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 [...]
SEOUL, March 31 (Korea Bizwire) — The government of South Korea faces mounting pressure from the United States to commit to purchasing liquefied natural gas (LNG) from Alaska, a move that could carry significant economic and geopolitical consequences for Seoul. But despite a visit by Alaska Governor Mike Dunleavy last week and growing American expectations, South [...]
SEOUL, March 31 (Korea Bizwire) — Samsung SDI Co., South Korea’s second-biggest battery maker, said Monday it has begun supplying next-generation 46-series cylindrical batteries to a U.S. company. Samsung SDI produces 4695 batteries, measuring 46 millimeters in diameter and 95mm in height, at its domestic plant and assembles them into modules at its Vietnamese plant [...]
SEOUL, March 27 (Korea Bizwire) — South Korea’s possible participation in the Alaska liquefied natural gas (LNG) project will likely be viewed “favorably” in tariff negotiations with the Donald Trump administration, Alaska’s governor has said. Alaska Gov. Mike Dunleavy made the remarks in a roundtable interview with Yonhap News Agency and other news outlets on [...]
SEOUL, March 27 (Korea Bizwire) — Lotte Energy Materials Corp. said Thursday it will seek the Copper Mark, a global certification for the copper industry’s responsible production practices, for its Malaysian plant. The Copper Mark is a comprehensive social and environmental assurance system for copper production managed by the International Copper Association. Lotte Energy Materials [...]
SEOUL, March 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday it has signed a five-year deal with a Taiwanese company to supply batteries for residential energy storage systems (ESSs) in the United States. LGES will provide Delta Electronics, Inc. with lithium iron phosphate (LFP) batteries for the [...]
SEOUL, March 26 (Korea Bizwire) — South Korea unveiled an ambitious plan on Tuesday to boost the recycling rate of key strategic minerals to 20% by 2030, as part of its broader effort to secure critical supply chains and position itself in the rapidly expanding global market for resource recovery. During the fourth meeting of the [...]
SEJONG, South Korea, March 26 (Korea Bizwire) — The South Korean government announced on Tuesday plans to expand its strategic stockpile of automotive-grade urea and diversify import sources to prevent future supply disruptions. The move comes as part of broader efforts to strengthen the nation’s industrial supply chains under growing geopolitical and trade uncertainties in 2025. [...]