SEOUL, June 24 (Korea Bizwire) — Samsung Engineering Co., an industrial plant affiliate of Samsung Group, said Wednesday that it had succeeded in producing pipes through smart robot automation. The company revealed that it succeeded in automating the ‘cutting-improvement-welding’ process for frequently used carbon steel pipe spools with a diameter of 4 to 12 inches. [...]
SEOUL, June 22 (Korea Bizwire) — French automotive parts maker Valeo and three other foreign firms have submitted preliminary bids for a controlling stake in automotive thermal management systems and automotive parts maker Hanon Systems, while local players have decided against the move, sources said Tuesday. Valeo, a key rival of Hanon Systems, and German [...]
SEOUL, June 21 (Korea Bizwire) — LG Electronics Inc. and Canadian auto parts maker Magna International Inc. are in the final phase of launching their electric vehicle (EV) powertrain joint venture next month, industry insiders here said Monday, as they review board member appointment plans for the new company. The South Korean tech giant is [...]
SEOUL, June 17 (Korea Bizwire) — South Korea’s leading steelmaker POSCO is likely to post a record operating income for the second quarter of the year on a recovery in global demand, according to market forecasts Thursday. Eight local brokerages’ median estimate for POSCO’s operating profit stands at 1.93 trillion won (US$1.73 billion) for the [...]
SEOUL, June 16 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Wednesday it will develop cybersecurity technologies for remote autonomous ships and smart ships. To that end, the shipbuilder will team up with local cybersecurity companies, including maritime cybersecurity startup DSLAP Company, and Korea University by 2022, it said. The project was [...]
SEOUL, June 15 (Korea Bizwire) — Hyundai Oilbank Co., a major South Korean oil refiner, is set to expand its blue hydrogen business by establishing infrastructure for the collection and reuse of the entire amount of carbons generated during the hydrogen production process. Blue hydrogen features lower carbon emissions by capturing and storing carbon dioxide [...]
SEOUL, June 14 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday that it has signed a 1.9 trillion won (US$ 1.7 billion) deal to build a hull of an offshore facility. The deal is part of a total 2.6 trillion won project to construct a floating production, storage and offloading vessel [...]
SEOUL, June 14 (Korea Bizwire) — SK global chemical Co., an affiliate of South Korea’s top refiner SK Innovation Co., will develop a new material for future cars in collaboration with the Korea Smart E-Mobility Association (KEMA). The firm recently signed a deal with the KEMA to promote cooperation in the development of new materials [...]
SEOUL, June 10 (Korea Bizwire) — Kolon Industries Inc., a textile and chemical materials maker, announced on Wednesday that it had applied for a patent for an eco-friendly adhesive resin developed using wood byproducts, a first in South Korea. The company developed the eco-friendly lignin resin using a high molecular chemical compound lignin that is [...]
SEOUL, June 9 (Korea Bizwire) — Samsung Heavy Industries Co. said Wednesday that it has teamed up with a local nuclear research institute to develop nuclear-powered ships. Under the cooperation with the Korea Atomic Energy Research Institute (KAERI), Samsung Heavy plans to develop molten salt reactors, a kind of small module reactor using molten fluoride [...]