SEOUL, Oct. 27 (Korea Bizwire) — South Korea’s National Pension Service (NPS) decided Tuesday to oppose LG Chem Ltd.’s plan to spin off its battery business at a shareholders’ meeting later this week. In September, LG Chem, the country’s leading chemical company, announced a plan to separate the battery business to better cope with growing [...]
SEOUL, Oct. 27 (Korea Bizwire) — South Korean shipyards are likely to win more orders next year as toughened environment regulations may prod clients to resort to local shipbuilders, which have a competitive edge in eco-friendly vessels, a report said Tuesday. Their combined new orders are estimated at 10 million compensated gross tons (CGTs) worth [...]
SEOUL, Oct. 27 (Korea Bizwire) — Samsung Display Co., a major display panel maker in South Korea, has received approval from the U.S. government to supply certain display products to Huawei Technologies Co., sources here said Tuesday, amid Washington’s sanctions against the Chinese tech giant. Samsung Display recently acquired a license from the U.S. Commerce [...]
SEOUL, Oct. 27 (Korea Bizwire) — SK Nexilis, a specialist in the production of copper foil, a core component for the batteries of electric vehicles (EVs), announced that it is on track to expand factory output as well as to establish new production lines overseas. This move came after the demand for copper foil increased [...]
SEOUL/WASHINGTON, Oct. 26 (Korea Bizwire) — A U.S. trade panel on Monday postponed its final decision on a high-stakes trade secret case involving two South Korean electric vehicle battery markers — LG Chem Ltd. and SK Innovation Co. — to early December. The delay marks the second of its kind after the U.S. International Trade [...]
SEOUL, Oct. 26 (Korea Bizwire) — South Korean shipbuilder Samsung Heavy Industries Co. said Monday it has launched its project along with DNV GL, a Norwegian ship quality assurance company, to develop floaters for offshore wind turbines. Under the deal with DNV GL, a leading global technical certification and standardization of offshore wind power, Samsung [...]
SEOUL, Oct. 26 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. said Monday that it has won approval for its floating facility to supply both electricity and LNG to an onshore facility, from ABS, a U.S. ship quality assurance and risk management company. The facility, Floating Storage Power Plant LNG Cargo Handling System (FSPP [...]
SEOUL, Oct. 23 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, said Friday its third-quarter net profit rose 3.5 percent from a year earlier on improving sales despite the coronavirus pandemic. Net profit for the three months ending in September rose to 514 billion won (US$450 million) from 496.8 billion won in the [...]
SEOUL, Oct. 22 (Korea Bizwire) — LG Display Co., a major display panel maker in South Korea, on Thursday said it swung to the black in the third quarter of the year on the back of robust demand for displays used in IT gadgets and increased shipments of large-size panels for TVs amid the pandemic-driven [...]
SEOUL, Oct. 22 (Korea Bizwire) — Korea Shipbuilding & Offshore Engineering Co. said Thursday that it and its unit Hyundai Mipo Dockyard Co. have won approval for the design of a commercial hydrogen carrier for the first time in the world. The approval in principle for the design was awarded by KR, South Korea’s ship [...]