Winners and Losers

Winners

Samsung Construction & Trading (C&T)

, one of Korea’s major builders, announced Thursday that it won a 6.5 trillion won ($5.8 billion) mine development project deal in Australia. The company said it will cooperate with Roy Hill Holdings in building an infrastructure to develop an iron ore deposit located in Roy Hill, western Australia, for 32 months. Samsung C&T said the planned infrastructures will include a plant capable of processing 55 million tons of iron ore annually, a 340-kilometer-long railroad and two berths. Following the news, company stocks closed at 68,500 won on the Seoul bourse, up 0.74 percent from Wednesday.

Losers

SK Innovation, one of the leading refiners in Korea, said on Tuesday that its affiliate

SK Global Chemical

lost the bidding for the petrochemical plant construction project in Indonesia. Pertamina, Indonesia’s state-run oil company chose Thailand’s PTT Global Chemical (PTTGC) as a winner after reviewing three candidates - SK Global Chemical, PTTGC, and Japan’s Mitsubishi Corp. Indonesia’s demand for petrochemical products has been increasing as the Southeast Asian economy grows at over 6 percent annually over the past few years. Following a failure to win the Indonesian project, refinery industry watchers expect that SK will face greater difficulties in expanding its business in Southeast Asia.