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HD Hyundai Heavy Industries

May 15, 2026 by Leave a Comment
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HD Hyundai Heavy Industries Builds World’s First Ammonia-Powered Gas Carrier

HD Hyundai Heavy Industries has successfully built the world’s first ammonia-powered vessel (photo). The company held a naming ceremony at its Ulsan shipyard for two 46,000-cubic-meter mid-sized gas carriers equipped with dual-fuel engines.
The two vessels, Antwerpen and Arlon, were named after cities in Belgium. They are the first and second of four ammonia-powered mid-sized gas carriers ordered by Exmar LPG France, a subsidiary of Exmar, in 2023 and 2024. The vessels will be delivered to the shipowner in May and late July, respectively, following final outfitting. Each vessel measures 190 meters in length, 30.4 meters in width and 18.8 meters in height, and is equipped with three cargo tanks designed and built using the company’s proprietary technology. The ships can safely transport liquefied gases such as ammonia and liquefied petroleum gas.

They are also fitted with a shaft generator that produces electricity using a propulsion system and a nitrogen-oxide reduction system to enhance environmental performance. Safety features include real-time ammonia-leak detection and emission-recovery systems.
Ammonia, a carbon-free fuel, can be stored in pressurized or low-temperature tanks without requiring ultra-low-temperature technology. When liquefied, it offers about 1.7 times higher storage density than liquid hydrogen, making it suitable for large-scale, long-distance hydrogen transport and storage.


 
 
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LS to Build More Plants in Vietnam

May 15, 2026 by Leave a Comment
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Logistics center Phu My Port is mentioned as a new base

Amid the rapid growth of the global ultra-high voltage cable market driven by a surge in power demand fueled by artificial intelligence (AI), LS Cable & System has set out to expand the production-capacity of its Vietnamese subsidiary, LS Eco Energy.
According to the power industry, LS Eco Energy is searching for a site to expand its plant to increase its local production capabilities in Vietnam.

LS Eco Energy is considering new investments because its existing local production subsidiaries have reached a saturation point. LS Eco Energy is currently operating LS-VINA in Hai Phong, a city in the northern region of Vietnam, and LSCV in Ho Chi Minh City, in the southern region. Among these, LS-VINA is the only company in Vietnam capable of producing 200 kV ultra-high voltage cables and holds the top market share in the local market. Last year, a surge in export volumes to the United States and Europe contributed to LS Eco Energy achieving its best-ever performance.

The plan is to secure production capabilities for 400 kV super ultra-high voltage cables, which are used for transmitting large-scale power over long distances.
There are also predictions that the scale could be expanded by merging with investments from other LS Group affiliates, including E1, a liquefied petroleum gas (LPG) import and distribution company. The explanation is that the LS Industrial Complex will be established in Vietnam by aggregating demands from various companies.
 
 
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Korea’s Steel Industry

May 15, 2026 by Leave a Comment
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Specialty Steel Becomes a Breakthrough for Survival of Korea’s Steel Industry

Hyundai Steel creates a dedicated organization
POSCO develops steel materials for transmission networks
SeAH Steel Holdings targets Europe

The domestic steel industry has begun targeting the ‘next-generation energy infrastructure’ market, focusing on specialty steel materials related to power grids, energy storage systems (ESS), offshore wind power, and data centers.
According to industry sources, major steel makers are actively moving to dominate the specialty steel market in the energy infrastructure sector by creating a dedicated organization.

Hyundai Steel is taking the most active steps by operating the Next-Generation Power Infrastructure Task Force (TF) Team. Orders that the company has received for its steel materials for ESS enclosures (steel cases protecting power equipment such as batteries) for North America reached 10,500 tons last year, the first year of supply and 52,000 tons this year, exceeding the target five-fold.
POSCO has targeted the power grid, data center, and solar energy markets. In collaboration with Korea Electric Power Corporation (KEPCO), the company developed steel specifically for long-distance high-voltage direct current transmission (HVDC) towers and secured new demand of 90,000 tons per year.
‘PosMAC,’ the highly corrosion-resistant alloy steel sheet developed by POSCO, is expanding its application beyond solar power structures in extreme environments to ESS parts. The company is also increasing its market share in the artificial intelligence (AI) data center server room field, where space efficiency is essential by introducing ‘Pos-H,’ a customized beam structural material.
SeAH Steel Holdings is achieving significant results in its main business area, the offshore wind power substructure market. The company will supply all 62,000 tons of specialty heavy wall pipes, the largest ever, to the Shinan Ui Island Offshore Wind Power Project with a total project cost of KRW 2.6 trillion.
Dongkuk Steel Group has released D-Megabeam, a specialty steel material that can withstand the ultra-high loads of ultra-large data centers. In addition, the company is actively pursuing a new business of directly constructing and operating a data center.


