SEOUL, July 27 (Korea Bizwire) — LG Chem Ltd. said Wednesday it has clinched a long-term supply agreement with General Motors Co. to provide the U.S. carmaker with key materials for electric vehicle (EV) battery cells. LG Chem, the country’s leading chemical firm, will supply more than 950,000 tons of cathode materials under the eight-year [...]
SEOUL, July 26 (Korea Bizwire) — South Korea’s exports of ice cream reached an all-time high in the first half of this year, data showed Tuesday, amid a global heat wave and the growing popularity of Korean culture. Overseas shipments of South Korean-made ice-cream products came to US$50 million in the January-June period, up 14 [...]
SEOUL, July 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday it has signed a joint venture agreement with a Chinese mining company to build a battery recycling plant to secure raw materials for lithium-ion battery components. The joint venture deal with Zhejiang Huayou Cobalt Co. will commit the two companies to build [...]
DAEGU, July 26 (Korea Bizwire) — A South Korean research team has succeeded in reproducing the taste of civet coffee, known as “kopi luwak,” without harming any animals using fermentation technology. Civet coffee is made from coffee beans plucked from civets’ feces. It’s the world’s most expensive coffee but raised social issues such as animal [...]
SEOUL, July 25 (Korea Bizwire) – South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday it has won a 649.5 billion-won (US$495 million) order to build two liquefied natural gas (LNG) carriers from Europe. DSME, the world’s No. 4 shipbuilder by order backlog, said it will construct the 174-cubic-meter LNG carriers in [...]
SEOUL, July 25 (Korea Bizwire) — South Korea’s exports of fisheries products touched a fresh high in the first half of this year thanks to brisk overseas demand, data showed Monday. Outbound shipments of fisheries goods reached US$1.71 billion during the January-June period, according to the data by the Korea Agro-Fisheries & Food Trade Corp. [...]
SEOUL, July 24 (Korea Bizwire) — South Korean steel giant POSCO Group has put itself on an emergency management footing, its holding company said Sunday, as business units across the group brace for weaker profits amid an expected slowdown of the global economy. The decision came in a Thursday meeting of Chairman Choi Jeong-woo and [...]
SEOUL, July 24 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest carrier, resumed its Incheon-Beijing route Saturday after suspending it for more than two years due to the COVID-19 pandemic. An Asiana plane carrying 141 passengers left Incheon International Airport in the morning and arrived at Beijing Capital International Airport, the company said. Before [...]
GEOJE, July 22 (Korea Bizwire) — Subcontract workers at the Daewoo Shipbuilding & Marine Engineering Co. (DSME) shipyard on the southeastern coast agreed to end their 51-day strike Friday, after labor and management struck a last-minute agreement on almost all contentious issues. About 120 unionized workers from DSME subcontractors had staged a sit-in at the [...]
SEOUL, July 22 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it has partnered with Ford Motor Co. and a domestic cathode firm to jointly invest in a cathode materials production facility in the United States. SK On said it it has recently signed a letter of intent with Ford and [...]