South Korea women’s curling team falls to U.S. in Olympic round-robin opener South Korea’s women’s curling team, Gyeonggi Province, ranked No. 3 in the world, opened the 2026 Milan·Cortina Winter Olympics round-robin with a loss. Skip Kim Eun-ji, third Kim Min-ji, second Kim Su-ji, lead Seol Ye-eun and fifth Seol Ye-ji fell 8-4 to the United States on Feb. 12 (Korean time) at the Cortina Curling Olympic Stadium in Cortina d’Ampezzo, Italy. In women’s curling, 10 teams play nine round-robin games, with the top four advancing to the semifinals. South Korea started well, scoring one point in each of the second and third ends to lead 2-0. The U.S. tied it in the fourth end with two points. Trailing 3-2, South Korea had the hammer in the seventh but gave up two when Kim Eun-ji’s final stone did not settle in the button, stretching the deficit to 5-2. South Korea answered with two in the eighth to close within 5-4, then limited the damage to one in the ninth. Down 6-4 in the 10th, it tried to rally, but Kim’s final double-takeout attempt missed, and South Korea surrendered two more to finish 8-4. South Korea plays host Italy in its second round-robin game on the morning of Feb. 13. 2026-02-12 20:15:00

South Korea’s Jung Dae Yoon Advances to Olympic Moguls Final After Second Qualifier South Korean freestyle skier Jung Dae Yoon of the Seoul Ski Association rebounded from a poor first run to advance to the Olympic men’s moguls final. Jung scored 77.36 points to place fourth in the second qualifying round on Wednesday (Korea time) at the Aerial Mogul Park in Livigno, Italy, at the 2026 Milan-Cortina d’Ampezzo Winter Olympics. He secured one of the 10 final berths awarded to the top 10 finishers among 20 skiers in the second qualifier. In the first qualifying round, Jung scored 65.51 points and finished 27th out of 29, missing an automatic spot in the final. He improved on his second chance with a steadier run and cleaner aerials. Skiing seventh, Jung earned 17.68 points for time, 16.88 for air and 42.8 for turns. After his score was confirmed, he clenched his fist in celebration. It marked his first Olympic appearance and his first trip to an Olympic final. Moguls is contested on a course of closely spaced snow bumps about 1 meter high, with athletes performing aerial tricks at designated jumps. Results are based on a combined evaluation of turning, speed and aerial execution. The top 10 from the first qualifier advance directly, with additional finalists determined in the second qualifier. Lee Yoon Seung of Kyung Hee University, who fell in the first qualifier and did not record a score, withdrew and did not compete in the second qualifier. The men’s moguls final is scheduled for 8:15 p.m. Wednesday (Korea time). 2026-02-12 19:57:00

Hanwha Ocean to Pay 400% Bonus to Both Contractors and Subcontractors Hanwha Ocean will pay a 400% performance bonus to both its direct employees and subcontracted workers, a rare move among major shipbuilders to apply the same high rate across prime and subcontract workforces. The decision is drawing attention as a potential step toward “equal pay for equal work” on the shop floor. According to Ajunews reporting on Wednesday, Hanwha Ocean decided to pay last year’s performance bonus at 400% of monthly base pay, its highest level since the company’s launch. The bonuses are scheduled to be paid in full on Thursday. The move is seen as reflecting improved results during the shipbuilding upcycle and a push to more directly reward contributions at production sites. The shipbuilding industry has long faced criticism that subcontracted workers handle about 60% of production processes but receive significantly lower welfare benefits and bonuses than direct employees. Hanwha Ocean said late last year it would pay the same performance bonus to both groups as part of labor-management cooperation. In 2024, Hanwha Ocean employees received bonuses equal to 150% of base pay, while workers at partner firms received 75%. Under the new plan, both direct and subcontracted workers will receive the same bonus rate. Industry observers said the decision could help ease the sector’s dual labor structure. With a shortage of skilled workers persisting during the boom, broader profit-sharing could help curb worker outflows and encourage new hiring. Samsung Heavy Industries has previously paid the same bonus rate to prime and subcontract workers, but the amounts were relatively limited, making Hanwha Ocean’s decision stand out, analysts said. The move also complicates calculations across the industry, as it could fuel demands for larger bonuses at shipbuilders already in conflict this year with subcontractor unions over bonus negotiations. Another pressure point is the planned March implementation of the so-called Yellow Envelope Act, revisions to Articles 2 and 3 of the Trade Union and Labor Relations Adjustment Act. The bill calls for prime contractors to negotiate directly with subcontractor unions when the prime contractor exercises substantial control over subcontract workers’ conditions. Against that backdrop, HD Hyundai Heavy Industries postponed performance bonuses for subcontracted workers that had been slated for payment in December to February. By contrast, it plans to pay its direct employees performance bonuses of about 800% this month. Analysts also said Samsung Heavy Industries faces growing pressure over bonus levels. While it pays the same bonus rate to prime and subcontract workers, it differentiates payments by years of service, and its overall bonus level is known to be the lowest among the three major shipbuilders. “Combined with labor issues such as the Yellow Envelope Act, Hanwha Ocean’s move has become even more symbolic,” a shipbuilding industry official said. “In reality, compensation levels inevitably vary depending on each company’s performance and financial conditions, but one company’s decision can be treated as an industrywide benchmark, creating a significant burden.” 2026-02-12 19:36:00

