Cho Hyun-joon drives Hyosung’s US expansion with circuit breaker plant

Hyosung Heavy Industries is expanding its manufacturing footprint in the US by producing high-voltage circuit breakers in Pennsylvania, as surging power demand from artificial intelligence and data centers drives investment in the US grid. The South Korean power equipment maker’s US subsidiary, Hyosung HICO, signed an agreement with a subsidiary of Quanta Services, a Texas-based energy infrastructure company, in June to establish Hyosung HICO Breaker. The new joint venture is expected to begin p

2026-09-18 15:24:52:00

Doosan to invest record W970b for high-end CCLs on AI boom

Doosan Corp. said Thursday it will invest 970 billion won ($701.66 million) to expand production capacity for high-end copper-clad laminate, as surging investment in artificial intelligence data centers drive demand for advanced electronic material. The investment, the largest ever made by Doosan in its CCL business, will be split between South Korea and China and carried out in phases through 2028, the company said in a regulatory filing. The company plans to invest 420 billion won to expand pr

2026-09-17 15:33:47:00

Posco International invests $550m in US shale gas

Posco International is acquiring a US shale gas asset for $550 million, in a deal expected to generate more than 100 billion won ($72 million) in annual operating profit from 2028, while expanding its natural gas business from production, LNG liquefaction and trading. The trading and energy arm of Posco Group said Thursday that it signed an agreement Monday to take over a 100 percent stake in shale gas assets owned by a subsidiary of Chord Energy Corp., Texas-based exploration and production com

2026-09-17 14:58:20:00

Labor unrest spreads across Korea’s steel, shipbuilding sectors

Labor unrest is intensifying across key South Korean manufacturing industries: Steelmaker Posco launched a partial strike Wednesday and shipbuilder HD Hyundai Heavy Industries extended its walkout to nearly a full workday. The labor union at Posco launched a second round of partial strikes at 7 a.m. Wednesday, set to run for 120 hours until Monday. It follows just days after workers staged the first strike in the company’s 58-year history. The latest action targets the No.2 hot-rolling mill at P

2026-09-16 15:06:22:00

Could Trump open America’s door to Chinese cars?

Chinese automakers have been largely shut out of the US by steep tariffs and national security restrictions. US President Donald Trump, however, has signaled that the door may not remain closed. Trump said last week he would welcome Chinese automakers that build vehicles in the US and hire American workers, unsettling global rivals that have long viewed America as one of the last major markets insulated from Chinese competition. “If China wanted to come in and open a plant to build their cars he

2026-09-15 12:48:12:00

Hyundai Steel reaches first deal under revised labor law

South Korean steelmaker Hyundai Steel and unions representing workers at four of its subsidiaries have reached a labor deal, marking the first such agreement between a main parent company and subcontracted workers since South Korea’s revised labor union law took effect six months ago. The Ministry of Employment and Labor said Thursday that Hyundai Steel and its four subsidiaries, Hyundai ITC, Hyundai IEC, Hyundai IMC and Hyundai ISC, signed a collective bargaining agreement at the steelmaker’s D

2026-09-10 15:13:11:00

Posco strike continues into second day as longer walkout looms

Posco’s union continued a partial strike for a second day on Thursday, with no production disruptions reported so far, though a prolonged walkout could begin to weigh on operations if wage talks remain stalled. The union launched a two-day walkout at 7 a.m. Wednesday, marking the first partial strike at Posco since the company was founded in 1968. The Posco union, affiliated with the Korean Metal Workers’ Union, said about 20 workers at parts of the No. 2 electrical steel plant in Pohang, North

2026-09-10 14:51:36:00

Prosecutors renew prison demand for LG heir, husband in insider trading appeal

Prosecutors on Wednesday again sought prison sentences for Koo Yeon-kyung, the eldest daughter of late LG Group Chair Koo Bon-moo, and her venture capitalist husband Yoon Kwan, in an appeal, accusing the couple of trading on undisclosed information. The couple was acquitted of all charges in the first trial. At a final hearing in the Seoul High Court, prosecutors requested the appellate court to impose the same sentences they had demanded in the lower court. Prosecutors had requested a two-year

2026-09-10 14:31:53:00

Beyond the rally: Can Korea build a lasting premium?

After an unprecedented rally put South Korea’s stock market back on global investors’ radar, the market is facing a new test. A correction has brought volatility back to the forefront, turning attention to the semiconductor heavyweights that fueled much of the rally and raising questions over how long the momentum can continue. Yet for policymakers and investors, the bigger question goes beyond the next semiconductor cycle: Has Korea simply enjoyed another cyclical upswing, or is its capital mar

2026-09-09 15:34:46:00

Seoul eyes $22.3b Texas gas project as first under $350 US investment pact

South Korea is considering spending $22.3 billion on a natural gas power project in Texas, which would mark the first investment under its $350 billion commitment to the US, according to government sources Tuesday. The project proposed for Encinal, Texas, would build a 6.3-gigawatt gas-fired power plant in Texas to meet surging electricity demand fueled by the rapid expansion of artificial intelligence data centers and advanced semiconductor facilities in the state. The industry ministry had rep

2026-09-08 15:09:46:00