SEOUL, May 18 (Korea Bizwire) — South Korea will raise incentives for offshore wind farm operators and cut back subsidies on biomass producers to promote more eco-friendly energy sources, the energy ministry said Friday. The Ministry of Trade, Industry and Energy said it will adjust the incentive rates for renewable energy sources based on their [...]
SEOUL, May 17 (Korea Bizwire) — The revival of U.S. sanctions on Iran for its nuclear program is feared to cast a cloud over projects pursued by the state-run Korea Electric Power Corp. (KEPCO) in the Middle Eastern country, the utility firm said Thursday. Defying opposition from its European allies, U.S. President Donald Trump abandoned [...]
TONGYEONG, May 16 (Korea Bizwire) — The farms in Korea’s southern Tongyeong region have become highly profitable by growing subtropical crops. This is due, in part, to the current temperatures that are 4.5 degrees above the norm for this season. The city government of Tongyeong revealed yesterday that local farms were able to harvest high [...]
SEOUL, May 15 (Korea Bizwire) – The Seoul Metropolitan Government announced that it aims to ban test-operations of 15,432 emergency power supply systems in government buildings and high-rise buildings across Seoul on days when air pollution warnings are issued. Standby generators supply automatic backup power for safety systems including fire protection systems and elevators during outages. [...]
SEOUL, May 15 (Korea Bizwire) — South Korea’s state resources developers are gearing up for potential inter-Korean projects amid growing hopes for economic cooperation with North Korea following a landmark summit, sources said Tuesday. At the end of the historic summit in late April, the leaders of South and North Korea adopted a joint declaration [...]
SEOUL, May 14 (Korea Bizwire) — Air pollution was the No. 1 source of concern for South Koreans last year amid a worsening level of fine dust in the country, a report showed Monday. Air pollution scored 3.46 points out of 5 — the highest in the survey — among factors that cause concern to [...]
SEOUL, May 4 (Korea Bizwire) — Bae Min-ji’s ordinary day begins by boiling tap water to drink. The 29-year-old takes a shower using just a single bar of soap and brushes her teeth with a powdered toothpaste. With a tumbler, small cloth bags, a spoon and chopsticks, she is ready to leave the house and [...]
SEOUL, Apr. 30 (Korea Bizwire) — SK Lubricants Co., a unit of the country’s top oil refiner SK Innovation Co., is seeking to beef up its overseas presence through joint ventures (JVs) with global refiners, industry sources said Sunday. SK Lubricants is eying JVs with global players to build plants in the North American region, [...]
SEOUL, Apr. 25 (Korea Bizwire) — The South Korean government and private businesses agreed to establish a special purpose company (SPC) to build hydrogen fueling stations to expand the infrastructure for emission-free vehicles, the commerce ministry said Wednesday. The Ministry of Trade, Industry and Energy signed a memorandum of understanding with local automakers, state-run utilities [...]
SEOUL, Apr. 16 (Korea Bizwire) — South Koreans ranked fifth in per capita energy consumption among member states of the Organization for Economic Cooperation and Development (OECD) in 2016, data released on Monday showed. Individual South Koreans consumed an average of 5.6 TOE (ton of oil equivalent) during that year. The figure places them after [...]