Journalist

SHIN JIA
  • Diesel Prices Top Gasoline in South Korea, Raising Fears of Freight Disruptions
    Diesel Prices Top Gasoline in South Korea, Raising Fears of Freight Disruptions "I use as much as 5,000 liters of diesel a month. If the price rises by just 500 won, my fuel bill goes up 2.5 million won," a cargo truck driver said. "Then my take-home pay drops below what you can make at a part-time job. I’m hanging on, but if things get as bad as the urea-solution crisis, I may have to stop driving." With global oil prices topping $100 a barrel and diesel now costing more than gasoline, South Korea’s freight industry is warning of mounting strain. Since March 6, diesel has been priced above gasoline, raising concerns that many truckers could be forced to stop operating. Any widespread halt would likely disrupt logistics and push up distribution costs, adding to pressure on households. According to the Korea National Oil Corp.’s Opinet price system, as of 10 a.m. March 9 the nationwide average diesel price was 1,920 won per liter, 22 won higher than gasoline at 1,898 won. In Seoul, diesel averaged 1,970 won per liter, nearing 2,000 won, and some stations have already posted prices in the 2,000-won range. Industry officials say the situation risks echoing the urea-solution shortages of 2021 and 2023, when trucks were sidelined in large numbers. At the time, the government even used military transport aircraft to rush in emergency supplies to keep freight moving. The Cargo Truckers Solidarity Division said the current spike in fuel prices directly cuts into drivers’ income. Park Jae-ha, the group’s policy director, said freight rates are typically split roughly into thirds: fuel, vehicle maintenance and driver income. "When oil prices surge, freight rates stay the same but fuel costs rise, so income drops sharply," he said. Park added that members have recently reported monthly fuel bills rising by 1.3 million to 1.4 million won, calling it "a situation where the more you work, the more you lose." Park said a safety freight-rate system that links fuel prices and rates applies only in part and covers about 6% of all cargo trucks. That leaves 94% of freight workers fully exposed to fuel-price spikes, he said. Gas stations are also under pressure. Many receive fuel from refiners in advance and settle payments later, a structure that can deepen losses when prices rise. While the government has signaled a willingness to intervene, including by mentioning a review of setting a maximum price, diesel wholesale costs are still climbing, according to industry officials. Some in the industry say diesel supply prices could rise to about 2,300 won per liter. A gas station official said fuel brought in during February was settled on March 9 at 1,520 won per liter, but the refiner notified the station that the next settlement could be set around 2,300 won. For now, stations are selling stockpiled inventory and keeping prices below 2,000 won per liter, but once reserves run out, they expect to have no choice but to post prices in the 2,000-won range. Most stations have already used up the volumes they secured in February. * This article has been translated by AI. 2026-03-09 18:14:30
  • HD Hyundai, ABS to Develop Nuclear-Linked Electric Propulsion for Zero-Carbon Ships
    HD Hyundai, ABS to Develop Nuclear-Linked Electric Propulsion for Zero-Carbon Ships HD Hyundai said Monday it has signed a joint development agreement with the American Bureau of Shipping, or ABS, to begin concept design of a nuclear-linked electric propulsion system, as it moves to secure next-generation zero-carbon ship technology. The signing ceremony was held at HD Hyundai Global R&D Center in Bundang, Gyeonggi Province, with Kwon Byeong-hun, head of the Electrification Center at HD Korea Shipbuilding & Offshore Engineering; Sim Hak-mu, head of the design division at HD Hyundai Samho; and ABS Far East Asia sales representative Matthew Muller in attendance. Under the agreement, the two sides will jointly work on a 16,000-TEU container ship, cooperating on basic design of the nuclear-linked electric propulsion system, selection of electrical equipment specifications, and layout design for power equipment. They plan to apply the characteristics of a small modular reactor, or SMR, capable of stably supplying up to 100 megawatts, and to assess the feasibility of using an SMR as a new ship power source. HD Hyundai said it will build a power management system tailored to large container ships that require long voyages and high-speed operation. It also plans to apply a twin-screw propeller system to improve propulsion and maneuverability. The company said it will adopt a direct-drive propulsion method that connects the motor directly to the propeller to minimize energy losses in power transmission and improve operating efficiency. It also said it will step up efforts to ensure safety related to nuclear power generation. Muller said the collaboration is “a very important project” to verify whether nuclear-based electric propulsion can be applied to large container ships, adding that the partners will combine HD Hyundai’s shipbuilding capabilities with ABS engineering expertise in maritime safety to comprehensively validate the safety, efficiency and environmental performance of next-generation propulsion solutions. Sim said nuclear-linked electric propulsion ships are “a groundbreaking and advanced technology” for achieving net zero, and could become a strong tool for HD Hyundai amid intense competition to lead the eco-friendly ship market.* This article has been translated by AI. 2026-03-09 14:33:16
