SEOUL, Jan. 26 (Korea Bizwire) – South Korean steelmakers are doubling down on hydrogen-related investments, as part of efforts to overcome the ever-toughening environmental regulations as well as to create new growth engines. Industry experts say that in a situation where the steel industry is stigmatized as being devastating to the environment, the core competitiveness [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korean energy solution firm Hanwha Solutions Corp. has expanded the production of eco-friendly plasticizer that is free of environmental hormones in response to growing market demand. The company said Monday that its Chemical division had increased the output of the eco-friendly plasticizer Eco-DEHCH by 50,000 tons and launched [...]
SEOUL, Jan. 24 (Korea Bizwire) – POSCO, the world’s fifth-largest steelmaker by output, is expected to have logged double-digit operating profit growth in the fourth quarter on increased demand despite the coronavirus pandemic. Strong demand for steel products in China and a hike in steel prices likely buoyed the company’s bottom line in the October-December [...]
SEOUL, Jan. 24 (Korea Bizwire) — South Korea’s two excavator makers are expected to see a steady rise in their shipments to China this year thanks to a boom in the neighbor’s construction market, according to industry watchers Sunday. “The Chinese government’s policy to boost the economy is forecast to expand the volume of the [...]
SEOUL, Jan. 22 (Korea Bizwire) – South Korean steelmaker POSCO announced on Thursday that the world’s largest liquid natural gas (LNG)-fueled bulk carrier has successfully completed its maiden voyage. POSCO’s eco-friendly bulk carrier HL Green arrived at the terminal of its steel mill in Gwangyang, 420 kilometers southwest of Seoul, after departing from Mokpo in [...]
SEOUL, Jan. 21 (Korea Bizwire) — Samsung Display Co. said Thursday it will mass-produce organic light-emitting diode (OLED) displays for laptops with a higher refresh rate in the first quarter of the year as the South Korean panel maker eyes increasing sales amid the pandemic. Samsung Display said the mass production of its 90Hz OLED [...]
SEOUL, Jan. 21 (Korea Bizwire) — SK Innovation Co., a South Korean refinery-to-battery company, said Thursday it has invested in a Chinese battery swap system provider to step up its battery business in the world’s largest market. SK Innovation said it acquired a 13.3 percent stake in Blue Park Smart Energy Technology Co. (BPSE), a [...]
ULSAN, Jan. 21 (Korea Bizwire) – South Korean shipbuilder Hyundai Heavy Industries Co. announced on Wednesday that it had succeeded in lifting a 9,100-ton ultra-large offshore facility using a floating crane. The company said that its 10,000-ton floating crane ‘Hyundai-10000’ recently lifted the topside of the King’s Quay semi-submersible floating production system (FPS) at its [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea’s state-run lenders and SK hynix Inc. signed an agreement to provide US$3 billion in loans to support mergers and acquisitions by the world’s second-biggest memory chipmaker, officials said Tuesday. The Korea Development Bank (KDB), Export-Import Bank of Korea (Eximbank) and NH Nonghyup joined the financing deal, which [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s top construction equipment maker Doosan Infracore Co. said Monday that the number of its construction equipment sold here rose 18 percent last year from a year ago on increased demand. “Despite the coronavirus pandemic, demand for high-end excavators increased last year here on the back of enhanced [...]