SEJONG, Mar. 11 (Korea Bizwire) — The South Korean government allocated fewer funds to purchase oil products, missing out on the opportunity to stock up on emergency energy reserves at the lowest costs in decades, records showed Wednesday. According to the Ministry of Trade, Industry and Energy, the government plans to purchase 219,000 barrels of [...]
SEOUL, Mar. 6 (Korea Bizwire) — LG Electronics has earned Certified Emission Reduction credits (CER) from its India operations, which correspond to about 7,000 tons of carbon dioxide (CO2) emissions, approved by the UNFCCC. This is the first recognition for a home appliances company by the UNFCCC under the Clean Development Mechanism (CDM) of the Kyoto Protocol. [...]
“The government should re-assess whether to extend the life of the nuclear reactor by considering its safety, public views towards it, and economic viability. If the overall assessment is negative, there’s no need to re-activate the reactor.” - Suh Kune-yull, nuclear engineering professor at Seoul National University “Wolsong-1 has not passed the stress test as [...]
SEOUL, March 1 (Korea Bizwire) – Samsung SDI, one of the leading providers of electronic materials in the world, is expected to provide battery packs for BMW‘s upcoming X5 plug-in hybrid SUV, industry sources said Sunday. Local industry insiders and IHS, a global market researcher, speculated that the recent purchase of Magna Steyr’s battery pack division [...]
SEOUL, Feb. 25 (Korea Bizwire) — Korean companies afforested a total of 43,182 ha in eight countries last year. According to the Korea Forest Service’s report on February 24, these companies have contributed to reforestation in Indonesia, Cambodia, Myanmar, Vietnam, the Solomon Islands, New Zealand, Paraguay and Uruguay. The 43,182 ha figure was an increase of 23 [...]
SEOUL, Feb. 14 (Korea Bizwire) – Jeju city, one of the Korean government’s model cities for electric cars, will establish 1,700 electric car charging stations this year via the foundation of a SPC of public and private enterprises, said the Ministry of Trade, Industry and Energy (MOTIE) on February 13 at the 13th National Energy Commission [...]
SEOUL, Feb. 16 (Korea Bizwire) — The Korea Petroleum Quality & Distribution Authority (K-Petro) has announced plans to conduct a free verification service to identify fake versus genuine gasoline. The Korean government has been conducting an all-out war on fake gasoline over the past several years, implementing various measures including fines and other penalties. K-Petro’s [...]
SEOUL, Feb. 15 (Korea Bizwire) – South Korea’s LG Chem Inc. said it will supply energy storage systems (ESS) for four solar plants under construction in Japan in a deal worth over 300 billion won (US$272.7 million). The nation’s largest battery maker said it won a contract to supply the storage systems with a daily [...]
Busan, Korea, Feb. 14 (Korea Bizwire) – Korea is to develop the largest maritime engineering aquarium in the world for deep-sea research purposes, such as simulation experiments for the construction of maritime plants. The Ministry of Oceans and Fisheries (MOF), the Ministry of Trade, Industry and Energy (MOTIE) and the city of Busan hosted a [...]
SEOUL, Feb. 13 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-largest carmaker, said Friday that its first all-electric Soul EV has been named the best eco-friendly vehicle by MotorWeek, a popular U.S. auto-analyzing TV program. MotorWeek, which airs on PBS stations nationwide in the U.S, analyzes trends, new products and new technology to produce [...]