SEOUL, April 28 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner and chemical company, said Tuesday that it will invest US$727 million in building its second electric vehicle (EV) battery plant in the United States. The investment in SK Battery America, which is wholly owned by SK Innovation, is meant to further boost [...]
SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, said Monday that it will invest about 65 billion won (US$53 million) to boost production of carbon nanotubes. The investment is set to be completed at the Yeosu plant, about 455 kilometers south of Seoul, by March next year, which would [...]
SEOUL, April 24 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Friday that its first-quarter earnings fell 44.2 percent from a year earlier due to slow demand amid the spreading novel coronavirus. Net profit reached 434.7 billion won (US$351.5 million) in the January-March period, compared with a profit of 778.4 billion won a year [...]
SEOUL, April 23 (Korea Bizwire) — LG Display Co., a major South Korean display panel maker, said Thursday it incurred losses in the first quarter due to disruption of its production amid the new coronavirus pandemic. LG Display reported a net loss of 198.9 billion won (US$161.7 million) during the January-March period, widening from a [...]
SEOUL, April 21 (Korea Bizwire) — A South Korean steelmaker has developed a technology that can track the location of underground pipes with close precision. POSCO announced Monday that it recently set up an information system of pipe networks inside its integrated steel mill in Pohang using the pipe tracking technology developed by the Research [...]
SEOUL, April 21 (Korea Bizwire) — South Korea’s two major display makers are expected to suffer an operating loss for the first quarter of the year, analysts here said Tuesday, due to the fallout from the novel coronavirus pandemic. Samsung Display Co., the display manufacturing affiliate of Samsung Electronics Co., was projected to have posted [...]
SEOUL, April 20 (Korea Bizwire) — Samsung Electronics Co. is in talks with the Chinese government over sending semiconductor engineers to the company’s Chinese plants. Since the outbreak of the new coronavirus infection, COVID-19, China has not allowed foreigners to enter the country except in special cases. The world’s largest memory chip maker and the [...]
SEOUL, April 20 (Korea Bizwire) — SK Innovation Co., a major energy and chemical company in South Korea, said Monday that it will supply electric vehicle (EV) batteries to its Chinese partner, Beijing Automotive Group (BAIC Group). BAIC’s MARK 5, set to be released in the second half of this year, will be powered by [...]
SEOUL, April 16 (Korea Bizwire) — SK hynix Inc., South Korea’s No. 2 chipmaker, is expected to see an earnings rebound in the first quarter of the year, analysts here said Thursday, on the back of robust demand for server chips amid the novel coronavirus pandemic. SK hynix, a major memory chip producer, was projected [...]
SEOUL, March 31 (Korea Bizwire) — Samsung Display Co., a major display panel maker in South Korea, will halt the production of liquid crystal displays (LCD) next year and focus on ramping up its next-generation display business, the company said Tuesday. Samsung Display will speed up its transition to a quantum-dot (QD) display business in [...]