SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s industry ministry said Wednesday the country plans to implement eased regulations for hydrogen charging stations next year in line with efforts to support the sector’s ecosystem. The set of new rules is reflected in the revised high-pressure gas safety control act, which will be implemented in May, [...]
SEOUL, Dec. 18 (Korea Bizwire) – Over the past three years, South Korea’s leading conglomerates have directed the bulk of their equity investments toward the electric vehicle (EV) battery sector, signaling a strategic focus on securing new growth engines. According to a report by corporate research firm Leaders Index on December 17, South Korea’s top [...]
SEJONG, Dec. 17 (Korea Bizwire) — A drillship participating in a major gas and oil development project in the East Sea arrived at its first drilling site Tuesday, as it prepares to begin exploration operations amid growing uncertainties in the project due to domestic political situations, according to industry sources. The West Capella, operated by [...]
SEOUL, Dec. 16 (Korea Bizwire) – The U.S. Department of Energy (DOE) has finalized a 14 trillion won low-interest loan for BlueOval SK, a joint venture between South Korea’s SK On and Ford Motor Company, to bolster domestic electric vehicle (EV) battery production. The approval marks the largest EV-related loan under the Biden administration’s Advanced Technology [...]
SEOUL, Dec. 16 (Korea Bizwire) – President Yoon Suk Yeol’s ambitious industrial agenda, including a focus on nuclear energy, offshore gas development, and semiconductor industry support, faces potential setbacks following his impeachment by the National Assembly on December 14. Industry experts warn that any weakening of government semiconductor support could cause South Korea to miss a crucial [...]
SEOUL, Dec. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Thursday it has entered Canada’s dermal filler market as part of its business diversification strategy. LG Chem has launched its hyaluronic acid fillers under the YVOIRE brand in the Canadian market to meet a growing demand for Korean medical aesthetic [...]
HONGSEONG, Dec. 12 (Korea Bizwire) – In a significant environmental initiative, waste vinyl that is typically incinerated will soon be transformed into high-quality resources, including aviation fuel. The South Chungcheong Province government signed a memorandum of understanding on December 11 at the provincial office with HD Hyundai Oilbank, Hanwha TotalEnergies, and four cities – Cheonan, Asan, [...]
SEOUL, Dec. 11 (Korea Bizwire) – McDonald’s Korea announced on Tuesday its commitment to converting all packaging materials used in its restaurants to recyclable or renewable materials by next year. This move positions the company as a leader in sustainability within the country’s quick-service restaurant (QSR) industry. As part of this initiative, McDonald’s Korea will introduce [...]
SEOUL, Dec. 11 (Korea Bizwire) – South Korea’s electric vehicle expansion has driven a sharp increase in demand for talent in the secondary battery sector, with job openings more than doubling over the past seven years, according to a government report. The Ministry of Science and ICT revealed that job postings for secondary battery-related roles rose [...]
SEOUL, Dec. 10 (Korea Bizwire) – Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Tuesday it has received a 110 billion-won (US$76.8 million) high-voltage cable order from Sweden. Under the deal with Sweden’s state-run electricity transmission system operator, Svenska kraftnat, Taihan Cable will supply 420 kilovolt cables and other equipment to Sweden’s [...]