Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
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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Japan officially removed from South Korea's whitelist
South Korea excluded Japan from its export controls whitelist Wednesday in retaliation for Tokyo’s earlier decision to remove Seoul from its list of favored trade partners, as bilateral relations have slumped to the lowest levels since normalizing diplomatic ties in 1965.“The Ministry of Trade, Industry and Energy has published the revision of the nation’s trade controls on strategic items in an official gazette and it took effect from Wednesday,” said the ministry spokes
Industry Sept. 17, 2019
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Hanwha Total expands ethylene production
Hanwha Total Petrochemical has completed the expansion of its ethylene production plant and has begun commercial operation with an aim of generating 590 billion won ($496 million) more in sales each year, the firm said Tuesday. The petrochemicals firm has injected a combined 540 billion won since April 2017 to complete the side gas cracker of the naphtha cracking center in South Chungcheong Province. The new facilities are capable of producing 310,000 metric tons of ethylene and 130,000 tons of
Industry Sept. 17, 2019
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South Korea closely monitors Aramco setback
The South Korean government and oil refineries held an unscheduled meeting Monday in response to the setback of Saudi Arabian oil facilities being hit by drone strikes, agreeing that there will be no supply issues for the time being and pledging to closely watch developments.The Ministry of Trade, Industry and Energy convened the emergency meeting with local oil refiners -- S-Oil, Hyundai Oilbank, GS Caltex and SK Innovation -- to inspect supply issues, after President Moon Jae-in ordered the go
Industry Sept. 16, 2019
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South Korea set to exclude Japan from whitelist this week
South Korea is set to exclude Japan from its export control whitelist this week in response to Tokyo’s earlier decision to remove Seoul as a preferred trading partner and impose tighter controls on exports of high-tech materials that Korean tech firms need, officials said Sunday. Since the Aug. 12 announcement by Industry Minister Sung Yun-mo that Korea would drop Japan as a preferred trading partner, the ministry has completed the necessary administrative steps, such as soliciting opinion
Industry Sept. 15, 2019
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