Will US Vessels and Warships Be Built in Korea? Remaining Challenges Ahead

With the formalization of cooperation between South Korea and the United States in the shipbuilding sector, the domestic shipbuilding industry now faces practical challenges regarding how to design actual business models. The United States, under the Jones Act, permits only US-built vessels for domestic cargo transport, and separate security and facility requirements apply to the construction of naval ships or nuclear-powered submarines. There have also been concerns about insufficient domestic docks, leading to analyses that institutional improvements and facility investments must be pursued in parallel for South Korea to build US vessels or warships domestically. The Joint Fact Sheet (JFS) announced on November 14 explicitly states for the first time that US vessels and warships can be built at Korean shipyards. The two countries will collaborate in areas such as modernization of US shipyards, maintenance, repair and overhaul (MRO), workforce development, and strengthening supply cha

Enterprise·CEO

11.14 17:05

Choi Taewon to Oversee U.S. Operations Directly... Concurrently Serving as Chair of AI and Semiconductor Subsidiaries in America

Choi Tae-won, Chairman of SK Group, will concurrently serve as the chairperson and board chair of SK Group’s U.S. subsidiaries, reflecting the growing strategic importance of these entities amid rapidly changing global economic conditions. According to SK Inc.’s quarterly report disclosed on November 14 through the Financial Supervisory Service’s electronic disclosure system, Chairman Choi has taken on the roles of Chairperson of the Board of Directors at SK Americas Inc. and Chairman of SK Hynix America Inc., a U.S. subsidiary of SK Hynix, since September. SK Americas Inc. is SK Group’s U.S. entity overseeing its North American operations. It is responsible for managing relations and cooperation with the U.S. government on major group businesses such as artificial intelligence, semiconductors, and batteries, as well as supporting member companies’ business activities and investments within the United States. SK Hynix America Inc. serves as SK Group’s largest base in the western region

Enterprise·CEO

11.14 16:22

Trump Demands Taiwan Make Investments at Least on Par with South Korea

The United States has reportedly demanded that Taiwan make large-scale investments at least comparable to those made by South Korea in their trade negotiations. On November 14, Taiwanese media outlets such as United Daily News and China Times, citing the U.S. outlet Politico, reported on Taiwan's situation following the conclusion of the fifth round of tariff negotiations with the United States. According to sources, during the negotiations, the United States requested that Taiwan commit to investments on a scale similar to those promised by South Korea and Japan. South Korea and Japan had previously pledged to invest 350 billion dollars (approximately 511.5 trillion won) and 550 billion dollars (approximately 803.9 trillion won), respectively, in the United States. The sources predicted that the amount of Taiwan's investment in the United States would be determined somewhere between the amounts pledged by South Korea and Japan. This news has sparked concerns in Taiwan. In particular,

Enterprise·CEO

11.14 15:16

HS Hyosung Vice Chairman Ho Hyunsang Discusses Business Cooperation Strategies with Mercedes-Benz Chairman

On November 13, Ho Hyun-sang, Vice Chairman of HS Hyosung, met with Ola Kallenius, Chairman of the Board and CEO of Mercedes-Benz Group, who visited the Maybach Brand Center Seoul in Gangnam-gu, Seoul, to discuss future business cooperation strategies. The meeting was attended by key executives from both companies, including Vice Chairman Ho, Noh Kisoo, Head of HS Hyosung R&D Center, Ahn Sunghoon, CEO of HS Hyosung, Noh Jaebong, CEO of HS Hyosung The Class, Jens Kunath, Head of Sales Passenger Cars at Mercedes-Benz Group AG, and Mathias Vaitl, CEO of Mercedes-Benz Korea. Vice Chairman Ho engaged in in-depth discussions on strengthening collaboration across the automotive materials value chain, including battery materials, carbon fiber, automotive interior materials, airbags, and tire cords, where HS Hyosung has global competitiveness. HS Hyosung has built long-standing strategic partnerships with global automakers, enhancing its capabilities as a supplier of core automotive materials.

