EL DORADO HILLS, Calif. and SINGAPORE, March 31, 2026 /PRNewswire/ — Blaize Holdings, Inc. (Nasdaq: BZAI, Nasdaq: BZAIW) (“Blaize”), a global leader in programmable, energy efficient AI computing, today announced the next phase of its collaboration with Nokia regarding joint validation and ecosystem engagement across Asia Pacific.

Blaize and Nokia are progressing their collaboration through the Nokia Network Innovation Lab in Singapore, designed to support the development, integration, and validation of hybrid AI infrastructure solutions combining Blaize’s AI platform with Nokia’s networking and infrastructure capabilities.

As part of this next phase, the companies are advancing a joint reference architecture — a pre-integrated, validated solution framework that combines Blaize’s AI platform with Nokia’s networking and infrastructure capabilities. The reference is intended to support real-world deployment scenarios across edge and data center environments, providing a foundation for evaluation, integration, and ecosystem collaboration.

The collaboration will be highlighted at GITEX Asia 2026 (April 9–10, Singapore), where Blaize and Nokia will jointly showcase their combined capabilities through demonstrations, ecosystem engagement, and participation in industry discussions focused on next-generation AI infrastructure.

The joint engagement at GITEX Asia is expected to include:

• Joint solution showcase, demonstrating hybrid AI deployments across edge and data center environments
• Innovation Lab introduction, outlining the framework for ongoing validation and ecosystem collaboration
• Joint thought leadership participation, including panel discussions on AI infrastructure and edge computing
• Engagement with enterprises, governments, cloud service providers, and data center operators across Asia-Pacific

These initiatives are part of ongoing engagement efforts to evaluate how hybrid AI architectures can be applied to real-world environments where latency, power efficiency, and scalability are critical.

“This next phase reflects continued progress in our collaboration with Nokia across Asia-Pacific,” said Joseph Sulistyo, Senior Vice President of Corporate Marketing at Blaize. “Through the Innovation Lab and joint solution efforts, we are focused on validating how hybrid AI infrastructure can support real-world applications and enable scalable deployment models across the region.”

“Our collaboration with Blaize continues to evolve as we engage with customers and ecosystem partners across Asia-Pacific,” said Dion Leung, Head of AI and Cloud, Asia Pacific at Nokia. “By combining networking infrastructure with AI inference platforms, we are exploring new approaches to support AI workloads across distributed environments.”

Learn more at: https://www.blaize.com/blog/events/gitex-asia-2026/

About Blaize

Blaize delivers a programmable AI platform, purpose-built for inference in real world environments. Its Hybrid AI architecture enables Practical AI and Physical AI workloads to run efficiently at the edge while integrating seamlessly with cloud and GPU based infrastructure. Blaize solutions support computer vision, multimodal AI, and sensor driven applications across smart cities, industrial automation, telecommunications, retail, logistics, and defense. Blaize is headquartered in El Dorado Hills, California, with a global presence across North America, Europe, the Middle East, and Asia.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are based on beliefs and assumptions and on information currently available to Blaize, including statements regarding the expected scope of the engagement with Nokia and any potential definitive agreements related thereto; the industry in which Blaize operates, market opportunities, and product offerings. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) failure to realize the anticipated benefits of Blaize’s business combination with BurTech Acquisition Corp., which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; and (iii) those factors discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 24, 2026, our and other documents filed by Blaize from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Blaize assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. Blaize does not give any assurance that it will achieve its expectations.

For media inquiries:

press@blaize.com

www.blaize.com

LANZHOU, China, March 31, 2026 /PRNewswire/ — Against the backdrop of the deepening China-Pakistan All-Weather Strategic Cooperative Partnership and the steady progress of the “Belt and Road” Initiative, China’s agricultural science are integrating into Pakistan’s rural development in pragmatic and far-reaching ways.

