SEJONG, June 8 (Korea Bizwire) — The government on Monday proposed the construction of two new nuclear reactors over the next 15 years in an effort to help cut the country’s emission of greenhouse gases. The so-called basic plan for power supply calls for building the two nuclear reactors by 2029, bringing the total number [...]
SEOUL, June 4 (Korea Bizwire) – Most of the major Korean IT companies use little renewable energy while consuming significant amounts of power, says Greenpeace. According to a report released by the international environmental advocacy group in June, the seven major IT companies in Korea including Naver, SK C&C, KT, LG CNS, LG Uplus, Samsung [...]
SEOUL, June 3 (Korea Bizwire) — South Korea’s consumption of refined oil products rose solidly this year on low crude prices, industry data showed Wednesday, providing some relief to local refiners struggling to cope with slumping exports. Domestic consumption of refined petroleum products reached 283.7 million barrels in the January-April period, up 4.7 percent from [...]
SEOUL, May 27 (Korea Bizwire) — LG Chem, South Korea’s leading chemicals and battery maker, will team up with U.S. energy giant Duke Energy to build a battery-based energy storage system at a retired coal power plant in Ohio, the companies said Wednesday. LG Chem said it will provide the operating system and batteries for the [...]
SEOUL, May 21 (Korea Bizwire) — Hyundai Motor, South Korea’s top automaker, plans to unveil the Sonata plug-in hybrid electric vehicle (PHEV) in the third quarter of this year as part of efforts to get out in front in the nascent eco-friendly car market, a company official said Thursday. Plug-in cars make use of both an [...]
SEOUL, May 20 (Korea Bizwire) — A venture company developing carbon fiber materials has produced the country’s first commercial vehicles covered with eco-friendly carbon fiber plates, providing better mileage and faster 0-100kmph acceleration than steel plates. ENKorea announced that it produced three carbon fiber “C-cars,” which will be used as rental cars to promote the [...]
SEOUL, May 20 (Korea Bizwire) — The City of Seoul registered a virtual power plant to sell 5MW of electricity saved by its 18 affiliated institutions (including its water recycling centers); the first time a local government body has done so. Seoul announced on May 18 that it registered a virtual power plant from 5MW of electricity [...]
SEOUL, May 14 (Korea Bizwire) — Large furniture manufactures in Korea are competitively expanding their usage of eco-friendly materials to meet consumer demand for increased safety and well-being. According to an industry source, large furniture makers like Hanssem and Hyundai Livart are increasing their use of E0 class eco-friendly materials competitively. Medium density fiberboard (MDF) [...]
SEOUL, May 13 (Korea Bizwire) – South Korean energy firm GS Energy Corp. said Wednesday it has won a 3 percent stake in an oil concession in the United Arab Emirates, joining major players from Japan and France to pump oil from the largest oil field in the Middle East country over the next four decades. [...]
SEOUL, May 13 (Korea Bizwire) — A major business lobby in South Korea called on the government Wednesday to lower its reduction target for greenhouse gas emissions, saying that it is “impossible” to achieve. The government earlier proposed cutting greenhouse gas emission by 30 percent from business-as-usual (BAU) levels by 2020. It plans to submit its [...]