Tag: South Korea
South Korean producers of stainless steel wire are decreasing their use of domestic wire rods due to an increasing price gap between domestic materials and imported products. According to stainless wire industry officials, the import prices for foreign 300 series stainless steel wire rods
The Board of Royal Dutch Shell plc (Shell) has made the final investment decision on the Prelude Floating Liquefied Natural Gas (FLNG) Project in Australia; the company will build the world's first FLNG facility. Moored some 200km from the closest land in Australia, the FLNG facility will produce gas from offshore fields
POSCO approved a USD 1.98 billion investment plan at its shareholders' meeting. The investment is for the construction of its third FINEX blast furnace, a No. 4 wire rod plant and a new stainless steel plant. Building the third FINEX blast furnace will improve its competitiveness, while constructing the No. 4 wire rod plant will allow the company to meet the rising demand for wire rod.
The government of South Korea plans to construct an offshore wind farm off Korea’s west coast by 2019.
South Korea is to build a USD 8.2 billion offshore wind project in the Yellow Sea to 2500MW of power.
Mechel has announced that it is establishing its official representative office in Seoul, South Korea. Currently Mechel’s representative office in South Korea is the first Russian corporate representative office in the mining and metals industry in the country.