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Samsung SDI to Supply Batteries for New VW e-Golf: Source

Samsung SDI to Supply Batteries for New VW e-Golf: Source

SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s Samsung SDI Co. will supply its electric-vehicle batteries to Volkswagen’s new 2017 e-Golf, an industry source said Wednesday. “The new e-Golf equipped with a Samsung battery will go on sale in global markets this spring,” the source told Yonhap News Agency. Samsung SDI and LG Chem Ltd. [...]

S. Korean Firm Shuts Down Battery Plant in China: Source

S. Korean Firm Shuts Down Battery Plant in China: Source

SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s SK Innovation Co. halted operation of its battery packing plant in China in January as its business suffered in the face of Beijing’s move to stop a subsidy to electric vehicle makers that use parts from non-Chinese manufacturers, sources said Wednesday. Orders for the joint venture between [...]

Korean Petrochemicals Firms Accelerating Overseas Push

Korean Petrochemicals Firms Accelerating Overseas Push

SEOUL, March 29 (Korea Bizwire) – South Korean petrochemicals firms, led by LG Chem Ltd., are seeking to diversify their export destinations and establish more overseas production facilities, in a bid to reduce their dependence on China, industry sources said Wednesday.  According to the sources, LG Chem, the country’s No. 1 player in the chemicals [...]

Surging Interest in EVs Bodes Well for Korean Green Car Market

Surging Interest in EVs Bodes Well for Korean Green Car Market

SEOUL, South Korea, March 22 (Korea Bizwire) – South Korean TV shopping network Lotte Home Shopping recently experienced firsthand the surge in the popularity of electric cars when it aired a special program last Friday featuring electric cars for lease. During the hour-long broadcast, the network saw more than five thousand customers call in to [...]

SK E&C Joins Project To Build Iran Power Plants

SK E&C Joins Project To Build Iran Power Plants

SEOUL, March 20 (Korea Bizwire) – SK Engineering & Construction (SK E&C) has teamed up with a Turkish firm for a multi-billion-dollar project to build and operate new power plants in Iraq, the South Korean firm said Saturday. Officials from the South Korean builder said the company has successfully purchased a 30 percent stake in UNIT International S.A., Turkey’s energy giant, one day after the two [...]

Doosan Heavy Bags 300 Bln-Won Deal to Upgrade Indonesian Power Plant

Doosan Heavy Bags 300 Bln-Won Deal to Upgrade Indonesian Power Plant

SEOUL, March 14 (Korea Bizwire) – Doosan Heavy Industries & Construction Co., South Korea’s top power equipment maker, said Tuesday that it has bagged a 300 billion-won (US$262 million) deal to upgrade an existing power plant in Indonesia.  Under the deal with the state-run Indonesian PLN, Doosan Heavy and a state-run Indonesian construction firm will [...]

Growing Carbon Market in Korea Faces Liquidity Challenges

Growing Carbon Market in Korea Faces Liquidity Challenges

SEOUL, March 13 (Korea Bizwire) – Carbon emissions trading is growing in South Korea as more companies are compelled to abide by the government’s scheme to reduce carbon-dioxide emissions, but many businesses fear they won’t meet emissions targets this year. Companies are required to have any emissions excess deducted from their permitted amount for the [...]