Professor Youcai Xiong of Lanzhou University—a Foreign Member of the Pakistan Academy of Sciences—and his Dryland Agricultural Ecology Research Team have become a vital conduit for agricultural exchange. Since 2012, the team has focused on sustainable dryland farming, establishing long-term partnerships with numerous Pakistani institutes to explore localized technology paths. By working on the front lines and maintaining close ties with local farmers, the team has successfully translated complex agricultural theories into actionable field practices through on-site demonstrations and training.

Simultaneously, their research provides critical support for regional ecological protection. Addressing food security under the pressure of climate change, has developed systemic solutions for plastic mulch film application and recovery, water-saving high-yield crop cultivation, and soil conservation. Their research into the synergy between ecosystem management and sustainable agriculture provides a basis for achieving “stable yields” and “carbon sequestration.” These achievements serve not only Northwest China but also offer scalable solutions for counterparts in Pakistan.

The research group currently hosts four Pakistani postdoctoral fellows, four Ph.D. candidates, and five master’s students, having cultivated a significant cohort of high-level Pakistani talent. Enrolled in 2012, Dr. Asfa Batool was the first international student to pursue a degree at Lanzhou University and appointed as an Associate Professor at Huanggang Normal University upon graduation. Postdoc Dr. Fazal Ullah leveraged his rigorous research to secure a faculty position at Northwest Normal University. Furthermore, postdoc Dr. Muhammad Maqsood Ur Rehman successfully secured a National Natural Science Foundation project for Excellent Young Foreign Scholars—the only foreign recipient in Gansu.

In terms of publication, the team has published 12 highly cited papers in prestigious journals such as Journal of Advanced Research, Biological Conservation, ACS Nano, Field Crops Research, and Agriculture, Ecosystems & Environment. Beyond the laboratory, the team provides a nurturing environment, offering systematic guidance alongside comprehensive pastoral care—from housing and language support to daily logistics—ensuring a smooth transition to life in China.

Lanzhou University continues to function as a cornerstone for China-Pakistan educational and technological cooperation. In recent years, the university has trained 348 Pakistani students primarily in Grassland Agricultural Science, Ecology, and Chemical Engineering. Over 96% of them have received Chinese government scholarships.

As a significant practice of educational and technological cooperation under the BRI framework, Professor Xiong’s team exemplifies how Chinese higher education fosters both scientific exchange and deepens the bond between the peoples of China and Pakistan. Looking ahead, this link will continue to provide lasting momentum for regional food security and green development.

BEIJING, March 31, 2026 /PRNewswire/ — iHuman Inc. (NYSE: IH) (“iHuman” or the “Company”), a leading provider of tech-powered, intellectual development products in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025. 

Fourth Quarter 2025 Highlights

• Revenues were RMB190.7 million (US$27.3 million), compared with RMB232.7 million in the same period last year.
• Gross profit was RMB127.5 million (US$18.2 million), compared with RMB156.4 million in the same period last year.
• Operating income was RMB9.0 million (US$1.3 million), compared with RMB14.9 million in the same period last year.
• Net income was RMB15.4 million (US$2.2 million), compared with RMB26.5 million in the same period last year.
• Average total MAUs^[1] for the fourth quarter were 23.57 million, compared with 25.78 million in the same period last year.

Fiscal Year 2025 Highlights

• Revenues were RMB807.0 million (US$115.4 million), compared with RMB922.2 million in fiscal year 2024.
• Gross profit was RMB547.6 million (US$78.3 million), compared with RMB640.2 million in fiscal year 2024.
• Operating income was RMB66.8 million (US$9.5 million), compared with RMB71.9 million in fiscal year 2024.
• Net income was RMB95.4 million (US$13.6 million), compared with RMB98.6 million in fiscal year 2024.
• Average total MAUs were 24.98 million, compared with 26.47 million in fiscal year 2024.

Dr. Peng Dai, Director and Chief Executive Officer of iHuman, commented, “During the fourth quarter, we effectively executed our key strategic initiatives, maintaining operational resilience amid a complex environment. As shifting demographic trends reshape the childhood education landscape, we have proactively evolved our product portfolio to ensure long-term sustainability.

