SEOUL, April 8 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. said Thursday that it has obtained approval in principle (AIP) for its 70,000 cubic-meter liquefied CO2 (LCO2) carrier from ABS, a U.S. ship quality assurance and risk management company. AIP for the carrier means a certification agency has reviewed its basic design and [...]
SEOUL, April 7 (Korea Bizwire) — POSCO Chemical Co., a unit of South Korea’s steelmaker POSCO, said Thursday it has started the construction of a high-nickel cathode plant in the country to meet demand from electric vehicle companies. POSCO Chemical will invest 290 billion won (US$238 million) to build a 30,000-ton-a-year cathode plant in Pohang, [...]
SEOUL, April 6 (Korea Bizwire) — South Korean shipbuilders won half of new global ship orders in the first quarter of the year to take the top spot in the world, industry data showed Wednesday. Local shipyards, led by Hyundai Heavy Industries Co., clinched 4.57 million compensated gross tons (CGTs) in new orders in the [...]
SEOUL, March 31 (Korea Bizwire) — Lotte Chemical Corp. said Thursday it aims to generate 50 trillion won (US$41.3 billion) in sales by 2030 from hydrogen energy, battery materials and plastic recycling as it seeks to make inroads into green businesses amid the industrywide transition to sustainable growth. The ambitious goal unveiled by the petrochemical [...]
SEOUL, March 31 (Korea Bizwire) — SK On Co. is not considering an initial public offering (IPO) for at least another two to three years but will build up its competitiveness and enhance corporate value before pushing for a market debut, head of its parent company said Thursday. The potential listing of SK On has [...]
SEOUL, March 31 (Korea Bizwire) — Major builder Hyundai Engineering & Construction Co. is set to make a foray into the U.S. nuclear decommissioning business for the first time among South Korean companies. The company announced on Wednesday that it had signed a teaming agreement, including project management contract for the Indian Point nuclear plant [...]
SEOUL, March 30 (Korea Bizwire) — SK Lubricants Co., a unit under South Korean conglomerate SK Group, said Wednesday it has purchased a stake worth US$25 million in a U.S. immersion cooling system provider as part of its push for green business. The investment in Green Revolution Cooling (GRC), a Texas-based company, will help the [...]
SEOUL, March 29 (Korea Bizwire) — South Korean battery makers LG Energy Solution Ltd. and SK On Co. are stepping up to expand production facilities overseas. Samsung SDI, on the other hand, is still on a cautious lookout. Unlike the other two companies, Samsung SDI Co. has yet to unveil its current production capabilities and [...]
SEOUL, March 25 (Korea Bizwire) — POSCO Chemical Co., a unit under South Korean steel giant POSCO, said Friday it expects to be able to secure more than 90,000 tons of lithium through in-house supply, backed by the parent firm’s aggressive investment in the key material for rechargeable batteries. By 2024, POSCO Chemical will procure [...]
SEOUL, March 24 (Korea Bizwire) — South Korean steel giant POSCO said Thursday it has broken ground on a lithium hydroxide plant in Argentina. The US$830 million project calls for the establishment of the plant near the Salar del Hombre Muerto salt lake in northern Argentina, with an annual production capacity of 25,000 tons of [...]