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SK Telecom uses AI to create optimized virtual power plants
SEOUL -- Under a business agreement for technology development with domestic partners, SK Telecom, a leading mobile carrier in South Korea, will use artificial intelligence and new technologies to predict the amount of renewable energy generation and power demand scattered in each region and create optimized virtual power plants. A virtual power plant (VPP) harnesses scattered renewable energy power generation to a network for maximum efficiency using new technologies such as artificial intelli
September 28, 2022
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Hanwha Group picked as potential owner of Daewoo shipyard in $1.4 billion deal
SEOUL -- South Korea's Hanwha Group was picked as the potential owner of Daewoo Shipbuilding & Marine Engineering in a preliminary deal to acquire a 49.3 percent stake and management rights, 14 years after its first bid for the troubled shipbuilder controlled by a state policy lender was aborted by a global financial crisis in 2008. The group has been interested in the shipbuilder's capabilities in the production of attack submarines and warships. Daewoo Shipbuilding & Marine En
September 26, 2022
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Hyundai shipyard uses Palantir big data platform to implement digital twins in shipbuilding processes
SEOUL -- In an effort to speed up the construction of smart shipyards, South Korea's Hyundai shipbuilding group expanded its partnership with Palantir Technologies, a public software company in the United States, to use its big data platform for the implementation of digital twins in all shipbuilding processes from design to production. A digital twin is a virtual clone of an object or an infrastructure. Digital twins are frequently used as testing grounds for new technologies or other ele
September 21, 2022
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Hyundai shipbuilding group works with classification society for early commercialization of self-sailing technology
SEOUL -- With the purpose of preoccupying the market, South Korea's Hyundai shipbuilding group will work with a domestic maritime classification society to advance the commercialization of an autonomous navigation system developed by the group's in-house venture, Avikus, which has tested its technology using a giant natural gas carrier for a transoceanic voyage. Korean Register (KR) said that it has signed a joint development agreement with Hyundai Heavy Industries, Avikus and the South
September 5, 2022
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Daewoo shipyard applies new technologies to deliver eco-friendly shuttle tankers in time
SEOUL -- Daewoo Shipbuilding & Marine Engineering has delivered two eco-friendly shuttle tankers to its Norwegian client by applying new technologies that helped the shipbuilder secure enough time to complete the construction of expensive ships in time. The ships are installed with a dual propulsion system capable of using liquefied natural gas (LNG) and liquefied petroleum gas (LPG) as fuel. In February 2020, Daewoo Shipbuilding & Marine Engineering (DSME) secured an order from Norway&
September 5, 2022
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Daewoo shipyard selected for state project to commercialize fuel cell tugboat by 2026
SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has been selected for a state project to develop and commercialize an eco-friendly tugboat based on a hydrogen fuel cell engine by 2026 In response to tightened international regulations on green gas emissions generated by ships. Daewoo Shipbuilding & Marine Engineering (DSME) said that the fuel cell tugboat project being pushed by the Ministry of Oceans and Fisheries would cost about 23.5 billion w
September 1, 2022
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SK Group acquires management rights of U.S. circuit breaker company Atom Power
SEOUL -- South Korea's SK Group acquired management rights of Atom Power, a U.S. developer of solid-state digital circuit breakers, in a $150 million deal to promote an energy solution business and electric vehicle mobility services at home and abroad. The deal involving SK Inc., an investment-oriented holding company, and SK energy was signed in Seoul on August 18. Atom Power's solid-state breaker concept replaces traditional moving parts of an electromechanical circuit breaker wit
August 18, 2022
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Hanwha Aerospace aims to become global defense solution company like Lockeed Martin
SEOUL -- Hanwha Aerospace, an aircraft parts maker involved in the production of engines for South Korea's homegrown space rocket, will be reborn as a global defense solution company to benchmark Lockheed Martin, a U.S. aerospace, arms, defense, information security, and technology corporation. In a board meeting on July 29, Hanwha Aerospace was allowed to absorb the defense business of Hanwha Corporation, a manufacturing and trading company that produces munitions, navigational systems fo
July 29, 2022
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SK Innovation invests in U.S. bioenergy startup Fulcrum to acquire waste gasification technology
SEOUL -- SK Innovation, an intermediate holding company of SK Group, will invest $20 million in Fulcrum Bioenergy, a U.S. waste-to-fuel specialist that converts household garbage into low-carbon transportation fuels, to learn about waste gasification, which is seen as a promising technology in the waste-to-energy market. Waste gasification is a chemical process that can help turn biomass into synthetic gas (syngas) for refinery use or power generation. It will become a relatively cheaper source
July 13, 2022
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Dae Sun shipyard wins first order to build 22,000-ton luxury cruise ship
SEOUL -- South Korean shipyards boast the best shipbuilding technology in the world, especially in the segment of liquefied natural gas carriers, but European competitors are still good in world-class luxury cruise ships and yachts that require a high degree of workforce specialization and sophisticated technologies. Dae Sun Shipbuilding & Engineering, a mid-sized South Korean shipyard that has built coastal car ferries, will build a 22,000-ton luxury cruise ferry on an order from Pan Star,
July 11, 2022
