SEOUL, Sept. 24 (Korea Bizwire) — Seoul city plans to install an eco-friendly air conditioning system, which uses renewable hydrothermal energy created with water from the Han River, at a public transit complex planned to be built by 2027, its officials said Thursday. A hydrothermal energy system is a technology that uses water temperature that [...]
SEOUL, Sept. 24 (Korea Bizwire) – Consuming soy milk like a staple for years, Hur Ji-hyun, a 39-year-old upcycling designer, has always been troubled by a slim plastic straw that comes with every single serving of soy beverage. Having never used the 15-centimeter straw wrapped in plastic and glued to the back of the pack, [...]
SEOUL, Sept. 21 (Korea Bizwire) — An increasing number of South Korean companies are looking into the feasibility of generating offshore wind power as a new source of income. SK E&S Co., a leading South Korean gas provider which recently contracted a 200 megawatts (MW) offshore solar power generation project in the waters near the [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korean major oil refiners, which have had difficulty getting out of a loss-making business structure, are stepping into the hydrogen business, which was once regarded as a rival to their core operations. The country’s four major refiners — SK Innovation Co., GS Caltex Corp., Hyundai Oilbank Co. and [...]
SEOUL, Sept. 10 (Korea Bizwire) — Power plant builder Doosan Heavy Industries & Construction Co. said Thursday it has signed a preliminary deal with the Korea National Oil Corp. (KNOC) to develop a floating offshore wind farm. Under the deal, Doosan Heavy will provide floating wind turbines, while the state-run oil company will work on [...]
SEOUL, Sept. 8 (Korea Bizwire) — Sate-owned companies in the energy sector are jumping into new businesses to adapt to the era of eco-friendly energy. The Korea National Oil Corporation (KNOC), jointly with the city of Ulsan, aims to renovate the gas field in the East Sea, to be shut down in June 2022, to [...]
SEOUL, Sept. 2 (Korea Bizwire) – LG Chem Ltd. has filed a motion with a U.S. trade panel, seeking the issuance of an order sanctioning its rival SK Innovation Co. ahead of a crucial verdict over their electric vehicle (EV) battery patent case. LG Chem claimed that SK Innovation destroyed “highly relevant evidence” after its [...]
SEOUL, Sept. 2 (Korea Bizwire) – South Korea’s exports of eco-friendly automobiles rose nearly 23 percent in the first half of 2020 from a year earlier, data showed Wednesday. Outbound shipments of eco-friendly cars, including electric vehicles, reached US$3.16 billion in the January-June period, taking up 20 percent of the country’s total automobile exports, according [...]
SEOUL, Aug. 28 (Korea Bizwire) — Hanwha Q Cells, a solar solutions unit of chemicals-to-construction conglomerate Hanwha Group, said Friday it will build a solar power plant in Portugal by 2024. Hanwha Q Cells has obtained the “business right” to build a solar power and energy storage system plant, which can generate 315 megawatts of [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s new law on peer-to-peer (P2P) lending is expected to help address deceptive practices and better protect consumers, industry watchers said Wednesday. The law, which takes effect Thursday, requires all P2P lenders to have paid-in capital of at least 500 million won (US$421,000) each and register with the [...]