SEOUL, Dec. 17 (Korea Bizwire) — Ford Motor Co. has canceled a 9.6 trillion-won (US$7.4 billion) battery supply contract with LG Energy Solution, a rare rupture in one of the world’s largest EV supply chains that is heightening alarm over the sector’s deepening slowdown. LG Energy Solution disclosed Wednesday that Ford had terminated the agreement, which [...]
SEOUL, Dec. 17 (Korea Bizwire) — A long-running management dispute at Korea Zinc intensified this week as rival shareholder groups clashed over the company’s plan to build a massive smelter in Tennessee, a project estimated to be one of its largest overseas investments. On Wednesday, Youngpoong Group and private-equity firm MBK Partners—major shareholders aligned against [...]
BUSAN, Dec. 17 (Korea Bizwire) — South Korea has begun real-world testing of a new solar-generating window film designed to turn high-rise buildings into power producers, marking a potential breakthrough for urban renewable energy. Korea Southern Power (KOSPO) said Tuesday it has launched a demonstration project with the Korea Institute of Materials Science to evaluate [...]
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 [...]