POSCO Future M will begin mass producing hard carbon anode material, a core material for sodium-ion batteries, in 2028. It is the second company in South Korea, after Aekyung Chemical, to disclose plans for both the development and mass production of hard carbon anode material.

According to industry sources on July 24, POSCO Future M recently drew up its development plans for battery cathode and anode materials as well as its next-generation materials strategy. The development status and mass production plans for hard carbon anode material for sodium-ion batteries were included for the first time.

POSCO Future M plans to complete development of the hard carbon anode material by the third quarter of 2027 and begin mass production in 2028. It expects that rather than fully replacing lithium iron phosphate (LFP) batteries, sodium-ion batteries will broaden their range of use mainly in fields requiring low-temperature environments and long life. South Korean battery makers including LG Energy Solution and Samsung SDI are also developing sodium-ion batteries aimed at low-temperature, long-duration energy storage systems (ESS).

Sodium-ion batteries are next-generation batteries that use sodium (Na) instead of lithium (Li). Sodium is abundant on Earth, making raw material procurement easier than for lithium, with relatively smaller price fluctuations. The basic structure, consisting of a cathode, anode, electrolyte and separator, is the same as that of lithium-ion batteries, but the component materials differ. Cathode materials use sodium iron phosphate (NFPP) or nickel-iron-manganese (NFM), while hard carbon is mainly applied in place of graphite for the anode material. The electrolyte also uses sodium salts dissolved in an organic solvent.

The reason the anode material changes is the size of the sodium atom. Sodium atoms are about 2.5 times larger than lithium atoms and more than three times heavier. Ordinary graphite has narrow spacing between layers, making it difficult for the larger sodium ions to move in and out freely.

Hard carbon, by contrast, has a wide interlayer structure and fine pores inside that can stably store sodium ions. Its structural deformation is also relatively small even after repeated charging and discharging. Hard carbon costs more than three times as much as graphite, but a substantial portion of that cost burden can be offset because aluminum foil, priced at about one-third the cost of conventional copper foil, can be used as the current collector.

POSCO Future M plans to mass produce hard carbon using its existing anode material production lines. Existing equipment such as heat-treatment furnaces, reactors and slurry processes can be partially adapted, reducing the burden of new investment.

Market research firms forecast that global sodium-ion battery shipments will exceed 70 gigawatt-hours (GWh) in 2028. Producing 1 GWh of batteries requires about 1,500 tons of hard carbon anode material. On that basis, demand for hard carbon anode material in 2028 is estimated to exceed 100,000 tons. China has already taken the lead in the supply chain.

The companies currently mass producing hard carbon anode material are Chinese firms including BTR, Shanshan and Zhongke Electric. These companies are also among the global leaders in the graphite anode material market. China's hard carbon production capacity is estimated at 80,000 to 90,000 tons a year. In South Korea, Aekyung Chemical was the first to disclose plans for hard carbon mass production. It is building a pilot line with annual capacity of 1,300 tons, targeting completion within this year.

Besides hard carbon, POSCO Future M also unveiled a development roadmap for other next-generation battery materials, including LFP cathode material, lithium manganese-rich (LMR) cathode material and silicon anode material. It will convert part of its cathode production lines in Pohang for LFP use, produce prototypes this year and start mass production in the second half. In 2029, it will build an LFP cathode production system applying raw materials from within the group and its own processes. For anode materials, it will also expand its product lineup to include natural and artificial graphite and silicon anode materials to respond to changes in the electric vehicle and ESS markets.

Apple is strongly demanding lower display panel prices as rising memory semiconductor prices push up the cost of building iPhones.

According to industry sources on July 24, Apple has proposed a price of about $70 for organic light-emitting diode (OLED) panels for the iPhone 18 Pro Max, which it will unveil this year. The industry estimates that Samsung Display and LG Display are supplying the panels at an average of $66.5, even lower than that figure. That is about 20% below the previous model.

iPhone OLED prices have fallen with each new product in the past as well. Depending on supply timing and conditions, iPhone 16 Pro Max panels at times exceeded $100, but fell to the $80 range for the iPhone 17 Pro Max. Panels for the iPhone 18 Pro Max are about 20% lower than that. On top of the usual generational price decline, the size of the reduction has grown this time, according to industry officials.

Notably, the OLED panels for the iPhone 18 will use M16, the latest organic material set, which improves luminous efficiency, lifespan and color characteristics. Panel makers must adjust process conditions and stabilize yields to suit the new material. Product specifications and production difficulty have risen, yet prices have instead fallen.

Rising memory semiconductor prices have worked as a negative factor, as smartphone makers seek to absorb the cost increase by cutting procurement costs for other components such as displays and camera modules.

Samsung Display President Lee Cheong said on July 22 at K-Display 2026 that "this year is extremely difficult because of chipflation," adding that "very strong pressure is coming in to lower component and display prices." LG Display President Jeong Cheol-dong also said of the pressure to cut prices that the company is "being affected to some degree," but that it is "at a manageable level because we are pursuing cost innovation."

According to market research firm UBI Research, Samsung Display is expected to supply 46 million OLED panels for the bar-type iPhone 18 this year, comprising 2 million for the standard model, 18 million for the Pro and 26 million for the Pro Max. LG Display's expected volume is 41.09 million panels, made up of 1.09 million for the standard model, 19 million for the Pro and 21 million for the Pro Max.

"Apple is demanding steep price cuts from panel suppliers on the grounds of rising memory prices," an industry official said. "Supply prices are falling even for high-specification products using the latest organic materials, so panel makers' second-half earnings will vary depending on supply volumes, yields and the extent of cost reductions."

Intel posted results that beat market expectations on surging demand from artificial intelligence (AI) data centers. With its third-quarter outlook also exceeding expectations, the company's shares jumped about 9% in after-hours trading.

Intel said in second-quarter results released on July 23 local time that revenue rose 25% from a year earlier to $16.1 billion, well above the market forecast of $14.4 billion. Adjusted earnings per share came to $0.42, double the market forecast of $0.21.

Demand for server central processing units (CPUs) led Intel's second-quarter performance. Revenue from its data center and AI business was about $6.26 billion, above the market estimate of $5.37 billion. Intel said earlier this year that CPU orders had exceeded its production capacity.

Revenue from the notebook and desktop PC business was about $8.88 billion, against a market estimate of $7.89 billion. Intel said the share of low-cost PC chips was reduced while the share of high-specification chips expanded, and that although unit sales declined, the average selling price (ASP) rose.

The foundry business, long a sore point for the company, posted revenue of $5.77 billion, above the market estimate of $5.55 billion. It is still in the red, however, with a loss of about $2.089 billion.

Internal transactions in the second quarter came to about $5.5 billion. Internal transactions refer to dealings between business units within the company. They are counted as revenue for each business unit but are deducted when calculating consolidated revenue to prevent double counting.

The third-quarter outlook also exceeded market expectations. Intel guided for third-quarter revenue of $15.8 billion to $16.8 billion and adjusted earnings per share of 38 cents. The average revenue estimate among analysts compiled by LSEG was $15.1 billion, with adjusted earnings per share of 27 cents.

Intel has also secured long-term supply contracts that promise recurring revenue. Chief Financial Officer David Zinsner told Reuters that the company has signed three- to five-year contracts with customers covering server CPUs and XPUs. Some contracts include both volume and pricing, and can be renegotiated depending on market conditions.

Intel is also raising capital expenditures to match growing demand. "We have raised this year's capital spending outlook to $20 billion from $18 billion," Zinsner said. "We expect next year's investment to increase meaningfully as well."

"AI is driving an unprecedented level of demand for computing," Intel Chief Executive Officer Lip-Bu Tan said. "We can drive sustained growth in areas such as CPUs, application-specific integrated circuits (ASICs), advanced packaging and foundry." He added, "The second-quarter results mark the highest revenue growth rate in the past 15 years," saying that "fast execution, accountable management and a customer-focused strategy made it possible."

