TIEN GIANG, Vietnam, May 19 — SK Innovation E&S is rapidly expanding its footprint in the global renewable energy sector, with its Tan Phu Dong (TPD) offshore wind farm in southern Vietnam now fully operational and serving as a strategic base for the company’s green energy ambitions. Located near the Mekong Delta, the 150-megawatt facility is [...]
SEOUL, May 13 (Korea Bizwire) — POSCO Group announced on Tuesday a capital injection exceeding ₩900 billion (approximately $670 million) into its key secondary battery subsidiaries, aiming to weather a temporary slump in electric vehicle (EV) demand and reinforce its position in the battery materials sector ahead of a projected market rebound. The move comes as [...]
SEOUL, May 12 (Korea Bizwire) — For the first time in nearly two decades, nuclear power has surpassed coal to become South Korea’s largest source of electricity, signaling a broader shift in the country’s energy landscape toward cleaner and more sustainable sources. According to the Ministry of Trade, Industry and Energy’s newly released 2024 Energy Supply [...]
DAEJEON, May 12 (Korea Bizwire) — South Korean startup PMI BioTech, a spinoff from the Korea Research Institute of Chemical Technology (KRICT), has signed a five-year export contract worth approximately 12 billion won (roughly $9 million USD) with a major U.S.-based global distributor for its high-purity calcium product derived from oyster shells, the institute announced on [...]
SEOUL, May 10 (Korea Bizwire) — South Korea has launched a joint public-private task force to spearhead the development of next-generation liquid hydrogen carriers, a strategic initiative to maintain the country’s global edge in shipbuilding and pioneer a future green energy market. The Ministry of Trade, Industry and Energy (MOTIE) announced Friday that it held an [...]
SEOUL, May 8 (Korea Bizwire) — Korea Zinc Co., the world’s biggest refined zinc smelter, said Thursday that it plans to cancel over 2 million of its own shares valued at 1.82 trillion won (US$1.29 billion) this year to boost share value. The retirement of the 2.04 million treasury shares represents 9.85 percent of its [...]
SEOUL, May 8 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday it has acquired General Motors Co.’s entire stake in their joint venture (JV) battery plant in Michigan for 3 trillion won (US$2.04 billion). The acquisition of the Ultium Cells JV No. 3 plant in Lansing, Michigan, is [...]
SEOUL, May 8 (Korea Bizwire) — The United States’ biggest clean energy alliance has joined a carbon-free energy (CFE) initiative led by South Korea, Seoul’s industry ministry said Thursday. The U.S. Clean Energy Buyers Association (CEBA) signed a memorandum of understanding (MOU) for bilateral cooperation with South Korea’s Carbon Free Alliance (CFA) on the sidelines [...]
SEOUL, May 7 (Korea Bizwire) — The state-run Korea Hydro & Nuclear Power Co. (KHNP) submitted a request for arbitration with an international mediation court Wednesday regarding a conflict with parent company Korea Electric Power Corp. (KEPCO) over a payment dispute involving additional construction costs for a nuclear power plant in the United Arab Emirates [...]
SEOUL, May 7 (Korea Bizwire) — South Korea’s landmark bid to export nuclear power plants to the Czech Republic has encountered stiff legal resistance from France, highlighting the intensifying global rivalry in the nuclear energy sector and underscoring Korea’s growing competitiveness. Led by Korea Hydro & Nuclear Power (KHNP), the so-called “Team Korea” secured its position [...]