Journalist

Lee Nak-yeon
  • Doosan to Invest 180 Billion Won to Build CCL Production Base in Thailand for AI Demand
    Doosan to Invest 180 Billion Won to Build CCL Production Base in Thailand for AI Demand Doosan Corp. is setting up a new production base in Thailand to get ahead of rising demand for copper-clad laminate, or CCL, driven by the expansion of artificial intelligence data centers. The company said Tuesday it will establish a new local entity and build a CCL plant at the Araya Industrial Park in the Bang Bo area of Samut Prakan province. Total investment will be about 180 billion won. The site will cover about 73,000 square meters. Doosan plans to break ground within this year and aims to begin mass production in the second half of 2028. It said it will consider phased capacity expansions in line with demand to improve investment efficiency. The Thailand plant will mainly produce high-performance CCL for AI infrastructure and network equipment, the company said, adding it expects strong growth as global demand expands. Doosan cited logistics and operational stability as key reasons for choosing the site. The industrial park is about a 30-minute drive from Suvarnabhumi International Airport and about an hour from Laem Chabang port. The company also said the newer complex has operating infrastructure and disaster-response systems that support stable production. CCL is a sheet made by laminating copper foil onto both sides of an insulating material and is a core base material for printed circuit boards, or PCBs. Doosan said AI accelerators, which must process massive amounts of data at very high speeds, require high-performance CCL that minimizes signal loss and resists deformation in high-temperature operating environments. As investment in AI data centers grows worldwide, demand for high-performance CCL is rising rapidly, it said. Doosan said it has built competitiveness in CCL on materials technology accumulated over the past 50 years, including an edge in designing the “optimal composition ratio” among materials that determines CCL quality. “We decided to expand production capacity to respond in a timely way to growing CCL demand,” a Doosan official said. “We will monitor market conditions and flexibly review whether additional investment is needed.”* This article has been translated by AI. 2026-04-29 16:23:20
  • Samsung Heavy Industries Becomes First Shipbuilder to Earn Zero Waste to Landfill Certification
    Samsung Heavy Industries Becomes First Shipbuilder to Earn Zero Waste to Landfill Certification Samsung Heavy Industries said it has strengthened its environmental, social and governance efforts by raising the recycling rate of waste generated at its shipyard. The company said it held a ceremony on the 28th at its Geoje shipyard after receiving UL Solutions’ “Zero Waste to Landfill (ZWTL)” certification. Attendees included Namgung Geum-seong, vice president and head of the shipyard, and Yoon Hye-jin, executive director of UL Solutions Korea, the company said. ZWTL is an environmental certification awarded based on the share of a site’s waste that is recycled rather than sent to landfill, and is used globally to gauge corporate efforts in resource circulation. Samsung Heavy Industries said shipbuilding has faced challenges in resource circulation because it generates a wide range of waste that can be difficult to process. It said it earned the certification after continuing to improve its waste-management system to increase recycling. The company said it overhauled its sorting system by classifying all waste by type and characteristics under its own procedures. It also linked manual sorting to mechanical sorting to raise recovery rates for recyclable materials. It said it further upgraded management by working with the environment office and the Korea Environment Corporation on technical cooperation and professional consulting, and by building a real-time monitoring system. In March, Samsung Heavy Industries said it also became the first in the industry to receive “circular resource recognition” from the Nakdong River Basin Environmental Office for four types of nationally managed waste: slag, dust, waste wood and waste expanded synthetic resin (Styrofoam). The recognition is a government system that allows waste to be treated and, if it is not harmful to health or the environment and can be traded for a fee, to be recognized as a circular resource. “ZWTL and circular resource recognition show the results of Samsung Heavy Industries’ efforts to recycle waste,” Namgung said. “We will further strengthen our resource-circulation system.”* This article has been translated by AI. 2026-04-28 14:30:50
  • Lotte Energy Materials to Invest 50 Billion Won to Expand Iksan Circuit Foil Plant
