SEOUL, Jun. 19 (Korea Bizwire) — South Korean steelmakers are likely to continue to suffer weak business results in the second quarter of the year due to high iron ore prices and a supply glut amid concerns over a global economic slowdown, analysts here said Wednesday. The price of iron ore, one of the main [...]
SEOUL, Jun. 17 (Korea Bizwire) — A South Korean research institute said Monday that it has developed a technology to make solid-state batteries that are very compact and safe for use in next generation electric cars and energy storage systems (ESSs). The all-solid battery replaces the liquid electrolyte found between the positive and negative poles [...]
SEOUL, Jun. 17 (Korea Bizwire) — Samsung Electronics’ semiconductor sector is tapping into the popularity of so-called “vlogging”, offering new media content as part of its promotional channel. Vlog is a combination of the word “video” and “blog,” and refers to video content that is typically updated on a regular basis. On Sunday, “What are [...]
SEOUL, Jun. 17 (Korea Bizwire) — For a car to truly drive itself without user control, it needs to be continuously aware of surroundings and make split-second decisions in any situation via the vehicle’s autonomous driving system. As a self-driving car’s system must be based on complex data sets to navigate the road and electronics [...]
SEOUL, Jun. 14 (Korea Bizwire) — Sungdong Shipbuilding & Marine Engineering Co., a midsized local shipbuilder currently under court receivership, is on the verge of declaring bankruptcy, industry insiders said Friday, after it failed to find eligible buyers ahead of a deadline for its sale. The Changwon District Court, which manages Sungdong’s rehabilitation process, rejected [...]
ULSAN, Jun. 13 (Korea Bizwire) — South Korean petrochemical companies plan to invest 14.5 trillion won (US$12.2 billion) by 2023, the finance minister said Thursday, in an apparent move to boost their output capacity. Hong Nam-ki, the minister of economy and finance, also said the government is considering offering additional tax benefits to petrochemical companies [...]
SEOUL, Jun. 13 (Korea Bizwire) — SKC Inc., a chemical unit of SK Group, said Thursday it has decided to acquire KCF Technologies Co. (KCFT), the world’s top producer of copper foil for lithium-ion batteries, in a bid to diversify its business portfolio. SKC said it will buy a 100 percent stake in KCFT, currently [...]
SEOUL, Jun. 13 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Thursday it will establish an electric vehicle (EV) battery joint venture (JV) with Geely Automobile Holdings Ltd. in China in a push to tap deeper into the neighboring country’s fast-growing EV market. Under their agreement signed in Ningbo, Zhejiang province, [...]
SEOUL, Jun. 13 (Korea Bizwire) — He is not an alchemist, but when it comes to handling metals, Kim Yong-tae, an engineer at South Korea’s top steelmaker POSCO, is a top-notch artisan, although he does not use a forge to make the metal submit to his will. Instead, he uses a complicated formula and a [...]
SEOUL, Jun. 7 (Korea Bizwire) — South Korean shipbuilders may not meet their annual order targets in 2019, industry observers said Friday, as global shipbuilding orders are falling in the face of the escalating U.S.-China trade dispute. South Korea’s three major shipbuilders — Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering [...]