SEOUL, Sept. 3 (Korea Bizwire) — South Korean manufacturers of car batteries are anticipated to benefit from Beijing’s latest move to cut subsidies provided to Chinese companies, industry watchers said Monday. Chinese-based electric car battery maker OptimumNano Energy recently announced that it will suspend its production line for six months citing financial problems. BYD, China’s [...]
SEOUL, Aug. 24 (Korea Bizwire) — SK Innovation Co., South Korea’s largest refiner by sales, said Friday it will invest in a 820 billion won (US$730 million) battery plant in China, a move aimed at meeting growing demand for car batteries. In a joint venture with BAIC Motor Corporation., Ltd. and Beijing Electronics Holding Co., [...]
SEOUL, Aug. 16 (Korea Bizwire) — SK Innovation revealed yesterday that it was unveiling five corporate campaign videos that were created with VR art drawing techniques. German artist Tobias Wüstefeld took part in creating the videos that incorporate VR techniques with traditional art drawing methods. In the video, Wüstefeld is seen wearing VR head gear [...]
SEOUL, Apr. 30 (Korea Bizwire) — SK Lubricants Co., a unit of the country’s top oil refiner SK Innovation Co., is seeking to beef up its overseas presence through joint ventures (JVs) with global refiners, industry sources said Sunday. SK Lubricants is eying JVs with global players to build plants in the North American region, [...]
SEOUL, Mar. 21 (Korea Bizwire) — SK Innovation Co. said Wednesday that its wholly owned U.S. subsidiary, SK E&P America Inc., will buy a 100 percent stake in Longfellow Nemaha, a U.S. gas exploration firm, in the latest move to boost its shale gas exploration projects in North America. SK E&P America said Tuesday that [...]
SEOUL, March 16 (Korea Bizwire) — Leaders of South Korea’s major business groups and economic organizations will accompany President Moon Jae-in on his visit to Vietnam and the United Arab Emirates (UAE) next week to further strengthen economic cooperation, industry sources said Friday. Moon will visit Vietnam and the UAE between March 22 and 27 [...]
SEOUL, Dec. 26 (Korea Bizwire) – South Korea’s petroleum refinery industry is making large scale investments and diversifying their portfolios amid solid growth this year, market watchers said Monday. Observers said that the move comes as companies want to capitalize on recent gains and better insulate themselves from uncertainties going forward. S-Oil Corp., which is [...]
SEOUL, Nov. 30 (Korea Bizwire) — SK Innovation Co. said Thursday it has decided to invest more than 1 trillion won (US$925 million) to boost electric vehicle battery production capacity to meet growing demand. The South Korean EV battery maker said it is set to break ground on a 840 million-won plant in Hungary in [...]
SEOUL, Oct. 17 (Korea Bizwire) — SK Innovation Co., South Korea’s top oil refiner, said Tuesday that its joint venture with China’s Sinopec will spend 740 billion won (US$655 million) on expanding its output capacity by some 36 percent in order to meet growing demand. SK Global Chemical Co., SK Innovation’s affiliate, and Sinopec invested [...]
SEOUL, Oct. 11 (Korea Bizwire) — South Korea’s top oil refiner SK Innovation Co. said Wednesday that its affiliate has signed a deal to buy another chemical business unit under Dow Chemical Co., in a bid to expand its market presence. Early this year, SK Global Chemical Co. took over Dow Chemical’s ethylene acrylic acid [...]