South Korea Secures Major Nuclear Power Deal in Czech Republic, Marking Breakthrough in European Energy Market SEOUL, April 30 (Korea Bizwire) — For more than a decade, South Korea’s nuclear industry had its eyes set westward. On a Tuesday in April, that ambition finally crystallized into reality. After months of negotiations and fierce competition with industry [...]
SEOUL, April 30 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner, said Wednesday its net loss widened in the first quarter from a year earlier despite a sharp increase in sales, due to falling oil prices and declining refining margins. Net loss deepened to 125.6 billion won (US$88.4 million) in the three months [...]
SEOUL, April 30 (Korea Bizwire) — South Korea’s major battery makers are increasingly reliant on U.S. subsidies under the Inflation Reduction Act (IRA) as a prolonged slump in electric vehicle (EV) demand—known as the “EV chasm”—drags on, clouding earnings prospects and investment strategies. Now, growing political uncertainty in Washington is further complicating the industry’s outlook. Companies like [...]
PUERTO AYORA, Ecuador, April 29 (Korea Bizwire) — In one of the world’s most ecologically sensitive regions, South Korean tech giant Samsung Electronics is drawing attention for its environmentally conscious e-waste recycling initiative in Ecuador’s Galápagos Islands. Samsung’s Latin America division announced Monday that it has been operating a mobile electronics waste collection program on [...]
JAKARTA, April 29 (Korea Bizwire) — A major electric vehicle (EV) battery value chain project in Indonesia has been thrown into uncertainty after a consortium led by LG Energy Solution withdrew its investment plans, the Jakarta Post reported on Tuesday, delivering a setback to the Southeast Asian nation’s aspirations of becoming a global EV hub. [...]
SEOUL, April 29 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it has partnered with French metal scrap recycler Derichebourg (DBG) to establish a battery recycling joint venture (JV) in France. Under the 50:50 JV, the two companies will build a battery recycling plant in Val-d’Oise, just north [...]
SEOUL, April 28 (Korea Bizwire) — LS Cable & System Ltd., South Korea’s biggest cable company, said Monday its unit has received a 22.7 billion-won (US$15.8 million) submarine power cable deal in Taiwan. LS Marine Solution Co. will install submarine power cables for Taiwan Power Company’s (TPC) offshore wind power plant by May 2026, the [...]
SEOUL, April 28 (Korea Bizwire) — Samsung SDI Co., South Korea’s second-largest battery maker, said Monday it will promote its latest energy storage system (ESS) battery products at a major European battery exhibition next month. Samsung SDI will take part in InterBattery Europe 2025, one of the key exhibitions under The Smarter E Europe — [...]
SEOUL, April 27 (Korea Bizwire) — Coupang announced on April 27 that it has established a new recycling system to repurpose expired “Rocket Fresh Bags,” using their plastic components to manufacture cargo pallets. Introduced in March 2020, Rocket Fresh Bags are reusable insulated bags designed to deliver fresh food while minimizing environmental impact. Made from high-strength [...]
PYEONGTAEK, April 25, (Korea Bizwire) — The city of Pyeongtaek in Gyeonggi Province is emerging as a national leader in South Korea’s hydrogen economy, expanding its infrastructure, attracting global investment, and advancing research to position itself at the forefront of clean energy innovation. On April 25, city officials detailed an ambitious roadmap that includes scaling [...]