SEOUL, Oct. 23 (Korea Bizwire) — South Korea’s top steelmaker POSCO said Wednesday that its salt lake in Argentina contains more lithium reserves than its original calculation, allowing the company to safely secure a key commodity for making electric vehicle batteries. POSCO said its latest exploration of the Salar del Hombre Muerto salt lake in [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korean display maker LG Display Co. said Wednesday it turned to a net loss in the third quarter due to low LCD panel prices and weak global demand. LG Display logged 442.2 billion won (US$377.1 million) in net loss for the July-September period, compared with 17.5 billion won [...]
SEOUL, Oct. 20 (Korea Bizwire) — Hyundai Steel Co., South Korea’s No. 2 steelmaker, is facing a double whammy of a slump in its earnings and a labor dispute, sending its stock price to a multiple-month low, industry observers said Sunday. Hyundai Steel closed 0.28 percent lower at 36,200 won (US$30) on the Seoul bourse [...]
JINCHEON, Oct. 17 (Korea Bizwire) — South Korea’s leading solar cells and modules manufacturer, Hanwha Q Cells, has said it plans to begin using an artificial intelligence-based production system around 2021 to beef up its competitiveness in the photovoltaic market. Hanwha Q Cells said its plant in Jincheon is set to use self-learning software to [...]
SEOUL, Oct. 15 (Korea Bizwire) — South Korea has developed a machine control device that can make robot operations easily and safely, a state-run institute said Tuesday, a move that could lead to the growth of smart factories. The “robot-teaching” apparatus created by researchers at the Department of Robotics and Mechatronics led by Do Hyun-min [...]
SEOUL, Oct. 15 (Korea Bizwire) — SK Global Chemical Co., a chemical affiliate of South Korea’s energy giant SK Innovation Co., said Tuesday it will acquire French chemical firm Arkema S.A.’s functional polyolefins business for 335 million euros (US$369 million) in the latest move to boost its packaging business. SK Global Chemical said the acquisition [...]
SEOUL, Oct. 14 (Korea Bizwire) — Samsung SDI Co., a major electric vehicle battery maker in South Korea, on Monday unveiled safety measures to tackle fires in energy storage systems (ESS) that have been plaguing the industry. Samsung SDI said it has developed a special fire extinguishing system for ESS and will apply it to [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean battery makers such as No. 1 player LG Chem Ltd. are likely to deliver weaker-than-expected earnings for the third quarter due to weak performance in their chemicals and battery business sectors, industry sources said Sunday. LG Chem, the country’s top chemical firm, is expected to have logged [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean shippers are considering joining hands to win massive liquefied natural gas (LNG) transportation orders to be placed by Qatar, industry sources said Sunday. Five bulkers — reportedly Korea Line Corp., Pan Ocean Co., SK Shipping Co., Hyundai LNG Shipping Co. and H-Line Shipping Co. — are set [...]
SEOUL, Oct. 11 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co., a major shipbuilder in South Korea, said Friday it has signed a deal worth 1.1 trillion won (US$924 million) to design and build an upgraded submarine for the country’s Navy. Under the deal with the Defense Acquisition Program Administration (DAPA), Daewoo Shipbuilding will [...]