SEOUL, Oct. 28 (Korea Bizwire) — SK Innovation Co., a South Korean battery maker, said Thursday it will develop and produce all-solid-state batteries with a U.S. firm, in a bid to expand its foothold in the next-generation battery market. Under the joint venture deal with Solid Power, a Colorado-based solid-state battery developer, SK Innovation will [...]
SEOUL, Oct. 28 (Korea Bizwire) — Samsung Engineering Co., an industrial plant affiliate of Samsung Group, said Wednesday it had succeeded in automating the production of steel frames using smart robots. Steel frames are the structures that prop up machines, equipment and pipes. They are completed through the fabrication of sub-materials such as plates and [...]
SEOUL, Oct. 27 (Korea Bizwire) — South Korean chemical company SK Chemicals Co. said Wednesday it will sell its polyphenylene sulfide (PPS) business to HDC Hyundai Engineering Plastics Co. amid deteriorating profitability. The transaction, valued at 38.5 billion won (US$32.8 million), will involve the sales of the whole PPS division and its production line in [...]
SEOUL, Oct. 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Wednesday it will build a battery separator production plant in Hungary with Japanese chemical giant Toray Industries Inc. as part of efforts to expand its presence in the European market. Under the 50:50 joint venture deal, the two companies will [...]
SEOUL, Oct. 27 (Korea Bizwire) — The chiefs of South Korean battery maker Samsung SDI Co. and global automaker Stallantis N.V. have met in Hungary, company officials said Wednesday, days after announcing a partnership to build an electric vehicle (EV) battery plant in the United States. The meeting between Samsung SDI CEO Jun Young-hyun and [...]
SEOUL, Oct. 27 (Korea Bizwire) — South Korean shipper HMM Co. said Tuesday it had introduced internet-of-things (IoT) technology for reefer (refrigerated) containers and will launch a pilot project for testing. Thus far, to provide temperature information on reefer containers to shippers, the company had to rely on its seafarers who needed to check the [...]
SEOUL, Oct. 26 (Korea Bizwire) — South Korean construction equipment maker Hyundai Doosan Infracore Co. said Tuesday it has won orders for 138 units of construction equipment from South America. Under a deal with Chilean wood maker Arauco, Hyundai Doosan Infracore will provide 60 excavators, the company said in an emailed statement. Another deal with [...]
SEOUL, Oct. 26 (Korea Bizwire) — South Korean shipbuilding industry is accelerating efforts to develop autonomous vessel systems. Amid expectations that the size of the autonomous ship market would reach 180 trillion won (US$153.8 billion) by 2025, the industry is speeding up technological commercialization aimed at securing an advantage in the promising market. Samsung Heavy [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Energy Solution Ltd. said Monday it has tapped Kwon Young-soo, vice chairman of LG Corp. as its new CEO, a move largely seen as a replacement in the wake of its battery recalls in General Motors Co.’s Bolt electric vehicles (EV). LG Energy said it named Kwon as [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday its third-quarter net profit rose 19.2 percent from a year earlier, backed by solid petrochemical sales despite the one-off factor from its electric battery (EV) recall costs. The net income came to 679.9 billion won (US$581.9 million) in the [...]