  • Samsung SDI to Debut All-Solid-State Battery Sample for Physical AI at InterBattery 2026
    Samsung SDI to Debut All-Solid-State Battery Sample for Physical AI at InterBattery 2026 Samsung SDI will unveil, for the first time in South Korea, an all-solid-state battery technology it is developing for the era of physical artificial intelligence, including humanoid robots. According to industry sources on the 9th, Samsung SDI will publicly display a sample of a pouch-type all-solid-state battery under development for physical AI applications at InterBattery 2026, which opens March 11 at COEX in Seoul for a three-day run. The company also plans to highlight its competitiveness in core AI infrastructure by showcasing battery solutions for energy storage systems, along with ultra-high-output batteries used in uninterruptible power supplies and battery backup units that are essential for AI data centers. At the exhibition, Samsung SDI will use the slogan, “AI’s imagination, made real by batteries,” and plans to present a wide range of technologies and products in what it said will be the largest exhibition space among participating companies. Samsung SDI said it is expanding its form factors from prismatic all-solid-state batteries developed for electric vehicles to pouch-type designs, aiming to broaden applications to humanoid robots, aviation systems and next-generation wearables. The company noted that robots, with limited space for onboard components, require compact batteries that deliver both high energy density and strong output. Samsung SDI will also introduce battery solutions for AI data centers, including its UPS battery “U8A1” and a high-output battery for BBUs installed inside servers. The BBU battery is designed to quickly supply power to servers during outages to prevent data loss and to support stable power delivery even when demand surges. In addition, Samsung SDI will debut its integrated ESS solution, Samsung Battery Box (SBB), and its AI-based battery health diagnostic software, Samsung Battery Intelligence (SBI). The company said SBI analyzes battery condition, lifespan and abnormal signs to predict risks such as fires in advance. It will also display differentiated battery technologies, including a next-generation prismatic battery with an energy density of 700Wh/L. A Samsung SDI official said the company aims to show how its battery technology can “complete all possibilities in the AI era,” adding that it will present high-quality battery solutions suited to the AI era based on capabilities built up over many years.* This article has been translated by AI. 2026-03-09 08:51:19
  • South Korea Gasoline Prices Near 2,000 Won as Middle East Tensions Lift Oil
    South Korea Gasoline Prices Near 2,000 Won as Middle East Tensions Lift Oil The war involving the United States, Israel and Iran is showing signs of dragging on, sending international oil prices sharply higher. South Korea’s pump prices are also climbing, raising fears of a repeat of 2022, when gasoline rose above 2,000 won per liter amid fallout from the Russia-Ukraine war. According to the Korea National Oil Corp.’s Opinet price information system, the nationwide average gasoline price stood at 1,894.86 won per liter as of 1 p.m. on March 8, up 5.46 won from the previous day. Diesel averaged 1,917.34 won per liter, up 6.79 won. Consumers say the increase feels steeper on the ground. While the government has signaled a willingness to intervene strongly — including mentioning a review of setting a maximum price — price gains have only slowed somewhat, and some stations across the country are already posting gasoline and diesel prices in the 2,000-won range. Seoul recorded the highest averages nationwide, with gasoline at 1,945 won per liter and diesel at 1,968 won. Markets are also bracing for further increases in global crude prices. Goldman Sachs said international oil could top $100 a barrel if tensions in the Middle East do not ease. If disruptions to traffic through the Strait of Hormuz persist, it warned, supply concerns could intensify and add to upward pressure on prices. Goldman Sachs said that if a blockade of the strait continues, it cannot rule out Brent crude rising above $147 a barrel, as in past spikes in 2008 and 2022. Analysts say if oil moves above $100, South Korea’s gasoline prices would likely break through the 2,000-won threshold. As cost pressures mount, the industry says it is preparing a response. Three petroleum groups — the Korea Petroleum Association, the Korea Petroleum Distribution Association and the Korea Gas Station Association — said they would actively cooperate so that international oil price increases are not reflected too abruptly at domestic gas stations. Still, the government and consumers appear skeptical of the pledge. A delivery driver said, “If I make about 30 deliveries a day, I earn around 25,000 won, but after various costs I actually take home only about 10,000 won,” adding, “With fuel prices rising too, it feels like my insides burn every time I fill up.” Lee Eun-hee, a professor of consumer science at Inha University, said South Korea has sizable crude stockpiles, meaning there is no need to raise domestic fuel prices sharply right away even if global prices rise. “But recently the pace of increases has been excessively fast,” she said, adding that commercial drivers such as delivery workers face an unavoidable burden and that policy support such as energy vouchers should be considered.* This article has been translated by AI. 2026-03-08 18:03:38