SK Group Chairman Chey Tae-won must pay 944 billion won in property division to Roh Soh-yeong, director of Art Center Nabi, a South Korean court ruled in a remanded divorce case. The ruling included Chey's holdings in SK Inc. as part of the assets subject to division. The amount was about 400 billion won less than the 1.3808 trillion won awarded by the appellate court, but far higher than the 66.5 billion won ordered by the first-instance court.

The Seoul High Court's Family Division 1, presided over by Judge Lee Sang-joo, ruled on July 24 that Chey must pay Roh 944 billion won in property division, along with annual default interest of 5% from the date the judgment becomes final until payment is completed. The court ordered each party to bear its own litigation costs.

The court recognized Chey's holdings in SK Inc. as assets subject to division, concluding that a substantial portion of the couple's joint assets had been formed or acquired during their marriage. It set April 16, 2024, the date when oral arguments concluded in the divorce proceedings, as the valuation date for the assets. SK Inc. shares were trading at around 160,000 won at that time.

The court did, however, take into account the subsequent sharp increase in the value of Chey's SK Inc. shares when determining the amount of the property division. SK Inc. shares that Chey had gifted to relatives to maintain control of the group were excluded from the assets subject to division.

The court recognized Roh's contribution to the formation of the assets at 33.3%, or one-third. It found that Roh contributed to Chey's business activities and to the appreciation of SK Inc. shares by handling household affairs and child-rearing and through her external activities during the marriage. The contribution ratio was slightly lower than the 35% recognized by the appellate court.

The court did not take into account the 30 billion won in slush funds linked to former President Roh Tae-woo in calculating the property division ratio.

For the method of division, the court chose compensatory division, under which Chey will continue to hold the shares and pay Roh the shortfall in her portion in cash. The decision took into account the defense of management control and the stability of the group's governance structure.

The divorce proceedings began in 2015, when Chey publicly disclosed his intention to divorce and the existence of a child born outside the marriage. The legal dispute escalated when he filed for divorce mediation in July 2017.

In December 2022, the first-instance court ruled that Chey's SK Inc. shares were his separate property and excluded them from the assets subject to division, awarding Roh 66.5 billion won in property division and 100 million won in alimony. In May 2024, the appellate court determined that the shares were the couple's joint assets, recognized Roh's contribution at 35%, and ordered Chey to pay 1.3808 trillion won in property division and 2 billion won in alimony.

In October 2025, the Supreme Court found that the 30 billion won from the side of former President Roh Tae-woo appeared to be illicit funds raised during his presidency, and that it could not be taken into account as Roh Soh-yeong's contribution to the formation of the assets even if the money had flowed into SK Group. The court overturned the property division portion and sent the case back to the Seoul High Court. The divorce itself and the 2 billion won alimony payment were confirmed.

The business community is watching the impact the ruling will have on SK Group's governance structure. With Chey required to raise close to 1 trillion won for the property division payment, attention is turning to how he will secure the funds. Some observers have raised the possibility that he could use his SK Inc. stake as collateral or sell some assets, with SK Siltron cited as a prime example.

Immediately after the ruling, Chey's legal counsel issued a statement saying, "The divorce was confirmed by last year's Supreme Court ruling in a process of dissolving a marriage spanning nearly 20 years, and today's remanded ruling on property division followed. We feel apologetic for causing concern to many people." The statement added, "We respect the court's judgment, but we will closely review the details of the ruling before deciding our future response, including whether to appeal to the Supreme Court."

Semiconductor test equipment maker DI is expected to post record quarterly results in the second quarter.

Hana Securities estimated on July 24 that DI will report second-quarter revenue of 160.6 billion won and operating profit of 33.1 billion won. That would represent increases of 34.7% and 169.8%, respectively, from a year earlier, marking the company's highest quarterly figures on record. Combined with first-quarter operating profit of about 18.9 billion won, first-half operating profit is projected to reach 52.0 billion won, surpassing the company's full-year operating profit for last year within six months.

Behind the strong performance are wafer testers for sixth-generation high-bandwidth memory (HBM4) made by DI's subsidiary Digital Frontier (DF). Earlier this year, DF won orders worth 196 billion won from SK hynix for the equipment.

Those deliveries were concentrated in the second quarter. As a result, DF's second-quarter revenue is expected to increase 76.8% from the previous quarter to 96.2 billion won. HBM4 testers also carry higher margins, with the subsidiary's operating margin estimated to have risen to 30% from 26% in the first quarter.

DI's standalone second-quarter revenue is also expected to exceed 60 billion won, supported by higher shipments of package testers. Package testers are used in the step following wafer testing. They inspect semiconductor packages — chips that have been diced from wafers, wrapped in protective material and assembled into finished form. DI has a product lineup capable of testing DRAM, NAND flash and non-memory semiconductors, with Samsung Electronics as its key customer.

The second-half outlook is also positive. Discussions are underway on additional HBM4 tester supply, which is expected to extend related revenue through the end of this year. Commodity DRAM prices have also risen sharply, accelerating customers' capital spending. DF is continuing to ship its own DRAM package testers, and supply of NAND wafer testers began in the third quarter.

Because memory manufacturers had concentrated their existing capital spending on HBM, investment in commodity products is expected to expand over an extended period.

Hana Securities forecast DI's consolidated third-quarter revenue at more than 180 billion won. It estimated full-year revenue of 573 billion won and operating profit of 101.3 billion won.

Customer investment is expected to continue next year. SK hynix will open the cleanroom at P&T7, a semiconductor back-end packaging and test plant in Cheongju. The plant will produce HBM using a 2.5D packaging process. In NAND, Samsung Electronics plans an expansion of its P5 fab at the Pyeongtaek Campus, while SK hynix has also planned an investment in its new M17 fab in Cheongju.

Eco&Dream has begun mass shipments to customers of nickel-cobalt-manganese (NCM) precursors produced at its Saemangeum Campus, marking the full-scale launch of operations at its new manufacturing base.

The company said on July 24 that it has shipped NCM precursors manufactured at the Saemangeum Campus in line with customer orders. It has stabilized production processes and quality control systems at the facility.

Precursors are the key raw material used to produce cathode materials, which determine battery performance. Cathode materials account for about 40% of a battery's cost, while precursors represent roughly 70% of cathode material costs. Eco&Dream is also pursuing commercialization of new precursor products, developing customized NCM precursors with differentiated compositions, particle sizes, densities and surface characteristics tailored to electric vehicle (EV) platforms, battery cell designs and application-specific performance requirements.

Building on its existing and new products, the company is targeting the global EV and all-solid-state battery materials markets. It plans to strengthen its "Precursor Foundry" strategy by broadening its EV precursor portfolio while further advancing precursor design technologies for all-solid-state batteries. Eco&Dream also intends to pursue joint development projects and product evaluations with customers and expand its portfolio into next-generation materials, including solid electrolytes.

The company said it is also in discussions on EV localization projects in Europe, supply projects with battery makers in North America and global EV application projects.

"We have expanded our precursor production base to the Saemangeum Campus and begun full-scale operations at the new manufacturing base," an Eco&Dream official said. "We will respond reliably to customers' quality and supply requirements while further raising the utilization rate of the Saemangeum Campus."

Hanwha Ocean has signed a joint design agreement with a US naval architecture firm to develop the Fast Sealift vessel, expanding its collaboration with the US shipbuilding industry beyond ship construction to design, workforce development and supply chain initiatives.

The company announced on July 24 that it signed one professional services agreement for the joint design of a global strategic sealift vessel and two memoranda of understanding (MOUs) covering shipbuilding workforce development and supply chain cooperation during the opening ceremony of the Korea-US Shipbuilding Cooperation Center in Washington, D.C. on July 23.

