SEOUL, Dec. 4 (Korea Bizwire) – As concerns mount over a prolonged drop in electric vehicle demand and potential impacts of Donald Trump’s potential return to the White House, South Korea’s battery manufacturers are adapting their strategies amid growing industry turbulence marked by EV plant closures and bankruptcies worldwide. The country’s three major battery makers are [...]
SEOUL, Dec. 4 (Korea Bizwire) – South Korea’s consumer protection agency revealed on December 3 that many biodegradable plastic products are being marketed with misleading claims that don’t match their actual certifications, potentially confusing consumers about their environmental impact. The Korea Consumer Agency (KCA) examined online advertisements for 80 biodegradable plastic products currently available in the [...]
SEOUL, Dec. 3 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it is considering buying General Motors Co.’s stake in their joint venture battery plant in Michigan. “The company is considering acquiring the Ultium Cells JV 3 plant in Lansing, Michigan, to effectively operate its U.S. plants and [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Tuesday it has signed a deal with General Motors Co. to develop prismatic battery cells. Under the agreement, the companies will jointly develop prismatic battery cell technology and affiliated battery materials or “chemistries.” Once developed, the prismatic battery cells [...]
SEOUL, Dec. 2 (Korea Bizwire) — A fifth round of international negotiations for a binding plastic regulation agreement has ended without a deal, with delegates agreeing to resume talks at a later date. The Intergovernmental Negotiating Committee (INC) on Plastic Pollution met in the southeastern city of Busan from last Monday until Sunday to try [...]
SEOUL, Nov. 29 (Korea Bizwire) – A senior Czech official in charge of nuclear energy affairs has said that financial support from South Korea is “not on agenda” for his country’s nuclear plant construction projects, dismissing speculations that the Seoul government may have offered such assistance in a bid to win the country’s multibillion-dollar nuclear [...]
SEOUL, Nov. 28 (Korea Bizwire) — Samsung SDI Co., a battery and electronic materials manufacturing unit under Samsung Group, said Thursday it has appointed Choi Joo-sun, head of Samsung Display Co., as its new CEO as part of the group’s leadership reshuffle. Choi, 61, began his career as an engineer in a memory chip development [...]
SEOUL, Nov. 27 (Korea Bizwire) – Lotte Group, one of South Korea’s largest conglomerates, said Wednesday it will provide Lotte World Tower in Seoul as collateral for the corporate bonds of its financially-strapped chemical unit in an effort to address market concerns about a potential liquidity crisis. In a regulatory filing, the group said it [...]
SEOUL, Nov. 26 (Korea Bizwire) — Samsung C&T Corp. said Tuesday it has won a power plant construction project worth approximately 4 trillion won (US$2.85 billion) from Qatar’s state power company. Under a consortium with Japan’s Sumimoto Corp., Samsung C&T will build a power plant complex that will also include a desalination facility in the [...]
SEOUL, Nov. 24 (Korea Bizwire) – As former U.S. President Donald Trump positions for the return to the White House, South Korea is considering expanding its purchase of American energy as part of its strategy to manage trade pressures from the U.S. This move is also expected to strengthen South Korea’s negotiating power with its traditional [...]