Hyundai Motor will develop a marine mobility platform powered by seawater by 2023 to replace small and mid-sized diesel ships polluting the sea. The project has been directly reported to Hyundai Motor Chairman Chung Euisun. According to industry sources Thursday, the automaker is developing a 15-20 meter-long yacht powered by the firm’s hydrogen fuel cells. The trimaran yacht has three hulls, each of which is installed with equipment to break seawater into hydrogen. Then, hydrogen fuel

현대자동차가 지상을 넘어 해상으로 닻을 올렸다. 소금물로 작동하는 ‘해상’ 모빌리티 플랫폼을 2023년까지 협력사들과 함께 선보인다는 계획이다. 해당 프로젝트는 경영진 최고위층까지 보고된 것으로 확인됐다. 27일 조선업계에 따르면 현대차는 자사의 수소연료전지가 탑재된 15-20 미터 길이의 요트를 개발 중이다. 해당 요트는 ‘트리마란’ 형태로, 중앙 선체 양옆으로 더 작은 선체 두 개가 연결되어 있다. 각 선체가 바닷물을 수소로 분해하면, 내부에 탑재된 수소연료전지가 전기를 생산하고, 프로펠러가 돌아가며 요트를 구동한다. 바닷물에서 수소를 추출할 때 필요한 전력은 돛에 설치된 태양광 전지와 선체에 부착된 두 대의 수직형 풍력 발전기가 공급한다. 대당 가격은 45억이다. 한 업계 고위 관계자는 코리아헤럴드와 만나 해당 프로젝트는 “현대차 상용디자인실장 하학수 상무의 작품”이라고 말했다. 또한 “컨

LG Energy Solution and General Motors said Wednesday they will invest $2.6 billion to build their third electric vehicle battery manufacturing plant in the US. The facility will be located in Lansing, Michigan. The factory will begin mass production in early 2025 and produce 50 gigawatt-hours of EV batteries per year once fully operational, which is enough to power 700,000 EVs that can travel more than 500 kilometers in a single charge. The investment is expected to create 1,700 new jobs.

Posco Chemical posted record revenues in 2021, largely buoyed by a robust performance of its secondary battery materials business, the company said in a regulatory filing on Wednesday. According to the refractory and secondary battery materials arm of South Korean steel giant Posco, its sales surged 27 percent to 1.98 trillion won ($1.65 billion) on-year, a record figure in the company’s history. Operating profits also soared 101.9 percent to 121.7 billion won in the same period. Po

SKC, the chemicals unit of South Korea’s No. 3 conglomerate SK Group, said Wednesday it has invested $80 million with partners to secure next-generation electric vehicle battery technologies. According to SKC, it formed a consortium with SJL Partners, BNW Investment and Kiwoom PE and invested $80 million in Nexeon, which develops materials that go inside the minus sides of electric vehicle batteries. Through the investment, the consortium secured a partial stake in the British firm a

Hyosung said Wednesday it will invest 1 trillion won ($834.5 million) to invest in green hydrogen in South Jeolla Province. According to the South Korean conglomerate, the investments will produce 200,000 metric tons of green hydrogen per year in the region, which will create 300,000 jobs. To accomplish the goal, Hyosung will this year break ground on a 10-megawatt facility that splits water into oxygen and hydrogen. Once completed, it will be the biggest one in Korea, according to the comp

SK Group said Tuesday it will establish a giant research and development center dedicated to green technologies. According to the third-largest South Korean conglomerate, the R&D facility, tentatively named “SK Green Techno Campus,” will break ground in 2025 in Bucheon, adjacent to Seoul in Gyeonggi Province, and reach completion in 2027. The facility, on a 198,000-square-meter site, will house some 3,000 R&D personnel from the group’s seven affiliates -- SK Energy, S

Recycled materials are no longer expensive products for a niche market as major South Korean chemical firms roll up their sleeves to introduce them into the daily lives of average consumers. According to LG Chem Tuesday, it has completed the first shipment of a coating material made of bio raw materials such as waste cooking oil and palm residues. The material, named neopentyl glycol, or NPG, is used to coat cars, consumer electronics and drink cans. LG Chem’s eco-friendly NPG, manufac

Hanwha Q Cells said Monday that its CEO Lee Ku-hyung has been appointed the 14th chairman of the Korea New and Renewable Energy Association, a business lobby with some 420 member companies. Lee, who joined Hanwha Group in 1990, has served key positions at the group’s solar solutions unit Hanwha Q Cells, formerly Hanwha SolarOne, since 2011 and was promoted to the top position in September last year. Lee, whose term is three years, is expected to lead the association based on years of

