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SINGAPORE, Oct 27 (Reuters) – A surge in supply of liquefied natural gas (LNG) coming to market this year and next is poised to change the rules of the market, International Energy Agency Executive Director Fatih Birol said on Monday.

LNG markets are turning from sellers’ markets to buyers markets’, which is pushing LNG prices down, an important point for LNG importers in Asia, he said.

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Birol also said that power demand, driven by data centres and air conditioning, is growing at levels not seen in decades in both advanced and emerging economies, and that nuclear power is making a comeback.

“Nuclear is coming back and coming back strong in terms of the lifetime extensions of the nuclear power plants in some countries, in terms of building new traditional nuclear power plants and as we have analysed in our last report, small modular reactors,” Birol said.

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• HD Hyundai hosts Future Tech Forum in Gyeongju on the 27th, the first official session for APEC 2025 Korea
• Chairman Chung emphasized the need for shipbuilding innovation; inviting partnering companies as speakers
• Forum covered issues on next-generation defense technologies, AI and digital transformation, robotics, and Korea–U.S. shipbuilding cooperation

SEOUL, South Korea, Oct. 26, 2025 /PRNewswire/ — HD Hyundai opened APEC 2025 Korea by presenting a blueprint for the future of shipbuilding in collaboration with global leaders.

HD Hyundai held the Future Tech Forum: Shipbuilding at the Asia-Pacific Economic Cooperation (APEC) CEO Summit on Monday, October 27 at Munmu Hall, Gyeongju Expo Grand Park Cultural Center. The theme of the forum was dedicated to “Shaping the Future of Shipbuilding.”

Attended by more than 600 participants, the event brought together Chairman Chung Kisun, along with HD Hyundai executives and employees. It also invited speakers from Huntington Ingalls Industries, Anduril Industries, and Siemens, as well as representatives from the shipbuilding industry, academia, government, and the military as the audience.

Chairman Chung delivered the keynote speech, presenting the potential for sustainable development in the shipbuilding industry through innovative technologies and called for global cooperation to make it a reality.

In his remarks, Chairman Chung stated, “The rapid advancement of AI technology has had a tremendous impact on other key fronts of our innovation – the sustainability of our ships and the digital manufacturing cycle,” adding, “For all these exciting possibilities to come true, we’ll need much closer collaboration across industry boundaries – a truly global alliance of innovation.”

He continued, “We are fully ready to be a facilitating partner in the American naval renaissance, working closely with leading innovators in this transformative endeavor.”

He further emphasized the future vision and innovations for the shipbuilding industry, underscoring AI-driven technology, smart shipbuilding for enhanced productivity, and strategic cooperation with the United States.

HD Hyundai’s key partners also participated as speakers at the forum, discussing innovation and collaborative strategies for the shipbuilding industry.

John Kim, Head of Anduril Korea, emphasized the importance of developing next-generation defense technologies capable of responding flexibly and swiftly in an era marked by complex unmanned threats such as drones and missiles. HD Hyundai and Anduril are collaborating on the joint development of an unmanned surface vehicle (USV). In addition, Kim Hyung-taek, HD Hyundai’s Naval AI Advisor, presented HD Hyundai’s strategy to lead the autonomous naval vessel market by incorporating the company’s vessel autonomy and Anduril’s mission autonomy.

Patrick Ryan, Chief Technology Officer (CTO) of the American Bureau of Shipping (ABS), introduced AI, digital twins, smart shipyards, autonomous navigation systems, remote inspection, and robotics as key innovative technologies that will drive the future of the shipbuilding industry.

Aerin Jungmin Lee, Head of AI Strategy at HD Hyundai, shared the company’s future vision under the theme “A Sustainable Maritime Industry Powered by Data and AI.” She also introduced in-house–developed AI solutions designed to enhance efficiency and safety, including Oceanwise, HD Agent, and Myeong-Jang Agent.

Joe Bohman, CTO of Siemens, presented an intelligent manufacturing innovation strategy for the shipbuilding industry centered on AI-based digital twins and the Marine Digital Thread. He emphasized that AI-powered digital solutions connecting the entire process—from design and production to maintenance—can dramatically enhance productivity and quality.

Nicolaus Radford, CEO of Persona AI, identified population decline, aging demographics, and a shortage of skilled labor as key challenges for future industrial sites. As a solution, he proposed humanoids that combine intelligence with physical capabilities and unveiled the current status of a shipbuilding humanoid being co-developed with HD Hyundai.

Eric D. Chewning, Executive Vice President of Huntington Ingalls Industries, outlined the company’s mission and naval shipbuilding capabilities and announced plans to expand Korea–U.S. cooperation in the shipbuilding sector. HD Hyundai and Huntington Ingalls Industries plan to jointly explore ways to strengthen the U.S. Navy’s shipbuilding capacity and pursue strategic collaboration on projects such as next generation logistics ship. The two companies also intend to expand joint research and technological exchanges in advanced fields including robotics and AI, while cooperating on lifecycle support and maintenance systems for naval assets.

The APEC Future Tech Forum serves as a venue where representatives from leading global corporations, governments and institutions, and academia gather to review the current state of major industries and share blueprints for the future. HD Hyundai opened the forum as its first corporate host, and sessions will continue through the 30th, covering themes including shipbuilding, defense, retail, AI, digital asset, and future energy.

SOURCE HD Hyundai

By Rhiannon Hoyle

  A Rio Tinto-controlled company has asked law enforcement to help with an investigation into allegations of corruption and unethical conduct at the giant Oyu Tolgoi copper operation in Mongolia. 

  "We are aware of allegations involving procurement-related activities," Oyu Tolgoi LLC said in a statement. The company is "conducting a comprehensive internal investigation" and has "sought cooperation of law enforcement authorities." 

  It said it couldn't comment further given the probe is ongoing. 

  Oyu Tolgoi is 66% owned by Rio Tinto, while the government of Mongolia owns the rest. Rio Tinto manages the operation, which it expects to become the world's fourth-largest copper mine by 2030. 

  The operation is a core part of Rio Tinto's plans to grow and diversify its portfolio away from steel ingredient iron ore, which it currently relies on for the bulk of its earnings. Increasing copper output is a priority for many of the world's biggest miners given the metal is used heavily to build electric cars, renewable energy and data centers. 

  Rio Tinto has invested billions of dollars in an underground expansion of the Oyu Tolgoi mine, where it expects production will increase by more than 50% this year. 

  Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com 

  (END) Dow Jones Newswires

  October 26, 2025 22:18 ET (02:18 GMT)
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