SEOUL, Nov. 29 (Korea Bizwire) — Hyundai Motor Group said Tuesday it has signed an initial pact with car battery maker SK On Co. to secure batteries for its dedicated electric vehicle (EV) plant in the United States. The two South Korean companies have signed a memorandum of understanding for the supply of batteries and [...]
SEOUL, Nov. 25 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it has signed an initial agreement with two battery component producers to build a facility in Indonesia to produce an intermediate nickel product for electric vehicle batteries to secure stable supply of the key material. The memorandum of understanding (MOU) [...]
SEOUL, Nov. 23 (Korea Bizwire) — Hanwha Corp., the de facto holding company of South Korean defense-to-chemicals conglomerate Hanwha Group, said Wednesday it is joining hands with major non-ferrous metal smelter Korea Zinc Inc. for collaboration in areas including green energy and minerals development. Under the partnership, Hanwha will participate in various green energy projects [...]
SEOUL, Nov. 23 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical producer, said Wednesday it forged a partnership with a major South Korean smelter of nonferrous metals to work together for a stable supply of electric vehicle (EV) battery components in North America. LG Chem said it signed a memorandum of understanding with [...]
SEOUL, Nov. 23 (Korea Bizwire) — SK Energy Co., South Korea’s leading gas station operator, has teamed up with fuel cell maker Doosan Fuel Cell Co. to establish on-site hybrid energy stations that use fuel cells to generate hydrogen, electricity and heat simultaneously. The two parties jointly announced on Tuesday that they had formed a [...]
SEOUL, Nov. 22 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical producer, said Tuesday it will build its first U.S. cathode plant in Tennessee as it accelerates its overseas push in North America to respond to the growing demand for electric vehicle (EV) components. LG Chem will spend at least US$3 billion on [...]
SEOUL, Nov. 22 (Korea Bizwire) — South Korea’s fuel cell maker Doosan Fuel Cell Co. said Monday that it had signed a deal with China’s ZKRG Smart Energy Technology Co. to supply hydrogen fuel cells as well as to establish a joint venture. Under the terms of the deal, Doosan Fuel Cell will export a [...]
SEOUL, Nov. 18 (Korea Bizwire) — Lotte Chemical Corp. said Friday it plans to raise 1.1 trillion won (US$824.4 million) in a rights offering as part of efforts to secure funds for its acquisition of a local copper foil maker. Lotte Chemical will issue 8.5 million common shares at a price of 130,000 won per [...]
SEOUL, Nov. 17 (Korea Bizwire) — S-Oil Corp., a major South Korea-based refiner, unveiled Thursday a US$7 billion project to build a large-scale petrochemical plant in the country’s southeast, in what will be a milestone in its downstream expansion from oil refining-oriented to petrochemicals. The Shaheen Project aims to build a steam cracking facility to [...]
SEOUL, Nov. 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical producer, said Wednesday it is spending 310 billion won (US$234 million) in total to build new facilities for plastic recycling and the production of a thermal insulator component. LG Chem said it is on track to break ground on the plastic pyrolysis [...]