Anticipations are growing for the Korean shipbuilding industry’s entry into the U.S. warship maintenance, repair and overhaul (MRO) business as the U.S. Secretary of the Navy, who is in charge of the U.S. Navy’s weapons procurement and budget, has praised the capabilities of the Korean shipbuilding
As the commercialization of all-solid-state batteries, often referred to as the “battery of dreams,” approaches, Korean battery materials companies are pumping up their efforts to build an ecosystem.According to industry sources on April 10, Samsung SDI recently started building a domestic supply ch
Korea’s shipbuilding order intake surpassed China’s for the first time in three years in the first quarter of 2024.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced that shipbuilding orders in the first quarter of this year totaled US$13.6 billion, surpassing China’s US$12.6 billio
As the polarization of wages between employees of large and small companies has become a big social issue amid concerns about low growth, attention has been focused on the wages of those at large companies rising rapidly every year.The Korea Enterprises Federation (KEF) has sent out recommendation l
Samyang, which has been expanding its high-tech materials business since its 100th anniversary, will launch its battery materials business in earnest.Samyang announced on March 26 that it has invested 3 billion won in Solid Ionics, a solid-state electrolyte development and production company. Samyan
In February, automobile exports, production, and domestic sales declined from the same month of 2023 and the previous month of January.The descent was attributable to a slowdown in the growth of electric vehicle sales in both the Korean and overseas markets, as well as a drop in production and shipp
HD Hyundai, the intermediate holding company for shipbuilding of HD Korea Shipbuilding & Offshore Engineering [009540], announced on March 18 that it has recently signed a construction contract for three ammonia carriers (VLAC) with an Oceanian shipping company. The total order amount is 490 billion
HD HHI held a ceremony in honor of the start of the construction of a next-generation Aegis Destroyer 2 at its specialty yard in Ulsan, Korea, on March 12.At the ceremony, participants wished for the successful construction of the ship by placing the first block on the dock. The ceremony indicates t
Since the beginning of this year, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has achieved over 50 percent of its 2024 annual order target within just two months.HD KSOE announced on March 4 that it had signed construction contracts for two medium-sized liquefied petroleum gas (LPG) carri
Hyundai Heavy Industries Power Systems (HPS), together with HD Korea Shipbuilding & Offshore Engineering (KSOE) and CE-TEK has signed a joint development program agreement for the research and development of Onboard CCS demonstration units.The Onboard CCS demonstration unit is scheduled to undergo c
HD Hyundai Shipbuilding & Offshore Engineering, HD Hyundai Heavy Industries (HHI), Hyundai Mipo Shipbuilding, and Hyundai Samho Heavy Industries announced on Feb. 28 that they recently held a Marine Platform Technology Council meeting with Siemens Digital Industries Software at Hyundai Mipo Shipyard
Korea’s Anti-Corruption & Civil Rights Commission (ACRC) has dismissed HD Hyundai Heavy Industries’ complaint against the results of a bid to build the next frigate for the Korean Navy.According to industry sources, the ACRC recently sent a resolution to dismiss HD HHI’s complaint about the results.
The government plans to accelerate the expansion of K-food exports. It aims to achieve exports of US$13.5 billion this year and has set a target of US$23 billion by 2027.On Feb. 20, the Ministry of Agriculture, Food and Rural Affairs announced the “K-Food+ Export Innovation Strategy” to nurture K-fo
HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai, has won two orders for very large ammonia carriers (VLACs).HD KSOE said in a public disclosure on Feb. 20 that it recently signed construction contracts for two VLACs with an African-based client. The
Korean shipbuilders lagged behind Chinese shipbuilders to take second place in global ship orders in January.Global ship orders totaled 2.57 million CGT (96 ships) in January, down 26 percent year on year, according to Clarkson Research, a U.K.-based shipbuilding and shipping market research firm. O
On Feb. 6, a joint research team at the Ulsan National Institute of Science and Technology (UNIST), led by Professor Lee Jae-sung, Professor Jang Ji-wook, and Professor Seok Sang-il from the Department of Energy and Chemical Engineering and Professor Lim Han-kwon from the Graduate School of Carbon N
Korea-based automakers exported 2.76 million vehicles to 196 countries in 2023, according to the Korea Automotive and Mobility Industry Association (KAMA). This was the highest in eight years since 2015. Exports to the U.S. smashed the 1-million-unit milestone.Six Korea-based carmakers -- Hyundai Mo
The world’s most efficient quantum dot (QD) solar cell has been developed by the Ulsan National Institute of Science and Technology (UNIST). A quantum dot solution and a device used in the development of the solar cell can maintain high performance even after long-term storage, taking a step closer
HD Hyundai announced on Jan. 28 that it held a naming ceremony for a 16,200 TEU methanol-powered super-sized container ship at HD Hyundai Heavy Industries in Ulsan, Korea.Measuring 351 meters in length, 54 meters in width, and 33 meters in height, the vessel is the first of the 18 mega container shi
As international oil prices and refining margins both experienced a simultaneous decline in the fourth quarter of last year, the oil industry’s performance was once again placed in a state of emergency.In the worst-case scenario, four major oil companies -- SK Energy, GS Caltex, S-Oil, and HD Hyunda