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Daelim Invests US$50 mln in Brazilian Unit’s Synthetic Rubber Business

Daelim Invests US$50 mln in Brazilian Unit’s Synthetic Rubber Business

SEOUL, July 17 (Korea Bizwire) — Daelim Industrial Co., a major construction and petrochemical player in South Korea, said Friday that it will invest US$50 million in its synthetic rubber unit, Cariflex, to meet growing demand for rubber latex amid the coronavirus pandemic. The facility investment will double the annual production capacity of synthetic rubber [...]

Daelim Industrial to Buy Kraton’s Synthetic Rubber Business

Daelim Industrial to Buy Kraton’s Synthetic Rubber Business

SEOUL, Oct. 31 (Korea Bizwire) — Daelim Industrial Co., a major construction and petrochemical firm in South Korea, announced Thursday it has decided to acquire a synthetic rubber unit of American chemical giant Kraton Corp. for US$530 million. Under the deal, Daelim will get the Cariflex business of Kraton, including its plant in Brazil and [...]

Construction Contractors Complain of Excessive Penalties for Project Collusion

Construction Contractors Complain of Excessive Penalties for Project Collusion

SEOUL, June 26 (Korea Bizwire) –As the Fair Trade Commission pressures the construction contractors ever harder for colluding in biddings, the total bill for penalties for the past two years has surpassed 450 billion won. Accordingly, some contractors with poor results this year had to pay fines in excess of their profits. According to construction industry [...]