Topic
south-korea
Logistics South Korea moves to build one of Asia's largest ship recycling hubs
South Korea's Elegant Exit Company, RM Company, and ISSAC Green Tech have signed an MoU for a large-scale ship dismantling hub, according to Splash247. Japan's NYK and Oono Development are targeting a 2028 recycling startup at Chita. The moves follow the Hong Kong Convention entering into force in June 2025 and South Korea's accession last December.
Logistics HMM pauses new container ship orders, shifting focus to tankers and gas carriers
Hyundai Merchant Marine (HMM), South Korea's flag carrier, is pausing finalization of newbuild orders for at least ten 13,000-TEU LNG dual-fuel container ships planned for the second half of 2026, instead focusing on Suezmax tankers, MR petroleum tankers, VLGCs, and LNG carriers. The shift comes amid warnings of newbuild-driven oversupply, geopolitical cost pressure, and trade policy risks, according to the company's Q1 2026 earnings release.
Logistics Vafias-backed Stealth Maritime Orders Two More MR Tankers from HD Hyundai, Extending $1.3bn South Korea Newbuilding Drive
Harry Vafias-backed Stealth Maritime has ordered two additional 50,000 dwt MR product tankers at HD Hyundai Heavy Industries for $53m each, extending a South Korean newbuilding drive valued at around $1.3bn. The company now has at least 15 tankers under construction at South Korean yards across MR, LR2, suezmax and VLCC segments, with deliveries stretching through 2030.
Technology Samsung Posts Record $62 Billion Operating Profit on AI Chip Boom in Q2
Samsung Electronics posted a record operating profit of 89.5 trillion won ($62 billion) in Q2 2026, driven by surging AI memory chip demand. The semiconductor division offset losses in mobile and appliances, as the company expects continued undersupply. Meanwhile, rivals SK Hynix also reported record revenue, and Samsung announced massive investments alongside global AI partnerships.
Finance South Korea's Kospi tumbles 6% as SK Hynix miss, AI spending fears trigger chip rout
South Korea's benchmark Kospi index plunged 6% on Wednesday, closing at 5,663.24, its lowest since early April. The selloff was led by a 9.4% drop in SK Hynix after quarterly earnings missed forecasts, and a 4.8% decline in Samsung Electronics. Renewed concerns over high AI valuations and China's progress in low-cost AI models weighed on the sector, with regional markets like Japan's Nikkei and Taiwan's Taiex also falling.
Business South Korea's KOSPI Crashes 10.8%: Circuit Breaker Triggered as Semiconductor Rout Deepens
South Korea's KOSPI plunged 10.84% on Tuesday, its worst session in five months, driven by a rout in semiconductor stocks SK Hynix and Samsung Electronics. A circuit breaker was triggered for the eighth time this year. Foreign investors net sold 5 trillion won ($3.42 billion), while concerns over Chinese chipmaker CXMT's blockbuster IPO added to selling pressure.
Logistics Pan Ocean Confirms Two VLCC Newbuildings at Qingdao Beihai Shipyard
South Korean shipowner Pan Ocean has confirmed a pair of VLCC newbuildings at CSSC-controlled Qingdao Beihai Shipbuilding. The 319,000 dwt ammonia-ready vessels are scheduled for delivery in September 2030, priced around $122m each, according to market sources. This follows a single same-design VLCC ordered in March, bringing Pan Ocean's VLCC orderbook at the yard to three ships.
Finance SK Group Chairman Chey Tae-won Ordered to Pay Ex-Wife $644 Million in Landmark Divorce Ruling
A South Korean court has ordered SK Group chairman Chey Tae-won to pay his ex-wife 944bn won ($644m) in a divorce settlement, reduced from an earlier 1.38tn won ruling. The case, involving the second-largest chaebol and its AI-focused subsidiary SK Hynix, carries corporate governance implications for investors and trade finance professionals.
Logistics Yang Ming selects Hanwha Ocean for $1.2bn six-ship LNG dual-fuel newbuilding programme
Yang Ming Marine Transport has selected Hanwha Ocean for a six-ship newbuilding programme worth up to $1.22bn, with 13,000 TEU LNG dual-fuel vessels. The order is part of a fleet renewal plan to replace older tonnage and serve major east-west trades. Final contract terms are still under discussion.
Manufacturing HD Hyundai and Kiewit Offshore Services Partner to Expand US Shipbuilding Capacity
HD Hyundai and Kiewit Offshore Services (KOS) have signed a strategic partnership agreement to expand US shipbuilding capacity and strengthen the American maritime industrial base. The collaboration will focus on fabricating ship blocks and modules, leveraging HD Hyundai's design and shipbuilding technology with KOS's large-scale fabrication expertise from Gulf Coast facilities.
South Korea's 390MW Shinan-Wi Offshore Wind Project Enters Construction Phase
Korea Midland Power's 390MW Shinan-Wi offshore wind project has moved into construction after closing financing. The $2.26bn project will install 26 15MW turbines, generate 950,000MWh annually, and source substation equipment from domestic companies. Financing includes project debt from KDB and KB Kookmin Bank, plus policy loans from the National Growth Fund and Future Energy Fund.
Finance Kospi Plunges 7% into Bear Market as Strait of Hormuz Closure Sparks Global Sell-Off
South Korea's Kospi index fell 511 points to 6,964.76, a 7% decline, placing it in bear market territory 25% below June peak. The sell-off was triggered by Iran's claim of closing the Strait of Hormuz, pushing oil prices up more than 4%. Technology heavyweights SK Hynix and Samsung Electronics led losses, falling 10% and 6% respectively. Despite the correction, the Kospi remains the world's best-performing major index in 2026, up 63% year-to-date.
