SEOUL, Nov. 26 (Korea Bizwire) — Hyundai Steel Co., South Korea’s No. 2 steelmaker, said Wednesday that its first liquefied natural gas (LNG)-powered ship made its maiden voyage for the overseas transport of raw materials. The eco-friendly ship, named HL Oceanic, is scheduled to transport 2 million tons of iron ore and coal per year [...]
SEOUL, Nov. 24 (Korea Bizwire) — POSCO Chemical Co., a unit of South Korean steel giant POSCO, said Wednesday it has completed the construction of a new refractory plant in the southern city of Pohang as part of its efforts to boost production of basic industrial materials. The 49.2 billion won (US$41.5 million) plant has [...]
SEOUL, Nov. 23 (Korea Bizwire) — POSCO International Corp., the trading arm of South Korean steel giant POSCO, said Tuesday it and a smaller domestic partner will supply half shafts for electric vehicles (EV) to Rivian Automotive Inc. POSCO International and Erae AMS have won the 145 billion won (US$122 million) order to supply the [...]
SEOUL, Nov. 19 (Korea Bizwire) — A South Korean-led consortium has won a 700 billion won (US$593 million) project to build a new airport in Peru by 2025, the transport ministry said Friday. Hyundai Engineering & Construction Co. (Hyundai E&C) leads the consortium that includes Mexico’s Grupo ICA, China’s Sinohydro Corp. Ltd. and Peru’s HV [...]
SEOUL, Nov. 18 (Korea Bizwire) — SKC Co., a chemical unit of South Korea’s No. 3 conglomerate SK Group, said Thursday it will spend 900 billion won (US$760.7 million) to build a battery copper foil factory in Poland, as part of efforts to expand its market presence in Europe. SKC and its battery copper foil-making [...]
SEOUL, Nov. 18 (Korea Bizwire) — Samsung Heavy Industries Co. said Thursday that it has successfully demonstrated its gas liquefaction technology to sharpen its competitive edge for orders of floating liquefied natural gas (FLNG) facilities. With the successful demonstration of the gas liquefaction technology named “SENSE IV,” Samsung Heavy will be better positioned to beat [...]
SEOUL, Nov. 18 (Korea Bizwire) — Global new orders for ships are predicted to slow down next year compared with this year due to a decrease in orders for container carriers, leading to a drop in new orders of South Korean shipbuilders, industry analysts have said. This year will see new orders for ships of [...]
SEOUL, Nov. 17 (Korea Bizwire) — The CEO of SK Geocentric Co. has met with top executives of waste solutions companies in the United States and Canada to boost cooperation on a multi-million dollar project to build a plastic waste reprocessing plant in South Korea. Na Kyung-soo met with CEO Daniel Solomita of Loop Industries, [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korea’s top steelmaker POSCO has announced plans to build a new plant to produce advanced electrical steel for motors of eco-friendly vehicles. At a board meeting held last week, the company resolved to invest about 1 trillion won (US$845 million) to build an electrical steel plant with an [...]
SEOUL, Nov. 16 (Korea Bizwire) — Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said Tuesday it has obtained a 207.8 billion won (US$176 million) railway project in Taiwan. Hyundai Rotem formed a consortium with Taiwan’s ST Engineering Electronic Ltd. to receive the deal from the Kaohsiung Mass Rapid Transit Bureau, [...]