Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
New KAI chief urges focus on winning orders
The new chief executive officer of aerospace and defense company Korea Aerospace Industries has urged his employees to focus all of their capabilities on winning orders to overcome the management crisis, the firm said Sunday. “Despite the harsh environment, KAI has achieved remarkable growth through the efforts of its employees and partner companies as well as support from the government. However, the company is in a crisis due to stagnant sales and orders over the past five years,&rd
Industry Sept. 29, 2019
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SK Innovation accuses LG Chem of reneging on patent deal
SK Innovation on Sunday expressed regret over the patent infringement lawsuit recently filed against it by LG Chem with a US court, as they had agreed five years ago not to sue each other on one particular patent case.Vowing a befitting response as the legal battle rages, SK Innovation said, “We will respond strongly by taking all possible legal actions,” lashing out at LG Chem for failing to create a virtuous cycle through fair and cooperative competition.The remarks came as LG Chem
Industry Sept. 29, 2019
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Samsung Heavy develops fuel cell-powered crude oil tankers
Samsung Heavy Industries has become the first shipbuilder to develop the world’s first fuel cell-powered aframax crude oil tankers in response to the International Maritime Organization regulations strictly limiting carbon dioxide emissions. Samsung Heavy said Thursday it acquired Approval in Principle, or AiP, by Oslo-based international accredited registrar and classification society DNV GL, for its fuel cell-powered aframax crude oil tanker. AiP is a process to verify technological
Industry Sept. 26, 2019
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LG CNS sets up JV with Megazone Cloud
South Korea’s LG CNS, an information technology services subsidiary of LG Corp., said Thursday it is set to establish a joint venture specializing in cloud conversion and operations with Megazone Cloud, the largest cloud management company here.The companies aim to take the lead in the cloud conversion market through their JV. They have signed a joint investment agreement. After discussing the detailed implementation plan for about three months they hope to finalize the JV’s establis
Industry Sept. 26, 2019
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HHI to localize materials with Posco
Hyundai Heavy Industries said Thursday it has partnered with Korean steelmaker Posco to localize materials for liquefied natural gas tankers. HHI said it has recently applied Posco’s 9 percent nickel steel to fuel tanks -- with a model name of Hi-CIX -- for 180,000-ton LNG propulsion vessels in order to localize and stabilize the supply of core materials for cryogenic tanks. Nine percent nickel steel is a material that can maintain strength and toughness even in cryogenic environments
Industry Sept. 26, 2019
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Posco International embarks on Ukraine grain export terminal
Posco International, a trading subsidiary of Posco, has become the first Korean company to complete construction of an overseas grain export terminal, as it went into full operation, the firm said Wednesday. The new grain terminal at the Ukrainian Black Sea port of Nikolayev, which is owned by Posco International with a 75 percent stake, is one of the largest export ports in the southern Black Sea. It is capable of shipping 2.5 million tons of grains such as wheat, corn and soybeans annually.The
Industry Sept. 25, 2019
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KAI’s unmanned chopper succeeds in vertical take-off, landing
South Korean aerospace and defense company Korea Aerospace Industries said Tuesday it was successful in flying an unmanned helicopter in its first flight. The company said its unmanned helicopter NI-600VT, or Night Intruder-600 Vertical Take-off & Landing, showed hovering and horizontal direction conversion functions at the Goheung Aerospace Center located in South Jeolla Province. And the copter confirmed its flight control performance and safety. The NI-600VT copter is a reformed vers
Industry Sept. 24, 2019
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South Korea to purchase US LNG worth $9.6b
South Korea’s state-run Korea Gas Corp. signed a long-term agreement with British energy company BP to buy US liquefied natural gas, the first LNG deal between the two countries under the Donald Trump administration, officials said on Tuesday. On Monday, Korea Gas Corp. signed a 15-year contract with BP in Washington to purchase 1.58 million tons of US liquefied natural gas on a yearly basis starting from 2025. The seller, BP, can extend the term for three years if desired.The signing
Industry Sept. 24, 2019
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US energy institute says Doosan Heavy needs forensic audit
Doosan Heavy Industries’ high dependence on nuclear and fossil fuel power has led to serious financial troubles, and it is time for the firm to undergo a forensic audit, as its financial results raise important fiduciary questions, according to a US-based energy economics institute on Monday. “The past five years have been dire for its shareholders and the stock prices of the firm have fallen 74.8 percent,” said Melissa Brown, director of energy finance studies at the Inst
Industry Sept. 23, 2019
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Hyosung’s spandex plant starts operation in India
South Korean industrial conglomerate Hyosung’s spandex plant in India went into commercial operation Friday, the firm said Monday. The plant, near Aurangabad Industrial City on a site that covers about 400,000 square meters, is capable of producing 18,000 tons of spandex per year. Hyosung, which entered India in 2007, generates more than $300 million in annual sales there. The company established an ultra-high-voltage breaker production plant in Pune in 2016.CEO Cho Hyun-joon said, &l
Industry Sept. 23, 2019
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Tokyo willing to discuss export controls with Seoul
In response to the complaint filed by the South Korean government with the World Trade Organization on the subject of Japan’s export control measures, Tokyo has expressed its willingness to have bilateral consultations with Seoul, a day before the 10-working day deadline set by the WTO, officials said Friday. Japan’s response could be the first step in resolving the Korea-Japan trade dispute triggered by Japan’s export restrictions. “The Japanese government has resp
Industry Sept. 20, 2019
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Kaan show attracts Pattaya visitors
Pattaya on the eastern coast of the Gulf of Thailand may be better known for its nightlife and water sports. But the city also offers the Kaan show, a theatrical experience that combines live-action and cinema, stage performance and advanced technologies. The 60-minute show is inspired by classic Thai literature. It features more than 90 actors performing magic supported by production staff with international experience, advanced technologies and a state-of-the-art audiovisual system.
Culture Sept. 19, 2019
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Posco backs startups in Pohang, Gwangyang
South Korean steelmaker Posco said Thursday it has launched a startup committee to foster companies in the cities of Pohang, North Gyeongsang Province, and Gwangyang, South Jeolla Province, and to enhance communication among startups, regional governments and agencies. The committee, which comprises 197 startups, is supported by 17 regional governments and organizations, including the Research Institute of Industrial Science & Technology, Postech and Techno Parks. It plans to periodical
Industry Sept. 19, 2019
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Posco gears up for stainless steel sales for vessel scrubbers
South Korean steelmaker Posco is ready for commercial sales of super-alloy stainless steel for scrubbers necessary for vessels that should abide by new environmental rules by the International Maritime Organization, the company said Wednesday.This year, Posco succeeded in commercializing super-alloy stainless steel, labeled S31254, for vessel scrubbers, and it has been supplying the steel to clients including Hyundai Heavy Industries Power Systems, Kangrim Heavy Industries and STI. Installi
Industry Sept. 18, 2019
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S. Korea urges China to end anti-dumping duties on solar materials
South Korea has urged China to terminate its anti-dumping measures on Korean polycrystalline silicon for solar panels, claiming they do not pose any domestic threat, officials said Wednesday. A delegation led by Chung Hae-kwan, director general of Trade Ministry’s trade legal affairs, attended a hearing in Beijing together with officials of related Korean companies, including OCI and Hanwha Chemical. The Chinese government has imposed anti-dumping duties on Korean and US polycrystalline si
Industry Sept. 18, 2019
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