-
LIG Nex1 acquires domestic producer of communication equipment
SEOUL -- LIG Nex1, a South Korean defense contractor known for advanced missile guidance systems, acquired Innowireless, a promising IT company involved in the production of communication equipment, to diversify its business portfolio into the civilian wireless communication sector. LIG Nex1 said in a regulatory filing on November 6 that it has exercised a call option to acquire a 16.55 percent stake in Innowireless for 33.1 billion won ($29.4 million). As a result
November 6, 2020
-
Samsung shipyard embarks on designing technology for floating offshore wind turbine floater
SEOUL -- Samsung Heavy Industries, a major shipbuilder in South Korea, will develop technology for designing a key component for floating offshore wind turbines, citing its accumulated experience in building offshore plants, as part of an industry-wide campaign to localize related technologies. Samsung Heavy Industries (SHI) said that it has partnered with DNV GL, an international accredited registrar and classification society headquartered in Norway,
October 26, 2020
-
POSCO E&C wins deal to build waste incineration plant in Poland
SEOUL -- POSCO E&C, a construction arm of South Korea's top steelmaker Posco, has secured an order from a Polish municipal waste management company to build an eco-friendly waste incineration plant that would recover heat and electricity from treated municipal waste in Warsaw and nearby areas. The project worth 490 billion won ($436 million) calls for the design and construction of a new waste incineration plant capable of treating 264,000 tons of waste an
October 26, 2020
-
Self-sailing boat makes successful test voyage near Samsung shipyard
SEOUL -- Without direct human intervention, a 300-ton tug boat installed with self-sailing equipment changed its course to avoid collision with another boat coming across from the front in waters near South Korea's southern island of Geoje. The autonomous operation was supervised through the screen of an inland control tower that displayed a 360-degree view. The scene was highlighted in a video released by Samsung Heavy Industries (SHI), a ma
October 19, 2020
-
Daewoo's ammonia-powered container ship wins Lloyd's basic certification
SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has acquired basic certification from Lloyd's Register, a London-based maritime classification society, to design and build a large container ship through cooperation with a German ship engine manufacturer. Daewoo Shipbuilding & Marine Engineering (DSME) said it was in charge of basic design while MAN Energy Solutions was responsible for the development of a dual fuel propuls
October 6, 2020
-
KEPCO's board endorses investment in Vietnam's coal-fired power plant project
SEOUL -- The board of Korea Electric Power Corporation (KEPCO) endorsed investment in a project involving South Korean and Japanese companies to build a coal-fired power plant in Vietnam, overriding concerns over profitability and environmental contamination. The state power company aims to complete construction in January 2025. KEPCO said its board has approved the planned purchase of a 40 percent stake in the construction of a 1,200MW coal-fired power plant called Vun
October 5, 2020
-
Ammonia-powered tanker from Samsung Heavy acquires Lloyd's basic certification
SEOUL -- An ammonia-powered Aframax oil tanker which is under development in a multi-national project led by Samsung Heavy Industries, a major shipbuilder in South Korea, has acquired basic certification from Lloyd's Register, a London-based maritime classification society. An Aframax tanker has a deadweight between 80,000 and 120,000 metric tons. For the development of an ammonia-powered tanker, Samsung Heavy Industries (SHI) joined hands with fore
September 24, 2020
-
HMM opens fleet control center for efficient operation of smart ships
SEOUL -- To gain the upper hand in the era of smart and eco-friendly ships, HMM, a major shipping company in South Korea, has opened a comprehensive fleet control center for the safe and efficient real-time monitoring of smart ships built or ordered by the creditor-controlled company. It can remotely control ships in operation. The fleet control center, established at the research institute of HMM in the southern port city of Busan can identify risk factors in advance by ac
September 23, 2020
-
SK Group units invest in reclaimed land in return for wind farm operation
SEOUL -- The development of reclaimed land, which was created by the world's longest man-made sea barrier on South Korea's west coast a decade ago, has been slow, failing to attract useful investments. Environmental groups have expressed concern about a waste of taxpayers' money and pollution. A consortium of SK Group units including SK E&S and SK Broadband judged that Saemangeum near the southwestern port city of Gunsan is worthy of investment, based on a f
September 16, 2020
-
Hyundai auto group forges battery alliance with SK Innovation
SEOUL -- South Korea's Hyundai auto group joined hands with SK Innovation, a subsidiary of South Korea's SK Group, to establish an electric vehicle battery ecosystem, starting with cooperation in reusing or recycling spent batteries. The auto group aims to release 44 eco-friendly models by 2025, including 23 full-electric vehicles. So far, Hyundai Motor and its affiliate Kia Motors have used batteries mainly from LG Chem and SK Innovation (SKI). In December
September 8, 2020