  • SK On to Unveil CTP Integrated Pack Solutions With SK Enmove Immersion Cooling at InterBattery 2026
    SK On to Unveil CTP Integrated Pack Solutions With SK Enmove Immersion Cooling at InterBattery 2026 SK On said Sunday it will showcase a range of “CTP integrated package solutions” at InterBattery 2026, which runs for three days starting March 11, combining its cell-to-pack (CTP) technology with immersion-cooling fluid technology from SK Enmove, an in-house independent company. The move reflects SK On’s plan to expand its product portfolio from supplying cells and modules to offering battery packs. Under the theme “Unlock the Next Energy,” SK On will operate an exhibition booth featuring future technologies across three zones: Leading Tech, Core Tech and Future Tech. In the Core Tech zone, which integrates the company’s key technologies, SK On will present three CTP package types — pouch CTP, a pouch-integrated prismatic pack, and large-area cooling CTP — along with one CMP (cell-module-pack) package solution. The “pouch CTP,” targeted for commercial production in 2027, removes modules and integrates cells directly into the pack. SK On said it increases energy density while lowering manufacturing costs compared with existing systems. It also applies heat-transfer blocking technology to help prevent a problem in one cell from spreading to adjacent cells, improving safety. The “pouch-integrated prismatic pack,” planned for commercial production in 2028, directly encloses mid-nickel pouch cells in a rigid aluminum prismatic case. By eliminating modules, it reduces parts and processes while improving protection against external impacts, the company said. The “large-area cooling CTP” directly bonds an aluminum cooling plate across the broad surfaces where pouch cells contact each other, reducing the need for insulation while maximizing thermal management efficiency. SK On said it boosts cooling performance by up to three times compared with existing designs. Product verification at the battery-module level was completed last year, and commercial production is being pursued for 2028. SK On is also introducing its CMP package solution, a cell-module-pack structure widely used in applications including electric vehicles and energy storage systems. In the Future Tech zone, SK On displayed a model of an immersion-cooled battery pack that incorporates immersion-cooling fluid technology being jointly developed with SK Enmove. Two versions were shown, based on pouch CTP and CMP. SK On applied the “immersion-cooled pack” to a vehicle underbody model and visually demonstrated a small immersion-cooling module submerged in cooling fluid to make the concept easier to understand. Immersion cooling circulates an insulating fluid directly inside the pack to keep battery temperatures stable. SK On said the approach can help maintain cell performance and lifespan even in extremely cold or hot external conditions. “Through this exhibition, we are unveiling SK On’s own CTP integrated package solutions for the first time,” an SK On official said. The official added that the company plans to continue expanding its battery product portfolio by building technology synergies with SK Enmove, including immersion cooling.* This article has been translated by AI. 2026-03-08 15:33:20
  • Doosan Chairman Park Jeongwon touts AI to lead future of construction equipment
    Doosan Chairman Park Jeongwon touts AI to lead future of construction equipment Doosan said Sunday that Chairman Park Jeongwon visited CONEXPO 2026, North America’s largest construction equipment exhibition, held in Las Vegas through Friday, continuing his on-site management push. CONEXPO 2026, held March 3-7 (local time) under the theme “Breaking New Ground,” highlighted AI-based automation and autonomy, electrified equipment and connected data solutions as key technologies for smarter job sites. Doosan Bobcat set up an exhibit in the West Hall of the Las Vegas Convention Center, showcasing about 30 advanced products including compact loaders and excavators featuring AI, electrification and autonomous technologies. It also unveiled a branding strategy that splits its core compact loader lineup into an entry-level “Classic” and a premium “Pro.” Park visited the Doosan Bobcat and Doosan Motrol booths and toured displays by global competitors, focusing on the commercialization of AI-driven productivity gains and unmanned technologies. The newly introduced “Pro” models offer higher power and speed than the “Classic” line. AI features include “Jobsite Companion,” which uses voice recognition to control more than 50 functions, and “Jobsite Awareness,” which detects nearby obstacles and people and automatically slows or stops. Doosan said its compact equipment is used for varied tasks on job sites where conditions change frequently, unlike heavy machinery used for repetitive work on large sites. Tailored to that environment, Jobsite Companion is designed to help less-experienced operators improve productivity by providing AI guidance comparable to that of skilled workers. The company said it plans to launch the technology this summer, and noted it was named a finalist for CONEXPO’s Next Level Awards. Park Jeongwon said, “As AI technology applied to construction equipment and job sites advances faster, the landscape of the construction equipment market — which used to place greater weight on hardware capabilities — is changing.” He added, “Based on Doosan Bobcat’s unrivaled data accumulated over many years, let’s deliver differentiated AI technology, present the future of construction equipment and lead the market.”* This article has been translated by AI. 2026-03-08 10:12:18
