SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s cement industry is increasing investment in eco-friendly areas, including the recycling of resources, to keep abreast with the global trend of pursuing carbon neutral policies. Sampyo Group, the parent of Sampyo Cement Co., announced on Monday that it will invest a total of 200 billion won (US$171 [...]
SEOUL, Aug. 25 (Korea Bizwire) — POSCO Chemical Co. said Wednesday that it will invest 281 billion won (US$241 million) to boost production capacity of cathodes and precursors in China in the first overseas project for key components for electric vehicle (EV) batteries. The decision by the unit of South Korean steel giant POSCO represents [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korea’s two largest display makers — Samsung Display Co. and LG Display Co. — on Tuesday said they will showcase their latest innovations at the country’s leading exhibition for display panels this week. The two companies will take part in the International Meeting on Information Display (IMID) 2021, [...]
SEOUL, Aug. 23 (Korea Bizwire) — Shares of South Korean chemical firm LG Chem Ltd. plunged more than 10 percent on the Seoul bourse Monday, following American automaker General Motors’ decision to additionally recall Bolt electric vehicles equipped with its subsidiary’s batteries over fire risks. Shares of LG Chem, which wholly owns battery maker LG [...]
SEOUL, Aug. 23 (Korea Bizwire) – Samsung Electro-Mechanics Co., a major electronics parts maker in South Korea, is seeking to sell its Wi-Fi module business again, a company official said Monday, after its previous deal collapsed in May. “We are in talks with a potential buyer over the sale of our Wi-Fi module business,” the [...]
SEOUL, Aug. 20 (Korea Bizwire) — Hyundai Heavy Industries Holdings Co. (HHIH), the world’s largest shipbuilding group, said Friday that it has completed the process to acquire South Korea’s top construction equipment maker Doosan Infracore Co. HHIH formed a consortium with KDB Investment Co., a private equity firm wholly owned by the state-run Korea Development [...]
SEOUL, Aug. 19 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Thursday it will invest 2.6 trillion won (US$2.2 billion) by 2028 to step up its domestic manufacturing capacity for eco-friendly materials. LG Chem said it will build 10 new chemical factories in Seosan, about 140 kilometers southwest of Seoul, to [...]
SEOUL, Aug. 19 (Korea Bizwire) — Samsung Heavy Industries Co. said Thursday that it has won approval in principle (AIP) for its basic design for LNG or diesel-powered oil tankers that can be revamped into ammonia-fueled ones from DNV, a Norwegian ship quality assurance and risk management company. The shipbuilder’s basic design will be helpful [...]
SEOUL, Aug. 18 (Korea Bizwire) — Posco magnesium alloy coating (PosMAC), a corrosion-resistant steel product produced by South Korea’s leading steelmaker POSCO, is set to gain wider access in the Chinese market. The China Engineering Construction Standardized Association recently certified the ternary alloy coated steel product with high corrosion resistance as a suitable material that [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korean construction machinery maker Hyundai Construction Equipment Co. on Tuesday said it will develop small-sized forklifts to be powered by hydrogen fuel cells. The subsidiary of Hyundai Genuine Co. will team up with S-Fuelcell Co., a local hydrogen fuel cell maker, to commercialize the 1-3 ton forklifts by [...]