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POSCO to Invest 53 tln Won in Eco-friendly Plant, Battery Materials

POSCO to Invest 53 tln Won in Eco-friendly Plant, Battery Materials

SEOUL, May 26 (Korea Bizwire) — POSCO Group said Thursday it will invest 53 trillion won (US$41.8 billion) over the next five years to transform its steel plants into environment-friendly facilities and invest in battery materials. The South Korean steelmaker will spend most of the planned investment to upgrade the existing steel mills into eco-friendly [...]

S. Korean Battery Makers Beef Up Investment Despite Cost Burden from Raw Material Prices

S. Korean Battery Makers Beef Up Investment Despite Cost Burden from Raw Material Prices

SEOUL, May 24 (Korea Bizwire) — South Korea’s battery makers are aggressively expanding on research and development and facility investments despite a cost burden arising from a surge in the prices of raw materials. According to LG Energy Solution Ltd. (LGES)’s quarterly report, its cathode material purchase price averaged US$34 per kilogram in the first [...]

Hyundai to Invest US$5 bln in U.S. for Robotics, Autonomous Driving Development

Hyundai to Invest US$5 bln in U.S. for Robotics, Autonomous Driving Development

SEOUL, May 22 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Sunday it will invest an additional US$5 billion in the United States for robotics and autonomous driving software development, just a day after announcing a similar size investment to build an electric vehicle plant in the U.S. Hyundai Motor Group Chairman Euisun Chung [...]