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Sat, July 22, 2017 | 15:39

Biz & Tech > Heavy industries >

POSCO seeks to be smarter

POSCO has come up with a better way to spread its smart technology throughout all its subsidiaries and clients, demonstrated during the Smart POSCO Forum 2017 at the POSCO Center in Seoul, Wednesday. “POSCO must keep working hard for the realization of Smart POSCO in the Fourth Industrial Revolution,” POSCO Chairman Kwon Oh-joon said. “The whole manufacturing process will fol...

Heavy industries | 2017-07-19 17:17

SK Innovation expected to recover in second half

Despite speculation over lower-than-expected second-quarter operating profit, SK Innovation is expected to bounce back in the second half of the year, according to market watchers, Tuesday. Following a record earnings surprise in the first quarter, SK is anticipated to report an operating profit of approximately 510 billion won ($455 million) in the April-to-June period due t...

Heavy industries | 2017-07-19 16:58

3rd-generation chief to lead Hyosung

Hyosung faced a true transition of generations in management last week with Cho Suck-rai, former chairman of the conglomerate, leaving his post. Expectations are that his son, Hyosung Group Chairman Cho Hyun-joon, will have to take greater responsibility to boost the firm's global business as its third-generation leader. The conglomerate said in a regulatory filing late last ...

Heavy industries | 2017-07-17 16:59

DSME wins another shipbuilding deal with Greece-based company

Daewoo Shipbuilding and Marine Engineering (DSME) has clinched another contract with Greece-based Maran Tankers Management to build four 318,000-cubic-meter very large crude oil carriers (VLCCs), DSME said Thursday.

Heavy industries | 2017-07-14 16:18

[INTERVIEW] Steel pipes maker Vallourec sees potential in shale

President Moon Jae-in’s pledge to gradually shift away from nuclear power plants in the country’s energy mix may have prompted an immediate question among Korean consumers: will my electricity bill go up? Philippe Crouzet, chairman of the management board of the French steel pipe manufacturer Vallourec, stressed the potential in shale gas to produce energy, electricity. “Shal...

Heavy industries | 2017-07-14 13:04

KHNP fails to approve Shin-Kori reactor suspension

Korea Hydro & Nuclear Power (KHNP) failed to gain approval from its board to suspend the construction of the No. 5 and 6 reactors at the Shin-Kori Nuclear Power Plant, due to its union’s protest, the company said Thursday. The state-run firm had initially planned to hold the board of directors’ meeting at its headquarters in Gyeongju, South Gyeongsang Province, at 3 p.m. But the seven outside directors weren’t able to take part as unionized workers physically stopped them from entering the building. The union has been protesting the Moon Jae-in administration’s decision to halt the ongoing p...

Heavy industries | 2017-07-13 21:21

KEPCO likely to win nuclear deal in UK

Korea Electric Power Corp. (KEPCO) will likely build a nuclear power plant in Britain as the European nation moves closer to accepting Korea’s next-generation nuclear reactor. The state-run utility company has been negotiating with Toshiba to buy the debt-ridden Japanese firm’s 60 percent stake in NuGen, a British nuclear consortium. French utility firm ENGIE holds the remaining 40 percent stake in the consortium that plans to start building a nuclear power plant near Sellafield, Britain’s nuclear fuel reprocessing and decommissioning site, in 2018.

Heavy industries | 2017-07-12 18:25

Lotte Chemical lists Malaysian unit

Lotte Chemical listed the shares of its Malaysian unit on the stock market there, raising about 1 trillion won ($870 million) in fresh funds, the company said Tuesday. Lotte Chemical Titan floated 2.38 billion shares on the Kuala Lumpur Stock Exchange, worth 4 trillion won. Of the 2.38 billion shares, 25 percent are traded on the bourse, while the remaining 75 percent are hel...

Heavy industries | 2017-07-11 17:08

KHNP faces complaints from constructors over Moon's nuclear exit policy

A consortium of three construction companies recently delivered complaints to Korea Hydro & Nuclear Power (KHNP) for halting construction of the No. 5 and 6 reactors in the Shin-Gori Nuclear Power Plant. KHNP is a subsidiary of the Korea Electric Power Corp.

Heavy industries | 2017-07-11 09:01

Hyundai Heavy refutes union's 'fake news'

Hyundai Heavy Industries (HHI) has rebutted its labor union’s “distorted” information about its management situation, calling on union workers to refrain from making excessive demands as it struggles to get back on track. Korea’s largest shipbuilder said Wednesday that the union has been spreading false information about the number of ship orders and other business issues to secure the upper hand in ongoing wage negotiations. “Union leaders must stop distorting the facts to make the company appear to be in better shape than it actually is,” an HHI official said. “What they should do instead ...

Heavy industries | 2017-07-05 17:43

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Park's impeachment