SEOUL, Oct. 6 (Korea Bizwire) — South Korea’s Daewoo Shipbuilding & Marine Engineering Co. said Tuesday that it has gotten the nod for its ammonia-powered ship from Lloyd’s Register, a British quality assurance and risk management company. Daewoo Shipbuilding plans to commercialize the ammonia-fueled 23,000 TEU container carrier by 2025, the company said in an [...]
SEOUL, Oct. 5 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, topped global electric vehicle (EV) battery sales from January to August, a local market research firm said Monday. LG Chem accounted for a 25 percent share of the global EV battery market, in which a total of 64.7 gigawatt-hours (GWh) of [...]
SEOUL, Oct. 4 (Korea Bizwire) — An extended slump is expected to undermine South Korean shipbuilders’ earnings in the third quarter of the year amid the COVID-19 pandemic, with a meaningful recovery in the near future not in sight. According to the data provided by global market researcher Clarkson Research Service, global new orders for [...]
SEOUL, Oct. 4 (Korea Bizwire) — South Korean steelmakers are expected to have performed better in the third quarter despite the new coronavirus fears, moving on from a slump a quarter ago, analysts said on Sunday. The country’s major steelmakers are likely to have earned more in the July-September period, thanks to a rebound in [...]
SEOUL, Sept. 28 (Korea Bizwire) — Hyundai Heavy Industries Holdings Co. said Monday it has joined the preliminary bidding for Doosan Infracore Co. “This company has submitted its preliminary bid for Doosan Infracore,” the shipbuilding holding company said in a regulatory filing. Hyundai Heavy Industries Holdings formed a consortium with Korea Development Bank Investment, a [...]
SEOUL, Sept. 27 (Korea Bizwire) — The U.S. International Trade Commission (ITC) has voiced support for LG Chem Ltd.’s call for sanctions on its rival SK Innovation Co. in connection with a legal dispute over battery patents, LG Chem said Sunday. In response to LG Chem’s request for the issuance of an order sanctioning SK [...]
SEOUL, Sept. 25 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, announced Thursday the successful development of a forklift powered by hydrogen. The hydrogen forklift, developed jointly with Hyundai Motor Co. and Hyundai Construction Equipment Co., will begin its test run early next year at the free zone for hydrogen businesses, [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korea’s Samsung Heavy Industries Co. said Thursday that it has received the go-ahead for its ammonia-powered ships from Lloyd’s Register, a British quality assurance and risk management company. Samsung Heavy Industries plans to commercialize the ammonia-propelled A-Max tanker by 2024 by developing an independently ammonia fuel supply system [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s top power plant builder Doosan Heavy Industries & Construction Co. said Wednesday that it will join hands with five public power companies to revitalize a gas turbine business. Doosan Heavy and the companies will beef up their cooperation in the sectors, such as the establishment of liquefied [...]
SEOUL, Sept. 22 (Korea Bizwire) — Samsung Electronics Co. said Tuesday its chip plant earned a renowned certification for sustainable water management as it beefs up environment-friendly and energy-saving measures at its business sites. Samsung’s chip plant in Hwaseong, south of Seoul, became the first semiconductor site in the industry to receive the Carbon Trust [...]