessels without deck cargo and have been adopted primarily by bulk carriers and tankers. The Wing Sail, developed by HD Korea Shipbuilding & Offshore Engineering, generates lift in a manner similar to an aircraft wing. The structure stands about 30 meters high and 10 meters wide. HMM installed the system on its 50,000-deadweight-ton MR tanker Oriental Aquamarine, which entered service with the technology on Jan. 5. Depending on weather and operating conditions, the company said the system could cut fuel consumption by up to 20 percent. Lower fuel use also reduces carbon emissions, helping ships comply with an expanding set of environmental regulations, including the Carbon Intensity Indicator, greenhouse-gas fuel-intensity standards and the European Union’s FuelEU Maritime rules. HMM said it plans to evaluate the system’s performance over the next two years using operational data. If the results meet expectations, the company may expand the technology across its bulk fleet. An HMM official said the deployment adds another emissions-reduction measure to the company’s bulk fleet, following similar efforts in its container fleet. "This reflects our broader push to improve both the scale and efficiency of shipping operations," the official said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-12 09:35:55

South Korea's second ESS tender nears as Samsung SDI leads and rivals press safety pitch SEOUL, January 10 (AJP) - With just three days left until the proposal deadline, South Korea’s major battery makers are stepping up efforts to win contracts in the second round of the country’s centralized energy storage system (ESS) tender, highlighting safety and technology as key selling points. Industry sources said on Friday that LG Energy Solution, Samsung SDI and SK On will all submit bids for the tender, with proposals due by Jan. 12 and final selections expected in February. The second ESS project totals 540 megawatts — 500 MW on the mainland and 40 MW on Jeju — with total costs estimated at about 1 trillion won. The facilities are scheduled for completion by December 2027. In the first round, Samsung SDI secured 76 percent of the total volume, while LG Energy Solution took the remainder. SK On failed to win any contracts. Industry officials attributed the outcome in part to Samsung SDI’s strong score in industrial contributions, including domestic production. Fire safety has emerged as a decisive factor in the second tender. The weighting for price evaluation has been lowered to 50 percent from 60 percent, while non-price criteria now account for 50 percent, up from 40 percent. Within that category, points allocated to fire safety were raised to 11 from six. The change is seen as favoring Samsung SDI, which has long emphasized battery safety. The company is promoting its ESS fire-prevention technology and domestic manufacturing base. Its nickel-cobalt-aluminum (NCA) prismatic batteries produced at its Ulsan plant are structurally durable and designed to limit the spread of fires, giving them an edge in safety assessments. Samsung SDI has also highlighted its integrated ESS solution, the Samsung Battery Box (SBB), which recently won a Korea Technology Award for advances in fire safety and cost-reduction technology. The SBB integrates batteries and safety systems into a single 20-foot container. LG Energy Solution, meanwhile, is pitching the safety of its lithium iron phosphate (LFP) batteries, which are known for strong heat resistance and for releasing little oxygen — a key factor in reducing fire and explosion risks. The company said it is the only South Korean battery maker with a large-scale LFP mass-production system and is ramping up domestic output at its Ochang Energy Plant in North Chungcheong Province, a move expected to bolster its score for industrial contribution. SK On, which failed to secure contracts in the first tender, is under pressure to gain ground this time. The company is moving to establish an LFP production line for ESS use, planning to convert part of its electric-vehicle ternary battery facility in Seosan, South Chungcheong Province, to serve the ESS market. Han Se-kyung, a professor of electrical engineering at Kyungpook National University, said the second centralized ESS tender is likely to split volumes among established players rather than allow one company to dominate. “As the weight for price evaluation falls and non-price criteria rise, safety will become a more important factor,” Han said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-10 11:02:45

Hanwha chairman visits Jeju space center, underscores private space ambitions SEOUL, January 08 (AJP) - Hanwha Group Chairman Kim Seung-youn visited the firm's Jeju Space Center on Thursday, underscoring the conglomerate’s push to build a private-sector space industry ecosystem. The Jeju center, located in Seogwipo on Jeju Island, is a key base for the group's space business. Kim toured satellite production and testing facilities and received briefings on this year’s business plan and Hanwha’s broader space operations. “The Jeju Space Center is not just a workplace, but the present and future of Hanwha’s space ambitions,” Kim said during the visit, adding that space “opens a path only to those who never stop challenging.” The chairman's son, Hanwha Vice Chairman Kim Dong-kwan, who oversees the group’s space business, joined senior executives for the visit. After touring an exhibition hall, Kim Seung-youn met researchers working at the center and inspected clean-room facilities while wearing protective gear. Speaking to employees, Kim said Hanwha’s goal of launching satellites built with its own technology had been realized through the successful fourth launch of South Korea’s Nuri space rocket. He added that following work on a lunar orbiter, the group is now developing a propulsion system for a lunar lander, positioning Hanwha as a leading private-sector player in South Korea’s space industry. Kim urged employees to help develop the Jeju Space Center into a forward base for the country’s space industry, working alongside regional space clusters in Jeju, Goheung, Suncheon and Changwon. He said their efforts would help lay the foundation for South Korea to become one of the world’s top five space powers. Hanwha said its investments have expanded space-related operations at Hanwha Aerospace and Hanwha Systems, spanning launch vehicles, satellites and lunar exploration. Hanwha Aerospace is building on Nuri launch-vehicle technology, while Hanwha Systems is focusing on satellite systems and related technologies. 2026-01-08 14:55:42

