LS MnM weighs output adjustments as copper concentrate shortage squeezes smelters

The Korea Times - Oct 19, 2026

LS MnM, Korea’s only dedicated copper smelter, is considering adjusting copper concentrate purchases and production to protect profitability as a global shortage of the raw material drives processing fees to record lows, the company said Monday. The move comes as London Metal Exchange (LME) Week 2026 opens in London on Monday, bringing together miners, traders and smelters to discuss market conditions and commercial terms. Copper prices are approaching record highs, while spot treatment and refining charges (TC/RCs) for copper concentrate have plunged to record lows, squeezing smelters’ margins. The imbalance reflects a structural mismatch between constrained mine supply and expanding smelting capacity. In a March analysis, the International Energy Agency (IEA) cited declining ore grades, rising capital costs and lengthy mine development timelines as key constraints on copper concentrate supplies. New smelting capacity is growing faster than mine production, intensifying competition for raw materials. The IEA warned that low TC/RCs could persist over the medium term. The Internationa

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APR expands US retail presence as Medicube hits Costco shelves

A Twosome Place makes US debut in Virginia, drawing all-day crowds

Korean dessert cafe chain A Twosome Place has opened its first U.S. store, in Alexandria, Virginia, the company said Monday. Customers lined up from opening to closing on the first day. The store opened Saturday, local time, at 404 King Street, the main street of Alexandria’s historic Old Town district. People started lining up before it opened at 7 a.m., and the line lasted until it closed at 8 p.m. Some customers came from as far away as New York and Baltimore. A Twosome Place has more than 1,700 outlets in Korea and is known for its cakes. Global investment firm Carlyle Group owns the company outright. On the first day, the best sellers included spoonable versions of its icebox cake and of its signature strawberry chocolate cream cake. The top drinks were a black sesame latte and the Dalgona Cream Top, a drink topped with whipped coffee cream. The company said deli items such as a brioche “K-toast” and a Seoul spicy chicken panini also sold well. The store covers about 240 square meters. It has 78 seats, including an outdoor terrace, and Korean design touches. The menu has about

A Twosome Place makes US debut in Virginia, drawing all-day crowds

Samjin Foods opens Shanghai store, targets China expansion

Samjin Foods is taking its Korean fish cake brand deeper into China, opening its first store in Shanghai’s central shopping district as it looks to turn early sales momentum into a broader retail presence. The Busan-based company said Monday that Samjin Fish Cake opened its first store in eastern China, Friday, at New World Dawan Department Store on Nanjing East Road in Shanghai’s Huangpu district. The shop sits near Nanjing Road, one of Shanghai’s best-known shopping streets, and the Bund, a major tourist destination. Unlike the company’s direct-run stores in Korea, the Shanghai outlet offers freshly cooked fish cakes on-site. Its menu includes fish cake croquettes and fish cake bars, along with two varieties of spicy fish cake rice cakes, one fish cake soup dish and two beverages. The company is highlighting cheese-filled croquettes and rosé-sauce fish cake rice cakes, which combine familiar local flavors with Korean street food offerings. Samjin Foods said the store’s preopening period showed promising demand, with daily sales meeting targets from the early days and reaching

Samjin Foods opens Shanghai store, targets China expansion

HD Hyundai demonstrates autonomous USV technology in US

HD Hyundai has become the first Korean company to successfully demonstrate unmanned surface vessel (USV) technology in the United States, the company said Monday. The shipbuilding group said it recently conducted a joint demonstration of autonomous navigation technology with U.S. defense artificial intelligence (AI) company Anduril Industries off the coast of Long Beach, California. About 40 officials from Korea and the U.S. attended the event, including representatives from the U.S. Navy and Coast Guard, the American Bureau of Shipping, the Republic of Korea Navy and the Defense Acquisition Program Administration. The two companies demonstrated the vessel's capabilities in various maritime scenarios, including autonomous navigation, mission changes, formation sailing and emergency responses to engine failures. The three-and-a-half-hour demonstration was relayed through a shore-based control center, allowing attendees to monitor the vessel's operations in real time. The vessel was a 368-ton test ship formerly operated by the U.S. Navy and converted for unmanned operations. It was equipped

HD Hyundai demonstrates autonomous USV technology in US

LG CNS earns global recognition for AI-powered workplace services

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LG CNS earns global recognition for AI-powered workplace services

Auto exports fall 5.5% in Sept. amid Mideast tensions

Korea's automobile exports fell 5.5 percent in September from a year earlier due to persistent tensions in the Middle East and a decline in used-car shipments, government data showed Monday. The value of automobile exports fell to $6.05 billion last month from $6.4 billion a year earlier, the Ministry of Trade, Industry and Resources said in a press release. "Escalating tensions in the Middle East and a decline in used-car shipments due to tighter regulations in major export markets weighed on exports," the ministry said. By region, exports to North America and the European Union increased 9.2 percent and 15.3 percent, respectively, to $3.07 billion and $1.11 billion. Shipments to Asia and the Middle East on the other hand plunged 60 percent and 7.1 percent, respectively, to $330 million and $350 million. Exports of eco-friendly vehicles, including battery electric and gasoline hybrid models, meanwhile, rose 5.9 percent to $2.89 billion. Domestic vehicle sales fell 14.3 percent to 135,000 units last month due to fewer working days driven by the Chuseok holiday. The number of locally produce

Auto exports fall 5.5% in Sept. amid Mideast tensions

Hanwha to distribute 2027 braille calendar to mark 100th anniv. of Korean braille system

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Hanwha to distribute 2027 braille calendar to mark 100th anniv. of Korean braille system

SK hynix, gov't to provide $1.5 bil. in loan guarantees to semiconductor suppliers

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SK hynix, gov't to provide $1.5 bil. in loan guarantees to semiconductor suppliers

Hyundai Rotem Q3 net down 10.3% to $133.9 mil

Hyundai Rotem, the defense and railway subsidiary of Hyundai Motor Group, said Monday its third-quarter net profit fell about 10 percent from a year earlier. Net profit for the July-September period decreased 10.3 percent to 177.98 billion won ($133.9 million), the company said in a regulatory filing. Operating profit also declined 11 percent on-year to 247.1 billion won, while sales inched up 0.1 percent to 1.62 trillion won. For the first nine months of the year, cumulative sales rose 11.2 percent on-year to 4.68 trillion won, while operating profit fell 4.7 percent to 703.7 billion won. The company's order backlog stood at 29.14 trillion won at the end of September, down 1.26 trillion won from three months earlier. Separately, Hyundai Rotem said it plans to acquire Hyundai Wia's defense business for 358.4 billion won to bolster its weapons production capabilities, a move expected to help boost overseas sales of its flagship K2 tanks.

Hyundai Rotem Q3 net down 10.3% to $133.9 mil

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Fathers take on more, but mothers still bear heavier domestic workload

Gov't, businesses team up to help retired detection dogs find new homes

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Gov't, businesses team up to help retired detection dogs find new homes

Finda to become 1st fintech firm to acquire savings bank

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Finda to become 1st fintech firm to acquire savings bank

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