SEOUL, Jan. 14 (Korea Bizwire) — Market expectations for U.S. fuel cell maker Plug Power Inc. are growing with its share price surging after South Korean conglomerate SK Group made an equity investment in the company. Boosted by SK’s equity investment, the share price of the Nasdaq-listed firm has continued to surge, closing at US$66.02 [...]
SEOUL, Jan. 8 (Korea Bizwire) — Shares in Hyundai Motor Co. soared by nearly 20 percent on Friday as the South Korean carmaker is in talks with Apple Inc. for potential partnership in developing electric cars and batteries. Hyundai Motor jumped 19 percent to 246,000 won, far outperforming the broader KOSPI’s 4 percent gain. “We’ve [...]
SEOUL, Jan. 7 (Korea Bizwire) — SK Group, a South Korean conglomerate, said Thursday it will invest 1.6 trillion won (US$1.5 billion) in U.S. fuel cell maker Plug Power Inc. to expand its footprint in the hydrogen business. SK Holdings Co., the group’s holding firm, and SK E&S Co., a natural gas subsidiary, will acquire [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea said Wednesday it will spend 150.1 billion won (US$137.8 million) on climate and environment-related research next year, up 12.9 percent from this year, to bolster the country’s efforts to become carbon neutral by 2050. The Ministry of Science and ICT said it will invest in 30 new [...]
SEOUL, Dec. 28 (Korea Bizwire) — Hanwha Solutions Corp., a South Korean energy solutions company, said Monday it has signed a deal to acquire U.S. hydrogen tank firm Cimarron Composites LLC as part of a diversification strategy. Hanwha Solutions plans to complete the process to take over an entire stake in the U.S. industrial tank [...]
SEOUL, Dec. 24 (Korea Bizwire) — SK Incheon Petrochem Co., a South Korean producer of petrochemical products, said Wednesday it had developed eco-friendly tank cleaning technology that can greatly reduce the amount of waste generated by oil storage facilities. Oil storage facilities at oil refining and petrochemical plants, in general, remove sludge inside tanks on [...]
SEOUL, Dec. 23 (Korea Bizwire) — Hanwha Q Cells, a solar solutions unit of chemicals-to-construction conglomerate Hanwha Group, has launched a drive to build and operate a floating solar power plant together with local residents. The company is now engaged in the construction of a floating solar power plant at Hapcheon Dam, located in Hapcheon [...]
SEOUL, Dec. 17 (Korea Bizwire) — South Korea’s top power plant builder Doosan Heavy Industries & Construction Co. said Thursday that it has joined forces with a local government to build an offshore wind farm in seas off the coast of the southwestern part of the country. Doosan Heavy signed a deal with the government [...]
SEOUL, Dec. 16 (Korea Bizwire) — Major South Korean companies in carbon intensive industries are jacking up investment in hydrogen across sectors to cut their greenhouse emissions and capture new business opportunities in the emerging energy sector. Hydrogen can offer solutions in fields ranging from transport to energy storage as an alternative to fossil fuels [...]
SEOUL, Dec. 14 (Korea Bizwire) — Hanwha Energy Corp., South Korea’s renewable energy company, said Monday it has completed a 48-megawatt solar power plant in Malaysia and started commercial production. In 2017, Hanwha Energy won a US$400 million project by the state-run utility firm Tenaga Nasional Berhad (TNB) to build the plant in Malaysia’s northeastern [...]