Hanwha Ocean signed the professional services agreement with Leidos Gibbs & Cox, a US naval architecture company, to jointly design the strategic sealift vessel. The agreement expands the partnership beyond the memorandum of understanding signed in April, which focused on strengthening shipbuilding capabilities for the US Navy and allied naval forces, into the joint design phase.

A Fast Sealift vessel is a dual-use platform that operates as a commercial cargo ship during peacetime and can rapidly transport military equipment and supplies during emergencies.

The companies plan to combine Hanwha Ocean's naval shipbuilding expertise with the design capabilities of Leidos Gibbs & Cox to pursue opportunities in both the US and global naval vessel markets. Gibbs & Cox has designed more than 70% of the US Navy's surface combatants built since World War II.

Hanwha Ocean also signed an MOU with Hanwha Philly Shipyard and Delaware County Community College to cooperate on shipbuilding education and workforce development. Under the agreement, the partners will develop instructor training programs for US shipbuilding workers and help expand the pool of skilled labor.

"We will expand cooperation in the areas the United States needs most by leveraging our local production base and play a central role in the MASGA project," said Jeong In-seob, president and head of Management Support at Hanwha Ocean.

TRUMPF Korea has expressed strong confidence in achieving double-digit revenue growth for its 2026–2027 fiscal year, which began in July. The company expects to benefit from growth in the semiconductor sector, rising demand for machine tool automation, and the resumption of investments across previously stagnant industrial sectors.

Founded in 1923, TRUMPF is a representative German "hidden champion"—a term referring to highly competitive industry leaders that are not widely known to the general public. TRUMPF is widely recognized as the exclusive supplier of the "drive laser"—a carbon dioxide (CO₂) laser source—used in ASML's extreme ultraviolet (EUV) lithography systems. The company operates four primary divisions: Machine Tools, Laser Technology, Power Electronics, and its EUV Lithography division.

"In the previous fiscal year, our Korean branch faced operational challenges due to rising exchange rates and downturns in the battery and display industries," said Geun-min Ryu, managing director of TRUMPF Korea. "However, this year, driven by advances in laser technology and machine tool automation, we expect to achieve double-digit growth and surpass 200 billion won in revenue."

One product line expected to fuel this growth is the Power Electronics division's radio frequency (RF) generator module, which is installed in semiconductor etching and deposition equipment. Driven by the rapid surge in High Bandwidth Memory (HBM) demand, the market for related processing equipment is expanding, which in turn is boosting module sales.

The transition toward laser technology in semiconductor wafer dicing is another major growth opportunity. Wafer dicing involves cutting device wafers after front-end fabrication for back-end packaging. TRUMPF's global R&D team is currently co-developing a "pure laser dicing" process with LeadroTech, which cuts wafers using lasers alone. TRUMPF is also actively communicating and conducting technology validation with domestic memory semiconductor manufacturers.

Compared to traditional mechanical cutting, pure laser dicing lowers the risk of micro-cracks or defects on semiconductor chips. By preventing physical damage to high-cost chips, it helps customers reduce yield loss. Currently, manufacturers rely primarily on mechanical blades, using lasers only in a supplementary role.

However, achieving high yields with laser dicing requires precise power control, ultra-short pulse-width optimization, and thermal management technology. "We expect customer equipment featuring this technology to undergo validation testing in South Korea around early next year," Ryu explained. TRUMPF does not manufacture complete semiconductor processing equipment directly. Instead, it supplies components like laser sources and RF generators to equipment manufacturers, who then deliver the fully assembled systems to semiconductor producers.

In TRUMPF's machine tool division—a stable source of revenue—demand for automation solutions is rising steadily. As manufacturing sectors face severe labor shortages, finding skilled equipment operators has become increasingly difficult. TRUMPF's machine tools are widely used in manufacturing for metal bending, cutting, and punching. "In the past, most customers purchased standalone machine tools. Today, not only large corporations but also small job shops are actively adopting automated systems that operate unmanned during nights or weekends," Ryu noted. This trend has driven steady sales growth for the machine tool division in South Korea.

TRUMPF also anticipates expanded investments across recovering downstream sectors such as batteries and displays. "In the battery sector, investments are shifting toward Energy Storage Systems (ESS)," Ryu said. "We also expect the domestic display industry's investments in new 6th-generation Organic Light-Emitting Diode (OLED) production lines to materialize soon." TRUMPF Korea supplies continuous-wave (CW) 'TruFiber' laser sources and optical sensors tailored for battery manufacturing, as well as the ultra-short pulse laser 'TruMicro' platform for glass processing.

Furthermore, the expansion of Hyundai Motor Group and its Tier-1 domestic suppliers into North American production hubs represents a positive driver. TRUMPF supplies 3D 5-axis laser processing machines to major automotive manufacturers and suppliers, holding a market share near 100%. With 71 subsidiaries and 11 production sites globally, TRUMPF provides rapid technical support and real-time predictive maintenance capabilities that detect equipment anomalies proactively.

Regarding glass substrate through-glass via (TGV) process investments, Ryu maintained a cautious stance. "TGV involves far more than simply drilling holes with a laser; it requires precise alignment across aspect-ratio control, copper plating, and sputtering processes," Ryu remarked. "While several domestic equipment makers are conducting pilot tests, it will take more time before mass-production equipment orders materialize."

Q&A

Q: Could you introduce TRUMPF and explain what kind of company it is?

A: TRUMPF was founded in 1923 and has a history of over 100 years. It is a family-owned business and a representative German "hidden champion." Because it is family-owned, there are no public shareholders, allowing the company to maintain a long-term operational vision without being bound by short-term profit margins. This structure enables us to invest heavily in long-term R&D. Globally, TRUMPF operates 71 subsidiaries and 11 production hubs, employing approximately 18,000 people. Our fiscal year runs from July to June, and global revenue reached approximately 7.5 trillion won in the previous fiscal year.

Q: Is the Laser Technology division your main core business?

A: Not exclusively. Globally, the Machine Tools division is TRUMPF's largest unit. It manufactures laser cutting machines, automatic and manual bending machines, punching machines, pipe processors, and combination machines that handle both punching and cutting. It also encompasses smart factory automation equipment that integrates directly with storage systems. In Germany, TRUMPF is widely known primarily as a machine tool company.

In the Laser division, we have transitioned from disc lasers to fiber lasers, and we provide ultra-short pulse lasers operating in picosecond (ps) and femtosecond (fs) ranges for ultra-precision processing. This division delivers core technologies to the semiconductor, display, automotive, and battery industries.

Thirdly, we have the Power Electronics division. With rising HBM demand, our RF generator modules serve as critical components in etching and deposition equipment.

Q: Are RF generator modules primarily supplied as modular components to equipment builders?

A: Yes, they are installed as modules within larger processing equipment. Lastly, we have the EUV Lithography division. We exclusively supply the CO₂ laser sources (drive lasers) used inside EUV lithography equipment. Based on those laser systems, equipment is supplied to key end-customers such as Samsung Electronics and SK Hynix.

Q: So the company consists of four main divisions?

A: Yes, there are four primary business divisions. Additionally, with the rise of AI, integrated services across all four divisions—covering machines, lasers, and generators—are becoming increasingly vital. Customers no longer focus solely on raw manufacturing capacity; they focus heavily on quality management, driving demand for integrated software solutions.

Q: So software solutions are bundled alongside those four divisions?

A: Yes. Customers in our Machine Tools division often purchase our software alongside equipment. Those using competitor equipment sometimes adopt compatible third-party software. The same applies to our Laser division. We supply not only laser sources, but also optical sensors like Optical Coherence Tomography (OCT) sensors and Programmable Focusing Optics (PFO) as bundled packages. While some customers buy full packages, System Integration (SI) equipment manufacturers may purchase only our laser sources and integrate their own software and sensors. We offer flexible options, ranging from standalone laser sources to comprehensive end-to-end solutions combining optics, sensors, software, and real-time process monitoring.

