WASHINGTON, Jun. 27 (Korea Bizwire) — The United States on Thursday welcomed South Korea undertaking the one-year chair of a multinational partnership aimed at developing diverse and sustainable supply chains for critical energy minerals. South Korea is set to start leading the Minerals Security Partnership (MSP) on Monday, the State Department said. Launched in 2022, [...]
SEOUL, Jun. 26 (Korea Bizwire) –In a significant step towards a hydrogen-powered future, SK E&S announced on June 27 the completion of South Korea’s first liquid hydrogen refueling station in Gyeonggi Province. The facility, the Icheon Daeheung Liquid Hydrogen Refueling Station, was inaugurated in Daewol-myeon, Icheon. The station is operated by SK Plug Hyverse (Hyverse), [...]
SEOUL, Jun. 26 (Korea Bizwire) — SK On Co., the battery unit of chip-to-construction conglomerate SK Group, said Wednesday it has signed an initial pact with ExxonMobil Corp. for a stable supply of lithium for its EV battery manufacturing. SK On signed a memorandum of understanding (MOU) with ExxonMobil to secure U.S.-produced lithium on the [...]
SEOUL, Jun. 25 (Korea Bizwire) – A devastating fire at a primary battery manufacturing plant in Hwaseong, South Korea, has once again brought the safety risks of lithium batteries into sharp focus. The blaze, which broke out at 10:31 a.m. on June 24 at the Aricell factory in Hwaseong’s Seosin-myeon district, has claimed the lives [...]
SEOUL, Jun. 24 (Korea Bizwire) — LS Cable & System Ltd., South Korea’s biggest cable company, said Monday it will supply electrical distribution systems to a Canadian battery plant under construction. LS Cable will provide busduct, or busway, an electrical distribution system for the construction and refurbishment of buildings and industrial facilities, to the battery [...]
SEOUL, Jun. 24 (Korea Bizwire) — Hyundai Motor Group is strengthening its electric vehicle (EV) battery supply chain and internal production capacity, as the world’s third-largest auto group seeks to present price-competitive EV models with better driving ranges. Last week, SQM, a Chilean lithium mining company, announced that it reached a long-term agreement with Hyundai [...]
SEOUL, June 20 (Korea Bizwire) – SK Group, South Korea’s second-largest conglomerate, is accelerating efforts to optimize its business portfolio to address inefficiencies and financial strain caused by overinvestment in its core battery and energy sectors. As a first step, the group will hold a strategic management meeting with executives from key affiliates from June [...]
SEOUL, Jun. 20 (Korea Bizwire) — President Yoon Suk Yeol said Thursday that South Korea will create a small modular reactor (SMR) industrial complex in the southeastern city of Gyeongju and a hydrogen industrial cluster in its surrounding North Gyeongsang Province to foster the emerging energy sector and boost the local economy. Yoon announced the [...]
SEOUL, Jun. 20 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner, said Thursday various plans, including a merger, have been under consideration to bolster its competitiveness, but no decision has been made. A company spokesperson at SK Innovation made the remarks after the Chosun Ilbo newspaper reported, citing industry sources, that the company [...]
SEOUL, Jun. 20 (Korea Bizwire) – CJ CheilJedang, a leading food company in South Korea, has taken an active stance in upcycling, repurposing wheat bran, a byproduct of flour milling, as an ingredient in bread products. The company announced on June 19 that it is expanding synergies by investing in two food startups, Re:Harvest and SnE [...]