SEOUL, March 3 (Korea Bizwire) — Hyundai Heavy Industries Holdings Co. (HHIH) said Wednesday that it has signed a deal with Saudi Arabia’s state-run oil firm Saudi Aramco to cooperate on a hydrogen project. Under the deal, Hyundai Oilbank Co., HHIH’s refining unit, will import liquefied petroleum gas (LPG) from Saudi Aramco to produce blue [...]
SEOUL, March 2 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. was the No. 2 supplier of electric vehicle (EV) batteries in the world in January after China’s CATL, a market research firm said Tuesday. LG Energy Solution, which spun off from LG Chem Ltd. in December last year, shipped 2.5 gigawatt-hour [...]
SEOUL, March 1 (Korea Bizwire) — Vowing for carbon neutrality by 2050, the steel industry is scrambling to develop hydrogen reduction iron and steel production technology. POSCO, the world’s fifth-largest steelmaker by output, recently joined hands with Hyundai Motor Group to develop steel production technology that uses hydrogen instead of coal to produce iron. The [...]
ULSAN, Feb. 26 (Korea Bizwire) — South Korean shipbuilder Hyundai Heavy Industries Co. said Thursday that it had developed a ship that prevents the spread of pandemics such as the coronavirus. The new vessel comes with an airborne infection isolation room and a ventilation system that fulfills the guidelines set by the Korea Disease Control [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korean battery makers are facing uncertainty over their businesses on safety issues and legal disputes amid an intensifying competition for the booming market as automakers rush to go all electric. Three manufacturers — LG Energy Solution Ltd., Samsung SDI Co. and SK Innovation Co. — are well-positioned suppliers [...]
SEOUL, Feb. 24 (Korea Bizwire) — South Korean steelmakers are rushing to ramp up capacity utilization in an effort to meet rising demand at home and abroad, industry sources said Wednesday. The move comes amid stabilizing international steel prices due to a drop in China’s steel exports, and expectations for an increase in domestic demand [...]
SEOUL, Feb. 23 (Korea Bizwire) — POSCO Chemical Co., an affiliate of South Korea’s steel giant POSCO Group, said Tuesday it will invest 275.8 billion won (US$248 million) to expand its production capacity of cathodes, a key component for electric vehicle (EV) batteries. POSCO Chemical said the plant in the southern city of Gwangyang will [...]
SEOUL, Feb. 23 (Korea Bizwire) — LG Display Co., a major display panel maker in South Korea, said Tuesday it has developed a large-size oxide-based thin film transistor (TFT) for a digital X-ray detector (DXD) as the company aims to foster its diagnostic imaging business for future growth. LG Display said its oxide TFT — [...]
SEOUL, Feb. 12 (Korea Bizwire) — South Korean shipbuilders led by Hyundai Heavy Industries Co. have jacked up their order targets for this year by over 40 percent compared with last year, as the global shipbuilding industry is expected to see a boom on the back of toughened environmental regulations. Korea Shipbuilding & Offshore Engineering [...]
SEOUL, Feb. 11 (Korea Bizwire) – POSCO plans to begin producing lithium in a salt lake in Argentina in 2023, a company official said Thursday, as the world’s fifth-largest steelmaker has been aggressively moving to secure the key metal for electric vehicle (EV) batteries. Last year, POSCO completed its demo plant near the Salar del [...]