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Petrochemical Firms Ready to Cope with Scrapped Sanctions Waivers on Iranian oil

Petrochemical Firms Ready to Cope with Scrapped Sanctions Waivers on Iranian oil

SEOUL, Apr. 23 (Korea Bizwire) — South Korea’s petrochemical firms and refiners said Tuesday that the United States’ decision to end its sanctions waivers on Iranian oil imports isn’t likely to cause crisis in the industry, although short-term repercussions on their balance sheets appear to be inevitable. The Donald Trump administration on Monday (local time) [...]

S. Korean Scientists Develop Efficient, Cheap Way to Make Hydrogen from Water

S. Korean Scientists Develop Efficient, Cheap Way to Make Hydrogen from Water

SEOUL, Apr. 23 (Korea Bizwire) — South Korean scientists on Tuesday said they have developed an efficient and affordable way to make hydrogen, opening new potential for the production of the clean energy resource. The researchers led by Hyeon Taeghwan, director of the Center for Nanoparticle Research at the Institute for Basic Science, and Seoul [...]

S. Korea to Cut Dependency on Fossil Fuel, Shift to Renewable Energy

S. Korea to Cut Dependency on Fossil Fuel, Shift to Renewable Energy

SEOUL, Apr. 19 (Korea Bizwire) — South Korea’s industry ministry said Friday it will significantly cut the country’s dependency on conventional energy sources, such as coal, and move toward environment-friendly resources for sustainable growth. During the public hearing for a draft of the country’s energy master plan, the Ministry of Trade, Industry, and Energy said [...]

Chemical Firms Suspected of Manipulating Fine Dust Emission Data

Chemical Firms Suspected of Manipulating Fine Dust Emission Data

SEOUL, Apr. 17 (Korea Bizwire) — Chemical companies are alleged to have colluded with air pollutant measurement firms to manipulate data on emissions of fine dust, the environment ministry said Wednesday. A total of 235 chemical factories located in the Yeosu industrial complex were found to have plotted with four measurement agencies in rigging data [...]

POSCO to Reorganize LNG Processing Operations to Enhance Efficiency

POSCO to Reorganize LNG Processing Operations to Enhance Efficiency

SEOUL, Apr. 15 (Korea Bizwire) — South Korea’s largest steelmaker POSCO said Monday that it will reorganize its liquefied natural gas (LNG) operations as part of its efforts to enhance its business efficiency. The company said in a regulatory filing that its board of directors last week approved the transfer of its LNG terminal in [...]

S. Korea to Run 8 Highway Hydrogen Charging Stations by June

S. Korea to Run 8 Highway Hydrogen Charging Stations by June

SEOUL, Apr. 12 (Korea Bizwire) — South Korea will operate eight highway charging stations for hydrogen fuel cell electric vehicles by June, Hyundai Motor said Friday. Hyundai and the Korea Expressway Corp. will each operate four stations, the carmaker said in a statement. On Friday, Hyundai began operating the hydrogen charging stations in Anseong and [...]

Gov’t Vows to Speed Up Development of Renewable Energy

Gov’t Vows to Speed Up Development of Renewable Energy

SEOUL, Apr. 4 (Korea Bizwire) — South Korea’s industry ministry said Thursday it will speed up the development of renewable energy and encourage more businesses to utilize power produced from sustainable sources such as sunlight and wind. The Ministry of Trade, Industry and Energy announced earlier it plans to have renewable energy account for 20 [...]

Solar Energy Facilities Causing Loss of Forest Land

Solar Energy Facilities Causing Loss of Forest Land

SEOUL, Apr. 4 (Korea Bizwire) — The solar energy project carried out over the past three years has damaged some 4,407 hectares (44.07 million square meters) of forest land, records from the Korea Forest Service showed Thursday. Approximately 2.32 million trees were felled during the three-year period to set up solar energy development facilities, according [...]