  • HD Hyundai Electric to Expand Alabama Transformer Plant With $200 Million Investment
    HD Hyundai Electric to Expand Alabama Transformer Plant With $200 Million Investment HD Hyundai Electric is moving ahead with an expansion of its North American manufacturing base. The company said Sunday it held a groundbreaking ceremony March 6 (local time) for a second factory at its North American unit, HD Hyundai Power Transformers USA, in Montgomery, Alabama. The new plant will be built on the existing site and cover 29,000 square meters (about 8,800 pyeong). It is scheduled for completion in April next year. HD Hyundai Electric plans to invest about $200 million to increase extra-high-voltage transformer production capacity by 50% and to install testing and production facilities for 765-kV transformers, as demand rises for U.S. extra-high-voltage transmission grid projects. The North American unit was established in 2011 as the first U.S.-based transformer manufacturing plant set up by a South Korean power equipment company, and it is the largest power transformer production facility in the United States, the company said. A company official said the North American operation has played a key role in strengthening HD Hyundai Electric’s position in the U.S. market. “By successfully completing this second factory and creating synergy with the expansion of our Ulsan plant, which is scheduled to be completed in September this year, we will further strengthen our leadership in the North American extra-high-voltage transformer market,” the official said. Attendees at the event included HD Hyundai Electric President Kim Young-gi; Lee Jun-ho, consul general of the Republic of Korea in Atlanta; Ellen McNair, Alabama secretary of commerce; Cornelius “CC” Calhoun, chairman of the Montgomery City Council; and representatives of key customers and partner companies.* This article has been translated by AI. 2026-03-08 09:51:17
  • Posco Future M to Invest 357 Billion Won in Vietnam Synthetic Graphite Anode Plant
    Posco Future M to Invest 357 Billion Won in Vietnam Synthetic Graphite Anode Plant Posco Future M will build a synthetic graphite anode material plant in Vietnam as it seeks to stabilize supply of key battery materials. The company said its board on Wednesday approved an investment of about 357 billion won ($3570억원) to build the plant in Thai Nguyen, an industrial city in northern Vietnam. Construction is scheduled to begin in the second half of this year, with mass production planned from 2028. The plant will be built on a site that can be expanded to a maximum capacity of 55,000 tons. Posco Future M said it plans to increase output in stages depending on orders. Synthetic graphite anode material is used to improve fast-charging performance and battery life, and demand has been rising. The company said the material has drawn attention as a strategic item because supply is heavily dependent on certain countries, making diversification a priority. The company cited moves by major markets to reshape supply chains. The United States last year created requirements for “prohibited foreign entities” under implementing rules for the Inflation Reduction Act, and Europe set goals under the Critical Raw Materials Act to reduce reliance on specific countries for strategic raw materials. Posco Future M said it has been working to internalize the full supply chain for natural and synthetic graphite anode materials, covering raw materials, intermediate materials and finished products. It said it localized natural graphite anode materials in 2011 and completed a synthetic graphite anode plant in Pohang in 2021, establishing a mass-production system and supporting supply-chain self-reliance for South Korea’s battery industry. Posco Future M said Vietnam offers cost advantages in investment, electricity, labor and logistics, and can secure competitive costs compared with other Southeast Asian countries such as Indonesia. It also cited Vietnam’s industrial infrastructure, including its power grid, and said the country is pursuing export-led growth while working to create favorable trade conditions with major countries, including the United States. A Posco Future M official said the company is holding talks with multiple customers in South Korea, North America and the European Union on supplying cathode and anode materials, based on supply-chain solutions and technology that can respond to trade restrictions. The official said the company will continue to strengthen competitiveness and expand sales, aiming to become a top-tier global battery materials player. 2026-03-05 16:09:26
  • Korean Industry Urges Action as Hormuz Closure Fears and U.S. Tariffs Add Pressure
