SEOUL, March 27 (Korea Bizwire) — South Korea’s possible participation in the Alaska liquefied natural gas (LNG) project will likely be viewed “favorably” in tariff negotiations with the Donald Trump administration, Alaska’s governor has said. Alaska Gov. Mike Dunleavy made the remarks in a roundtable interview with Yonhap News Agency and other news outlets on [...]
SEJONG, March 18 (Korea Bizwire) — South Korean Industry Minister Ahn Duk-geun is set to meet with the governor of Alaska next week in Seoul and discuss Seoul’s possible participation in the gas pipeline project in the U.S. state, diplomatic sources said Tuesday. Ahn plans to hold a face-to-face meeting with Alaska Gov. Mike Dunleavy, [...]
SEOUL, March 11 (Korea Bizwire) — SK Energy Co., a refining arm of SK Group, said Tuesday it has signed a deal to supply renewable aviation fuel to Cathay Pacific Airways. SK Energy will provide more than 20,000 tons of sustainable aviation fuel (SAF) to the Hong Kong flag carrier by 2027, the company said [...]
SEOUL, March 11 (Korea Bizwire) — South Korea’s leading petrochemical companies are bracing for potential credit rating downgrades in the first half of 2025 as financial indicators continue to deteriorate due to a prolonged industry slump. The growing concerns come in the wake of Homeplus’ restructuring following a credit rating downgrade, raising alarms over broader [...]
WASHINGTON, March 4 (Korea Bizwire) — U.S. President Donald Trump is set to say Tuesday that South Korea, Japan and other countries want to be partners as his administration is working on a natural gas pipeline in Alaska, according to excerpts of his planned address to a joint session of Congress. The White House released [...]
SEJONG, March 4 (Korea Bizwire) — South Korea has expressed interest in joining hands with the United States and Japan for the gas pipeline development project in Alaska as part of efforts to improve its trade relations with U.S. President Donald Trump’s administration, sources said Tuesday. Seoul’s Industry Minister Ahn Duk-geun delivered such an intention [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s ambitious deep-sea gas exploration project, codenamed “Daewang Whale,” faces an uncertain future after the first drilling attempt failed to yield economically viable hydrocarbon reserves. With the government unwilling to fund a second drilling phase and the Korea National Oil Corporation (KNOC) grappling with financial instability, the project’s continuation [...]
ULSAN, South Korea, Jan. 1 (Korea Bizwire) — A striking media art installation that captivated visitors at CES 2024 in Las Vegas has found a permanent home in Ulsan’s petrochemical complex. Renamed the Magic Sphere, the 6-meter-wide LED sculpture, formerly known as the “Wonder Globe,” was unveiled during a lighting ceremony at SK Innovation’s Ulsan Complex [...]
SEOUL, Dec. 26 (Korea Bizwire) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder by orders, said Thursday it has received a 742 billion-won (US$508 million) order to build two very large ethane carriers for an Asian shipper by 2027. The South Korean shipbuilder did not offer further details of the deal, including the name [...]
SEOUL, Dec. 24 (Korea Bizwire) – South Korea’s government unveiled a set of measures on December 23 to enhance the competitiveness of its petrochemical industry, which has been grappling with a structural downturn fueled by global oversupply. Industry leaders welcomed the initiative, emphasizing the urgency of swift action to prevent a deeper crisis. Support for [...]