SEOUL, Jul. 9 (Korea Bizwire) – The Export-Import Bank of Korea (Korea Eximbank) announced on July 8 that it will provide $150 million in project financing for a major solar power project in the United Arab Emirates (UAE), won by the Korea Western Power Co. This ambitious venture, located in the UAE’s desert region, involves the [...]
SEOUL, Jul. 4 (Korea Bizwire) – The South Korean Ministry of Environment announced on July 3 that the country is on the brink of a significant clean energy milestone, with 992 hydrogen-powered buses currently in operation nationwide. This puts the nation on the cusp of reaching 1,000 hydrogen buses on its roads, a goal set in [...]
SEOUL, Jun. 26 (Korea Bizwire) –In a significant step towards a hydrogen-powered future, SK E&S announced on June 27 the completion of South Korea’s first liquid hydrogen refueling station in Gyeonggi Province. The facility, the Icheon Daeheung Liquid Hydrogen Refueling Station, was inaugurated in Daewol-myeon, Icheon. The station is operated by SK Plug Hyverse (Hyverse), [...]
SEOUL, Jun. 20 (Korea Bizwire) — President Yoon Suk Yeol said Thursday that South Korea will create a small modular reactor (SMR) industrial complex in the southeastern city of Gyeongju and a hydrogen industrial cluster in its surrounding North Gyeongsang Province to foster the emerging energy sector and boost the local economy. Yoon announced the [...]
SEOUL, Jun. 18 (Korea Bizwire) — Chang Jae-hoon, president and CEO of Hyundai Motor Co., has been named co-chair of the Hydrogen Council, a global corporate initiative with a united vision for hydrogen adoption for a clean energy transition, according to the company Tuesday. Chang will join Sanjiv Lamba, CEO of Linde plc, to lead [...]
SEOUL, Jun. 14 (Korea Bizwire) — Exports of hydrogen-powered fuel cell electric vehicles (FCEVs) plunged more than 70 percent on-year during the first five months of 2024, industry data showed Friday. According to data from the Korea Automobile Manufacturers Association, the number of hydrogen-powered FCEVs shipped overseas during the January-May period reached 60 units, down [...]
SEOUL, Jun. 11 (Korea Bizwire) — The state-run Korea Hydro & Nuclear Power Co. (KHNP) said Tuesday it has begun the construction of a tritium removal facility for a nuclear power plant in Romania. KHNP won the 260 billion-won (US$188 million) project last year at the Cernavoda Nuclear Power Plant, some 170 kilometers east of [...]
SEOUL, May 31 (Korea Bizwire) — South Korea plans to build up to three new nuclear reactors by 2038 in line with efforts to cut carbon emissions and meet the growing electricity demand, officials said Friday. The plan, which will run from 2024 to 2038, comes under the biennial energy blueprint submitted by a group [...]
SEOUL, May 31 (Korea Bizwire) – Hyundai Engineering & Construction has commenced construction on a large-scale hydrogen production facility based on water electrolysis in the renewable energy complex of Buan County, North Jeolla Province. The groundbreaking ceremony on May 30 marked the beginning of the construction phase for this significant project. The event was attended by [...]
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 [...]