SEOUL, Jan. 25 (Korea Bizwire) — SK Group, South Korea’s third-largest conglomerate, said Tuesday it is building a new research and development (R&D) center near Seoul as part of efforts to further sharpen its technological edge in eco-friendly businesses. The 1-trillion won (US$834 million) facility, tentatively named “SK Green Techno Campus,” will put together a [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea’s top steel maker POSCO and construction company Samsung C&T Corp said Wednesday they signed an agreement with Saudi Arabia’s sovereign wealth fund on green hydrogen production. Under the deal, the two companies will join hands with Public Investment Fund (PIF) to start a project in Saudi Arabia [...]
SEOUL, Jan. 11 (Korea Bizwire) — Hyundai Engineering Co., a plant engineering affiliate of Hyundai Motor Group, said Tuesday it has secured a deal to construct micro modular nuclear reactors (MMR) for a U.S. developer of the next-generation nuclear energy. Hyundai Engineering said it has agreed to invest US$30 million in Ultra Safe Nuclear Corporation [...]
SEOUL, Jan. 4 (Korea Bizwire) — SK Innovation Co.’s planned sale of its stakes in two Peruvian gas fields to a foreign partner has been canceled amid disapproval from the Peruvian government, a regulatory filing showed Tuesday. The South Korean refiner said in the regulatory filing that its contract with Argentine energy company, Pluspetrol, to [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea’s state power firm Korea Electric Power Corp. (KEPCO) will promote the joint use of its in-house greenhouse gas decomposition technology with the Korea National Railway, a railroad construction and management company, as part of efforts to limit carbon dioxide emissions. The company announced on Wednesday that it [...]
SEOUL, Dec. 24 (Korea Bizwire) — South Korean refiner Hyundai Oilbank Co. announced that it will invest a total of 400 billion won (US$337 million) to build an eco-friendly power plant fueled by both liquid natural gas (LNG) and blue hydrogen. Blue hydrogen is produced from natural gas and produces less CO2 The power plant [...]
SEOUL, Dec. 16 (Korea Bizwire) — SK Inc., the holding firm of South Korea’s No. 3 conglomerate SK Group, said Thursday it and a local private equity fund have invested a combined US$50 million in a U.S. biofuel company, as part of efforts to boost its green energy portfolio. The investment in Fulcrum BioEnergy Inc. [...]
SEOUL, Dec. 9 (Korea Bizwire) — Hyundai Heavy Industries Group, South Korea’s 15th largest conglomerate by assets, said Thursday that its refining affiliate Hyundai Oilbank Co. plans to file for a preliminary screening within this year to go public with local bourse operator Korea Exchange. Hyundai Oilbank aims to trade its shares on South Korea’s [...]
SEOUL, Dec. 9 (Korea Bizwire) — LG Chem Ltd. will bolster investment in North and South America, and Europe, to boost its presence in foreign markets, the company’s top executive has said, citing ample opportunities for growth in the global trend toward sustainability. LG Chem CEO Shin Hak-cheol made the remarks in a recent interview [...]
SEOUL, Dec. 8 (Korea Bizwire) — Retailers are going beyond recycling to introduce upcycled products, so as to go beyond reusing old products to turn them into value-added merchandise. Hyundai Department Store Co. used old banners displayed on the outer walls of the store for advertisement and promotion to make upcycled bags, which are available [...]