SEOUL, Jul. 24 (Korea Bizwire) — A South Korean research team has developed a new technology that can significantly reduce the cost of catalysts required to produce hydrogen, an eco-friendly source of energy, by electrolyzing water. The Korea Institute of Materials Science (KIMS) research team announced on Tuesday that it has developed a more affordable [...]
SEOUL, Jul. 18 (Korea Bizwire) — South Korea will build the world’s largest floating solar farm in a fresh water lake next to Saemangeum, a reclaimed area on the west coast, the government said Thursday. The Ministry of Trade, Industry and Energy said the project to build a 2.1 gigawatt (GW) solar farm on the [...]
SEOUL, Jul. 18 (Korea Bizwire) — The installed capacity of solar and wind power rose 52 percent on-year in the first half of this year, leading the growth of renewable energy. Solar energy and wind power accounted for 92.6 percent of the total supply of renewable energy in the first half of the year, the [...]
SEOUL, Jul. 17 (Korea Bizwire) — Overcrowded hydrogen fueling stations in downtown Seoul are pushing the city to come up with emergency measures. The two hydrogen fueling stations in Seoul, located in Sangam and Yangjae, are being overcrowded as Incheon, Gyeonggi Province, and other satellite regions are expanding supply of hydrogen cars despite a lack [...]
SEOUL, Jul. 17 (Korea Bizwire) — It may seem to be a contrarian ploy for a gas station to provide an electric vehicle (EV) charging service, but local refiners have been quick in adding such services in an attempt to capitalize on the fast-growing battery-powered car segment. Three of four major South Korean refiners are [...]
BOGOTA, Jul. 14 (Korea Bizwire) — The mayor of Seoul unveiled a plan Sunday to build bicycle-only roads throughout the South Korean capital city. Mayor Park Won-soon declared his vision for the so-called Cycle Rapid Transit (CRT) for Seoul during his visit to Bogota, the capital of Colombia, which boasts one of the world’s most [...]
SEOUL, Jul. 15 (Korea Bizwire) — Lotte Chemical Corp., a major chemical unit under Lotte Group, said Monday it will establish a petrochemical joint venture with GS Energy Co., an energy-specialized holding company of GS Group. Lotte Chemical and GS Energy signed an agreement to form a joint venture, tentatively named Lotte-GS Chemical Company, this [...]
SEOUL, Jul. 12 (Korea Bizwire) — SK Energy Co. a wholly owned subsidiary of the country’s leading oil refiner SK Innovation Co., announced on Thursday that it will begin a new project to supply eco-friendly energy at its gas stations and My Truck House, a service station for cargo trucks. For the new project, SK [...]
SEOUL, Jul. 9 (Korea Bizwire) — South Korea’s major refiners are expected to see improved earnings for the second half of the year on recovering refining margins, industry observers here said Tuesday. The benchmark Singapore complex gross refining margin (GRM) for the first week of July was estimated at US$6 per barrel, up $2.8 from [...]
SEOUL, Jul. 9 (Korea Bizwire) — It’s no secret that South Korean shipbuilders are flying high in the liquefied natural gas (LNG) carrier market, having bagged more than 80 percent of global orders in recent years. But the real winner in the global LNG carrier market is Gaztransport & Technigaz (GTT) S.A., the world’s No. [...]