SEOUL, Sept. 15 (Korea Bizwire) — SK Innovation Co. of South Korea has been picked to supply a battery pack for Ferrari’s first plug-in hybrid electric vehicle (PHEV), industry sources said Sunday. After two years of tests of various products, the Italian luxury sports carmaker has chosen SK Innovation as the supplier of the lithium-ion [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korea’s major chemical companies are bulking up by absorbing their advanced material-producing affiliates in a move to increase their profitability amid the global economic slowdown, market watchers said Sunday. In recent months, three chemical firms have announced they will absorb their wholly owned subsidiaries to streamline their chemical [...]
SEOUL, Sept. 13 (Korea Bizwire) — Share prices of local shipbuilders are sailing higher following massive orders in recent months, analysts here said Friday. Shares in Korea Shipbuilding & Offshore Engineering Co., which manages shipbuilding units of Hyundai Heavy Industries Group, closed at 122,200 won on Wednesday, up 26 percent from one month earlier. Samsung [...]
SEOUL, Sept. 10 (Korea Bizwire) — SK Siltron Co., a semiconductor material producer under SK Group, said Tuesday it will acquire DuPont’s wafer business as part of efforts to beef up its advanced material business. SK Siltron said its board members approved a plan to purchase DuPont’s silicon carbide (SiC) wafer business for US$450 million. [...]
SEJONG, Sept. 10 (Korea Bizwire) — Major South Korean shipbuilders have been accused of not duly paying subcontractors for their works, industry sources said Tuesday. The Fair Trade Commission launched probes into Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. over their alleged failures to pay subcontractors between [...]
SEOUL, Sept. 8 (Korea Bizwire) — Chief executives of LG Chem Ltd. and SK Innovation Co. — two South Korean electric vehicle battery makers — are expected to meet later this month to make a breakthrough in their legal standoff over EV battery patents, industry sources said Saturday. LG Chem CEO Shin Hak-cheol and SK [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korean companies are making progress with localizing production of materials essential for semiconductors and displays, which were previously imported from Japan before restrictions were imposed on them by the Japanese government. A local company recently succeeded in developing ultra-pure hydrogen fluoride, which was one of the materials that [...]
SEOUL, Sept. 4 (Korea Bizwire) — POSCO, South Korea’s largest steelmaker, said Wednesday it will build a lithium processing plant in the country’s southwestern city to meet the growing demand of electric vehicle (EV) battery materials. POSCO said it has recently finalized a deal with Pilbara Minerals Ltd., a major lithium mining company in Australia, [...]
SEJONG, Sept. 4 (Korea Bizwire) — South Korea’s exports of petrochemical goods nosedived last month, data showed Wednesday, underscoring how the protracted trade dispute between the United States and China is taking a toll on key export items. Outbound shipments of petrochemical goods reached US$3.5 billion in August, falling from $4.3 billion a year earlier, [...]
SEOUL, Sept. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, said Wednesday it will cooperate with Universal Display Corp. (UDC), a U.S.-based display materials maker, to develop an advanced organic light-emitting diode (OLED) component. LG Chem said it signed a strategic partnership with UDC to co-develop an upgraded emissive layer, a [...]