Business
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Hanwha Ocean wins U.S. Navy vessel maintenance contract
SEOUL, August 30 (AJP) - Hanwha Ocean has become the first Korean shipyard to win a contract for the U.S. Navy's vessel maintenance business. The Korean shipbuilder said Thursday that it has secured a deal for overhauling a 40,000-ton U.S. Navy logistics support ship. This contract involves the regular overhaul of large naval vessels and can only be carried out by companies certified under a Master Ship Repair Agreement (MSRA). The MSRA is a prerequisite agreement required by
August 30, 2024 -
SK hynix develops world's first 10nm-class 6th generation DRAM
SEOUL, August 29 (AJP) - SK hynix said Thursday it has successfully developed the world's first 16Gb DDR5 DRAM using 10nm-class 6th generation (1c) process technology. This breakthrough pushes the boundaries of memory process technology into the early 10nm range. The company expanded on its industry-leading 5th generation (1b) platform to create the 1c DDR5, minimizing potential errors and efficiently transferring performance advantages. By applying new materials to specific EUV
August 29, 2024 -
Czech PM's envoy to visit Korea to discuss cooperation over nuclear reactor deal
SEOUL, August 28 (AJP) - A special envoy from the Czech Republic is scheduled to visit Korea next week to discuss economic cooperation, signaling potential progress in negotiations for a nuclear power plant contract worth about 24 trillion won ($18 billion), industry sources said Wednesday. The envoy, representing Czech Prime Minister Petr Fiala, will be in Korea from Sept. 3 to 6. The Czech government is reportedly keen to discuss comprehensive industrial cooperation that Korea has
August 28, 2024 -
Samsung SDI, GM sign deal for U.S. battery joint venture
SEOUL, August 28 (AJP) - Samsung SDI, a Korean battery maker, and General Motors have signed a formal agreement to establish a joint venture for electric vehicle battery production in the U.S., the companies announced Wednesday. The venture will invest about $3.5 billion to build a battery cell manufacturing plant in New Carlisle, Indiana, with an initial annual production capacity of 27 gigawatt-hours. The plant is targeting mass production in 2027 and is expected to create ove
August 28, 2024 -
Shareholders approve merger between SK Innovation, SK E&S
SEOUL, August 27 (AJP) - Shareholders of SK Innovation and SK E&S on Tuesday approved a plan to merge the two SK Group units, creating Asia's largest energy company by November. SK Innovation, the group’s energy holding company, announced that 85.76 percent of attending shareholders voted in favor of the merger at an extraordinary general meeting. SK E&S, a highly profitable and unlisted affiliate, also held a shareholders' meeting and approved the proposal.
August 27, 2024 -
Westinghouse appeals against Czechia's selection of Korea Hydro & Nuclear for reactor construction
SEOUL, August 27 (AJU PRESS) - U.S. firm Westinghouse Electric Co. has filed an appeal with the Czech government against its selection of Korea Hydro & Nuclear Power (KHNP) as the preferred bidder to build new nuclear reactors, accusing the Korean firm of using its proprietary technology without permission. In July, the Czech government announced that KHNP had been chosen over French electric utility firm Électricité de France (EDF) for the project to construct at
August 27, 2024 -
U.S. to reassess environmental permit for Hyundai's Georgia EV plant: report
SEOUL, August 27 (AJU PRESS) - The U.S. federal agency Army Corps of Engineers has agreed to reevaluate the environmental permit for Hyundai Motor's 10 trillion won ($7.6 billion) electric vehicle (EV) plant in Georgia, following concerns raised by environmental activists, AP News reported on Monday. The decision comes after the Army Corps initially deemed the plant's water usage impact as "negligible." The reassessment was prompted by a proposal from Georgia envi
August 27, 2024 -
Probe finds two Samsung workers exposed to high levels of radiation
SEOUL, August 26 (AJU PRESS) – Two Samsung Electronics employees were exposed to radiation levels up to 188 times the annual safety limit during an incident at the company's plant in May, the nuclear safety authorities said Monday. The Nuclear Safety and Security Commission (NSSC) unveiled the interim results of its investigation into the incident during a session of the parliamentary science and technology committee. The incident occurred on May 27 at Samsung's Gih
August 26, 2024 -
HD Hydrogen acquires Finnish fuel cell tech firm Convion
SEOUL, August 26 (AJU PRESS) - HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Monday its subsidiary, HD Hydrogen, has acquired Finnish fuel cell specialist Convion Oy for about 72 million euros ($80 million). Helsinki-based Convion, established in 2012, is a leading provider of solid oxide fuel cell (SOFC) and solid oxide electrolyzer cell (SOEC) technologies, which are considered crucial for hydrogen energy production and utilization. HD KSOE said the acqu
August 26, 2024 -
Korea to require EV makers to disclose battery suppliers
SEOUL, August 26 (AJU PRESS) – The Korean government will require all electric vehicle (EV) manufacturers and importers to disclose their battery suppliers, and introduce an EV battery certification system in October, earlier than scheduled. The measures were announced following Sunday's meeting among high-level officials from the presidential office, relevant government branches and the ruling People Power Party (PPP) to address growing safety concerns after a fire involv
August 26, 2024
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PHOTOS: National Folk Museum showcases traditional funeral dolls
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PHOTOS: Seoul holds sign language cultural festival
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PHOTOS: KES 2024 opens at COEX, highlighting AI innovations
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BLACKPINK's Jennie makes Billboard Hot 100 debut with latest single
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British Embassy's roundtable meeting raises awareness of climate change
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Workers over 60 become largest employed age group in Korea for first time
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South Korea mulls sending inspectors to Ukraine to monitor North Korean troops in Russia
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U.S. stealth fighter completes maiden landing on Japanese vessel
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5.8 magnitude earthquake strikes Indonesia's Molucca Sea region
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North Korea dismisses allegations of troop deployment to Russia as 'groundless'