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  South Korea's refining edge turns Achilles' heel in Gulf shock SEOUL, April 14 (AJP) — South Korea’s world-class oil refining industry — long a pillar of its export strength — is fast turning into a structural vulnerability as the Gulf crisis disrupts energy flows and exposes the economy’s deep dependence on imported crude. Global investment banks are rapidly turning cautious. French lender Natixis on Monday slashed its 2026 growth forecast for South Korea to 1 percent from 1.8 percent, marking one of the st April 14, 2026
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  Hanwha Ocean ramps up Canada submarine bid with Halifax talks SEOUL, April 14 (AJP) - Hanwha Ocean is ramping up its bid for Canada’s $40 billion submarine program, as its chief executive met with government and shipbuilding officials in Halifax. According to Hanwha Ocean on Tuesday, CEO Kim Hee-cheol recently visited Halifax, Canada, where he met with Premier of Nova Scotia Tim Houston and other provincial officials to explore potential collaboration for the submarine program. The talks covered defense readiness, MRO capabilities, wo April 14, 2026
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  Korean Air posts record Q1 revenue as Middle East risks loom SEOUL, April 13 (AJP) - Korean Air posted record first-quarter revenue despite rising geopolitical risks in the Middle East. The airline said Monday it recorded 4.52 trillion won ($3.03 billion) in revenue and 516.9 billion won in operating profit for the first quarter on a standalone basis. Revenue rose 14.1 percent from a year earlier, marking the highest first-quarter performance in the company’s history. Operating profit climbed 47.3 percent year-on-year, while net prof April 13, 2026
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  Korean LCCs streamline routes and payroll on Gulf war impact SEOUL, April 13 (AJP) - The Gulf war is not yet two months old, but South Korean low-cost carriers are already scaling back long-haul routes and trimming payroll as surging fuel costs and a weakening won curb overseas travel. T’way Air has begun accepting applications for unpaid leave from cabin crew, marking its first such program since August 2024, according to industry sources Monday. The airline said the move is intended to manage crew fatigue and adjust workloads follo April 13, 2026
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  Kumho Tire to supply tires for Škoda's electric SUVs SEOUL, April 13 (AJP) - Kumho Tire will supply original equipment (OE) tires to Czech automobile manufacturer Škoda Auto, the tiremaker said on Monday. Kumho's flagship Ecsta PS71 tires, designed to optimize handling and braking on both dry and wet roads, will be fitted on Škoda Auto's electric SUVs, the Enyaq and Elroq, both built on Volkswagen's MEB electric vehicle platform. Škoda Auto has been a wholly owned subsidiary of the Volkswagen Group sin April 13, 2026
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  South Korea posts record early-April exports despite Middle East crisis SEOUL, April 13 (AJP) - Despite geopolitical risks amid the prolonged conflict in the Middle East, South Korea posted its highest-ever exports for the first 10 days of this month, driven by strong demand for semiconductor chips. According to data from the Korea Customs Service (KCS) released on Monday, exports during the period from the first day of April to last Friday totaled US$25.21 billion, up 36.7 percent from a year earlier, surpassing the previous record for the same period, April 13, 2026
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  Kia's fully facelifted Seltos leads small SUV market last month SEOUL, April 13 (AJP) - Kia sold 4,983 units of its Seltos in the domestic market last month, the most in the small sports utility vehicle (SUV) segment for March, according to sales figures released by its parent company Hyundai Motor on Monday. Kia gave the Seltos its first major facelift in six years, giving it a bolder, more angular look in line with the brand's overall lineup, along with improved convenience and safety features. The popular SUV has held the top spot in its April 13, 2026
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  S. Korea secures 80 pct of May crude needs without tapping reserves, minister says SEOUL, April 12 (AJP) - South Korea has secured about 80 percent of its crude oil import needs for May and expects to weather the ongoing supply disruptions triggered by the Middle East conflict, Minister of Trade, Industry and Resources Kim Jung-kwan said. Kim said the volume of crude oil locked in for May had risen by 10 percentage points from the previous week, bolstered by private-sector stockpiles held by domestic refiners. "We believe we can get through April and May w April 12, 2026
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  EcoPro secures C$6 mln from Canada to develop all-solid-state battery materials SEOUL, April 12 (AJP) - South Korean battery materials maker EcoPro said it has secured 6 million Canadian dollars (about $4.3 million) in research funding from Canada's federal government to develop lithium metal anode technology for next-generation all-solid-state batteries. The grant, awarded to EcoPro Lithium — a unit of subsidiary EcoPro Innovation — falls under Ottawa's Energy Innovation Program, which aims to bolster domestic battery supply chains. EcoPro April 12, 2026
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  Hanwha's capital playbook under scrutiny as FSS halts Solutions' rights offering SEOUL, April 10 (AJP) - South Korea’s financial regulator has put the brakes a 2.4 trillion won ($1.7 billion) rights offering by Hanwha Solutions, in a move that is drawing attention to the group’s broader capital-raising practices and governance structure. The Financial Supervisory Service (FSS) on April 9 ordered the company to revise its securities filing, citing incomplete formal requirements and insufficient or unclear disclosure of key information that could hin April 10, 2026