SK Hynix raises $26.5bn in record US share sale, tapping AI chip demand
SK Hynix raised $26.5bn in a New York share offering, the largest ever by a foreign firm in the US. The South Korean chipmaker, a key Nvidia supplier, sold 177.9 million American depositary shares at $149 each, with demand reportedly over seven times the available shares. The listing gives US investors direct access to the AI chip boom without trading overseas.
Business Kospi's AI Rally Collapses: South Korean Benchmark Tumbles 7%, Sidecar Triggered
South Korea's benchmark KOSPI tumbled over 7% on Tuesday, reversing from record highs, as investors sold AI-heavy technology stocks despite strong Samsung earnings. The Korea Exchange activated a sell-side sidecar, and the rout hit major names like Samsung, SK Hynix, and Hanwha Ocean.
Technology South Korea Unveils $1 Trillion Chip and AI Investment Plan to Boost Manufacturing
South Korea has unveiled a plan for about $1tn (£760bn) in investments to build out chip manufacturing and AI capabilities. The so-called Three Mega Projects aim to develop semiconductor hubs, data centres, and robotics technology, with a focus on rejuvenating economies outside Seoul. President Lee Jae-myung announced the plans alongside leaders of Samsung and SK Hynix.
Technology How SK Hynix's 14-year bet on AI chips made it South Korea's most valuable company
SK Hynix overtook Samsung Electronics to briefly become South Korea's most valuable listed company, driven by an early bet on high-bandwidth memory (HBM) chips essential for AI servers. The turnaround began with SK Group's 2012 acquisition and culminated in record profits after ChatGPT triggered an AI investment boom.
Logistics HMM commits $1.1bn to 10 bulk and gas carriers in fleet diversification push
HMM has placed a KRW1.7trn ($1.1bn) order for eight bulk carriers and two gas carriers, continuing its expansion beyond container shipping. The investment aligns with a 2030 plan to grow its dry bulk fleet from 36 to 110 vessels and diversify into tanker and gas markets.
Logistics Metrostar Books MR Tanker Duo in South Korea for 2028 Delivery
Greek shipowner Metrostar Management has ordered two 50,000 dwt MR product tankers at HD Hyundai Mipo in South Korea for delivery in 2028. The vessels, priced at about $53 million each, are part of a broader fleet rebuild around product tonnage. The order comes amid strong Greek contracting activity in the tanker sector.
Business South Korea's Kospi Plunges 10% from Record High as Chip Stocks Tumble, Triggering Trading Halt
South Korea's benchmark Kospi plunged 10% on Tuesday, erasing record highs set a day earlier, as a sell-off in chip stocks triggered a trading halt. Heavyweight Samsung Electronics and SK Hynix each fell over 12%, while foreign investors offloaded more than $2.6 billion in shares. Despite the sharp decline, the Kospi remains up 94.67% year-to-date.
Logistics Pan Ocean Locks In $1.62B VLCC Newbuild Deal with SK Energy for 20-Year Crude Transport
Pan Ocean has secured a $1.62 billion, 20-year crude transport contract with SK Energy and SK Incheon Petrochem for four very large crude carrier (VLCC) newbuildings. The deal, running from 2029 to 2049, covers crude oil trades from the Middle East to South Korea, providing long-term employment for the tankers built at Hanwha Ocean. It marks Pan Ocean's continued expansion in the crude tanker segment, following its earlier $700 million acquisition of 10 VLCCs from SK Shipping.
Technology AI chip boom yet to lift South Korea's wider economy, Nomura economist sees limited spillover
South Korea's AI-driven semiconductor boom has yet to meaningfully lift the broader economy, according to Nomura senior economist Park Jeong-woo. Semiconductor export strength is largely price-driven with unexceptional volume growth, and consumption remains mixed with luxury spending up but auto sales down. Nomura expects the Bank of Korea to raise rates in July to 3.25% due to financial stability concerns, despite inflation being supply-driven.
Logistics HD Hyundai and Malcon Partner to Develop Korean Offshore Wind Support Vessels
HD Hyundai Heavy Industries has signed a cooperation agreement with Malcon to jointly develop a Korea-type offshore wind support vessel (SOV) optimized for domestic wind farms. The partnership will leverage eco-friendly propulsion technologies and aims to localize vessel production and strengthen South Korea's position in the offshore wind market.
Technology Coupang Fined $400M by South Korea for Massive Data Breach Affecting 37.5 Million Users
South Korea's data protection regulator fined Coupang $400M (624.68bn won) for a data breach affecting 37.5 million users, the largest such fine ever. The leak exposed names, contact, delivery details, and order histories. Coupang expressed regret and plans to challenge the decision; its CEO resigned.
Logistics International Seaways Orders LNG-Ready Tankers in South Korea
International Seaways has contracted two LNG-ready LR1 product tankers at K Shipbuilding in South Korea, with options for two more. This move aligns with their fleet optimization strategy, following recent vessel sales and platform expansions.
Business South Korea Surpasses India in Global Stock Market Rankings
South Korea has overtaken India to become the world's sixth-largest stock market, driven by a surge in semiconductor stocks like Samsung Electronics and SK Hynix. This shift highlights the impact of the AI boom on global equity markets.
Trade India, South Korea to Tackle Trade Deficit in CEPA Talks
India and South Korea have agreed to address their widening trade deficit during the 12th round of CEPA upgrade talks. The trade deficit reached USD 15.35 billion in 2025-26. Both nations aim to double bilateral trade to USD 54 billion by 2030.