SEOUL, Dec. 1 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, is planning to transform into a holding company by splitting it into two business entities, industry sources said Wednesday. After the breakup, the steelmaking group’s holding company will be focused on charting out future business, research and development, and investment, according to the sources. [...]
ULSAN, Dec. 1 (Korea Bizwire) — Global shipbuilding conglomerate Hyundai Heavy Industries Group made the first demonstration of the artificial intelligence (AI)-based vessel fire surveillance system that it developed using in-house technologies, after installing it on an liquefied natural gas (LNG) carrier on Tuesday. The system is a safety solution using AI to detect and [...]
SEOUL, Nov. 30 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. has received preliminary approval for listing on the country’s main stock market, the main bourse operator said Tuesday, taking one step closer to its much-anticipated market debut. The approval by the Korea Exchange (KRX), the country’s main bourse operator, came as [...]
SEOUL, Nov. 30 (Korea Bizwire) — SK Inc., the holding company of South Korean conglomerate SK Group, said Tuesday it has completed the merger with its advanced materials arm to further expand its foothold in such areas as semiconductor and battery materials. SK announced the plan in August to absorb SK Materials Co. in an [...]
SEOUL, Nov. 30 (Korea Bizwire) — SK On, the new battery spinoff of SK Innovation Co., has launched a pilot project to churn out eco-friendly energy storage system (ESS) using the batteries collected from scrapped electric vehicle batteries. The company said Monday that it had signed a business agreement with the state-run Korea Electrical Safety [...]
SEOUL, Nov. 29 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday it has launched a virtual center to train ship painters. The shipbuilder said the virtual training center will give painters the same experience as actual workplaces and will reduce costs. In addition to the heavy costs and time required to [...]
SEOUL, Nov. 29 (Korea Bizwire) — Samsung Heavy Industries Co. said Monday it has signed a deal with Microsoft Korea to cooperate on the digitalization of its shipyard. Samsung Heavy said it plans to build up a collaboration system among each shipbuilding sector in its shipyard by using cloud computing service Azure, artificial intelligence, group [...]
SEOUL, Nov. 26 (Korea Bizwire) — Construction machinery maker Hyundai Construction Equipment said Friday it has obtained orders for 534 units of construction equipment from Russia this month. The deals with unidentified Russian miners and builders include orders for 510 excavators, 15 wheel loaders and nine skid-steer loaders, Hyundai Construction Equipment said in an emailed [...]
SEOUL, Nov. 26 (Korea Bizwire) — New orders for ships won by South Korea’s midsized shipbuilders more than doubled in the first 10 months of the year from a year earlier after finalizing their sale deals, industry data showed. The three midsized shipbuilders — Hanjin Heavy Industries & Construction Co., STX Offshore & Shipbuilding Co. [...]
POHANG, Nov. 26 (Korea Bizwire) — POSCO unveiled a plan to set up infrastructure for the supply of hydrogen in Pohang, North Gyeongsang Province where its steel mill is located, as well as to shift the transport of steel products from diesel trucks to hydrogen vehicles. The South Korean steel giant on Wednesday signed a [...]