SEOUL, Aug. 12 (Korea Bizwire) — South Korea’s top power plant builder, Doosan Heavy Industries & Construction Co., said Wednesday that it has signed a 220 billion won (US$185.6 million) deal to build a power plant using waste in Poland. Under the deal with Polish energy company Dobra Energia, Doosan Heavy and its German affiliate, [...]
SEOUL, Aug. 10 (Korea Bizwire) — South Korea’s leading shipper HMM Co. said Monday that it has signed a deal to sell a 50 percent minus one share stake in a container terminal in Spain to French shipping giant CMA CGM for 58.9 billion won (US$49.5 million). HMM said it will set up a joint [...]
SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s leading shipper HMM Co. is forecast to return to the black in the second quarter of the year, snapping its 21 consecutive quarters of net losses, on the back of a rise in shipping charges and decreasing fuel costs, industry sources said Sunday. “The rosy outlook of [...]
SEOUL, Aug. 5 (Korea Bizwire) — POSCO Chemical Co., an affiliate of South Korea’s steel giant POSCO Group, said Wednesday it will expand production capacity of cathodes, a key component for electric vehicle (EV) batteries. POSCO Chemical said the move will boost its annual production capacity of cathodes to 70,000 tons by 2022, which is [...]
SEOUL, Aug. 5 (Korea Bizwire) — Construction equipment maker Doosan Bobcat Co. said Wednesday that it has mass-produced small-sized excavators in China to expand its presence in the Chinese market. Doosan Bobcat has produced 1- and 2-ton excavators at its plant in the Chinese southeastern city of Suzhou to immediately response to market demand instead [...]
SEOUL, Aug. 5 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, and other local steel mills plan to cut their crude steel production due to a sharp decline in global steel demand over the coronavirus pandemic, company officials said Wednesday. Earlier this year, POSCO had planned to produce 36.7 million tons of crude [...]
SEOUL, Aug. 3 (Korea Bizwire) – LG Chem Ltd., South Korea’s leading chemical firm, became the largest supplier of electric vehicle (EV) batteries in the first half of the year, data showed Monday. Based on the global usage of EV batteries, LG Chem’s market share stood at 24.6 percent in the January-June period, up from [...]
SEOUL, July 31 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Friday that its second-quarter net profit jumped five times from a year earlier on the back of improved production of electric vehicle (EV) batteries. Net profit reached 419.1 billion won (US$352 million) in the April-June period, compared with 83.8 billion [...]
SEOUL, July 30 (Korea Bizwire) — Power plant builder Doosan Heavy Industries & Construction Co. said Thursday that it has obtained approval for aerospace-related 3D printing technology from Lloyd’s Register, a British quality assurance and risk management company. “The approval will help expand Doosan Heavy’s 3D printing technology to aerospace parts from power plant parts,” [...]
SEOUL, July 29 (Korea Bizwire) — Hyundai Mipo Dockyard Co. said Wednesday it will build a ship powered by electricity and other fuel with its own technologies by 2022 for the first time in the country to expand its presence in the ecoship market. Hyundai Mipo signed a deal with a local government to build [...]