SEOUL, June 23 (Korea Bizwire) — The state-run Korea National Oil Corp. (KNOC) said Monday it is closely monitoring the global oil supply and preparing for the possible release of oil reserves following reports that Iran is pushing to close the Strait of Hormuz. “We began 24-hour monitoring of changes in international oil prices and [...]
SEOUL, June 22 (Korea Bizwire) — In a bid to bolster its global R&D capabilities, South Korea’s LG Energy Solution held its first-ever European edition of the Battery Tech Conference (BTC) this week in Frankfurt, Germany, drawing top science and engineering talent from across the continent. The BTC, LG Energy Solution’s flagship global recruitment initiative, aims [...]
SEJONG, June 20 (Korea Bizwire) — The administration of President Lee Jae-myung is accelerating plans for a nationwide renewable energy infrastructure overhaul, with a transformative “Energy Highway” at the center of its strategy to upgrade Korea’s industrial base and compete in the global clean energy transition. In a briefing to the National Planning Commission on [...]
SEOUL, June 19 (Korea Bizwire) – South Korea’s energy supply has yet to experience any disturbance from the Israel-Iran conflict, Seoul’s industry ministry said Thursday, noting it is maintaining an emergency mode in response to escalating tensions in the Middle East. The Ministry of Trade, Industry and Energy held an emergency meeting with officials from [...]
SEOUL, June 19 (Korea Bizwire) — The chairman of Daewoo Engineering & Construction (E&C) Co. has paid a courtesy call on Mozambican President Daniel Chapo to seek support for potential liquefied natural gas (LNG) construction projects in the African nation, the company said Thursday. During his visit to the presidential office in Maputo on Wednesday [...]
SEOUL, June 19 (Korea Bizwire) — South Korea’s state-run Korea Hydro & Nuclear Power Co. (KHNP) said Thursday it plans to apply for standard design approval of its innovative small modular reactor (SMR) model later this year to expand the country’s foothold in the next-generation global nuclear power market. KHNP plans to draw up the [...]
SEOUL, June 19 (Korea Bizwire) – LG Energy Solution, South Korea’s leading battery manufacturer, said Thursday it has signed a deal with Toyota Tsusho Corp., a trading company under Japan’s Toyota Group, to set up a battery recycling joint venture (JV) in the United States. The new company, Green Metals Battery Innovations LLC, will be [...]
SEOUL, June 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Monday it has jointly developed a high-performance adhesive for automotive power semiconductors with Japan’s Noritake Co. The two companies have developed an advanced silver paste used to bond silicon carbide (SiC) chips and substrates used in automotive power semiconductors, LG [...]
SEOUL, June 16 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s leading battery manufacturer, said Monday it has secured a deal with China’s Chery Automobile Co. to supply cylindrical electric vehicle (EV) batteries. Under the deal, LG Energy Solution will supply a combined 8 gigawatt-hours of its next-generation 46-series cylindrical batteries to Chery Automobile [...]
SEOUL, June 15 (Korea Bizwire) — A sharp spike in global oil prices, triggered by Israel’s recent airstrike on Iranian nuclear facilities, is injecting fresh uncertainty into South Korea’s refining sector just as it showed signs of recovery. Industry analysts say the attack—amid already fragile geopolitical conditions—has heightened concerns over global supply disruptions and intensified [...]