SEOUL, Oct. 10 (Korea Bizwire) — Samsung Display Co., a major display panel maker here, said Thursday it will invest 13.1 trillion won (US$10.9 billion) by 2025, to upgrade its liquid crystal display (LCD) production facilities and produce more advanced displays amid a slump and increased competition. Panel makers here, including its large local rival [...]
SEOUL, Oct. 8 (Korea Bizwire) — Samsung Heavy Industries Co., a major shipbuilder in South Korea, said Tuesday it has secured a US$920 million order to build six of the world’s largest container ship. Under the deal with Taiwanese shipping firm Evergreen Marine Corp., Samsung Heavy will build six ultra-large box ships with a capacity [...]
SEOUL, Oct. 7 (Korea Bizwire) — Shares of South Korea’s largest chemical firm, LG Chem, hit a 52-week low during Monday trading on the Seoul bourse following a grim third-quarter earnings outlook and concerns over its energy storage system (ESS), analysts here said Monday. LG Chem plunged 3.21 percent to touch a new 52-week low [...]
SEOUL, Oct. 7 (Korea Bizwire) – South Korean steelmakers are raising the prices of their steel products to reflect increased costs of raw materials, industry sources said Monday, though the price hikes are likely to be lower than expected. POSCO, South Korea’s largest steelmaker, recently agreed with a local carmaker to raise the prices of [...]
SEOUL, Oct. 7 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s sixth-largest tiremaker by sales, said Monday it began to supply tires for Porsche’s Cayenne sport utility vehicle in June. Hankook Tire supplies the high-performance Ventus S1 evo 3 SUV tires for the high-performance Cayenne in the form of original equipment (OE) tires, [...]
SEOUL, Oct. 6 (Korea Bizwire) — Hyundai Heavy Industries Co., South Korea’s top shipbuilder, is likely to have a lengthy standoff with its labor union over this year’s wage deal, industry watchers said Sunday, adding a burden to its already struggling business. Hyundai Heavy has held 16 rounds of wage negotiations with the union since [...]
SEOUL, Sept. 30 (Korea Bizwire) – South Korea’s steelmakers are looking at core materials used for environmentally friendly vessels ahead of the implementation of a new environmental regulation by the International Maritime Organization (IMO) as part of their efforts to diversify its product portfolio and beef up profitability, industry observers said Monday. The IMO will [...]
SEOUL, Sept. 27 (Korea Bizwire) – SK Innovation Co., a major electric vehicle (EV) battery maker in South Korea, will establish a joint venture to produce EV batteries in China, industry sources said Friday. According to the sources, Chinese battery firm EVE Energy Co. has approved a plan to set up the EV battery joint [...]
SEOUL, Sept. 27 (Korea Bizwire) – LG Chem Ltd. said Friday it has filed additional lawsuits against local rival SK Innovation Co. in the United States over electric vehicle (EV) battery patents, upping the stakes of their month-long legal row. LG Chem said it filed a pair of lawsuits with the U.S. International Trade Commission [...]
SEOUL, Sept. 26 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. said Thursday it has joined forces with South Korea’s top shipping firm Hyundai Merchant Marine Co. to develop smart ship technologies. The two sides will collaborate in developing various technologies used for smart ships, such as real-time monitoring and automation systems, according to [...]