SEOUL, Nov. 20 (Korea Bizwire) – The government on Thursday designated the southern industrial city of Gwangyang as a special crisis-response zone, as its steel-dependent economy faces mounting strain from global oversupply and intensifying trade protectionism, the industry ministry said. Gwangyang, about 350 kilometers south of Seoul, was chosen because the steel sector accounts for [...]
SEOUL, Nov. 20 (Korea Bizwire) – SK On, the wholly owned battery subsidiary of South Korea’s leading refiner SK Innovation Co., said Thursday it will swap stakes in its joint ventures with a Chinese partner as part of a “portfolio rebalancing” strategy. SK On and EVE Power Hongkong Co. established two electric vehicle battery joint [...]
SEOUL, Nov. 20 (Korea Bizwire) — POSCO International is deepening its push into the global biofuel market with a sweeping expansion of its palm oil business, announcing a major acquisition in Indonesia alongside the completion of a new refinery jointly built with GS Caltex. The company said on Nov. 20 that it has acquired a controlling [...]
SEOUL, Nov. 20 (Korea Bizwire) – GS Caltex Corp., South Korea’s second-largest refiner by sales, said Thursday it has completed construction of a major palm oil refining facility in Indonesia, as the company expands its presence in the Asian biofuel market. An opening ceremony for the facility, named AGPA Refinery Complex (ARC), located in an [...]
SEOUL, Nov. 18 (Korea Bizwire) — Hyundai Motor Group will supply hydrogen fuel-cell buses to Guangzhou as part of a joint initiative with China’s commercial vehicle maker Kaiwo Group, the company said Tuesday, marking a significant expansion of its hydrogen mobility footprint in the world’s largest auto market. The 8.5-meter hydrogen buses—co-developed by Hyundai’s local fuel-cell [...]
SEOUL, Nov. 17 (Korea Bizwire) — Natural gas prices have surged to their highest level in nearly three years, lifting related exchange-traded notes (ETNs) while exposing South Korean retail investors to mounting losses after many bet on the market moving in the opposite direction. Between Nov. 1 and 14, nine of the ten best-performing ETNs in [...]
SEOUL, Nov. 16 (Korea Bizwire) – South Korea recovered enough energy from waste incineration this year to power the annual needs of roughly 110,000 people, according to new government data released Sunday. The National Institute of Environmental Research said it will publish a revised technical guide on Monday detailing updated methods for measuring the efficiency [...]
SEOUL, Nov. 12 (Korea Bizwire) – South Korean steelmaker POSCO Group said Wednesday it will invest 1.1 trillion won (US$750 million) to secure lithium resources in Australia and Argentina to bolster its rechargeable battery materials business. POSCO will acquire a 30 percent stake in a subholding company to be established by Australian miner Mineral Resources [...]
SEOUL, Nov. 11 (Korea Bizwire) — Seoul Metro said Monday it has begun pilot operations of mobile cooling tanks at major subway stations to better respond to the growing risk of battery-related fires. The portable tanks, equipped with wheels for easy movement within stations, are designed to help contain and extinguish fires caused by lithium-ion batteries. [...]
DAEJEON, Nov. 5 (Korea Bizwire) — South Korean scientists have developed a new organic solid electrolyte film that could accelerate the commercialization of lithium metal batteries, offering a major advance in safety and energy efficiency, researchers said Tuesday. A research team led by Professor Byun Hye-ryung at the Korea Advanced Institute of Science and Technology (KAIST), [...]