SEOUL, June 29 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) has decided to reconsider its 1.7 trillion-won (US$1.31 billion) plan to build a new battery plant in the U.S. state of Arizona, as global inflation and a sharp fall of the Korean currency are expected to incur greater costs, company officials said Wednesday. “We [...]
SEOUL, June 28 (Korea Bizwire) — South Korea’s construction equipment maker Hyundai Doosan Infracore Co. has launched a drive to develop a hydrogen combustion engine for use in commercial vehicles, buses and construction machinery. The company announced that it was selected as the lead agency for the development of hydrogen engine systems and storage and [...]
SEOUL, June 27 (Korea Bizwire) — Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has received a 745 billion won (US$573 million) patrol vessel order from the Philippines. Under the deal signed in Manila, Korea Shipbuilding will build six 2,400-ton offshore patrol ships for the Philippine Navy by 2028, the company said in [...]
SEOUL, June 26 (Korea Bizwire) — LG Electronics Co. said Sunday it has acquired a domestic EV charging maker to advance into the EV charging solutions business amid a global electrification push. LG Electronics recently acquired a 60 percent stake in AppleMango Co. for an unspecified amount, with GS Energy Corp. and GS Neotek taking [...]
SEOUL, June 24 (Korea Bizwire) — Korea Shipbuilding & Offshore Engineering Co. said Thursday that it and its affiliate Hyundai Heavy Industries Co. have received approval in principle from Norwegian-German ship quality assurance society DNV and Britain’s Lloyd’s Register for their new liquefied natural gas (LNG) fuel supply system. The newly-developed system, dubbed Hi-eGAS (Hyundai [...]
SEOUL, June 23 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said it has launched a talent cultivation program in collaboration with Brazilian mining giant Vale SA. Under this program, the two companies agreed to offer support to young students from low-income households in South Korea and Brazil. On Wednesday, POSCO donated US$100,000 to Korea [...]
SEOUL, June 22 (Korea Bizwire) — South Korean shipyard Samsung Heavy Industries Co. said Wednesday it has clinched a 3.9 trillion-won (US$3 billion) order to build 14 liquefied natural gas (LNG) carriers in the Bermudas and Africa. Samsung Heavy said it will construct 12 174,000-cubic-meter LNG carriers worth 3.33 trillion won for an unidentified Bermudan [...]
SEOUL, June 21 (Korea Bizwire) — Hanwha Solutions Corp., a chemical and energy unit of South Korean conglomerate Hanwha Group, said Tuesday it has won a deal to provide hydrogen tanks to global energy firm Shell PLC in the United States. Hanwha Cimarron, its wholly-owned U.S. subsidiary, will be supplying the Neptune hydrogen tanks, as [...]
SEOUL, June 20 (Korea Bizwire) — Lotte Chemical Corp. said Monday it is pushing to build an electrolyte solvent factory overseas with a U.S.-based chemical company as it seeks to bolster its battery components business. It signed an agreement with Sasol Chemicals LLC, the American unit of South African petrochemical firm, Sasol Ltd., last week [...]
SEOUL, June 20 (Korea Bizwire) — LG Chem Ltd. said Monday it is building a hydrogen plant in South Korea to produce clean fuel for use in its key petrochemical processing in line with its long-term low carbon emission goals. The hydrogen plant, to be located in its Daesan complex, about 75 kilometers southwest of [...]