SEOUL, June 10 (Korea Bizwire) — The heads of South Korea’s four major conglomerates met Thursday to discuss ways to set up a consultative body on hydrogen in a move that underscored their commitment to fostering the clean energy source. Hyundai Motor Group Chairman Chung Euisun met with SK Group Chairman Chey Tae-won, POSCO Chairman [...]
SEOUL, June 10 (Korea Bizwire) — SK ecoplant Co., a leading South Korean builder formerly known as SK Engineering & Construction Co., has stepped into the heat supply-type solid oxide fuel cell (SOFC) power generation market. The company announced on Wednesday that it has signed an engineering, procurement and construction (EPC) contract with Korea East-West [...]
SEOUL, June 3 (Korea Bizwire) — SK Corp., the holding company of SK Group, said Thursday it has made a strategic investment in Monolith Materials Inc., an American hydrogen company, to ramp up its clean energy business. The holding firm of South Korea’s No. 3 conglomerate said it has signed a deal to acquire stakes [...]
SEOUL, May 31 (Korea Bizwire) — New regulations aimed at promoting resource circulation and plastic recycling should see the approval of recycled transparent PET bottle use in food product packaging from next year at the earliest. The Ministry of Food and Drug Safety (MFDS) and the Ministry of Environment jointly announced plans to amend regulations [...]
SEOUL, May 29 (Korea Bizwire) — South Korea established a presidential committee Saturday to serve as the control tower of the nation’s carbon neutrality drive. President Moon Jae-in said the government-private panel would be a “pivot” in uniting national efforts to achieve net-zero emissions by 2050. He admitted that it would not be easy for [...]
SEOUL, May 28 (Korea Bizwire) – South Korea’s leading steelmaker POSCO has joined hands with Orsted A/S, the world’s largest offshore wind power producer in the areas of offshore wind power and green hydrogen production. The two parties recently signed a memorandum of understanding (MOU) to promote a comprehensive partnership with a focus on domestic [...]
SEOUL, May 26 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, on Wednesday broke ground for a plant in South Korea to extract lithium hydroxide, a key material for electric vehicle (EV) batteries. The ceremony came nearly seven weeks after POSCO’s board of directors approved the plan to build a plant in the [...]
SEOUL, May 17 (Korea Bizwire) — The arms procurement agency said Monday it has signed a deal to purchase hydrogen powered-drones for a pilot operation at the Air Force to boost the military’s surveillance capabilities. Under the 831 million won (US$737,000) contract with Doosan Mobility Innovation Inc., the drones will be delivered to the military [...]
SEOUL, May 7 (Korea Bizwire) — As electric vehicle sales are growing in South Korea, one big issue coming in the foreseeable future is what to do with rechargeable batteries that outlive their useful life for a vehicle. Lithium-ion batteries, a key component that determines an EV’s driving range and performance, inevitably degrade with time [...]
CHANGWON, May 6 (Korea Bizwire) — The southeastern city of Changwon, South Gyeongsang Province is rising as a platform to develop South Korea’s high-altitude wind power technology, the newest addition to a series of renewable energy sources. The Korea Electrotechnology Research Institute, state-run utility Korea Electric Power Corp., and the municipality of Changwon recently held [...]