SEOUL, May 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading car battery maker, said Sunday it will invest 40 billion won (US$35 million) in a Chinese copper foil company for a stable supply of the core battery material. LG Chem will make the investment in a stake of Jiujiang DeFu Technology, China’s third-largest [...]
SEOUL, May 13 (Korea Bizwire) — South Korean power plant builder Doosan Heavy Industries & Construction Co. said Thursday that it has signed a deal with Korea Hydro & Nuclear Power Co. (KHNP) to cooperate on hydrogen-related business. Under the deal, Doosan Heavy and nuclear power plant operator KHNP will develop technologies to produce and [...]
SEOUL, May 13 (Korea Bizwire) — SK Innovation Co., South Korea’s refinery-to-battery company, said Thursday it continued to suffer losses in the first quarter despite its strong earnings from its petrochemical business as it reflected hefty settlement costs for a battery suit with its bigger rival LG Energy Solution Ltd. SK Innovation booked a net [...]
SEOUL, May 11 (Korea Bizwire) — SK hynix Inc., South Korea’s No. 2 chipmaker, said Monday that it created 4.88 trillion won (US$4.37 billion) worth of social value last year through environment, social and governance (ESG) management, up 36 percent from 3.58 trillion won a year ago. It made an indirect economic contribution of 5.37 [...]
SEOUL, May 10 (Korea Bizwire) — Construction equipment maker Doosan Infracore said Monday that it has rolled out a prototype of battery packs for construction equipment and agriculture machinery. The battery packs comprised of battery modules, battery management systems and cooling systems will enable Doosan Infracore to release 1.7-ton electric excavators by early next year, [...]
SEOUL, May 7 (Korea Bizwire) — As electric vehicle sales are growing in South Korea, one big issue coming in the foreseeable future is what to do with rechargeable batteries that outlive their useful life for a vehicle. Lithium-ion batteries, a key component that determines an EV’s driving range and performance, inevitably degrade with time [...]
SEOUL, May 6 (Korea Bizwire) — South Korea’s top power-equipment maker Doosan Heavy Industries & Construction Co. said Thursday that it has teamed up with a local company to produce hydrogen from waste plastic and vinyl as part of its efforts to diversify its business portfolio. Doosan Heavy said it will extract hydrogen from gas [...]
SEOUL, May 5 (Korea Bizwire) — Hanwha Total Petrochemical Co. said Wednesday that it has completed a 530 billion won project to boost production capacity of polypropylene and ethylene in South Korea. The company invested 380 billion won (US$337 million) in building a new polypropylene line with an annual capacity of 400,000 tons at the [...]
SEOUL, May 4 (Korea Bizwire) — Small-sized construction equipment maker Doosan Bobcat Inc. said Tuesday that it will spend 77 billion won (US$68.6 million) to expand one of its U.S. plants in a bid to meet growing demand. The plant located in Statesville, North Carolina, produces compact tractors and portable power stations, or compact battery-powered [...]
SEOUL, May 3 (Korea Bizwire) — Three South Korean electric vehicle (EV) battery makers accounted for 31 percent of the global market in the first quarter, but their share has slipped since last year in the face of toughening competition with Chinese rivals, a market research firm said Monday. The trio — LG Energy Solution [...]