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Park Jae-hyuk

Korea Times Business Reporter

Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.

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Companies

POSCO Future M to produce anode materials using methane gas

POSCO Future M said Thursday it signed a memorandum of understanding with Molten on March 11 to produce anode materials using natural graphite made from methane gas. The partnership between the Korean battery materials firm and the U.S. graphite producer aims to reduce reliance on graphite extracted from mines. Under the agreement, Molten will produce graphite through pyrolysis of methane gas — a chemical process that decomposes organic materials with heat. POSCO Future M will then process Molten’s graphite into spherical form at its subsidiary, Future Graph, and send the spheres to its Sejong plant to produce anode materials. The company explained that graphite produced with methane gas contains fewer metallic impurities than mined graphite, allowing for a shorter refining process and significantly lower production costs for anode materials. The Korean firm will also be able to supply POSCO with hydrogen generated from pyrolysis, enabling the steelmaker to advance its hydrogen reduction ironmaking (HyREX) process. HyREX is a method of using hydrogen to convert fine iron ore into dir

Mar 19, 2026By Park Jae-hyuk
POSCO Future M to produce anode materials using methane gas
Tech & Science

AMD boosts ties with Samsung, Naver during CEO's 1st Korea visit

Advanced Micro Devices (AMD) CEO Lisa Su paid her first visit to Korea since her appointment in 2014, signaling the company’s intent to ramp up efforts to strengthen partnerships with Korean tech firms amid fierce competition with Nvidia in the global artificial intelligence (AI) chip market. Samsung Electronics said Wednesday that Executive Chairman Lee Jae-yong invited Su to the company's guest house in Seoul for a banquet. Before their meeting, Su visited Samsung's semiconductor plant in Pyeongtaek, Gyeonggi Province, and signed a memorandum of understanding to expand strategic collaboration on next-generation AI memory and computing technologies. Under the agreement, AMD chose Samsung as the primary supplier of HBM4 high-bandwidth memory chips for its next-generation Instinct MI455X graphics processing units (GPUs), as well as advanced dynamic random access memory solutions for sixth-generation EPYC central processing units (CPUs), codenamed “Venice.” The two companies also agreed to discuss opportunities for a foundry partnership through which Samsung would provide foundry ser

Mar 18, 2026By Park Jae-hyuk
AMD boosts ties with Samsung, Naver during CEO's 1st Korea visit
Companies

Privatization calls grow as KAI names new CEO

Korea Aerospace Industries (KAI), the military aircraft manufacturer controlled by the state-run Export-Import Bank of Korea (Eximbank), appointed Kim Jong-chool as CEO on Wednesday. His appointment put an end to KAI's eight-month leadership vacuum following the resignation of former CEO Kang Goo-young, known as a close ally of former President Yoon Suk Yeol. KAI’s shareholders and board members agreed that day to give the CEO post to Kim, a former Republic of Korea Air Force officer who worked for the Defense Acquisition Program Administration. Defense industry officials expect the government to resume efforts to privatize KAI under its new chief, as Hanwha and LIG have recently been mentioned as potential buyers of the controlling stake held by Eximbank. Although KAI is not directly owned by the government, it is effectively under state control because Eximbank holds the largest stake at 26.4 percent. The National Pension Service is the second-largest shareholder with an 8.5 percent stake. This structure has allowed the government to continue influencing KAI’s leadership appointment

Mar 18, 2026By Park Jae-hyuk
Privatization calls grow as KAI names new CEO
Companies

Petrochemical firms desperate for Russian naphtha imports

Calls are growing for the government to permit imports of naphtha from Russia, as prolonged disruptions in the Strait of Hormuz have put Korea’s petrochemical companies at risk of operational disruptions. Although the government has pledged to diversify sources of the key petrochemical feedstock and restrict exports, industry officials argue the measures are insufficient for the current crisis. Briefing President Lee Jae Myung on countermeasures to deal with issues resulting from escalating tensions in the Middle East, Deputy Prime Minister and Finance Minister Koo Yun-cheol said Tuesday that naphtha will be designated as an item for economic security by the end of this week. “There has been a shortage of naphtha and other products that rely heavily on shipments through the Strait of Hormuz,” Koo said during a Cabinet meeting. “By restricting exports, the government will address the shortage.” Products designated as items for economic security are eligible for customized government support, including diversification of import markets, stockpile expansion and development of subs

Mar 18, 2026By Park Jae-hyuk
Petrochemical firms desperate for Russian naphtha imports
Companies

Shinsegae teams up with US tech firm to build Korea's largest AI data center

Shinsegae Group signed a memorandum of understanding with Reflection AI in San Francisco, Monday (local time), to build what will become Korea's largest artificial intelligence (AI) data center, with an annual capacity of 250 megawatts of electricity. Both companies agreed to establish a joint venture by the end of this year to carry out the project. The partnership between the Korean retail giant and the U.S. tech firm marks the first partnership under the American AI Exports Program, which was announced last year by the Donald Trump administration. After Trump signed an executive order last July, the U.S. Department of Commerce has led the program aimed at promoting the export of full-stack American AI technology packages. After attending the opening of the National AI Data Center, U.S. Secretary of Commerce Howard Lutnick also joined the signing ceremony at the same venue, underscoring Washington’s support for the Korean data center project. Shinsegae said its partnership with Reflection AI will help the retailer become one of Korea's most advanced AI cloud operators, boosting the co

