SEOUL, June 16 (Korea Bizwire) — SK Geocentric Co., a chemical unit under South Korea’s SK Group, said Thursday it has signed an initial deal with France’s Suez S.A. and a Canadian partner to build a joint plastic waste recycling plant in the European country. The agreement with the French water management company and Loop [...]
SEOUL, June 16 (Korea Bizwire) — Taihan Cable & Solution Co., a major cable maker in South Korea, said Thursday that it has signed a deal to set up a US$80-million joint venture in Saudi Arabia to produce high-voltage power cables. Under the deal with Mohammed Al-Ojaimi Group, Taihan Cable & Solution will set up [...]
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 [...]