SEOUL, Dec. 21 (Korea Bizwire) — Korea Shipbuilding & Offshore Engineering Co. said Saturday it plans to set up a joint venture to build engines with Saudi Aramco in March next year in the latest move to strengthen their cooperation. The JV will break ground for the plant in the King Salman International Complex for [...]
SEOUL, Dec. 17 (Korea Bizwire) — South Korea’s Cabinet approved a motion on Tuesday that centers on nurturing industries for eco-friendly vessels to better deal with tightened international regulations and reduce emissions of fine dust. The trade ministry said it would roll out a set of measures to speed up the development and supply of [...]
SEOUL, Dec. 13 (Korea Bizwire) — Samsung Electro-Mechanics Co., an electronic components maker affiliated with Samsung Electronics, said Thursday it will shut down one of its Chinese units that produces high density interconnect (HDI) substrates due to low profitability. Kunshan Samsung Electro-Mechanics Co. in Jiangsu, China, will halt production and sales, Samsung Electro-Mechanics said, adding [...]
SEOUL, Dec. 6 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Friday it will establish a 50:50 joint venture with General Motors to build a battery cell assembly plant in the world’s most important automobile market amid a global push for zero emissions. LG Chem and GM said they will invest [...]
SEOUL, Dec. 5 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Thursday it will invest US$916 million in its U.S. affiliate for a plan to set up an electric vehicle (EV) battery manufacturing joint venture with General Motors in the United States. Earlier in the day, Reuters reported that the two [...]
SEOUL, Dec. 5 (Korea Bizwire) – SK Innovation Co., a major energy and chemical company in South Korea, said Thursday that it has built its first electric vehicle (EV) battery cell manufacturing plant in China in the latest move to tap deeper into the world’s largest EV market. The completion ceremony for BEST — a [...]
SEOUL, Dec. 4 (Korea Bizwire) — SK Innovation Co., a major electric vehicle (EV) battery maker in South Korea, said Wednesday it has signed a six-year deal with Swiss-based Glencore PLC to secure supplies of cobalt, a key material used in EV batteries. Under the agreement, SK Innovation will receive a total of 30,000 tons [...]
SEOUL, Dec. 3 (Korea Bizwire) — Doosan Bobcat Inc., a compact construction equipment maker under South Korea’s Doosan Group, said Tuesday it will acquire the zero-turn mower business of U.S. grounds care equipment manufacturer Schiller Grounds Care Inc. Under the agreement, Doosan Bobcat will acquire Schiller Grounds Care’s manufacturing facility in Wisconsin and its three [...]
SEOUL, Dec. 1 (Korea Bizwire) — SK Energy Co., South Korea’s leading oil refinery and gas station operator, said Sunday its desulfurization facility in the country will be completed by January, with its commercial operation likely to start in March. Since 2017, SK Energy has spent 1 trillion won (US$846 million) on building the vacuum [...]
SEOUL, Nov. 24 (Korea Bizwire) — South Korea’s chip and display industries, the backbone of Asia’s No. 4 economy, have remained intact since Tokyo’s export curbs against the Asian neighbor, Seoul’s trade ministry said Sunday. The country’s top four tech giants — Samsung Electronics Co., Samsung Display Co., SK hynix Inc. and LG Display Co. [...]