SEOUL, Jul. 14 (Korea Bizwire) — South Korea’s environment ministry has launched a probe into some imported Mercedes-Benz vehicles, an official said Friday, amid reports about an emissions fraud scandal involving German luxury automaker Daimler. “We have found that there are some 40 kinds of imported Mercedes-Benz vehicles suspected of carrying the emissions manipulation device,” [...]
SEOUL, Jul. 13 (Korea Bizwire) — Blamed for air pollution and speculation of price hikes down the road has dampened demand for diesel-powered vehicles to a four-year low in the first half of this year, industry data showed Thursday. The Korea Automobile Manufacturers Association (KAMA) said among new cars registered in January to May this [...]
SEOUL, Jul. 11 (Korea Bizwire) — The highway toll charges for electric and hydrogen fuel-cell vehicles will halve from September, the transport ministry said Tuesday. The government plans to temporarily operate the discount program for environment-friendly vehicles by 2020, the Ministry of Land, Infrastructure and Transportation said in a statement. Depending on the operation results, [...]
SEOUL, Jul. 11 (Korea Bizwire) — Lotte Chemical Co., South Korea’s No. 2 petrochemical firm, said Tuesday that it will use the proceeds from the initial public offering of its Malaysian unit to finance its facility expansion in the Southeast Asian country. Its Malaysian unit, Lotte Chemical Titan Holdings Berhads, made its market debut there [...]
SEJONG, Jul. 7 (Korea Bizwire) — South Korea’s electricity consumption is expected to hit a record high this summer as the sweltering heat is expected to boost demand for air conditioners and fans, the state-run power market said Friday. The maximum electricity usage will likely reach a record 86.5 million kilowatts during the summer season, [...]
SEOUL, July 6 (Korea Bizwire) – The South Korean Government is supporting investment in energy storage systems (ESS), with plans to double the supply this year amid growing concerns over a possible shortage of electric power caused by the temporary shutdown of aging nuclear power plants in the country. According to data released by the Ministry [...]
SEOUL, Jul. 6 (Korea Bizwire) — The volume of electricity generated from renewable energy hit a record high last year, aided by a surge in power generation coming from biomass and by-product gas, data showed Thursday. According to the data compiled by the Korea Power Exchange, a total of 19.35 million megawatt-hours worth of electricity [...]
SEOUL, Jul. 4 (Korea Bizwire) — Despite electricity shortage worries over the temporary shutdown of eight aging coal-fired power plants last month, the electricity supply in South Korea has remained relatively stable, industry reports said. According to the Korea Power Exchange (KPX), the country’s electricity consumption hit its monthly high on June 30, at 75.41 [...]
SEOUL, Jun. 29 (Korea Bizwire) — SK Group, a South Korean energy and telecom conglomerate, said Thursday that it plans to strengthen business ties and expand investment in the U.S. shale gas sector. Chey Tae-won, chairman of SK Group, attended a ceremony in Washington on Wednesday (local time) to sign a memorandum of understanding with [...]
SEOUL, Jun. 28 (Korea Bizwire) — The presidential office Cheong Wa Dae on Wednesday defended the government’s decision to temporarily suspend the construction of two nuclear reactors, saying it was made after “painstaking deliberations.” On Tuesday, Cheong Wa Dae announced that the government will halt the construction of the reactors in Ulsan, 414 kilometers southeast [...]