Enterprise·CEO

11.14 14:33

Chairman Lee Jae-yong to Attend Eldest Son's Naval Officer Commissioning Ceremony

Samsung Electronics Chairman Lee Jae-yong is scheduled to attend the commissioning ceremony for his eldest son, Lee Jiho, as a naval officer. On November 14, Yonhap News Agency reported that Chairman Lee is expected to attend the graduation and commissioning ceremony for the 139th class of naval officer candidates, which will be held under the supervision of the Chief of Naval Operations on November 28 at the Naval Academy in Jinhae, Changwon, Gyeongnam Province. Chairman Lee did not attend Lee Jiho's entrance ceremony for officer candidates, which was held on September 15.At that time, it was reported that his mother, Lim Seryung, Vice Chairwoman of Daesang Holdings, and his younger sister, Lee Wonjoo, accompanied him to the entrance ceremony. Family members attending this commissioning ceremony typically register with the Naval Academy two weeks in advance, and Chairman Lee is also said to be on the list of attendees. Lee Jiho enlisted as a candidate for the 139th class of naval offi

Enterprise·CEO

11.14 14:13

Industry Welcomes Finalization of Korea-U.S. Fact Sheet... Eased Auto Tariffs and Full-Fledged Shipbuilding Cooperation (Comprehensive)

As South Korea and the United States announced a "Joint Fact Sheet" outlining trade adjustments?including finalized automobile tariffs?and industrial cooperation in the shipbuilding and defense sectors, expectations are rising across domestic industries. The automobile and parts sectors expressed relief as the burden of high tariffs has eased, while the shipbuilding industry anticipates new business opportunities as the path is now open to build U.S. commercial and naval vessels at Korean shipyards. On November 14, the two countries finalized and announced the "Joint Fact Sheet," which details the tariff and security negotiations concluded during last month's Asia-Pacific Economic Cooperation (APEC) summit. Regarding the automobile and parts industry, the document clearly states, "The United States will reduce Section 232 tariffs on Korean automobiles, parts, logs, lumber, and wood products to 15%." The timing for tariff implementation has also become clear. The two countries agreed to

Enterprise·CEO

11.14 14:06

LS Marine Solution Achieves Record-High Third-Quarter Revenue of 77 Billion Won

LS Marine Solution achieved its highest-ever third-quarter revenue. On November 14, LS Marine Solution announced that its consolidated revenue for the third quarter reached 77 billion won, with an operating profit of 2.1 billion won. This represents a 106% increase compared to the same period last year (37.4 billion won), more than doubling and setting a new record for third-quarter performance. Cumulative revenue has reached 188.4 billion won, which is 145% of last year's annual revenue, making it highly likely that the company will surpass 200 billion won within this year. LS Marine Solution attributed this performance to several factors: the full-scale construction of the Taiwan Power Company Offshore Wind Farm Phase 2, the inclusion of project results from its subsidiary LS Buildwin's Singapore project, and synergy effects with LS Cable & System. Large-scale projects such as the installation of subsea cables for Taiwan's offshore wind farms and the deployment of underwater acoustic

Enterprise·CEO

11.14 13:48

SK Eteonics Signs MOU with Top Sun for Joint Development of Renewable Energy and BESS Projects

SK Eteonics announced on November 12 that it had signed a "Memorandum of Understanding (MOU) for Joint Development of Renewable Energy Power Generation and Battery Energy Storage System (BESS) Projects" with Top Sun, a solar integrated solutions company led by CEO Yoon Jungtaek. BESS refers to infrastructure projects that involve the installation and operation of Battery Energy Storage Systems (BESS) to enhance the stability of power grids using renewable energy sources such as solar and wind power. SK Eteonics and Top Sun stated that they entered into this business agreement to jointly pursue renewable energy development projects by combining their respective capabilities in development, construction, and operation, and to actively participate in bids for the Central ESS Contract Market. The Central ESS Contract Market is a system introduced by the government in 2023 to ensure grid stability and efficient power supply management, and is operated by Korea Power Exchange. In the first h

Enterprise·CEO

11.14 13:35

LG Display to Supply Displays for Mercedes-Benz EVs in Automotive Alliance

Will US Vessels and Warships Be Built in Korea? Remaining Challenges Ahead

Choi Taewon to Oversee U.S. Operations Directly... Concurrently Serving as Chair of AI and Semiconductor Subsidiaries in America

Trump Demands Taiwan Make Investments at Least on Par with South Korea

HS Hyosung Vice Chairman Ho Hyunsang Discusses Business Cooperation Strategies with Mercedes-Benz Chairman

Chairman Lee Jae-yong to Attend Eldest Son's Naval Officer Commissioning Ceremony

Industry Welcomes Finalization of Korea-U.S. Fact Sheet... Eased Auto Tariffs and Full-Fledged Shipbuilding Cooperation (Comprehensive)

LS Marine Solution Achieves Record-High Third-Quarter Revenue of 77 Billion Won

SK Eteonics Signs MOU with Top Sun for Joint Development of Renewable Energy and BESS Projects

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