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Reporter : Park Jae-hyuk
Tue, May 30, 2023 | 17:35
Hanwha gets conditional approval for acquiring DSME
The Fair Trade Commission (FTC) granted only conditional approval on Thursday for Hanwha Group's acquisition of Daewoo Shipbuilding & Marine Engineering (DSME), accepting the demands from the shipbuilder's rivals to ban the conglomerate from unfairly excluding other companies from the local warship market.
POSCO Future M wins $23 billion order for cathode materials from LGES
POSCO Future M signed a contract with LG Energy Solution (LGES) on Wednesday to supply $23 billion worth of cathode materials to the electric vehicle (EV) battery manufacturer over the next seven years.
Chairman of fisheries cooperatives promises radioactivity checks on seafood products
The newly elected chairman of the National Federation of Fisheries Cooperatives (NFFC) promised on Wednesday that the federation will continue conducting radioactivity inspections on seafood products sold nationwide. He made the promise to dispel public worries over the discharge of radioactive wastewater from Japan's Fukushima Daiichi Nuclear Power Plant.
Samsung SDI, GM to establish $3 billion battery joint venture in US
Samsung SDI and General Motors (GM) announced on Tuesday that they agreed to establish a $3 billion joint venture in the U.S. to manufacture battery cells for electric vehicles (EV). The announcement was made during President Yoon Suk Yeol's state visit to Washington, D.C. for a summit with U.S. President Joe Biden.
Korean battery makers wary of growing pressure from US labor union
The newly elected president of the U.S. United Auto Workers (UAW) is unnerving Korean battery manufacturers by urging their joint ventures with U.S. carmakers to raise wages and guarantee job safety, according to industry officials, Tuesday. Amid growing concerns over his request having a negative impact on their earnings, battery makers have maintained a cautious stance, con...
SK D&D, Yanolja Cloud set up joint proptech business venture
SK D&D, a real estate developer, and Yanolja Cloud, an artificial intelligence (AI) based software-as-a-service company, announced on Tuesday that they established a joint venture named Connectfy Cloud, in order to create a proptech business. Proptech, a portmanteau of the words “property” and “technology,” refers to the application of information technology and platform econ...
BBQ in hot seat for charging extra $2.30 for chilled meat
Controversy is rising over an additional 3,000 won ($2.30) charged for Genesis BBQ's 20-piece hot wings when made with chilled instead of frozen chicken.
Korean firms walk fine line between Russia, Ukraine amid growing tensions
Growing tensions between Seoul and Moscow, after President Yoon Suk Yeol's controversial remarks on the Ukraine war, has prompted Korean companies operating in Russia to be wary of provoking the world's largest country - by land area - according to industry officials, Friday.
Korean steelmakers wary of Washington's inconsistency in tariff policies
Concerns are rising over the possibility of Korean steelmakers losing ground in the U.S. market, as Washington recently overturned its previous opinion that the Korean government was not subsidizing electricity used by the steelmakers, according to industry officials, Thursday.
Smear campaign intensifies between Hanwha, HD Hyundai
The battle between Hanwha and HD Hyundai over the acquisition of Daewoo Shipbuilding & Marine Engineering (DSME) is about to come to an end. The Fair Trade Commission (FTC) said it will decide on April 26 whether to approve Hanwha's acquisition, via a 2-trillion-won rights offering, of the world's third-largest shipbuilder in terms of orders.
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