SEOUL, Oct. 17 (Korea Bizwire) — SK Innovation Co., South Korea’s top oil refiner, said Tuesday that its joint venture with China’s Sinopec will spend 740 billion won (US$655 million) on expanding its output capacity by some 36 percent in order to meet growing demand. SK Global Chemical Co., SK Innovation’s affiliate, and Sinopec invested [...]
SEOUL, Oct. 10 (Korea Bizwire) — The South Korean government vowed Tuesday to support local companies’ bids to export nuclear reactors overseas, in a move to ease concerns that its nuclear phase-out plan could adversely affect efforts to new secure contracts. The Ministry of Trade, Industry and Energy held a meeting with state-run utilities, construction [...]
SEOUL, Oct. 6 (Korea Bizwire) — Environmental groups called for increased government regulations on privately owned coal-fired power plants’ claims that their coal plants are eco-friendly and provide clean energy. Greenpeace and the Green Consumer Network in Korea said that they presented a petition to the Anti-Corruption and Civil-Rights commission to regulate Posco Energy, SK [...]
SEOUL, Oct. 5 (Korea Bizwire) — South Korean officials have defended the country’s makers of solar cells against a possible safeguard action by the United States during a public hearing, the foreign ministry said Thursday. A team of government officials from the foreign and trade ministries in charge of import regulations in overseas markets participated [...]
SEOUL, Sept. 29 (Korea Bizwire) – The current presidential administration’s plans to phase out nuclear reactors and coal power plants will leave an increased electricity bill for future generations. At a symposium attended by energy experts on September 28, professor Heoh Don of Kwangwoon University presented his research findings, which indicated that the cost per [...]
SEOUL, Sept. 27 (Korea Bizwire) – A meeting held on September 25 was attended by officials from the Ministries of Trade, Industry and Energy and Foreign Affairs and representatives from the South Korean solar power industry to discuss potential repercussions from looming U.S. protectionist activity. The meeting was held in the aftermath of the USITC’s [...]
SEOUL, Sept. 22 (Korea Bizwire) — Tesla Motors Inc.’s Model S 90D is eligible to receive government subsidies in South Korea as the country has recently eased regulations involving battery charging time, the environment ministry said Friday. On Thursday, the Ministry of Environment notified the U.S. electric carmaker of its decision to include the Model [...]
SEOUL, Sept. 20 (Korea Bizwire) – Samsung Biologics Co. said Wednesday its affiliate Samsung Bioepis Co. won a nod from South Korea’s drug agency to sell its biosimilar dubbed SB5. Through the approval granted by the Ministry of Food and Drug Safety, Samsung Biologics said in a regulatory filing that the biosimilar is ready for sale in the country. The SB5 is a biosimilar of Humira released by U.S.-based AbbVie Inc., used for the treatment of various diseases including Crohn’s [...]
SEOUL, Sept. 19 (Korea Bizwire) – South Korea is eyeing Saudi Arabia’s first nuclear power plant project, hoping to export its nuclear technology following a 2009 deal with the United Arab Emirates (UAE), the government said Tuesday. Saudi Arabia, the world’s largest crude exporter, is set to announce a plan to build two nuclear reactors [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korea is speeding up its efforts to expand charging infrastructure for electric vehicles (EVs), as global carmakers’ unveiled road maps for electrification at this year’s Frankfurt Motor Show, industry watchers said Friday. The government is planning to increase the number of fast-charging stations to 3,000 across the country [...]