The Korea Herald

BASF seeks sustainable growth

Chemical firm also aims to boost presence in Asian construction marketLUDWIGSHAFEN, Germany ― Chemical plants have been associated with toxic materials harming the air, water and ecosystem, a major hurdle to the industry’s sustainable growth. BASF, a leading global chemical firm, shows how technology, strategy and devotion to the community can tackle these challenges. The company based in Ludwigsh

Industry March 13, 2011

SK E&S, Kolon to build steam plant in Gimcheon

SK Energy & Service, a local provider of city gas and electricity, said Thursday it began the construction of a steam power generation plant in Gimcheon, South Gyeongsang Province, together with Kolon Engineering & Construction. The SK E&S and Kolon will jointly invest 250 billion won ($220 million) for the plant which has a capacity to produce 1.5 million tons of steam a year, the firm said. SK

Industry March 10, 2011

SK E&S, Kolon to build steam plant in Gimcheon

KORES drops bid for Australia coal producer

A consortium led by state-run Korea Resources Corp. has dropped a bid for an Australian coal producer to focus more on other businesses, KORES said Thursday.“Coal is no longer a priority when it comes to our business. We have been concentrating more on developing other minerals such as rare earth metals and lithium lately,” a KORES official told The Korea Herald. The consortium also includes local

Industry March 10, 2011

KOTRA to offer consultations to foreign firms

State-run Korea Trade-Investment Agency said Thursday that it will offer visiting consulting services for foreign firms in the country, aiming to boost their investments. “The consulting service is expected to raise the amount of foreign direct investments in the country, as we will visit foreign firms here and try to solve their difficulties from now on,” the trade agency said. The Investment Con

Industry March 10, 2011

South Korea to bolster support for exports of nuclear plants

South Korea plans to bolster the country’s financing capabilities, aiming to back its firms with more plant-building projects overseas, the government said Wednesday. The government said it is planning to launch a task force led by the Ministry of Strategy & Finance, in collaboration with the Ministry of Knowledge Economy and financial institutions such as Financial Services Commission, Ex-Im Bank

Industry March 9, 2011

GS head stresses technology, mutual growth

GS Group chairman Huh Chang-soo stressed the significance of original technology and mutual growth with suppliers on Tuesday during his visit to a GS Caltex lubricants plant in Incheon, Gyeonggi Province.“GS has been showing a strong performance overseas with its solid base in the domestic market. I believe we can become a leading global firm if we secure original technologies with which we can co

Industry March 8, 2011

GS head stresses technology, mutual growth

Yuhan-Kimberly gets organic certification

The Anyday feminine hygiene product brand from Yuhan-Kimberly has received eco-friendly certification for five consecutive years. The Well-being Certification, granted by Korea Management Association Registrations & Assessments Inc., recognizes a domestic product’s functionality, safety and its environmental compatibility.As well as existing Anyday products, new Anyday Organic Cotton, made wholly

Industry March 8, 2011

Yuhan-Kimberly gets organic certification

Korea ups rare earth reserve target

South Korea is to increase its rare earth reserves to around 1,500 tons by 2014 amid fierce global competition to ensure a stable supply.The new target for a group of 17 scarce metals key to mobile devices, electric vehicles and other high-tech products, would meet the local industrial demand for 100 days, the Ministry of Knowledge Economy said Monday.The government initially set the goal at 1,200

Industry March 7, 2011

Korean firms favored to win UAE rail project

Two Korean-led consortia satisfy bid qualifications for $20b railroad planTwo consortia including Korean enterprises passed the pre-qualification criteria for a $20 billion railway project in the United Arab Emirates, raising hopes for the country’s first-ever railway construction export, state-run Korea Trade-Investment Promotion Agency said Friday.The list of firms involved in the bid includes b

Industry March 4, 2011

Korea to spend W9b on renewable energy projects

The government will set up a 9 billion won ($7.8 million) fund this year to assist local firms’ clean energy projects overseas. The government’s latest move is part of the country’s efforts to make $40 billion from exports related to renewable energy such as photovoltaic and wind power by 2015.“The global renewable energy market is projected to be highly prospective, and thus will likely push up t

Industry March 3, 2011

[Meet the CEO] KORES spearheads Korea’s rare earth search

State-run mineral developer looks to Africa, South America to ensure stable supply of resourcesKorea Resources Corp. is at the forefront of Korea’s drive to secure stable supplies of natural resources including rare earths crucial to its high-tech economy.Global competition is growing to secure sources of 17 scarce metals used to make cutting-edge products such as mobile phones, electric cars, win

Companies March 2, 2011

[Meet the CEO] KORES spearheads Korea’s rare earth search

Libyan unrest worries Korea

The intensifying turmoil in Libya and the Middle East is feared to serve a major blow to the Korean economy and its firms doing business in the region. Korean builders seem to be hit hardest by the political crisis as most of their projects there have been put on hold and workers have fled Libya during the past week. Local firms’ unpaid fees from their Libyan partners have reached about $19 millio

Feb. 28, 2011

Korea raises energy alert over oil prices

Measures in force to reduce energy useSouth Korea raised its energy alert level on Sunday and will launch a set of emergency conservation measures on Monday to counter surging crude oil prices, the Ministry of Knowledge Economy said. The government upgraded the country’s energy alert level from “blue” to “yellow,” the third-highest in the country’s four-tiered system. The country issued the “blue”

Feb. 27, 2011

Hyundai E&C seeks further overseas expansion

After garnering record-high overseas orders last year, Hyundai Engineering & Construction Co. is pushing harder to expand its presence in the world though diversification of its projects and markets. The country’s largest builder aims to become a global top 20 builder by 2015 under its long-term growth plan Vision 2015 launched last year. By the target year, the company expects to achieve 23 trill

Industry Feb. 27, 2011

Hyundai E&C seeks further overseas expansion

BASF to invest $3.1 billion in Asia by 2015

BASF chief executive Jurgen Hambrecht speaks during the firm’s yearly press conference in Ludwigshafen, Germany on Thursday.(BASF)LUDWIGSHAFEN, Germany ― Leading global chemical firm BASF plans to expand its presence in Asia by investing 2.3 billion euros ($3.1 billion) over the next five years, company officials said Thursday.The Germany-based firm’s aggressive investment plan comes as the Asia-P

Industry Feb. 25, 2011

BASF to invest $3.1 billion in Asia by 2015

Articles by 고영아