As international oil prices and refining margins both experienced a simultaneous decline in the fourth quarter of last year, the oil industry’s performance was once again placed in a state of emergency.In the worst-case scenario, four major oil companies -- SK Energy, GS Caltex, S-Oil, and HD Hyunda
Vietnam, to which President Yoon Suk-yeol will pay a three-day state visit beginning June 22, has become a center of research and development (R&D) for Samsung and LG for the future, becoming more than a global production outpost for them.Samsung posted sales of US$73.7 billion (about 95.3678 trilli
SK Geo Centric (“SKGC”) and Loop Industries (“Loop”), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester fiber, today announced they have signed a definitive Joint Venture Agree
A joint research team of Pohang University of Science and Technology and Sogang University has developed a silicon anode active material that is more stable than existing ones. According to the team, the developed material has at least 10 times the capacity of graphite if it is used in rechargeable
Hanwha Solutions has obtained eco-friendly certification for rPE (recycled polyethylene), a renewable raw material, and will expand the rPE market in earnest.Hanwha Solutions announced on Feb. 28 that it has obtained a certificate of the Global Recycled Standard (GRS) on rPE materials recycled from
SK Geo Centric (SKGC), SUEZ, and Loop Industries (Loop) announced on Feb. 15 (Montreal, Canada local time) that the Chemesis industrial platform in Saint-Avold, located in the Grand Est region of France, has been selected as the site for the first European Infinite Loop manufacturing facility.SUEZ i
The Fair Trade Commission (FCT) announced on Jan. 10 that it has approved the acquisition of Iljin Materials by Lotte Battery Materials USA, a wholly owned subsidiary of Lotte Chemical.Lotte Battery Materials USA is a holding company established by Lotte Chemical in June 2022 to promote the battery
Samsung Engineering, a plant construction subsidiary of Samsung Group, won a mammoth-sized ethylene plant construction project in Qatar.The company announced on Jan. 9 that it has won an EPC (engineering, procurement, and construction0 contract for Qatar RLPP Ethylene Plant Package No. 1 from Ras La
South Korean oil refining companies are expanding their business in the petrochemical industry. This is because oil refining is highly vulnerable to international oil price and refining margin fluctuations and environmental regulations are increasing worldwide.S-Oil decided to invest US$7 billion in
Many large Korean construction companies are moving to get a piece of the action as Saudi Arabia wants to partner with Korean builders in promoting the Neom City project. Yet, DL E&C, the No. 3 player in the Korean construction market, appears to have failed to jump on the bandwagon. DL E&C reduced
Samyang Group has completed Korea's first plant for commercial production of bioplastics with plant-based ingredients.On Nov. 16, Samyang Innochem, a chemical affiliate of Samyang Group, held a ceremony to mark the completion of the plant at Gunsan Free Trade Complex in South Jeolla Province. Th
S-Oil is planning to invest more than eight trillion won in Ulsan City. It is the largest investment project in the history of the oil refining and petrochemical industries of South Korea.The purpose of the project is to build manufacturing facilities in order to produce 1.8 million tons of chemical
SK geocentric is introducing the world's first 'waste plastic recycling cluster' at a global plastics expo in Germany, the company announced on Oct. 21SK geocentric is participating in K 2022, the world's largest plastic and rubber industry fair which is held in Dusseldorf, Germany f
LS Cable & System announced on Oct. 20 that it will supply about 240 billion won worth of cables for the Boreas wind farm in the North Sea of the United Kingdom. This is the largest ever order from Europe received by a Korean cable company. The Boreas offshore wind farm is being developed by Sweden&
Hyosung TNC announced on Sept. 7 that it has developed nylon for liners of hydrogen vehicle fuel tanks for the first time in Korea. A liner is an inner container of a fuel tank that prevents leaks.The new nylon liner material is 70 percent lighter than metal materials and 50 percent lighter than hig
South Korean petrochemical companies, including LG Chem and Lotte Chemical, are reducing the production of ethylene and synthetic fibers with economic and exchange rate conditions increasingly affecting their profitability.As of Sept. 5, the per-ton prices of ethylene and naphtha were US$950 and US$
SK Chemicals announced on July 25 that it has signed a memorandum of understanding (MOU) with Shuye, a Chinese green material company, to establish a joint venture (JV) chemical plant in Shantou, China.SK Chemicals invested 23 billion won in Shuye last year to acquire a 10 percent stake and secure a
KAIST research team led by professor Kim Bum-jun and Georgia Tech research team led by professor Lee Seung-woo have developed a highly advanced all-solid-state battery by developing an elastomer polymer electrolyte.According to the teams, the development is capable of extending the driving range of
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In 2022, we expect DL E&C to enjoy a stable COGS-to-sales ratio at its housing division and gradual sales growth at its plant division. Moreover, the firm’s active shareholder return policy (cash
DL E&C has won a chemical plant construction project in Russia. The Korean contractor will be in charge of designing and procuring equipment for a polymer factory in the Ust-Luga region, about 110 km southwest of St. Petersburg. The contract value is 1.6 trillion won.The project involves building th