    Lotte Energy Materials to Invest 50 Billion Won to Expand Iksan Circuit Foil Plant Lotte Energy Materials said Monday it will invest about 50 billion won to expand its Iksan plant, the country’s only production base for circuit foil, as it seeks to complete its materials value chain (Elecfoil-CCL-PCB-Module). The company said it decided on the investment to secure future competitiveness even as the electric-vehicle market, including the copper-foil sector, faces headwinds due to a demand slowdown. It cited rapid growth in artificial intelligence data centers as driving a surge in customer demand for HVLP (hyper-very-low-profile) copper foil used for high-speed signal transmission. Through the Iksan plant, Lotte Energy Materials said it is providing materials solutions that meet customer requirements for performance, reliability, mass-production capability and stable supply. The company said the expansion will support customers’ efforts to build more stable supply chains. Chief Executive Officer Kim Yeon-seop said the company made the decision “carefully” to pursue two goals: securing future competitiveness and restoring performance. “We will further strengthen customer trust by securing core materials technologies for the AI and network era and by stabilizing quality and supply through expanded production capacity,” he said.* This article has been translated by AI. 2026-04-28 14:18:45
  • HD Hyundai Electric Q1 2026 Operating Profit Rises 18.4% to 258.3 Billion Won
    HD Hyundai Electric Q1 2026 Operating Profit Rises 18.4% to 258.3 Billion Won HD Hyundai Electric said in a regulatory filing on the 28th that it posted first-quarter 2026 revenue of 1.0365 trillion won and operating profit of 258.3 billion won. Revenue rose 2.1% from a year earlier and operating profit climbed 18.4%. The operating margin was 24.9%. By product, growth was led by the power equipment segment. Power equipment revenue rose 21.6% from a year earlier, supported by expanded performance in North American power transformers. Revenue from rotating machinery increased 10.8% on strong demand for marine products. Revenue from distribution equipment fell 24.2%, the company said, citing a base effect from large distribution-transformer deliveries a year earlier and delayed shipments of low-voltage circuit breakers due to geopolitical risks in the Middle East. By market, North America revenue increased 26.6% from a year earlier, driving overall growth. In Europe, revenue fell from the previous quarter due to a high base but rose 17.0% from a year earlier. First-quarter orders totaled $1.797 billion, up 34.6% from a year earlier, meeting 42.6% of its annual order target of $4.222 billion. The order backlog stood at $7.888 billion, up 17.2% from the end of last year. An HD Hyundai Electric official said the company is maintaining a selective order strategy focused on profitability, while orders continue to rise on demand tied to the spread of AI data centers and replacement needs for aging power grids. The official said the company will complete expansions at its Ulsan plant and its North American production subsidiary without disruption to sustain solid growth. Separately, the company said it will pay a quarterly cash dividend of 1,300 won per common share. The total dividend is 46.8 billion won. The record date is May 13 and the payment is scheduled for May 27.* This article has been translated by AI. 2026-04-28 13:55:09
  • Chey Tae-won urges Korea-Japan economic bloc to compete in U.S.-China AI race
    Chey Tae-won urges Korea-Japan economic bloc to compete in U.S.-China AI race Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry and chairman of SK Group, on April 28 urged South Korea to pursue cooperation with Japan at a level approaching economic integration as a response to U.S.-China competition for dominance in artificial intelligence. Speaking at the Korea-China Parliamentary Association’s first 2026 policy seminar at the National Assembly Members’ Office Building, Chey said South Korea “must no longer remain a country that simply follows rules between the United States and China.” He argued that keeping influence in the rivalry will require strengthening technological competitiveness while also expanding the country’s economic reach. Chey described U.S.-China tensions as structural and unlikely to end quickly. “The U.S.-China hegemonic competition is highly likely to continue for decades,” he said, adding that South Korea should “coolly” assess whether it has enough strength to defend itself. As a practical alternative, he proposed strategic cooperation with Japan. “Japan has an industrial structure similar to ours and is a country with which we can share interests,” he said. “Beyond simple cooperation, we need solidarity at a level that is recognized from the outside as a single economic bloc.” He said combining the gross domestic product of South Korea and Japan would total about $6 trillion, or roughly one-third of China’s economy. At that scale, he said, the United States and China “would have no choice but to take it seriously.” Chey said stronger Korea-Japan ties could reshape the broader Asian order. He said that if the partnership deepens, Asian countries excluding China could be drawn toward joining an economic bloc centered on the two nations. Over the long term, he said, an “Asian-style community model” similar to the European Union could also be considered. Chey also listed key competitive factors in the AI era as capital, electricity, GPUs (graphics processing units) and memory, and stressed the need for investment to secure large-scale data centers and energy infrastructure. “To do AI well, you need the ability to produce AI, but South