Samsung SDI’s long-held “premium strategy” with high pricing is expected to face a daunting test in its renewed competition with rivals amid ever-evolving market trends. Until 2020, bringing down the price through scale and manufacturing more powerful batteries were of the utmost priority. However, as the competition heats up with the entry of new players, securing stable profits through partnerships with automakers has emerged as the key trend, which Samsung SDI is refusin

Almost 90 percent of South Korean companies are unprepared for supply chain risks even though they are aware that those risks will continue this year. According to a survey by the Korea Chamber of Commerce and Industry published on Sunday, among 300 companies that import raw materials, only 9.4 percent said they have prepared specific measures to respond to potential supply chain constraints, while 89.1 of them responded they have yet to come up with clear plans. Of the companies that said

LG Energy Solution will employ four preemptive measures as it can’t afford yet another recall crisis after going public next week. According to market analysts Thursday, the South Korean battery giant will adopt Z-folding technology, manufacture more batteries resistant to gas issues, directly manufacture key safety components and mount ESS with fire-resistant LFP batteries. Z-folding The adoption of Z-folding technology reflects LG Energy Solution’s determination not to repea

Honda has become the third global automaker after General Motors and Hyundai Motor to jointly develop next-generation electric vehicle batteries with SES, a Boston-based startup set to go public in the US this year. According to SES Thursday, the Japanese automaker agreed to acquire a 2 percent stake in the startup and jointly develop lithium-metal batteries, which are 30 percent more powerful than the strongest lithium-ion batteries in the market. “Honda has joined General Motors and

Samsung Electronics’ obsession for foldable smartphones is drawing market concerns as the South Korean tech giant is missing out on what’s coming next: The metaverse. According to market tracker Counterpoint Research Wednesday, Samsung remained as the No. 1 global smartphone brand by market share in 2021, but its smartphone business by sales grew just 0.9 percent on-year, drawing a big comparison with Apple’s 25.5 percent and Xiaomi’s 35.1 percent. Though growth has ap

Samsung Electronics is expected to introduce household robots under the brand “Samsung Bot” in the North American market. According to the World Intellectual Property Organization on Tuesday, the South Korean tech giant recently completed a trademark registration of Samsung Bot in the US and Canada. Samsung Bot encompasses all types of applications including industrial robots, exoskeleton robots, robot vacuum machines, robot kitchen utensils, humanoids and server robots, the compan

LG Chem will extract oil from plastic waste and reuse it for plastic production starting in 2024. According to South Korea’s leading chemical company Tuesday, it will establish a facility in Dangjin, South Chungcheong Province, where the plastic waste will be chemically recycled with extremely hot and pressurized steam. Once completed in the first quarter of 2024, the facility, with an annual capacity of 20,000 tons, will utilize the extracted oil to produce raw materials for plastic pro

The goal of Samsung Electronics becoming the No. 1 foundry player by 2030 is facing a major hurdle as its rival TSMC prepares a whopping $44 billion investment in 2022 to consolidate its lead, according to industry sources Monday. “Last year, Samsung Electronics spent roughly 40 trillion won ($33.5 billion) in memory, foundry and infrastructure investments. This year, TSMC plans to spend more than 50 trillion won solely for the foundry business,” said Lee Seung-woo, an analyst at

Porsche Taycan 2019 models surprised the world when they were first released by supporting rapid charging from 0 to 100 percent in 20-30 minutes, which was almost twice as fast as other electric vehicles at the time. Behind this jaw-dropping performance stood LG Energy Solution’s two breakthrough EV battery manufacturing technologies, which are similar to making peanut butter and jelly sandwiches. Now the South Korean battery giant aims to apply the two technologies not only to premium

LG Energy Solution said Friday that heated institutional demand has set its initial public offering price at the top end of its target range at 300,000 won ($252.80). In a regulatory filing, the firm said as many as 1,988 institutions have subscribed to its offering of 41.5 million initial issues. The shares were oversubscribed by more than 2,023 times, with all of the investors proposing to buy at the highest price range. “LG Energy Solution attracted 15.2 quadrillion won in demand

South Korean materials producer Solus Advanced Materials said Friday it has won incentives worth 24 million euros ($27.5 million) from the Hungarian government for facility expansion in the Central European country. The funds will be granted in cash by 2023. The firm said the funds will be used for the expansion of its plant No. 2 in Hungary that manufactures copper foil for batteries used in electric vehicles. The new incentives come after the Hungarian government provided cash incentives w