SEOUL, Apr. 4 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday it has begun the construction of its US$5.5 billion battery plant in Arizona, with an aim to start operations in 2026. LGES plans to produce 46-Series cylindrical batteries for electric vehicles (EVs) and lithium iron phosphate (LFP) [...]
SEOUL, Apr. 4 (Korea Bizwire) – In a groundbreaking move towards sustainable energy, Seoul and the city of Yeongcheon in North Gyeongsang Province are set to embark on innovative projects to produce hydrogen from biogas. These initiatives aim to transform organic waste, such as livestock manure, food waste, and sewage sludge, into a renewable energy source, [...]
SEOUL, Apr. 3 (Korea Bizwire) — Samsung E&A Co. and GS Engineering & Construction Corp. (GS E&C) have won a combined US$7.2 billion deal to expand a gas plant in Saudi Arabia, the biggest order for South Korean companies in the Middle Eastern country, the presidential office said Wednesday. The Fadhili Gas Increment Program is [...]
SEOUL, Apr. 2 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday its joint venture with General Motors Co. began production at their second battery plant in the United States. The first round of battery cells produced at the plant have been delivered to GM for installation in the [...]
SEJONG, Apr. 1 (Korea Bizwire) – As South Korea ramps up construction of large-scale offshore wind farms, the nation is poised to witness exponential growth in this renewable energy market, with investments projected to reach a staggering 100 trillion won by the end of this decade. Amid the global push for decarbonization, the South Korean government [...]
SEOUL, Mar. 29 (Korea Bizwire) — Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Friday it has obtained a US$82 million power grid replacement deal in the United States. With the latest order, Taihan Cable has already received $140 million worth of power grid contracts in the U.S. in the first three [...]
ANDONG, Mar. 26 (Korea Bizwire) – In a bid to create a sustainable and thriving future for Ulleungdo, a picturesque island off the east coast of South Korea, the North Gyeongsang provincial government and Ulleung County have launched an ambitious “Green Island Project” in partnership with universities, companies, and research institutes. On March 25, 11 entities [...]
SEOUL, Mar. 25 (Korea Bizwire) — L&F Co., a South Korean cathode material company, said Monday it has signed a 13.19 trillion-won (US$9.85 billion) deal to supply high-nickel cathodes to SK On Co., the battery unit of chip-to-construction conglomerate SK Group. L&F will supply 300,000 tons of high-nickel cathode materials for SK On’s car batteries [...]
SEOUL, Mar. 25 (Korea Bizwire) — South Korean rechargeable battery materials company EcoPro said Monday it has invested US$11 million in a stake of a nickel smelting factory in Indonesia to secure the key battery material. In the latest investment, EcoPro acquired a 9 percent stake in Green Eco Nickel operated by China’s battery material [...]
SEOUL, Mar. 21 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO), South Korea’s electricity monopoly, said Thursday it has decided to freeze electricity prices for the second quarter. In 2023, KEPCO raised the rates three times — by 13.1 won per kilowatt hour (kWh) in the first quarter, 8 won in the second [...]