K-defense surge: 5 stocks to know in 2 minutes
Hanwha Aerospace
Specializes in the development, manufacturing and maintenance of aerospace engines and land defense solutions featuring artillery systems, armored vehicles and air defense systems
The K9 Thunder 155 mm self-propelled howitzer, which is currently used in 10 countries (Korea, Turkey, Poland, India, Finland, Norway, Estonia, Australia, Egypt and Romania) headlines Hanwha Aerospace's defense products along with the K10 ammunition resupply vehicle and Chunmoo Multiple Rocket Launcher System.
Stock price increased from 248,000 won ($181) per share on June 20, 2024, to 939,000 won on June 20, 2025, to reach a market capitalization of 44.5 trillion won as the No. 5 stock on Kospi
Hyundai Rotem
Manufacturer of railway systems, plant equipment and defense solutions
As Korea's sole tank manufacturer, Hyundai Rotem produces the K2 Black Panther tank used by Korea and Poland, as well as armored vehicles and uncrewed ground vehicles.
Stock price increased from 40,150 won per share on June 20, 2024, to 212,000 won on June 20, 2025, to reach a market capitalization of 23.2 trillion won as the No. 22 stock on Kospi
LIG Nex1
Major defense contractor of Korean military boasting a comprehensive product range that covers land, sea and air defense with a focus on precision-guided munitions
Led by the Cheongung II, a medium-range surface-to-air missile that has been exported to the United Arab Emirates, Saudi Arabia and Iraq, LIG Nex1 has exported its missile systems to 11 countries and aims to expand the list to 30 by 2030.
Stock price increased from 213,000 won per share on June 20, 2024, to 608,000 won on June 20, 2025, to reach a market capitalization of 13.5 trillion won as the No. 41 stock on Kospi
Korea Aerospace Industries
Only integrated aerospace manufacturer in Korea capable of developing and producing fixed-wing aircraft, helicopters and uncrewed aerial vehicles while supplying parts to other global aerospace firms such as Boeing and Airbus
With over 1,300 aircraft produced, KAI has exported 224 of them, and the FA-50 light combat fighter jet has been delivered to Indonesia, the Philippines, Iraq and Poland.
Stock price increased from 52,800 won per share on June 20, 2024, to 95,000 won on June 20, 2025, to reach a market capitalization of 9.4 trillion won as the No. 56 stock on Kospi
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Korea Herald
6 hours ago
- Korea Herald
LG Uplus debuts financial AI model on AWS Bedrock
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Korea Herald
7 hours ago
- Korea Herald
KCCI chief suggests EU-style economic bloc between Korea, Japan
Chey Tae-won says tie-up between neighbors in AI, manufacturing could be key to weathering global economic storm Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry, doubled down on his proposal for a Korea-Japan economic bloc that is akin to the EU, stressing that the two nations must strengthen cooperation in AI and manufacturing sectors as global economic uncertainties intensify. Envisioning a bloc that would unite the two neighbors — both grappling with stagnant domestic economies, aging population and rising global trade barriers — Chey has been advocating such a union would create a $6 trillion economic zone, making it the world's fourth-largest economy, one that would be better places to combat these shared challenges. "The question is: Is Korea okay the way it is? If not, we need to explore new options that we have never tried before," Chey told reporters during a press conference Thursday on the sidelines of the 48th KCCI summer forum held in Gyeongju, North Gyeongsang Province. 'A Korea-Japan economic bloc could be one of those options, and it can grow into a community like the EU,' he added. Chey acknowledged the proposal may meet with mixed public sentiment, but noted that many Japanese business and political leaders he met were not opposed to the idea. He met with Japanese Prime Minister Shigeru Ishiba in May, advocating for deeper economic cooperation between the two countries. 'Japan thinks a lot more in terms of economic security and it is my understanding that Prime Minister Ishiba is also putting a lot of efforts and interest into it as well," he said. Chey pinpointed artificial intelligence and manufacturing as two critical areas where Korean and Japanese expertise could combine forces. 'To do AI well, we have to join hands with Japan and exchange data with each other,' he said, noting Korea's domestic industry, manufacturing scale and data alone are not big enough on their own. 'When Korea and Japan combine data together, we can even achieve at least some competitiveness," he said. 'There are many issues South Korea cannot resolve alone.' He believes AI could be the very key to tackle Korea's dwindling manufacturing industry. 'In this era of AI, if Korea fails to rebuild its manufacturing industry through AI, a large portion of Korea's manufacturing industry could be wiped out within a decade, he said. 'It's a grim scenario, but AI is our only hope at this point.' Chey raised alarm over China's rapid adoption of AI. "In AI, China is catching up and applying it faster than we are. Korea needs to catch up as soon as possible to stay competitive," he said. On the domestic front, Chey called for efforts to scale Korea's AI ecosystem, including the development of infrastructure, the cultivation of talent and the nurturing of a vibrant startup environment. 'What I want to ask the government is this: Create a market. We need public sector-led AI projects," he said. "Once these projects are launched, startups, mid-sized firms and large companies can all participate and make something. That's how we can increase the number of people with experience and training in AI." To that end, infrastructure is critical, he added. 'We need to make many applications for accessible AI, but more importantly, we need the infrastructure to support them, like AI data centers with GPU capacity," he added. Such resources should be publicly available for startups and SMEs to train AI models and develop practical product. Chey, who is hosting the upcoming APEC CEO Summit in October in Gyeongju, said he hoped the event would promote international cooperation not only in AI, but also in solving broader challenges such as trade issues. 'One thing I would like to see come out of APEC is a clear solution to the tariff issues,' he said but adding it would be ideal if the matter could be resolved before the summit. 'If tariff issues are resolved, it would be a strong signal that economic threats are easing. Beyond tariffs, Chey said he expressed home for new types of cooperation in AI, semiconductors, shipbuilding, steel and automobiles. Chey said he is putting all out efforts to invite many global business leaders to the upcoming meeting. "Our approach now is to ask the (leaders) who they want to meet when they come to Korea," he said. "If they believe they can meet someone important to them here, the likelihood of attendance will increase. Because ultimately, they need a clear reason to come."
