SEOUL, Nov. 17 (Korea Bizwire) – South Korea opened its first commercial wind power plant on the southern island of Jeju on Friday, stepping up its renewable energy initiative, a state-run utility company said. Korea South-East Power Co., which is wholly owned by the state-run Korea Electric Power Corp., said the 30-megawatt complex, composed of [...]
SEOUL, Nov. 17 (Korea Bizwire) – More than a month away from the end of the year, the Jeju government revealed that its designated supply of 4,873 electric cars subsidized by the Ministry of Environment had sold out. According to Jeju officials, the remaining 739 were purchased after a regional notice urging the public to purchase [...]
SEOUL, Nov. 17 (Korea Bizwire) – Two days after a 5.4-magnitude earthquake hit the southeastern city of Pohang, the dispute over decommissioning nuclear power plants is gaining new life. Environmental groups that support the current administration’s nuclear energy phaseout policy have based their arguments on the potential dangers posed by natural disasters like earthquakes. In [...]
SEOUL, Nov. 14 (Korea Bizwire) — Hyundai Motor Co., South Korea’s top auto maker, said Tuesday it has been tapped to co-lead a global initiative to promote hydrogen as an alternative energy for transport and other industries. The Hydrogen Council was launched in Davos, Switzerland, in January, with the aim of boosting investment in the [...]
SEOUL, Nov. 14 (Korea Bizwire) – The Moon Jae-in administration’s renewable portfolio standard (RPS) has come under fire from experts for what is being criticized as an insufficient understanding of market dynamics. The RPS requires energy producers with annual production capacities at or above a threshold of 500 MW to either allocate a certain portion [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korean business leaders said Tuesday they have asked Australia to reconsider its plans to restrict natural gas exports, concerned that the measure will affect access to the energy resource. The Federation of Korean Industries (FKI) said it made the request at the Australia-Korea Business Council (AKBC) meeting held [...]
SEOUL, Nov. 13 (Korea Bizwire) – Speaking at the “Climate Summit of Local and Regional Leaders” in Germany on November 12, Seoul Mayor Park Won-soon pledged to reduce South Korea’s reliance on nuclear energy through a new energy policy dubbed “Seoul, City of the Sun”. Park described the policy as “a five-year plan to supply [...]
SEOUL, Nov. 13 (Korea Bizwire) — The sale of electric vehicles in South Korea has exceeded 10,000 units this year, reflecting a growing appetite for emissions-free cars and the country’s improving charging infrastructure, industry data showed Monday. In the January-October period, the number of electric cars sold here was 10,075 units, much higher than the [...]
SEOUL, Nov. 10 (Korea Bizwire) — South Korean oil refiners, led by SK Innovation Co., delivered strong earnings for the third quarter of the year on the back of good refining margins and solid demand for key products, their filings showed on Friday. SK Innovation Co., the top oil refiner, reported an 87 percent rise [...]
SEOUL, Nov. 7 (Korea Bizwire) — South Korea’s state-run nuclear operator said Tuesday it will strengthen seismic design requirements for nuclear power plants under construction and adopt additional anti-quake measures for existing facilities to enhance their overall safety. Korea Hydro & Nuclear Power Co. (KHNP) announced a set of safety measures to address public concerns [...]