Q: Is revenue reported by division, or is service tracked as a fifth segment?

A: Service functions are embedded within each division, but because many service operations overlap, we manage and operate services across all divisions as a single unified structure.

Q: You mentioned recent global revenue was around 7.5 trillion won. What was it in prior fiscal years?

A: It typically ranged between 8.5 trillion and 9 trillion won. Between 2024 and 2025, overall macroeconomic downturns caused revenue to decline by about 15%. Beyond semiconductors, downturns in battery and industrial sectors across Germany, the US, and South Korea impacted performance.

Q: What is the revenue breakdown by division?

A: Machine Tools is the largest, accounting for over half of total revenue at around 4 trillion won. Laser Technology generates roughly 1 to 1.5 trillion won, while Power Electronics and the EUV Lithography division generate approximately 1 trillion won each.

Q: Machine Tools is indeed the largest unit.

A: Historically, Machine Tools has been our foundational business. Most customers know TRUMPF as a maker of sheet metal cutting, bending, and punching equipment. In South Korea, our customer base spans from very small job shops with a few employees to major industrial conglomerates.

Q: How long have you served as managing director of TRUMPF Korea?

A: I completed my studies in the United States and managed various R&D and business operations across the US and Europe before assuming the position of Managing Director for South Korea on July 1, 2025. I have just completed my first full fiscal year in this role.

Q: Is the revenue breakdown in South Korea similar to global proportions?

A: South Korea is unique in that the Laser division is significantly larger, accounting for more than half of our local revenue. It is essentially the reverse of our global breakdown. The remainder is divided among Machine Tools, Power Electronics, and the EUV Lithography division.

Q: After your first year in office, what key directives or goals has global headquarters emphasized?

A: Given my academic and professional background in laser R&D in the US, I have extensive experience in laser technologies. Having also worked for three years in our EUV lithography division in the Netherlands, I have hands-on experience across our business units. Headquarters tasked me with taking an active, customer-centric approach. Customers today look beyond raw productivity; they focus heavily on process efficiency, energy consumption, and automation due to severe field labor shortages. In line with headquarters' guidance, I spend most of my time visiting and communicating directly with clients nationwide.

Q: Is that customer-centric approach why TRUMPF Korea operates multiple regional service offices beyond its Seoul headquarters?

A: Yes. While our Dongtan and Pyeongtaek offices primarily support the EUV division, we also operate regional hubs in Cheonan, Daegu, Gwangju, and Busan. Because most of our customers are located along the Gyeongbu Highway axis, maintaining local hubs allows us to deliver technical support and service as quickly as possible.

Q: Have there been notable shifts in your revenue structure over the past year?

A: Our Machine Tools division faced challenges in the previous fiscal year but returned to growth this year. The Laser division maintained revenue levels similar to the previous fiscal year.

Q: Which specific areas are you focusing on personally?

A: While a managing director must oversee all business units, the Laser and Machine Tools divisions naturally take up a significant portion of my attention due to their size and scope. That is not to say Power Electronics or EUV are less important, but Laser Technology drives our largest revenue share, while Machine Tools encompasses the highest number of individual clients. Given my background in laser physics, I naturally have a strong affinity for the Laser division, and as our primary revenue driver, it requires close attention.

Q: Who are the main customers for the Laser division?

A: Unlike the Machine Tools client base, Laser division clients are primarily major corporations in high-tech industries such as semiconductors, displays, and automotive. While we sometimes deal with end-user conglomerates directly, our primary customers are equipment builders who integrate our lasers and optical sensors into their machinery, which is then delivered to manufacturing sites in South Korea, Vietnam, Hungary, the US, and beyond.

Q: Why do equipment manufacturers choose TRUMPF laser sources over competing alternatives?

A: The key factors are productivity and quality. We bring a long heritage of engineering expertise dating back to 1923. After transitioning from disc lasers to continuous-wave (CW) fiber lasers, our 'TruFiber' platform resolved performance drawbacks seen in competing products. For ultra-precision processing, our 'TruMicro' ultra-short pulse laser platform—specifically the 3000, 5000, and 6000 series—holds the leading market share in South Korea.

While TRUMPF lasers carry a premium price tag, they deliver high reliability, low defect rates, and optimal yield in mass production. Furthermore, our platform includes real-time process monitoring software, allowing defects to be identified instantly during processing—such as during battery welding—rather than after completion, preventing costly scrap. Our lasers contain numerous embedded sensors. Even if sensor readings trend upward while remaining within normal operational limits, our system detects the trend and proactively notifies the client to schedule preventive maintenance within three weeks before an actual fault occurs. This predictive maintenance model builds exceptionally high client trust.

Q: How are your lasers currently utilized across different applications?

A: Applications vary by industry. In semiconductors, our CO₂ lasers generate light sources for EUV lithography equipment. Standard CW lasers cut sheet metal and weld battery components. In display manufacturing, ultra-short pulse TruMicro lasers cut glass substrates with minimal thermal damage. In the automotive sector, global OEMs like BMW, Mercedes-Benz, and Hyundai Motor Group use our 3D 5-axis laser processing machines extensively for body frames and door processing.

Q: How are you addressing the trend toward Through-Glass Via (TGV) processing in semiconductor back-end packaging?

A: The surge in TGV interest from late 2025 has moderated into a more cautious evaluation phase. Because traditional printed circuit board (PCB) substrates remain highly reliable, the industry is verifying glass substrate adoption conservatively. TGV requires precise execution not only in laser hole drilling, but also in aspect-ratio control, copper plating, and sputtering. Currently, clients are operating pilot lines. While many customers have purchased our laser solutions for testing, current deployments remain limited to dozens of units rather than full mass-production scales, which would require hundreds of units. Substrate thickness demands are also shifting toward thicker glass (0.3T and 0.5T to over 1T). Follow-on orders for commercial mass-production equipment will take time, though we anticipate initial small-scale production deployments within the current fiscal year ending next June.

Q: Is the shift from mechanical wafer dicing to laser dicing gaining momentum?

A: Yes. Surging HBM demand has significantly heightened industry interest. TRUMPF Korea is actively collaborating with our German R&D team, partner firms, and domestic semiconductor leaders to co-develop applications this year.

Q: Does collaborating mean TRUMPF will build dicing equipment directly?

A: No. Standalone lasers cannot perform wafer dicing directly without risking thermal damage to adjacent chip edges. Because wafer processing occurs at the final stage of fabrication, micro-cracks or heat damage cause severe yield and financial losses. We are conducting R&D to enable "pure laser dicing" that minimizes thermal and physical damage.

Q: What technical approaches are being pursued?

A: We are collaborating with equipment makers and end-customers to optimize laser power control, pulse-width selection (picosecond or femtosecond), and thermal management mechanisms.

Q: Do you engage in direct transactions with end-customers for this?

A: We rarely transact directly with end-customers. We supply laser sources to equipment builders, who integrate them into complete tools, though we often participate jointly in R&D alongside end-customers.

Q: Are pure laser dicing tools currently deployed on active mass-production lines?

A: Current wafer dicing relies primarily on mechanical saw blades, with lasers playing a secondary role (such as stealth dicing). Pure laser dicing tools are still under development. Once commercialized, they will significantly reduce structural damage compared to mechanical blades. A similar transition occurred in smartphone cover glass processing, which shifted entirely from mechanical cutting to laser cutting to eliminate edge cracking. We are actively conducting R&D for both silicon (Si) and silicon carbide (SiC) wafers.

Q: What is the target timeline for commercial R&D milestones?

A: Initial tool testing in South Korea is targeted for late this year or early next year. Because semiconductor mass-production transitions require exhaustive qualification to avoid financial risks, adoption timelines will vary by customer.

Q: How does TRUMPF generate revenue in South Korea for EUV lithography laser sources?