HD Hyundai Heavy another US Navy ship repair contract SEOUL, January 07 (AJP) - HD Hyundai Heavy Industries has secured another maintenance, repair and overhaul (MRO) contract from the U.S. Navy, this time for a logistics support vessel assigned to the Navy’s 7th Fleet. The company said on Wednesday it recently won a regular overhaul project for the 41,000-ton cargo ship USNS Cesar Chavez, which was commissioned in 2012, without revealing the value of the contract. HD Hyundai Heavy Industries said it will begin work on Jan. 19 at a pier in Ulsan. The overhaul will cover more than 100 items, including repairs to the hull and structures, propulsion systems, electrical equipment and auxiliary machinery. The company plans to complete the work and deliver the vessel to the U.S. Navy in March. The contract follows the company’s completion of MRO work on the USNS Alan Shepard, its first U.S. Navy ship overhaul project, which was awarded in August. The Alan Shepard departed earlier this week after undergoing repairs. HD Hyundai Heavy said the initial Alan Shepard contract covered about 60 repair items, but the scope expanded significantly after an additional 100 items were identified during the overhaul process, extending the work schedule and substantially increasing the contract value. Ju Won-ho, president of HD Hyundai Heavy Industries, said the company’s successful completion of its first U.S. Navy MRO project demonstrated its technological capabilities and operational expertise. "We plan to further strengthen efficiency and capacity to expand its presence in the U.S. naval ship MRO market," he said. 2026-01-07 13:49:46

Korean shipbuilders ride eco-friendly, LNG vessels to stronger earnings outlook SEOUL, January 07 (AJP) - South Korea’s three major shipbuilders are expected to post profits for a second consecutive year, with momentum likely to carry into 2026 as demand for high-value, eco-friendly vessels remains strong, analysts said. Expectations have also risen that orders for liquefied natural gas (LNG) carriers and special-purpose ships could flow to Korean yards as the South Korea-U.S. shipbuilding cooperation initiative known as MASGA moves into full operation. According to consensus data compiled by financial information provider FnGuide, the combined operating profit of HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean and Samsung Heavy Industries is estimated at 6.18 trillion won ($4.7 billion) for 2025. HD Korea Shipbuilding & Offshore Engineering is projected to generate operating profit of 4 trillion won. Hanwha Ocean is forecast to post 1.32 trillion won, while Samsung Heavy Industries is expected to earn about 871 billion won. All three companies met their annual order targets last year, returning to profitability and improving margins after a prolonged downturn that began in the mid-2010s. Analysts attribute the turnaround to a strategy of selectively securing high-value contracts, particularly for LNG carriers, alongside improvements in cost structures. That trend is expected to persist this year. "With MASGA moving into a full-scale phase, LNG carrier orders are expected to increasingly concentrate at Korean shipyards," an industry source said. Market sentiment has also been supported by remarks from U.S. President Donald Trump about working with South Korean companies on building new frigates for the U.S. Navy. Naval and special-purpose vessels are widely viewed as having higher technological barriers and more stable profitability than commercial ships. An expansion of orders in defense and special-purpose vessels, alongside LNG carriers, would further diversify shipbuilders’ order books, analysts said. Order targets for this year reflect that confidence. HD Korea Shipbuilding & Offshore Engineering has set an annual order target of $23.31 billion for its shipbuilding and offshore businesses, about 29 percent higher than last year’s goal. The company said it will continue to focus on high-value projects, including LNG carriers, eco-friendly vessels and offshore plants. Hanwha Ocean and Samsung Heavy Industries, which both met their targets last year, have also signaled plans to maintain steady order intake centered on LNG carriers and offshore projects. A persistently weak won is expected to further support earnings, as most shipbuilding contracts are denominated in U.S. dollars. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-07 09:03:12

