SEOUL, Sept. 15 (Korea Bizwire) — Hyundai Heavy Industries Group said Wednesday it will push to win approval of its newly developed gas carriers from global ship quality assurance and risk management companies, such as Lloyd’s Register from Britain, and flag states in an upcoming exhibition. The world’s biggest shipbuilder plans to unveil gas carriers [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korean automaker Hyundai Motor Group and battery maker LG Energy Solution Ltd. said Wednesday they have begun construction of a new electric vehicle battery plant in Indonesia. A joint venture between Hyundai Motor and LG Energy broke ground for the $1.1 billion lithium-ion battery cell plant in an [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korea’s top power plant builder Doosan Heavy Industries & Construction Co. said Wednesday that it has signed a deal with Daewoo Shipbuilding & Marine Engineering Co. (DSME) to provide equipment for wind turbine installation vessels (WTIVs). Under the deal, Doosan Heavy plans to offer a total of 156 [...]
SEOUL, Sept. 14 (Korea Bizwire) — SK Materials Co., a semiconductor and display material unit under SK Group, said Tuesday it will team up with U.S.-based Group 14 Technologies to build a lithium-ion battery material factory in South Korea. SK Materials and Group 14 Technologies will launch a 75-25 joint venture later this month to [...]
SEOUL, Sept. 14 (Korea Bizwire) — South Korean shipbuilder Samsung Heavy Industries Co. said Tuesday it will close one of its Chinese plants due to decreased productivity caused by its superannuated facilities. Samsung Heavy has been in talks with the Chinese government to hand over the land and other assets by Samsung Heavy Industries Ningbo [...]
SEOUL, Sept. 14 (Korea Bizwire) — South Korea’s LG Chem Inc. said Tuesday it will collaborate with the American agricultural processor Archer Daniels Midland Co. (ADM) to build a bio-based plastic plant in the United States. LG Chem and ADM have agreed to establish a joint venture by early next year to build a manufacturing plant [...]
SEOUL, Sept. 13 (Korea Bizwire) — South Korean shipbuilder Samsung Heavy Industries Co. said Monday that it has been in talks with contractors to build liquefied natural gas (LNG) carriers to transport the LNG to be produced in northern Siberia of Russia. But “nothing has yet to be determined in the talks,” Samsung Heavy said [...]
SEOUL, Sept. 13 (Korea Bizwire) — LG Innotek Co., a major electronics parts maker in South Korea, said Monday it has developed an environmental friendly magnet that boasts enhanced magnetic strength. LG Innotek said the latest magnet, which it developed together with Sunglim Group Industry Co., reduces the use of heavy rare-earth (HRE) metals, a [...]
SEOUL, Sept. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s biggest chemical firm, said Sunday it will produce biodegradable plastics after joining hands with a smaller local chemical company in a move to expand its presence in the eco-friendly product market. Under the partnership with TK Chemical Corp., LG Chem will develop and produce [...]
SEOUL, Sept. 10 (Korea Bizwire) — South Korea’s top construction equipment maker Doosan Infracore Co. said Friday that its shareholders approved a scheme to reduce its capital stock to improve its financial health. Under the approval made in a preliminary shareholders meeting, the company plans to reduce its capital stock by 80 percent to some [...]