Mar 17, 2026By Park Jae-hyuk
Shinsegae teams up with US tech firm to build Korea's largest AI data center
Companies

Korea’s Arctic shipping ambitions face renewed skepticism

Controversy over Korea’s plan to use Arctic shipping routes is resurfacing, as HMM employees question its feasibility while protesting the government’s attempt to relocate the shipping company’s headquarters from Seoul to Busan. Ahead of the June 3 local elections and the appointment of a new oceans and fisheries minister, the government is expected to face growing challenges to the plan, a key reason President Lee Jae Myung has pushed to move the ministry and major shipping firms to the southeastern port city. Although the government has stressed the need to take preemptive steps to secure a competitive edge in developing shorter alternatives to the Suez Canal for Asia-Europe trade, opponents have pointed to the global reluctance to use Arctic routes. “As shipping industry insiders, we are well aware that the diplomatic and economic feasibilities of Arctic shipping routes have not yet been verified,” an HMM union member said during a rally in front of the company’s headquarters on March 11. The HMM union cited major global shipping companies that have pledged not to use Arct

Mar 17, 2026By Park Jae-hyuk
Korea’s Arctic shipping ambitions face renewed skepticism
Companies

SK continues tightening belt in battery business

SK Group has ramped up efforts to cut costs at its money-losing battery affiliates as they continue to underperform amid a slowdown in global demand for electric vehicles (EVs). According to industry officials Monday, SKC has notified employees of plans to launch a voluntary redundancy program for workers who joined the company before 2025, offering compensation equal to 50 percent of their annual salary. The decision is seen as part of broader efforts to cope with the battery market downturn. SKC is the parent company of SK Nexilis, a copper foil producer for rechargeable batteries. Last year, SK Nexilis posted an operating loss of 174.6 billion won ($117 million), following a 150.5 billion won loss the previous year. SK IE Technology (SKIET) has also launched a voluntary redundancy program for employees with more than three years of service, offering compensation equivalent to one year’s salary. Spun off from SK Innovation in 2019, SKIET produces separators for lithium-ion batteries. The battery materials maker has also allowed staff with more than two years of service to take unpaid

Mar 16, 2026By Park Jae-hyuk
SK continues tightening belt in battery business
Companies

Samsung SDI lands $1 bil. ESS battery deal in US

Samsung SDI said Monday it has secured another large-scale contract to supply energy storage system (ESS) batteries in the United States, accelerating its expansion in the fast-growing global ESS market. The Korean battery maker said its Michigan-based subsidiary, Samsung SDI America, recently signed a 1.5 trillion won ($1 billion) deal to supply ESS batteries in phases to a U.S. energy company over four years through 2029. The company did not disclose the name of the customer under the agreement. The batteries will be produced at StarPlus Energy’s plant in Indiana, a joint venture between Samsung SDI and automaker Stellantis. Initial shipments will consist of nickel-cobalt-aluminum batteries, with supplies later expanding to lithium iron phosphate (LFP) batteries. The latest contract highlights Samsung SDI’s technological competitiveness in both NCA and LFP battery technologies in the global market, the company said. Samsung SDI has been strengthening its presence in the U.S., where demand for ESS is rapidly increasing alongside the expansion of renewable energy and artificial intell

Mar 16, 2026By Park Jae-hyuk
Samsung SDI lands $1 bil. ESS battery deal in US
Companies

BTS concert to test AI-based network management by mobile carriers

Korea’s three major telecommunications firms will deploy their most advanced technologies during the March 21 BTS comeback concert at Gwanghwamun Square in central Seoul, aiming to prevent network disruptions when large crowds gather in confined areas. SK Telecom said Sunday that it will premier its proprietary A-One network management system powered by artificial intelligence (AI) at the event. The system can recommend optimal locations for equipment placement, predict network traffic and monitor real-time data flows. The company plans to operate three separate network systems across multiple zones throughout the venue so users inside the square can quickly upload photos and videos, while those outside can stream the concert live without any lag or freezing. For roaming users, the company will install additional equipment in areas expected to attract foreign visitors. “This K-pop concert will be an opportunity for us to showcase Korea’s world-class AI-based network management technology,” an SKT official said. KT will apply its AI-based autonomous traffic control system, W-SDN,

Mar 15, 2026By Park Jae-hyuk
BTS concert to test AI-based network management by mobile carriers
Companies

Sale of HD Hyundai's Gunsan dockyard gives boost to MASGA

HD Hyundai Heavy Industries (HHI) signed an agreement Friday to sell its dockyard in Gunsan, North Jeolla Province, to the largest shareholder of HJ Shipbuilding & Construction (HJSC), raising expectations that both shipbuilders will step up efforts to expand their U.S. presence. The same day, Samsung Heavy Industries announced the opening of its first U.S. research center, which the company described as the beginning of the full-scale launch of the Make American Shipbuilding Great Again (MASGA) project. Industry officials expect domestic shipbuilders to accelerate investment in the government-led project to revitalize U.S. shipyards through Korean capital — which played a crucial role in the 2025 Korea-U.S. tariff agreement — as the National Assembly passed a special law Thursday legitimizing Korea’s $350 billion investment in U.S. shipbuilding and other industries. According to HD HHI's regulatory filing, EcoPrime Marine Pacific will acquire real estate and movable assets at the Gunsan dockyard after conducting due diligence to assess their value. HD Hyundai, the parent company o

Mar 15, 2026By Park Jae-hyuk
Sale of HD Hyundai's Gunsan dockyard gives boost to MASGA
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