HD Korea Shipbuilding lands $1 billion ultra-large LNG carrier deal SEOUL, January 06 (AJP) - HD Korea Shipbuilding & Offshore said on Tuesday it has secured its first order of the year, signing a contract to build four ultra-large liquefied natural gas (LNG) carriers worth a combined 1.5 trillion won ($1.03 billion). Each vessel will have a cargo capacity of 200,000 cubic meters and measure 294.8 meters in length, 48.9 meters in width and 26.7 meters in height. The ships will be built at HD Hyundai Heavy Industries’ shipyard in Ulsan and delivered in stages by the first half of 2029. Compared with conventional 174,000-cubic-meter LNG carriers, the larger vessels can transport more cargo per voyage, reducing unit transportation costs, the company said. They will also be equipped with features including a high-efficiency shaft generator and an LNG reliquefaction system to improve operational efficiency. Clarksons Research, a U.K.-based shipping and shipbuilding consultancy, said global LNG carrier orders are expected to remain active this year as new LNG projects advance and demand grows to replace aging vessels. Separately, HD Hyundai Heavy Industries said it has delivered a 22,000-cubic-meter liquefied carbon dioxide carrier to Greece-based Capital Clean Energy Carriers. The vessel, named ACTIVE, is the first of four such carriers ordered from the shipbuilder in 2023 and 2024. An HD Korea Shipbuilding & Offshore official said the company plans to accelerate the development of environmentally friendly technologies as the market expands, while continuing to focus on securing orders for high-value vessels. The company said it set its shipbuilding and offshore order target for this year at $23.31 billion. 2026-01-06 14:12:41

[[CES 2026]] South Korea's Doosan Bobcat showcases voice-controlled machinery LAS VEGAS, January 06 (AJP) - South Korean construction equipment maker Doosan Bobcat unveiled next-generation equipment technologies at CES 2026 on Tuesday, highlighting artificial intelligence-based solutions aimed at improving productivity on jobsites. Vice Chairman Scott Park and Joel Honeyman, executive vice president for global innovation, presented AI-driven systems designed to simplify machine operation, reduce downtime and help equipment adapt to complex work environments. Among the new technologies is what the company described as the compact equipment industry’s first AI-based voice-control system, the “Bobcat Jobsite Companion.” The system allows operators to use voice commands to control more than 50 functions, including equipment settings, engine speed, lighting and radio controls. Doosan Bobcat said the system can also recommend optimal settings based on the task and attachments in use. Built on the company’s proprietary large language model, Jobsite Companion provides real-time responses and runs as an onboard AI model, allowing it to operate even when network connectivity is limited. “Jobsite Companion lowers the barrier for new operators while helping experienced operators work faster and more accurately,” Honeyman said. “It’s not just smart technology — it’s a smart experience that provides expert guidance from the driver’s seat.” The company also introduced “Service.AI,” an integrated support platform for dealers and technicians. The system combines repair manuals, warranty data, diagnostic guides and a database of previous service cases to help shorten repair times and reduce equipment downtime. It can be accessed through text or voice commands. In addition, Doosan Bobcat showcased a modular, fast-charging standard battery pack known as “BSUP,” a concept machine dubbed RogueX3, a collision warning and avoidance system, and next-generation operator displays. Doosan Bobcat said the technologies are designed as part of a single, integrated solution ecosystem, with many developed for future commercialization. The company plans to display them at the Doosan Group booth at CES. 2026-01-06 10:15:22

South Korea's Iljin Electric secures largest-ever power equipment deal, valued at $150 million SEOUL, January 05 (AJP) - South Korea's Iljin Electric said on Monday it has signed its largest-ever single supply contract in the United States, bolstering its presence in the North American power equipment market. The company said in a press release that it recently secured a transformer supply deal worth about 198 billion won ($150 million) for a new project by a major U.S. renewable energy developer. Under the contract, Iljin Electric will supply 24 transformers through the third quarter of 2029. The order represents its biggest single contract in the U.S. market and marks its first supply of 525-kilovolt extra-high-voltage transformers for a renewable energy project, the company said. The U.S.-based contractor, whose name was withheld due to confidentiality agreement, is pursuing multiple large-scale renewable energy and energy storage system projects across the country and has worked with Iljin Electric as a strategic partner on renewable projects over the past six years. Iljin Electric said the contract reflects growing confidence in the company’s technology and product quality. “Building on this order, we aim to further strengthen our position in the North American extra-high-voltage power equipment market and secure additional contracts focused on high value-added products,” the company said. 2026-01-05 14:05:41