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S. Korean Petrochemical Firms Move to Prepare for Higher Oil Prices

S. Korean Petrochemical Firms Move to Prepare for Higher Oil Prices

SEOUL, Jan. 17 (Korea Bizwire) — South Korean petrochemical companies have since last year been moving to make big investments and diversify their portfolios to prepare for changes in the business environment, including higher oil prices, the energy ministry said Wednesday. Major petrochemical companies are set to hold a meeting in Seoul where they will [...]

Government-Civilian Consultation Body to Play Important Role in Reducing Emissions

Government-Civilian Consultation Body to Play Important Role in Reducing Emissions

SEOUL, Jan. 3 (Korea Bizwire) – The opinions of civilians will play a direct role in deciding the greenhouse gas emissions policy of South Korea going forward, the Ministry of Environment revealed on January 1. Following the government’s decision last December to restructure the systems in place to deal with climate change, chief oversight of [...]

Petroleum Refinery Industry Increasing Investment, Diversifying Portfolio

Petroleum Refinery Industry Increasing Investment, Diversifying Portfolio

SEOUL, Dec. 26 (Korea Bizwire) – South Korea’s petroleum refinery industry is making large scale investments and diversifying their portfolios amid solid growth this year, market watchers said Monday. Observers said that the move comes as companies want to capitalize on recent gains and better insulate themselves from uncertainties going forward. S-Oil Corp., which is [...]

Lexus ES300h First Imported Hybrid to Exceed 20,000 Unit Sales in S. Korea

Lexus ES300h First Imported Hybrid to Exceed 20,000 Unit Sales in S. Korea

SEOUL, Dec. 25 (Korea Bizwire) — Lexus ES300h gasoline hybrid model has become the first imported hybrid to post accumulated sales exceeding 20,000 units in South Korea, the Japanese carmaker’s local office said Monday. The ES300h was launched in the Korean market in 2012, with total sales hitting 6,112 models sold last year, accounting for [...]

South Korea’s First LNG-powered Merchant Vessel Unveiled

South Korea’s First LNG-powered Merchant Vessel Unveiled

SEOUL, Dec. 22 (Korea Bizwire) – The very first South Korean LNG-powered merchant vessel is expected to set sail next year. The Ministry of Trade, Industry and Energy and POSCO said on Thursday that the launch ceremony for the country’s first LNG-powered merchant vessel, ‘Green Iris’, will take place on Friday at Hyundai Mipo Dockyard [...]