Energy & Batteries Archives | Be Korea-savvy

Archive by category Energy & Batteries

SK Group Emerges as Second-most-valuable Conglomerate

SK Group Emerges as Second-most-valuable Conglomerate

SEOUL, Apr. 16 (Korea Bizwire) — SK Group, South Korea’s chip-to-battery conglomerate, emerged as the second-most-valuable conglomerate after Samsung Group in the Korean stock markets at the end of March, a corporate data firm said Tuesday. SK Group’s emergence was helped by a sharp increase in the value of its chip-making affiliate, SK hynix Inc., [...]

South Korea’s Battery Trio Secure Top-5 Spots in Global Electric Vehicle Battery Market

South Korea’s Battery Trio Secure Top-5 Spots in Global Electric Vehicle Battery Market

SEOUL, Apr. 16 (Korea Bizwire) — Last year, all three major South Korean battery makers – LG Energy Solution, Samsung SDI, and SK On – secured positions within the top five in the global electric vehicle battery market, according to a recent report.  According to SNE Research, an energy market research firm, the total electric vehicle [...]

S. Korea to Extend Fuel Tax Cut through June amid Middle East Tensions

S. Korea to Extend Fuel Tax Cut through June amid Middle East Tensions

SEOUL, Apr. 15 (Korea Bizwire) – The government will extend the tax cut on fuel consumption by an additional two months amid growing tensions in the Middle East, Finance Minister Choi Sang-mok said Monday. South Korea has applied a 25 percent discount on the consumption of gasoline and a 37 percent discount on the consumption [...]

LG Energy Solution Embraces Generative AI to Enhance Efficiency and Customer Focus

LG Energy Solution Embraces Generative AI to Enhance Efficiency and Customer Focus

SEOUL, Apr. 15 (Korea Bizwire) — LG Energy Solution, a major battery manufacturer, announced on April 14 that it is adopting generative artificial intelligence technology across its operations to better analyze customer needs and maximize operational efficiency.  One of the first AI-powered tools implemented is the “YouTube Trend Report,” which utilizes AI to analyze battery-related videos [...]

LGES Begins Construction of Battery Plant in Arizona

LGES Begins Construction of Battery Plant in Arizona

SEOUL, Apr. 4 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday it has begun the construction of its US$5.5 billion battery plant in Arizona, with an aim to start operations in 2026. LGES plans to produce 46-Series cylindrical batteries for electric vehicles (EVs) and lithium iron phosphate (LFP) [...]

Seoul and Yeongcheon to Launch Hydrogen Production from Biogas Projects

Seoul and Yeongcheon to Launch Hydrogen Production from Biogas Projects

SEOUL, Apr. 4 (Korea Bizwire) – In a groundbreaking move towards sustainable energy, Seoul and the city of Yeongcheon in North Gyeongsang Province are set to embark on innovative projects to produce hydrogen from biogas. These initiatives aim to transform organic waste, such as livestock manure, food waste, and sewage sludge, into a renewable energy source, [...]

South Korea Braces for a Offshore Wind Power Boom Worth Up to 100 Trillion Won by 2030

South Korea Braces for a Offshore Wind Power Boom Worth Up to 100 Trillion Won by 2030

SEJONG, Apr. 1 (Korea Bizwire) – As South Korea ramps up construction of large-scale offshore wind farms, the nation is poised to witness exponential growth in this renewable energy market, with investments projected to reach a staggering 100 trillion won by the end of this decade. Amid the global push for decarbonization, the South Korean government [...]