Bo-eun leads the digital content team. She has covered foreign affairs, North Korea, tech, economy and gender issues at The Korea Times. She did a short stint at the South China Morning Post in Hong Kong, where she obtained a new perspective on news production and life. Small sources of joy for her are lounging in the sun, having a good latte and swimming.
Winners and Losers
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By Kim Bo-eun
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.