SEOUL, Nov. 12 (Korea Bizwire) — Experts have raised concerns that South Korea supply of electricity may come under strong pressure in the winter months as an increasing number of companies and buildings are replacing oil or natural gas with electricity to run their heating systems. “More than 60 percent of total energy consumption in [...]
SEOUL, Nov. 12 (Korea Bizwire) — South Korea’s big-three rechargeable battery makers have agreed to create a fund to jointly develop next-generation battery technologies and foster related industries, the industry ministry said Monday. The companies — LG Chem Inc., Samsung SDI Co. and SK Innovation Co. — signed a memorandum of understanding for joint R&D [...]
SEOUL, Nov. 8 (Korea Bizwire) — The government said Thursday it will scrap all benefits given to low-emission diesel vehicles in an effort to eventually take diesel cars off the roads to help curb fine dust. The decision to abolish the government’s “clean diesel policy” was part of a set of measures that the environment [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korean refiners and petrochemical companies are struggling to diversify imports of ultralight crude following the U.S. reimposition of sanctions on Iran over its nuclear program, industry sources said Thursday. Washington on Monday reinstated all Iranian sanctions removed under the 2016 nuclear deal but allowed South Korea and seven [...]
WASHINGTON/SEOUL, Nov. 5 (Korea Bizwire) — The United States on Monday granted a waiver to South Korea and seven other nations after renewing its ban on imports of Iranian oil. U.S. Secretary of State Mike Pompeo announced that the temporary exemptions were being given based on “specific circumstances” and to ensure a well-supplied oil market. [...]
SEOUL, Nov. 2 (Korea Bizwire) — SK Innovation Co. and SK E&S Co. announced yesterday a ribbon cutting ceremony for a new energy storage system (ESS) at Ulsan Complex (Ulsan CLX), SK’s main production center. An ESS captures energy produced at periods when energy consumption is low for use at a later time when energy [...]
SEOUL, Nov. 1 (Korea Bizwire) — Hyundai Motor Co. and SK Networks Co. have joined hands to create new infrastructure for the establishment of an electric car charging station. Hyundai revealed yesterday that it had signed an MOU with SK Networks that would make this possible. According to the MOU, Hyundai will develop high-speed electric [...]
SEOUL, Oct. 29 (Korea Bizwire) — SK Innovation Co. announced yesterday that a joint venture between subsidiary SK Global Chemical Co. and China’s state-run China Petrochemical Corp., known as Sinopec Group, had held a race aimed at raising environmental awareness in China. A total of 170 company employees participated in the running exercise held at [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korea’s state-utility firm said Thursday it has built a 3.5-megawatt floating solar farm on waters located at a coal-fired power plant to produce clean energy. The Korea East-West Power Co. (EWP) said it has installed solar panels on water near a coal ash deposit site at the Dangjin [...]
JINDO, Oct. 25 (Korea Bizwire) — A move to push for a large-scale solar energy project initiated by community citizens for the first time in South Korea is gaining attention. The energy project to be set up on Jindo, an island in South Jeolla Province, will be led by cooperative members and is expected to [...]