Hyundai Motor union stages first full-day strike in 10 years

Hyundai Motor labor union launched a full-day strike Friday, bringing production to a halt across the company’s key plants in South Korea as wage negotiations remain deadlocked. The walkout marks the first time since 2016 that members of the Hyundai Motor branch of the Korea Metal Workers’ Union have staged an eight-hour, full-day strike for each shift. The escalating strikes raise concerns that prolonged labor disruptions could undermine the automaker's push to revive domestic sales with new mo

2026-08-21 10:54:25:00

Why Gates’ visit matters for Korea’s SMR ambitions

Bill Gates’ latest trip to Seoul has drawn attention to a potentially bigger role for South Korea in the fast-growing global market for small modular reactors. During his visit last week, the TerraPower founder met senior government officials and the heads of SK Group and HD Hyundai. TerraPower also signed a series of new agreements that pulled Korean firms deeper into the US nuclear developer’s supply chain. SK Innovation, South Korea’s largest refiner, signed a preliminary agreement to jointly

2026-08-20 15:39:53:00

Hanwha breaks into US Army market with K9 prototypes

Hanwha Aerospace said Wednesday it had won a US Army contract to supply prototypes of its K9 self-propelled howitzer, a major breakthrough for the Korean defense industry in the world’s largest defense market. Hanwha Defense USA, the US subsidiary of Hanwha Aerospace, signed an agreement with the US Army on Tuesday to deliver prototypes of K9 Mobile Howitzers for the army’s Mobile Tactical Cannon program, which seeks to replace aging M777 towed howitzers with a highly mobile 155 mm artillery sys

2026-08-19 15:22:02:00

LG Energy Solution opens Michigan plant in AI-driven ESS push

South Korean battery-maker LG Energy Solution said Wednesday it has begun operations at its battery plant in Lansing, Michigan, aimed at capturing growing demand for energy storage systems in North America. The company said it held an opening ceremony for the LG Energy Solution Michigan-Lansing facility on Tuesday, marking its seventh production plant in North America. The ceremony was attended by Michigan Gov. Gretchen Whitmer, US Interior Secretary Doug Burgum, Republican Rep. Tom Barrett of M

2026-08-19 15:08:37:00

Korea's battery trio spend W4.3tr despite prolonged EV slowdown

South Korea’s three major battery makers poured over 4 trillion won ($2.84 billion) into plant construction and equipment upgrades in the first half of the year, keeping their capital spending steady even as the slowdown in electric vehicle demand drags on. In their first-half business reports, LG Energy Solution, Samsung SDI and SK On together spent about 4.32 trillion won on battery-related facilities. Much of the investment was allocated toward new production capacity, plant expansions and eq

2026-08-18 14:42:49:00

Trump opens door to foreign-built US ships, boosting Hanwha

US President Donald Trump has moved to allow foreign companies investing in American shipyards to build up to two ships at their home-country facilities, which could give South Korea’s Hanwha a major advantage in its US naval shipbuilding business. Trump signed a presidential memorandum Thursday aimed at rebuilding the US Navy and domestic shipbuilding industry, creating an exemption to long-standing rules against the construction of US military vessels at foreign shipyards. "As foreign shipbuil

2026-08-14 12:43:20:00

LG-GM Ohio battery plant to restart after 7-month shutdown

A battery plant jointly operated by LG Energy Solution and General Motors in Ohio will resume production next week after a seven-month shutdown, as GM reshapes its North American battery strategy amid shifting electric vehicle demand. Battery cell production at the Ultium Cells joint-venture plant in Warren, Ohio, will restart next Monday, an LG Energy Solution official said, confirming a Reuters report. The majority of workers who had been temporarily laid off will return, bringing the plant’s

2026-08-13 14:15:17:00

Korean regulators risk undermining US-Korea trade, tech alliance, expert says

A US trade and technology expert has criticized South Korean regulators for applying rules unevenly in ways that disadvantage US companies, warning that Seoul’s approach to digital regulation could undermine the expanding US-Korea trade and technology alliance. Nigel Cory, director of trade and technology at consulting firm Crowell Global Advisors and a non-resident fellow at the National Bureau of Asian Research, said in a recent article published by The National Interest that Seoul’s treatment

2026-08-12 15:03:00:00

Hyundai union intensifies strikes amid stalled wage talks

Hyundai Motor's labor union ramped up pressure on the automaker Wednesday by launching a fourth round of partial strikes, raising concerns that prolonged labor disruptions could undermine the automaker’s efforts to revive domestic sales with new models in the second half of the year. The Hyundai Motor branch of the Korea Metal Workers’ Union began four days of walkouts Wednesday, with industrial action scheduled through Tuesday after three previous rounds of partial strikes. Workers on each shif

2026-08-12 13:51:54:00

Hanwha offers up to $1.2b for Austal’s US shipbuilding arm

Hanwha Group is seeking to acquire the US arm of Austal, Australia's biggest shipbuilding company, in a move to substantially strengthen the South Korean conglomerate’s shipbuilding and defense presence in the US. Hanwha Defense USA, a US subsidiary of Hanwha Aerospace, said Tuesday it has submitted “a preliminary, non-binding offer to acquire Austal’s US business.” “Any deal will be contingent on due diligence that permits a thorough evaluation of Austal USA’s operations and financials, includi

2026-08-11 14:53:30:00