SEOUL, June 29 (Korea Bizwire) — South Korea’s cement industry has launched a drive to reduce the use of Japanese coal ash, while accelerating efforts to develop technology that can promote the use of domestically-made alternatives. The Korea Cement Association announced on Thursday that it will launch a project to develop process technology and facilities [...]
SEOUL, June 25 (Korea Bizwire) — South Korean shipbuilders have failed to clinch new orders for offshore facilities in the first half of the year as demand dried up amid weak oil prices, the companies’ data showed Thursday. In addition, Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. have order backlogs of [...]
SEOUL, June 23 (Korea Bizwire) — Cash-squeezed Doosan Group will focus on its clean energy-related business while selling off others, such as its power plant construction business, in return for financial assistance from its creditors, industry sources said Tuesday. State-run banks the Korea Development Bank and the Export-Import Bank of Korea injected 3.6 trillion won [...]
SEOUL, June 22 (Korea Bizwire) — South Korea’s shipbuilders, led by Hyundai Heavy Industries Co., suffered from a sharp drop in new orders in the first five months of the year, falling sharply short of their annual order targets due to the coronavirus outbreak and a drop in oil prices, the companies’ data showed Monday. [...]
SEOUL, June 22 (Korea Bizwire) — Hyundai Motor Group’s heir apparent met with the head of LG Group in the latest move to discuss cooperation in the electric vehicle (EV) battery business, Hyundai Motor said Monday. Hyundai Motor Group Executive Vice Chairman Chung Euisun and LG Group Chairman Koo Gwang-mo discussed how to cooperate on [...]
SEOUL, June 21 (Korea Bizwire) — LG Chem Ltd. is considering shutting down its production line in the southeastern tip of the country due to oversupply, industry and company sources said Sunday. South Korea’s No. 1 electric vehicle battery maker said it has informed its workers of the plan to close down the line in [...]
SEOUL, June 21 (Korea Bizwire) — Shares in South Korean shipbuilders will get a boost from hopes of more LNG carrier deals after a recent mega deal from Qatar and a rise in global oil prices that will boost demand for new ships, industry sources said Sunday. On June 2, the country’s top three players [...]
SEOUL, June 18 (Korea Bizwire) — Doosan Bobcat Inc., a South Korean manufacturer of farm and construction equipment, said Thursday that it has posted robust sales in the North American compact tractor market. Doosan Bobcat sold a total of 1,400 compact tractors in the January-May period in North America and expects to meet its annual [...]
SEOUL, June 17 (Korea Bizwire) — SK Materials Co., a South Korean manufacturer of specialty gas, has recently begun mass-producing etching gas, almost a year after Japan imposed export curbs on the material critical for chip manufacturing, its parent SK Group said Wednesday. Last year, SK Materials built a plant with an annual production capacity [...]
SEOUL, June 16 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner and chemical company, overtook domestic rival Samsung SDI Co. to become the fifth-largest supplier of electric vehicle (EV) batteries for the first time, data showed Tuesday. Based on the global usage of EV batteries, SK Innovation’s market share stood at 3.5 percent [...]