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The Korea Herald

Industrials

September 29, 2019
SK Innovation expresses regret over LG Chem lawsuit in US

SK Innovation on Sept. 29 expressed regret over the patent infringement lawsuit recently filed against it by LG Chem with a US court, vowing a strong response as the legal battle rages on between the two battery rivals. On Sept. 29, SK Innovation said, “We will respond strongly by taking all poss...
September 29, 2019
KGCCI gives 4 companies ‘Innovation Awards’

The Korean German Chamber of Commerce and Industry on Sept. 27 successfully held its “5th KGCCI Innovation Awards” ceremony at the floating island Sebitseom in Seoul. “We are proud to recognize companies that are leading innovation in Korea,” said Barbara Zollmann, President and CEO of KGCCI. ...
September 26, 2019
Samsung Heavy develops world’s 1st fuel cell-powered crude carrier

Samsung Heavy Industries a major shipbuilder here, said Sept. 26 it has developed the world’s first Aframax crude oil tanker powered by fuel cells. The company said it had acquired approval in principle from DNV GL, a Norway-based classification society, for its fuel cell-powered Aframax COTs....
September 25, 2019
SK E&C, US firm to form JV for fuel cell production

SK Engineering & Construction said Sept. 25 it will set up a joint venture with US-based Bloom Energy for the production of solid oxide fuel cell. The 49:51 JV, to be set up in November, will provide Korean-made fuel cells to power-generating facilities, data centers, among others. “The compa...
September 22, 2019
[INTERVIEW] Local mindset behind global market clout: Schneider CEO

SINGAPORE -- Roughly 30 percent of France-based Schneider Electric’s revenue came from the Asia-Pacific region in 2018. Another 30 percent came from North America and Western Europe, respectively, with the portfolio ranging from voltage distribution products to solutions for automation, energy st...
September 19, 2019
Lam Research to move R&D center to S. Korea: report

Lam Research, a global manufacturer of semiconductor equipment, is mulling plans to move its research and development center to South Korea, local media reported Sept. 19. Citing an unnamed government official and industry sources, ET News reported that Lam Research decided on the move during a re...
September 19, 2019
[INTERVIEW] Once labor-intensive, shipbuilders in race for digital transformation

SINGAPORE -- Traditional methods used to maintain cost efficiency in the labor-intensive field of shipbuilding and marine engineering will give way more and more to digital solutions that are already quietly permeating the industry, Craig Hayman, CEO of UK industrial software developer Aveva, said ...
September 19, 2019
Dyson unveils new vacuum cleaner, air purifiers in S. Korea

British home appliance maker Dyson on Sept. 19 introduced its latest vacuum cleaner and air purifiers. The V11 220 Air Watts CF features the strongest suction power among its cordless vacuum cleaner lineup since its launch in 2010, according to Dyson. The latest product, costing 1.2 million...
September 18, 2019
Going digital critical for shedding complexity: Samsung Heavy

SINGAPORE -- While digital transformations remain a demanding task for capital-intensive projects like shipbuilding and power plant construction, firms who have managed to catch on are learning to avoid the complexity in managing data flow. One of them is South Korea’s major shipbuilder Samsung ...
September 17, 2019
Aveva to upgrade integrated industrial software in digital push

SINGAPORE -- UK-based industrial software developer Aveva said Sept. 17 it plans to introduce its newly integrated industrial software by November in its digital push to streamline large-scale projects. The news comes amid the UK company’s push for software integration following its merger with F...
September 17, 2019
Korean firms suffer extended slump in Q2

South Korean companies continued to suffer setbacks in their sales and profits in the second quarter amid slower economic growth and sluggish exports, central bank data showed Sept. 17. In the April-June period, the average sales of local companies shrank 1.1 percent from the same period last y...
September 16, 2019
Imports of Japanese beer fall sharply on boycott

South Korean imports of Japanese beer fell 97 percent in August from a year earlier due to a boycott of Japanese products amid a bilateral trade spat, data showed Sept. 16. The value of imports of Japanese beer came to $223,000 in August, compared with $7.56 million in the same period of last y...
September 10, 2019
Delta increases stake in Korean Air’s parent firm

Delta Air Lines said on Sept. 10 it has increased its stake in Hanjin KAL, the parent company of Korean Air, in what it called a long-term investment. In a report to the main bourse operator Korea Exchange, Delta said its stake in Hanjin KAL rose to 9.21 percent from 5.13 percent. “The purpos...
August 25, 2019
GS Group braces for low-growth era at strategic meeting

GS Group Chairman Huh Chang-soo called for preemptive measures to respond to the sluggish economy at a strategy meeting held on Aug. 25 and 26. Under the theme “Strategies for Growth in Low-Growth Era,” the meeting was attended by some 60 CEOs and managers of group affiliates, the firm said. “...
August 25, 2019
Posco advocates plastic reduction with environmental campaign

South Korean steelmaker Posco announced on Aug. 25 the launch of its second #SteelSaveEarth campaign starting Aug. 28 to raise awareness on the detrimental effects of single-use plastic waste on the environment. The campaign was first launched in April to encourage the use of reusable and recyclab...

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