Taihan Cable & Solution has successfully developed the world's most advanced HVDC cable.Taihan (CEO Song Jong-min) announced on August 2 that it has completed the development of a 525kV VSC (Voltage Source Converter) HVDC (High Voltage Direct Current) land cable system and obtained international
LG Chem announced on April 13 that it has signed a joint research and development agreement with North American eco-friendly fuel company Gevo to commercialize bio-propylene by 2026.Gevo possesses the source technology necessary for production of sustainable aviation fuel (SAF) and bioplastics with
The South Korean government is planning to inspect every port crane supplied by China. This is because the U.S. government recently pointed out that cranes built by Shanghai Zhenhua Port Machinery Company (ZPMC) may be used for espionage purposes. At present, a total of 478 Chinese port cranes are i
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. 4Q22P consolidated operating loss of KRW275.9bn (turn to red YoY): Far below consensus ㅡ Hyundai Steel reported 4Q22P revenue of KRW6.0tn (-7.1% YoY, -14.6% QoQ), operating loss of KRW275.9bn (TTR YoY, TTR
Hyundai Steel is considering making semifinished products with molten iron, as it cannot make finished products with molten iron due to a prolonged labor strike.The company's unionists have been staging a guerrilla-type strike for more than a month, making it difficult to put the molten iron fro
Hyundai Steel has decided to shut down its cold rolling mills at Dangjin Steel Works in South Chungcheong Province for two weeks. The labor union’s guerrilla-style strike has disrupted the supply of hot-rolled steel sheets required to produce cold-rolled steel sheets.Hyundai Steel will shut down its
Amid growing concerns about the supply of steel products due to flood damage at POSCO’s Pohang Works, Hyundai Steel’s labor union threatened that it would go on strike if the management does not come to the negotiation table.In a news conference on Sept. 19, the four branches of Hyundai Steel (Dangj
About 10 Hyundai Steel union members have occupied the president’s office at Dangjin Steel Works since May 2 and have been protesting, calling for payment of special incentives. As a result, Hyundai Steel president Ahn Dong-il has been unable to work at the company’s main production facility for mor
So-called “aristocratic labor unions” are attempting to raise wages by hundreds of millions of won, citing price hikes. Labor unions of major Korean conglomerates are putting pressure on the management by threatening to go on strike if their wage demands are not met, even in the midst of a stagflati
The Korea Cargo Workers Union (KCWU), which initiated a nationwide strike on June 7 refusing to transport steel and cement, is expanding its strike to the automobile sector.The union told its members to stop delivery of auto parts from 2 p.m. on June 8. It said in a statement that it decided to deal
Hyundai Steel has finally sued its labor union for illegally occupying the president’s office for a month.Hyundai Steel filed a complaint with the Dangjin Police Station on May 31, stressing that the labor union has been illegally occupying the office of the company president at Dangjin Works. It is
Labor-management conflict is escalating at Hyundai Steel over payment of incentives.Some members of the steelmaker's labor union have occupied the company president’s office at Dangjin Steelworks in South Chungcheongn Province since May 2. Yet the occupation has caused no production disruptions.
A Hyundai Rotem worker was seriously injured in an explosion of an oxygen pipe at Hyundai Steel's Dangjin Steelworks on April 27. The employee was testing an oxygen production facility built by Hyundai Rotem at the steelworks.According to the Ministry of Employment and Labor, the accident occurr
Taihan Cable and Solution announced on March 10 that it will establish a joint venture in Saudi Arabia to produce ultra-high voltage cables.It is the first ultra-high voltage cable plant to be built overseas by Taihan Cable and Solution. The company has joined hands with Mohammed Al-Ojaimi Group, a
Hyundai Steel said on Feb. 24 that it will supply 145,000 sheets of 1.8 GPa ultra-high strength hot stamping steel to Hyundai Motor every year beginning from 2022. This is an amount that can be used for production of about 30,000 electric vehicles. The steel will be used for Hyundai Motor’s next-gen
Hyundai Steel announced on Feb. 10 that it has succeeded in volume production of 1.8 Gigapascal (GPa) premium hot stamping steel for the first time in the world.The company developed the new steel product in cooperation with the Hyundai Kia Namyang R&D Center.Hyundai Steel is supplying the new steel
Hyundai Engineering announced on Jan. 9 that it has won the Indonesia LINE project worth US$757 million.The company will build a naphtha cracking center (NCC) for the LINE complex, a super-large petrochemical complex being promoted in the Cilegon area 90 kilometers northwest of Jakarta, the capital
Hyundai Steel has started to reduce greenhouse gas emissions by using cattle manure in its steelmaking process. The plan is to recycle livestock waste and reduce greenhouse gases by using a solid fuel based on cow manure instead of coal.Hyundai Steel signed a business agreement with the Ministry of
Samsung Electronics and Hyundai Steel have developed a new wastewater recycling technology to reuse sludge from the semiconductor manufacturing process for steelmaking, the two companies announced on Sept. 27.Wastewater sludge is a precipitate from a wastewater treatment process and accounts for mor
Non-regular workers of Hyundai Steel's partner companies have occupied the Control Center of the company’s Dangjin Steel Mill for four days, raising concerns about production disruptions.About 100 members of the non-regular employee union at Hyundai Steel have being occupying the control center