SEOUL, April 17 (Korea Bizwire) — LG CNS Co., an information technology affiliate of South Korea’s LG Electronics Inc., said Thursday it has signed agreements to develop electric vehicle (EV) charging infrastructure and smart city solutions in the United States. Under a deal with the New York City Economic Development Corporation, LG CNS will install [...]
SEOUL, April 16 (Korea Bizwire) — LS Electric Co., a South Korean electric equipment maker, said Wednesday it will invest US$240 million to expand its U.S. production facility by 2030 in response to U.S. President Donald Trump’s import tariffs. LS Electric has recently upgraded its existing production facility in Bastrop, Texas, to add research and [...]
SEOUL, April 14 (Korea Bizwire) — LG Chem has suffered a legal blow in China, where its key battery patent has been invalidated amid a widening intellectual property battle with Chinese rival Longbai, escalating tensions in the global electric vehicle (EV) supply chain. According to industry sources, China’s National Intellectual Property Administration (CNIPA) recently ruled to [...]
SEOUL, April 14 (Korea Bizwire) — Hyundai Mobis Co. said Monday it has developed a new electric vehicle (EV) battery safety technology that automatically discharges fire suppressant in the event of a battery cell ignition to prevent fires from spreading to adjacent cells. The battery technology uses heat-resistant materials and includes a fire suppression device [...]
DAEJEON, South Korea, April 14 (Korea Bizwire) — At SK Innovation’s Environmental Science & Technology Institute in Daejeon, a powerful scent of used cooking oil hangs in the air, signaling an ambitious transformation: converting waste oil into sustainable aviation fuel (SAF). Within the facility’s pilot plant, dark brown waste oil is refined through high-temperature, high-pressure reactors [...]
SEOUL, April 12 (Korea Bizwire) — As South Korea’s petrochemical sector grapples with a historic downturn, the government is expected to unveil new support measures in the coming months, following the completion of a strategic industry consulting project commissioned to address deep structural challenges. The Korea Petrochemical Industry Association recently submitted a final report to [...]
JEJU, South Korea, April 9 (Korea Bizwire) — Jeju Special Self-Governing Province has become the first region in South Korea to commercialize products made from repurposed electric vehicle (EV) batteries, marking a significant step toward a circular energy economy. In partnership with the Ministry of Environment and Jeju Technopark (Jeju TP), the province officially launched a [...]
SEOUL, April 3 (Korea Bizwire) — South Korean steelmakers said Thursday they will set up an “item-by-item” export strategy through close consultations with government officials and industry associations in response to hefty U.S. tariffs. U.S. President Donald Trump imposed 25 percent tariffs on steel and aluminum imports in mid-March and slapped country-specific reciprocal duties on [...]
SEOUL, April 1 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it will acquire General Motors Co.’s entire stake in their joint venture (JV) battery plant in Michigan for 3 trillion won (US$2.04 billion). The planned acquisition of the Ultium Cells JV 3 plant in Lansing, Michigan, is [...]
SEOUL, April 1 (Korea Bizwire) — South Korea’s water industry has surpassed a significant milestone, with total revenue reaching ₩50.997 trillion in 2024, accounting for 2.1 percent of the nation’s gross domestic product, according to new government data released Sunday by the Ministry of Environment. This marks the first time since data collection began in 2011 [...]