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SK Innovation to Issue ‘Green Loan’ Worth US$1 bn for U.S. Battery Plant

SK Innovation to Issue ‘Green Loan’ Worth US$1 bn for U.S. Battery Plant

SEOUL, Jan. 6 (Korea Bizwire) – SK Innovation Co., a South Korean refinery-to-battery company, plans to issue a green bond worth 1.09 trillion won (US$1 billion) to expand its electric vehicle (EV) battery manufacturing capacity in the United States, officials said Wednesday. SK battery America Inc., the Korean firm’s U.S. subsidiary, will issue the green bond, [...]

S. Korean Shipyards Tipped to Take No. 1 Spot in New Orders in 2020

S. Korean Shipyards Tipped to Take No. 1 Spot in New Orders in 2020

SEOUL, Jan. 5 (Korea Bizwire) — South Korean shipbuilders are expected to take the top spot in new global shipbuilding orders for 2020 despite the fallout of the coronavirus pandemic, industry sources said Tuesday. Local shipyards’ new orders came to 7.98 million compensated gross tons (CGTs) as of Dec. 28 last year, ranking first worldwide, [...]

EV Battery Makers Set to Report Robust Q4 Results on Strong Demand

EV Battery Makers Set to Report Robust Q4 Results on Strong Demand

SEOUL, Jan. 3 (Korea Bizwire) — South Korea’s three electric vehicle (EV) battery makers are expected to report robust or improved fourth-quarter earnings results on growing demand for electrified vehicles, analysts said Sunday. LG Energy Solutions Ltd., SK Innovation Co. and Samsung SDI Co. likely performed well in the October-December period as carmakers are adding [...]

Cash-strapped Doosan Heavy Improves Financial Health via Self-rescue Plan

Cash-strapped Doosan Heavy Improves Financial Health via Self-rescue Plan

SEOUL, Dec. 31 (Korea Bizwire) — Cash-strapped Doosan Heavy Industries & Construction Co. has improved its financial health this year by selling new shares and assets and receiving financial help from its holding company Doosan Corp. and key shareholders, a local rating appraiser said Thursday. “Doosan Heavy has been improving its financial status and reducing [...]

LG Energy Solution Ranks Second in EV Battery Market in Jan.-Nov. Period

LG Energy Solution Ranks Second in EV Battery Market in Jan.-Nov. Period

SEOUL, Dec. 31 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. was the second-biggest supplier of electric vehicle (EV) batteries in the first 11 months of the year following China’s CATL, a market research firm said Thursday. LG Energy Solution, which spun off from LG Chem Ltd. earlier this month, shipped 26.4 [...]

S. Korea’s Top 3 Shipyards Fare Relatively Well Despite Pandemic

S. Korea’s Top 3 Shipyards Fare Relatively Well Despite Pandemic

SEOUL, Dec. 24 (Korea Bizwire) — Despite the fallout of the coronavirus pandemic, South Korea’s big three shipbuilders have fared relatively well this year as they clinch a majority of global orders for liquefied natural gas (LNG) ships and very large crude carriers (VLCCs), industry sources said Thursday The trio — Korea Shipbuilding & Offshore [...]

Hyundai Steel Develops New Gas Valve to Block Harmful Emissions

Hyundai Steel Develops New Gas Valve to Block Harmful Emissions

SEOUL, Dec. 23 (Korea Bizwire) — Hyundai Steel Co., South Korea’s No. 2 steelmaker, has developed the world’s first technology to fully block air pollutants emitted from blast furnaces, successfully introducing them to the actual steelmaking process. The company said Tuesday it had installed clean gas valves for furnace shutdowns or re-feeding hot blasts to [...]