SEOUL, July 25 (Korea Bizwire) – South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday it has won a 649.5 billion-won (US$495 million) order to build two liquefied natural gas (LNG) carriers from Europe. DSME, the world’s No. 4 shipbuilder by order backlog, said it will construct the 174-cubic-meter LNG carriers in [...]
SEOUL, July 24 (Korea Bizwire) — South Korean steel giant POSCO Group has put itself on an emergency management footing, its holding company said Sunday, as business units across the group brace for weaker profits amid an expected slowdown of the global economy. The decision came in a Thursday meeting of Chairman Choi Jeong-woo and [...]
SEOUL, July 22 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it has partnered with Ford Motor Co. and a domestic cathode firm to jointly invest in a cathode materials production facility in the United States. SK On said it it has recently signed a letter of intent with Ford and [...]
SEOUL, July 22 (Korea Bizwire) — LG Energy Solution, South Korea’s leading electric vehicle battery maker, said Friday it will supply more battery packs to Ford Motor Co. as the U.S. carmaker ramps up its global production of electric vehicles. LG Energy Solution will initially double the battery production line allotted for Ford Motor at [...]
SEOUL, July 22 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, is making forays into the sustainable materials market through the export of its first bio-based phenol and acetone. The company announced on Thursday that it will export its first phenol and acetone products made of biomaterials such as waste vegetable oil. [...]
SEOUL, July 21 (Korea Bizwire) — POSCO Holdings Inc., the holding company of South Korea’s top steelmaker, said Thursday its second-quarter net profit almost stayed flat from a year earlier amid soaring material prices and robust performance at its non-steelmaking affiliates. Its net profit stood at 1.8 trillion won (US$1.38 billion) on a consolidated basis [...]
SEOUL, July 14 (Korea Bizwire) — SK On Co.’s electric vehicle (EV) battery joint venture with Ford Motor Co. in the United States has formally set sail, the South Korean battery maker said Thursday, paving the way for SK’s new battery unit to accelerate its overseas push amid burgeoning EV demand. The official launch of [...]
SEOUL, July 8 (Korea Bizwire) — SKC Co., a chemical unit of South Korea’s No. 2 conglomerate, SK Group, has begun the construction of a battery copper foil factory in Poland, in what will be its largest such production facility as it bolsters the electric vehicle (EV) battery component business. SKC and its wholly owned [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s leading chemicals maker LG Chem Ltd. said Friday it has issued global green bonds worth US$300 million to help bolster the competitiveness of its battery materials business and finance more investments in eco-friendly businesses. The parent company of major battery maker LG Energy Solution Ltd. said the [...]
SEOUL, July 7 (Korea Bizwire) — POSCO International Corp., a unit of South Korean steel giant POSCO Holdings Inc., said Thursday it has begun the construction of an electric vehicle (EV) parts plant in Mexico as it pushes to expand its EV-related business. The driving motor core-producing plant in Ramos Arizpe in the state of [...]