SEOUL, Apr. 5 (Korea Bizwire) — Samsung Electronics Co. said Friday its operating earnings likely plunged in the first quarter from a year earlier amid falling memory chip prices and weak demand for display panels. The operating profit was estimated at 6.2 trillion won (US$5.45 billion) in the January-March period, a 60.4 percent drop from [...]
SEOUL, Apr. 4 (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, industry data showed Thursday. According to the data by SNE Research, a market researcher on renewable energy, SK Innovation, also the country’s leading oil refiner, [...]
SEOUL, Apr. 2 (Korea Bizwire) — SK Innovation Co., a major electric vehicle (EV) battery maker, has signed a deal to secure a key material used for high-capacity EV batteries, industry sources said Tuesday. According to the sources, SK Innovation has signed the deal to secure lithium hydroxide from Tianqi Lithium Kwinana (TLK), in Australia, [...]
SEOUL, Apr. 2 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemicals maker, said Tuesday that it has acquired a key technology and related assets from global high-tech chemical firm DuPont for next-generation soluble organic light-emitting diodes (OLEDs). Under the deal, LG Chem acquired DuPont’s technologies and patents for soluble OLEDs as well as [...]
SEOUL, Apr. 1 (Korea Bizwire) — The party is over for South Korean memory chip makers after a two-year boom, and deep-pocketed industry leaders are now looking to the future to find the new growth drivers in the non-memory chip business. Samsung Electronics Co. and SK hynix Inc., the world’s two largest memory chip makers, [...]
SEOUL, Apr. 1 (Korea Bizwire) — Hyundai Steel Co., South Korea’s No. 2 steelmaker, said Monday that it plans to cut its environmentally harmful emissions by over 50 percent from the current level. Hyundai Steel said it aims to spend some 530 billion won (US$468 million) to address concerns over fine dust and other harmful [...]
SEOUL, Apr. 1 (Korea Bizwire) — Hyundai Construction & Equipment Co., the country’s No. 2 construction equipment maker, said Monday that it will sell its first unmanned forklift this month that can help customers cut costs and boost work efficiency. The autonomous forklift, with remote control functions, comes with several features, such as route selection [...]
SEOUL, Mar. 28 (Korea Bizwire) — SK hynix Inc., South Korea’s No. 2 chipmaker, on Thursday unveiled a 1.2 trillion-won (US$1.05 billion) support plan for subcontracting firms and their R&D projects as it won approval for its plan to build a semiconductor cluster in the Seoul metropolitan area. Under the project, valued at 120 trillion [...]
SEOUL, Mar. 27 (Korea Bizwire) — SK Innovation Co., South Korea’s largest refiner by sales, said Wednesday that it will invest 430 billion won (US$380 million) to build a lithium-ion battery separator (LiBS) plant in Poland, in a bid to meet growing demand for electric vehicle batteries. The company, also a major EV battery maker, [...]
SEOUL, Mar. 27 (Korea Bizwire) — SK hynix Inc., South Korea’s No. 2 chipmaker, on Wednesday won approval for its plan to build a semiconductor cluster in the Seoul metropolitan area as the government decided to lift development regulations in the region. The update on the project, valued at 120 trillion won (US$136 billion) came [...]