POSCO apologizes after toxic gas accident leaves workers critically ill SEOUL, November 21 (AJP) - South Korean steelmaker POSCO issued a formal apology on Friday after three workers were hospitalized for inhaling toxic gas during a sludge-cleaning operation at its steel mill in the southeastern city of Pohang. The company vowed to strengthen safety protocols to prevent similar incidents. In a statement, POSCO President Lee Hee-geun expressed “deep regret” over the accident, which occurred on Thursday and involved both POSCO employees and subcontracted workers. “On behalf of the company, I sincerely apologize to the victims and their families,” he said. Lee said an emergency response team was dispatched immediately to determine the cause of the gas leak and is working with authorities on the investigation. “We are prioritizing the recovery of the affected individuals and are providing all necessary support without delay,” he said. Acknowledging a string of safety lapses at the company this year, Lee pledged to implement comprehensive improvements. “We take full responsibility for recent safety incidents and will devote all available resources to ensuring they do not happen again,” he said. The accident involved two subcontractor workers in their 50s and a POSCO employee in his 40s, all of whom inhaled toxic gas at the STS 4 steelmaking facility. They were hospitalized in cardiac arrest; two have since stabilized but remain in critical condition, while the third suffers from severe impairment of consciousness. Three other people who responded to the scene were also exposed to the gas but sustained only minor injuries. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 15:20:39

South Korea's SK On hosts music festival for disabled in Hungary SEOUL, November 09 (AJP) - South Korean battery maker SK On said Sunday it hosted a music festival for people with developmental disabilities at the Aranytiz Cultural Center in Budapest, Hungary, on Nov. 8. This event was co-organized by the Hungarian Association for Music for the Disabled and the Korean Cultural Center in Hungary. The association helped design the program, while the cultural center worked to engage local audiences through its networks and events. Three ensembles performed at the concert: Hungary’s Parapillék and Paraphonia, and Korea’s Vivace Ensemble. Parapillek, an orchestra founded in 2023 with support from SK Innovation and SK On, features musicians with developmental disabilities. Paraphonia, a group with a two-decade history, is recognized for its accomplished performances. The Vivace Ensemble closed the evening with a rendition of Arirang that drew prolonged applause, the company said. The event drew about 200 attendees, including representatives from SK On’s European operations, the Hungarian Ministry of Interior, the Hungarian Association for Music for the Disabled, and the Korean Embassy in Hungary, among others. “It was a meaningful event that united us through music beyond borders and languages,” said Kim Se-jin, head of SK On’s European production unit. “We will continue efforts to bring Korea and Hungary closer, extending our connection beyond economic ties.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-09 16:34:31

KCC unveils glass designed to prevent bird collisions SEOUL, November 06 (AJP) - KCC Glass said Thursday it has developed South Korea’s first bird-safe glass. The product, named SAVIRDS, employs a sandblasting technique that etches subtle patterns across the surface of the glass. The markings, spaced five centimeters apart, are visible to birds and recognized as obstacles — reducing the risk of fatal collisions that have become a growing environmental concern. SAVIRDS recently received certification from the American Bird Conservancy, meeting the organization’s standards for bird-collision prevention. The launch comes amid increasing alarm over bird fatalities caused by glass structures. A 2019 report estimated that nearly eight million birds die each year in South Korea after flying into transparent or reflective windows. In response, the government amended the Wildlife Protection and Management Act in 2022, requiring public buildings to incorporate bird-safety measures into their designs. Conventional solutions — such as applying films or stickers — have proven difficult to maintain over time. KCC says SAVIRDS offers a more durable alternative, with permanently etched patterns that require no additional maintenance. The glass can also be processed like standard glass and features a special coating that improves insulation, combining wildlife protection with energy efficiency. KCC plans to promote SAVIRDS first for use in public buildings, before expanding to commercial and residential structures. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-06 15:46:27

South Korea's LG Chem partners with Germany's ZEISS on holographic windshield displays SEOUL, October 30 (AJP) - LG Chem said Thursday that it has partnered with German optics maker ZEISS to supply advanced photopolymer film for use in next-generation holographic windshield displays in vehicles. The holographic windshield display, or HWD, projects navigation and entertainment content directly onto the windshield, effectively turning it into a transparent screen. Unlike traditional head-up displays, which show limited data in a small area, the holographic version provides a wider field of view and a more immersive experience, transforming the driver’s space into a dynamic digital interface. ZEISS, renowned for its precision optics, plans to use LG Chem’s film to produce holographic optical elements for these displays, with an eye toward commercialization by 2029. LG Chem said its siloxane-based photopolymer film simplifies the optical path while maintaining high brightness and enabling large-area applications. The material offers superior optical efficiency and thermal stability, supported by more than 150 patents. The company added that the same technology could be applied beyond automobiles, including in augmented reality head-up displays, holographic cameras, public transportation systems, and even aerospace cockpits. Stefan Hofer, a senior executive at ZEISS, said the partnership would allow the two companies to deliver “high-quality optical solutions” for the emerging holographic display market. LG Chem Vice Chairman Shin Hak-cheol described the collaboration as a strategic step toward “leading innovation in mobility displays.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-30 11:03:28

