SEOUL, Sept. 1 (Korea Bizwire) — POSCO Holdings Co., the largest steelmaker in South Korea, said Thursday it has signed a memorandum of understanding with India’s Greenko to produce so-called green hydrogen. Under the deal, the two will launch a project to produce green hydrogen and ammonia in India by using renewable energy. The two [...]
SEOUL, Sept. 1 (Korea Bizwire) — Plug-in hybrid electric vehicles (PHEVs) from Hyundai Motor Co. and its affiliate Kia Corp. are selling well despite the global popularity of EVs. Hyundai Motor Group reported that since PHEVs were first released in 2015, the average annual sales growth reached 106.8 percent, easily surpassing EV’s annual sales growth [...]
SEOUL, Aug. 31 (Korea Bizwire) — Doosan Enerbility Co., a heavy industry affiliate of Doosan Group, said Tuesday it had joined hands with a group of local subcontractors to strengthen its competitiveness in the production of casks, containers used for the transportation and storage of spent nuclear fuel. A day ago, the company signed a [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Monday it is joining hands with Japan’s Honda Motor Co. to build an electric vehicle battery plant in the United States in the latest move to increase its production capacity amid growing demand for zero-emission vehicles. The two companies [...]
SEOUL, Aug. 29 (Korea Bizwire) — Hyundai Rotem Co., South Korea’s sole tank manufacturer, said Monday it has signed a 499 billion won (US$372 million) K2 tank deal in Poland. Hyundai Rotem signed the deal with Poland’s state defense procurement agency to build 180 K2 tanks for the Polish military by December 2027, the company [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Friday its management has met with a group of government officials from the U.S. state of Indiana in Seoul and discussed the ongoing battery joint venture with Stellantis N.V. Choi Yoon-ho, CEO of Samsung SDI, met with Indiana Gov. Eric Holcomb [...]
SEOUL, Aug. 26 (Korea Bizwire) — BGF Retail Co., the operator of CU convenience stores, said Thursday it had formed a business agreement with MOBINN, an in-house startup of Hyundai Motor Co., to launch a robot delivery pilot service. After establishing a last-mile business consultative body, the two companies are expected to launch the convenience [...]
SEOUL, Aug. 25 (Korea Bizwire) — South Korea has won a 3 trillion won (US$2.25 billion) deal to build a nuclear power plant in Egypt, delivering a boost to the languishing nuclear power industry at home, a presidential official said Thursday. Under the deal, which was signed in Cairo the same day, South Korea’s state-run [...]
SEOUL, Aug. 25 (Korea Bizwire) — Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said Thursday it has received a 755.7 billion-won (US$560 million) order for subway train cars in Egypt. Under the deal signed with Egypt’s National Authority for Tunnels (NAT), Hyundai Rotem will supply subway train cars for the [...]
SEOUL, Aug. 18 (Korea Bizwire) – South Korean banks saw their net profit decline 9.9 percent on-year in the first half as their non-interest income shrank, data showed Thursday. Their combined net income came to 9.9 trillion won (US$7.5 billion) in the January-June period, compared with a profit of 11 trillion won tallied a year [...]