 
 
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the Korean shipbuilding industry

May 15, 2026 by Leave a Comment
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Korean Shipbuilders Selectively Receive Orders for High-Value-Added Ships

Receiving many orders for large oil tankers including
ammonia and LNG carriers

South Korea’s top shipbuilders are set for a sharp earnings rebound.
According to financial information company FnGuide, the combined operating profit of HD Korea Shipbuilding & Offshore engineering, Hanwha Ocean and Samsung Heavy Industries is projected to reach KRW 1.9221 trillion in the first quarter, up 54.9% year on year. Combined revenue in the same period is forecast to rise 13.6% to KRW 14.0996 trillion.

By company, HD Korea Shipbuilding & Offshore Engineering is expected to post revenue earnings of KRW 7.7866 trillion in the first quarter, up 14.99%, and operating profit of KRW 1.1902 trillion, up 38.53%. Hanwha Ocean’s revenue in the first quarter is projected to reach KRW 3.3020 trillion won, up 5.06%, with operating profits rising 48.22% to KRW 383.3 billion.
Samsung Heavy Industries is forecasted to record the strongest profit growth, with revenue of KRW 3.0110 trillion (up 20.71%) and operating profit of KRW 348.6 billion (up 183,24%).
The three shipbuilders have concentrated on selectively receiving orders for high-margin vessels such as liquefied natural gas (LNG) carriers, liquefied petroleum gas (LPG) and ammonia carriers, and very large crude carriers (VLCC).
HD Korea Shipbuilding & Offshore Engineering secured orders for 54 vessels worth USD 5.94 billion in the first quarter, achieving 25.5% of its annual target (USD 23.31 billion). Its diversified portfolio includes 10 LNG carriers, 20 container ships, five LPG and ammonia carriers, seven crude oil tankers and 12 petrochemical carriers (PC carriers).
Samsung Heavy Industries won orders for 16 vessels, including six LNG carriers, two very large gas carriers (VLGC), four crude carriers, and two containers, worth USD 3.1 billion ― thereby reaching 22.3% of its annual target (USD 13.9 billion).
Hanwha Ocean secured orders for 12 vessels, including four LNG carriers, seven VLCCs and one offshore wind installation vessel, worth USD 2.43 billion.
This momentum has continued into the second quarter. HD Korea Shipbuilding & Offshore Engineering recently added new orders for four LPG carriers and eight PC carriers, worth KRW 1.2008 trillion, bringing cumulative orders to USD 6.74 billion (66 vessels), representing about 29% of its annual target.


 
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Hyundai Motors to Introduce All of its Hydrogen Value Chains in Japan

April 15, 2026 by Leave a Comment
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Driving range of 720km, surpassing Toyota
Scheduled for launch in Japan in the first half of this year

Hyundai Motor Group will solidify its position as a global leader in the hydrogen sector by introducing all of its hydrogen value chains in Japan, the birthplace of hydrogen.
Especially designed for models to be launched in Japan, a vehicle-to-home (V2H) function that can supply power to homes in case of an emergency, considering disaster situations such as earthquakes and power outages. Hyundai Motors will launch The All-New Nexo in the first half of this year. In addition to passenger models, hydrogen-electric trucks and hydrogen-electric tram models will also be shown at this exhibition.

Hyundai Motor Group is also demonstrating its capabilities as an ‘energy solution company’ beyond just being an automobile manufacturer. ‘The hydrogen automatic EV charging robot,’ developed by Robotics Lab will show a charging demonstration of The All-New Nexo. This robot enables 24-hour unmanned charging without human intervention, through vision AI technology.
The company will also display a model of a packaged hydrogen-charging station to expand the hydrogen charging infrastructure. This charging station is designed to modularize core facilities in the form of containers so that they can be freely placed, both horizontally and vertically. In addition, it is considered a practical alternative to solving the problem of securing land for charging stations in urban areas, which is the biggest obstacle to the supply of hydrogen cars, by incorporating multi-layering and undergrounding technology.
Furthermore, Hyundai Motor will also unveil its hydrogen-burner technology for decarbonizing the manufacturing process. Starting with the company’s plant in Ulsan, it will convert to hydrogen about 5,000 liquefied natural gas (LNG) burners in domestic production bases and introduce it to more production bases in North America and Europe.
Hyundai Motor established a hydrogen research and development organization in 1998 and has been conducting research for 30 years.

