SEOUL, Jan. 10 (Korea Bizwire) — SK Geocentric Co., a chemical materials unit of South Korean conglomerate SK Group, said Monday it will build a plastic waste recycling factory in South Korea jointly with a U.S. startup as part of efforts to advance its green business. SK Geocentric said it signed an initial terms agreement [...]
SEOUL, Jan. 7 (Korea Bizwire) — Lotte Chemical Corp., the petrochemical unit of South Korean conglomerate Lotte Group, said Friday it is spending US$3.9 billion over the next three years to build a petrochemical complex in Indonesia. Lotte Chemical signed a preliminary deal with Indonesia’s Ministry of Investment on the Line project aimed at constructing [...]
SEOUL, Jan. 7 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Friday that it has started the construction of a plant in China that will produce galvanized steel sheets to be used in making cars. The plant in Tangshan in northern China’s Hebei Province, whose construction is to be completed by 2023, [...]
SEOUL, Jan. 7 (Korea Bizwire) — As global shipbuilding trends are shifting towards a focus on technology, including self-driving ships, Korean shipbuilders are opening a string of research and development (R&D) centers in Pangyo, a district in Seongnam, Gyeonggi Province. Pangyo is often cited as a Korean version of Silicon Valley. Shipbuilding conglomerate Hyundai Heavy [...]
SEOUL, Jan. 7 (Korea Bizwire) — Hyundai Engineering Co., a plant engineering affiliate of Hyundai Motor Group, is making forays into the high-purity hydrogen production business using ammonia, which is widely seen as a next-generation eco-friendly raw material. The company said Thursday that it had signed an investment agreement with local startup AAR to promote [...]
SEOUL, Jan. 7 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Thursday that it joined the Value Balancing Alliance (VBA), a global business alliance organized to promote the development of global ESG standards by measuring ESG performance in a currency value and reflecting this data in account books. ESG is short for environmental, social [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korean shipbuilders received the largest orders in eight years in 2021, and the country ranked the world’s No. 1 in terms of the construction of high value-added vessels, the industry ministry said Thursday. Local shipbuilders won new orders totaling 17.44 million compensated gross tons (CGTs) last year, more [...]
SEOUL, Jan. 6 (Korea Bizwire) — Hyundai Heavy Industries Group, the world’s biggest shipbuilder by sales, said Thursday it will operate the world’s first autonomous ship in the first quarter as it strives to secure new growth drivers. Hyundai Heavy introduced autonomous navigation technologies that will significantly help reduce the possibility of marine accidents, and [...]
SEOUL, Jan. 5 (Korea Bizwire) — Hyundai Heavy Industries Group, the world’s biggest shipbuilder by sales, said Wednesday it has signed a pact with a U.S. data analytics firm for the big data platform business. At the Consumer Electronics Show held in Las Vegas, the South Korean shipbuilder signed a memorandum of understanding (MOU) with [...]
SEOUL, Dec. 31 (Korea Bizwire) — Hyundai Electric & Energy Systems Co., an affiliate of Hyundai Heavy Industries Group, said Friday it has exported ultrahigh-voltage power transformers to Oman’s state utility provider in a deal valued at US$8.5 million. The supply deal with the Oman Electricity Transmission Co., included the sales of three 400-kilovolt/500-megavolt ampere [...]