SEOUL, April 13 (Korea Bizwire) — Hyundai Engineering Co., a plant engineering affiliate of Hyundai Motor Group, said Tuesday it is pushing to go public in a move to further expand its presence in the global market. Hyundai Engineering sent requests for proposals to major securities firms at home and abroad Friday for its initial [...]
SEOUL, April 13 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. will supply battery cells for U.S. electric vehicle startup Rivian’s upcoming vehicles, the companies said Tuesday. RJ Scaringe of Rivian, backed by Amazon.com Inc. and Ford Motor Co., said in a statement Samsung SDI has been developing the battery cells for its [...]
SEOUL, April 13 (Korea Bizwire) — SK IE Technology Co. (SKIET), a battery material subsidiary under SK Innovation Co., said Tuesday its second battery separator factory in China started operations to step up its production capacity. SKIET said it opened its first overseas production line in the southeastern Chinese city of Changzhou in November and [...]
SEOUL, April 12 (Korea Bizwire) — South Korea’s leading steelmaker POSCO estimated Monday its first-quarter operating profit hit the highest point in 10 years on robust demand amid global economic recovery from the COVID-19 pandemic. Operating profit for the January-March quarter jumped to 1.55 trillion won (US$1.4 billion) from 705.3 billion won during the same [...]
SEOUL, April 12 (Korea Bizwire) — Shares of two Korean battery makers spiked Monday as they ended a two-year legal dispute over electric vehicle (EV) battery technology, which cleared uncertainty over their businesses. On Sunday, LG Chem-owned LG Energy Solution Ltd. and SK Innovation Co. reached a last-minute settlement in a bitter U.S. trade dispute, [...]
SEOUL, April 11 (Korea Bizwire) — Two Korean battery makers reached a long-awaited settlement on Sunday to resolve their bitter battery battle, clearing prolonged uncertainty in the face of toughening competition on multiple fronts amid the growing electric vehicle market. LG Energy Solution Ltd. and SK Innovation Co. said they have agreed to settle in [...]
SEOUL, April 11 (Korea Bizwire) — SK Innovation Co. agreed to pay 2 trillion won (US$1.78 billion) to settle an electric vehicle battery dispute with LG Energy Solution Ltd. and withdraw all their other pending litigations to end their two-year legal battle, the two companies said Sunday. The two Korean battery makers announced the results [...]
SEOUL, April 10 (Korea Bizwire) — Korea Shipbuilding & Offshore Engineering Co. (KSOE) is estimated to have posted weak earnings in the first quarter, affected by sluggish new orders clinched last year amid the pandemic, industry watchers said Saturday. The shipbuilder is forecast to have recorded 38 billion won (US$34 million) in net income in [...]
SEOUL, April 9 (Korea Bizwire) – LG Display Co., South Korea’s major display panel maker, is expected to rank fifth in this year’s global TV panel market, a report showed Friday, amid the growing dominance of Chinese brands. LG Display’s TV panel shipments are projected to reach 25 million units in 2021, up from 23.6 [...]
SEOUL, April 8 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. said Thursday that it has opened a center to control the shipbuilding process at its shipyards. The center at its Okpo shipyard on Geoje Island, 398 kilometers south of Seoul, is made up of two parts — the smart production management center and [...]