SEOUL, July 18 (Korea Bizwire) — POSCO Holdings Inc. on Tuesday reported that its second-quarter operating profit had narrowly exceeded expectations due to “normalized” sales and higher product prices. Its consolidated operating income came to 1.3 trillion won (US$1 billion) for the April-June period, down 38.1 percent from a year earlier, South Korea’s top steelmaker [...]
SEOUL, July 13 (Korea Bizwire) — South Korea’s steelmaking giant POSCO Holdings Inc. said Thursday it is aiming to achieve combined sales of 100 trillion won (US$78.4 billion) by boosting the competitiveness of its core steel business and focusing on future growth sectors. Unveiling its long-term growth vision at its headquarters in the southeastern port [...]
SEOUL, July 13 (Korea Bizwire) — Construction machinery manufacturer HD Hyundai Infracore Co. said Wednesday it has developed a mobile app utilizing augmented reality (AR) technology to assist in the diagnosis and repair of construction machines and equipment. The AR Guidance app integrates AR technology with 3D modeling data and data collected from component sensors [...]
SEOUL, July 4 (Korea Bizwire) — Lotte Energy Materials Corp. aims to boost its global market share in high-end copper foil manufacturing to 30 percent over the next five years, with a push to expand its presence in Europe and North America, its CEO said Tuesday. The new copper foil unit under South Korea’s Lotte [...]
SEOUL, July 3 (Korea Bizwire) — POSCO Holdings Inc. said Monday it will invest 121 trillion won (US$92 billion) by 2030 in an effort to boost its competitive edge in steelmaking and new growth engines. South Korea’s leading steelmaker said 73 trillion won — more than 60 percent of the total — will be used [...]
SEJONG, June 30 (Korea Bizwire) — South Korea’s forklift exports jumped nearly 57 percent on-year in the first five months of 2023, data showed Friday, following a rebound in the global construction industry. Exports of forklifts reached US$525 million from January to May this year, reaching a record-high amount for the period, according to the [...]
SEOUL, June 29 (Korea Bizwire) — Hanwha TotalEnergies Petrochemical Co. said Thursday it has completed the construction of a pilot line to produce a high functional copolymer used in industrial components like car parts and wire coating. The pilot facility, located in Daesan, about 83 kilometers south of Seoul, will produce polyolefin elastomers (POE) and [...]
SEOUL, June 27 (Korea Bizwire) — South Korean electrical equipment maker HD Hyundai Electric & Energy Systems Co. said Tuesday it has clinched two orders to supply eco-friendly power transformers and other equipment from the United States and Denmark. HD Hyundai Electric said that its U.S. subsidiary, Hyundai Electric America Corp., had signed a 213.6 [...]
SEOUL, June 25 (Korea Bizwire) – Hyundai Engineering & Construction Co. has signed an agreement with Saudi Arabia’s state oil company Aramco to build a mega petrochemical plant in the east of the Middle Eastern country, Seoul’s land ministry said Sunday. The US$5 billion Amiral project aims to establish a facility to manufacture basic petrochemical [...]
SEOUL, May 25 (Korea Bizwire) — South Korea’s top steelmaker POSCO Holdings Inc. said Thursday it has dedicated a “giga steel” processing plant in eastern China in a bid to meet future demand for the steel product. The plant, located at its Chinese processing center in Suzhou in Jiangsu province, is aimed at preempting the [...]