SEOUL, Sept. 13 (Korea Bizwire) — With the one year anniversary of Samsung Electronics Co.’s release of its mid- to long-term environmental management strategy nearing, the South Korean tech giant has said it was on the path toward achieving net zero companywide by 2050. In September last year, Samsung unveiled the New Environmental Strategy, detailing [...]
SEOUL, Sept. 11 (Korea Bizwire) –Hyundai Engineering & Construction Co. (Hyundai E&C) said Monday it has signed a partnership deal with a local energy IT startup via an equity investment in an effort to break into the power brokerage business. Hyundai E&C, South Korea’s No. 2 builder, didn’t disclose the amount of its investment in [...]
SEOUL, Sept. 11 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Monday it plans to expand its production facilities in Indonesia, with an aim to start operations in 2026. KT&G currently has a tobacco manufacturing plant in Surabaya and plans to build another one in the Southeast Asian country. The new Indonesian [...]
SEOUL, Sept. 11 (Korea Bizwire) — SKC Co., a South Korean manufacturer of secondary battery parts and advanced materials, said Monday it is acquiring a stake in a U.S. semiconductor packaging startup as it accelerates the drive for chip post-processing. The investment in Chipletz, an Austin-based fabless company, will give SKC an approximately 12 percent [...]
SEOUL, Sept. 3 (Korea Bizwire) — HD Hyundai Construction Equipment Co. said Sunday it has received orders to provide its products for Saudi Arabia’s Neom megacity project and Argentina’s lithium mine excavation plan. HD Hyundai Construction Equipment is the construction unit of South Korea’s shipbuilding-to-energy conglomerate HD Hyundai Group. In the Argentina deal, the company [...]
SEOUL, Aug. 22 (Korea Bizwire) — New orders won by South Korean shipbuilders jumped 11.9 percent in the first half of 2023 on the back of rising demand for high-priced vessels, the industry ministry said Tuesday. The country’s shipbuilders secured orders worth US$9.29 billion in the January-June period, compared with $8.24 billion a year earlier, [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea recaptured the top spot in new global shipbuilding orders for the first time in five months in July, industry data showed Monday. Local shipyards clinched orders totaling 1.46 million compensated gross tons (CGTs) to build 29 ships, accounting for 44 percent of the global total of 3.33 [...]
SEOUL, Aug. 10 (Korea Bizwire) — LS Cable & System Ltd., South Korea’s leading wire and cable maker, said Thursday it will invest about 155.5 billion won (US$118 million) over the next two years to expand its submarine cable plant. The expansion of the factory in Donghae on the east coast is designed to meet [...]
SEOUL, Aug. 7 (Korea Bizwire) — Lotte Energy Materials Corp. said Monday it is spending 560 billion won (US$431 million) to build a factory in Spain to produce battery-grade copper foil for use in electric vehicle cells. The factory will be located in Mont-roig del Camp, a town in Catalonia in northeastern Spain, and built [...]
SEOUL, Aug. 7 (Korea Bizwire) — SK Nexilis Co., a South Korean copper foil maker, said Monday it has signed a deal with German battery manufacturer Varta A.G. to exclusively supply its product for what will be Varta’s first mass production of electric vehicle (EV) batteries. SK Nexilis said it is also in talks with [...]