SEOUL, Mar. 21 (Korea Bizwire) — SK Innovation Co. said Wednesday that its wholly owned U.S. subsidiary, SK E&P America Inc., will buy a 100 percent stake in Longfellow Nemaha, a U.S. gas exploration firm, in the latest move to boost its shale gas exploration projects in North America. SK E&P America said Tuesday that [...]
SEOUL, Mar. 19 (Korea Bizwire) — The two Koreas’ joint development of North Korean major mines, if implemented, is expected to create more than 90,000 jobs in the two Koreas annually, a report by a private think tank showed Sunday. The Seoul-based North Korea Resource Institute issued a report on the prospect of potential inter-Korean [...]
SEOUL, Mar. 12 (Korea Bizwire) — A South Korean consortium made up of steelmaker POSCO and battery maker Samsung SDI Co. will invest 57.5 billion won (US$54 million) to build a cathode plant in Chile by 2021, POSCO said Sunday. The POSCO-Samsung SDI consortium beat 12 companies from seven countries to secure the Chilean project, [...]
SEOUL, Mar. 2 (Korea Bizwire) — Local battery makers are rushing to secure a steady supply of cobalt through import diversification and company mergers as the price of the raw material keeps rising, industry sources said Thursday. The international price of cobalt, a core component of batteries used in smartphones and electric vehicles, jumped to [...]
SEOUL, Feb. 28 (Korea Bizwire) — South Korea will suspend the operation of five aged coal power plants March through June to help ease fine dust pollution, the energy ministry said Wednesday. The Ministry of Trade, Industry and Energy said it will temporarily close the five thermal power plants that are over 30 years old, [...]
SEOUL, Feb. 28 (Korea Bizwire) — A state-run utility firm said Wednesday it will use drones to more efficiently manage coal yards and improve safety for workers as it steps up investment to adopt more unmanned systems in other power plants. The Korea South-East Power Co. demonstrated a drone flight at its coal power plant [...]
SEOUL, Feb. 27 (Korea Bizwire) – POSCO, South Korea’s largest steel producer, said Tuesday it has signed a deal to buy up to 240,000 tons of lithium spodumene concentrate per year from Australia’s Pilbara Minerals, securing the key material for its lithium business. POSCO did not elaborate on how much it will pay for the import of lithium spodumene concentrate. Lithium is a key material [...]
SEOUL, Feb. 26 (Korea Bizwire) — U.S. carmaker Tesla Motors Inc. on Monday launched the Model S P100D sedan, one of the quickest accelerating production cars in the world, in South Korea to absorb a growing appetite for all-electric vehicles (EVs) here. Using Ludicrous mode, or a sudden acceleration mode, the Model S P100D can [...]
SEOUL, Feb. 26 (Korea Bizwire) — Oil spills from a sunken Iranian tanker have not affected South Korean waters since the worst maritime incident in decades took place in the East China Sea more than a month ago, Seoul’s oceans ministry said Monday. The Sanchi, carrying more than 100,000 tons of oil, sank after colliding [...]
SEOUL, Feb. 22 (Korea Bizwire) – A 26.8km stretch of the Gangbyeon Expressway will become a “sun road”, with the Seoul government set to install solar panels on street lights, overpasses, bridges and retaining walls by the end of this year. The government estimates that the solar panels will generate 2.72 million kWh of energy [...]