SEOUL, March 30 (Korea Bizwire) – LG Electronics Inc. said Tuesday it has joined hands with local partners to develop renewable energy technology and achieve carbon neutrality. Under the partnership with Korea Water Resources Corporation and POSCO, the country’s largest steelmaker, LG will collaborate in building a renewable energy cluster here. The three will work [...]
SEOUL, March 23 (Korea Bizwire) – South Korea said Tuesday it plans to build two facilities that collect by-product hydrogen and transport the resource in an effort to further boost the country’s green energy drive. The country will spend 6.3 billion won (US$5.59 million) on the project, according to the Ministry of Trade, Industry and [...]
SEOUL, March 22 (Korea Bizwire) — GS Energy Corp., an energy unit of South Korean conglomerate GS Group, said Monday it will build and operate a power plant fired by liquefied natural gas (LNG) in Vietnam. GS Energy said it will build a 3 gigawatt LNG-fired power plant in southern Vietnam in a deal estimated [...]
SEOUL, March 9 (Korea Bizwire) — South Korea on Tuesday launched a new committee with business groups from chip and display industries aimed at cutting emissions of greenhouse gases, in line with the country’s vision to go fully carbon neutral by 2050. Under the ties with the Korea Semiconductor Industry Association and the Korea Display [...]
SEOUL, March 8 (Korea Bizwire) — S-Oil Corp., South Korea’s No. 3 oil refiner, said Monday it is investing 8.2 billion won (US$7.3 million) in a fuel cell developer to diversify its energy portfolio. The refiner owned by Saudi Aramco said in a regulatory filing that it will acquire a 21 percent stake in Fuel [...]
SEOUL, March 7 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner, said Sunday it will sell its stake in U.S. shale oil mines to a local glycerin company as part of its business reorganization strategy. SK Innovation said its U.S. affiliate SK E&P America will finalize the deal this month to sell its [...]
SEOUL, March 5 (Korea Bizwire) — A U.S. trade panel has said SK Innovation Co. misappropriated trade secrets of its South Korean rival LG Energy Solution Ltd. for its development of electric vehicle (EV) batteries, in a decision that could jeopardize SK Innovation’s battery businesses in the United States. The U.S. International Trade Commission (ITC) [...]
SEOUL, March 2 (Korea Bizwire) – South Korea’s five major conglomerates announced Tuesday they plan to invest 43 trillion won (US$38.2 billion) in the hydrogen industry in the latest move to meet the growing demand for the energy source. Under the plan, SK, Hyundai Motor, POSCO, Hanwha and Hyosung will build a wide range of [...]
SEOUL, Feb. 26 (Korea Bizwire) — Research from a Seoul-based civic group claimed that the bioenergy industry – which has been growing at a rapid pace backed by policy support – is actually not as clean as its proponents would have you believe, with its raw material import sources creating human rights and environment problems. [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korea said Thursday it plans to suspend the operations of more coal-powered plants during spring time in line with its efforts to cut the emissions of fine dust. Under the plan, the country plans to halt the operation of 19 to 28 coal plants in March depending on [...]