SEOUL, March 31 (Korea Bizwire) — Doosan Mobility Innovation (DMI), a producer of portable fuel cell power packs, said Thursday it had signed a partnership agreement with the Massachusetts Institute of Technology (MIT)’s Electric Vehicle Team to jointly develop a hydrogen fuel cell-powered motorcycle. The hydrogen motorcycle will be developed by integrating DMI’s DM15 hydrogen [...]
SEOUL, March 30 (Korea Bizwire) – LG Chem Ltd., a leading chemical producer in South Korea, said Thursday that it began the 310 billion-won (US$238 million) project to build facilities for plastic recycling and producing a next-generation thermal insulator component. The envisioned plastic pyrolysis plant in the city of Dangjin, some 78 kilometers southwest of Seoul, will [...]
SEOUL, March 30 (Korea Bizwire) — SK Innovation Co. said Thursday it is considering buying back its own stocks around the time when its battery-making subsidiary SK On Co. will go public in a bid to boost shareholders’ returns. SK Innovation is looking at the buyback of its treasury stocks worth about 10 percent of [...]
SEOUL, March 29 (Korea Bizwire) — POSCO International Corp. said Wednesday it has signed a memorandum of understanding (MOU) with two bioplastic companies to enter the biodegradable plastic recycling sector as part of its bid to expand its green portfolio. POSCO International signed the deal with TotalEnergies Corbion, a Netherlands-based bioplastic company, and Esol, a [...]
SEOUL, March 27 (Korea Bizwire) — Hyundai Glovis Co. said Monday it has signed a memorandum of understanding (MOU) with GS Energy Corp. for a collaboration in the production and delivery of ammonia and hydrogen as it accelerates its clean energy drive. Under the MOU, Hyundai Glovis will take charge of the marine transportation of [...]
SEOUL, March 24 (Korea Bizwire) – LG Energy Solution Ltd. (LGES) said Friday it will invest 7.2 trillion won (US$5.56 billion) to build what will be its second standalone battery manufacturing site in the United States, sticking to its earlier plan after a period of reconsideration. LGES will spend 4.2 trillion won to build a [...]
SEOUL, March 24 (Korea Bizwire) — Hanwha Advanced Materials Inc., a unit under South Korea’s energy-to-defense Hanwha Group, will spend US$147 million to build a facility in the U.S. state of Georgia to supply a key material to Hanwha’s solar panel arm, the Georgia governor’s office has said. The factory will be located in Cartersville, [...]
SEOUL, March 24 (Korea Bizwire) — South Korean chemical firm SK Geocentric Co. said Friday it is spending an additional 400 billion won (US$310 million) to build a second factory for advanced packaging materials in China. SK Geocentric signed the initial agreement earlier this week with Weixing Chemical on expanding the ethylene acrylic acid (EAA) [...]
SEOUL, March 24 (Korea Bizwire) — BGF Retail Co., the operator of CU convenience stores, said Thursday it has signed a memorandum of understanding (MOU) with domestic start-up KEIL to convert near-expired food items into feed for mealworms. Under terms of the MOU, BGF Retail will provide the near-expired food items waiting for disposal at [...]
SEOUL, March 23 (Korea Bizwire) — South Korean battery maker SK On Co. said Thursday it is forming a joint venture with two battery component partners to build a precursor manufacturing facility on the country’s southwest coast. SK On will sign an investment agreement with EcoPro Co. and China’s Green Eco-Manufacture (GEM) on Friday, under [...]