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 [...]
SEJONG, Dec. 10 (Korea Bizwire) – South Korea’s industry ministry held a meeting Tuesday with the nation’s five power generation firms to explore ways to use the infrastructure of coal plants slated for shutdown in line with the country’s green energy policy. The meeting came amid growing concerns that the closure of coal plants could [...]
SEOUL, Dec. 9 (Korea Bizwire) — Three South Korean electric vehicle battery makers saw their combined global market share fall from a year earlier in the first 10 months of 2024 amid robust growth of Chinese rivals, industry data showed Monday. The trio — LG Energy Solution, SK On Co. and Samsung SDI Co. — [...]
SEOUL, Dec. 6 (Korea Bizwire) — Samsung C&T Corp. said Friday it has partnered with Swedish energy company Karnfull Next AB to pursue joint projects in the European small modular reactor (SMR) market. The South Korean engineering and construction company said it signed a memorandum of understanding for future joint projects with Karnfull Next at [...]
POHANG, South Korea, Dec. 5 (Korea Bizwire) — The industrial heart of Pohang, once buoyed by its thriving secondary battery and steel industries, is grappling with a severe economic downturn, underscoring the fragility of the region’s core sectors. The city, home to major players like EcoPro, POSCO Future M, and GS Energy Materials, has been [...]
SEOUL, Dec. 5 (Korea Bizwire) – South Korea’s Ministry of Environment announced plans to revise regulations governing saline wastewater discharge from secondary battery production, aiming to better assess its ecological impact on marine environments. The proposed amendments to the Water Environment Conservation Act and the Sewerage Act will be open for public comment starting December [...]
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 [...]