SEOUL, Sept. 7 (Korea Bizwire) — The state-run Korea Gas Corp. (KOGAS) said Friday it will start test runs of a liquefied natural gas (LNG)-powered truck, jointly developed by Daewoo Tata Commercial Vehicle Company, to examine its safety and economic viability. The 400 horsepower-truck will be built on a Tata Daewoo frame and powered by [...]
SEOUL, Sept. 5 (Korea Bizwire) — Local researchers have found a new way to produce synthetic graphite, a highly useful substance, from inexpensive petroleum. The Korea Research Institute of Chemical Technology (KRICT) announced yesterday that Dr. Im Ji-seon’s research team had developed technology that can produce “pitch” using oil residue for the first time in [...]
SEOUL, Sept. 4 (Korea Bizwire) — SK Innovation, a petroleum refining company, said its subsidiary SK Trading International (SKTI) would expand its production of low sulfur fuel, an environmentally-friendly energy source. Since 2010, SKTI has been renting a mega oil tanker in Singapore, utilizing it as a blending tank to add half-refined materials to create [...]
SEOUL, Sept. 4 (Korea Bizwire) — South Korea will create the world’s largest floating solar farm on top of an artificial lake on the west coast to generate power from the clean energy source, the government said Tuesday. Korea Western Power Co., a state-run utility firm, and Ansan City signed a memorandum of understanding to [...]
SEOUL, Aug. 30 (Korea Bizwire) — Hyundai Motor Co., South Korea’s top automaker, said Wednesday it will create a solar power plant on its export pier in the southeastern city of Ulsan to generate clean energy. Hyundai Motor will install a 27-megawatt solar power plant on its shipping pier and a test driving center in [...]
SEOUL, Aug. 29 (Korea Bizwire) — The cost for generating power by burning coal has hit a new high this year. This is due to the decrease in production by major coal producing nations. As Korea’s reliance on coal as an energy source is the highest, and as fine dust emissions from coal power plants [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea’s exports of petroleum products reached an all-time high in the first half of the year, thanks to robust global demand and a rise in oil prices, government data showed Monday. Outbound shipments of petroleum goods reached 260 million barrels in the January-June period, up 4.2 percent from [...]
BUSAN, Aug. 20 (Korea Bizwire) — The city of Busan has announced plans to plant 225,000 trees in a neighborhood with poor air quality, the district of Saha-gu, by 2027. The municipality of Saha-gu announced Saturday that it would be pushing forth a “forest belt project” in order to reduce fine dust levels and alleviate [...]
ULSAN, Aug. 13 (Korea Bizwire) — The city government of Ulsan has chosen the shores off Seosaeng-myeon as the optimal location to install floating wind turbines for a trial run for the first time in South Korea. The city has decided to test an offshore wind farm next year as part of a new innovative [...]
SEOUL, Aug. 9 (Korea Bizwire) — GS-Caltex Corp., the second-largest refiner in South Korea, said Thursday that it will invest 2.6 trillion won (US$2.3 billion) to build an olefins plant in the southern part of the country. The mixed feed cracker in Yeosu will have an annual production capacity of 700,000 tons of ethylene and [...]