Doosan GridTech, a US subsidiary of Doosan Heavy Industries & Construction, won a contract worth 100 billion won ($91.3 million) to install energy storage systems (ESS) in Australia, the biggest ESS contract Doosan has ever signed. According to Doosan Heavy on Tuesday, the subsidiary was awarded the contract from private power utility Vena Energy to supply a 150-megawatt-hour ESS in Queensland, Australia by next year. It will be the state’s largest such facility. Equipped with it

Industry Dec. 15, 2020

South Korean battery foil maker Doosan Solus said Tuesday it has officially changed its name to Solus Advanced Materials after breaking away from Doosan Group on Monday. In a board meeting, directors of the former Doosan company also endorsed the appointment of SkyLake Equity Partners Chairman Chin Dae-jae as its CEO. Along with incumbent CEO Lee Yoon-seok, the company will be run by two independent CEOs. SkyLake, a private equity fund, is Solus Advanced Materials‘ largest shareholder

Industry Dec. 15, 2020

Hyundai Rotem said Monday its manufacturing plant for machines to extract hydrogen from natural gas will begin full operations starting this month. The locomotive and rolling stock unit of Hyundai Motor Group renovated a part of its existing plant for electrical parts in Uiwang, Gyeonggi Province, into one that can produce 20 hydrogen extractors per year in response to a growing number of hydrogen charging stations in South Korea. “Twenty hydrogen extractors can generate 4,700 metric

Industry Dec. 14, 2020

Krafton, which is preparing an initial public offering next year, suffered a hiccup in its newly released massively multiplayer online role-playing game Elyon. Developed by Krafton and published by Kakao Games, Elyon exposed a bug that compromised its in-game economy, triggering a fierce backlash from users as the bug appeared just three days after the game’s release on Thursday. When a user of an attacking squad hunted down a monster at a specific field and picked up an item the mon

Industry Dec. 14, 2020

When it comes to pricing, luxury fashion and games may not be so different. As long as there are consumers willing to pay extra for a premium experience, it is that perceived value that could determine the price of a product. WeMade’s Mir 4, despite its notorious pay-to-win system, may prove just that in the local gaming industry. With an intricate storyline and superb graphics, the game is simply irresistible to avid players. Launched on Nov. 25 in South Korea by local game developer

Industry Dec. 13, 2020

The final ruling on the battery patent lawsuit between LG Energy Solution and SK Innovation has been postponed to Feb. 10, the third delay in the US court case. The US International Trade Commission announced the delay on Thursday, without providing specific reasons. The court was originally scheduled to rule on Oct. 5, then the decision was delayed to Oct. 26 and then again to Thursday. The two Korean battery makers released official statements regarding the holdup, but with different int

Industry Dec. 10, 2020

GS Caltex said Thursday its biobutanol sales have jumped more than tenfold on-year in the first 11 months of this year, due to growing demand for eco-friendly raw materials. The 2,3-butanediol chemical compound is a 100 percent natural substance easily found in nature including in soil, animals and fermented food. Thanks to its superb moisturizing and preservation effects, the substance is widely used as a raw material for cosmetics and personal care products. However, as 2,3-butanediol is

Industry Dec. 10, 2020

Posco Chemical said Wednesday it will supply cathodes to Ultium Cells, a joint venture established by LG Energy Solution and General Motors last year. According to the refractory and secondary battery materials arm of South Korean steel giant Posco, it will provide cathodes to Ultium Cells’ electric vehicle battery manufacturing facility, which is set to begin mass production of NCMA (nickel, cobalt, manganese, aluminum) batteries that contain 90 percent nickel starting next year. Ca

Industry Dec. 9, 2020

South Korea has rolled up its sleeves to support the domestic biodegradable plastic industry to address carbon-intensive plastic products and achieve carbon neutrality by 2050. According to the recent “White Biotechnology Industry Revitalization Strategy” released by the Ministry of Trade, Industry and Energy, the government will create demand for biodegradable plastic products, which are two to three times more expensive than conventional plastic items. The fall in prices of oil a

Industry Dec. 9, 2020

S-Oil said Wednesday it had delivered 90 million won ($82,300) to eight firefighters for heroic actions. At an annual Hero Firefighters Award Ceremony held at its headquarters in Mapo-gu, western Seoul, the South Korean refinery and the Korea National Council for Social Welfare delivered award plaques of appreciation and cash awards to the eight awardees as part of its firefighter support campaign. Lee Sung-ha from Incheon Central Fire Station received the top award and 20 million won. Lee dis

Industry Dec. 9, 2020

LG Chem said Tuesday it has launched the “Like Green” mentorship program for elementary and middle school students to raise their awareness on sustainability. Here, Green is an acronym that stands for global warming, recycling, energy, ecosystem and next-generation technology, according to the company. The Like Green mentorship program will educate 100 young students from January to March regarding the five topics. They will be put in small groups with university students with

Industry Dec. 8, 2020

South Korean surveillance solution provider Hanwha Techwin on Tuesday suggested five key phrases to describe the trends in the video security industry next year. The security camera subsidiary under Hanwha Aerospace offered an acronym “Rodeo,” which stands for “Ready for the era of edge computing,” “Ongoing trend, cloud,” “Don’t worry about cyber hacking, cybersecurity,” “Everyone can join in, open platform” and “Only whe

Industry Dec. 8, 2020

If Anne Frank was not a real person and her diary was merely a work of fiction, would her story resonate as much with readers? As witnessed by Schindler’s List and The Pianist, films based on true stories connect people to the past in a visceral way. But would it be appropriate, or even necessary, to make a game out of such atrocities, even with a “noble” purpose in mind? In this sense, PC game The Wednesday, released on Dec. 1, is an utter disaster, as it reduces the bru

Industry Dec. 7, 2020

Hanwha Total said Monday it has increased its annual plastic production capacity to 140,000 metric tons as demand has spiked for plastic, the raw material for separators, one of the key components of lithium-ion batteries along with cathodes, anodes and electrolytes. The expansion, which cost 40 billion won ($36.9 million), will allow the South Korean petrochemical company to produce 140,000 tons of ultrahigh-molecular-weight polyethylene (UHMWPE) at its plant in Daesan, South Chungcheong Prov

Industry Dec. 7, 2020

The US has decided to impose anti-dumping duties on South Korean oil pipelines of up to 15 percent. According to the Korea International Trade Association on Sunday, the US Department of Commerce recently made a final ruling at an annual review of anti-dumping duties on Korea oil pipelines to levy tariffs between 9.33 percent and 15.07 percent. Compared to last year’s figure, which stood at 22.7 percent to 38.87 percent, the tariffs have been slashed by more than half. The US Departme

Industry Dec. 6, 2020