Hyundai Rotem signs deal for local production of K2 tanks in Poland SEOUL, April 28 (AJP) - Hyundai Rotem has signed a contract with a Polish defense firm for the production and maintenance of South Korea's K2 battle tank, it said on Tuesday. The signing ceremony, which follows a preliminary deal signed in August last year, was held in Warsaw the previous day and was attended by Hyundai Rotem CEO Lee Yong-bae and Bumar-Łabędy CEO Monika Kruczek. Under the contract with Bumar-Łabędy, a subsidiary of Poland's state-run defense group Polsk April 28, 2026

Hanwha Ocean posts 71% surge in Q1 operating profit on high-value ships, FX SEOUL, April 27 (AJP) - South Korean shipbuilder Hanwha Ocean reported better-than-expected earnings for the first quarter, driven by a higher share of high-value vessels and favorable exchange rates. The shipbuilder said in a regulatory filing on Monday that its consolidated operating profit rose 70.6 percent year-on-year to 441.1 billion won ($300 million) in the January–March period. The figure exceeded the market consensus of 375 billion won by 17.6 percent. Revenue cam April 27, 2026

Samsung, SK hynix morph into AI foundries as Big Tech reshapes chipmaking SEOUL, April 27 (AJP) - The traditional line between memory makers and foundries is rapidly blurring as Samsung Electronics and SK hynix pivot toward customized chip production to meet surging artificial intelligence demand. As AI workloads grow more specialized, Big Tech clients are no longer buying standardized memory at scale but demanding tightly integrated, tailor-made solutions such as High Bandwidth Memory (HBM) co-designed with their own architectures — forcing Korea April 27, 2026

Korea-Japan rivalry may spill over to defense after Tokyo's lift of weapons ban  SEOUL, April 27 (AJP) - The historic industrial rivalry between South Korea and Japan—once defined by a relentless "car war"—is migrating toward a high-stakes defense-industrial faceoff. As Tokyo pivots away from decades of postwar pacifist constraints to permit the export of lethal platforms, it enters a market where Seoul currently enjoys a global "golden age." While both nations operate as critical linchpins of the U.S. security architecture in April 27, 2026

Samsung union flags 18% output hit, raises stakes with 18-day strike threat SEOUL, April 27 (AJP) - Unionized workers at Samsung Electronics said last week’s rally cut memory output by nearly 20 percent, signaling the scale of disruption a looming 18-day strike could unleash on global chip supply. In a statement Monday, Choi Seung-ho, head of the company’s Enterprise Union branch, said a hours-long rally on April 23 led to a 58 percent drop in foundry production and an 18 percent decline in memory chip output, based on overnight wafer transfer April 27, 2026

Korea Zinc's Tennessee smelter gains a rare fast-track federal greenlight SEOUL, April 27 (AJP) - Korea Zinc's $7.4 billion Tennessee smelter - largely funded by Washington - has been fast-tracked to expedite the first zinc refinery project in the United States since the 1970s. The company said Project Crucible, its planned non-ferrous metals complex in Clarksville, has been designated a covered project under FAST-41, a Washington program run by the Federal Permitting Improvement Steering Council (Permitting Council) that consolidates federal permitt April 27, 2026

CJ CheilJedang deepens Vietnam retail partnership to boost K-food reach SEOUL, April 27 (AJP) - CJ CheilJedang is deepening its foothold in Vietnam's fast-growing processed food market through an expanded partnership with Bach Hoa Xanh, the country's largest supermarket chain. The company announced Monday it signed a memorandum of understanding with Bach Hoa Xanh, a subsidiary of Vietnam's largest retail group MWG, on April 23 in Hanoi to jointly develop processed food products, bolster cold-chain infrastructure and broaden consumer reach f April 27, 2026

Strike could deal heavy blow to Samsung, academic warns SEOUL, April 26 (AJP) - A looming large-scale strike by unionized Samsung Electronics workers, amid an ongoing compensation dispute, could lead to significant economic losses, disrupting global supply chains if it goes ahead next month, according to an academic analysis. The chip giant's labor union has threatened to stage a three-week strike from May 21 to June 7 if negotiations fail. Speaking at a forum in southern Seoul last week hosted by think tank Ahnmin Institute for P April 26, 2026

Icebreakers emerge as Korea's answer to Gulf risks  SEOUL, April 24 (AJP) - The opening of Arctic shipping routes could solve multiple problems for South Korea, a country entirely dependent on crude imports, by cutting voyage distances by up to 30 percent and bypassing volatile Gulf waters. The question is how. South Korean shipbuilders are moving closer to an answer as they double down on icebreakers — specialized vessels designed to crush sea ice and keep frozen shipping lanes open. HD Hyundai Heavy Industries recently sig April 24, 2026

Kia Q1 profit fall near 30% on higher U.S. tariffs and Gulf shipping costs SEOUL, April 24 (AJP) — South Korean carmaker Kia, like its sister company Hyundai Motor, suffered a double-digit decline in earnings in the first quarter despite record sales, as higher tariff costs on U.S. shipments and shipping disruptions linked to Gulf tensions weighed on profitability. Operating profit fell 26.7 percent on year to 2.2 trillion won ($1.52 billion), reflecting an estimated 755 billion won increase in U.S.-related tariff costs compared to a year earlier, April 24, 2026