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S. Korea, U.S. Launch Electric Certification System for Steel Trade

S. Korea, U.S. Launch Electric Certification System for Steel Trade

SEOUL, May 16 (Korea Bizwire) — South Korea’s trade industry said Thursday it has agreed with the United States to launch an electronic certification system (eCERT) for the export and import processing of steel products. The agreement will connect the eCERT, operated by the U.S. Customs and Border Protection, with the Korea Iron & Steel [...]

S. Korea Promotes Carbon-free Energy Initiative at Energy Ministerial Meeting

S. Korea Promotes Carbon-free Energy Initiative at Energy Ministerial Meeting

SEOUL, May 16 (Korea Bizwire) — South Korea’s industry ministry said Thursday it has promoted the Carbon-Free Energy initiative (CFE) during an energy ministerial meeting held in Indonesia this week, in line with efforts to promote the use of clean energy to address climate change. According to the Ministry of Trade, Industry and Energy, South [...]

South Korea’s HD Hyundai Shifts Into Offshore Wind With New Philippines Production Hub

South Korea’s HD Hyundai Shifts Into Offshore Wind With New Philippines Production Hub

SEOUL, May 16 (Korea Bizwire) – HD Hyundai, a major South Korean shipbuilder, is accelerating its foray into the offshore wind industry by establishing an overseas manufacturing base. The company has decided to lease a portion of the land and facilities at the Subic Shipyard in the Philippines, aimed at expanding its production of offshore wind [...]

South Korean Power Cable Maker Tops Trading on AI Data Center Hopes

South Korean Power Cable Maker Tops Trading on AI Data Center Hopes

SEOUL, May 14 (Korea Bizwire) – Taihan Electric Wire emerged as the most actively traded stock on South Korea’s equity market on May 13, buoyed by expectations that the artificial intelligence boom will spur investment in power infrastructure to support expanding data centers. Shares of Taihan Electric Wire closed at 18,110 won on the main Kospi [...]

S. Korea, Kyrgyzstan Discuss Renewable Energy Projects

S. Korea, Kyrgyzstan Discuss Renewable Energy Projects

SEOUL, May 10 (Korea Bizwire) — South Korea’s industry ministry on Friday discussed potential cooperation in renewable energy projects with Kyrgyzstan, aiming to strengthen partnerships and explore joint opportunities. Industry Minister Ahn Duk-geun met his Kyrgyz counterpart Taalaibek Ibraev in Seoul to seek broader bilateral cooperation in the energy sector, according to the Ministry of [...]

Hyosung Heavy Industries Pioneers Commercial Hydrogen Engine Power Generation

Hyosung Heavy Industries Pioneers Commercial Hydrogen Engine Power Generation

SEOUL, May 9 (Korea Bizwire) – In a groundbreaking achievement, Hyosung Heavy Industries has successfully commercialized the world’s first hydrogen engine power generator, a crucial product for developing next-generation carbon-free power solutions. Since mid-April, Hyosung has initiated full operations of a 1-megawatt hydrogen engine power generator installed at Hyosung Chemical’s Yongyeon 2 plant in Ulsan, South [...]

South Korea Shuns Russian Naphtha, Leaving Hundreds of Thousands of Barrels Stranded

South Korea Shuns Russian Naphtha, Leaving Hundreds of Thousands of Barrels Stranded

SEOUL, May 8 (Korea Bizwire) – Hundreds of thousands of barrels of Russian naphtha, a crucial raw material for plastics and synthetic fibers, have been stranded at sea for over a week as South Korea, a major buyer, shuns cargoes from the nation following its invasion of Ukraine, according to Bloomberg. The standoff is a consequence [...]

South Korea’s Battery Giants Scramble for Compensation as Global EV Demand Cools

South Korea’s Battery Giants Scramble for Compensation as Global EV Demand Cools

SEOUL, May 7 (Korea Bizwire) – The electric vehicle fervor that once gripped global markets seems to be waning, and South Korea’s battery industry is feeling the pinch. In the aftermath of a sharp decline in demand for electric vehicles since mid-2023, major players in South Korea’s battery sector find themselves navigating compensation negotiations with international [...]

U.S. Plans Up to 43.5 Pct Anti-dumping Tariff on S. Korean Aluminum Extrusion

U.S. Plans Up to 43.5 Pct Anti-dumping Tariff on S. Korean Aluminum Extrusion

SEJONG, May 3 (Korea Bizwire) — The United States has made a preliminary decision to impose up to a 43.5 percent anti-dumping tariff on aluminum extrusion imports from South Korea, officials said Friday. The U.S. Department of Commerce plans to impose 2.42 percent anti-dumping tariffs on aluminum extrusion produced by Shinyang Metal and 43.56 percent [...]