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Archive by category Energy & Green

Daewoo Engineering Teams Up With Petroleum Trading Lao Public Company

Daewoo Engineering Teams Up With Petroleum Trading Lao Public Company

SEOUL, June 16 (Korea Bizwire) – Daewoo Engineering & Construction Co. inked an initial agreement with a Laotian partner to win infrastructure projects in the Southeast Asian country, the builder said Friday. On Thursday in Vientiane, Daewoo Engineering signed a memorandum of understanding (MOU) with Petroleum Trading Lao Public Co. (PTL) to build hydroelectric power [...]

Electric Vehicle Market on the Rise in South Korea

Electric Vehicle Market on the Rise in South Korea

SEOUL, Jun. 15 (Korea Bizwire) — Sales of electric cars in South Korea have grown sevenfold in the past year, as growing public interest is seeing more consumers trade in their gas-guzzlers to instead opt for more eco-friendly and energy-saving alternatives. According to data from the Ministry of Land, Infrastructure and Transport and the Korea Automobile [...]

Shutdown of Coal-Fired Plants Causes No Power Shortage

Shutdown of Coal-Fired Plants Causes No Power Shortage

SEOUL, June 12 (Korea Bizwire) – South Korea’s power supply hovered above its demand for the past seven days after a temporary shutdown of eight old coal-fired power plants, government data showed Sunday, shaking off concerns over a possible shortage. Starting June 1, the aged thermal power plants, including four in central Chungcheong Province, went offline for a month in line with the government’s efforts [...]

LG Chem Gets US$12.6 Million from Bill Gates Foundation for Polio Vaccine

LG Chem Gets US$12.6 Million from Bill Gates Foundation for Polio Vaccine

SEOUL, June 8 (Korea Bizwire) – LG Chem Ltd., South Korea’s top chemical firm, said Wednesday that it has received a US$12.6 million grant from the Bill & Melinda Gates Foundation to develop a new polio vaccine. The grant will be used to expand LG Chem’s facility in South Korea and conduct medical trials of its new polio vaccine in overseas countries, LG Chem said in a statement. Since 2014, LG Chem has been developing an inactivated vaccine forpolio, with a second-phase [...]

Scientists Develop New Method to Produce TPA

Scientists Develop New Method to Produce TPA

SEOUL, Jun. 5 (Korea Bizwire) — A group of South Korean scientists have developed a new eco-friendly method to chemically produce terephthalic acid (TPA), which is largely used for polyethylene terephthalate, the science ministry said Sunday, a development that could be a boon in the mass production of next-generation industrial plastic. TPA is a large-volume [...]

Supply of Electricity Unaffected by Shutdown of Aging Coal Plants

Supply of Electricity Unaffected by Shutdown of Aging Coal Plants

SEOUL, June 2 (Korea Bizwire) – The supply of electricity in South Korea experienced little to no disruption when the newly introduced temporary shutdown of eight aging coal-fueled power plants took effect for the first time yesterday. According to the Korea Power Exchange (KPX), the daily maximum electricity demand was estimated at 68.85 million kW [...]

S. Korean Firms Celebrate Power Plant Completion in Chile

S. Korean Firms Celebrate Power Plant Completion in Chile

SEOUL, May 29 (Korea Bizwire) — A South Korean consortium has held a ceremony to mark the completion of a gas-fired combined cycle plant in Antofagasta, Chile, that will supply electricity to BHP Billiton Ltd.’s copper mine. Samsung Engineering Co., a construction unit of Samsung Group, celebrated the opening of the 517 megawatt plant Friday [...]

KEPCO, GE Join Hands for Next-Generation Electric Energy Biz

KEPCO, GE Join Hands for Next-Generation Electric Energy Biz

SEOUL, May 26 (Korea Bizwire) – State-run Korea Electric Power Corp. (KEPCO) said Thursday it has joined forces with General Electric for co-investment in the development of next-generation electric power facilities.  The South Korean utility firm and the U.S. aviation and energy conglomerate held an opening ceremony of its joint office in Naju, some 399 [...]