Doosan Heavy Industries & Construction will transform plastic waste into gases by heating it up, and extract hydrogen from those gases, the company said Thursday. Seeking to jointly develop the hydrogen extraction system, Doosan Heavy has partnered with RevoTech, a local plastic pyrolysis firm which possesses the technology involved in feeding plastic waste non-stop into heating equipment. The initial goal is to develop within the year a hydrogen reformer that can produce 0.3 metric ton

Vancouver-based firm says its tech retrieves almost 100 percent key metals from defective EV batteries, creates value from scraps

Samsung Electronics Co. is expected to become the world's top semiconductor vendor in the second quarter of the year beating its US rival Intel Corp., a report showed Thursday, on the back of strong memory demand. The South Korean tech giant was projected to log $18.5 billion in semiconductor sales in the April-June period to outperform Intel with $17.9 billion and recapture the leading position for the first time since the third quarter of 2018, according to the McClean Report from market res

The race to acquire South Korean food delivery platform Yogiyo has attracted retail giant Shinsegae, accommodation booking platform Yanolja and big private equity funds, according to industry sources on Wednesday. Yogiyo’s German operator Delivery Hero and sale adviser Morgan Stanley received preliminary bids Tuesday for a 100 percent stake in Yogiyo up for sale. According to the sources, around eight parties have joined the acquisition race, including Shinsegae and Yanolja. South Kor

KT, one of South Korea’s big three telecom carriers, faces a potential class action from gigabit internet service subscribers over allegations that the firm signed onto the plans even those living in areas unequipped with the infrastructure to accommodate the high-speed internet services. Kim Jin-wook, an attorney at Seoul-based law firm Joowon, announced Wednesday that he is recruiting prospective plaintiffs through a class action platform Angry People. “According to media rep

Hanwha Total has completed the expansion of its petrochemicals plant in Daesan, South Chungcheong Province, to ramp up the production of polypropylene and ethylene, the company said Wednesday. The 530 billion-won ($472 million) project, which took 28 months for completion, included the building of a new polypropylene factory with annual production capacity of 400,000 metric tons, raising the firm’s total polypropylene production capacity to 1.12 million tons, the biggest scale in South K

Local unit of French carmaker warns union workers of ‘restructuring’

Kakao Games, the gaming unit of the country’s leading messenger app operator, reported a 68 percent jump in net profit to 18.3 billion won ($16.3 million) in the first quarter on-year, the company announced Tuesday. Sales rose 35 percent to 130.1 billion won, while operating profit increased 23 percent to 15.6 billion won in the same period. By division, the firm’s online PC game segment reaped 51.1 billion won in sales, a 19 percent increase on-year, buoyed by the solid perfor

Incheon International Airport Corporation on Tuesday signed a memorandum of agreement with Israel’s state-owned aerospace and aviation manufacturer, Israel Aerospace Industries, to build an aircraft conversion center at Incheon Airport. The deal will see IIAC begin work on building infrastructure, with production of the first batch of passenger-to-freighter converted aircraft set to begin in 2024 in collaboration with South Korean aviation service company Sharp Technics K. After fending

Small-sized construction equipment maker Doosan Bobcat Inc. said Tuesday that it will spend 77 billion won ($68.6 million) to expand one of its US plants in a bid to meet growing demand. The plant located in Statesville, North Carolina, produces compact tractors and portable power stations, or compact battery-powered generators, Doosan Bobcat said. The expansion is aimed at meeting steadily increasing demands for grounds maintenance equipment (GME), such as ride-on mowers and hedge cutters, th

Unionized workers at Renault Samsung Motors Corp. said Monday they have decided to lay down their tools again to demand a wage hike.  Renault Samsung's 1,900-strong workforce will launch an eight-hour strike at their plant in Busan, around 450 kilometers south of Seoul, on Tuesday as they are not satisfied with the company's wage proposals.  The announcement came as they staged a six-hour strike Monday. They previously launched an eight-hour strike last Friday.  The union and

Samsung Electronics and Seoul National University Hospital agreed on Monday to launch an official team to coordinate a 300 billion won ($267 million) donation from the bereaved family of the late Samsung Chairman Lee Kun-hee for children with cancer and rare diseases. On behalf of the Lees, Samsung Electronics Presidents Sung In-hee and Rhee In-yong, in charge of social contributions and corporate relations, attended the ceremony with Seoul National University Hospital President Kim Yon-su and

New holding group takes first step in phasing out of the LG brand

A blessing in disguise. No other idiom can better describe what the coronavirus outbreak has meant for Lime, the world’s leading operator of rented electric scooters and bikes. When the pandemic first broke out, communities shut down, and so did riders. Lime lost 95 percent of its ridership. But as the weather got nicer, “much of that revenue has come back,” says Lime CEO Wayne Ting. Lime recorded its first profitable quarter in the July-September period last year, as incre

Solus Advanced Materials will increase the capacity of its copper foil plant in Luxembourg to 15,000 metric tons from the current 12,000 tons by the end of this year to meet growing demand for 5G network equipment, the company said Monday. The Luxembourg plant manufactures two types of high-end copper foils. Low-loss copper foils, which minimize signal losses, are used for 5G data centers and satellite communications, while high-frequency copper foils, which offer greater signal speed, are u