SEJONG, Dec. 12 (Korea Bizwire) — South Korean energy companies are resisting a recent government decision to impose a huge tariff on steel giant POSCO for its imports of low-priced liquefied natural gas (LNG), industry sources said Tuesday. The backlash comes after the Korea Customs Service (KCS) informed the country’s leading steelmaker on Nov. 30 [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korean chemicals maker Kumho Petrochemical Co. has filed a lawsuit against the U.S. government over the imposition of high anti-dumping duties on its synthetic rubber product, industry sources said Monday. In July, the U.S. Department of Commerce slapped anti-dumping duties of 44.3 percent on emulsion styrene butadiene rubber [...]
NAJU, South Korea, Dec. 8 (Korea Bizwire) – The head of the Korea Electric Power Corp. stepped down Friday, shortly before the end of his five-year term, after getting the state-run utility firm a step closer to securing a nuclear project in Britain. Cho Hwan-eik announced his decision to step down after KEPCO was selected [...]
SEOUL, Dec. 8 (Korea Bizwire) — South Korea will ramp up efforts to develop technologies related to nuclear decommissioning as the country’s oldest reactor is undergoing the lengthy, costly process of being dismantled, the energy ministry said Friday. The Ministry of Trade, Industry and Energy launched a consultative body composed of state-run utilities, construction companies [...]
SEOUL, Dec. 7 (Korea Bizwire) – The head of Korea Electric Power Corp. has offered to quit, the company said Thursday, after South Korea’s state-run utility firm was selected as the preferred bidder in a project to build a nuclear power plant in Britain. Cho Hwan-eik said he thought that by stepping down he can [...]
SEOUL, Dec. 6 (Yonhap) — Hanwha Energy Corp., a South Korean renewable energy developer, said Wednesday that it has won a US$50 million deal to build a solar power plant in Malaysia for a local state-run power company, Tenaga Nasional. Hanwha said it is set to break ground for the 48-megawatt solar facility in Chuping, [...]
SEOUL, Dec. 1 (Korea Bizwire) — A further rise in international oil prices is expected to impact the South Korean economy negatively by sapping consumer spending and corporate investment, a private think tank said Friday. Crude prices have recently surpassed the US$60 mark per barrel on a global economic recovery and on hopes for the [...]
SEOUL, Nov. 30 (Korea Bizwire) – A new report has revealed that South Korean electric car owners find charging their car’s battery stressful, mainly due to the lack of charging stations in the country. Consumers were most concerned with the driving range of electric vehicles before making a purchase, while range anxiety and having to charge [...]
SEOUL, Nov. 30 (Korea Bizwire) — The state-run Korea Electric Corp. (KEPCO) said Thursday it will push to build electric vehicle (EV) charging stations in the Dominican Republic, a project worth US$30 million. The KEPCO signed a memorandum of understanding with the Dominican Republic’s National Energy Commission (CNE) in Santo Domingo, the capital city of [...]
SEOUL, Nov. 29 (Korea Bizwire) — Major South Korean utilities firms and manufacturers have urged the government to take measures to stabilize the carbon market, as supply shortages are driving up the price of emissions credits, industry officials said Wednesday. The Korea Chamber of Commerce and Industry (KCCI) has delivered a petition by 21 companies, [...]