Industry

  • Hanwha showcases Korean THAAD L-SAM at Belgium defense expo
    Hanwha showcases 'Korean THAAD' L-SAM at Belgium defense expo SEOUL, March 11 (AJP) - Hanwha is set to showcase its long-range surface-to-air missile interceptor, known as the “Korean THAAD,” at the BEDEX defense exhibition in Belgium as it seeks to expand its presence in the European defense market. Hanwha Aerospace and Hanwha Systems said Tuesday they are participating in BEDEX, a defense exhibition taking place in Brussels from March 12 to 14, marking the first time a South Korean company has taken part in the event. The exhi March 11, 2026
  • Renault unveils futuREady strategy, plans 36 new models by 2030
    Renault unveils 'futuREady' strategy, plans 36 new models by 2030 SEOUL, March 11 (AJP) - Renault Group unveiled its new mid-to-long-term strategic plan dubbed "futuREady," charting an aggressive course to roll out 36 new models by 2030 as the French automaker seeks to cement its position as Europe's benchmark carmaker amid intensifying global competition. The plan revealed Tuesday (local time), succeeding the Renaulution turnaround strategy launched in 2021, sets a target of more than 2 million annual vehicle sales by 2030, with hal March 11, 2026
  • SK hynix expands AI memory portfolio beyond HBM with LPDDR6 breakthrough
    SK hynix expands AI memory portfolio beyond HBM with LPDDR6 breakthrough SEOUL, March 11 (AJP) - SK hynix said Tuesday it has developed the world’s first 16-gigabit LPDDR6 DRAM built on its sixth-generation 10-nanometer-class (1c) process, positioning the chipmaker to capture the next wave of artificial-intelligence demand spilling over from data centers to smartphones and mobile front. The new mobile memory, designed for devices running on-device AI, improves data processing speed by 33 percent and boosts power efficiency by more than 20 perce March 11, 2026
  • Koreas HMM joins wave of force majeure as Iran war disrupts Strait of Hormuz
    Korea's HMM joins wave of force majeure as Iran war disrupts Strait of Hormuz SEOUL, March 11 (AJP) -South Korea’s flagship container carrier HMM has joined a wave of force majeure declarations sweeping global shipping as the Iran war disrupts maritime traffic through the Strait of Hormuz, one of the world’s most critical trade and energy chokepoints. The company told shippers Wednesday that maritime security near the strait had deteriorated sharply due to the outbreak of war, hostile acts and attacks on commercial vessels, forcing it to impose March 11, 2026
  • Samsung shares head north on record R&D, buyback plan in AI chip push
    Samsung shares head north on record R&D, buyback plan in AI chip push SEOUL, March 11 (AJP) - Shares of Samsung Electronics headed north as investors welcomed the South Korean tech behemoth’s record spending — amounting to nearly a third of last year’s revenue of over $200 billion — to advance chipmaking capabilities in the AI-driven era while sharing the memory boom with shareholders. According to its 2025 business report disclosed Tuesday, the company invested a record 37.7 trillion won ($28.3 billion) in research and deve March 11, 2026
  • Hyundai Motor Group overtakes Volkswagen in profitability, claims global No. 2 spot
    Hyundai Motor Group overtakes Volkswagen in profitability, claims global No. 2 spot SEOUL, March 11 (AJP) - Hyundai Motor Group surpassed Volkswagen Group in annual operating profit for the first time last year, securing the No. 2 position among global automakers in a milestone that underscores the South Korean conglomerate's rising dominance in an increasingly competitive industry. The group, which encompasses Hyundai Motor Company, Kia and premium line Genesis, posted a combined operating profit of 20.55 trillion won ($13.99 billion) in 2025, comfortably ecli March 11, 2026
  • Hanwha Advanced Materials showcases lightweight composite solutions for EVs at global convention
    Hanwha Advanced Materials showcases lightweight composite solutions for EVs at global convention SEOUL, March 11 (AJP) - Hanwha Advanced Materials is presenting a suite of lightweight composite solutions for electric vehicles at JEC World 2026, the world's largest composites exhibition running from Tuesday to Thursday in Paris, as the South Korean materials maker ramps up its push into the global mobility market. The company is exhibiting products designed to address two pivotal challenges in EV development — weight reduction and safety — including a lightweight March 11, 2026
  • Middle East conflict squeezes Korean chip supply chain as helium shipments face disruption
    Middle East conflict squeezes Korean chip supply chain as helium shipments face disruption SEOUL, March 10 (AJP) - The widening Middle East conflict is beginning to bite into South Korea’s industrial supply chains, with the semiconductor sector facing growing concern over disruptions to helium shipments — a critical gas used in advanced chip manufacturing. The de facto disruption of shipping routes through the Persian Gulf has hit South Korea particularly hard given the country’s heavy reliance on Middle Eastern energy and industrial materials that fe March 10, 2026
  • USFK diverts air-defense assets to Middle East as Freedom Shield scales back 
    USFK diverts air-defense assets to Middle East as Freedom Shield scales back  SEOUL, March 10 (AJP) - The United States has redeployed portions of its air-defense architecture from South Korea to the Middle East as tensions with Iran escalate, coinciding with this year's scaled-back Freedom Shield (FS) joint exercise. According to reports from the Washington Post and real-time flight tracking data, the Pentagon has shifted elements of the Terminal High Altitude Area Defense (THAAD) system out of South Korea while also drawing Patriot interceptor units fro March 10, 2026
  • Hormuz halt deepens crisis for Koreas petrochemical makers
    Hormuz halt deepens crisis for Korea's petrochemical makers SEOUL, March 10 (AJP) - South Korea's petroleum refining and petrochemical industries are bracing for a deepening "compound crisis" as the Middle East war sends crude oil, naphtha and liquefied natural gas prices surging while new labor regulations threaten to complicate urgently needed restructuring. The prolonged conflict between the United States, Israel and Iran has sharply disrupted energy supply chains across Asia, with tanker traffic through the Strait of Hormuz March 10, 2026