SEOUL, June 16 (Korea Bizwire) — Cash-strapped Doosan Group plans to sell its key construction equipment maker unit Doosan Infracore Co. as part of its self-rescue measures to receive financial support from creditor banks, industry sources said Tuesday. South Korea’s 15th-largest conglomerate is seeking to sell its shares and assets to improve its financial structure [...]
SEOUL, June 11 (Korea Bizwire) — LG Display Co., a South Korean display panel maker, said Thursday it aims to develop stretchable displays by 2024 as it was named to lead a national R&D project on the high-end technology. In cooperation with more than 20 companies, institutions and universities, LG Display will develop a display [...]
SEOUL, June 10 (Korea Bizwire) — Hyundai Heavy Industries Co., a major shipyard, will enhance its presence in the warship market as part of efforts to boost sales, its parent, Korea Shipbuilding & Offshore Engineering Co., said Wednesday. The company said a 26,000-ton warship, named Aotearoa, built by the shipbuilder left Ulsan, southeast 414 kilometers [...]
SEOUL, June 10 (Korea Bizwire) — Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said Wednesday it will venture into the hydrogen infrastructure market to secure a new growth driver. Hyundai Rotem plans to supply hydrogen-charging facilities after completing the technology transfer of hydrogen reformers, equipment that extracts hydrogen from natural [...]
SEOUL, June 10 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Wednesday it will sell its liquid crystal display (LCD) polarizer business unit to a Chinese firm to focus on core businesses. LG Chem has signed a deal to sell the LCD polarizer-related business unit to Shanghai Shanshan Chemical Co., Ltd. [...]
SEOUL, June 4 (Korea Bizwire) — Doosan Heavy Industries & Construction Co.’s push to reshape its business portfolio is stirring concerns over the feasibility of the overhaul plan whose centerpiece is reduction of its mainstay coal and nuclear power businesses and expansion of its clout in the renewable energy realm. In return for 3.6 trillion [...]
SEOUL, June 3 (Korea Bizwire) — SK Global Chemical Co., a chemical affiliate of South Korea’s energy giant SK Innovation Co., said Wednesday it has completed the acquisition of French chemical firm Arkema S.A.’s functional polyolefins business for 335 million euros (US$375 million) in the latest move to boost its packaging business. Under the deal, [...]
SEOUL, June 3 (Korea Bizwire) — South Korea’s three major shipyards are on course to win more overseas orders for liquefied natural gas (LNG) carriers following a massive deal from Qatar, industry sources said Wednesday. The shipbuilders — Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. (DSME) — [...]
SEOUL, June 2 (Korea Bizwire) — South Korea’s three largest shipbuilders agreed to a 23.6 trillion won (US$19.2 billion) deal that commits them to reserve their liquefied natural gas (LNG) ship construction capacity to meet future orders from Qatar, the Middle Eastern country’s state-run petroleum company said Monday. Qatar Petroleum said in a press release, [...]
SEOUL, June 1 (Korea Bizwire) — South Korean chemicals maker SKC Co. said Monday that it will invest 120 billion won (US$98 million) to build a new plant for its copper foil subsidiary in an effort to help cement the latter’s market position. The company will break ground on SK Nexilis’ sixth plant in the [...]