A cornerstone of this evolution is our strategic expansion into broader user segments. In the fourth quarter, we launched FreeTalk, an AI-native oral English application designed for a broad spectrum of learners seeking to improve their spoken English across general, academic, and professional contexts. By providing on-demand access to highly realistic AI-powered digital tutors, FreeTalk effectively lowers the barriers to mastering spoken English while creating a flexible, judgment-free environment that helps mitigate speaking anxiety. At the same time, the app allows users to progress through structured learning materials at their own pace and tailor learning content to their individual needs, significantly improving learning efficiency. Powered by advanced speech recognition and generative AI, the platform helps strengthen overall English communication skills by delivering immersive, guided dialogue with real-time adaptive feedback, helping learners refine their pronunciation, fluency, grammar, and vocabulary across a wide range of real-world scenarios. The launch of FreeTalk marks a significant milestone in our strategic expansion beyond childhood education, broadening our total addressable market, extending the user lifecycle, and diversifying our long-term growth opportunities.

Alongside these initiatives, we continued to drive product innovation across our core offerings. Within iHuman Chinese, we introduced a new interactive “Animal Park” module designed around an innovative learning cycle that combines knowledge discovery with built-in review. Children can unlock different animals as they master new Chinese characters, while reinforcement is seamlessly embedded into frequent, engaging interactions such as feeding and cleaning. By integrating literacy learning with edutainment-driven progression, the module adds elements of joy and motivation that enhance engagement and reinforce learning outcomes. We also expanded our smart device portfolio with iHuman AI Bilingual Early Learning Tablet. This device offers families a secure, one-stop learning solution that integrates our comprehensive content ecosystem of stories, animations, songs, and interactive activities. In addition, the tablet features certified eye-protection capabilities and a child-friendly form factor, promoting healthy usage habits while fostering a genuine love of learning.

Our Kunpeng Animation Studio continued to make steady progress in advancing our original animation content and IP. Building on the success of the first Cosmicrew movie, we recently launched the franchise’s second installment Ice Planet, further strengthening its presence among young audiences. To complement the movie’s theatrical screenings, we organized a series of offline fan engagement activities, creating opportunities for children to interact directly with the characters. These in-person experiences extended engagement beyond the screen, deepening audience connection and brand affinity.

Looking into 2026, we will continue to execute with focus and discipline, advancing our product innovation, content strength, and technology to further enhance user experience and learning effectiveness. While navigating an evolving environment, we remain committed to prudent operations and long-term sustainability, with the aim of creating enduring value for users and shareholders.”

Ms. Vivien Weiwei Wang, Director and Chief Financial Officer of iHuman, added, “During the quarter, we made solid progress in our international expansion with our global offerings gaining broader market recognition. Aha World, our open-ended, creativity-driven digital world designed to encourage exploration and imagination, delivered particularly strong performance. From Thanksgiving through the New Year period, daily active users (DAUs) on the U.S. Apple App Store increased by approximately 30%, highlighting the product’s growing appeal in the largest overseas market and its long-term growth potential. In addition, Reading Stars, the innovative reading product we developed in collaboration with Cricket Media, has quickly gained industry recognition for its high-quality content and innovative design. The product was recently honored with both the U.S. National Parenting Product Awards (NAPPA) and the Mom’s Choice Awards (MCA), demonstrating the strong endorsement of our products by the U.S. market.

Reflecting our confidence in the business and commitment to shareholder returns, our board of directors has approved a special cash dividend of US$0.02 per ordinary share, or US$0.10 per American Depositary Share (ADS), totaling approximately US$5.1 million. This marks the third consecutive year in which we have declared a special cash dividend, reflecting the structural sustainability of our financial performance.

Looking ahead, we are encouraged by our resilient business performance and believe our differentiated, content-driven portfolio positions us well to continue building our global presence and creating long-term value.”

Fourth Quarter 2025 Unaudited Financial Results

Revenues

Revenues were RMB190.7 million (US$27.3 million), compared with RMB232.7 million in the same period last year. The decrease in revenues was primarily due to the decline in China’s newborn population and more conservative consumer spending.

Average total MAUs for the quarter were 23.57 million, compared with 25.78 million in the same period last year. The decrease in MAUs was primarily due to the decline in China’s newborn population.