A: Our local EUV division does not engage in direct sales activities. When domestic semiconductor manufacturers purchase EUV systems from ASML, TRUMPF headquarters supplies the drive laser units. Our local team handles installation, ongoing maintenance, and technical field support.

Q: So the laser source is installed separately from the main EUV tool?

A: In cleanroom fabs, you see the ASML lithography system. However, our CO₂ drive laser system is installed in the sub-fab level directly below. Installing a single drive laser system involves a dedicated engineering team working on-site over an extended period.

Q: TRUMPF holds an exclusive supply position for these drive lasers?

A: EUV lithography technology was developed through approximately 15 to 20 years of joint R&D between ASML, Zeiss, and TRUMPF.

Q: That means sales efforts are not required for that specific segment?

A: We do not take our position for granted. We continuously collaborate with ASML and Zeiss to increase laser output power. Equipment throughput—measured in wafers per hour (wph)—directly impacts customer return on investment. For High-NA EUV tools, the industry target is laser power exceeding 1 kilowatt (kW), whereas current operational levels remain below 500 watts.

Q: Is the laser source the main bottleneck in increasing output power?

A: It is not the sole factor. Generating EUV light requires firing laser pulses at falling tin droplets twice—at frequencies of 50 kHz to over 60 kHz. Managing energy generation, pulse timing, and optical collection involves complex interactions between the laser source, Zeiss optics, and overall tool design. ASML, Zeiss, and TRUMPF continuously optimize these integrated components together.

Q: What is TRUMPF Korea's revenue target for the current fiscal year?

A: Prior to my predecessor's retirement, annual revenue was slightly under 200 billion won. For the current fiscal year, we expect revenue to reach approximately 200 billion won. While this represents growth, I believe our technological capabilities position us to achieve even higher targets. As battery investments pivot toward overseas hubs and display investments recover, we anticipate further revenue momentum.

Q: Are there other key growth drivers?

A: Severe labor shortages are driving small job shops as well as large enterprises to adopt fully automated smart factory machine tools capable of running unmanned overnight and on weekends. Beyond machine tools, our RF generator and laser divisions are experiencing solid growth driven by EUV adoption, ESS battery production, and 6th-generation OLED investments. In the automotive sector, as Hyundai Motor Group and its Tier-1 suppliers expand production in North America, demand for our 3D 5-axis laser processing tools—where we hold near 100% market share—remains strong. Because our global service network supports clients seamlessly overseas, our products receive the same level of support abroad.

A significant recent challenge is currency exchange rates. Because our parent company reports in euros, translating TRUMPF Korea's revenue from won to euros results in an approximately 20% decline. This means we must achieve double-digit growth well beyond that baseline, which we believe is fully achievable.

OCI Holdings posted its third consecutive quarter of operating profit, as its Malaysian solar-grade polysilicon subsidiary and Vietnamese wafer subsidiary sold out their currently available production through long-term supply agreements (LTAs).

The company reported second-quarter revenue of 1.0231 trillion won and operating profit of 108 billion won on July 23. Revenue rose 31.8% from a year earlier, while the company returned to an operating profit. The latest results mark its third straight quarter of operating profitability since the fourth quarter of 2025.

OCI TerraSus, OCI Holdings' Malaysia-based polysilicon manufacturing subsidiary, recently signed a long-term agreement with a new US customer for solar-grade polysilicon, fully committing its annual production capacity of 35,000 metric tons. To meet growing solar demand driven by the expansion of AI infrastructure in the US, the company plans to add another 35,000 tons of annual capacity, bringing total production capacity to 70,000 tons by 2029.

Its Vietnam-based wafer subsidiary, NEOSILICON Technologies, has also secured contracts covering its planned 11.5-gigawatt (GW) production capacity through 2029. The company currently operates a 2.7GW production line and has begun supplying products. Shipments to a new US customer are scheduled to begin next year.

OCI Holdings said it has established a non-China (Non-PFE) solar supply chain through its Malaysian polysilicon and Vietnamese wafer operations to respond to changes in US trade policy. The company expects deliveries under newly signed contracts to accelerate once uncertainty surrounding Section 232 of the US Trade Expansion Act is resolved.

The company is also expanding its US solar power generation business. OCI Energy recently generated returns by selling the 500-megawatt (MW) La Salle project. It is also negotiating a power purchase agreement (PPA) with a major US technology company for another project targeted to begin construction by the end of this year. OCI Energy is currently developing 29 projects centered in Texas with a combined capacity of 6.5GW, including 3.4GW of solar generation and 3.1GW of energy storage systems (ESS).

"The expansion of AI data centers is driving higher electricity demand in the US, further strengthening growth momentum in the solar market," said Lee Woo-hyun, chairman of OCI Holdings. "We will expand investment across the solar value chain based on our differentiated Non-PFE competitiveness while proactively responding to changes in the global supply chain."

TEMC CNS has resumed shipments of titanium tetrachloride (TiCl₄), a semiconductor precursor used in thin-film deposition, to SK hynix, about 10 months after a fire halted production at its Anseong plant. The company has officially declared a return to normal operations with the first commercial shipment from its new production base in Boeun, North Chungcheong Province.

TEMC CNS held a ceremony on July 23 to mark the first commercial shipment of TiCl₄ from its Boeun Plant 2. About 40 employees, including CEO Lee Dong-jun, Ko Sung-jong, head of Manufacturing Technology, and Koo Ja-kwon, director of Manufacturing Technology, attended the event, which featured a ribbon-cutting ceremony and the departure of the first delivery truck. The products shipped that day will be supplied to SK hynix's D램 production lines.

"Following the fire at our Anseong plant in September 2025, we have established a new production system and resumed supplying products to our customer," Lee said. "This marks a meaningful new beginning for the company's growth, built on our new manufacturing foundation."

Ko said, "When the fire occurred in 2025, the future looked uncertain, but every employee came together to make this resumption possible. It is a meaningful moment that demonstrates the company's resilience in overcoming adversity."

TEMC CNS completed installation of TiCl₄ production equipment and obtained regulatory approvals for Boeun Plant 2 in December 2025. It began trial operations in January and spent approximately six months completing customer qualification and production line validation. Sample shipments began in June, while the first commercial shipment on July 23 marked the start of full-scale production.

The company plans to restore TiCl₄ shipments to pre-fire levels by the end of this year. Before the fire, TEMC CNS supplied approximately 10 billion won worth of TiCl₄ annually to SK hynix. Demand for TiCl₄ and other semiconductor precursors is expected to increase as SK hynix ramps up new D램 production lines, including M15X in Cheongju and the first fab at its Yongin semiconductor cluster. Additional demand exceeding previous supply volumes is expected beginning next year.

TEMC CNS has also restored production of hexachlorodisilane (HCDS), another precursor whose production was halted by the same fire, after relocating the production line to Boeun Plant 2. Shipments to overseas customers, including those in China, began in May, while major customers are currently conducting final production line qualification. The company expects to complete the evaluation process and resume mass production of HCDS later this year.

The resumption of production came about two months earlier than initially expected after the company accelerated consolidation of manufacturing operations at its Boeun facility. Prior to the fire, TEMC CNS had planned to relocate precursor production from Anseong to Boeun Plant 2 by the second half of 2027 to improve manufacturing efficiency and prepare for customers' new production lines. Boeun Plant 2 had previously manufactured products including bis(diethylamino)silane (BDEAS) and disilane (Si₂H₆).

Following the fire, the company converted its long-term investment plan into an accelerated production recovery project by establishing new TiCl₄ and HCDS production lines at Boeun. It also relocated its headquarters from Anseong to Boeun in March, completing consolidation of its manufacturing base. The damaged Anseong Plant 1 is now being considered for future new business operations.

