SEOUL, Jan. 28 (Korea Bizwire) — SK Innovation Co., the energy and chemical affiliate of South Korean conglomerate SK Group, said Friday it swung to the black in the fourth quarter from a year earlier on strong petrochemical demand and electric vehicle (EV) battery sales. Net income came to 163.4 billion won (US$135.7 million) in [...]
SEOUL, Jan. 28 (Korea Bizwire) — Shareholders of POSCO, South Korea’s top steelmaker, said Friday that the company will create a holding company following the approval of its plan to transform into a holding company by splitting it into two business entities. After the breakup, the steelmaking group’s holding company, tentatively named POSCO Holdings Inc., [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Thursday its net profit rose 14.6 percent in the fourth quarter from a year earlier, backed by solid growth in EV battery sales. Net income came to 391.6 billion won (US$325.6 million) in the October-December period, compared with a profit of [...]
SEOUL, Jan. 27 (Korea Bizwire) — SKC Co., a chemical unit of South Korean conglomerate SK Group, is accelerating its production of next-generation silicon anode material, which can contribute to greatly improving the performance of rechargeable batteries. After recently completing an investment in British battery materials maker Nexeon, SKC said Wednesday it will set up [...]
SEOUL, Jan. 27 (Korea Bizwire) — Hyundai Steel Co., South Korea’s No. 2 steelmaker, said Wednesday it had developed a premium 1.5GPa martensitic (MS) steel plate to be used for eco-friendly vehicles. The premium 1.5GPa MS steel plate is flatter and has a higher crack resistance than any other in the same product category. Thanks [...]
SEOUL, Jan. 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) and General Motors Co. unveiled a US$2.6 billion plan Wednesday to build a new electric vehicle (EV) battery plant in the United States in their latest move to gain an edge in the global EV market. The factory by Ultium Cells LLC, their U.S.-based [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korean chemical company SK Chemicals Co. said it has ramped up its production of chemically-recycled (CR) PET for the food container market. CR PET is made using chemical recycling technology that depolymerizes waste PET bottles to revert them to a raw material state and then uses the raw [...]
SEOUL, Jan. 26 (Korea Bizwire) — Samsung Heavy Industries Co. said Tuesday it has won approval in principle (AIP) from the Korean Register of Shipping (KR), a South Korean ship quality assurance and risk management company, for its newly-developed ‘on-board carbon capture system’ that can be used on liquefied natural gas (LNG)-powered ships. The carbon [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Tuesday it will together spend US$2.1 billion with U.S. General Motors Co. to build another electric vehicle (EV) battery factory in America. LGES and GM are expected to chip in half of the amount each through their U.S.-based joint [...]
SEOUL, Jan. 24 (Korea Bizwire) — Doosan Heavy Industries & Construction Co., a South Korean plant builder, said Monday its German subsidiary has received a 160 billion-won (US$134 million) order for a waste processing plant in Germany. Doosan Lentjes obtained the order from MHKW Wiesbaden GmbH to build a waste-to-energy plant in Wiesbaden, Germany, by [...]