SEOUL, May 10 (Korea Bizwire) — Lotte Chemical Corp., a unit of retail-to-construction conglomerate Lotte Group, said Friday it will start commercial production at its plant in United States this month. In a joint project with Westlake Chemical Corp., Lotte Chemical completed the construction of the 3.6 trillion-won (US$3.1 billion) ethylene plant in Louisiana late [...]
SEOUL, May 9 (Korea Bizwire) — Samsung Electronics Co. on Thursday introduced the world’s highest-resolution image sensor, with 64 megapixels for smartphones, to meet the growing demand for mobile devices with better image quality. Samsung unveiled two new 0.8-micrometer pixel image sensors — the 64-megapixel ISOCELL Bright GW1 and the 48-megapixel ISOCELL Bright GM2, expanding [...]
SEOUL, May 9 (Korea Bizwire) — South Korea will spend 240 billion won (US$204 million) in the next 10 years to develop key semiconductor technologies that can alter the paradigm of the chip industry as a whole, the science ministry said Thursday. The medium-to-long term chip sector growth plan centers around securing know-how in such [...]
SEOUL, May 7 (Korea Bizwire) — SK Innovation Co., a latecomer to the electric vehicle battery market, joined the ranks of the world’s top 10 players in terms of sales during the first quarter of the year, industry data showed Tuesday. According to the data by SNE Research, a market researcher on renewable energy, SK [...]
SEOUL, May 1 (Korea Bizwire) — South Korean steelmakers are facing a double whammy of rising iron ore prices and low demand from major clients, industry sources said Wednesday. Steelmakers have passed high costs of raw materials such as iron ore and coking coal onto customers, but they have difficulties in demanding that their clients [...]
SEJONG, Apr. 30 (Korea Bizwire) — South Korea will make a concerted effort to build up its non-memory chip industry in line with its goal of becoming a global semiconductor powerhouse by 2030, the government said Tuesday. Under the system semiconductor vision strategy, Asia’s fourth-largest economy has set its sights on establishing itself as the [...]
SEOUL, Apr. 30 (Korea Bizwire) — The overtime hours average has been on a steady decline at South Korean companies affected by the mandatory 52-hour workweek, a government report said Tuesday. According to the report by the Ministry of Employment and Labor, the average overtime hours per person at manufacturing companies with more than 300 [...]
SEOUL, Apr. 26 (Korea Bizwire) — Yonsei University plans to open up a new Department of System Semiconductor Engineering in 2021 that will offer graduates the guarantee of a job at Samsung Electronics Co. The university and Samsung agreed early this week to create the new department and have notified the Ministry of Education. The [...]
SEOUL, Apr. 25 (Korea Bizwire) — POSCO, South Korea’s largest steelmaker, said Thursday it will spend 350 billion won (US$302 million) to build new byproduct gas power generating facilities at its main steel mill. The new byproduct gas power plants inside its still mill in Pohang, some 370 kilometers southeast of Seoul, will be completed [...]
SEOUL, Apr. 25 (Korea Bizwire) — SK hynix Inc. said Thursday its first-quarter net dipped 64.7 percent from a year earlier, due to a slump in the global chipmaking business. The net profit for the world’s No. 2 memory chip producer came to 1.1 trillion won (US$952 million) in the January-March period, compared with a [...]