SEOUL, Oct. 13 (Korea Bizwire) — Output and exports of South Korea’s state industrial complexes rose in the first half of the year from the pre-pandemic period, but their employment shrank, data showed Wednesday. Combined production of the 44 industrial parks came to 258 trillion won (US$216 billion) in the January-June period, up 6.6 percent [...]
SEOUL, Oct. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday it will establish technical support facilities in the United States and Europe to improve customer care services in its main markets. LG Chem will invest around 120 billion won (US$103 million) to establish tech centers in Ohio, the United [...]
SEOUL, Oct. 8 (Korea Bizwire) — The proposed acquisition involving South Korea’s leading shipbuilders has been deadlocked for more than a year, as the European Union antitrust regulator shows no signs of resuming its probe into the deal. In 2019, Hyundai Heavy Industries Holdings Co., the holding company of the global shipbuilding conglomerate Hyundai Heavy [...]
SEOUL, Oct. 7 (Korea Bizwire) — Hyundai Mobis Co. said Thursday it will invest 1.3 trillion won (US$1.09 billion) to expand its fuel cell production facilities in line with its parent group’s future mobility plans. South Korea’s biggest auto parts maker will build two additional hydrogen fuel-cell plants — one for the manufacture of fuel-cell [...]
SEOUL, Oct. 6 (Korea Bizwire) — South Korea’s construction equipment maker Hyundai Doosan Infracore Co. said Wednesday it has signed deals to sell 44 excavators and 18 dump trucks in the Philippines. Under the deals with a construction company that has been building a water power station, Hyundai Doosan Infracore will deliver 39 excavators, which [...]
SEOUL, Oct. 4 (Korea Bizwire) – South Korean battery maker SK Innovation Co. said Monday that it plans to double the number of researchers to develop electric vehicles (EV) batteries from the current level by 2023. SK Innovation CEO and President Kim Jun made the announcement at a global forum in San Francisco on Saturday [...]
SEOUL, Oct. 3 (Korea Bizwire) — South Korean battery makers are estimated to have logged weaker-than-expected earnings in the third quarter amid a global shortage of automotive chips and recall of electric cars for battery fire risks, analysts said Sunday. Samsung SDI Co., the battery-making unit of Samsung Electronics Co., is believed to have posted [...]
SEOUL, Oct. 1 (Korea Bizwire) — SK Innovation Co. launched its battery business as a standalone company Friday to take a bigger chunk of the growing electric vehicle (EV) battery market. SK Innovation also hived off its oil exploration and production business to serve as a holding firm in charge of making major business decisions [...]
SEOUL, Oct. 1 (Korea Bizwire) — South Korea’s power plant builder Doosan Heavy Industries & Construction Co. is beefing up its competitiveness in 3D printing by completing the nation’s largest 3D printing fabrication facility. The company on Thursday held the completion ceremony for the 3D printing fab on a non-face-to-face format at its headquarters in [...]
SEOUL, Sept. 30 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Thursday it has broken ground on a 120 billion won (US$101 million) plant that will extract nickel and lithium, key materials for electric vehicle batteries. The plant by POSCO HY Clean Metal is capable of extracting nickel, lithium and cobalt from [...]