SEOUL, Aug. 21 (Korea Bizwire) — South Korea plans to cut its total power consumption 14 percent by 2030 by improving the energy efficiency of local factories, buildings and cars, the industry ministry said Wednesday. Under the plans, the country aims to save 10.8 trillion won (US$8.94 billion) on energy imports in 2030, while reducing [...]
SEOUL, Aug. 20 (Korea Bizwire) — SK Innovation Co., a major electric vehicle (EV) battery maker in South Korea, said Tuesday it plans complete the development of a battery recycling technology by the end of this year to beef up its competitiveness in the industry. SK Innovation said it is working to find solutions to [...]
SEOUL, Aug. 20 (Korea Bizwire) — Hanwha Q Cells Co., a South Korean solar cell maker, topped the U.S. residential solar module market in the first quarter, industry data showed Tuesday. Hanwha Q Cell’s market share in the sector stood at 27 percent in the first three months of the year, sharply up 15.4 percentage [...]
SEOUL, Aug. 19 (Korea Bizwire) — A South Korean island off the southwestern coast will be fully powered by a low-voltage direct current (LVDC) distribution system, officials here said Monday. LSIS Co., a major power equipment maker, and the Korea Electric Power Corporation (KEPCO) Research Institute said they’ve successfully established a LVDC distribution network on [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s coal consumption increased last year, bucking the global trend for reducing carbon emissions, a report showed Sunday. South Korea consumed 88.2 million tons of oil equivalent (TOE), a unit of energy, in 2018, up 2.4 percent from a year ago, according to the London-based energy company BP’s [...]
SEOUL, Aug. 15 (Korea Bizwire) – SK Innovation Co., South Korea’s biggest refiner, said Thursday it will borrow 800 billion won (US$658 million) overseas by next year to invest in car battery and battery separator plants. SK Innovation has increased in the battery business as it sees a new growth driver for the country’s third-biggest [...]
ULSAN, Aug. 14 (Korea Bizwire) — The city of Ulsan plans to build South Korea’s first pipeline system to supply hydrogen. The city signed an agreement with six agencies and businesses including the Korea Gas Safety Corp. (KGS) on Tuesday to build pipelines between hydrogen filling stations and hydrogen supplier Deokyang Co., and establish a [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea’s electric vehicle (EV) battery makers are expected to face fierce competition in Europe in the upcoming years as European companies are ramping up efforts to expand their clout in the fast-growing sector, a trade organization here said Wednesday. LG Chem Ltd., Samsung SDI Co., and SK Innovation [...]
SEOUL, Aug. 13 (Korea Bizwire) — U.S. carmaker Tesla Motors Inc. on Tuesday launched the Model 3 in South Korea as it strives to absorb a growing appetite for all-electric vehicles (EVs) here. The Model 3 sells at the starting price of 52 million won (US$43,000) without the central government’s subsidy worth 9 million won. [...]
SEOUL, Aug. 1 (Korea Bizwire) — The most important factor that consumers consider when buying an electric vehicle (EV) is the distance one can drive on a fully charged battery, also known as the vehicle’s range. According to a survey of 4,000 consumers conducted by SK Encar, a used car platform, 49.5 percent of the [...]