The relocation has nearly doubled the company's TiCl₄ production capacity compared with its previous facility. The new production line incorporates smart factory technologies, automating purification and filling processes while introducing real-time production data management to improve manufacturing efficiency and product consistency. The proximity of parent company TEMC's manufacturing facilities is also expected to generate logistics synergies.

A fire on September 6, 2025, destroyed the TiCl₄ and HCDS production facilities at TEMC CNS's Anseong Plant 1 in Gyeonggi Province. Because the finished goods warehouse was not damaged, the company continued supplying customers through November 2025 using approximately two months of inventory. During the subsequent supply interruption, Merck and Soulbrain, which were already approved suppliers to the same customers, filled the supply gap.

TiCl₄ is a precursor used to form titanium nitride (TiN) thin films during semiconductor deposition processes. A precursor is a chemical material used before a reaction takes place. TiN is used in D램 capacitor electrodes and as a protective barrier for metal interconnects, reducing leakage current and preventing copper diffusion into surrounding dielectric layers to improve semiconductor reliability.

HCDS is a precursor used to deposit silicon nitride (SiN) and silicon oxide (SiO) films. These materials are widely used as insulating and protective layers in D램 and NAND flash devices.

Samsung Electro-Mechanics has signed a multilayer ceramic capacitor (MLCC) supply agreement worth approximately 300 billion won with a major global company for artificial intelligence (AI) servers. To date, the company has secured cumulative long-term agreements (LTAs) worth about 2.3 trillion won in this segment.

Samsung Electro-Mechanics announced on July 23, 2026, that it signed a supply contract valued at approximately 295.1 billion won with a major global client. The contract value accounts for 2.6% of the company’s consolidated revenue from last year. The contract period runs for one year, from Jan. 1, 2027, to Dec. 31, 2027. The client's identity was not disclosed due to confidentiality terms.

Under the agreement, Samsung Electro-Mechanics will supply high-performance MLCCs for AI servers and data center systems. The company stated that the deal reflects market recognition of its MLCC design capabilities, high reliability under extreme temperature and voltage conditions, and robust production quality management.

Samsung Electro-Mechanics has been steadily expanding LTAs with global clients, focusing on components for AI servers. In May, the company signed an LTA worth about 1.5 trillion won for silicon capacitors (Si-Cap). In June, it secured another AI server MLCC supply contract worth approximately 450 billion won with a global cloud service provider (CSP).

Industry analysts note that securing consecutive, large-scale long-term MLCC supply contracts is unusual, as MLCCs are increasingly viewed as strategic components determining the stability and performance of AI infrastructure.

Samsung Electro-Mechanics currently holds more than 40% of the global AI server MLCC market, sharing the lead with Japan's Murata Manufacturing. The company is actively discussing mid- to long-term supply plans with multiple global customers to secure stable demand and accelerate its portfolio shift toward high-value-added products.

AI server MLCCs are high-value components requiring up to ten times the volume of general servers, with as many as 600,000 units installed per server rack. They must deliver ultra-small form factors, high capacity, and operational stability in high-temperature and high-voltage environments, presenting high technical entry barriers.

"Based on customer trust, we will lead the AI component market by developing next-generation advanced products and building a stable supply system," said Chang Duck-hyun, CEO of Samsung Electro-Mechanics.

LIG Defense & Aerospace (LIG D&A) is expanding cooperation with UK defense contractor Babcock International in next-generation defense sectors, including launch vehicles, precision-guided munitions (PGM), frigates, and unmanned systems.

LIG D&A announced on July 23, 2026, that it signed a Strategic Cooperation Agreement (SCA) with Babcock at the Farnborough International Airshow 2026 held in the United Kingdom.

Under the agreement, the two companies will integrate their global supply chains and pursue the joint development of an AH-140 (Arrowhead 140) frigate platform equipped with LIG D&A systems. The AH-140 is an export-oriented naval platform developed by Babcock based on the Royal Navy’s Type 31 frigate.

The companies will also jointly develop launch vehicles and PGMs while establishing a full life-cycle support system covering maintenance, repair, and overhaul (MRO) and capability upgrades. In addition, collaboration will expand into robotics and autonomous unmanned systems.

“This agreement will serve as an opportunity to secure new competitiveness in the global market,” said Lee Hyun-soo, head of LIG D&A’s Global Business Division. “We will continue to expand our partnership to provide integrated maritime defense solutions.”

UniTest will supply semiconductor inspection equipment for sixth-generation High-Bandwidth Memory (HBM4) to SK Hynix under a contract worth approximately 22.4 billion won.

UniTest disclosed on July 23 that it signed a semiconductor inspection equipment supply agreement with SK Hynix. The contract value is 22.38 billion won, equivalent to 20.31% of UniTest's consolidated annual revenue of 110.195 billion won last year.

The supplied equipment is an HBM4 wafer tester. The system is a burn-in test machine that verifies the performance and defects of individual chips on wafers with completed circuits under high-temperature and high-voltage conditions.

The equipment completed quality verification for SK Hynix's mass production lines in the first quarter of this year. UniTest previously signed a 29.5 billion won equipment supply contract in May. Including the latest agreement, the total contract value exceeds 51.8 billion won.

UniTest will supply the equipment to SK Hynix's Cheongju P&T6 packaging and testing production facility by the contract deadline of October 8 and complete installation, setup and trial operation.

UniTest's HBM4 tester requires approximately three months to manufacture. However, the latest contract was secured in advance through prior discussions with SK Hynix regarding supply volume.

There are no deposits or advance payments under the agreement. UniTest will receive 90% of the contract value after delivering the equipment into the semiconductor fab, with the remaining 10% paid after setup is completed. The company manufactures the equipment internally without outsourcing production.

UniTest reported consolidated revenue of 22.4 billion won and an operating loss of 2.5 billion won in the first quarter of this year. Its gross profit margin was 29.91%.

Smartphone makers are expected to expand the use of lower-resolution flexible organic light-emitting diode (OLED) panels in mid- and low-end models as memory prices rise. Rather than reducing OLED adoption, companies are seeking to lower cost pressure by adjusting specifications for components such as memory capacity and display resolution.

Lisa Lee, chief executive officer of market research firm Sigmaintell, said during a media briefing held at the Fastfive shared office in Gangnam-gu, Seoul, on July 23 that "smartphone brands are considering applying flexible OLED displays with slightly lower resolutions to low-end markets." She added that "device makers are looking for ways to reduce costs by combining different specifications."

Smartphone manufacturers are asking component suppliers, including panel and camera makers, to lower prices in order to offset rising memory costs. They are also reviewing adjustments to product configurations, including system-on-chip (SoC) specifications, memory capacity and display resolution.

Sigmaintell said SoCs account for a larger share of smartphone component costs than panels and cameras, meaning manufacturers are likely to restructure the overall cost structure of products rather than seek price reductions from individual components alone. The company said product strategies may differ by segment, with mid- and low-end devices reducing memory capacity or screen resolution while premium models maintain existing specifications.

"Panels and cameras are less expensive than SoCs, limiting the potential for cost reductions," Lee said. "Brand companies are looking for ways to lower costs not only in panels and cameras but also across other components."

Smartphone makers are seeking to maintain OLED adoption partly to reduce the burden on consumers caused by higher prices. Keeping existing specifications unchanged could significantly increase manufacturing costs for budget smartphones, making price increases unavoidable.

Instead of raising prices alone, manufacturers are expected to maintain product competitiveness by offering features that consumers can directly perceive, such as OLED displays. "Even if prices increase, companies will likely provide new features along with the higher price," Lee said. "Applying OLED to new products is one possible approach."

Flexible OLED panels use bendable substrates instead of glass. They have traditionally been used mainly in premium smartphones, but their adoption has expanded into mid-range and budget devices as Chinese panel manufacturers increase supply and panel prices decline.

The smartphone market is expected to contract again next year. Sigmaintell forecasts global smartphone shipments will decline 3.3% to 1.0264 billion units next year from 1.0614 billion units this year. If rising memory prices and weakening demand for budget smartphones intensify, shipments could fall further to 975 million units.

