WASHINGTON/SEOUL, Feb. 10 (Korea Bizwire) — A U.S. trade panel on Wednesday ruled in favor of South Korean battery maker LG Energy Solution Ltd. in a trade secret case and issued a 10-year import ban on some lithium-ion battery products by SK Innovation Co. The U.S. International Trade Commission (ITC) affirmed a preliminary ruling delivered [...]
SEOUL, Feb. 10 (Korea Bizwire) — Samsung Heavy Industries Co. said Wednesday that it will demonstrate whether its remote autonomous navigation system can autonomously steer a large ship in August. A 9,200-ton ship will be used to demonstrate the shipbuilder’s remote autonomous navigation system known as Samsung Autonomous Ship, or SAS, the company said. Mokpo [...]
SEOUL, Feb. 9 (Korea Bizwire) – South Korean shipbuilders held on to their global No. 1 status in terms of new orders of ships in January, outpacing their Chinese rivals for the seventh straight month, industry data showed Tuesday. According to the data provided by global market researcher Clarkson Research Service, South Korean shipyards bagged [...]
SEOUL, Feb. 8 (Korea Bizwire) — LG Display Co., a major display panel maker in South Korea, will make an additional US$750 million investment in its plant in Vietnam, news reports showed Monday, as the company eyes expanding OLED panel productions. The city of Hai Phong approved LG Display’s latest investment plan for its plant [...]
SEOUL, Feb. 8 (Korea Bizwire) — South Korean machinery maker Hyosung Heavy Industries Corp. has teamed up with German chemicals group Linde to build the world’s largest liquid hydrogen plant. The two sides recently signed a joint venture (JV) agreement to promote their liquid hydrogen operations. Under this deal, two JVs will be established – [...]
SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s power plant builder Doosan Heavy Industries & Construction Co. said Friday that its board of directors has decided to sell the company’s 35 percent stake in Doosan Infracore Co. for 850 billion won (US$757 million) to global shipbuilding holding company Hyundai Heavy Industries Holdings Co. (HHIH). Cash-strapped [...]
SEOUL, Feb. 5 (Korea Bizwire) — Samsung Electronics Co. has asked Texas state officials to give tax breaks for its potential new chip plant, news reports showed Friday, raising speculation that the South Korean tech titan could make a big investment in the United States. The world’s largest memory chipmaker has requested authorities in Texas [...]
SEOUL, Feb. 4 (Korea Bizwire) — Hyundai Glovis Co. has developed an exclusive container that enables dead electric vehicle (EV) batteries to be transported in an economically efficient manner. The logistics unit of Hyundai Motor Group announced on Wednesday that it acquired a patent for a Platform Container that is designed to transport a variety [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korean shipbuilders, led by top player Hyundai Heavy Industries Co., are expected to undergo a temporary shortage of order backlogs in the second half of the year due to a decline in new orders last year, an industry watcher said Tuesday. “A temporary shortage of work is predicted [...]
SEOUL, Feb. 2 (Korea Bizwire) — POSCO International Corp. has announced plans to expand its automotive motor core business as part of efforts to cope with the growth in demand for eco-friendly vehicles. The South Korean general trading company revealed on Monday that it formulated blueprints aimed at supplying 4 million units of automotive motor [...]