SEOUL, Oct. 19 (Korea Bizwire) – LG Display Co., a major display maker in South Korea, is expected to return to the black in the third quarter of the year, analysts here said Monday, on the back of a price increase in LCD panels and solid demand for displays used in IT gadgets amid the [...]
SEOUL, Oct. 18 (Korea Bizwire) — South Korean shippers, led by industry leader HMM Co., are forecast to post strong earnings in the third quarter of the year on the back of increased fare and a drop in fuel costs, industry sources said Sunday. “A gradual recovery in global maritime cargo volume pushed up global [...]
SEOUL, Oct. 17 (Korea Bizwire) — Electric vehicle (EV) battery producers in South Korea are growing anxious as Hyundai Motor Co. as well as foreign automakers are experiencing safety issues with EV batteries. The U.S. National Highway Traffic Safety Administration is reportedly carrying out investigations into three fires caused by General Motors Co.’s Chevrolet Bolt [...]
CHONAN, Oct. 14 (Korea Bizwire) — Shutter-type screen doors developed in South Korea will be installed in Bulgaria. The Korea Institute of Industrial Technology (KITECH) announced on Tuesday that it had signed a deal with Bulgaria’s Metropolitan, the municipality-owned company operating the underground railway system in Sofia, to export the shutter-type screen door technology that [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean shipbuilders are expected to win orders later this year to build liquefied national gas (LNG) ships in Africa, analysts said Tuesday. In the January-September period, local shipbuilders fell far short of achieving their annual order targets as the new coronavirus pandemic continued to affect the shipbuilding industry, [...]
SEOUL, Oct. 13 (Korea Bizwire) — POSCO International Corp., a South Korean general trading company, said Tuesday that it has signed a deal to supply half shafts to Vietnamese startup VinFast next year for its first electric vehicles. The auto parts to be built by Erae Automotive Systems Co., a small South Korean auto parts [...]
SEOUL, Oct. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Monday its operating profit hit a quarterly record high in the third quarter amid robust sales at the petrochemical and electric vehicle (EV) battery units. In its earnings guidance, the South Korean electric vehicle battery maker estimated its operating profit [...]
SEOUL, Oct. 8 (Korea Bizwire) — With COVID-19 routing the global shipbuilding industry, shipbuilding giant group Hyundai Heavy Industries Group has been aggressively building up its business portfolio via mergers and business tieups to sharpen its competitive edge. The shipbuilding giant has been going ahead with the acquisition of its smaller local rival Daewoo Shipbuilding [...]
SEOUL, Oct. 6 (Korea Bizwire) — Hyundai Elevator Co., South Korea’s leading elevator maker, introduced on Monday a new Clean Moving Solution that can minimize physical contact in elevators. The new solution is an upgraded version of the ‘walk-through’ technology that does not require elevator users to press buttons. Users can call elevators using ‘H-Mobile [...]
SEOUL, Oct. 6 (Korea Bizwire) — Doosan Corp., the holding company of South Korea’s Doosan Group, said Tuesday that it will increase sales of unmanned forklifts in the country. Industrial Vehicle, a business division of Doosan, has been discussing ways to provide its automated guided forklifts to about 20 companies, Doosan said. Last year, Doosan [...]