Journalist

Lee nakyeong
  • HD Hyundai Wins First U.S. Navy Research Office Project Awarded to a South Korean Firm
    HD Hyundai Wins First U.S. Navy Research Office Project Awarded to a South Korean Firm HD Hyundai has won two core research projects from the U.S. Office of Naval Research, becoming the first South Korean company to secure such work and expanding cooperation with the U.S. Navy. The company said April 26 that it recently held a contract-signing ceremony with the Office of Naval Research, or ONR, for two projects related to improving naval vessel performance. ONR, part of the U.S. Department of the Navy, oversees science and technology research and development for the U.S. Navy and Marine Corps. The ceremony was held at ONR headquarters in Arlington, Virginia, with Jang Kwang-pil, vice president and head of the Future Technology Research Institute at HD Korea Shipbuilding & Offshore Engineering, and ONR Director Rachel Riley among those attending. Under the contracts, HD Hyundai will work on a project to improve naval vessel performance using artificial intelligence. Based on its digital ship technologies, HD Hyundai Heavy Industries and Seoul National University’s Department of Naval Architecture and Ocean Engineering, led by Professor Kim Yong-hwan, will jointly develop the technology. HD Hyundai also won a project to develop technologies to raise productivity in naval vessel construction, drawing on its advanced manufacturing capabilities. That research will be carried out by the Future Technology Research Institute at HD Korea Shipbuilding & Offshore Engineering. HD Hyundai said the ONR awards position it as a key partner for joint research with the U.S. Navy spanning naval vessel development through construction, and reflect U.S. recognition of its advanced technologies in the naval sector. Joo Won-ho, president of HD Hyundai Heavy Industries and head of its naval vessels and medium-sized ship business, said, “With this ONR project award as a turning point, we will further expand cooperation with the United States in the naval vessel field.” He added, “With pride as a national representative of South Korea, we will devote our full efforts to expanding the reach of K-marine defense industry.”* This article has been translated by AI. 2026-04-26 09:15:14
  • Doosan Enerbility Seeks Foothold for Vietnam Nuclear Project, Led by Chairman Park Ji-won
    Doosan Enerbility Seeks Foothold for Vietnam Nuclear Project, Led by Chairman Park Ji-won Doosan Enerbility said it is expanding its global push by securing a foothold to take part in Vietnam’s planned new nuclear power projects, led by Chairman Park Ji-won. The company said Thursday that Park and other top executives joined President Lee Jae-myung’s business delegation during his visit to Vietnam and discussed cooperation on new nuclear power plants with Vietnamese government officials and key figures in the energy industry. Park attended a business roundtable and business forum in person, the company said. Vietnam plans to build Ninh Thuan nuclear power plant units 1 and 2 by 2035. Russia has won the contract for Unit 1, while bidding for Unit 2 is still underway. The combined project is valued at about 30 trillion won. Vietnam also plans to secure an additional 8 gigawatts of nuclear capacity by 2050. The company said “Team Korea” — made up of the Ministry of Trade, Industry and Energy, Korea Electric Power Corp. and Doosan Enerbility — is widely seen as a strong contender for Ninh Thuan Unit 2. South Korea and Vietnam signed a memorandum of understanding on nuclear cooperation following the summit, it said. Yoon Yo-han, head of Doosan Enerbility’s marketing division, attended a business forum in Hanoi and signed separate agreements with local firms PTSC and PETROCONs on cooperation for new nuclear projects and supply chain development, the company said. Both firms are subsidiaries of Vietnam National Oil and Gas Group, or PVN, which is leading the Ninh Thuan project. Doosan said the agreements help lay the groundwork for a local supply chain in nuclear equipment and construction, strengthening its position for participation in the Ninh Thuan Unit 2 project. “Cooperation between the two countries, expanded through joint public-private efforts to participate in Vietnam’s new nuclear power projects, will lead to meaningful results,” Park said. “Doosan Enerbility will do its utmost in its role so that Team Korea, which has already proven its competitiveness in the UAE and the Czech Republic, can achieve results in Vietnam as well,” he said.* This article has been translated by AI. 2026-04-23 22:16:00