    Korean Industry Urges Action as Hormuz Closure Fears and U.S. Tariffs Add Pressure U.S.-Iran fighting has heightened fears that the Strait of Hormuz could be blocked, prompting South Korean industry leaders to press for swift countermeasures at an emergency meeting at the National Assembly on the 5th. Exporters and energy companies attended the “Democratic Party-industry emergency meeting on Middle East issues,” urging the government to respond quickly to what they called a compound crisis driven by Middle East instability and U.S. tariffs. Democratic Party lawmaker Kim Young-bae said South Korea relies on the Middle East for about 70% of its crude oil. “It’s a very grave situation,” he said, calling for diversified supply chains and tighter energy security. Democratic Party lawmaker Ahn Do-geol said crude oil stockpiles cover about 270 days, but liquefied natural gas reserves amount to only about nine days. He urged a stronger plan centered on LNG supply. Representing industry, Kim Chang-beom, vice chairman of the Federation of Korean Industries, warned that if the Iran situation drags on, it could quickly weigh on the broader economy, including energy and shipping. He said difficulties could deepen for the petrochemical sector, where restructuring has only just begun. Kim said broad government support is needed, citing key variables such as energy and logistics costs, exchange rates and non-tariff barriers. He also asked lawmakers to help pass a “special law on investment in the United States” quickly through bipartisan agreement. After opening remarks, the meeting shifted behind closed doors. Oh Tae-gil, vice president of HD Hyundai Oilbank, told reporters afterward that he asked the government to release oil from strategic reserves. He said there was no discussion of the petrochemical sector, where naphtha cracking capacity is being reduced. Democratic Party lawmaker Heo Seong-moo said response measures for the shipping industry were also discussed. He said participants raised the need to keep hotlines with embassies and consulates running smoothly to ensure the safety of employees and family members dispatched to the Middle East. Heo said a recent rise of about 200 won per liter in gasoline prices reflected, in part, psychological factors, and stressed the need for the government to send a stabilizing signal to the market. International oil prices have jumped amid the fighting, fueling controversy around domestic refiners. Critics have raised collusion suspicions after refiners adjusted prices preemptively, rather than following the usual practice of reflecting global oil-price increases two to three weeks later. Gasoline prices in Seoul topped 1,800 won per liter, the highest level in about two years and five months. The government has said it will respond strictly to unfair trading and has announced plans to hold meetings with refiners and others to review oil supply and market conditions. The meeting, hosted by the Democratic Party, was attended by Hanwha Ocean President Jeong In-seop; Samsung Electronics Vice President Yoon Young-jo; Hyundai Motor Vice President Lee Hang-soo; HD Hyundai Oilbank Vice President Oh Tae-gil; Ko Yoon-joo, head of LG’s Global Strategy Development Institute; Park Seok-joong, head of SK’s Management and Economy Research Institute; Ahn Young-mo, head of policy at GS Caltex; FKI Vice Chairman Kim Chang-beom; Jang Sang-sik, head of the Korea International Trade Association’s Institute for International Trade; and Kim Myeong-hee, vice president of the Korea Trade-Investment Promotion Agency. HMM was listed among participants but did not attend due to company circumstances, according to the report.* This article has been translated by AI. 2026-03-05 15:36:55
  • HMM Ship Waits at Dubai Port as Hormuz Strait Closure Risk Rises
    HMM Ship Waits at Dubai Port as Hormuz Strait Closure Risk Rises HMM is reviewing measures to protect the safety of its local staff and crew as the risk grows that the Strait of Hormuz could be blocked following U.S. strikes on Iran. According to the shipping industry on Monday, HMM’s Daon is anchored and waiting at Jebel Ali Port, the main gateway port for Dubai in the United Arab Emirates. Jebel Ali is the UAE’s key logistics hub and the Middle East’s largest port, serving as a major stop for container ships linking the Middle East with Africa and Europe. HMM said the Daon “is not in a danger zone and is working after arriving at its destination.” The HMM Daon is a 16,000-TEU container ship and is known to typically carry about 30 crew members. It mainly transports cargo between the Middle East — including the UAE and Iraq — and Singapore, and must pass through the Strait of Hormuz, making it sensitive to geopolitical risk. After U.S. and Israeli military action against Iran, Iran moved to control the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps claimed through local media on March 1 that it “is implementing a blockade of the Strait of Hormuz,” and said it radioed nearby vessels to prohibit passage. According to foreign media reports, Iran retaliated with drones and missiles after U.S. and Israeli strikes on Iran, sparking a fire at Dubai’s landmark Burj Al Arab hotel and threatening the airport and port facilities. The attacks were reported to have continued on Monday. HMM said it is monitoring the Daon while it remains anchored in Dubai and will decide whether to move it to a safer area depending on how the situation develops. Separately, one of more than 20 HMM container ships and tankers operating in the region had been inside the Strait of Hormuz on Sunday but exited safely. Industry officials said prolonged instability in the Middle East could make route diversions or schedule adjustments unavoidable. 2026-03-02 19:18:08