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Business Indices for Renewable Energy Worsen

Business Indices for Renewable Energy Worsen

SEOUL, Nov. 20 (Korea Bizwire) — Key business indices for renewable energy, including investment and domestic demand, have backtracked over the past few years, data showed Monday, a challenge to the government policy to pursue non-nuclear power sources. The data provided in a 2016 survey by the New Renewable Energy Center of the Korea Energy [...]

Chinese Battery Manufacturers Aggressively Recruiting S. Korean Engineers

Chinese Battery Manufacturers Aggressively Recruiting S. Korean Engineers

SEOUL, Nov. 20 (Korea Bizwire) — Chinese rechargeable battery and electric vehicle (EV) manufacturers are offering high wages to South Korean engineers, causing concerns among local companies that could face a shortage of skilled workers, industry watchers said Sunday. Sources said that Chinese companies are promising three to four times more pay for skilled engineers [...]

Ministry of Environment to Increase Subsidies for Jeju EVs Next Year

Ministry of Environment to Increase Subsidies for Jeju EVs Next Year

SEOUL, Nov. 17 (Korea Bizwire) – More than a month away from the end of the year, the Jeju government revealed that its designated supply of 4,873 electric cars subsidized by the Ministry of Environment had sold out. According to Jeju officials, the remaining 739 were purchased after a regional notice urging the public to purchase [...]

Debate Over Nuclear Power Phaseout Rears its Head Once More After Earthquake

Debate Over Nuclear Power Phaseout Rears its Head Once More After Earthquake

SEOUL, Nov. 17 (Korea Bizwire) – Two days after a 5.4-magnitude earthquake hit the southeastern city of Pohang, the dispute over decommissioning nuclear power plants is gaining new life. Environmental groups that support the current administration’s nuclear energy phaseout policy have based their arguments on the potential dangers posed by natural disasters like earthquakes. In [...]

Gov’t Mandate Requiring More Renewable Energy Shows Poor Understanding of Market

Gov’t Mandate Requiring More Renewable Energy Shows Poor Understanding of Market

SEOUL, Nov. 14 (Korea Bizwire) – The Moon Jae-in administration’s renewable portfolio standard (RPS) has come under fire from experts for what is being criticized as an insufficient understanding of market dynamics. The RPS requires energy producers with annual production capacities at or above a threshold of 500 MW to either allocate a certain portion [...]

S. Korea Asks Australia to Reconsider Plans for LNG Export Limits

S. Korea Asks Australia to Reconsider Plans for LNG Export Limits

SEOUL, Nov. 14 (Korea Bizwire) — South Korean business leaders said Tuesday they have asked Australia to reconsider its plans to restrict natural gas exports, concerned that the measure will affect access to the energy resource. The Federation of Korean Industries (FKI) said it made the request at the Australia-Korea Business Council (AKBC) meeting held [...]

Seoul Mayor Promises Expanded Solar Power at Climate Summit in Germany

Seoul Mayor Promises Expanded Solar Power at Climate Summit in Germany

SEOUL, Nov. 13 (Korea Bizwire) – Speaking at the “Climate Summit of Local and Regional Leaders” in Germany on November 12, Seoul Mayor Park Won-soon pledged to reduce South Korea’s reliance on nuclear energy through a new energy policy dubbed “Seoul, City of the Sun”.  Park described the policy as “a five-year plan to supply [...]