SEOUL, Jul. 18 (Korea Bizwire) — Samsung SDI Co, a major electric vehicle battery maker, will join hands with Volvo Group to develop battery packs for electric trucks, the company said Thursday. In a strategic alliance with Sweden-based Volvo Group, one of the world’s largest manufacturers of commercial vehicles, Samsung SDI will provide battery cells [...]
SEOUL, Jul. 17 (Korea Bizwire) — Samsung Electronics Co. has begun testing etching gas critical for the production of semiconductors, a source familiar with the issue said Wednesday, as South Korea is struggling to cope with Japan’s export restrictions. Since July 4, Japan tightened regulations on exports to South Korea of resist, etching gas and [...]
SEOUL, Jul. 15 (Korea Bizwire) — Lotte Chemical Corp., a major chemical unit under Lotte Group, said Monday it will establish a petrochemical joint venture with GS Energy Co., an energy-specialized holding company of GS Group. Lotte Chemical and GS Energy signed an agreement to form a joint venture, tentatively named Lotte-GS Chemical Company, this [...]
SEOUL, Jul. 9 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, will try to quintuple its electric vehicle (EV) battery business by 2024, the company’s CEO said Tuesday, as it aims to become a top five player in the industry. LG Chem CEO Shin Hak-cheol said the company is targeting 59 trillion [...]
SEOUL, Jul. 9 (Korea Bizwire) — South Korea’s top steelmaker POSCO said Tuesday it has raised US$500 million by selling so-called environment, social, governance (ESG) bonds. The ESG bond is a type of sustainability debt offering aimed to finance corporate activities in environmental, social responsibility and governance improvement. POSCO also said it is the world’s [...]
SEOUL, Jul. 9 (Korea Bizwire) — LG Display Co. said Tuesday that operations at its OLED factory in China will be put into full swing next month to ramp up its production capacity of premium panels in the key market. LG Display has invested about 5 trillion won (US$4.2 billion) to build the Guangzhou factory [...]
SEOUL, Jul. 9 (Korea Bizwire) — It’s no secret that South Korean shipbuilders are flying high in the liquefied natural gas (LNG) carrier market, having bagged more than 80 percent of global orders in recent years. But the real winner in the global LNG carrier market is Gaztransport & Technigaz (GTT) S.A., the world’s No. [...]
SEOUL, Jul. 5 (Korea Bizwire) — The South Korean electric battery industry is at stake as China continues to lure professionals and experts. Contemporary Amperex Technology Co. (CATL), China’s largest battery provider, was reported to have contacted South Korean professionals in the electric battery industry, offering to triple their current salary as part of their [...]
SEOUL, Jul. 3 (Korea Bizwire) – South Korea’s top steelmaker POSCO said Wednesday it has been named a “lighthouse factory,” by the World Economic Forum (WEF) for its efforts to drive innovation of the manufacturing sector. The WEF, an international organization for public-private cooperation, selects lighthouse factories twice a year that are considered front runners [...]
DAEJEON, Jul. 3 (Korea Bizwire) — The Korea Institute of Machinery & Materials (KIMM) announced on Tuesday that it has developed a new machine vision technology that automatically detects failures in various machines. Machine vision technology is a system created to imitate how humans look at things and make appropriate decisions. The technology has been [...]