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Celltrion broke the 500 billion won ($374 million) quarterly operating profit mark for the first time in the third quarter, as high-margin biosimilars and lower costs powered another record performance. According to Celltrion on Monday, it posted preliminary consolidated revenue of 1.5 trillion won and operating profit of 510 billion won for the July-to-September period, up 45.8 percent and 69.2 percent, respectively, from a year earlier, marking record-high earnings for the third consecutive qu
Hyundai Steel has launched H ONE, a unified brand combining its rolled and built-up H-beams, as it targets growing demand from projects such as AI data centers, semiconductor plants and high-rise buildings. The company unveiled the brand at Pangyo Tech One in Seongnam, Gyeonggi Province, with representatives from construction companies, distributors, steel fabricators, structural design firms and industry associations attending. Demand for more diverse H-beam specifications is increasing as data
South Korean battery materials makers challenge China’s near-monopoly with a fresh push into lithium iron phosphate cathodes as US restrictions and energy storage demand create an opening for Korean suppliers. Posco Future M and L&F, long focused on nickel-rich cathodes for electric vehicles, are converting production lines, building dedicated LFP plants, and locking in multitrillion-won supply deals with Korea’s major battery makers. Behind the shift is a rapid expansion of energy storage syste
US defense technology firm Anduril Industries’ $6.6 billion push to build critical components for US Navy submarines is putting fresh focus on its partnership with HD Hyundai, raising the possibility of deeper cooperation in submarine manufacturing and smart shipyards. HD Hyundai said it was open to expanding the partnership, although the two companies had not held specific discussions about the Korean shipbuilder’s involvement in the project. Anduril, which specializes in artificial intelligenc
Artificial intelligence’s next breakthrough will come not from ever-larger language models, but from systems that can understand, predict and act in the physical world, AI pioneer Yann LeCun said Monday, arguing that “world models” will drive the next phase of AI. The shift could give South Korea an opening in the global AI race by playing to its strengths in manufacturing, robotics and engineering, LeCun and other global AI leaders said at an industrial AI panel discussion in Seoul. Rather than
SK Group Chairman Chey Tae-won called Monday for a market system that financially rewards companies for the social value they create, asserting that measuring impact will not draw enough capital to tackle mounting social challenges. “Relying on altruism alone cannot generate the scale needed to address growing social problems,” Chey said at the opening session of the Social Enterprise World Forum’s inaugural Ecosystem Leadership Exchange in Seoul. “A sophisticated, performance-based incentive sy
Samsung SDS has agreed to acquire South Korean air cargo consolidator Woojung Air Consolidation, seeking to strengthen its freight forwarding operations through Incheon Airport. The IT services and logistics company signed a share purchase agreement Monday to acquire a 100 percent stake in Woojung Air, with the transaction expected to close by year-end, according to industry sources. Founded in 1999, Woojung Air specializes in consolidating smaller shipments into larger loads and securing cargo
Gaon Cable said Monday it plans to add a nuclear power cable production line at its US subsidiary in North Carolina, targeting growing demand as the country expands nuclear capacity to meet surging electricity needs. The South Korean cable maker will establish the line at LSCUS in Tabor City, expanding its US-made portfolio beyond overhead transmission lines to specialized cables for conventional nuclear reactors and small modular reactors. The move comes as soaring power demand from artificial
SK Group said Monday it will launch a two-year, full-time artificial intelligence training program for young adults, offering participants 3 million won ($2,200) a month as they work on real-world AI projects. The program, called SK AIGen — “AI” plus “generation” — is designed to develop practical skills for the AI era rather than focus on conventional academic credentials. Participants will identify problems facing individuals, businesses and society and develop AI-based solutions either indepe
US President Donald Trump has touted Korea Zinc’s planned multibillion-dollar smelter in Tennessee as a major investment secured through his tariff policies, putting the Korean metals company’s “Project Crucible” in the spotlight as Washington seeks to strengthen domestic critical mineral supply chains. Speaking at a campaign rally in Clarksville, Tennessee, Saturday, Trump singled out Korea Zinc’s investment as evidence that his trade policies are attracting foreign capital and creating America
Gentle Monster vs. Blue Elephant: Behind K-eyewear's global boom, a bitter battle over imitation
Musinsa brings Japanese fashion to Seoul with Zozotown
AmCham chief receives honorary doctorate from Korea Aerospace University
Korea's manufacturing jobs rise for first time in 27 months
Bentley hits the battlegrounds in PUBG's latest update
Samsung's top brass convene in Tokyo as Japan chip ties deepen
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