SEOUL, Jun. 18 (Korea Bizwire) — Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Tuesday it recently has obtained 130 billion won (US$94 million) worth of power grid orders in the United States. With the latest orders, Taihan Cable has received more than 330 billion won worth of power grid contracts in [...]
SEOUL, Jun. 18 (Korea Bizwire) — Chang Jae-hoon, president and CEO of Hyundai Motor Co., has been named co-chair of the Hydrogen Council, a global corporate initiative with a united vision for hydrogen adoption for a clean energy transition, according to the company Tuesday. Chang will join Sanjiv Lamba, CEO of Linde plc, to lead [...]
SEOUL, June 17 (Korea Bizwire) – The government will extend the tax cut on fuel for automobiles by an additional two months but lower the cap for the reduction in consideration of global oil prices, inflation and the dwindling tax revenue, the finance ministry said Monday. South Korea has applied a 25 percent discount on [...]
SEOUL, Jun. 17 (Korea Bizwire) – As electric vehicles (EVs) with extended driving ranges enter the mainstream South Korean market, consumers’ interest in battery technology—a crucial factor determining an EV’s range—is expected to intensify. Some industry observers predict that the proliferation of affordable EVs could ignite fierce competition in battery development. According to auto industry analysts, [...]
SEOUL, Jun. 14 (Korea Bizwire) – An analysis by the American consulting firm Act-Geo of seismic data from a deep-water energy exploration project in the East Sea has sparked controversy, with questions emerging about the verification process and accuracy of claims made by the firm’s adviser. Vitor Abreu, an adviser to Act-Geo, which was hired to [...]
SEOUL, Jun. 14 (Korea Bizwire) — South Korea is ready to work with foreign partners to develop potential oil and gas reserves in the East Sea, the chief of the state-run Korea National Oil Corp. (KNOC) said Friday. Earlier this month, the government announced that it has found potential oil reserves in the East Sea, [...]
SEOUL, Jun. 14 (Korea Bizwire) — Exports of hydrogen-powered fuel cell electric vehicles (FCEVs) plunged more than 70 percent on-year during the first five months of 2024, industry data showed Friday. According to data from the Korea Automobile Manufacturers Association, the number of hydrogen-powered FCEVs shipped overseas during the January-May period reached 60 units, down [...]
SEOUL, Jun. 12 (Korea Bizwire) — SK Inc., the holding company of South Korea’s chip-to-battery conglomerate SK Group, said Wednesday it has partnered with China’s Geely Holding Group for cooperation in batteries and future mobility solutions. Under the strategic agreement signed Tuesday, the two companies will explore business opportunities in the eco-friendly mobility sector, including [...]
SEOUL, Jun. 11 (Korea Bizwire) — The chief policymaker of the main opposition Democratic Party said Tuesday no extra budget should be allowed for a project for potential offshore oil and gas reserves in the East Sea unless relevant data is submitted. The remark came amid growing controversies surrounding Act-Geo, the U.S. geoscience firm that [...]
SEOUL, Jun. 11 (Korea Bizwire) — The state-run Korea Hydro & Nuclear Power Co. (KHNP) said Tuesday it has begun the construction of a tritium removal facility for a nuclear power plant in Romania. KHNP won the 260 billion-won (US$188 million) project last year at the Cernavoda Nuclear Power Plant, some 170 kilometers east of [...]