Korea Herald
a day ago
- Korea Herald
Renowned human rights lawyer urges Korea to adopt forced labor import ban
No company is free from forced labor in global supply chain, stresses Vandenberg, founder of Human Trafficking Legal Center American human rights lawyer Martina Vandenberg has called on South Korea, an important economy in the global supply chain, to enact an import ban on goods made with forced labor during her recent visit to Seoul, saying such a measure would benefit not only exploited workers abroad but Korean workers as well. "Forced labor is ubiquitous, and it is so frequently found in global supply chains" said Vandenberg, president of Washington-based Human Trafficking Legal Center, in an interview with The Korea Herald. It is 'a feature, not a bug' in the global economic system, and 'it's systematic.' She visited Seoul earlier this month to speak at a forum on the forced labor issue, co-hosted by the National Assembly Labor Forum, the National Human Rights Commission and the Korean Bar Association. The Human Trafficking Legal Center, founded by Vandenberg, is a nonprofit that trains pro bono lawyers to seek restitution for human trafficking victims. She has trained more than 4,000 pro bono attorneys. 'At this point in the global economy, if you want a job and you're coming from a poor country, you have to buy that job,' she said. 'You pay recruitment fees, fees for medical tests, fees to travel. And when workers arrive at the job site, they discover they're not being paid the rate they were promised. Their debt back home keeps growing. They may be victims of deception, violence or even sexual violence.' "When so many workers across the globe are experiencing forced labor, we have to ask how the system is so broken," she added. She explained that many firms build layers of subcontractors — "subcontractors, and subcontractors and subcontractors" — to distance themselves from legal responsibility. 'They're trying to avoid liability, both criminal and civil.' But the real pressure, she emphasized, comes from the top. 'It's the companies in developed economies putting enormous pressure on supply chains to lower prices.' 'No company is free from this,' Vandenberg said. 'American companies are not free from this. South Korean companies are not free from this.' US import ban model To address the issue, the United States has enforced Section 307 of the Tariff Act, which prohibits the import of goods made with forced labor. Although the law has existed since 1930, it became enforceable only after loopholes were closed in 2016. 'This enforceability has had an enormous impact,' she said. 'Before, companies operated with total impunity. No one would prosecute them. No one would stop them. But now they realize someone is watching. Someone is investigating. And if their supply chain is tainted with forced labor, they may not be able to sell their goods in the US, the EU, Canada or Mexico.' Vandenberg said, 'We hope someday they won't be able to bring their goods into South Korea — when South Korea has an import ban.' 'South Korea is a very important economy, a key player in the global economy,' she added. According to a 2023 report by international human rights group Walk Free, South Korea imports up to $20 billion worth of goods each year that are at risk of being linked to forced labor. Many of these products originate from regions where Uyghur workers and others are forced into labor in the lowest tiers of global supply chains. While Korea has not yet proposed such a bill, The Korea Herald has learned that Rep. Kim Tae-seon of the ruling Democratic Party is preparing to introduce legislation following a series of public discussions. Import bans, she noted, do more than protect workers abroad. 'They also protect workers at home. There's no way a Korean or American worker can compete with someone earning almost nothing. A US steelworker, who testified in a hearing before the Senate Finance Committee several years ago, said 'There's no way I can compete with someone held in slavery.' So US and South Korean workers can't compete when other workers aren't being paid." Vandenberg suggested that import bans can be incorporated into bilateral trade agreements. Canada and Mexico, for example, adopted import bans as part of the US-Mexico-Canada Agreement, negotiated under the Trump administration in 2020. 'It's a very good way for countries to negotiate with the US — agree to adopt import bans and reach mutually beneficial trade deals,' she said. Korean sea salt under scrutiny The US has already taken action against a Korean company. In April, US Customs and Border Protection issued a withhold release order against products from Taepyung Salt Farm, one of Korea's largest sea salt producers, citing evidence of forced labor. The action followed a 2022 petition from Korean civic groups urging a ban on Korean sea salt allegedly produced under forced labor conditions. According to Vandenberg, the action against the Korean company is highly unusual. 'It's one of only three issued this year -- alongside actions against frankincense from Somaliland and seafood from a Chinese fishing vessel, Zhen Fa 7, which had Indonesian fishers onboard.' 'We don't believe any withhold release order should be modified or revoked until there is proof that workers have been compensated and that conditions have changed,' she said. 'The whole point is not just to block goods — but to change the reality for workers on the ground.' She added, 'There's still a long way to go. It will take attention and effort from the company and Korean authorities before any modification or revocation would be justified.' shinjh@