Doosan Chairman Park Jeongwon says AI boom boosts energy, semiconductor push Doosan Group is stepping up its push into artificial intelligence, betting that expanding global AI infrastructure will lift demand for its semiconductor and energy businesses. The company says it aims to strengthen its business structure and develop new growth engines. Doosan said Park has recently visited Doosan Enerbility and Doosan’s Electronics BG sites as part of on-site management. “With the AI transformation, a major window of opportunity has opened in the energy business,” Park said. “Based on the capabilities we have built up, we must further strengthen global competitiveness and make the most of the expanded opportunities.” Park visited Doosan Enerbility’s site in Changwon, South Gyeongsang Province, a day earlier to review the energy business. Doosan said surging AI-related power demand is benefiting the energy-infrastructure company. Park toured a power-generation gas turbine plant and the main equipment manufacturing line for small modular reactors, or SMRs, as the company works to fulfill a growing order book. Doosan Enerbility said it succeeded in localizing large power-generation gas turbines in 2019 and has won orders for a total of 16 turbines at home and abroad. It also said it signed a contract last year to supply five 380-megawatt large gas turbines to a U.S. big tech company. The company has set a mid- to long-term roadmap targeting cumulative orders of 45 turbines by 2030 and 105 by 2038. Park also visited Doosan’s Electronics BG site in Jeungpyeong, North Chungcheong Province, to check the manufacturing process for copper-clad laminate, or CCL, used in AI accelerators. Doosan said order backlogs are rising as global big tech companies intensify competition to develop their own AI accelerators. High-performance CCL is required to minimize signal loss and withstand high-temperature operating conditions, it said. Doosan said a stock purchase agreement to acquire SK Siltron is likely to be finalized next month. It said the wafer maker’s growth prospects are being viewed favorably amid a semiconductor supercycle tied to the AI boom. Doosan Group said its 2025 revenue rose 9.1% from a year earlier to 19.7784 trillion won, and operating profit increased 5.9% to 1.0627 trillion won. Among AI-related affiliates, Doosan Enerbility said consolidated revenue rose 5.1%, while Doosan’s Electronics BG posted record revenue of 1.8756 trillion won. Park last month visited CES 2026 in Las Vegas to review AI and other technology trends and seek new business opportunities. Doosan showcased energy solutions such as gas turbines and SMRs, as well as physical AI technologies in construction equipment and robotics, the company said.* This article has been translated by AI. 2026-02-12 18:57:00

IOC Bans Ukrainian Skeleton Racer From Milan Olympics Over Memorial Helmet The International Olympic Committee has stripped Ukrainian skeleton racer Vladyslav Heraskevych of eligibility for the 2026 Milan-Cortina d'Ampezzo Winter Olympics after he insisted on wearing a “memorial helmet” honoring fellow athletes killed in the war with Russia. The IOC said Thursday (Korea time) that Heraskevych was barred from the Games for failing to comply with its athlete freedom-of-expression guidelines. During training runs for the event, Heraskevych wore a custom helmet bearing images of 24 Ukrainian athletes who died during the war, the IOC said. The IOC ruled that the helmet violated Rule 50.2 of the Olympic Charter, which says “no kind of demonstration or political, religious or racial propaganda is permitted in any Olympic sites, venues or other areas.” As an alternative, the IOC proposed that he wear a memorial armband. The IOC said IOC President Kirsty Coventry met with Heraskevych earlier Thursday for talks. Heraskevych refused. “Because of the sacrifice of the athletes who died, we were able to compete here as one team,” he said. “I cannot betray them,” he added, reiterating he would keep wearing the helmet. The IOC said it “regrettably” withdrew his eligibility after he made clear he would not consider any compromise. The Associated Press reported that Heraskevych said he would challenge the decision at the Court of Arbitration for Sport. Heraskevych also drew attention at the 2022 Beijing Winter Olympics, before Russia’s invasion of Ukraine, when he held a sign after his race reading “No war in Ukraine.” The IOC at the time said it did not violate the charter because it was simply a call for peace.* This article has been translated by AI. 2026-02-12 18:39:00

