Hanwha outpaces chaebol rivals in market cap growth

Hanwha Group has witnessed the biggest increase in corporate value among South Korea’s top 10 conglomerates this year, highlighting its key role in the country’s recent trade negotiations with the US. As of Aug. 1, the market capitalization of Hanwha Group and its 12 listed subsidiaries on the nation’s main bourse, the Kospi exchange, skyrocketed 177.5 percent to 120.7 trillion won ($86.9 billion) compared to the end of 2024. This marks the highest growth rate among South Korea's 10 biggest corp

Aug. 5, 2025

Korean shipbuilders form MASGA task force to boost US industry ties

South Korea’s big three shipbuilders — HD Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries — established a task force to bolster the “Make American Shipbuilding Great Again” initiative, aimed at revitalizing the US shipbuilding industry. According to industry sources Monday, the recently launched task force was coordinated by the Korea Offshore & Shipbuilding Association and consists of one employee and one executive from each of the three companies. Having held a preliminary

Aug. 4, 2025

Trump’s China tariffs reshape US ESS market, offer boon for Korean batteries

The market for energy storage systems, or ESS, in the US is at a critical juncture, as Korean battery-makers move to fill the gaps left by domestic players hurt by tariffs. Oregon-based Powin, once a top-three ESS integrator, filed for bankruptcy after tariff-driven costs on Chinese battery imports surged, exposing how vulnerable US firms are to foreign supply shocks. The shift, driven by Donald Trump’s push to curb Chinese dominance, is opening the door for Korean firms to ramp up local product

Aug. 3, 2025

Hyundai, Kia lose FTA edge as Korea accepts US tariff hike

The reduction of US tariffs on South Korean automobiles to 15 percent offers only limited relief for Hyundai Motor Group, which faces mounting challenges in the world’s second-largest car market. Stripped of its former zero-tariff advantage under the FTA, the automaker is bracing for a tougher fight to maintain its competitive edge. According to Seoul's presidential office, Korea and the US negotiated a 15 percent tariff on Korean-made automobiles on Thursday, lowering the rate from 25 percent.

July 31, 2025

Behind Korea’s tariff deal: Chaebol diplomacy at work

As South Korea and the United States reached an agreement on tariffs on Wednesday, attention is turning to the behind-the-scenes role of Korea’s top business tycoons, who acted as de facto special envoys in the critical final days of negotiations. Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Chung Euisun, and Hanwha Group Vice Chairman Kim Dong-kwan all made high-profile visits to the US this week, lending their corporate firepower to support Seoul’s diplomatic

July 31, 2025

LG Energy Solution wins $4.3b battery deal, likely with Tesla

LG Energy Solution has secured a 5.9 trillion won ($4.3 billion) deal to supply lithium-iron phosphate battery cells, likely for Tesla’s energy storage systems, solidifying its position as the only producer of these cost-effective batteries in the US. According to LG Energy Solution’s regulatory filing on Wednesday, it will supply LFP cells for a global client for three years from Aug. 1, 2027, to July 31, 2030, with the possibility of extending the contract to 2034. This agreement represents 23

July 30, 2025

Hanwha vice chief heads to Washington to aid tariff talks

Hanwha Group Vice Chairman Kim Dong-kwan has traveled to Washington, reportedly to support South Korea’s efforts to leverage Korean shipbuilders’ investments in ongoing trade negotiations with the United States. According to media reports, Kim flew to Washington on Monday as part of a South Korean delegation, which also includes Finance Minister Koo Yun-cheol and Industry Minister Kim Jung-kwan. He plans to stay through Friday, the deadline for the negotiations, working alongside the nation's to

July 29, 2025

Samsung SDI beats rivals in W1tr government ESS bid

Samsung SDI has secured the lion's share of the 1 trillion won ($725 million) worth of South Korean energy storage systems up for government bidding, leveraging its technological prowess in the advanced battery cells. According to media reports Monday, Samsung SDI won bids for six out of Korea’s eight ESS projects, outpacing its domestic rivals — LG Energy Solution and SK On. This was the first round of ESS construction project bids overseen by the government, and covered a total of 3,390 megawa

July 28, 2025

Kia logs 24.1% drop in profit amid US tariffs

Kia said Friday that its operating profit declined 24.1 percent on-year to 2.8 trillion won ($2 billion) in the second quarter, largely due to the 25 percent automobile tariffs imposed by the US. According to Kia’s conference call on earnings from April to June, its operating profit margin declined to 9.4 percent, marking a single-digit figure for the first time in 10 quarters. Its sales revenue reached a record high of 29.3 trillion won, with a 6.5 percent increase from the previous year. “The

July 25, 2025

LG Energy Solution posts 152% growth in profit on upbeat US sales

LG Energy Solution said Friday its operating profit in the second quarter surged 152 percent on-year to 492.2 billion won (357 million), predominantly led by stable demand for electric vehicles and energy storage systems in the North American market. According to the company’s earnings report, it achieved profitability for the first time in six quarters, excluding financial benefits from the Advanced Manufacturing Production Credit under the US Inflation Reduction Act (IRA). However, sales reven

July 25, 2025