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Samsung’s Q2 NAND Market Share, Revenue Up Despite Industry Slump

Samsung’s Q2 NAND Market Share, Revenue Up Despite Industry Slump

SEOUL, Aug. 16 (Korea Bizwire) — Samsung Electronics Co.’s share in the global NAND flash market and its revenue increased in the second quarter from a quarter ago thanks to demand recovery in some key products, an industry report said Friday. Samsung’s NAND shipments grew by 30 percent in the April-June period on the back [...]

SK Innovation to Borrow 800 bln Won for Battery Business

SK Innovation to Borrow 800 bln Won for Battery Business

SEOUL, Aug. 15 (Korea Bizwire) – SK Innovation Co., South Korea’s biggest refiner, said Thursday it will borrow 800 billion won (US$658 million) overseas by next year to invest in car battery and battery separator plants. SK Innovation has increased in the battery business as it sees a new growth driver for the country’s third-biggest [...]

S. Korean EV Battery Makers Set to Face Fierce Competition in Europe in 2025

S. Korean EV Battery Makers Set to Face Fierce Competition in Europe in 2025

SEOUL, Aug. 14 (Korea Bizwire) — South Korea’s electric vehicle (EV) battery makers are expected to face fierce competition in Europe in the upcoming years as European companies are ramping up efforts to expand their clout in the fast-growing sector, a trade organization here said Wednesday. LG Chem Ltd., Samsung SDI Co., and SK Innovation [...]

POSCO’s Cryogenic Manganese Steel Earns Gov’t Approval for LNG Tank Use

POSCO’s Cryogenic Manganese Steel Earns Gov’t Approval for LNG Tank Use

SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s top steelmaker POSCO said Tuesday its cryogenic high manganese steel (HMS) has earned government approval as a material reliable for manufacturing land-based liquefied natural gas (LNG) storage tanks. POSCO completed the development of world’s first cryogenic HMS in 2013 after six years of research. The company said [...]

Yongin Mayor Visits Silicon Valley amid Plans for New Semiconductor Industrial Complex

Yongin Mayor Visits Silicon Valley amid Plans for New Semiconductor Industrial Complex

SEOUL, Aug. 2 (Korea Bizwire) — The city of Yongin, Gyeonggi Province, with plans to establish an industrial complex for semiconductors, is looking into the best practices of companies in the Silicon Valley. Yongin mayor Baek Kun-ki visited the cities of San Jose and Santa Clara in California from July 29 to 31 to discuss [...]

S. Korea’s First EV Battery Recycling Plant to Open in Yeonggwang

S. Korea’s First EV Battery Recycling Plant to Open in Yeonggwang

YEONGGWANG, Jul. 29 (Korea Bizwire) — South Korea’s first electric vehicle (EV) battery recycling firm will be established in Yeonggwang Country, South Jeolla Province. County officials announced on Saturday that the construction project for the new recycling center recently began in the Daema Industrial Complex, a regulation-free zone for the e-mobility industry. The center will [...]

Samsung Heavy Develops Lithium-ion Battery Power System for Ships

Samsung Heavy Develops Lithium-ion Battery Power System for Ships

SEOUL, Jul. 29 (Korea Bizwire) — Samsung Heavy Industries Co., a major shipbuilder in South Korea, said Monday it has developed a lithium-ion battery power system for ships. The system, jointly developed with local battery manufacturer Samsung SDI Co., earned a type approval from Norway’s renowned classification society DVL-GL, becoming the first local shipbuilder to [...]