Jordan Stolz Wins Olympic Gold in Men’s 1,000 Meters With Record Time American Jordan Stolz won gold in the men’s 1,000 meters in speedskating, setting a new Olympic record and putting himself in position to contend for more medals in Milan. Stolz clocked 1 minute, 6.28 seconds on Wednesday (Korea time) at the Milan speedskating stadium in Italy, breaking the previous Olympic mark. “An Olympic gold medal is a chance that comes only once every four years,” Stolz said after the race. “I felt a lot of pressure, but I raced the way I prepared.” Stolz has already established himself internationally as a multi-event threat. In December, he swept the 500, 1,000, 1,500 and mass start at an International Skating Union World Cup, and he has continued that form by winning three events at the world championships this season. He is known for both sprint speed and strong race management at middle distances. He also set a World Cup mark as the first male skater to win five titles at a single meet. At the Beijing Olympics four years ago, Stolz finished without a medal. Then a teenager, he has since improved his conditioning and race strategy to become one of the world’s top skaters. In U.S. speedskating, he has been mentioned as a potential successor to Eric Heiden in the multi-gold tradition. At these Games, Stolz is also entered in the 500, 1,500 and mass start. His main rivals include Jenning de Boo of the Netherlands in the 500 and Kjeld Nuis of the Netherlands, a two-time Olympic champion, in the 1,500. “After winning my first gold, I feel like I’ve gotten a sense for the arena atmosphere and the ice,” Stolz said. “I’m expecting good results in the remaining races.”* This article has been translated by AI. 2026-02-12 18:24:00

South Korean Defense Firms Build EU Production Bases to Meet SAFE Local-Content Rules South Korean defense companies are accelerating efforts to build production systems in Europe as the region tightens procurement rules. To meet local-content requirements under the European Union’s SAFE defense loan program, companies are setting up factories and building supply chains with European parts makers. According to the defense industry on Wednesday, the European Commission recently approved eight countries — Romania, Bulgaria, Croatia, Belgium, Denmark, Spain, Portugal and Cyprus — as eligible for SAFE, which offers low-interest loans to member states for joint weapons purchases. SAFE aims to invest 800 billion euros (about 1,370 trillion won) in defense through 2030 to strengthen European security, focusing on procurement of advanced equipment such as ammunition, missiles, artillery, drones and artificial intelligence. To use the fund, however, at least 65% of weapons production and parts sourcing must be European. Moves by South Korean defense firms to establish local bases are becoming more visible. Hanwha Aerospace said it broke ground Tuesday on a plant in Romania to produce K9 self-propelled howitzers and K10 ammunition resupply armored vehicles. The site, called H-ACE Europe, will include advanced assembly lines, performance and verification test facilities, and a 1,751-meter driving test track. Hanwha Aerospace said the Romania facility will provide full life-cycle support, including assembly, integration, testing and maintenance, repair and overhaul. The company aims to raise localization to 80% by building partnerships with about 30 local parts suppliers. A company official said Hanwha plans to strengthen the cooperation network and develop the site into a European hub that could expand to production and support for advanced ground systems such as infantry fighting vehicles, long-range precision strike systems and unmanned ground vehicles. Hyundai Rotem is also strengthening cooperation with Polish defense company Bumar after signing a second implementation contract last year with Poland’s Armament Agency for K2 tanks. About 250 K2 tanks to be delivered to Poland will be produced at Bumar’s plant, and Hyundai Rotem said it plans to expand capacity depending on future orders. The company is also moving to secure overseas bases, including establishing an about 8,500-square-meter rail-vehicle electrical components plant in California called Hyundai Rotem Smart Electric America, or HRSEA. A defense industry official said building defense plants in Europe is highly challenging because it requires weighing many factors, including contract size, understanding of the local market, language, labor skills and the parts ecosystem. Still, the official said, companies are continuing to review potential sites as trade bloc trends are expected to persist.* This article has been translated by AI. 2026-02-12 18:09:00