The decline in smartphone demand is expected to continue through the first quarter of next year, with the pace of contraction slowing from the second quarter. The Chinese market is expected to experience a larger decline than the global market due to its higher share of low-end smartphones.

The memory shortage is being driven by rising demand for artificial intelligence (AI) servers. Sigmaintell said consumer memory supply is being reduced as demand for DRAM and high-bandwidth memory (HBM) used in AI servers increases.

Rising memory prices are also expected to affect smartphone shipments by manufacturer. Sigmaintell expects Apple and Samsung Electronics to maintain or expand their market shares due to stable component supply chains, while Chinese smartphone makers with higher exposure to mid- and low-end products will face greater pressure from rising costs.

However, the decline in smartphone sales is not expected to immediately translate into lower demand for OLED panels. Smartphone makers continue to transition products from liquid crystal displays (LCDs) to OLEDs, while adoption of lower-specification flexible OLED panels could increase in mid- and low-end models.

"Even if the overall smartphone market shrinks, the share of flexible OLEDs will continue to expand," Lee said. "In particular, we expect penetration of low-cost flexible OLED products to increase."

LG Energy Solution (LGES) will collaborate with Chungbuk National University (CBNU), North Chungcheong Province, the Ministry of Trade, Industry and Energy (MOTIE), and the Korea Battery Industry Association (KBIA) to cultivate regional talent for the battery industry.

LGES said on July 23 that it signed a memorandum of understanding (MOU) with the four organizations at CBNU's main administration building under the Regional Talent Development for Growth Engine Industries initiative.

The agreement was established in line with the government's regional talent development policy for future growth industries, aiming to connect universities' education and research capabilities with the technology needs of industry. The participating organizations plan to develop curricula that reflect demand from the battery industry while strengthening industry-academia collaboration.

Under the agreement, the participants will jointly develop company-tailored educational programs and short-term training courses, while expanding contract-based enrollment programs and employment-linked education. LGES plans to strengthen regional manufacturing capabilities and workforce competitiveness centered on its Ochang Energy Plant in North Chungcheong Province.

"We will expand cooperation with the government, local authorities and universities to foster regional talent and build a stronger research and development (R&D) ecosystem," said Kim Ki-soo, Chief Human Resources Officer (CHO) and Executive Vice President of LGES.

Investment in Indonesia’s nickel industry continues to accelerate despite a global oversupply of the battery material, as concerns over mineral security increasingly outweigh worries about excess supply. Companies including EcoPro BM are expanding investments to strengthen their access to critical raw materials amid tightening supply chain regulations.

The International Energy Agency (IEA), in its recently published Global Critical Minerals Outlook 2026, estimated that the global nickel market recorded an oversupply of approximately 200,000 metric tons in 2025. Continued investment in mining and smelting, particularly in Indonesia, has rapidly increased both mined and refined nickel production. The IEA expects supply growth to outpace demand for roughly the next decade, with significant new investment becoming necessary only after 2035.

Even so, companies continue to invest aggressively in securing nickel supply chains. EcoPro BM recently announced that 64% of the proceeds from its 1.2 trillion won rights offering will be used to acquire a stake in an Indonesian nickel smelter. The company believes that securing reliable access to nickel has become more important than the existence of surplus supply itself.

While stainless steel remains the largest consumer of nickel, demand growth is increasingly being driven by the battery industry. Nickel has emerged as a strategic mineral because it is a key material for high-energy-density batteries that extend electric vehicle (EV) driving range. Higher nickel content allows batteries to travel farther on a single charge, prompting South Korean battery makers to focus for years on developing high-nickel cathode materials.

Increasing nickel content also reduces reliance on cobalt, a material associated with greater supply chain risks. Ultra-high-nickel cathodes containing more than 95% nickel have been used in vehicles including Tesla’s Model Y Long Range. EcoPro BM is also focusing production at its Hungary plant, which began operations this year, on ternary cathode materials that use nickel as the primary raw material.

Most nickel feedstock is sourced from Indonesia, the world’s largest nickel producer. Backed by abundant reserves, Indonesia has become the center of global nickel supply by attracting investment in mines and smelters. According to the IEA, Indonesia accounts for about two-thirds of global nickel mine production and roughly half of global refined nickel output. Last year, Indonesia’s nickel mine production increased 9% while refined output rose 7%. In contrast, mine production in countries including Australia and New Caledonia declined by more than 10%. The IEA said the global nickel supply chain is becoming increasingly concentrated in Indonesia.

The challenge is that much of Indonesia’s nickel supply chain is controlled by Chinese companies. After the Indonesian government restricted exports of unprocessed nickel ore and encouraged domestic smelting investment, Chinese capital and technology flowed into the country. As a result, major nickel smelters and industrial parks are now largely operated by Chinese companies including CATL, CNGR Advanced Material, and GEM. The IEA projects that by 2035 Indonesia will account for more than 70% of global production of mixed hydroxide precipitate (MHP) and nickel matte, key feedstocks for battery-grade nickel sulfate, while China will produce 70% of global nickel sulfate.

The IEA identified mineral security as the primary reason companies continue investing despite oversupply. Global nickel demand is projected to increase 65%, from 3.532 million metric tons in 2025 to 5.832 million metric tons by 2040. As China expands export controls and nickel production becomes increasingly concentrated in Indonesia, securing stable access to raw materials is becoming a key competitive advantage.

Supply chain regulations, rather than concerns about future shortages, are also driving EcoPro and EcoPro BM’s investments in Indonesia. The United States is tightening restrictions on critical mineral supply chains involving prohibited foreign entities (PFE), particularly where Chinese participation exceeds 25%. EcoPro BM aims to use nickel produced at the BNSI smelter in Indonesia as feedstock that complies with PFE requirements. The investment is also viewed as positioning the company for Europe’s Critical Raw Materials Act (CRMA), which similarly encourages supply chain diversification.

EcoPro’s broader strategy is to establish vertical integration based on low-cost nickel. The company is building a value chain that links nickel produced in Indonesia to precursor materials, cathodes, and battery production in Europe. Cathode materials account for about 40% of battery manufacturing costs, while precursors represent roughly 70% of cathode production costs. Lower nickel procurement costs improve overall price competitiveness. EcoPro aims to build a cost structure capable of competing with lithium iron phosphate (LFP) batteries.

“Cathode material manufacturers also need to secure their own nickel supply chains to strengthen both cost competitiveness and competitiveness in winning new orders,” EcoPro BM Chief Executive Officer Kim Jang-woo said during a rights offering briefing on July 16.

Following its investment in the Indonesia Morowali Industrial Park (IMIP), EcoPro Group is also the largest shareholder in the BNSI nickel smelter at the Indonesia Green Industrial Park (IGIP). Over the past four years, the company has secured annual nickel supply rights for 29,000 metric tons through four smelters—Meiming, ESG, Green Eco Nickel, and QMB—located within IMIP. Once BNSI begins operations in the second quarter of next year, it will add another 36,000 metric tons annually, bringing EcoPro’s total secured nickel supply to 65,000 metric tons per year, enough to produce batteries for approximately 1.5 million EVs.

SK Hynix is accelerating construction of its Cheongju P&T7 advanced semiconductor packaging facility by bringing forward the opening of its first cleanroom by about three months.

According to industry sources on July 23, SK Hynix now expects to open the first cleanroom at P&T7 as early as July 2027. The company had previously announced an October 2027 target.

“SK Hynix recently began bidding for utility and infrastructure work at P&T7 earlier than expected,” an industry source said. “Internally, the company expects the cleanroom to open roughly one quarter earlier than originally planned.” Some equipment-related tenders have failed to attract bidders and are currently being reissued. Industry sources expect all utility infrastructure bidding to be completed by around August at the latest.

