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1 month ago | 
kedglobal.com | Woo-Sub Kim |Jin-Won Kim |Hyung-kyu Kim
POSCO, the world’s seventh-largest steelmaker, is seeking to invest in smaller rival Hyundai Steel Co.'s first overseas plant in the US, in exchange for local production of its own steel products in the country to mitigate hefty 25% US tariffs on steel imports. If the two strike a deal, it would mark Korea’s top two steelmakers’ first joint investment and production project abroad.
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2 months ago | 
kedglobal.com | Hyung-kyu Kim
Hanwha Aerospace Co., a leading South Korean defense company, said on Thursday it has signed a 370 billion won ($254 million) deal to supply K9 self-propelled howitzers to India. The defense affiliate of Korea’s chemicals-to-defense conglomerate Hanwha Group will deliver the artillery systems to the Indian Ministry of Defense in collaboration with Indian engineering and manufacturing company Larsen & Toubro (L&T).
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2 months ago | 
kedglobal.com | Woo-Sub Kim |Jin-Won Kim |Hyung-kyu Kim
South Korea’s chemical-to-defense conglomerate Hanwha Group Chairman Kim Seung-youn will hand over half of his holdings in the conglomerate’s de facto holding firm Hanwha Corp. to his three sons, effectively ushering in a third-generation leadership era at one of the country’s largest chaebols. The group announced on Monday that Chairman Kim will transfer 11.32% of his 22.65% stake in Hanwha Corp.
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2 months ago | 
kedglobal.com | Woo-Sub Kim |Hyung-kyu Kim
South Korea’s Hyundai Steel Co. has chosen Donaldsonville, a city in Louisiana, as the location for its $5.8 billion US steel mill, marking a major strategic investment in the US steel industry. Hyundai Steel is also in discussions with multiple investors, including US automakers and steel producers, to secure equity investments to help finance the multibillion project, people familiar with the matter said on Friday.
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2 months ago | 
kedglobal.com | Hyung-kyu Kim |Jin-Won Kim
Hyundai Steel Co. is set to shut down its reinforced bar plant in Incheon in April to trim output as steel bar prices are hovering near a four-and-a-half-year low, slipping below its breakeven point, according to industry sources on Thursday. The planned suspension marks the first such move by the largest steelmaker in South Korea at its flagship manufacturing facility -- the country’s largest rebar plant -- since its founding.
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2 months ago | 
kedglobal.com | Hyung-kyu Kim |Woo-Sub Kim
Samsung Heavy Industries Co., a major Korean shipbuilder, has made a breakthrough in its liquefaction technology for floating liquefied natural gas (FLNG) production facilities, challenging long-standing dominance by US rivals. The technology, known as SENSE IV, is often referred to as the “heart” of the FLNG unit, a massive offshore structure that extracts, liquefies and transfers natural gas from undersea fields.
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2 months ago | 
kedglobal.com | Hyung-kyu Kim
LG Energy Solution Ltd. will supply 1 gigawatt-hour of energy storage system (ESS) batteries to a state-owned utility company in Poland in a deal expected to help South Korea’s No. 1 lithium-ion battery maker mitigate the prolonged electric vehicle market slowdown. The company announced on Tuesday that it won an order to deliver 1 GWh of lithium-iron phosphate (LFP) batteries to Poland’s state-owned largest energy provider PGE. This is large enough to power 2,200 three-person households per month.
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2 months ago | 
kedglobal.com | Ji-eun Ha |Hyung-kyu Kim
Alaska Governor Mike Dunleavy visited South Korea on Monday to hold a series of one-on-one meetings with top executives from Korean energy and steel companies as the state seeks partners for its $44 billion liquefied natural gas (LNG) development project, according to diplomatic and energy industry sources. Originally scheduled for two days, Dunleavy’s trip has been extended to Wednesday to accommodate individual discussions with firms, including SK, POSCO and SeAH Steel groups on Wednesday.
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2 months ago | 
kedglobal.com | Hyung-kyu Kim
South Korea’s largest shipbuilder, HD Hyundai Heavy Industries Co., is deepening its partnership with TerraPower LLC, the U.S. nuclear venture firm founded by Bill Gates, to accelerate the commercialization of the next-generation small modular reactor (SMR).
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2 months ago | 
kedglobal.com | Hyung-kyu Kim |Woo-Sub Kim
GEOJE, South Gyeongsang – At a huge shipyard operated by Samsung Heavy Industries Co. on Geoje, an island in South Gyeongsang province, some 390 km south of Seoul, several hundred workers, or maybe more, were assembling a new offshore structure for Malaysia’s Petronas, one of the world’s top gas and oil firms. The mammoth structure, known in the industry as a floating liquefied natural gas (FLNG) production facility, weighs 50,000 tons and span 2.5 football fields.
