Korea Zinc weighs US strategic mineral smelter: reports SEOUL, December 15 (AJP) - Korea Zinc is considering building a strategic mineral smelter in the southeastern United States, according to media reports, on Monday. The world’s largest non-ferrous metal smelting company convened an emergency board meeting at its Seoul headquarters to discuss the potential project, which could involve investment from the U.S. Department of Defense and local defense-related investors, according to industry sources. The proposed smelter would position Korea Zinc as a key partner in the U.S.-led push to diversify rare earth and critical mineral supplies, following China’s tightening of export controls on key materials. Shares of Korea Zinc rose more than 10 percent to 1,672,000 won as of 10:55 a.m. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 10:57:10

Australia allows Hanwha to increase stake in strategic shipbuilding firm SEOUL, December 12 (AJP) - Hanwha Group has secured approval from the Australian government to increase its stake in Austal, a global shipbuilding and defense contractor, to 19.9 percent, the company said Friday. Austal, which operates major shipyards in the United States, builds vessels for the U.S. Navy and is considered a strategic defense asset by the Australian government. Hanwha sees the stake expansion as a step toward strengthening its shipbuilding capabilities and deepening its presence in the U.S. defense market. Australian Treasurer Jim Chalmers said the Foreign Investment Review Board had recommended “no objection” to Hanwha lifting its shareholding from 9.9 percent to 19.9 percent under strict conditions designed to protect national security. He emphasized that Hanwha will not be allowed to exceed the 19.9 percent threshold. Hanwha described the investment as a strategic move to expand collaboration with Austal. The South Korean conglomerate began pursuing the shipbuilder last year but faced an initial rejection in April 2024. It later acquired a 9.9 percent stake through off-market purchases by Hanwha Systems and Hanwha Aerospace in March. Hanwha subsequently sought approval from both Australian and U.S. authorities to further raise its stake. In June, the U.S. Committee on Foreign Investment cleared the company to increase its holding up to 100 percent. As Austal is a designated strategic shipbuilder, any foreign ownership changes require authorization from both governments. Hanwha said it plans to use the approval to integrate Hanwha Ocean’s shipbuilding capabilities with Austal’s global operations, aiming to generate broader synergies across its defense and marine businesses. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-12 14:38:46

Major offshore wind farm comes online, boosting Korea's clean energy push SEOUL, December 11 (AJP) - SK Innovation E&S said Thursday it has completed Jeonnam Offshore Wind Farm 1, the country’s largest privately financed offshore wind project, marking a milestone for South Korea’s efforts to expand renewable energy and meet its carbon-neutrality targets. A completion ceremony was held in Sinan, attended by Climate and Energy Minister Kim Sung-hwan, South Jeolla Province Governor Kim Young-rok and SK Innovation E&S President Lee Jong-soo. The fixed-bottom wind farm, located about 9 kilometers northwest of Sinan’s Jaeun Island, has an installed capacity of 96 megawatts. Equipped with 10 9.6MW turbines, it is expected to generate roughly 300 million kilowatt-hours of electricity annually — enough to power around 90,000 households — and cut carbon emissions by an estimated 240,000 tons per year compared with coal-fired generation, the company said. The project began in 2020 as a joint venture between SK Innovation E&S and Denmark-based Copenhagen Infrastructure Partners (CIP). It secured major permits in 2022, started construction in March 2023 and entered commercial operation in May 2025. Jeonnam Offshore Wind Farm 1 is the first renewable-energy project in South Korea to use non-recourse project financing, a structure that industry officials say could pave the way for greater private-sector participation in large-scale clean-energy developments. Its completion is expected to accelerate progress on an 8.2GW offshore wind complex planned near Imja Island — billed as the world’s largest — which aims for full operation by 2035. SK Innovation E&S and CIP plan to break ground on additional phases from 2027, targeting a combined 900MW capacity by 2031. “The completion of Jeonnam Offshore Wind Farm 1 is a meaningful step for the domestic offshore wind industry, contributing to carbon neutrality and strengthening regional cooperation,” said Lee Jong-soo, president of SK Innovation E&S. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 10:16:50

