SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s biggest coal mine, Jangseong Coal Mine, formally closed Friday, 88 years after it opened, as coal output declined with the nation shifting toward greener energy sources. The anthracite coal mine in Taebaek, some 180 kilometers east of Seoul, began operations in 1936 during Japan’s colonial rule of [...]
SEOUL, Sept. 5 (Korea Bizwire) — Foreign Minister Cho Tae-yul has said South Korea’s nuclear power plant deal with the Czech Republic will be a “prime opportunity” for the two countries’ relations to advance to a new level, his office said Thursday. Cho made the remark during a meeting with Czech National Security Adviser Tomas [...]
SEOUL, Sept. 4 (Korea Bizwire) – Mercedes-Benz is facing scrutiny in South Korea as vehicle owners have filed complaints with the Korea Consumer Agency, alleging that the company provided incorrect information about the battery manufacturer in some of its electric vehicles. According to industry sources, the Korea Consumer Agency is currently reviewing the facts surrounding the [...]
SEJONG, Sept. 3 (Korea Bizwire) – POSCO International, a major South Korean trading firm, said Tuesday it has inked an agreement to purchase shares in an Australian mining firm for US$40 million to secure a supply of graphite from a Tanzanian mine. POSCO International signed the agreement with Black Rock Mining Ltd. which will bring [...]
SEOUL, Sept. 2 (Korea Bizwire) – In a move that blends environmental consciousness with consumer engagement, Kakao, the South Korean internet giant, announced on September 2 a collaborative effort with Nespresso to breathe new life into used coffee capsules. The initiative, dubbed the Coffee Capsule Upcycling Encore Project, is set to run through Kakao Makers, [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s average daily maximum power demand reached a new high in August as the country experienced scorching summer heat that persisted throughout the month, data showed Monday. The country’s peak power demand in August averaged 87.8 gigawatts, a 6.1 percent increase from a year earlier, according to the [...]
SEOUL, Aug. 31 (Korea Bizwire) – In a bold move to boost the circular economy for plastics, Korea Social Investment Foundation (KSI), a public interest corporation and impact investor, has announced a 400 million won interest-free loan program for startups specializing in innovative technologies and solutions for recycling transparent PET bottles. The initiative, revealed on August [...]
SEOUL, Aug. 30 (Korea Bizwire) – LG Chem has unveiled its new Customer Solution Center in Ravenna, Ohio, marking a significant expansion of its North American operations. The company announced on August 29 that the facility is now fully operational and ready to provide comprehensive technical support to its clients and partners in the region. The [...]
SUWON, South Korea, Aug. 29 (Korea Biziwre) — A court issued a warrant to arrest the chief executive of lithium battery maker Aricell in connection with June’s deadly fire that claimed 23 lives, marking the first such case since the law penalizing employers for serious industrial accidents came into force two years ago. The Suwon [...]
SEOUL, Aug. 26 (Korea Bizwire) – In the wake of a devastating electric vehicle (EV) fire in Incheon, South Korean automakers and consumers are turning their attention to early warning systems designed to detect battery abnormalities. These systems are being hailed as a practical fire prevention measure, capable of alerting drivers to potential issues before they [...]