SEOUL, Mar. 4 (Korea Bizwire) — The ‘Roadmap for Stimulating the Hydrogen Economy’, announced by the South Korean government, is at the center of criticism for being unrealistic and based on false market analysis. By-product hydrogen, produced during petrochemical processing, is being seen as a new source of energy for eco-friendly vehicles. The volatile oil [...]
SEOUL, Mar. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading electric vehicle (EV) battery maker, is considering a second plant in Europe to meet growing demand, industry sources said Monday. LG Chem already has an electric car battery production plant in Poland. In November, LG Chem decided to invest 651 billion won (US$577 [...]
SEOUL, Mar. 3 (Korea Bizwire) — The share of environment-friendly vehicles jumped to 8.2 percent of South Korea’s passenger car market last year on government subsidies and changing consumer appetite, a car industry association said Sunday. In 2018, the number of environment-friendly vehicles, such as hybrid electric, all-electric and hydrogen fuel-cell electric models, reached 124,979 [...]
SEOUL, Feb. 28 (Korea Bizwire) — South Korea’s industry ministry said Thursday it will suspend the operation of old coal power plants over the March-June period to cope with the intensifying level of fine dust in the country. The Ministry of Trade, Industry, and Energy said it will shut down four of the six plants [...]
SEOUL, Feb. 24 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. sold or received orders for more than 10,000 electric vehicles (EV) coming into this year, corporate sources said Sunday. South Korea’s two largest automakers, and flagships of Hyundai Motor Group, account for 79 percent of all EVs sold in the [...]
SEOUL, Feb. 20 (Korea Bizwire) — Seven out of 10 South Koreans voted in favor of using atomic power, a survey showed Wednesday, amid the Moon Jae-in government’s nuclear phase-out policy. The survey was conducted on 1,000 people aged over 19 to study public opinion on the government’s nuclear policy, the Korea Nuclear Society (KNS) [...]
SEOUL, Feb. 20 (Korea Bizwire) — A gasoline-burning automobile consumed an average 1,159 liters last year, down 2.4 percent from a year earlier, as drivers cut back on spending probably to cope with high prices, industry data showed Wednesday. According to the Korea Petroleum Association, the figure marks the lowest since 2006, when the comparable [...]
SEJONG, Feb. 19 (Korea Bizwire) — South Korean companies imported US$101.2 million worth of Iranian crude last month, the first such move in five months, data showed Tuesday. The January figure represents less than one-fifth of $539 million, the average monthly Iranian crude oil imports for the first seven months of 2018, according to the [...]
DAEJEON, Feb. 19 (Korea Bizwire) — Bangladesh, in its recent effort to develop nuclear technology to overcome the country’s lack of natural resources, will be visiting South Korea for technological cooperation. The Bangladesh Atomic Energy Commission (BAEC) will be holding a technological assistance workshop at the Korea Atomic Energy Research Institute (KAERI) from February 18 [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korea’s coal imports hit a new high last year despite government efforts to phase out the use of fine dust-emitting energy sources, industry data showed Tuesday. The country shipped in 131.52 million tons of coal last year, breaking the record for the second consecutive year. Coal imports in [...]