  • HD Hyundai Heavy Skips KDDX Batch II Concept Bid, Focuses on Next Design Phase
    HD Hyundai Heavy Skips KDDX Batch II Concept Bid, Focuses on Next Design Phase HD Hyundai Heavy Industries has again declined to bid for the concept design of the KDDX Batch II program, drawing attention as competition intensifies for South Korea’s next-generation destroyer project. Shipbuilding industry officials said Thursday that HD Hyundai Heavy did not participate in either of the two recent tenders for the KDDX Batch II concept design. Under current rules, if a tender fails twice, the government can sign a private contract with the sole bidder, increasing the likelihood that Hanwha Ocean will take the concept design work. KDDX is a national project to invest about 7.8 trillion won to secure six 6,000-ton Korean Aegis destroyers by 2030. KDDX Batch II is a follow-on model to the existing KDDX and is an early-stage effort to outline a future next-generation destroyer program. Concept design sets basic performance, weapons systems, radar configuration and hull form, and is considered a research-and-development step before full commercialization. Shipbuilding proceeds through concept design, basic design, detailed design and lead-ship construction, and then follow-on ship construction. Industry observers said HD Hyundai Heavy’s decision appears aimed at concentrating resources on the main competition, particularly the basic design phase. Basic design is widely viewed as the core stage, and in past naval programs the company responsible for basic design has typically carried work into detailed design. In the earlier Batch I program, Hanwha Ocean handled concept design and HD Hyundai Heavy took basic design. Some in the industry said the latest nonparticipation is unlikely to significantly weaken HD Hyundai Heavy’s competitiveness in the broader program. The decision may also reflect internal restructuring after HD Hyundai Heavy merged with HD Hyundai Mipo, integrating its naval vessel and mid-sized ship businesses. With both special-purpose and commercial ship lines to manage, the company may be prioritizing larger, more profitable contracts over pursuing multiple projects at once. HD Hyundai Heavy said the move does not mean it is abandoning the program. “Concept design is a pre-commercialization stage, and we have made participation decisions differently depending on business conditions,” a company official said. The Defense Acquisition Program Administration plans to accept KDDX proposals through May 15 and select a final contractor in July. Under the original plan, basic design was to be completed in December 2023, with detailed design and lead-ship construction starting in 2024, but the agency has been unable to reach a conclusion amid intensified competition between the two companies, delaying the project for a second year.* This article has been translated by AI. 2026-04-23 16:25:07
  • Samsung E&A Q1 2026 Operating Profit Rises 19.6% to 188.2 Billion Won
    Samsung E&A Q1 2026 Operating Profit Rises 19.6% to 188.2 Billion Won Samsung E&A said it posted solid results as all business segments grew despite global uncertainty. In a preliminary earnings filing on April 23, the company said first-quarter 2026 revenue rose 8.1% from a year earlier to 2.2674 trillion won. Operating profit climbed 19.6% to 188.2 billion won, and net profit increased 3.9% to 163.3 billion won. The company attributed the steady growth to the fuller reflection of revenue from large petrochemical plants and domestic advanced-industry plant projects. By segment, petrochemicals accounted for 1.1299 trillion won of revenue, while the advanced-industry and new energy segments posted 574.2 billion won and 563.3 billion won, respectively, out of total revenue of 2.2674 trillion won. Samsung E&A also reported strong new orders. It booked 4.6 trillion won in new orders in the first quarter, reaching about 40% of its annual target. Its order backlog stood at 20.6 trillion won, equivalent to about 2.3 years of work. A company official said Samsung E&A is achieving ongoing cost improvements by differentiating execution through innovative technology and will pursue sustainable growth by responding actively to changes in the global energy market. 2026-04-23 14:12:59
  • Lotte Fine Chemical Says It Commercialized Ammonia Marine Fuel in World First