Cost of Revenues

Cost of revenues was RMB63.2 million (US$9.0 million), compared with RMB76.2 million in the same period last year. The decline in cost of revenues was in line with the decrease in revenues.

Gross Profit and Gross Margin

Gross profit was RMB127.5 million (US$18.2 million), compared with RMB156.4 million in the same period last year. Gross margin was 66.9%, compared with 67.2% in the same period last year.

Operating Expenses

Total operating expenses were RMB118.5 million (US$16.9 million), a decrease of 16.3% from RMB141.5 million in the same period last year.

Research and development expenses were RMB44.9 million (US$6.4 million), a decrease of 29.0% from RMB63.3 million in the same period last year, primarily due to savings in payroll-related expenses.

Sales and marketing expenses were RMB52.7 million (US$7.5 million), compared with RMB54.1 million in the same period last year.

General and administrative expenses were RMB20.8 million (US$3.0 million), a decrease of 13.7% from RMB24.1 million in the same period last year, primarily due to savings in payroll-related and other administrative expenses.

Operating Income

Operating income was RMB9.0 million (US$1.3 million), compared with RMB14.9 million in the same period last year.

Net Income

Net income was RMB15.4 million (US$2.2 million), compared with RMB26.5 million in the same period last year.

Basic and diluted net income per ADS were RMB0.30 (US$0.04) and RMB0.29 (US$0.04), respectively, compared with RMB0.51 and RMB0.49 in the same period last year. Each ADS represents five Class A ordinary shares of the Company.

Deferred Revenue and Customer Advances

Deferred revenue and customer advances were RMB219.9 million (US$31.4 million) as of December 31, 2025, compared with RMB283.3 million as of December 31, 2024.

Cash, Cash Equivalents and Short-term Investments

Cash, cash equivalents and short-term investments were RMB1,151.1 million (US$164.6 million) as of December 31, 2025, compared with RMB1,168.7 million as of December 31, 2024.

Fiscal Year 2025 Unaudited Financial Results

Revenues

Revenues were RMB807.0 million (US$115.4 million), compared with RMB922.2 million in fiscal year 2024. The decrease in revenues was primarily due to the decline in China’s newborn population and more conservative consumer spending.

Average total MAUs were 24.98 million, compared with 26.47 million in fiscal year 2024. The decrease in MAUs was primarily due to the decline in China’s newborn population.

Cost of Revenues

Cost of revenues was RMB259.4 million (US$37.1 million), compared with RMB282.0 million in fiscal year 2024. The decline in cost of revenues was in line with the decrease in revenues.

Gross Profit and Gross Margin

Gross profit was RMB547.6 million (US$78.3 million), compared with RMB640.2 million in fiscal year 2024. Gross margin was 67.9%, compared with 69.4% in fiscal year 2024. The decrease in gross margin was mainly due to the diversification and structural upgrades of the Company’s product portfolio.

Operating Expenses

Total operating expenses were RMB480.9 million (US$68.8 million), a decrease of 15.4% from RMB568.2 million in fiscal year 2024.

Research and development expenses were RMB208.4 million (US$29.8 million), a decrease of 15.9% from RMB247.8 million in fiscal year 2024, primarily due to savings in payroll-related expenses.

Sales and marketing expenses were RMB181.0 million (US$25.9 million), a decrease of 18.2% from RMB221.2 million in fiscal year 2024, primarily due to cost savings in marketing activities.

General and administrative expenses were RMB91.4 million (US$13.1 million), a decrease of 7.9% from RMB99.3 million in fiscal year 2024, primarily due to savings in payroll-related and other administrative expenses.

Operating Income

Operating income was RMB66.8 million (US$9.5 million), compared with RMB71.9 million in fiscal year 2024.

Net Income

Net income was RMB95.4 million (US$13.6 million), compared with RMB98.6 million in fiscal year 2024.

Basic and diluted net income per ADS were RMB1.86 (US$0.27) and RMB1.78 (US$0.25), respectively, compared with RMB1.88 and RMB1.82 in fiscal year 2024. Each ADS represents five Class A ordinary shares of the Company.

