Industry

  • South Koreas Daebang, Woomi, Jungheung builders face probe for unfair internal dealings
    South Korea's Daebang, Woomi, Jungheung builders face probe for unfair internal dealings SEOUL, December 31 (AJP) - South Korea’s antitrust watchdog said on Wednesday it had uncovered four cases of unfair internal transactions involving large business groups this year, imposing a combined 93.5 billion won ($70 million) in fines and referring three companies to the prosecution. Corrective orders and fines were issued against Daebang Construction, Jungheung Construction, Woomi Construction and CJ Group, while the three builders were reported to prosecutors, acco December 31, 2025
  • Doosan Enerbility secures 575 billion won deal to build offshore wind farm
    Doosan Enerbility secures 575 billion won deal to build offshore wind farm SEOUL, December 31 (AJP) - South Korea's Doosan Enerbility has signed an engineering, procurement and construction (EPC) contract to build the 104-megawatt Yeonggwang Yawol offshore wind farm in South Korea. The project involves installing 13 offshore wind turbines, each with a capacity of 8 megawatts, off Nakwol-myeon in Yeonggwang-gun, South Jeolla Province. Doosan Enerbility said the contract is valued at 575 billion won ($430 million) and covers the full EPC scope, inclu December 31, 2025
  • Celltrion forecasts record quarterly revenue, operating profit for Q4
    Celltrion forecasts record quarterly revenue, operating profit for Q4 SEOUL, December 31 (AJP) - Celltrion said Wednesday that it expects to post record-breaking fourth-quarter results, projecting revenue of 1.28 trillion won ($889 million) and operating profit of 472.2 billion won for the October-December period. The South Korean biopharmaceutical giant's forecast marks a 20.7 percent year-on-year surge in revenue and a 140.4 percent jump in operating profit, with operating margin reaching 36.8 percent. Should the projections hold, Celltrion&# December 31, 2025
  • Samsung Electronics begins manufacturing operations in Kazakhstan
    Samsung Electronics begins manufacturing operations in Kazakhstan SEOUL, December 31 (AJP) - Samsung Electronics has officially launched the production of televisions and washing machines in Kazakhstan, marking the South Korean tech giant's first manufacturing presence in the Central Asian nation. The Embassy of Kazakhstan in South Korea said Wednesday that the new production lines are operating at the Silk Road Electronics plant in Saran, a city in the Karaganda Region. The facility currently employs more than 1,100 people. The project i December 31, 2025
  • KAIST nuclear engineering professor named head of Korean Nuclear Society
    KAIST nuclear engineering professor named head of Korean Nuclear Society SEOUL, December 31 (AJP) - Choi Sung-min, a professor of the Department of Nuclear and Quantum Engineering at the Korea Advanced Institute of Science and Technology (KAIST), will assume office as new president the prestigious Korean Nuclear Society, effective Jan. 1. Choi earned his bachelor’s and master’s degrees in nuclear engineering from Seoul National University, before completing a master’s degree and a doctorate at the Massachusetts Institute of Technolo December 31, 2025
  • MASGA shipbuilding push lifts outlook for Korean yards
    MASGA shipbuilding push lifts outlook for Korean yards SEOUL, December 31 (AJP) - South Korea’s shipbuilding industry is expected to gain momentum next year as a bilateral initiative with the United States aimed at revitalizing American shipbuilding moves toward full implementation, industry officials said on Wednesday. The project, dubbed MASGA, short for “Make American Shipbuilding Great Again,” is designed to support Washington’s efforts to rebuild domestic shipbuilding capacity. South Korean yards are wid December 31, 2025
  • State creditor bank demands more aggressive output cut from Korean naphtha makers
    State creditor bank demands more aggressive output cut from Korean naphtha makers SEOUL, December 30 (AJP) -The government is intensifying pressure on South Korea's major petrochemical producers to further reduce naphtha cracking capacity during the prolonged industrial slump, demanding more aggressive streamlining from Hanwha, DL and Lotte tenants of Yeocheon complex, industry sources said. According to the sources on Tuesday, Lee Bong-hee, executive vice president and head of corporate finance at the Korea Development Bank (KDB), visited Yeocheon NCC on December 30, 2025
  • Korea faces unavoidable shift toward renewables, nuclear power: energy minister
    Korea faces unavoidable shift toward renewables, nuclear power: energy minister SEOUL, December 30 (AJP) - South Korea faces an unavoidable shift in its energy mix as it confronts the climate crisis, requiring a combination of carbon-free renewable energy and nuclear power while gradually phasing out coal and gas, Climate, Energy and Environment Minister Kim Sung-hwan said on Tuesday. Kim made the remarks at the First Energy Mix Policy Forum held at the National Assembly, calling for a pragmatic and science-based approach to energy policy. Kim said t December 30, 2025
  • New nuclear reactor in Ulsan gets green light for operation
    New nuclear reactor in Ulsan gets green light for operation SEOUL, December 30 (AJP) - The government committee for nuclear energy on Tuesday gave a green light to the operation of a nuclear reactor in Ulsan, ahead of its commercial launch scheduled for sometime next year. The committee said it approved the operation of the Saeul-3 reactor, formally known as Kori, in Ulju, Ulsan, after a meeting in which five of six members voted in favor, following safety reviews by the state-funded Korea Institute of Nuclear Safety as well as prior assessm December 30, 2025
  • US softens export curbs on chip equipment for Samsung, SK hynix plants in China
    US softens export curbs on chip equipment for Samsung, SK hynix plants in China SEOUL, December 30 (AJP) - The United States has decided to partially ease planned restrictions on shipments of semiconductor manufacturing equipment to Samsung Electronics and SK hynix plants in China, helping the South Korean chipmakers avoid immediate and significant operational disruptions, industry officials said on Tuesday. Washington had been preparing to revoke the companies’ broad export authorization status and require case-by-case approvals for each shipment of December 30, 2025