SEOUL, Aug. 5 (Korea Bizwire) — SK IE Technology Co. (SKIET), an electronics materials maker under South Korea’s SK Group, said Friday it has signed an initial deal with Vingroup, Vietnam’s largest conglomerate, to supply a battery material to its affiliate. Under the agreement with Vin Energy Solution (VinES), SKIET will supply its battery separators [...]
SEOUL, Aug. 5 (Korea Bizwire) — Major oil refiner GS Caltex Corp. has teamed up with the Korean unit of Swiss food giant Nestle to establish a circular economy, aimed at promoting resource efficiency and carbon reduction. GS Caltex and Lotte-Nestle Korea Ltd. on Thursday formed a business agreement to promote the recycling of waste [...]
SEOUL, Aug. 3 (Korea Bizwire) — GS Retail, the operator of GS25 convenience stores, said Wednesday exports of its craft beer products surged over 18 times between 2019 and the first half of 2022 amid a global craft beer boom. GS said its total exports of craft beer reached US$560,000 in the first six months [...]
SEOUL, Aug. 3 (Korea Bizwire) — Lotte Chilsung Co., the beverage unit of Lotte Group, said Wednesday the combined exports of its flavored soju Soonhari reached 41.9 billion won (US$32 million) between 2016 and 2021. During the period, Lotte Chilsung said it shipped Soonhari, which comes in eight different flavors, such as apple, strawberry and [...]
SEOUL, Aug. 3 (Korea Bizwire) — POSCO Engineering & Construction Co., the construction arm of South Korea’s leading steelmaker, POSCO, said Tuesday it has developed an eco-friendly concrete mold made with plastic scraps and slag. The mold was created jointly with Iomtek, a POSCO E&C subsidiary, and comes in the shape of a board that [...]
SEOUL, Aug. 3 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it will run its global production sites only on renewable energy starting in 2025 as part of efforts to achieve the goals for sustainable growth. All battery production facilities in South Korea, North America, Europe and China will operate on 100 percent renewable [...]
SEOUL, Aug. 3 (Korea Bizwire) — The combined workforce of large South Korean companies expanded 1.5 percent in the first half of the year from a year earlier amid eased COVID-19 restrictions, a corporate tracker said Wednesday. The number of workers hired by 459 out of the country’s top 500 firms by sales totaled 1.55 [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to impose a combined fine of 24.4 billion won (US$18.6 million) on GS Retail Co., the operator of GS 25 convenience stores, for its unfair business practice. GS Retail received a total of 19.5 billion won from eight contractors in [...]
SEOUL, July 29 (Korea Bizwire) — Samsung SDI Co. said Friday it posted record high operating income and sales in the second quarter, driven by strong sales of electric vehicle (EV) batteries. Operating income reached 429 billion won (US$330.4 million) in the April-June period, up 45.3 percent from a year earlier, the company said in [...]
SEOUL, July 29 (Korea Bizwire) — Hanwha Group, South Korea’s seventh-largest conglomerate by assets, announced Friday it will reshape its key affiliates to bolster its push for green energy, battery and semiconductor components. Hanwha will combine its two defense units and place them under the wing of Hanwha Aerospace Co., its largest defense arm that [...]