Korea currently does not have a great AI data center,” he said. To overcome that, he said, building 1 gigawatt would require about $50 billion in investment. As a strategy for success in the AI technology supremacy era, Chey cited “speed, scale and security.” He said products should be built quickly even if imperfect to attract users, and that a minimum scale must be secured. To do that, he said, it is necessary to follow the strategy of Nvidia, which currently leads the AI industry ecosystem. The Korea-China Parliamentary Association is a bipartisan parliamentary diplomacy platform made up of 145 lawmakers from both the ruling and opposition parties. It has continued policy discussions through seminars and parliamentary diplomacy across areas including foreign affairs, the economy, advanced industries and culture.* This article has been translated by AI. 2026-04-28 13:42:18
  • Daehan Petrochemical to Raise NCC Operating Rate to 72% From 62%
    Daehan Petrochemical to Raise NCC Operating Rate to 72% From 62% Daehan Petrochemical said April 28 it will proactively raise the operating rate of its naphtha cracking center (NCC) to 72% from 62%, in line with the government’s supply-chain stabilization policy. The company said it diversified supply lines to the United States and other sources immediately after the outbreak of war, minimizing disruptions in naphtha procurement. It also used a workaround strategy, buying basic petrochemical feedstocks such as ethylene and propylene to replace short naphtha supplies and using them to produce polyethylene (PE) and polypropylene (PP). Daehan Petrochemical said it expanded supplies of battery separator materials — where it holds the world’s top market share — by more than 60% from the previous month to support the competitiveness of South Korea’s battery industry. It also said it increased supplies of ethylene used to cut shipbuilding steel at shipyards, supporting stable operations in the shipbuilding sector. A company official said Daehan Petrochemical plans to actively expand procurement of raw materials such as naphtha and lift the NCC operating rate to 72% “even amid an unprecedented crisis in raw material supply.” The official added the company will continue to fulfill its responsibilities as a key national industry so there are no disruptions to downstream industries and daily life.* This article has been translated by AI. 2026-04-28 09:25:04
  • Samsung SDI posts 1Q 2026 operating loss of 155.6 billion won, narrows deficit 64.2%
    Samsung SDI posts 1Q 2026 operating loss of 155.6 billion won, narrows deficit 64.2% Samsung SDI posted a sixth straight quarterly operating loss in the first quarter, but sharply narrowed the deficit as demand improved in key end markets. The company said in a regulatory filing on 28 that first-quarter 2026 revenue rose 12.6% from a year earlier to 3.5764 trillion won. It reported an operating loss of 155.6 billion won, narrowing the loss 64.2% year over year. Net profit totaled 56.1 billion won, returning to the black. By business, the battery division posted revenue of 3.3544 trillion won and an operating loss of 176.6 billion won. The electronic materials division reported revenue of 222.0 billion won and operating profit of 21.0 billion won. In batteries, demand recovered for power energy storage systems, uninterruptible power supplies, battery backup units, power tools and other applications. Revenue rose 12.5% from a year earlier and the operating loss narrowed 61.0%. Samsung SDI said profitability improved on higher benefits from the Advanced Manufacturing Production Credit, supported by expanded U.S. production and sales of ESS batteries, and strong sales of higher-value cylindrical batteries. In electronic materials, semiconductor-material sales remained steady, while display-material sales rebounded on higher flagship smartphone sales by major mobile customers, improving results from a year earlier. Samsung SDI cited expanded ESS orders, diversification of customers and products in its electric-vehicle battery business, and efforts to strengthen future technology competitiveness as key drivers of the first-quarter improvement. In ESS, it said it won new projects for prismatic LFP batteries and signed a supply contract for high-output batteries for BBUs. It also said it built a materials supply chain in advance to respond to the U.S. "prohibited foreign entity" rules. In EV batteries, Samsung SDI said it signed a multiyear supply contract with Mercedes-Benz, securing all three of Germany’s major premium automakers as customers. It also said it won a project for tabless cylindrical batteries for hybrid electric vehicles, further diversifying its customer and product portfolio. The company said it expects results to improve gradually from the second quarter as demand recovery continues, though it warned uncertainty in the global business environment is likely to persist. For EV batteries, it expects demand to recover as subsidies expand in major European countries and total cost of ownership for internal-combustion vehicles rises. It said it will proceed with planned mass production for new projects without disruption and focus on restoring profitability by improving utilization