Special Cash Dividend

To deliver return of capital to shareholders, the Company’s board of directors (the “Board”) approved a special cash dividend of US$0.02 per ordinary share, or US$0.10 per ADS, to holders of ordinary shares and holders of ADSs as of the close of business on April 17, 2026 New York Time, payable in U.S. dollars. The aggregate amount of the special dividend will be approximately US$5.1 million. The payment date is expected to be on or around May 8, 2026 and May 15, 2026 for holders of ordinary shares and holders of ADSs, respectively.

Exchange Rate Information

The U.S. dollar (US$) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the reader. The conversion of Renminbi (RMB) into US$ in this press release is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of December 31, 2025, which was RMB6.9931 to US$1.00. The percentages stated in this press release are calculated based on the RMB amounts.

Non-GAAP Financial Measures

iHuman considers and uses non-GAAP financial measures, such as adjusted operating income, adjusted net income and adjusted diluted net income per ADS, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). iHuman defines adjusted operating income, adjusted net income and adjusted diluted net income per ADS as operating income, net income and diluted net income per ADS excluding share-based compensation expenses, respectively. Adjusted operating income, adjusted net income and adjusted diluted net income per ADS enable iHuman’s management to assess its operating results without considering the impact of share-based compensation expenses, which are non-cash charges. iHuman believes that these non-GAAP financial measures provide useful information to investors in understanding and evaluating the Company’s current operating performance and prospects in the same manner as management does, if they so choose.

Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools, which possibly do not reflect all items of expense that affect our operations. Share-based compensation expenses have been and may continue to be incurred in our business and are not reflected in the presentation of the non-GAAP financial measures. In addition, the non-GAAP financial measures iHuman uses may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from or as a substitute for the financial information prepared and presented in accordance with GAAP.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about iHuman’s beliefs and expectations, are forward-looking statements. Among other things, the description of the management’s quotations in this announcement contains forward-looking statements. iHuman may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: iHuman’s growth strategies; its future business development, financial condition and results of operations; its ability to continue to attract and retain users, convert non-paying users into paying users and increase the spending of paying users, the trends in, and size of, the market in which iHuman operates; its expectations regarding demand for, and market acceptance of, its products and services; its expectations regarding its relationships with business partners; general economic and business conditions; regulatory environment; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in iHuman’s filings with the SEC. All information provided in this press release is as of the date of this press release, and iHuman does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About iHuman Inc.

iHuman Inc. is a leading provider of tech-powered, intellectual development products in China that is committed to making the child-upbringing experience easier for parents and transforming intellectual development into a fun journey for children. Benefiting from a deep legacy that combines nearly three decades of experience in the parenthood industry, superior original content, advanced high-tech innovation DNA and research & development capabilities with cutting-edge technologies, iHuman empowers parents with tools to make the child-upbringing experience more efficient. iHuman’s unique, fun and interactive product offerings stimulate children’s natural curiosity and exploration. The Company’s comprehensive suite of innovative and high-quality products include self-directed apps, interactive content and smart devices that cover a broad variety of areas to develop children’s abilities in speaking, critical thinking, independent reading and creativity. Leveraging advanced technological capabilities, including 3D engines, AI/AR functionality, and big data analysis on children’s behavior & psychology, iHuman believes it will continue to provide superior experience that is efficient and relieving for parents, and effective and fun for children, in China and all over the world, through its integrated suite of tech-powered, intellectual development products.

For more information about iHuman, please visit: https://ir.ihuman.com/

For investor and media enquiries, please contact:

iHuman Inc.
Mr. Justin Zhang
Investor Relations Director
Phone: +86-10-5780-6606
E-mail: ir@ihuman.com

Christensen Advisory
Ms. Alice Li
Phone: +86-10-5900-1548
E-mail: ihumangroup@christensencomms.com

First transaction with SK ecoplant following EDC’s Market Leader Partnership with SK Group, South Korea’s second‑largest conglomerate; the deal is supported by Standard Chartered

OTTAWA, ON, March 31, 2026 /PRNewswire/ — Today, Export Development Canada (EDC) is announcing KRW 390 billion (approximately CAD$360 million) in financing to SK ecoplant, SK Group’s AI infrastructure solution provider. This marks EDC’s first financial guarantee transaction with SK ecoplant and builds on EDC’s broader strategic relationship with SK Group. It is the first transaction following the Market Leader Partnership (MLP) memorandum of understanding (MOU) signed with SK Inc. in 2024.