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Hyundai Mobis Obtains Huge Orders in Europe

April 15, 2026 by Leave a Comment
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Jackpot in Europe following the USA
Recognized for its supply capabilities and technology

Hyundai Mobis will supply chassis modules on a large-scale to Mercedes-Benz in Europe after its success in North America. Hyundai Mobis announced that it has signed a contract with Mercedes to supply chassis modules, and has operated a dedicated production base in Hungary for this purpose. It plans to supply chassis modules for electric and hybrid vehicles through this new plant in Hungary and build facilities for mixed manufacturing with gas and diesel vehicles.

The chassis houses components such as steering, braking, and suspension that runs under the vehicle body. When these devices are installed on the vehicle body, it is called a chassis module, which is considered a key component that determines driving stability. As vehicle parts are integrated and provided in a package format, there are many cases where supply continues for a long time once trust relationships with customers are established.
The industry also sets a high value on the fact that the company has established a forward base in Hungary, targeting the European market, where premium automakers are located. Hyundai Mobis’ new European plant in Kecskemét , central Hungary, is the size of seven football fields (equivalent to 50,000 square meters). Recently, Hungary has been rapidly emerging as an automobile and battery production hub in Eastern Europe. Production bases of major battery cell companies such as Samsung SDI, SK On, and CATL as well as finished car makers such as BMW have been built, resulting in annual production of 500,000 new cars.

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Doosan Enerbility Expands its North America Invasion Strategy

April 15, 2026 by Leave a Comment
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Expected to supply to Mask’s xAI
Secured order for two additional 370MW units

Doosan Enerbility has won a contract with a U.S. company to supply steam turbines and generators for power supply to data centers. This marks the first time Doosan Enerbility has supplied steam turbines to North America.
Doosan Enerbility announced that it recently signed a contract with a U.S. big-tech company to supply two 370 MW-class steam turbines and two generators for power supply to data centers. With the company securing steam turbine orders, following its export of gas turbines last year, it has strengthened its foothold in the North American market.
Doosan Enerbility is reported to have signed a contract last year to supply a total of 12 gas turbines to xAI’s data center.

Steam turbines are a core component of combined cycle power plants, using exhaust-heat from gas turbines to generate additional electricity and significantly boosting energy efficiency. Combined cycle power generation refers to a high-efficiency generation system in which a gas turbine is driven by gas including liquefied natural gas (LNG), and the heat produced in this process is then used to drive a steam turbine a second time. Because AI centers consume massive amounts of electricity around the clock, highly efficient and reliable power facilities are essential.
Building on this latest order, Doosan Enerbility plans to accelerate exports of its combined cycle power-generation model to utility companies and independent power producers (IPPs) across North America.
It is analyzed that the company has gained a competitive edge in bidding for future large-scale combined-cycle power projects by securing gas-turbine and steam-turbine supply-performance in the North American market.


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Imminent First Export of Korean-Made Supersonic Fighter KF-21

April 15, 2026 by Leave a Comment
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The countdown is on for the first exports of Korea’s supersonic fighter plane, KF-21. The KF-21’s first client is Indonesia, a joint-development participant, with an export volume of 16 units.
It is reported that Korea Aerospace Industries (KAI) is expected to sign an export fulfillment contract in Jakarta as early as the first half of this year after subsequent negotiations with Indonesia.
Initially, Indonesia planned to introduce 48 KF-21s (equivalent to three squadrons), but decided to sign for only 16 of them first due to defense -budget constraints. In addition, it was disclosed that detailed consultations have been held since the beginning of this year with local defense authorities and Kat participating.

Meanwhile, KAI has made another advance by formalizing the new presidential system under Jong-chul Kim. The management gap, which lasted for about eight months since the retirement of former president Gu-young Kang, who was appointed by the previous government, has been resolved.
President Kim explained, “We will strengthen strategic cooperation with domestic defense companies in line with the government’s Team Korea policy,” adding, “We will establish a horizontal communication system to create a ‘One Team KAI’ in which all executives and employees, including subsidiaries, are committed to achieving common goals.”

