SEOUL, June 16 (Korea Bizwire) — South Korean battery maker SK On Co. and steel giant POSCO jointly announced on Wednesday that they had signed a memorandum of understanding to promote comprehensive cooperation in their burgeoning secondary battery business. The two parties plan to unite forces to explore joint projects throughout the entire value chain [...]
SEOUL, June 13 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Monday it will spend 730 billion won (US$567.8 million) on its domestic plant in South Korea to boost production of cylindrical battery cells used in electric vehicles. It will use 580 billion won of the earmarked amount to build a new production line [...]
SEOUL, June 10 (Korea Bizwire) — South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Friday it has signed a business partnership agreement with Greek shipper GasLog and the American Bureau of Shipping (ABS) to jointly develop an onboard carbon dioxide (CO2) capture and storage (OCCS) unit. Under the deal recently signed during [...]
SEOUL, June 10 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Friday that it has completed a 370 billion won (US$293 million) project to transform the No. 4 blast furnace into a smart and eco-friendly furnace. The steelmaker held a blow-in ceremony for the blast furnace earlier in the day after the 18-month work [...]
SEOUL, June 10 (Korea Bizwire) — Hyundai Engineering Co., a plant engineering affiliate of Hyundai Motor Group, has launched a new venture to build processing plants for strategic minerals such as rare earth elements. The company said Thursday it had signed a a front-end engineering and design (FEED) deal with Australia’s rare earth production firm [...]
SEOUL, June 9 (Korea Bizwire) — As China and Germany advanced in the electric vehicle (EV) and battery industry last year, the South Korean share of the global EV and battery export market dropped. The Federation of Korean Industries reported that China and Germany raised their share of the world’s battery-based electric vehicle (BEV) export [...]
SEOUL, June 8 (Korea Bizwire) — SKC Co. said Wednesday it is selling its polyester (PET) film business to a private equity fund for 1.6 trillion won (US$1.27 billion) as it seeks to bolster its drive for battery materials and other eco-friendly sectors. SKC said it signed the stock purchase agreement with Hahn & Company, [...]
SEOUL, June 7 (Korea Bizwire) — Hyundai Heavy Industries Group, the world’s biggest shipbuilder by sales, has joined hands with Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, to develop the world’s largest carbon dioxide carrier. The two parties announced on Monday that they had signed a joint development project agreement for a [...]
SEOUL, June 3 (Korea Bizwire) — SKC Co., a film and chemical materials company of South Korea’s conglomerate SK Group, has said it is considering selling its polyester (PET) film business in what could be an attempt to bolster its drive for battery materials and other eco-friendly sectors. The proposed selling of the PET film [...]
SEOUL, June 2 (Korea Bizwire) — LG Chem Ltd., a leading chemical company, said Thursday it is building a battery precursor plant in South Korea with a raw battery materials producer in an effort to secure a stable supply of key components for electric vehicle batteries. The joint venture agreement with Kemco, a nickel sulfate [...]