Cement News tagged under: South Korea

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SungShin Cement swings into the black in 2023

21 February 2024, Published under Cement News

South Korea-based SungShin Cement reported a preliminary and unaudited revenue of KRW1.113trn (US$832,886) in 2023, up from KRW1.03trn in 2022. The company’s operating profit surged from KRW1.83bn in 2022 to KRW77.73bn in 2023 while net profit reached KRW65.75bn in 2023, a significant turnaround when compared with a loss of KRW26.47bn in 2022. SungShin operates the 11.3Mta Danyang integrated plant in Danyang-gun and the 0.5Mta Bugang grinding unit in Cheongwon-gun.

White cement anti-dumping duties issued in South Korea

27 September 2023, Published under Cement News

South Korea is to impose anti-dumping duties on white Portland cement imported from Egypt, said the industry ministry. Following a preliminary examination, the Korea Trade Commission (KTC) recommended  the Ministry of Finance to levy provisional duties of 72.23 per cent on Egyptian white cement imports to protect the local cement industry while it carries out an additional probe. The probe came as domestic cement producer Union Corp filed a complaint in March against Egypt's Royal El M...

New cement price rises expected in South Korea

01 June 2023, Published under Cement News

South Korea’s cement industry is likely to increase cement prices by 14 per cent from July, citing the impact of sharply rising electricity prices and currency exchange rate as the main drivers. Ssangyong C&E Co , one of South Korea’s key cement producers, recently sent a letter to concrete suppliers stating its intention to increase bulk prices by 14.1 per cent to KRW119,600/t (US$90.36/t )from KRW104,800/t, according to local reports. The country’s other six cement producers are now e...

South Korean producers set to hike cement prices

06 January 2023, Published under Cement News

South Korea’s major cement producers are implementing another hike in wholesale prices amid strengthening in the key ingredient bituminous coal and construction activity, adding woes to concrete mixers and builders.   According to multiple sources from the cement industry, the country’s top cement producer Ssangyong C&E has decided to raise the price of its top-grade bulk cement to KRW93,000/t (US$77.6/t) from next month. It would be an increase of 18 per cent from current KRW78,800/t....

South Korean cement output slashed as truckers strike

02 December 2022, Published under Cement News

This week the South Korean government stepped in with a presidential executive order to force striking cement truck drivers in the country to go back to work. Some 76 teams of government officials began conducting on-site investigations with police to order 2500 cement transport workers to return to work. The striking truckers are demanding a certain guaranteed level of wages and resorted to collective action to try and see their demands met.  About 7000 people rallied in 16 regions across...

Asian outlook on carbon capture, utilisation and storage

18 November 2022, Published under Cement News

This week Asia Cement announced that it would be employing TCRK's Arago Cement Process to utilise captured CO2, cement kiln dust and by-pass particles in the cement production process in South Korea from 2025. ICR reviews the opportunities for carbon capture utilisation and storage (CCUS) for cement producers in the Asian region. The Asia Cement Co project will include a fully commercial-scale deployment of TCRK CCUS technology. Initially it will target 30,000tCO 2 e per year, rising to 1...

Asia Cement to start CCUS in 2025 with TCRK technology

15 November 2022, Published under Cement News

TCRK, a fast-growing IP-led CO2 capture and usage business, is collaborating with Asia Cement  to bring TCRK’s carbon capture technology to a major South Korean cement plant, and support Asia Cement in achieving its 2025 decarbonisation commitments. Starting in the 1Q23, this first commercial scale deployment of TCRK carbon capture and utilisation technology will initially target 30,000t CO2e per year, growing to 120,000t CO2e per year over the first 18 months. This second target will pr...

Ssangyong Cement order fourth KHD Pyrorotor®

22 August 2022, Published under Cement News

Ssangyong Cement C&E Company Ltd has ordered another KHD’s Pyrorotor ® for its Donghae plant in South Korea. Ssangyong Cement C&E Company Ltd (Korea) awarded another supply and engineering contract to Humboldt Wedag GmbH for the modernisation of clinker production line five of the Donghae plant. This project marks the fourth Pyrorotor® installation at the Ssangyong plant.   The Pyrorotor ® will enable Ssangyong to continuously achieve a thermal substitution rate (TSR) above 85 ...

thyssenkrupp Industrial Solutions wins Prepol® SC order

10 August 2022, Published under Cement News

thyssenkrupp Industrial Solutions’ Asia Pacific region has won a contract to supply a supply a prepol ® SC combustion chamber for a cement plant in South Korea. The scope of the contract includes engineering, mechanical equipment and some modifications to the preheater tower. The commissioning of the system is planned for the end of 2023.  thyssenkrupp Industrial Solutions’ Regional CEO, Lukas Schoeneck, commented: “The current turbulences on the coal market create a lot of pressure i...

South Korea's cement prices rise again

04 August 2022, Published under Cement News

Cement prices in South Korea will rise for a second time this year, leaving ready-mix concrete producers to find ways to lessen the impact, reports Korea JoongAng Daily. Sampyo Cement will increase the price of cement by 11.7 per cent to KRW105,000/t from September. Buyers of Hanil Cement ’s product will pay out 15 per cent more at KRW106,000/t. Sampyo Cement increased its prices by 19 per cent in February 2022, along with Sungshin Cement, SsangYong Construction and Engineering and Ha...