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S. Korea to Increase Number of Eco-friendly Cars to 7.85 mln by 2030

S. Korea to Increase Number of Eco-friendly Cars to 7.85 mln by 2030

SEOUL, Feb. 18 (Korea Bizwire) — South Korea said Thursday the accumulated number of eco-friendly cars running in the country will reach 7.85 million by 2030, in line with its vision to go fully carbon-neutral by 2050. The target will mark a sharp rise from 820,000 units tallied in the previous year, according to the [...]

Hyundai, POSCO to Explore Overseas Hydrogen Biz Opportunities

Hyundai, POSCO to Explore Overseas Hydrogen Biz Opportunities

SEOUL, Feb. 16 (Korea Bizwire) — Hyundai Motor Group and POSCO will explore overseas hydrogen-related business opportunities as they diversify portfolios to secure a new growth driver, the carmaker said Tuesday. Hyundai Motor and POSCO have formed business ties to explore a partnership in overseas hydrogen production and related technology development projects and seek chances [...]

S. Korean Companies Join Global Race for Shift Toward Clean Energy

S. Korean Companies Join Global Race for Shift Toward Clean Energy

SEOUL, Feb. 14 (Korea Bizwire) — South Korean companies are accelerating their shift toward renewable energy to meet tighter emission goals and get ahead in the clean technology development. Major companies have committed to use 100 percent renewable energy by 2050 to join the global clean energy RE 100 initiative led by the international nonprofit [...]

Transactions of Fuel Cell Energy Surge with Growing Hydrogen Economy

Transactions of Fuel Cell Energy Surge with Growing Hydrogen Economy

SEOUL, Jan. 26 (Korea Bizwire) — Last year’s transactions of fuel cell electricity showed a dramatic increase over 2019, driven by the expansion of the hydrogen economy. The Electric Power Statistics Information System (EPSIS) reported the country’s total capacity of fuel cell electricity production last year was 605 megawatts (MW), up by 30.4 percent since [...]

S. Korea to Invest 28 bln Won in R&D Projects for Eco Cars

S. Korea to Invest 28 bln Won in R&D Projects for Eco Cars

SEOUL, Jan. 26 (Korea Bizwire) — South Korea said Tuesday it will invest nearly 28 billion won (US$25.3 million) in research and development (R&D) projects for eco-friendly automobiles and self-driving technologies in line with the country’s green energy drive. The country plans to allocate 13.4 billion won for research projects for electric vehicles and hydrogen [...]

S. Korea to Expand Subsidies for Eco-friendly Cars

S. Korea to Expand Subsidies for Eco-friendly Cars

SEOUL, Jan. 21 (Korea Bizwire) — South Korea said Thursday it plans to expand subsidies provided for electric vehicles and hydrogen fuel-cell automobiles this year in line with the country’s green energy drive. Under the plan, South Korea will allocate 1 trillion won (US$930 billion) to promote sales of electric cars, which marks a 25 [...]