SEOUL, June 26 (Korea Bizwire) — South Korea is pushing to build two hydrogen clusters in east coast provinces as part of efforts to foster the growth of hydrogen-related businesses, including hydrogen batteries, the industry ministry said Thursday. The country will start constructing a special industrial complex for hydrogen storage and transportation across the eastern [...]
SEOUL, June 26 (Korea Bizwire) — In a global first, South Korea’s Korean Register (KR) and HD Hyundai have successfully demonstrated a technology that captures and recycles boil-off gas from LNG-fueled ships under construction, repurposing it as city gas for onshore use. The trial was conducted at HD Hyundai Heavy Industries’ Ulsan shipyard on a [...]
SEOUL, June 25 (Korea Bizwire) — South Korea has launched an integrated system that provides real-time information on power generation and consumption, enabling swift adjustments to how much power should be generated, as well as where the power would come from, the industry ministry said Wednesday. Information on power grids, which had been dispersed across [...]
SEOUL, June 24 (Korea Bizwire) — In a striking display of corporate soft power, Saudi Aramco, the world’s largest oil producer, is leading a campaign to reduce plastic waste at baseball stadiums in Seoul—an unlikely green initiative from a company synonymous with hydrocarbons. Aramco Korea announced Tuesday that it will expand its reusable container program to [...]
SEOUL, June 24 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-largest refiner by sales, said Tuesday it is considering producing biofuel by recycling waste from palm oil mills in Indonesia. The initiative, which also aims to cut greenhouse gas emissions, involves using palm oil mill effluent (POME) to produce bio-based raw materials while reducing [...]
SEOUL, June 24 (Korea Bizwire) — Hyundai Engineering & Construction (E&C) Co. said Tuesday it has signed an early works agreement (EWA) with Finland’s state-owned energy company Fortum and U.S. nuclear firm Westinghouse to jointly pursue the construction of a new nuclear power plant in Finland. The agreement, signed last week at Fortum’s headquarters in [...]
SEOUL, June 23 (Korea Bizwire) — The state-run Korea National Oil Corp. (KNOC) said Monday it is closely monitoring the global oil supply and preparing for the possible release of oil reserves following reports that Iran is pushing to close the Strait of Hormuz. “We began 24-hour monitoring of changes in international oil prices and [...]
SEOUL, June 22 (Korea Bizwire) — In a bid to bolster its global R&D capabilities, South Korea’s LG Energy Solution held its first-ever European edition of the Battery Tech Conference (BTC) this week in Frankfurt, Germany, drawing top science and engineering talent from across the continent. The BTC, LG Energy Solution’s flagship global recruitment initiative, aims [...]
SEJONG, June 20 (Korea Bizwire) — The administration of President Lee Jae-myung is accelerating plans for a nationwide renewable energy infrastructure overhaul, with a transformative “Energy Highway” at the center of its strategy to upgrade Korea’s industrial base and compete in the global clean energy transition. In a briefing to the National Planning Commission on [...]
SEOUL, June 19 (Korea Bizwire) – South Korea’s energy supply has yet to experience any disturbance from the Israel-Iran conflict, Seoul’s industry ministry said Thursday, noting it is maintaining an emergency mode in response to escalating tensions in the Middle East. The Ministry of Trade, Industry and Energy held an emergency meeting with officials from [...]