Several months after the bidding process is completed, SK Hynix will issue formal purchase orders (POs) to contractors. The contractors will then fabricate the utility infrastructure, deliver it to the site, and install it in the sub-fab. After commissioning is completed, the cleanroom will undergo final cleaning to establish a contamination-free positive-pressure environment. Although the timeline varies depending on the size of the facility, the entire process typically takes 11 to 12 months before a cleanroom is ready for operation.

On July 22, SK Hynix disclosed that it had shortened the cleanroom opening schedule for P&T7, although it did not specify the revised timeline. As investment spending is being brought forward, the initial construction budget has increased to 7.0931 trillion won. The company said the increase reflects the earlier recognition of expenditures that had originally been scheduled for later phases, while the total planned investment of 19 trillion won, announced in January, remains unchanged.

“Initial investment increased as we accelerated the cleanroom opening schedule to respond to rising production demand at P&T7,” SK Hynix said. “The board approved the revised investment amount on July 22, and the disclosure was made in accordance with regulatory requirements.”

P&T7 is SK Hynix’s dedicated advanced packaging and testing facility for AI memory products, including high-bandwidth memory (HBM). The plant is being built on a 230,000-square-meter site in the Cheongju Technopolis Industrial Complex and will include wafer test (WT) and wafer-level packaging (WLP) production lines. Total cleanroom space will reach approximately 150,000 square meters.

SK Hynix held a groundbreaking ceremony for P&T7 in April. At the time, the company planned to complete the 60,000-square-meter WT production line by October 2027, followed by the 90,000-square-meter WLP line in phases through February 2028. Completion of a semiconductor fab refers to the point at which the cleanroom has been opened in a contamination-controlled condition and is ready to receive manufacturing equipment.

Once operational, the P&T facility will package semiconductor chips produced at front-end fabs into final products and conduct quality verification. The plant will support production of HBM through 2.5D packaging technology, including through-silicon via (TSV) processing and vertical chip stacking for DRAM.

SK Hynix has recently accelerated large-scale capital investment to meet robust demand for AI memory. The company is also bringing forward the operational timeline for its Cheongju M15X fab and accelerating cleanroom construction at the first fab in its Yongin semiconductor cluster to expand manufacturing capacity. By rapidly increasing both front-end DRAM production and back-end packaging and testing capacity, SK Hynix is expected to strengthen its ability to meet growing demand for AI memory products such as HBM4.

Some industry observers believe the accelerated schedule may also reflect government efforts to speed up domestic semiconductor investment following plans for the Yongin semiconductor cluster and a proposed large-scale semiconductor manufacturing project in Gwangju.

“There is currently strong pressure at the national level to accelerate semiconductor fab construction,” a construction industry source said. “Engineering contractors are submitting proposals to customers outlining ways to shorten construction schedules for each phase of the project.”

Companies supplying utility infrastructure for semiconductor fabs include Wonik Holdings, STI, HanYang ENG, TEMC C&S, and CnG HiTech.

Coway’s wheelchair basketball team, the Coway Blue Wheels, won the Jeju Special Self-Governing Province Governor’s Cup International Invitational Wheelchair Basketball Tournament.

Coway said on July 23 that the Blue Wheels captured the title at the 13th Jeju Special Self-Governing Province Governor’s Cup International Invitational Wheelchair Basketball Tournament, held at Jeju Halla Gymnasium from July 17 to 20. The team remained undefeated from the preliminary round through the final.

The tournament featured seven teams from South Korea and overseas, including the Coway Blue Wheels, the Jeju Special Self-Governing Province team, the Chuncheon Tigers, and teams from Japan.

The Blue Wheels defeated Suwon Mugunghwa Electronics 65-38 and Daegu Metropolitan City Hall 97-60 in the preliminary round to finish first in their group and advance to the final. They then beat the Jeju Special Self-Governing Province team 65-59 in the championship game. Kim Ho-yong and Kwak Jun-sung each scored 20 points, while Kim Sang-yeol added 13.

Kwak Jun-sung was named the tournament’s Most Valuable Player (MVP), while Head Coach Kim Young-moo received the Best Coach Award.

The Blue Wheels also won the Asia-Oceania Club Exchange Tournament in 2024. This year, the team has claimed titles at the Holt National Wheelchair Basketball Tournament, the Korea Post President’s Cup Wheelchair Basketball Tournament, and the Jeju international tournament.

“Our players maintained their focus until the end, which enabled us to win the championship,” Head Coach Kim Young-moo said. “We will continue striving for strong results in the remaining tournaments this season.”

The Coway Blue Wheels were established in 2022. They are the only corporate-operated wheelchair basketball team among South Korea’s professional wheelchair basketball clubs. During the off-season, the team organizes wheelchair basketball experience programs and school sports club competitions.

SK Hynix is discussing a plan to jointly operate Intel’s semiconductor fabrication facility in Ohio rather than acquire it, according to a media report.

U.S. news outlet Semafor reported on July 22 that Intel is seeking a partner to operate its semiconductor fab in Ohio. Citing people familiar with the matter, the report said SK Hynix is discussing a joint operating arrangement instead of an acquisition. It added that the two companies have not begun formal negotiations and that discussions remain at an early stage.

The possibility of a joint operation has emerged as Intel’s Ohio fab project continues to face delays. Intel broke ground on the Ohio facility in 2022 with a planned investment of 28 billion dollars. The site spans about 1.2 million pyeong and is large enough to accommodate a total of eight semiconductor fabs. The site is comparable in scale to the Yongin semiconductor cluster being developed by SK Hynix in Yongin, Gyeonggi Province, which covers about 1.26 million pyeong.

Intel had originally planned to open the Ohio fab in 2025 but postponed completion to 2030 last year. The company was facing financial difficulties at the time and also carried out large-scale restructuring of its foundry business. An Intel spokesperson said, “Our commitment to the Ohio fab remains unchanged,” adding that the company continues to invest in accelerating construction of the site.

A shortage of memory semiconductor supply is also strengthening the rationale for potential cooperation between SK Hynix and Intel. SK Hynix is expanding memory production capacity by building additional semiconductor fabs in Yongin, Cheongju, and Indiana, but believes further capacity will still be needed. SK Group Chairman Chey Tae-won also said at the Korea Chamber of Commerce and Industry (KCCI) Jeju Forum on July 15 that the company needs to build additional semiconductor plants, including in the United States, and is currently searching for suitable locations.

Building a new fab requires significant time from site selection through mass production. Utilizing a site where construction has already progressed could allow production capacity to be secured more quickly. The Ohio fab is reported to have completed part of its foundational construction.

SK Hynix did not deny the possibility of a joint operation. Asked whether the company had discussed jointly operating the Ohio fab with Intel, an SK Hynix spokesperson said, “We cannot confirm that.”

LS Electric Co. posted record quarterly revenue and operating profit for the second quarter of 2026.

​The company said in a regulatory filing on July 23 that it reported consolidated revenue of KRW 1.577 trillion and operating profit of KRW 178.5 billion for the second quarter. The figures increased 32.2% and 64.4%, respectively, from a year earlier.

​New orders totaled approximately KRW 2.1 trillion, while the company's order backlog rose by about KRW 1.4 trillion from the previous quarter to KRW 7 trillion.

​Growth was driven by its data center power distribution business and extra-high-voltage (EHV) transformer business. Demand for power distribution solutions increased as investments in artificial intelligence (AI) data centers and electric power grids accelerated. Shipments of EHV transformers also expanded, particularly in North America.

​Second-quarter revenue from EHV transformers climbed 91.2% from a year earlier. Revenue at subsidiary LS Power Solution increased 39%, while North American revenue reached approximately KRW 400 billion, marking a record high on a quarterly basis.

​LS Electric said it plans to expand investment in its manufacturing bases in Utah and Texas to increase local production capacity and further strengthen its presence in the North American market.