Hyundai Heavy joins hands with Saudi Aramco in hydrogen project This photo provided by Korea Shipbuilding & Offshore Engineering Co. shows a shipyard of its shipbuilding affiliate Hyundai Heavy Industries (Yonhap) Hyundai Heavy Industries Holdings said Wednesday that it has signed a deal with Saudi Arabia's state-run oil firm Saudi Aramco to cooperate on a

Kumho Petrochemical seeks future competitiveness Kumho Petrochemical plant in Yeosu, South Jeolla Province / Courtesy of Kumho Petrochemical   Kumho Petrochemical will reorganize its business structure to secure the company's future competitiveness.The petrochemical giant said Tuesday that it plans to fully focus on seeking stable growth at a time when the global economy is undergoing

(LEAD) Major biz to invest 43 tln won in hydrogen economy by 2030 (ATTN: UPDATES with meeting between Hyundai Motor chief and SK Group counterpart in paras 8-10) By Kang Yoon-seung   SEOUL, March 2 (Yonhap) -- South Korea's five major conglomerates announced Tuesday they plan to invest 43 trillion won (US$38.2 billion) in the

South Korea’s Exports Increase 9.5% in Feb. YoY Sinseondae Port in Busan The Ministry of Trade, Industry and Energy announced on March 1 that South Korea’s exports increased 9.5 percent year on year to US$44.81 billion last month. The monthly exports increased for the fourth consecutive month. Last month, South Korea’s average daily exports increased

LG Chem makes sustainability core of biz model Researchers of LG Chem's Future Technology Research Center test a newly developed biodegradable material in this file photo. / Courtesy of LG Chem LG Chem is making adjustments across its business lines to ensure it meets sustainability goals.The company unveiled sustainability strategies last year centered on curbing

SK Innovation to liquidate 49% of SK Global Chemical for green transition SK Innovation’s petrochemical plant in Ulsan (SK Innovation) SK Innovation said Tuesday that it would sell off 49 percent of its petrochemical subsidiary, SK Global Chemical, as part of a strategy to unload carbon-intensive assets and focus its investments on green businesses. SK

S. Korea's 2020 growth ranks 3rd among major nations SEOUL, Feb. 23 (Yonhap) -- South Korea's economic growth rate ranked third among major economies across the globe in 2020 despite an on-year contraction due to the coronavirus pandemic, data showed Tuesday.   Asia's fourth-largest economy contracted 1 percent last year from a year earlier, but

Korea Shipbuilding wins 540 bln won in orders from Asia, Europe, Africa By Nam Kwang-sik   SEOUL, Feb. 22 (Yonhap) -- Korea Shipbuilding & Offshore Engineering Co. said Monday that it has bagged orders worth a combined 540 billion won (US$489 million) from Asia, Europe and Africa.   The orders include nine ships -- three

S. Korea’s Feb. 1-10 exports up 70% on strong chip, auto demand South Korean exports are picking up faster than expected, with shipments in the first 10 days of February surging nearly 70 percent on year on robust demand for chips and automobiles, data showed. According to data released by the Korea Customs Service, the

S-Oil the only Korean refiner to report black in Q4 on petrochemicals S-Oil Corp. wholly owned by Saudi Aramco was the only refiner in Korea to turn out a profit in the final quarter last year thanks to its business portfolio with greater focus on high-end petrochemical business. The petroleum and refinery company said in