SEOUL, Dec. 8 (Korea Bizwire) – South Korea said Thursday that it will gradually complete initial public offerings (IPOs) for eight public energy companies by 2020 to help improve their financial status. The eight firms are Korea South-East Power Co., Korea Southern Power Co., Korea East-West Power Co., Korea Western Power Co., Korea Midland Power [...]
SEOUL, Nov. 30 (Korea Bizwire) – In an effort to promote new and renewable energy, and stabilize fluctuating prices, the government has decided to institute “20-year fixed-price contracts” that will better guarantee business profits as well as attract more investment in the sector. According to the Ministry of Trade, Industry & Energy, the government will [...]
SEOUL, Nov. 30 (Korea Bizwire) – South Korea’s SK Group said Wednesday that it has agreed with a Chinese chemicals maker to scrap their plan to establish a joint venture to produce butanediol, a key material used to make synthetic fibers. In 2013, SK Global Chemical and Sinopec announced a plan to invest some 680 [...]
ANDONG, South Korea, Nov. 29 (Korea Bizwire) – K-Water’s (Korea Water Resources Corporation) Andong regional office recently found a solution to the long-lived problem of cleaning up thousands of tons of floating debris near dams in the area, deciding to recycle the floating matter instead of wasting it. According to officials, hundreds of millions of [...]
SEOUL, Nov. 25 (Korea Bizwire) – K-Water, South Korea’s state water resources company, said Friday that it has begun to raise funds worth about 100 billion won (US$84 million) to build the world’s largest floating power-generating facilities. The energy company said it plans to sign deals with institutional investors by March next year to build [...]
SEOUL, Nov. 24 (Korea Bizwire) – South Korea’s SK Group will work with oil producers of the Middle East to find new business models beyond developing petroleum products, the conglomerate said Thursday. The group’s chairman Chey Tae-won, visiting the region this week, met with CEOs of sovereign funds, oil companies and other partner firms, and [...]
SEOUL, Nov. 22 (Korea Bizwire) – A joint research team from the Korea Institute of Science and Technology and Gwangju Institute of Science and Technology have developed solar cells with better life and efficiency, using graphene – a near-transparent, high electricity conductive carbon allotrope, often used in electronic devices such as smartphone touchscreens. The new [...]
JINCHEON, South Korea, Nov. 22 (Korea Bizwire) – Another eco-friendly energy town has been established in South Korea, this time in Jincheon County, North Chungcheong Province. The Korean government has been investing in areas near incineration plants and human waste disposal facilities shunned by the general public to transform municipalities into environmentally-friendly energy towns. Such [...]
SEOUL, Nov. 21 (Korea Bizwire) – The increase of single-person households in Korea has brought about another change in household consumption – the declining use of natural gas (liquefied natural gas). According to the Korea City Gas Association and other industry sources, although the number of households in Korea increased from 10.95 million in 2005 [...]
SEOUL, Nov. 15 (Korea Bizwire) – SK Innovation, an energy affiliate of SK Group, said Monday that it will establish a second EV battery plant at its battery complex in Seosan, South Chungcheong Province. The new factory will sit on 40,000 square meters of land, which is similar to its current plant, but with a [...]