Industry

  • Korean-made gas turbines will be exported to US for first time
    Korean-made gas turbines will be exported to US for first time SEOUL, October 13 (AJP) - South Korea's Doosan Enerbility said Monday that it has signed a deal to export two large gas turbines to the United States, marking South Korea’s first overseas shipment of domestically developed turbine technology. Under the agreement, Doosan will supply two 380-megawatt gas turbines to a major U.S. technology company by the end of next year. The company did not identify the buyer but described the contract as a landmark step in its push October 13, 2025
  • South Koreas OCI Holdings to acquire solar wafer plant in Vietnam
    South Korea's OCI Holdings to acquire solar wafer plant in Vietnam SEOUL, October 13 (AJP) - OCI TerraSus, a wholly owned subsidiary of South Korea’s OCI Holdings, said Monday that it has established a new company in Singapore to take a majority stake in a solar wafer plant in Vietnam — a move aimed at strengthening its supply chain for U.S.-bound solar products. The new entity, OCI ONE, will acquire a 65 percent stake in a wafer plant built by Elite Solar Power Wafer in Vietnam. The facility, expected to be completed by the end October 13, 2025
  • Koreas shipping industry urges POSCO to abandon bid for HMM
    Korea's shipping industry urges POSCO to abandon bid for HMM SEOUL, October 13 (AJP) - South Korea’s shipping industry is pushing back against steel giant POSCO Group’s reported plan to acquire HMM, the nation’s largest container carrier, warning that such a move could destabilize the sector and undermine decades of maritime expertise. The Korea Shipping Association said in a statement on Monday that it had submitted a formal letter to POSCO Chairman Jang In-hwa, urging the company to withdraw from the bidding process. October 13, 2025
  • Seoul moves to confront rising crimes against Koreans in Cambodia
    Seoul moves to confront rising crimes against Koreans in Cambodia SEOUL, October 13 (AJP) - South Korea’s presidential office convened a task force meeting on Monday to address a surge in crimes targeting South Korean nationals in Cambodia, including a string of abductions and job-related scams that have alarmed families and prompted calls for stronger protection measures. Wi Sung-lak, head of the National Security Office, chaired the meeting, which brought together senior officials from the Foreign Ministry, Justice Ministry, and Nati October 13, 2025
  • Battery materials maker EcoPro BM to establish European subsidiary
    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 electri October 13, 2025
  • LG Energy Solution Q3 profit surges 34% on pre-expiry U.S. EV credit boost
    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 October 13, 2025
  • South Korea ranks second in antibiotic use among OECD nations
    South Korea ranks second in antibiotic use among OECD nations SEOUL, October 13 (AJP) - South Korea ranks second among developed nations in antibiotic consumption, raising alarm among health authorities over growing risks of drug resistance. According to data from the Korea Disease Control and Prevention Agency (KDCA) and the Organization for Economic Cooperation and Development, South Koreans used 31.8 defined daily doses (DID) of antibiotics per 1,000 people per day in 2023 — the second highest level among OECD members. The figu October 13, 2025
  • Sales of gold bullion surge as more people turn to safer assets
    Sales of gold bullion surge as more people turn to safer assets SEOUL, October 12 (AJP) - As gold prices continue to soar, savvy people and investors are increasingly turning to the precious metal to grow their assets amid record-low interest rates. According to relevant data released on Sunday, total balances in bank accounts at South Korea's top three banks - KB Kookmin, Shinhan, and Woori - stood at 1.51 trillion Korean won as of early this month, up 95.9 billion won in just about a week from the end of last month and up 730.8 billion won October 12, 2025
  • South Korea, U.S. trade chiefs to meet in Washington amid deadlock in tariff-related negotiations
    South Korea, U.S. trade chiefs to meet in Washington amid deadlock in tariff-related negotiations SEOUL, October 12 (AJP) - South Korea and the U.S. will hold ministerial-level talks later this week amid an impasse in tariff-related negotiations between the two countries. Finance Minister Koo Yun-cheol is scheduled to meet with U.S. Treasury Secretary Scott Besant on the sidelines of the G20 Finance Ministers and Central Bank Governors' Meeting and the International Monetary Fund (IMF)'s annual gathering in Washington, D.C., which are set to take place from Monday thro October 12, 2025
  • Shares of South Korean power equipment suppliers surge despite US tariff uncertainty
    Shares of South Korean power equipment suppliers surge despite US tariff uncertainty SEOUL, October 10 (AJP) - South Korea's leading power equipment suppliers saw their share prices surge sharply despite stalled tariff-related negotiations with the U.S. Shares of HD Hyundai Electric rose 5.12 percent to close at 657,000 Korean won, as KOSPI trading resumed on Friday after a weeklong break for the country's biggest Chuseok holiday. Its market competitors also saw strong gains, with shares of Hyosung Heavy Industries jumping 5.52 percent and those of LS E October 10, 2025