SEOUL, Mar. 25 (Korea Bizwire) — South Korea’s major shipbuilders are planning to recruit new workers despite the ongoing belt-tightening mode on hopes that the industry is on track towards recovery, sources said Monday. Although they did not finalize the details on the new hiring, the major shipyards are considering recruiting a small number of [...]
SEOUL, Mar. 20 (Korea Bizwire) — SK Innovation Co. said Wednesday it has broken ground for an electric vehicle (EV) battery plant in the United States. South Korea’s top energy-chemical business group said in November it will invest 1.14 trillion won (US$1.01 billion) to build the 9.8 gigawatt-hour capacity battery plant in the city of [...]
SEOUL, Mar. 19 (Korea Bizwire) – South Korean brokerage houses have sharply downgraded their first-quarter earnings forecasts for Samsung Electronics Co. and SK hynix Inc., citing tumbling memory chip prices, a corporate tracker said Tuesday. The market consensus of Samsung’s operating profit for the January-March period stands at 8.33 trillion won (US$7.36 billion), down about 47 percent [...]
SEOUL, Mar. 15 (Korea Bizwire) — LG Chem Ltd.’s aggressive investment plan for its EV battery and petrochemicals business has drawn mixed responses from market watchers. Some analysts are concerned the investment push may come as a financial albatross to South Korea’s top chemicals and EV battery maker, while others are upbeat it will likely [...]
SEOUL, Mar. 8 (Korea Bizwire) — Hyundai Heavy Industries Co. on Friday signed a formal deal with the state-run Korea Development Bank (KDB) to buy its smaller local rival Daewoo Shipbuilding & Marine Engineering Co., heralding the world’s largest shipbuilding group with a some 20 percent market share. Hyundai Heavy became the sole bidder for [...]
SEOUL, Mar. 8 (Korea Bizwire) — South Korean tech giant Samsung Electronics Co. may relinquish its top semiconductor supplier’s rank to U.S. chipmaker Intel Corp. this year due to the cooling memory chip market, an industry report showed Friday. With 83 percent of Samsung’s semiconductor sales relying on memory devices, such as DRAM and NAND [...]
SEOUL, Mar. 5 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) announced on Monday that it had developed a design system for supporting ship sales using artificial intelligence (AI). According to DSME, a joint development of the system with an AI startup company called 42 Maru was launched to find appropriate answers and [...]
SEOUL, Mar. 4 (Korea Bizwire) — The ‘Roadmap for Stimulating the Hydrogen Economy’, announced by the South Korean government, is at the center of criticism for being unrealistic and based on false market analysis. By-product hydrogen, produced during petrochemical processing, is being seen as a new source of energy for eco-friendly vehicles. The volatile oil [...]
SEOUL, Mar. 4 (Korea Bizwire) — South Korean chip giants Samsung Electronics Co. and SK hynix Inc. retained their combined leading spot in the global semiconductor market in 2018, an industry tracker said Monday. Samsung’s sales of dynamic random-access memory (DRAM) chips came to US$43.75 billion last year, taking up 43.9 percent of the world [...]
SEOUL, Mar. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading electric vehicle (EV) battery maker, is considering a second plant in Europe to meet growing demand, industry sources said Monday. LG Chem already has an electric car battery production plant in Poland. In November, LG Chem decided to invest 651 billion won (US$577 [...]