SEOUL, Nov. 28 (Korea Bizwire) — Hyundai Motor Group will roll out South Korea’s first vehicle-to-grid (V2G) pilot service next month on Jeju Island, enabling electric vehicles to function as energy resources by sending stored electricity back to the grid, the company announced Friday. The pilot project stems from a partnership Hyundai signed in September with [...]
DAEJEON, Nov. 27 (Korea Bizwire) — South Korean scientists have developed a new method for producing fuel cell catalysts that dramatically cuts manufacturing time and improves durability, the Korea Institute of Energy Research (KIER) said Thursday. The technique replaces conventional copper-based coating methods with a carbon monoxide–assisted process that allows researchers to form precise metal thin [...]
SEOUL, Nov. 26 (Korea Bizwire) — Lotte Chemical Corp. and HD Hyundai Chemical said Wednesday they have finalized a restructuring plan to reduce the capacity of naphtha cracking centers (NCCs) in an industrial complex in the central region as part of nationwide efforts to reform the petrochemical industry. The companies said in regulatory filings that [...]
SEOUL, Nov. 24 (Korea Bizwire) — SK earthon Co., a South Korean oil exploration and production (E&P) company, said Monday it has acquired a stake in a potential oil block in Indonesia as part of its efforts to expand overseas E&P activities. SK earthon said it has taken over a 34 percent stake in the [...]
SEOUL, Nov. 20 (Korea Bizwire) – The government on Thursday designated the southern industrial city of Gwangyang as a special crisis-response zone, as its steel-dependent economy faces mounting strain from global oversupply and intensifying trade protectionism, the industry ministry said. Gwangyang, about 350 kilometers south of Seoul, was chosen because the steel sector accounts for [...]
SEOUL, Nov. 20 (Korea Bizwire) – SK On, the wholly owned battery subsidiary of South Korea’s leading refiner SK Innovation Co., said Thursday it will swap stakes in its joint ventures with a Chinese partner as part of a “portfolio rebalancing” strategy. SK On and EVE Power Hongkong Co. established two electric vehicle battery joint [...]
SEOUL, Nov. 20 (Korea Bizwire) — POSCO International is deepening its push into the global biofuel market with a sweeping expansion of its palm oil business, announcing a major acquisition in Indonesia alongside the completion of a new refinery jointly built with GS Caltex. The company said on Nov. 20 that it has acquired a controlling [...]
SEOUL, Nov. 20 (Korea Bizwire) – GS Caltex Corp., South Korea’s second-largest refiner by sales, said Thursday it has completed construction of a major palm oil refining facility in Indonesia, as the company expands its presence in the Asian biofuel market. An opening ceremony for the facility, named AGPA Refinery Complex (ARC), located in an [...]
SEOUL, Nov. 18 (Korea Bizwire) — Hyundai Motor Group will supply hydrogen fuel-cell buses to Guangzhou as part of a joint initiative with China’s commercial vehicle maker Kaiwo Group, the company said Tuesday, marking a significant expansion of its hydrogen mobility footprint in the world’s largest auto market. The 8.5-meter hydrogen buses—co-developed by Hyundai’s local fuel-cell [...]
SEOUL, Nov. 17 (Korea Bizwire) — Natural gas prices have surged to their highest level in nearly three years, lifting related exchange-traded notes (ETNs) while exposing South Korean retail investors to mounting losses after many bet on the market moving in the opposite direction. Between Nov. 1 and 14, nine of the ten best-performing ETNs in [...]