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 [...]
SEOUL, Nov. 22 (Korea Bizwire) — South Korea expects to achieve an economic effect worth 59 trillion won (US$42 billion) by beefing up the country’s “zero carbon energy ecosystem” by 2033, the industry ministry said Friday. The Ministry of Trade, Industry and Energy has announced the 5th Energy Technology Plan, which presented its energy technology [...]
SEOUL, Nov. 21 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Thursday it has signed an initial agreement with U.S. energy giant Exxon Mobil Corp. to get a supply of up to 100,000 tons of lithium carbonate, a key material for creating cathodes for batteries. Under the memorandum of understanding, Exxon [...]
SEOUL, Nov. 19 (Korea Bizwire) – Hyundai Mobis Co., South Korea’s leading auto parts maker, on Tuesday outlined its value-up program focusing on profitability and technological prowess amid a slowdown in electric vehicle (EV) sales. Hyundai Mobis aims to report an annual average of 5-6 percent in its operating profit margin in the three years through [...]
SEOUL, Nov. 18 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Monday it has signed an initial pact with U.S.-based Bear Robotics to become its sole supplier of cylindrical batteries. LGES signed a memorandum of understanding with the Silicon Valley-based artificial intelligence autonomous service robot company to supply its [...]