SEOUL, May 28 (Korea Bizwire) — South Korean shipbuilders are expected to suffer setbacks in the second half of this year due to weak orders triggered by the coronavirus pandemic and low oil prices, market watchers have said. The data from global market researcher Clarkson Research Service showed that the combined new orders won by [...]
SEOUL, May 26 (Korea Bizewire) — South Korean construction equipment makers, including industry leader Doosan Infracore Co., have stopped production at their local plants due to weak exports to Europe and North America, industry sources said Tuesday. Doosan Infracore’s board of directors have decided to halt production at its two plants till early next month. [...]
SEOUL, May 25 (Korea Bizwire) — Doosan Solus Co., a South Korean copper foil maker, has obtained incentives worth about 34 billion won(US$27.4 million) from the Hungarian government over its investment there, its parent Doosan Corp. said Monday. Doosan Solus has been building a copper foil-producing plant in Hungary with a capacity of 10,000 tons, [...]
SEOUL, May 22 (Korea Bizwire) — Samsung Electronics Co., the world’s largest memory chipmaker, said Friday that it has sent 300 more South Korean engineers and workers to China to complete the expansion of its second chip manufacturing plant amid the novel coronavirus pandemic. Samsung said engineers and workers, including some from its subcontractors, left [...]
SEOUL, May 20 (Korea Bizwire) — South Korean construction equipment makers, led by Doosan Infracore Co., are set to bask in increased sales in China as the world’s No. 2 economy is ramping up efforts to rebound from the coronavirus outbreak, industry data showed Wednesday. Doosan Infracore, South Korea’s No. 1 construction equipment maker, sold [...]
CHONAN, May 20 (Korea Bizwire) — A new sewage treatment system has been developed that can process female hygiene products, wet wipes, and other large, solid materials. The Korea Institute of Industrial Technology (KITECH) and regenerative blower manufacturer Hwanghae Electric Co. announced Tuesday that they had developed a single-channel pump that can flush even large, [...]
SEOUL, May 14 (Korea Bizwire) — POSCO Chemical Co., an affiliate of South Korea’s steel giant POSCO Group, said Thursday it has expanded production capacity of cathode material, a key component for electric vehicle (EV) batteries. POSCO Chemical said the move will boost its annual production capacity of cathode to 30,000 tons from the previous [...]
SEOUL, May 11 (Korea Bizwire) — A major oil refiner in South Korea will commercialize eco-friendly technology that manufactures calcium carbonate, which is a raw material for building materials and paper, with greenhouse gases generated during the crude oil refining process. Hyundai Oilbank Co. said Sunday it had recently signed a memorandum of understanding with [...]
SEOUL, May 7 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, overtook Japan’s Panasonic to become the largest supplier of electric vehicle (EV) batteries for the first time, data showed Thursday. Based on the global usage of EV batteries, LG Chem’s market share stood at 27.1 percent in the first quarter, up [...]
SEOUL, May 3 (Korea Bizwire) — Embattled Doosan Heavy Industries & Construction Co. is under growing pressure to sell more assets in return for aid from its creditors, industry sources said Sunday. Last week, parent Doosan Group submitted Doosan Heavy’s final self-rescue plans, worth more than 3 trillion won (US$2.45 billion), to the creditors led [...]