    Lotte Fine Chemical Says It Commercialized Ammonia Marine Fuel in World First Lotte Fine Chemical said April 23 it has become the first company to commercialize ammonia marine fuel, marking the first commercial case of a supply chain using hydrogen and ammonia produced with renewable energy as ship fuel. The company said it bunkered green ammonia that day into the world’s first ammonia-powered vessel built by HD Hyundai Heavy Industries. While demonstrations have been conducted for research, it said this was the first commercial supply. To support the project, the Ministry of Oceans and Fisheries and its Ulsan Regional Office, the Ulsan Port Authority and the Korean Register helped establish and back related systems, including an eco-friendly marine fuel supply demonstration program, registration of ammonia marine fuel suppliers and guidelines for approving self-safety management plans. Lotte Fine Chemical said it completed South Korea’s first registration as an ammonia marine fuel supplier last year, leveraging what it described as Asia’s largest ammonia terminal infrastructure near Ulsan Port. It said it then imported green ammonia made with 100% renewable energy — wind and solar — through what it called the world’s first cross-border trade of such fuel in March, and used that green ammonia for bunkering into the ammonia-powered ship. The company said it is working with global companies and institutions in multiple regions on cooperation and demonstrations to build a global clean ammonia supply chain. It said it plans to build a multi-channel sales platform and grow into “Asia’s No. 1 clean ammonia hub.” Ammonia (NH3), a carbon-free fuel, can be stored in low-temperature tanks at minus 33 degrees Celsius when liquefied and already has a global distribution network, the company said. It added that ammonia has 1.7 times the storage density of liquid hydrogen, drawing attention as a carrier for large-scale, long-distance transport and storage of hydrogen (H2). Because it can be burned directly, the company said demand is expected to expand for use as an eco-friendly marine fuel and a carbon-free fuel for power generation. Chief Executive Jeong Seung-won said, “The world’s first commercialization of ammonia marine fuel has historic significance for humanity in that it replaces fossil fuels in the era of climate crisis and makes a global carbon-free energy supply chain a reality.” He added, “This is an achievement made together by the government, institutions and companies, and I hope it becomes a hopeful precedent not only for the emerging marine fuel market but for the entire hydrogen economy.”* This article has been translated by AI. 2026-04-23 13:09:17
  • Samgu I&C Earns Korea Record Institute Certification for Largest 60th-Birthday Banquet
    Samgu I&C Earns Korea Record Institute Certification for Largest 60th-Birthday Banquet Samgu I&C said on the 23rd it has received certification from KRI, the Korea Record Institute, for holding a large-scale 60th-birthday banquet for employees. The outsourced management services company said it held nine banquets last year for 1,134 employees born in 1965, staging events by region including the Seoul metropolitan area, Chungcheong, Gyeongsang and Jeolla. On April 22, it invited 131 employees from the metropolitan area and Jeolla who are turning 60 and held its first banquet of the year. Family members were also invited, the company said. Samgu I&C said it promotes a family-friendly workplace culture and operates welfare policies including child-rearing support for large families, flexible work arrangements during pregnancy and child care, and family-care leave and time off. The company said it has also received a “family-friendly certification” from the Ministry of Gender Equality and Family and previously won a health and welfare minister’s award after being selected as a company supportive of raising children. Koo Bon-hoon, chair of Samgu I&C’s environmental, social and governance (ESG) committee, said the certification made the event “even more special.” “Based on our corporate philosophy of putting people first, we organized this to express thanks to employees working at sites across the country,” Koo said. He added that the company plans to hold celebrations this year for a total of 1,180 people.* This article has been translated by AI. 2026-04-23 12:09:15
  • HD Hyundai Signs MOUs at SAS 2026 to Expand Unmanned Vessel Push in U.S.