Battery materials maker EcoPro BM to establish European subsidiary SEOUL, October 13 (AJP) - South Korean battery materials producer EcoPro BM plans to turn its German liaison office into a full-fledged sales subsidiary as it seeks to deepen its presence in Europe’s fast-growing electric vehicle market. The move, announced Monday, marks a strategic step for the company to expand beyond its core cathode materials business into recycling, while broadening its customer base across the region. As Europe accelerates its shift toward electric mobility, demand for battery materials is soaring — along with pressure to meet strict environmental and sourcing standards under the European Union’s Critical Raw Materials Act. EcoPro BM said the new subsidiary will strengthen coordination between its South Korean headquarters and European battery makers, improving supply chain efficiency and regulatory compliance. The company also aims to enhance communication with potential clients and secure recycling feedstock in the region. Construction of its cathode materials plant in Debrecen, Hungary, is nearing completion, and the European subsidiary will serve as a hub for marketing and logistics once production begins. “The new corporate entity will allow us to collaborate more closely with local partners and explore new business opportunities, including recycling and cathode material supply,” an EcoPro BM spokesperson said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-13 10:46:41

LG Energy Solution Q3 profit surges 34% on pre-expiry U.S. EV credit boost SEOUL, October 13 (AJP) - South Korea’s top battery maker LG Energy Solution said Monday its third-quarter operating profit likely jumped 34 percent from a year earlier, lifted by increased electric-vehicle (EV) battery purchases ahead of the expiration of federal EV tax credits in the United States. In a preliminary earnings estimate for the quarter ended September, the company projected an operating profit of 601.3 billion won ($422.8 million), up from 448.3 billion won a year earlier. Sales during the same period, however, fell 17.1 percent to 5.7 trillion won, reflecting a broader slowdown in global EV demand. LG Energy Solution, a key supplier to General Motors and Tesla, had earlier warned of possible pressure on its top and bottom lines following the termination of the $7,500 federal tax credit in September. The company said its third-quarter operating profit included a 365.5 billion won subsidy from the U.S. Inflation Reduction Act (IRA), accounting for 60.8 percent of the total. Excluding the U.S. tax credit, the net operating profit stood at 235.8 billion won, marking a profit for the second consecutive quarter even without U.S. subsidies. For the January–September period, the company estimated an operating profit of 1.46 trillion won, up a whopping 83.3 percent from a year earlier, while sales fell 8.5 percent to 15.73 trillion won. Final quarterly results will be announced on October 30. Beyond the EV market slowdown, LG Energy Solution faced a setback last month when its joint battery plant with Hyundai Motor in Georgia, U.S., was hit by a large-scale immigration raid, resulting in the arrest of hundreds of South Korean workers. As of 10:00 a.m. Seoul time, LG Energy Solution shares were up 0.4 percent at 361,000 won. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-13 10:09:16

MBK Partners weighs exit from Korea Zinc SEOUL, October 01 (AJP) - Facing mounting scrutiny from lawmakers and civic groups, MBK Partners is considering selling its stake in Korea Zinc, a move that could alter control of one of the world’s leading producers of nonferrous metals. A person briefed on the matter said on condition of anonymity that MBK is “reviewing its control over Korea Zinc, with an exit strategy as one option.” The stake could be transferred to Young Poong, the company’s largest shareholder, or potentially to another buyer. The review comes as MBK grapples with crises elsewhere in its portfolio. The private equity firm has faced backlash over a restructuring at Homeplus, one of South Korea’s largest retailers, and a data breach at Lotte Card. In response, it has issued a rare public apology and pledged $500 million to shore up shareholder confidence. Kim Byung-ju, MBK’s chairman and one of Asia’s most prominent private equity investors, has also been summoned by the National Assembly’s Political Affairs Committee to testify about the Homeplus case. His appearance is expected to intensify political pressure at a moment when lawmakers are seeking tighter oversight of private equity ownership in domestic companies. Industry insiders say MBK is eager to avoid a protracted dispute at Korea Zinc, which could draw further political and public scrutiny. But an exit may prove difficult: the firm is bound by a management cooperation agreement with Young Poong that carries penalty clauses for early withdrawal. Young Poong has signaled its intent to assert greater influence. “Korea Zinc does not belong to its management agent, Choi Yoon-beom,” the company said in a statement. “As the largest shareholder, we will ensure fair management.” Analysts note that MBK’s decision will serve as a test case for the balance of power between global private equity and domestic corporate governance in South Korea, where political headwinds are increasingly shaping boardroom outcomes. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 08:56:03

HD Hyundai Mipo wins $167 million order for 3 container ships SEOUL, September 29 (AJP) - HD Hyundai Mipo, a subsidiary of South Korea’s HD Hyundai, said Monday that it had won a contract to build three container ships worth 222 billion won, or about $167 million, from an Oceania-based shipping company. The order calls for two 2,800-TEU container vessels and one 1,800-TEU container vessel, all to be constructed at the company’s Ulsan shipyard and delivered by October 2027. The so-called feeder ships, which typically carry fewer than 3,000 containers, serve as links between smaller regional ports and major international hubs. Demand for such vessels has climbed in recent years as shipping companies look to capitalize on short-haul routes in Asia and Europe, where higher turnover and lower fuel costs make them profitable. Clarkson Research, a London-based shipping data provider, estimates the feeder ship market will total $2.74 billion this year and nearly triple by 2035, expanding at an annual rate of 8.7 percent. The contract adds to a growing order book for HD Hyundai Mipo, which has secured 21 feeder ship deals so far this year, up from six in 2024. The company has promoted new hull designs that it says can improve fuel efficiency by as much as 20 percent while cutting carbon emissions. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-29 15:11:01