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, [...]
SEOUL, Nov. 15 (Korea Bizwire) — Solus Advanced Materials Co., a South Korean battery foil maker, said Monday it has purchased a copper foil plant site in Canada as part of efforts to tap into the North American market. The company, formerly known as Doosan Solus, said in a regulatory filing that it acquired the [...]
SEOUL, Nov. 10 (Korea Bizwire) — Hanwha Solutions Corp., a chemical and energy unit of South Korean conglomerate Hanwha Group, said Wednesday it is considering selling off a part of its advanced materials business, excluding hydrogen tanks and electronics materials sectors. “We are considering a plan to sell part of the advanced materials businesses, except [...]
SEOUL, Nov. 10 (Korea Bizwire) — Hyundai Engineering & Construction Co., a major builder in South Korea, said Tuesday that it had developed an automatic monitoring system to manage the status of temporary structures and ground conditions at construction sites in real-time to prevent collapses. Currently, temporary structures at construction sites go through manual instrumentation [...]
SEOUL, Nov. 10 (Korea Bizwire) — POSCO Chemical Co., a unit of South Korean steel giant POSCO, said Wednesday it plans to acquire a 15 percent stake in a Chinese manufacturer of artificial graphite anode material as part of efforts to bolster its battery materials business. The decision, reached at a board meeting earlier in [...]
SEOUL, Nov. 10 (Korea Bizwire) — Hyundai Heavy Industries Holdings Co. (HHIH), the world’s largest shipbuilding group, said Wednesday it will launch a 34 billion-won (US$28.8 million) fund to support promising startups in the digital health care and bio industries. The fund will help the company advance into the digital health care market and seek [...]
SEOUL, Nov. 9 (Korea Bizwire) — South Korean shipbuilders regained the No. 1 ranking from their Chinese rivals in global new orders in October, bagging more than half of the global orders, industry data showed Tuesday. Local shipbuilders led by Hyundai Heavy Industries Co. won a combined 1.12 million compensated gross tons (CGTs) in new [...]
SEOUL, Nov. 9 (Korea Bizwire) — South Korea’s top steelmaker POSCO said Tuesday it was named the world’s most competitive steelmaker in a global industry report for the 12th consecutive year. In an annual assessment of 35 steelmakers worldwide, global steel information service provider World Steel Dynamics (WSD) gave POSCO the top mark of 8.54 [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korea’s biggest producer of urea water has lowered its output amid a growing shortage of urea, industry sources said Monday. Lotte Fine Chemical Co. has stopped part of the urea water solution production line at its factory in Ulsan, about 400 kilometers southeast of Seoul, since last week, [...]