Industry

  • Samsung Biologics reappoints CEO John Rim as inside director
    Samsung Biologics reappoints CEO John Rim as inside director SEOUL, March 20 (AJP) - Samsung Biologics said Friday that shareholders reappointed Chief Executive John Rim as an inside director at the company's 15th annual general meeting. About 1,400 shareholders participated in the meeting, which was conducted both on-site and via online livestream. All five agenda items put to a vote were approved as proposed. In addition to Rim, Executive Vice President Lo Kun, who heads the EPCV Center, was also reappointed as an inside director. Ki March 20, 2026
  • Samsung Heavy wins another deal, boosts order backlog
    Samsung Heavy wins another deal, boosts order backlog SEOUL, March 20 (AJP) - Samsung Heavy Industries has won an order for one liquefied natural gas (LNG) carrier from an Oceania-based shipping company, the shipbuilder said on Friday. The order, worth 377.9 billion won (or about $252 million), is scheduled for delivery by April 2029. The deal brings the shipbuilder's cumulative orders for this year to 12 vessels worth $2.4 billion, reaching 17 percent of its annual target of $13.9 billion. They consist of four LNG carriers March 20, 2026
  • GULF CRISIS: Hormuz as much insurance chokepoint as energy lifeline
    GULF CRISIS: Hormuz as much insurance chokepoint as energy lifeline SEOUL, March 19 (AJP) - The Strait of Hormuz is not just a chokepoint for global energy flows, but for insurance that is turning pricier every day from the protracted suspension and growing risk. Ships do not pass through Hormuz simply because sea lanes are physically open. They move only when insurers are willing to price and underwrite the risk. That makes U.S. President Donald Trump’s proposal to provide war-risk insurance more than a shipping support measure. It is an March 19, 2026
  • Defense-strong Hanwha head Kim Seung-youn most well-paid business owner in Korea
    Defense-strong Hanwha head Kim Seung-youn most well-paid business owner in Korea SEOUL, March 19 (AJP) -Reflecting the rise of Korean defense power, Kim Seung-youn, the owner of defense-heavy Hanwha Group, ranked as the most well-paid conglomerate head in 2025 with his compensation package topping 20 billion won. According to Hanwha Corp.’s annual report filed on Wednesday, Kim received 5.04 billion won from Hanwha Corp. last year. He also received 5.04 billion won each from Hanwha Aerospace and Hanwha Systems, 5.041 billion won from Hanwha Solutions, a March 19, 2026
  • Samsung Electronics adds AMD on HMB4 client list after Nvidia
    Samsung Electronics adds AMD on HMB4 client list after Nvidia SEOUL, March 18 (AJP) - Samsung Electronics added AMD after Nvidia on its burgeoning client list for next-generation high bandwidth memory dubbed HBM4, gaining traction in the crucial in HBM race move to inference AI stage. A memorandum of understanding (MOU) with U.S. chip designer AMD to expand strategic partnership in next-generation AI memory and computing technologies was signed at Samsung’s Pyeongtaek campus. Under the terms of the agreement, Samsung will sup March 18, 2026
  • Samsung Elec AGM turns euphoric despite unions party-crashing strike news
    Samsung Elec AGM turns euphoric despite union's party-crashing strike news SUWON, March 18 (AJP) - Samsung Electronics’ annual general meeting struck an unusually buoyant tone Wednesday as a surging share price and AI-driven optimism lifted investor sentiment — even as a looming union strike cast a shadow over the outlook. More than 1,000 shareholders gathered at the Suwon Convention Center with little to complain about. The stock has nearly quadrupled from a year ago, while the company is now targeting 200 trillion won ($150 billion) in March 18, 2026
  • Samsung Electronics union threatens walkout after near-unanimous strike vote
    Samsung Electronics union threatens walkout after near-unanimous strike vote SEOUL, March 18 (AJP) - More than 60,000 employees out of 89,874 union members at Samsung Electronics have voted to go on a general strike in May if their demands for fair and transparent compensation during the chip boom are not met, posing a potential headwind to the chipmaker’s AI-driven upswing. The joint union coalition announced Wednesday that 93.1 percent of participating members voted in favor of a strike in a 10-day ballot. A total of 66,019 employees from three se March 18, 2026
  • LG Energy Solution to start producing ESS batteries at Tennessee plant
    LG Energy Solution to start producing ESS batteries at Tennessee plant SEOUL, March 18 (AJP) - LG Energy Solution (LGES) will begin producing lithium iron phosphate (LFP) battery cells for energy storage systems at its plant in Spring Hill, Tennessee, the battery maker said on Wednesday. Production will be carried out through LGES' joint venture with General Motors, Ultium Cells, with an investment of about US$70 million to convert part of its existing electric-vehicle battery line for ESS production. Mass production is scheduled to start in the March 18, 2026
  • SK hynix owed 70% to US and 25% to Nvidia for record 2025 sales
    SK hynix owed 70% to US and 25% to Nvidia for record 2025 sales SEOUL, March 17 (AJP) - SK hynix has effectively pivoted into an American-centric powerhouse, with nearly 70 percent of its record-breaking 2025 revenue originating from U.S. customers, with NVIDIA alone accounting for a quarter, according to its annual business report released Tuesday. The fiscal transformation, fueled by an insatiable appetite for High Bandwidth Memory (HBM) among Silicon Valley giants, pushed the company into a "net cash" position for the first time March 17, 2026
  • GULF CRISIS: Korean naval ability to answer Trumps Hormuz call in doubt
    GULF CRISIS: Korean naval ability to answer Trump's Hormuz call in doubt SEOUL, March 17 (AJP) - U.S. President Donald Trump made pretty much clear that Washington expects South Korea to join escort operations in the Strait of Hormuz, but defense experts doubt the country's navy capabilities can meet the call. Iran’s Islamic Revolutionary Guard Corps has attacked at least 10 vessels, including tankers and tugboats, using missiles and surface drones, and threats to strike any attempting to pass the waterway off Iran coastline. A strategic c March 17, 2026