SK Gas, POSCO form alliance to lead push for hydrogen ecosystem SEOUL, December 10 (AJP) - SK Gas and POSCO Holdings have launched a new industry alliance aimed at building a domestic blue hydrogen ecosystem in South Korea, as companies and public institutions move to accelerate the transition to lower-carbon energy. The “K-Blue Hydrogen Alliance” was inaugurated on Wednesday at the POSCO Center in Seoul, bringing together 15 organizations including SK Ecoengineering, POSCO, the Korea Agency for Infrastructure Technology Advancement, the Korea Institute of Industrial Technology and Korea Gas Corporation. The alliance seeks to commercialize blue hydrogen technologies and establish a Korean industrial ecosystem, as blue hydrogen — produced from natural gas with carbon capture — gains traction as a lower-emissions alternative in hard-to-abate sectors. The initiative follows an August forum hosted by the partners to discuss the role and scalability of blue hydrogen with academic and industry experts. The alliance will serve as a platform for joint research, policy coordination and industry collaboration. Under the agreement, members will focus on advancing hydrogen production technologies, carrying out demonstration projects and developing business models, while laying the foundations for a domestic industrial base. From next year, the alliance plans to conduct detailed technical and market studies, hold regular working-level meetings and finalize strategic cooperation frameworks among participants. “The launch of this alliance marks a new milestone for Korea’s hydrogen industry,” said Kim Chul-jin, vice president of SK Gas, adding that the group would work to build a comprehensive domestic blue hydrogen ecosystem. Kim Ki-soo, chief technology officer of POSCO Holdings, said the alliance would focus on delivering practical and verifiable results to support the country’s industrial energy transition. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-10 14:20:56

HJ Shipbuilding launches four patrol boats for South Korean Navy SEOUL, December 08 (AJP) - HJ Shipbuilding held a launch ceremony on Monday for four domestically built high-speed patrol boats, strengthening South Korea’s coastal defense capabilities. The vessels were built under a 2022 contract with the Navy as part of the PKX-B Batch-II program. The ceremony took place at the company’s Yeongdo Shipyard in Busan and was attended by senior defense and industry officials, including Rear Adm. Ahn Sang-min, acting head of the ship project division at the Defense Acquisition Program Administration, and HJ Shipbuilding Chief Executive Yoo Sang-cheol. The new boats, designated PKMR-class patrol vessels, are set to replace the aging Chamsuri-class fleet. They are equipped with advanced combat management systems, 130 mm guided rocket launchers, electronic warfare suites and anti-missile systems. The vessels use waterjet propulsion to operate effectively in shallow waters and are built with reinforced armor, shock-resistant structures and stealth features to reduce detectability and improve combat resilience. HJ Shipbuilding said it had previously delivered 16 vessels under the PKX-B Batch-I project and has secured contracts for all 12 ships under the Batch-II program. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-08 10:32:06

South Korea's HD Hyundai to build shipyard in India's Tamil Nadu SEOUL, December 08 (AJP) - HD Hyundai said Monday it plans to build a new shipyard in India’s southern state of Tamil Nadu, strengthening its presence in one of the world’s fastest-growing maritime markets as New Delhi seeks to become a major global shipbuilding power. The South Korean shipbuilder said it signed an exclusive memorandum of understanding with the Tamil Nadu state government in Madurai. India is promoting the “Maritime Amrit Kaal Vision 2047” strategy, aiming to rank among the world’s top five shipbuilding nations. The federal government is reviewing plans for new shipyards across five coastal states, including Tamil Nadu, which has selected HD Hyundai as its partner for the project. Thoothukudi, a major port area in southern Tamil Nadu, is under review as a potential site. The region has a climate similar to Ulsan, South Korea, and is seeing increased port and industrial investment. Global manufacturers including Hyundai Motor and Samsung Electronics already operate in the area. HD Hyundai is also expanding cooperation with India’s state-owned industries. The company recently signed an agreement with BEML, a state-owned heavy equipment maker headquartered in Bengaluru, to jointly expand its crane business. Under the deal, the two sides will cooperate on crane design, manufacturing and quality control to strengthen India’s domestic production of port and shipbuilding equipment. HD Hyundai plans to supply large Goliath and jib cranes to Indian shipyards. The company has already begun supplying large-scale equipment. In February, HD Hyundai Samho delivered a 600-ton crane to Cochin Shipyard. In August, HD Korea Shipbuilding & Offshore Engineering acquired HD Hyundai Ecobina from Doosan Enerbility, expanding its crane portfolio. “India’s strong commitment to developing its shipbuilding sector presents significant growth opportunities,” HD Hyundai said in a press release. “We aim to deepen cooperation in the maritime sector as a new growth driver.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-08 09:47:11

SK's battery recycling technology published in international journal SEOUL, December 05 (AJP) - South Korea's SK Innovation said Friday its lithium iron phosphate (LFP) battery recycling technology has been published in the international journal Separation and Purification Technology. The company said conventional recycling processes for LFP batteries have struggled with environmental and cost burdens, including byproduct treatment and wastewater generation. Its newly developed method uses only water, carbon dioxide and hydrogen peroxide to selectively extract high-purity lithium carbonate, eliminating the need for harsher chemicals. SK Innovation described the process as an eco-friendly solution that overcomes long-standing challenges in LFP recycling. The company expects the technology to support the broader battery ecosystem by reducing environmental impact while enabling more efficient resource recovery. SK On, SK Innovation’s battery-making unit, is preparing to manufacture pouch-type LFP cells for EVs and energy storage system applications. As LFP adoption accelerates, industry officials say securing stable recycling channels — particularly for lithium recovery — has become a critical element of supply-chain resilience and cost competitiveness. “This achievement surpasses the limitations of existing battery recycling methods and is a key technology for sustainable battery market growth,” said Kim Pil-seok, head of SK Innovation’s Environmental Science and Technology Institute. “By stably recovering high-purity lithium carbonate, we aim to mitigate lithium supply risks and expand collaboration with domestic and international battery makers and recyclers.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-05 16:01:29

