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The Korea Herald

Industrials

July 14, 2019
Posco International volunteers for locals in Papua, Indonesia

Posco International, the trade and resources development arm of Posco, said on July 14 it sent some 30 executives and employees to Papua, Indonesia, for medical volunteer work. Together with 30 medical experts from Korea University Ansan Hospital, the Women’s Health Foundation and Seegene Medical...
July 11, 2019
Samsung Heavy bags W147b order for 2 crude carriers

Samsung Heavy Industries said on July 11 that it has clinched a deal worth 147 billion won ($124 million) to build two crude carriers. Under the deal with a Panamanian shipping firm, Samsung Heavy will deliver the two Suezmax tankers by March 2021. Suezmax refers to the largest ships that are c...
$Doosan Infracore opens engine training center in Vietnam$

July 11, 2019
Doosan Infracore opens engine training center in Vietnam

Doosan Infracore said on July 11 it has opened an engine training center in Vietnam to expand its presence in the Southeast Asian market. The center in Ho Chi Minh will provide services, including training programs related to its engine products for commercial vehicles, to Vietnamese customers,...
July 11, 2019
Samsung Heavy to build R&D facility to beef up LNG-related tech

Samsung Heavy Industries said on July 11 it will build a research and development facility to boost its competitiveness in technologies related to liquefied natural gas. The shipbuilder said it has started construction of a LNG system test facility at its shipyard in Geoje, some 400 kilometers ...
July 09, 2019
LG Chem aims to quintuple EV battery biz by 2024

LG Chem will try to quintuple its electric vehicle battery business by 2024, the company’s CEO said on July 9. CEO Shin Hak-cheol said the company is targeting 59 trillion won ($49.9 billion) in sales by 2024, with 31 trillion won coming from its battery business. Last year, the company’s bat...
July 09, 2019
Korea tops shipbuilding orders for 2nd month in June

South Korea maintained the top spot in global shipbuilding orders for the second straight month last month, industry data showed on July 9. In June, local shipyards won orders totaling 340,000 compensated gross tons to build six ships, accounting for more than half of the orders placed around t...
July 08, 2019
KEPCO to sell stake in 2 affiliates

The Korea Electric Power Corp. plans to sell stake in its two affiliates, officials at the state-run utility company said on July 8, in a bid to improve its financial status. The two affiliates are KEPCO Engineering & Construction and Korea Electric Power Industrial Development. In a report...
July 08, 2019
Samsung Heavy builds world’s largest container ship

Samsung Heavy Industries said July 8 it has successfully built the world’s largest container vessel. The shipbuilder said one of the six 23,000 20-foot equivalent unit-class container ships ordered by Swiss shipper Mediterranean Shipping Co. in September 2017, left its shipyard in Geoje, 400 k...
July 04, 2019
Hanjin Heavy signs strategic partnership with Filipino builder EEI

Hanjin Heavy Industries & Construction, a midsize shipbuilding and construction company in South Korea, said on July 4 it has signed a strategic partnership with a Filipino builder to win infrastructure projects in the Philippines. Under their strategic alliance agreement, Hanjin Heavy said it ...
July 04, 2019
Hyundai Glovis expands sales network in India

Hyundai Glovis said on July 4 it has expanded sales network in India to strengthen its presence in the emerging market. The company has recently set up sales offices in the northern Indian city of Delhi and the southern port city of Mumbai to win deals in the local cars, auto parts and general ...
July 03, 2019
SoftBank’s Son to meet Korean biz execs

SoftBank CEO Masayoshi Son, also known as Son Jeong-Ui in South Korea, will visit Seoul on July 4 and meet with heads of conglomerates including Samsung Group’s Lee Jae-young, local media reported on July 3. The CEO of the Japanese holding group and Lee had a meeting in September 2016 at Samsung’...
July 03, 2019
Property investments of conglomerates worth W40tr

South Korea’s major conglomerates hold property assets worth 40 trillion won ($34.16 billion) with Lotte leading the list, CEO Score, a website that analyzes Korean conglomerates, said on July 3. According to CEO Score, the book value of realty investments of 59 companies, categorized as large co...
July 03, 2019
Korean Air to open four routes in H2

Korean Air said on July 3 it will open four new routes to China and the Philippines later this year to better serve customers. The national flag carrier plans to begin services on routes from Incheon International Airport to three Chinese cities -- Nanjing, Zhangjiajie and Hangzhou -- and Clark...
July 02, 2019
HHI officially starts process to earn regulatory approval for DSME takeover

Hyundai Heavy Industries Group said on July 2 it has officially started the process to earn approval from anti-trust regulators for its proposed takeover of Daewoo Shipbuilding and Marine Engineering. The shipbuilder said it has submitted a request for formal approval from South Korea’s Fair T...
July 01, 2019
Korea to deal sternly with Japan’s move to curb tech material exports

South Korea’s Trade Ministry said on July 1 it will deal sternly with a move by Japan to tighten the rules for exports of semiconductor and display materials to Seoul, voicing regrets over the Japanese move. Park Tae-sung, head of the Office of International Trade and Investment at the ministr...

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