As part of the SK Inc.–EDC MOU, EDC and SK ecoplant recently concluded a MLP MOU to formalize their collaboration and advance export trade between Canada and South Korea in key sectors of focus, including advanced manufacturing, digital technology, infrastructure, energy and critical minerals. SK ecoplant’s parent company, SK Group, is South Korea’s second‑largest conglomerate, after Samsung, with operations across semiconductors, energy, telecommunications and digital infrastructure, including AI‑related data centres.

“I am delighted to witness the signing of the first transaction under EDC’s Market Leader Partnership with SK Group and SK ecoplant,” said The Honourable Maninder Sidhu, Canada’s Minister of International Trade. “Today’s news represents a key milestone in strengthening Canada–South Korea commercial ties. This collaboration is creating new opportunities for Canadian businesses while supporting sustainable growth and resilient supply chains.”

This transaction with SK ecoplant includes a KRW 292.5 billion (approximately CAD$270 million) EDC guaranteed facility with its banking partner, Standard Chartered as an ECA coordinator and a covered lender, who will also provide an additional KRW 97.5 billion (approximately CAD$90 million) commercial facility to SK ecoplant.

The financing is set to support SK ecoplant’s general corporate purposes including investments and projects focused on semiconductor manufacturing and data centre development.

“Our partnership with SK group is founded on joint recognition of the tremendous potential for trade growth between our countries, and this first transaction with SK ecoplant is a concrete example of how we can help realize that potential,” said Alison Nankivell, President and CEO of Export Development Canada. “Canada has significant capabilities in the advanced manufacturing and digital infrastructure space, and this financing will create supply chain opportunities with a leading company in one of the Asia-Pacific’s most promising markets.”

Denominated in Korean Won, the local‑currency financing is designed to help SK ecoplant manage foreign‑exchange risk effectively.

EDC’s support in South Korea has grown significantly, with total business facilitated increasing from approximately CAD$910 million in 2024 to CAD$1.35 billion in 2025. This includes a sharp increase in financing support, which rose more than tenfold from CAD$17.9 million to CAD$201.3 million over the same period. EDC supports more than 300 customers in South Korea annually. This growth has been supported by EDC’s expanded in‑market presence, including the opening of its representation in South Korea in 2023.

EDC is committed to deepen relationships with market leaders like SK Group in priority Asia-Pacific markets such as South Korea.

“SK ecoplant will utilize this CAD$360 million transaction with EDC and Standard Chartered to support our semiconductor and data centre projects,” said Chai Joon-sik, CFO of SK ecoplant. “This goes beyond a simple financial transaction and marks a new beginning for advanced manufacturing collaboration between Canada and Korea.”

South Korea is Canada’s seventh-largest merchandise trading partner and third-largest in Asia. For 2025, bilateral merchandise trade between Canada and Korea remained robust at CAD$24.36 billion.

Canada exported CAD$7.1 billion in merchandise to Korea in 2025. As bilateral trade continues to grow, new opportunities are emerging for Canadian companies in agri‑food, seafood, advanced manufacturing, energy and clean technology.

The Canada–Korea Free Trade Agreement, Canada’s first free trade agreement with an Asia‑Pacific nation signed in 2015, and the Comprehensive Strategic Partnership established in 2022 have strengthened bilateral ties and supported greater market access for Canadian exporters in South Korea.

South Korea is the fourth-largest economy in Asia, with a nominal gross domestic product (GDP) of US$1.86 trillion in 2025. 

About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca. 

Media Contact: Media | Export Development Canada, 1-888-222-4065, media@edc.ca