Samsung Heavy signs deals in US to boost role for MASGA SEOUL, December 05 (AJP) - Samsung Heavy Industries is deepening its shipbuilding cooperation with the United States, targeting next-generation naval support ships and liquefied natural gas (LNG) vessels as part of an expanded push into the U.S. market. At the International WorkBoat Show in New Orleans this week, Samsung signed a three-way business cooperation agreement with U.S. shipbuilder General Dynamics NASSCO and South Korean engineering firm DSEC. The agreement covers collaboration in ship design, equipment supply, and workforce development, and includes plans to jointly bid for the U.S. Navy’s next-generation support ship program. The new support vessels are intended to boost the Navy’s rapid mobility and enhance its ability to deliver fuel, ammunition and supplies at sea. San Diego–based NASSCO, a major U.S. naval and commercial shipbuilder, operates five shipyards across four states. DSEC has worked with NASSCO for two decades, a longstanding partnership that Samsung says will help strengthen synergy among the three companies. Samsung also signed a memorandum of understanding with Conrad Shipyard to jointly construct LNG bunkering vessels. Conrad, which runs five yards in Louisiana and Texas, builds and repairs a wide range of vessels, including barges and tugboats. The tie-up aims to accelerate Samsung’s entry into the U.S. LNG transport and bunkering market. “Our 50 years of shipbuilding expertise will be amplified through Korea-U.S. shipbuilding cooperation, accelerating technology exchange and workforce development to bolster the competitiveness of U.S. shipbuilding,” Samsung Heavy Industries said in a statement. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-05 09:13:59

South Korea's Doosan Bobcat files 14 patent suits against US machinery maker Caterpillar SEOUL, December 03 (AJP) - Doosan Bobcat’s North American unit has filed a series of patent infringement lawsuits against U.S. construction machinery maker Caterpillar. The company said Wednesday it has lodged complaints covering 14 patents with the U.S. District Court for the Eastern District of Texas, the U.S. International Trade Commission, the Unified Patent Court in Europe, and a federal court in Germany. “The patents in this lawsuit protect unique features of our construction equipment, including mobility, performance and precision,” a Doosan Bobcat spokesperson said. “We initiated this action to safeguard our patented technologies and ensure fair competition in the market.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-03 10:55:36

Korea fast-tracks special laws to rescue steel and petrochemical sectors SEOUL, December 03 (AJP) - South Korea’s steel and petrochemical industries are coming under renewed strain amid a global economic slowdown and intensifying competition from China, prompting the government to move quickly on targeted legislation to stabilize two of the country’s most critical industrial pillars. Following the recent passage of the K-Steel Act, the Petrochemical Industry Competitiveness and Support Act is also expected to clear the National Assembly soon, according to multiple officials on Dec. 2. The twin laws mark one of the most interventionist industrial policy moves in years, reflecting rising deficits, weak margins and partial production shutdowns across the sector. Calls for a legal framework have grown louder as companies including Lotte Chemical and HD Hyundai Chemical submit restructuring plans. The special legislation is designed to smooth corporate overhaul processes and provide government backing for a shift toward higher-value production. Under the K-Steel Act, the steel industry is designated as essential to national security and economic stability, enabling broader support for R&D, investment and supply-chain management. It also establishes a special committee under the Prime Minister to coordinate industrial strategy and allows limited antitrust exemptions for joint investment and cooperation projects—an unusual step that underscores the severity of current pressures. The petrochemical bill goes further on financial and regulatory support, offering tax incentives, policy loans, regulatory easing and workforce retraining to facilitate restructuring. Such sector-specific laws are rare in Korea and typically reserved for moments of significant structural or geopolitical risk. The push comes as the U.S.–China tech rivalry reshapes global trade flows and China’s massive capacity expansion shifts it from a net petrochemical importer to a price-setting producer. This has depressed global margins and intensified competition for Korean firms. Despite a mild pickup in export volumes this year, profitability remains depressed due to price falls. Domestic petrochemical plants operated at 70–80 percent capacity in the first half, with operating margins sliding steadily since 2022. To avert deeper losses, the government recently urged companies to cut ethylene output by 2.7–3.7 million tons. Industry officials expect the pending legislation to accelerate overdue restructuring. “Once the special laws go into effect, companies will finally be able to push ahead with long-delayed restructuring and efficiency upgrades,” said one industry official, noting that follow-up support and policy consistency will determine the effectiveness of the overhaul. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-03 09:30:58