SEOUL, Feb. 7 (Korea Bizwire) — SK Innovation Co. said Tuesday it plans to spend 7 trillion won (US$5.58 billion) in capital spending this year to shore up its loss-making battery business and aims to achieve a turnaround by next year. The amount earmarked for SK On Co. makes up the substantial portion of the [...]
SEOUL, Jan. 31 (Korea Bizwire) — POSCO International Corp. said Tuesday it will spend 930 billion won (US$756 million) to build two more liquefied natural gas (LNG) terminals in South Korea as it seeks to bolster its energy business. POSCO International broke ground on the Second Gwangyang LNG Terminal earlier in the day, the general [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korean oil refiners’ exports hit a record-high level in 2022, data showed Sunday, on the back of soaring global energy prices amid the protracted war between Russia and Ukraine. The combined exports of local oil refiners reached US$57 billion in 2022, up 71.2 percent from a year earlier, [...]
SEOUL, Jan. 13 (Korea Bizwire) — SK Energy Co., a major South Korean oil refiner, said Friday it is joining hands with a state-run electric power supplier to build electric vehicle (EV) charging infrastructure at traditional gas stations across the country. SK Energy will work with Korea Hydro & Nuclear Power Co. (KHNP) to build [...]
SEOUL, Jan. 6 (Korea Bizwire) — The government plans to slap a 150.9 billion-won (US$118.9 million) fine on the country’s leading refinery, Hyundai Oil Bank Corp., for discharging wastewater with unsafe levels of toxic materials, officials said Friday. The fine is around 1 percent of the company’s annual sales and is the largest amount ever [...]
SEOUL, Dec. 30 (Korea Bizwire) — GS Caltex Corp., a major South Korean refiner, said Thursday it will make and donate “braille first-aid kits” for visually impaired people during the year-end season. The braille first-aid kit is made by inserting various medical items such as ointment, disinfectant and antipyretic analgesic into a flat first-aid kit [...]
SEOUL, Dec. 26 (Korea Bizwire) — SK Energy Co., South Korea’s leading oil refinery and gas station operator, is teaming up with internet portal giant Naver Corp. to convert gas stations into urban logistics bases armed with state-of-the-art technology. The two companies recently signed a business agreement to promote cooperation in developing and establishing logistics [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korean refiner Hyundai Oilbank Co. said Thursday it will introduce the nation’s first game-themed gas station. Hyundai Oilbank, gaming giant Nexon Co. and local fashion brand Peaches collaborated on opening a PARTS Oilbank gas station in Hannam-dong, Seoul using the intellectual property from Nexon’s hit online game “KartRider.” [...]
SEOUL, Dec. 22 (Korea Bizwire) — SK E&S Co., the natural gas power unit of SK Group, said Thursday it will showcase sustainable energy solutions, including a hydrogen-powered fuel cell and drone, as well as electric vehicle charging equipment, at an upcoming U.S. tech event early next month. SK E&S will jointly present the GenDrive [...]
SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s imports of crude oil from the Middle East increased sharply this year amid the international ban on imports of Russian oil, data showed Wednesday. The share of Middle East in the nation’s crude imports stood at 67.1 percent in the first ten months of this year, up [...]