SEOUL, Oct. 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), a major secondary battery maker, said Wednesday it shifted to the black in the third quarter from a year earlier on the back of robust demand in electric vehicle (EV) batteries and a weaker Korean won currency. LGES said it will continue its focus [...]
SEOUL, Oct. 26 (Korea Bizwire) — Samsung SDI Co. said Wednesday it posted record high profit and sales in the third quarter on the back of strong demand for secondary batteries used in electric vehicles (EVs). Operating profit reached 565.9 billion won (US$396 million) in the July-September period, up 51.5 percent from 373.5 billion won [...]
SEOUL, Oct. 24 (Korea Bizwire) — POSCO Chemical Co. said Monday its third quarter net profit jumped 60.5 percent from a year earlier on the back of solid growth in the lucrative battery materials segment. Net income came to 65.6 billion won (US$45.7 million) in the July-September period, compared with a net profit of 40.8 [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korea’s major petrochemical companies are shutting down their naphtha cracking centers (NCC) for regular maintenance amid a prolonged industrial recession resulting from the global economic slump. LG Chem Ltd. launched regular maintenance of its NCC at Yeosu in South Jeolla Province late last month. In general, regular maintenance [...]
SEOUL, Oct. 21 (Korea Bizwire) — EcoPro BM Co., a South Korean cathode producer, said Friday it has completed the construction of a new production plant that has the world’s largest output capacity. The new CAM7 plant in Pohang, about 370 kilometers southeast of Seoul, was built by its joint venture company formed with battery [...]
SEOUL, Oct. 21 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Thursday it will introduce cutting-edge robots at the Ulsan industrial complex, or Ulsan CLX, the company’s flagship refining factory site in the southeastern port city. The new robots at Ulsan CLX include a four-legged walking robot called SPOT as well [...]
DAEJEON, Oct. 21 (Korea Bizwire) — A South Korean research lab said Thursday it has developed a new additive to improve the flame resistance of rechargeable batteries. The Electronics and Telecommunications Research Institute announced that the newly-developed fluorosulfuric acid-based flame resistance additive features superior flame resistance and safety compared to existing triphenyl phosphate (TPP) flame [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Thursday it has signed a non-binding supply agreement with an Australian partner for a key mineral used in lithium-ion batteries. Under the memorandum of understanding with Syrah Resources Ltd., the Australian company will provide 2,000 tons of natural graphite [...]
SEOUL, Oct. 19 (Korea Bizwire) — A rubber byproduct produced during the process of manufacturing tires has turned out to be ideal for trekking boot outsoles. South Korean outdoor brand Eider said Tuesday it will release new trekking boots developed as part of a collaboration with tire company Nexen Tire Corp. The boots come in [...]
SEOUL, Oct. 18 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Tuesday it plans to take over AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, for US$566 million. In a regulatory filing, LG Chem said it will invest the amount in its U.S. affiliate, LG Chem [...]