SEOUL, Nov. 4 (Korea Bizwire) – The government will provide additional support to the steel industry for its much-needed transition to high-value and eco-friendly products, the industry ministry said Tuesday, the latest effort to save the ailing sector facing global oversupply and escalating trade protectionism. The road map aimed at boosting the competitiveness of the [...]
SEOUL, Oct. 30 (Korea Bizwire) – Hyundai Motor Co. said Thursday it broke ground on a new hydrogen fuel cell production facility in the southeastern city of Ulsan, marking a step forward in solidifying the automaker’s leadership in the future mobility sector. The company held a groundbreaking ceremony at its main car manufacturing complex in [...]
SEOUL, Oct. 29 (Korea Bizwire) – Hyundai Motor Co. plans to spotlight its hydrogen fuel-cell technology at the Japan Mobility Show this week as the South Korean automaker pushes to expand in a market long dominated by Toyota. The company said Wednesday it will introduce the latest Nexo hydrogen-powered SUV in Japan in the first half [...]
SEJONG, Oct. 26 (Korea Bizwire) — A major offshore gas development project in the East Sea has been thrown into uncertainty as the South Korean government moves to reassess plans that the state-run Korea National Oil Corporation (KNOC) had been pursuing with British oil giant BP. Industry officials said Sunday that the Ministry of Trade, Industry [...]
SEOUL, Oct. 26 (Korea Bizwire) — Hyundai Engineering & Construction Co. has secured the first U.S. large-scale nuclear power project contract awarded to a South Korean company, a move that could significantly expand its presence in the rapidly growing American nuclear market. The company said Sunday it recently signed a preliminary design agreement with Fermi America, [...]
SEOUL, Oct. 23 (Korea Bizwire) – Gov. Bill Lee of the U.S. state of Tennessee on Thursday met with the head of SK On Co. to discuss ways to enhance cooperation and strengthen ties, industry sources said. Lee visited SK On’s headquarters in central Seoul earlier in the day and had talks with Lee Seok-hee, [...]
MUAN, Oct. 22 (Korea Bizwire) — In a country racing to secure its place in the global artificial intelligence arms race, South Jeolla Province has quietly become a surprising frontrunner. Backed by abundant renewable energy and vast land resources, the region is drawing some of the world’s biggest technology investments—including the government’s next national AI computing [...]
South Korea’s Nuclear Export Deal with Westinghouse Sparked by U.S. Ruling on Reactor Technology Origins SEOUL, Oct. 20 (Korea Bizwire) — The South Korean government’s controversial settlement with U.S. firm Westinghouse over nuclear technology rights was driven by a 2024 decision from the U.S. Department of Energy (DOE) declaring that Korea’s APR1400 reactor design contains American-origin [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s battery sector has roared back to life this month, rebounding sharply from months of stagnation tied to electric vehicle (EV) demand concerns. The rally has sent related exchange-traded funds (ETFs) soaring, though analysts caution that the upswing may be short-lived. According to data from the Korea Exchange as [...]
SEOUL, Oct. 12 (Korea Bizwire) – LG Electronics Inc. said Sunday that it has unveiled its new advanced material at a major plastics trade show in Germany. LG PuroTec, an antimicrobial glass powder, was showcased at K 2025, a plastics and rubber trade show, which kicked off in the western German city of Dusseldorf last [...]