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SK Chief Meets Biz Partners in Japan, Discusses Chip, Battery Cooperation

SK Chief Meets Biz Partners in Japan, Discusses Chip, Battery Cooperation

SEOUL, June 29 (Korea Bizwire) — SK Group Chairman Chey Tae-won met with key business leaders during his visit to Japan last week and discussed cooperation in various areas, including semiconductors and batteries, industry sources said Wednesday. During the three-day trip from Wednesday through Friday, Chey met with Kenichiro Yoshida, CEO of Sony Group Corp.; [...]

LG Pushes to Advance in Clean Tech

LG Pushes to Advance in Clean Tech

SEOUL, June 29 (Korea Bizwire) — LG Corp., South Korea’s fourth-largest conglomerate, said Wednesday it plans to invest more than 2 trillion won (US$1.5 billion) over the next five years in clean technology, as part of efforts to advance in a new growth sector. The group, which has affiliates in various businesses, ranging from consumer [...]

Lotte Chemical to Invest Additional 140 bln Won to Expand Battery Materials Plant

Lotte Chemical to Invest Additional 140 bln Won to Expand Battery Materials Plant

SEOUL, June 29 (Korea Bizwire) — Lotte Chemical Corp. said Wednesday it will spend an additional 140 billion won (US$108.4 million) to expand its electrolyte solvent factory in South Korea to produce four core electrolyte materials vital to the fabrication of lithium-ion batteries. Lotte Chemical said it will push to produce ethyl methyl carbonate (EMC) [...]

Korean Air to Restore Flights to Half of Pre-pandemic Level by Sept.

Korean Air to Restore Flights to Half of Pre-pandemic Level by Sept.

SEOUL, June 28 (Korea Bizwire) — Korean Air Lines Co., South Korea’s national flag carrier, said Tuesday it will restore its international flights to half of the pre-pandemic levels by September as pent-up travel demand is unleashed amid eased virus curbs. Korean Air currently operates one-third of the 120 international flights it offered before the [...]

Hyundai Doosan Infracore Developing Hydrogen Engine

Hyundai Doosan Infracore Developing Hydrogen Engine

SEOUL, June 28 (Korea Bizwire) — South Korea’s construction equipment maker Hyundai Doosan Infracore Co. has launched a drive to develop a hydrogen combustion engine for use in commercial vehicles, buses and construction machinery. The company announced that it was selected as the lead agency for the development of hydrogen engine systems and storage and [...]

S. Korean Airline Industry At Risk of Being Trapped in ‘Three Highs’

S. Korean Airline Industry At Risk of Being Trapped in ‘Three Highs’

SEOUL, June 27 (Korea Bizwire) — Once firmly on the path to recovery from the disruption brought on by the coronavirus pandemic, the South Korean airline industry is now facing a crisis of being trapped in ‘three highs,’ a term describing high inflation, high exchange rates and high interest rates. The price of aircraft fuel [...]