rates. For ESS batteries, Samsung SDI said it will expand local mass production and sales in the United States to meet rising demand tied to the growth of AI data centers. It also plans to participate actively in South Korea’s centralized ESS contract market and next-generation grid-linked ESS projects. In small batteries, it said it will expand sales of differentiated products, including tabless and high-output batteries, reflecting continued growth in BBU and power-tool markets tied to increased AI data center construction and a recovery in micromobility demand. In electronic materials, it expects demand for semiconductor and OLED materials to continue on favorable industry conditions, and said it will pursue revenue growth by expanding sales of new semiconductor patterning materials and OLED materials. A company official said, "Uncertainty in the global business environment is expected to continue in the second quarter as well," but added, "We will execute response strategies by business segment without disruption and achieve a return to quarterly profit in the second half."* This article has been translated by AI. 2026-04-28 09:11:03
  • Korean Shipbuilders Ramp Up Offshore Wind Bets, but Grid and Port Infrastructure Lags
    Korean Shipbuilders Ramp Up Offshore Wind Bets, but Grid and Port Infrastructure Lags Domestic shipbuilders are accelerating into offshore wind as a new growth engine, but the infrastructure needed to support the industry is not keeping pace. While corporate investment is rising quickly, structural constraints that could slow broader expansion remain, industry officials say. According to the shipbuilding industry on the 27th, Hanwha Ocean has been among the most aggressive. The company said it held a board meeting that day and disclosed plans to participate in a paid-in capital increase at its wholly owned unit, Ocean E&I, by subscribing to 25,439,900 common shares. Ocean E&I is a Hanwha Ocean subsidiary set up for businesses related to operating a wind turbine installation vessel, or WTIV. A WTIV is a specialized ship used to install offshore wind turbines and is considered essential equipment for placing large turbines at sea. By funding the WTIV operating unit, Hanwha Ocean plans to expand beyond ship construction into installation and operations. Since December 2024, it has broadened its footprint by taking over wind power operations from Hanwha Corp. and carrying out work from project development to engineering and construction for onshore and offshore wind projects. In a 400-megawatt offshore wind project, the company said it directly handled site identification, power-generation permits and related approvals to build development capabilities. Last year, it also signed an EPC contract for the Shinan Ui offshore wind project to build a 390-megawatt offshore wind complex in waters southeast of Uido, Ui Island, in Sinan County, South Jeolla Province. HD Hyundai is focusing on producing floating platforms, or substructures, and offshore substations, and supplying power equipment. It has obtained certification for 15- and 18-megawatt floating platforms and developed a 500-megawatt large-scale offshore substation model, aiming to secure an early lead in Korea’s floating offshore wind market and take an active role in large complex development through 2030. Samsung Heavy Industries is concentrating on floating offshore wind, centered on semi-submersible substructure technology. The company said it obtained approvals in principle last year for a 15-megawatt large model, positioning it to compete in the sector. It is also strengthening exclusive supply cooperation on large floating wind complexes, including the Ulsan Firefly project, with global energy companies such as Equinor, as it seeks to bolster competitiveness in renewable energy. Shipbuilders say offshore wind is attractive because it closely aligns with their core capabilities. Shipyards already have design and manufacturing expertise for large structures, giving them an edge in producing offshore wind components. Strong cash flow from a boom in orders for liquefied natural gas carriers and ultra-large container ships has also supported investment in new businesses. The offshore wind market is widely seen as having strong growth potential as decarbonization drives large project orders, particularly in the United States and Europe. The International Energy Agency projects the global offshore wind market will grow about 13% annually to roughly 1,335 trillion won by 2040. South Korea’s offshore wind market is also expected to expand to as much as 200 trillion won by 2035. But industry participants say investment and policy updates are not keeping up with project timelines. A key constraint is a lack of grid capacity. Even after securing generation permits, projects often face delays connecting to the grid because of limited transmission capacity. Port infrastructure is another bottleneck. Wind towers, blades and substructures are oversized and extremely heavy, requiring dedicated berths and nearby space for storage and assembly. Many major domestic ports are still geared toward container and bulk cargo, leaving limited offshore wind-specific capability. Industry officials warn that if multiple