SEOUL, July 5 (Korea Bizwire) — South Korean auto parts maker Mando Corp. said Monday it has received an “A” environmental, social and governance (ESG) rating form global index provider Morgan Stanley Capital International (MSCI) for its environmentally friendly growth value. Mando said the company is the first among South Korean auto and auto parts [...]
SEOUL, July 4 (Korea Bizwire) — Samsung SDI Co.’s electric vehicle (EV) battery business is expected to have turned to operating profit for the first time in the second quarter on strong demand by global automakers, analysts said Sunday. Samsung SDI Co., the battery arm of Samsung Electronics Co., was forecast to have posted 3.4 [...]
SEOUL, July 2 (Korea Bizwire) — South Korea’s leading shipbuilder Samsung Heavy Industries Co. said Thursday that it had developed the world’s first fuel cell-powered liquefied natural gas (LNG) carrier that can operate without engines. The company said that in collaboration with U.S.-based Bloom Energy, it developed a solid oxide fuel cell (SOFC)-powered LNG carrier [...]
SEOUL, July 1 (Korea Bizwire) — SK Innovation Co. said Thursday it will invest 30 trillion won (US$26.5 billion) over the next five years to transition from a carbon-intensive model to green business and is considering splitting its battery business as a way to raise funds needed to further foster the new growth driver. The [...]
SEOUL, June 30 (Korea Bizwire) – Three South Korean electric vehicle (EV) battery makers accounted for a third of the global market in the first five months of the year, but their share has slightly slipped since last year in the face of toughening competition with Chinese rivals, a market research firm said Wednesday. The [...]
SEOUL, June 29 (Korea Bizwire) — SK Chemicals Co., the chemical and pharmaceutical arm of SK Group, announced on Monday it will produce chemical-recycled polyester yarn for the first time in South Korea together with Huvis Corp., a local chemicals and fiber materials company. By leveraging their respective strengths in polyester and yarn manufacturing technologies, [...]
SEOUL, June 25 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Friday it has signed a deal with HBIS Group, China’s second-biggest steelmaker, to set up a US$600 million joint venture in China. Under the deal signed online between POSCO Chairman Choi Jeong-woo and Wang Lanyu, general manager of HBIS Group, the [...]
SEOUL, June 25 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) will develop an energy storage system (ESS) for ships in cooperation with a group comprising a local company and research institutes, the shipbuilder said Friday. Within the next three years, the group plans to develop a lithium battery-based ESS that will be [...]
SEOUL, June 25 (Korea Bizwire) — CJ Cheiljedang Corp., South Korea’s leading food manufacturer, is moving aggressively to expand its ‘white biotechnology’ ventures. White biotechnology refers to replacing the main raw materials of the chemical industry with biomaterials using renewable resources or biological agents such as microorganisms and enzymes. The company recently signed a memorandum [...]
SEOUL, June 24 (Korea Bizwire) — Kolon Industries Inc., South Korea’s top textile and chemical materials maker, said Thursday it will invest some 240 billion won (US$212 million) to double the capacity of its domestic aramid factory. The company said it plans to increase the annual capacity of the plant in Gumi, about 260 kilometers [...]