SEOUL, Dec. 16 (Korea Bizwire) — Hyundai Steel and POSCO are moving forward with plans to build a large-scale electric arc furnace (EAF) steel mill in Louisiana, targeting commercial operation in 2029, as South Korean steelmakers expand production in the United States to meet automakers’ growing local supply needs. The companies announced on Tuesday that [...]
SEOUL, Dec. 15 (Korea Bizwire) — Korea Zinc, one of the world’s largest nonferrous metals producers, will invest nearly 11 trillion won (US$7.4 billion) to build a large-scale integrated smelter in Tennessee, a project backed by both the U.S. government and American corporate partners as Washington races to counter China’s tightening control over strategic mineral exports. [...]
SEOUL, Dec. 15 (Korea Bizwire) — Hyundai Motor’s hydrogen fuel-cell SUV, the All-New Nexo, has received the highest possible safety rating from Europe’s premier new-car testing program, the company said Sunday, marking another milestone for the automaker’s expanding lineup of alternative-energy vehicles. The Nexo earned five stars in the latest Euro NCAP evaluation, recognized for maintaining [...]
SEOUL, Dec. 12 (Korea Bizwire) — Hyundai Motor Group has secured an order to supply more than 200 hydrogen-powered buses to the Chinese city of Guangzhou, marking the biggest single hydrogen bus procurement deal in China to date, the group said Friday. Hyundai Motor’s Chinese hydrogen fuel-cell subsidiary, HTWO Guangzhou, together with Chinese commercial vehicle [...]
SEOUL, Dec. 10 (Korea Bizwire) — The industry ministry on Wednesday asked major oil companies to refrain from engaging in drastic price hikes amid recent volatility in global energy prices, officials said. The request was made during a meeting with four major domestic oil refineries, including SK Energy Co. and GS Caltex Corp., and related [...]
SEOUL, Dec. 10 (Korea Bizwire) — SK Chemicals Co. said Wednesday it will establish a joint venture with a Chinese plastics recycling firm to build a waste-plastics processing facility aimed at securing a stable supply of recycled plastic materials. The joint venture with Kelinle will construct a Feedstock Innovation Center (FIC) in Shaanxi Province, with [...]
SEOUL, Dec. 8 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Monday it has signed a battery supply deal worth 2.06 trillion won (US$1.39 billion) with Mercedes-Benz AG. The supply, which will begin in March 2028, will run through June 2035, LG Energy Solution said in a regulatory filing. The volume [...]
SEOUL, Dec. 5 (Korea Bizwire) — POSCO International Corp. has finalized a strategic partnership agreement with Glenfarne Alaska LNG for the development of an Alaska liquefied natural gas (LNG) project, becoming the first South Korean company to officially participate in the major U.S. energy project backed by President Donald Trump, the American company said Friday. [...]
SEOUL, Dec. 5 (Korea Bizwire) — The government on Friday launched an interagency resource security council to beef up the country’s response capabilities against supply chain disruptions and stabilize management of critical resources, the industry ministry said. The council was established to bolster South Korea’s security in resources that play a crucial role for advanced [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea’s major business lobby warned that companies may face nearly 27 trillion won (US$20.4 billion) in carbon-credit purchasing costs over the next five years under the government’s newly announced emissions trading allocation plan. The climate ministry swiftly rejected the estimate, calling it an exaggerated projection based on flawed assumptions. [...]