South Korea’s K2 Rifle Moves From Standard-Issue Weapon to Export Product In the military, the first weapon most recruits receive is a rifle — a soldier’s most closely guarded piece of equipment. Many carry it so constantly that they can recite its serial number on command, and it rarely changes before discharge. That closeness breeds plenty of barracks stories: seniors jokingly telling new recruits to buy a rifle at the PX, or a trainee getting reprimanded all day after losing a gas regulator at the range. The gas regulator is a small part that can come loose with a light touch, making it a common target for pranks. Rifles long seen as routine military gear are now being sold overseas. Weapons once described simply as “individual arms” have become part of the global defense market. Here is where South Korea’s rifle and ammunition industries stand — and where they may be headed. ◆ From familiar K2 to an export industry The K2 rifle, familiar to many South Koreans through reserve duty, is mainly produced by SNT Motiv. It is widely known as a South Korean adaptation of the U.S. M16. Weighing 3.26 kilograms, it can be fitted with a bayonet for close combat. In the late 2000s, bayonet drills were taught in basic training. Close-quarters fighting can be useful in mountainous terrain, a theme also depicted in the Korean War film “The Front Line.” The K2’s look has changed significantly. The K2C1, introduced in 2016, is an upgraded model designed for modern combat. Its handguard allows easier mounting of equipment such as optics, and its stock can be adjusted for different body sizes. An SNT Motiv official said the upgrade reflected the fact that soldiers have grown larger over the past 30 years since K2 production began. The official said detachable sights and the ability to add a forward grip improved ease of use and combat effectiveness. After the upgrade, the K2C1 became a main domestic weapon. SNT Motiv supplied 16,000 units to South Korea’s military for domestic use in 2024 and another 16,000 last year. Since it was fielded in 2016, cumulative domestic deliveries have reached about 190,000 units. Over the same period, about 40,000 units are reported to have been exported as markets opened in the Middle East and Southeast Asia. SNT Motiv posted operating profit of 102.6 billion won last year, up 4.5% from a year earlier. Dasan Machineries also added to the export trend, signing a contract early this year to export about 15,000 DSAR-15P 5.56 mm carbine rifles to the Philippines. A Dasan Machineries official said the company secured an edge with a clear bidding strategy in competition with defense firms from Brazil, Turkey and the Philippines. ◆ An evolving ammunition market Ammunition is so tightly controlled in the military that units typically have a dedicated noncommissioned officer overseeing it. Many reservists recall spending hours searching for missing shell casings after live-fire training. South Korea’s leading ammunition maker is Poongsan. Much of the 5.56 mm ammunition issued at firing ranges is produced there. According to filings with the Financial Supervisory Service’s electronic disclosure system, Poongsan posted 775.9 billion won in revenue last year through the third quarter from sales of military and sports ammunition. Over the same period, its U.S. subsidiary, PMC Ammunition, recorded US$99.7 million (1.435 trillion won) in results, reflecting sales of small-caliber rounds beyond South Korea and into the U.S. market. Ammunition has taken on greater importance as drones emerge as a key threat in modern warfare, spurring competition to develop rounds designed to intercept them. In the global defense industry, developing 30 mm airburst ammunition for counter-drone use has become a major task. Rheinmetall of Germany is widely cited as a leading developer of 30 mm airburst ammunition. U.S. defense contractor Northrop Grumman is developing 50 mm ammunition for drone interception based on experience from the war in Ukraine. Research and Markets forecasts the counter-drone ammunition market will grow at an average annual rate of 14.5%, from US$1.52 billion in 2025 to US$1.75 billion this year. Nam Myeong Ryeol, head of Korea University’s K-Defense Industry Research Center, said South Korean rifles are drawing attention in export markets because they perform reliably in harsh conditions, can be supplied in large quantities on time, and are price-competitive. <Editor’s note> Covering the defense industry. Aju Business Daily reporter Oh Ju Seok enlisted as an enlisted soldier at a unit in Incheon in 2009 and was discharged in 2013 with the rank of staff sergeant. He describes himself as a middle-aged military enthusiast who still cannot let go of the armed forces, and asks seniors and juniors for their support and guidance. 2026-02-12 18:06:48

