SEOUL, May 28 (Korea Bizwire) — South Korea’s energy giant SK Innovation Co. said Wednesday that its President Choo Hyeong-wook has been appointed the new chief executive officer (CEO) as part of a leadership reshuffle. Choo, 51, will succeed Park Sang-kyu, who has offered to resign from the post citing personal reasons, according to SK [...]
SEOUL, May 26 (Korea Bizwire) — South Korea has formally expanded the legal framework for hydrogen fuel usage beyond automobiles, paving the way for broader adoption of hydrogen-powered mobility technologies across diverse sectors including logistics and maritime transportation. The Ministry of SMEs and Startups and the city of Ulsan announced on Sunday that the regulatory sandbox [...]
SEOUL, May 25, 2025 — POSCO Group announced Sunday that it will begin full operation of its first dedicated liquefied natural gas (LNG) carrier in the second half of 2025, as part of its strategy to secure a stable energy transport system and expand its presence in the global energy market. The 174,000-cubic-meter vessel, named [...]
SEOUL, May 22 (Korea Bizwire) — The government said Thursday it will invite bids to construct a homegrown energy storage system (ESS), a project estimated to cost around 1 trillion won (US$725 million), in a move aimed at enhancing the efficiency of domestic power production. According to the Ministry of Trade, Industry and Energy, the [...]
SEOUL, May 22 (Korea Bizwire) — China solidified its near-total dominance of the global lithium-ion battery anode materials market in 2024, pushing South Korea’s POSCO Future M out of the global top 10 amid intensifying price competition and overproduction. According to data released Tuesday by SNE Research, global demand for anode materials reached 1.97 million tons [...]
SEOUL, May 22 (Korea Bizwire) — Korea Electric Power Corporation (KEPCO) announced the completion of the country’s largest ammonia combustion testing facility on Tuesday, as the state-run utility accelerates efforts to commercialize carbon-neutral power generation technologies. Located at KEPCO’s Power Research Institute, the new 1-megawatt testbed is designed to verify high-efficiency, low-emission combustion of ammonia—a [...]
TIEN GIANG, Vietnam, May 19 — SK Innovation E&S is rapidly expanding its footprint in the global renewable energy sector, with its Tan Phu Dong (TPD) offshore wind farm in southern Vietnam now fully operational and serving as a strategic base for the company’s green energy ambitions. Located near the Mekong Delta, the 150-megawatt facility is [...]
SEOUL, May 13 (Korea Bizwire) — POSCO Group announced on Tuesday a capital injection exceeding ₩900 billion (approximately $670 million) into its key secondary battery subsidiaries, aiming to weather a temporary slump in electric vehicle (EV) demand and reinforce its position in the battery materials sector ahead of a projected market rebound. The move comes as [...]
SEOUL, May 12 (Korea Bizwire) — For the first time in nearly two decades, nuclear power has surpassed coal to become South Korea’s largest source of electricity, signaling a broader shift in the country’s energy landscape toward cleaner and more sustainable sources. According to the Ministry of Trade, Industry and Energy’s newly released 2024 Energy Supply [...]
DAEJEON, May 12 (Korea Bizwire) — South Korean startup PMI BioTech, a spinoff from the Korea Research Institute of Chemical Technology (KRICT), has signed a five-year export contract worth approximately 12 billion won (roughly $9 million USD) with a major U.S.-based global distributor for its high-purity calcium product derived from oyster shells, the institute announced on [...]