    HD Hyundai Signs MOUs at SAS 2026 to Expand Unmanned Vessel Push in U.S. HD Hyundai is moving to secure an early foothold in the future unmanned vessel market in the United States. The company said April 23 that it signed a series of memorandums of understanding at the Sea-Air-Space Exposition (SAS 2026) underway in Washington, D.C., including agreements with defense AI company Anduril and the American Bureau of Shipping (ABS), to expand cooperation in its naval ship business. HD Hyundai said it signed an MOU with Anduril on April 22 to jointly develop an advanced unmanned underwater vehicle (UUV) system. The company said the deal expands cooperation beyond the unmanned surface vessel (USV) development already underway with Anduril, as the partners step up efforts to target the U.S. and global markets. According to U.S.-based market research firm Market Research Future, the global UUV market is expected to grow at an average annual rate of 16.6%, from $5.5754 billion in 2025 to $25.8989 billion in 2035. HD Hyundai also said it signed a separate three-party MOU the same day with ABS and Anduril to develop an autonomous maritime systems framework, including related regulations and certification. Under the agreement, the three sides plan to establish demonstration and certification procedures considered essential for development and commercialization of unmanned vessels, and to work together on rules tied to unmanned operations. HD Hyundai said it aims to lead the global unmanned vessel market by combining what it called the world’s top shipbuilding technology with AI-based unmanned systems capabilities. Joo Won-ho, CEO of HD Hyundai Heavy Industries, said unmanned vessels are a central issue for the future global naval ship market and a field the company must lead. He said cooperation with Anduril and ABS will help demonstrate the company’s technology in the global unmanned vessel market. * This article has been translated by AI. 2026-04-23 11:57:17
  • South Korea Gasoline Prices Stay Among OECD’s Lowest Despite Oil Surge
    South Korea Gasoline Prices Stay Among OECD’s Lowest Despite Oil Surge International oil prices have surged on Middle East geopolitical risks, pushing up gasoline prices worldwide, but South Korea’s pump prices have remained low compared with other advanced economies, industry data showed. Analysts cited government price-stabilization measures and the refining competitiveness and supply capacity of domestic refiners as key factors. According to the industry on Wednesday, Korea National Oil Corp.’s Opinet data for the first week of April showed South Korea’s gasoline price among 23 OECD countries averaged 1,894 won per liter, the second-lowest after Japan. Only three countries, including third-place Canada, were below 2,000 won per liter. Prices in major European countries were far higher, including the Netherlands at 4,045 won, Denmark at 3,868 won, Germany at 3,698 won and France at 3,482 won. On a pretax basis, South Korea ranked first. Its pretax gasoline price was 1,029 won per liter, the lowest among the 23 OECD countries and more than 500 won below the OECD average pretax price of 1,591 won. The industry attributed the competitiveness to large-scale refining facilities and investment in advanced processing. The combined refining capacity of South Korea’s four refiners totals 3.36 million barrels a day, about fifth in the world, with several plants ranking among the world’s largest on a single-site basis, enabling cost savings through economies of scale. Advanced upgrading units that convert low-value products such as bunker C fuel into higher-value gasoline and diesel were also cited as central to price stability. The refining industry is reported to have invested about 34 trillion won in upgrading facilities and related equipment from 2007 to 2024. By increasing the share of higher-value products from the same crude, refiners can support profitability while easing pressure on domestic prices. Government measures also played a role. Data showed that after the outbreak of war in the Middle East, a maximum price system was implemented, and refiners cooperated to stabilize the market by holding back supply-price increases and minimizing margins. Company-run gas stations also joined price cuts, helping reduce the burden on consumers, the analysis said. South Korea’s refining industry also has export strength. Last year, petroleum product exports ranked fourth among the country’s export items, after semiconductors, and offset about 60% of the crude oil import bill, according to the data. That helps explain why South Korea, despite being a non-oil-producing country, is counted among the world’s five largest exporters of petroleum products. A refining industry official said domestic refiners import all crude oil but secure both price and quality through “world-class refining efficiency and advanced upgrading competitiveness,” adding that this helped keep the shock to consumer prices relatively limited even as global oil prices jumped.* This article has been translated by AI. 2026-04-23 11:46:03
  • Hanwha Vision, Hanwha Momentum notch India wins as tech push accelerates