large projects move forward at once, logistics bottlenecks could become a real risk. As a result, calls are growing to draw lessons from leading offshore wind countries such as Taiwan and the United Kingdom. Those countries have improved investment predictability by laying out long-term auction road maps and sharply streamlining permitting procedures. By contrast, uncertainty over policy direction and project schedules remains in South Korea. Developers say they need clear auction volumes and timelines, as well as grid-connection plans, to justify equipment investments that can run into the hundreds of billions of won, but predictability is still low. “Domestic shipbuilders have extensive experience in offshore plants and manufacturing large structures, so they are highly competitive in offshore wind as well,” an industry official said. “But the industry will not grow automatically just because companies invest first. A predictable policy environment must be put in place for the market to expand in earnest.”* This article has been translated by AI. 2026-04-27 18:33:02
  • Dongkuk Systems Named Nvidia Elite Partner in Compute Category
    Dongkuk Systems Named Nvidia Elite Partner in Compute Category Dongkuk Systems, the ICT affiliate of Dongkuk Steel Group, has been selected as a top-tier partner of Nvidia. The company said Monday it earned the Elite grade, the highest level, in the "Compute" category within the Nvidia Partner Network. Nvidia assigns partner grades based on technical capabilities and business performance. Dongkuk Systems said the Compute category is among the network’s most core competencies. Elite status is granted only to a small, vetted group of Nvidia partners worldwide. Dongkuk Systems joined the network in 2024 and was promoted to Elite from Preferred in about two years. The certification recognizes the company’s capabilities as an AI infrastructure specialist, including designing Nvidia’s latest graphics processing unit technology for enterprise use and building high-performance server infrastructure from large-scale data centers to manufacturing sites. The company said its ability to provide GPU-based accelerated computing platforms in on-premises and cloud environments was viewed favorably. With domestic demand for corporate AI transformation rising, Dongkuk Systems said it plans to expand support for AI infrastructure projects across major industries, including steel manufacturing as well as finance, manufacturing and the public sector. "This promotion is the result of Nvidia’s official recognition of our GPU technical capabilities and business performance," CEO Kim O-ryeon said. "We will strengthen our role as a partner that provides practical support for customers building AI infrastructure." * This article has been translated by AI. 2026-04-27 14:31:35
  • LG Chem Wins Top 10 Technology Excellence Award at Chinaplas 2026
    LG Chem Wins Top 10 Technology Excellence Award at Chinaplas 2026 LG Chem said April 27 it won a “Top 10 Technology Excellence Award” at Chinaplas 2026, a global plastics and rubber exhibition, for its specialty polyvinyl chloride material HRTP, a heat-resistant and recyclable thermoplastic. LG Chem was the only South Korean company among participants to receive the award. The company said the recognition reflects its push to move beyond commodity products and focus on higher-value, higher-performance materials, with results now being validated on the global stage. HRTP was also named “Innovation of the Year” at Chinaplas last year, giving the material two consecutive years of recognition at the exhibition. Judges cited the ultra-high polymerization HRTP’s strong flexibility, flame resistance and abrasion resistance, and said it has a solid base for applications including electric-vehicle charging cables. Based on PVC, which is often viewed as a general-purpose material, HRTP is designed to deliver heat resistance, flexibility and durability demanded by next-generation industries such as EVs and robotics. LG Chem said it can be used in EV charging cables and heat-resistant wiring for vehicles and robots, offering about 30% better flexibility than existing materials and stable performance in high-voltage, high-temperature conditions. The company said HRTP is also seeing growing use as an alternative to expensive materials in markets such as synthetic leather and seats for automobiles, due to its soft feel and abrasion resistance. It said HRTP achieves high performance without a crosslinking process that chemically locks the structure, and remains recyclable, meeting requirements for functionality, safety and sustainability. At the exhibition, LG Chem also won an excellence award for UNIQABLE™, an eco-friendly packaging material. Judges pointed to its clear effect in reducing plastic use and cited leading results in environmental protection and commercialization, the company said. LG Chem said it will continue shifting its petrochemical business from commodity products to high-value materials and strengthen customer-value-based materials competitiveness in growth industries including EVs, robots, mobility, electrical and electronics, and industrial materials. * This article has been translated by AI. 2026-04-27 14:24:16