SEOUL, Dec. 29 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading electric vehicle battery maker, will invest 475.4 billion won (US$400 million) in cathode materials plant, the trade ministry said Wednesday. LG Chem will set up LG Battery Core Material to produce 60,000 tons a year of cathode materials and create 187 jobs for [...]
SEOUL, Dec. 23 (Korea Bizwire) — SK Geocentric Co., a chemical affiliate of South Korea’s energy giant SK Innovation Co., announced Wednesday the commercial release of a biodegradable plastic that was developed jointly with Kolon Industries Inc., a textile and chemical materials maker. The two parties have been developing poly butylene adipate-co-terephthalate (PBAT) since last [...]
SEOUL, Dec. 22 (Korea Bizwire) — POSCO International Corp., the trading arm of South Korean steel giant POSCO, is set to build a plant in Mexico for the production of traction motor cores in its bid to gain a larger share of the fast-growing North American market. The company held a board meeting on Wednesday [...]
SEOUL, Dec. 22 (Korea Bizwire) — Hyundai Engineering Co., a plant engineering affiliate of Hyundai Motor Group, is making a foray into the high-purity clean hydrogen production business using waste plastics as resources, as part of efforts to diversify its business towards eco-friendly energy production. The company announced on Tuesday that it will step into [...]
SEOUL, Dec. 21 (Korea Bizwire) — Hanwha Solutions Corp., the chemical and energy unit of South Korea’s Hanwha Group, said Tuesday it is spending 338 billion won (US$283.3 million) to boost its production of caustic soda, a chemical material widely used in the process of making rechargeable batteries. The investment in its Yeosu factory on [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korean battery makers are jumping into recycling electric vehicle (EV) batteries as the prices of the metals used in the batteries are on the rise. LG Chem Ltd., South Korea’s largest chemical company, and its subsidiary LG Energy Solution Ltd. recently invested a combined 60 billion won (US$50 [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korean shipbuilding giant Hyundai Heavy Industries Group said Monday that it will showcase its latest and next-generation mobility technologies at the upcoming Consumer Electronics Show (CES), making its debut at the major tech trade show. The tech fair, better known as CES, is set to run for four [...]
SEOUL, Dec. 19 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s sixth-largest tiremaker by sales, said it resumed operations at its two plants in South Korea on Sunday, 26 days after a strike began over this year’s wage deal. The deal reached Friday includes a 6 percent increase in basic monthly pay, 5 [...]
SEOUL, Dec. 17 (Korea Bizwire) — Lotte Chemical Corp., a petrochemical unit of South Korean conglomerate Lotte Group, said Friday it will spend 250 billion won (US$211.4 million) to expand its domestic production line of ethylene oxide adduct (EOA), an advanced material used in concrete. The expansion of the production line in Daesan, a county [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korean steel giant POSCO said Thursday it plans to spend US$830 million on a lithium hydroxide plant in Argentina. Its board of directors approved a plan to establish the plant near the Salar del Hombre Muerto salt lake in northern Argentina, whose annual production capacity is at 25,000 [...]