 
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SK Innovation Wins KRW 3.3 Trillion Power Plant Order in Vietnam

March 18, 2026 by Leave a Comment
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Securing a strategic energy base in Southeast Asia

Pursuing a business model that integrates the entire process of from procurement to storage and power generation of LNG

SK Innovation has been selected as the operator of a large LNG liquefied natural gas (LNG) power plant in Quynh Lap, Nghe An Province, Vietnam, thereby accelerating its global LNG business expansion. This is a massive project, with a total project cost of USD 2.3 billion (approximately KRW 3.3 trillion). SK is projected to secure a strategic foothold in the Southeast Asian energy market.

This is a large-scale energy infrastructure project that will simultaneously build a 1500MW gas combined thermal power plant; a 250,000m3 LNG terminal; and a dedicated port in the Quynh Lap area, about 220km south of Hanoi. It is a project aimed at stabilizing the supply and demand of electricity in Vietnam and expanding the industrial base with an integrated structure of power generation, storage, and supply functions.
SK Innovation has acquired business rights from the government of Nghe An province by forming a consortium with PV Power, for power generation under the Vietnam National Oil and Gas Group (PVN) and local company NASU. The goal is to begin construction in 2027 and complete LNG terminals and power plants in 2030.
The LNG value chain capabilities that SK Innovation has been building will be applied to this project. The strategy is to secure fuel supply and demand stability and price competitiveness at the same time through a business model that integrates the entire process from LNG procurement to storage and power generation.
Vietnam has maintained a power structure centered on coal and hydropower, but has faced chronic power shortages due to recent rapid industrialization and population growth. LNG is emerging as a practical transition energy source in a situation where it is not easy to expand coal and hydroelectric power generation due to environmental pollution and climate risks.
With this project, SK Innovation plans to expand its LNG business in Vietnam and increase its global LNG portfolio, currently about 6 million tons per year, to 10 million tons by 2030, thereby advancing as a global energy company.

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K-Steel’s Key to Success for 2026is Overseas Localization

March 18, 2026 by Leave a Comment
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POSCO expands its range of high-value-added products
Hyundai Steel to begin construction of an integrated steel mill in the USA

Korea’s steel industry is slowly emerging from a slump

Hyundai Steel announced that it recorded KRW 22.7332 trillion in sales and KRW 21902 billion in operating profit on a consolidated basis last year. Although its sales fell 2.1% from the previous year (KRW 23.22 trillion), its operating profit rose 37.4% from KRW 159.5 billion. It is explained that the cost-reduction effects resulting from declining iron ore and coal prices and lowered steel-product export freight rates led to improved profitability.

POSCO successfully rebounded last year, recording KRW 1.78 trillion in operating profit in its steel sector (on a separate basis), an approximately 20% increase from the previous year (KRW 1.473 trillion). This was achieved by increasing the proportion of high-value-added automotive steel and electrical steel and normalizing selling prices to increase profitability.
POSCO is strengthening its North America automotive steel plate supply network through partnerships, including equity investments, with Cleveland-Cliffs, the No. 2 steelmaker in the United States. Meanwhile, in India, POSCO plans to pursue the establishment of a joint integrated steel mill with JSW, the No. 1 steel maker in India, to directly meet growing market demand.
In Korea, Pohang Steel Mill will specialize as a base for energy and structural steel plates, and Gwangyang Steel Mill for automotive and electrical steel plates ― while reducing energy and improving facility efficiency at the same time. It also plans to respond to environmental regulations such as the Carbon Border Adjustment Mechanism (CBAM) by accelerating investment in decarbonization facilities, including the construction of a hydrogen-reduced steel demo plant and the completion of the Gwangyang electric furnace.
Hyundai Steel and POSCO are partnering to build an electric arc furnace-based integrated steel mill in Louisiana, USA, with a total investment of KRW 8.5 trillion, to establish a local automotive steel plate production system. It is planned to begin construction in the third quarter of this year, with the goal of starting commercial production in the first quarter of 2029. The company intends to respond to global demand for low-carbon steel plates for complete vehicles while increasing supply to North American factories of Hyundai Motor Company and Kia.

 
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