    Hanwha Vision, Hanwha Momentum notch India wins as tech push accelerates Hanwha Group’s tech solutions unit said Wednesday it is stepping up its push into India, betting on new technologies as the fast-growing market becomes a strategic base. The company said cooperation between businesses in South Korea and India is strengthening following a recent summit between the two countries’ leaders, which it expects will help accelerate expansion. Global market research firms forecast India’s video security market will grow by more than 10% annually through 2029, it said. Hanwha Vision said it recently obtained India’s cybersecurity-related STQC certification, a requirement for suppliers of security equipment in the country. STQC is issued by an agency under the Indian government. After securing the certification, Hanwha Vision said it won a series of contracts in the first quarter (January-March) to build video security systems for major global companies in India across finance, retail and logistics. It said it expects additional orders from other industries. To raise brand awareness and promote its technology, Hanwha Vision said it has been holding roadshows nationwide. It cited briefings for potential customers in Mumbai, Bengaluru and Delhi in January. The company said many local business officials showed strong interest in products based on its in-house system-on-chip and Wisenet 9 platform, and that multiple deals were signed on site. Hanwha Vision said it plans to significantly expand its product lineup and technical support staff in India. Starting in Bengaluru this year, it also plans to add more “HITE” technology experience centers where customers can try its latest technologies. Other affiliates in the tech solutions unit are also moving into India. Hanwha Momentum said it secured multiple local projects related to secondary batteries and automation equipment, winning equipment supply contracts worth several tens of billions of won. The tech solutions unit’s activity in India is expected to become more pronounced after Hanwha Group completes its planned split-off and the establishment of a new holding company, the company said. It said support from the new holding company, increased investment and synergies among affiliates could strengthen competitiveness in new markets, including India. “As India emerges as a global technology hub, demand for video security is rising sharply,” a Hanwha Vision official said. “Based on our advanced technology and trust built in global markets, we will actively expand in India.”* This article has been translated by AI. 2026-04-23 08:43:03
  • Steel, Shipbuilding Labor Disputes Flare Over Direct Hiring and Bonus Standards
    Steel, Shipbuilding Labor Disputes Flare Over Direct Hiring and Bonus Standards Steel and shipbuilding companies are taking unusual steps to fix long-standing prime contractor-subcontractor structures, including large-scale direct hiring of partner-firm workers. But discontent on the ground is growing as disputes erupt over how compensation should be set. Industry officials said April 22 that tensions at POSCO have reached an unprecedented level after the company presented detailed guidelines for directly hiring 7,000 workers from partner firms. Under the roadmap, the new hires will be placed in a newly created “Operations Synergy (S)” job category. Pay will be set across seven grades. The plan also includes a 400% bonus and, when the company posts a profit, a management performance bonus of at least 800%. Both unions have voiced strong objections. The subcontractor union says the plan lacks clear standards for years of service, which would be used to calculate bonuses and performance pay. The prime contractor union argues that recognizing subcontractor workers’ experience could disrupt existing promotion order and undermine fairness in personnel decisions. Hyundai Steel’s union is also moving to secure the right to strike, including by applying for mediation at the National Labor Relations Commission, as it demands a special performance bonus at the same level as Hyundai Motor and Kia. Shipbuilding is facing similar friction. Subcontractor unions at shipyards are pressuring management, citing the Yellow Envelope law, to match not only wages but also performance bonuses with those of prime contractor workers. The prime contractor and subcontractor unions at HD Hyundai Heavy Industries (the union’s branch and local chapter under the metalworkers’ union) held a news conference at Ulsan City Hall on April 22, saying the company unilaterally changed the performance-bonus payment date, leaving some subcontractor workers who retired at mandatory retirement age unable to receive it. They demanded immediate payment of unpaid year-end performance bonuses to subcontractor workers. The metalworkers’ union’s Welliv chapter, which represents workers at Hanwha Ocean’s in-house food service contractor, has also requested direct talks with management over performance-bonus payments. Companies say the growing labor-labor conflict is adding to management burdens. They warn that disputes could expand beyond wages and working conditions into business decisions such as new investment, outsourcing operations and organizational restructuring. They also fear that if prime contractor and subcontractor unions demand bargaining at the same time, decision-making will slow, increasing the risk of production disruptions, delivery delays and workplace confusion. Jeong Yeon-seung, a professor of business administration at Dankook University, said protecting workers’ rights is important, but the country must also consider the competitiveness of entire industries, not just individual companies. “As global competition intensifies, strategic industries must grow enough to secure competitiveness for both companies and workers to expect sustainable growth,” he said.* This article has been translated by AI. 2026-04-22 18:50:35