SEOUL, Nov. 9 (Korea Bizwire) — Shares of South Korean battery makers and renewable energy suppliers got a fresh boost Monday as investors bet on Joe Biden’s win in the U.S. presidential election with clean energy pledges. Biden’s green energy plan includes significant investments in charging infrastructure for electric vehicles (EVs) and updating government vehicle [...]
SEOUL, Nov. 1 (Korea Bizwire) — Eight units of South Korea’s third-largest conglomerate SK Group will participate in a global renewable energy campaign also joined by Google Inc. and Apple Inc., the group said Sunday. The SK firms will be the first South Korean companies to take part in the RE100 campaign that calls for [...]
SEOUL, Oct. 30 (Korea Bizwire) — President Moon Jae-in said Friday the government plans to invest more than 20 trillion won (US$17.7 billion) in electric vehicles and other areas of green mobility by 2025. The president announced the investment plan, part of the administration’s ambitious Korean New Deal initiative, as he traveled to a manufacturing [...]
SEOUL, Oct. 30 (Korea Bizwire) – South Korea on Friday unveiled its master plan to further the electric vehicles (EV) and hydrogen fuel cell automobile sector by expanding the number of charging stations while making such cars more affordable for the people. Under the blueprint, the country will increase the number of accumulated sales of [...]
SEOUL, Oct. 27 (Korea Bizwire) — Hanwha Energy Corp., a South Korean renewable energy company, said Tuesday that it has won a project worth US$185 million to build a solar power plant on Hawaii’s most populated island of Oahu. Under the deal with Hawaiian Electric Co., Hanwha Energy is set to build the 60-megawatt solar [...]
SEOUL, Oct. 12 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner and chemical company, announced on Sunday that it had succeeded in making a prototype of a chemical product by using pyrolysis oil obtained by decomposing waste plastic at high temperatures. The company succeeded in manufacturing chemical prototypes such as solvents and lube [...]
SEOUL, Oct. 9 (Korea Bizwire) — POSCO Energy, a wholly owned energy unit of South Korean steelmaker POSCO, said Friday it has filed a 922 billion-won (US$800 million) claim against U.S.-based FuelCell Energy for damages involving their license deal. On Wednesday, POSCO Energy filed the suit with the International Court of Arbitration of the International [...]
SEOUL, Oct. 5 (Korea Bizwire) – The board of state-run Korea Power Electric Corp. (KEPCO) on Monday approved the company’s plan to participate in a coal-fired power plant construction project in Vietnam despite environment-related controversies. A slew of South Korean companies are seeking to implement the US$2.2 billion project to build the 1,200-megawatt Vung Ang [...]
SEOUL, Oct. 5 (Korea Bizwire) — South Korean oil refiners’ third-quarter earnings are unlikely to recover markedly following their worst performances in the first half due to the fallout from the coronavirus pandemic, industry sources said Monday. The grim outlook comes as leader SK Innovation Co. and three other players have been whipsawed by weak [...]
SEOUL, Sept. 28 (Korea Bizwire) — Prices of domestic electric vehicles (EVs) are gaining attention following Tesla Motors Inc.’s recent announcement that it will come up with a new EV model that costs as little as US$25,000 within the next three years. Experts expect that domestic EV manufacturers will need at least four or five [...]