SEOUL, April 28 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Wednesday its first-quarter net profit rose to the highest level ever on strong electric vehicle (EV) battery sales, vowing to step up investment in the battery and related materials to further propel growth. LG Chem’s net profit came to 1.4 [...]
SEOUL, April 28 (Korea Bizwire) — LG Display Co., a major display panel maker in South Korea, said Wednesday it shifted to the black in the first three months of the year, on the back of increased demand for its panels used in IT products and TVs amid the pandemic-induced stay-at-home trend. LG Display reported [...]
SEOUL, April 27 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Tuesday its first-quarter earnings jumped on a low base effect and solid demand for electric vehicle (EV) battery products. Its net profit reached 150 billion won (US$135 million) in the January-March period, up from 729 million won a year earlier, as [...]
SEOUL, April 27 (Korea Bizwire) — South Korean refiners’ exports fell to the lowest level in 10 years in the first quarter of the year as global oil demand remained low amid the prolonged COVID-19 pandemic, industry data showed Tuesday. Oil and petrochemical products shipped by SK Innovation Co., GS-Caltex Co., S-Oil Corp., Hyundai Oilbank [...]
SEOUL, April 26 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Monday that its first-quarter net profit soared 162 percent from a year earlier on robust demand amid the global economic recovery from the COVID-19 pandemic. Net profit for the three months that ended in March soared to 1.13 trillion won (US$1.02 [...]
SEOUL, April 25 (Korea Bizwire) — SK Innovation Co., South Korea’s refinery-to-battery maker, is back in the driver’s seat to propel its electric vehicle battery business with stake sales and a planned listing of its subsidiary as its recent settlement with LG Energy Solution Ltd. cleared prolonged business uncertainties. The subsidiary of the nation’s No. [...]
SEOUL, April 22 (Korea Bizwire) — SK IE Technology Co. (SKIET), a battery materials subsidiary of SK Innovation Co., said Thursday it will make its debut on the Seoul bourse in mid-May, in what could be one of the biggest initial public offerings (IPOs) of this year. SKIET, which makes lithium-ion battery separators, said it [...]
SEOUL, April 22 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s seventh-largest tiremaker by sales, said Thursday it began to supply tires for the Porsche 718 Boxter this year. Hankook Tire has provided the high-performance Ventus S1 evo 3 tires for the sports car since early this year, the company said in a [...]
SEOUL, April 22 (Korea Bizwire) — South Korea’s steel giant POSCO said Wednesday that it had developed a Smart Safety Ball, a smart device designed to prevent accidents in enclosed workplaces, for the first time in the world. The device enables users to sense in advance whether harmful gases exist in enclosed spaces. Before work [...]
SEOUL, April 21 (Korea Bizwire) — Kumho Mitsui Chemicals Inc. said Wednesday it will invest about 400 billion won (US$358.1 million) to expand its chemical manufacturing factory in South Korea’s southwestern region. The joint venture between Korean synthetic rubber maker Kumho Petrochemical and Mitsui Chemicals of Japan said its shareholders approved the investment plan to [...]