Canada Submarine Bid Raises Pressure for Private Investment Packages "If they ordered submarines, shouldn’t you just deliver submarines — why give more?" That has been a common reaction to reports that Canada is pressing South Korea and Germany, both competing for a 60 trillion won patrol submarine project known as CPSO, to present a “private investment package.” Public sentiment cooled further after reports said Canada is seeking an auto manufacturing plant — a project tied to advanced technology, large-scale investment and major job creation. Critics say it is hard to accept an arms tender in which submarine performance counts for 20% of the evaluation while expected economic spillover accounts for 80%. Many observers argue that a package deal that effectively hands over industrial infrastructure would become a burden future generations must repay. Much of the public support has instead gone to Hyundai Motor Group, which has been drawn into the submarine bid, with calls not to load excessive responsibility onto a private company. For Hyundai, Canada also revives the painful memory of the “Bromont nightmare” from 30 years ago. The company once built a plant in Bromont, Quebec, hoping to establish a North American foothold, but withdrew early in 1996, just four years after opening. The exit followed weak Sonata sales, parts procurement problems, productivity averaging 30% to 40%, and repeated labor disputes. Hyundai suffered a major loss, failing to recover an investment of 320 million Canadian dollars (3.5 billion won at the time). It was Hyundai’s first failed overseas investment. Hyundai Chairman Chung Euisun said last year at the completion of a plant in Ellabell, Georgia, that the company would “put down roots” there. Once a factory is built, it ties a company’s fate to that place. Closing a plant is more than dismantling equipment; it means unwinding jobs, supplier networks and brand trust — a long, costly process. That is why being asked to plant a flag again in a place associated with withdrawal can be a burden beyond the numbers. With electrification reshaping the industry, a misstep can affect decades of planning. Canada offers attractive cards in batteries and green policies, but it also sits on a complicated North American supply-chain chessboard where a single move can be decisive. The dilemma for an owner begins with the fact that governments and companies speak different languages. For a government, submarine exports can be leverage to strengthen alliances, and it cannot ignore what an auto plant might deliver in bargaining power. A company’s calculus is different. As the industry hits an inflection point in electrification, global automakers are locked in massive investment competition in batteries, software and autonomous driving. For Hyundai, which already has a dense North American production network centered on the U.S. South and Mexico, building a new plant in Canada would require weighing countless variables, including how to divide roles with existing sites, logistics costs, labor conditions and tax incentives. An auto plant is also a message from an owner: where to put down roots is a declaration of where to bet on the future. The key is the terms. If a government wants to talk about being “one team” with business, it must offer an industrial foundation that companies can accept, not appeals to patriotism. That means a comprehensive plan — tax support, power-price agreements, infrastructure, labor flexibility and management of diplomatic risk. A factory does not run on slogans. Companies move when “investment under pressure” becomes “expansion through a deal.” * This article has been translated by AI. 2026-02-12 18:03:24

India Emerges as Next EV Battleground as Hyundai, Mahindra Step Up Investment India is rapidly emerging as the next major battleground for electric vehicles, driven by rising incomes and government-led policies to accelerate the shift to EVs. Global automakers are moving in, and Hyundai Motor is speeding up plans to expand its EV lineup as Indian companies prepare large investments to defend their home market. According to foreign media reports on Wednesday, Indian automaker Mahindra said it will invest US$1.65 billion (about 2.3 trillion won) over the next 10 years in Maharashtra state to expand manufacturing. A new plant set to begin production in 2028 will build internal-combustion vehicles as well as EVs and next-generation platforms. Mahindra is a leading Indian brand competing with Hyundai and Tata Motors for the No. 2 spot in the market. It sold 625,603 vehicles last year, up 18.4% from a year earlier, ranking second. In EVs, its sales surged 481% to 61,172 vehicles, narrowing the gap with market leader Tata, which sold 78,672. India’s total EV sales reached 198,881 last year, up 85.9% from the previous year. The Indian government aims to make EVs 30% of total vehicle sales by 2030 and is expanding charging infrastructure, with a plan to increase public chargers from 12,000 as of last year to more than 30,000 by 2027. As the market grows around domestic brands, global companies including Tesla are also joining the competition. Hyundai and Kia are seeking to expand share with SUV- and small-car-based EVs. Their EV sales in India were 786 and 292 vehicles, respectively, in 2024, but rose sharply last year to 8,291 and 4,111. Hyundai, which pursued a push to become an “Indian national brand” through a 2024 initial public offering, has said it will further strengthen transparency at its Indian unit and invest in new products, future advanced technologies and research and development, while developing India as a strategic export hub. Hyundai plans to invest 450 billion rupees (about 7.3 trillion won) in India by 2030 and is expected to launch six EV models by 2028. Hyundai CEO Jose Munoz has said, “India is a strategic priority in Hyundai’s global growth vision,” adding it will become Hyundai’s second-largest market by 2030. Hyundai Motor Group Executive Chair Euisun Chung visited Hyundai and Kia plants last month and reaffirmed a strategy to strengthen the group’s position through a 1.5 million-vehicle production system, a flexible product lineup tailored to the market and building an electrification ecosystem. India’s overall vehicle sales totaled 4,565,098 last year, up 5.7% from the previous year. Over that period, Hyundai’s sales fell 5.5% to 571,878, dropping to fourth place. Kia sold 280,286 vehicles, up 14.4%, for a market share in the 6% range.* This article has been translated by AI. 2026-02-12 18:03:00