SEOUL, Feb. 4 (Korea Bizwire) – South Korea’s exports of battery products fell 1.6 percent in 2023 from a year earlier after posting growth for the previous seven years amid a slowdown in electric vehicle sales, the trade ministry said Sunday. The country’s rechargeable battery shipments fell to US$9.83 billion, marking the first on-year decline [...]
SEOUL, Jan. 31 (Korea Bizwire) – Doosan Bobcat Launches Korea’s First Commercial Hydrogen-Powered Forklift Doosan Bobcat has announced the commercialization of Korea’s first hydrogen-powered forklift, marking a significant milestone in the industry. On January 30, the company held a shipment ceremony for its first hydrogen forklift at its forklift factory in Incheon, highlighting the achievement. [...]
SEOUL, Jan. 30 (Korea Bizwire) — The South Korean government has disapproved an offshore wind project pushed by a sub-subsidiary of global investment firm BlackRock Inc., citing a lack of data to prove its financial ability and power system issues in the region, officials said Tuesday. Kredo Holdings Ltd. is working to build five wind [...]
SEOUL, Jan. 30 (Korea Bizwire) – S-OIL announced on January 29 that it has begun incorporating waste cooking oil, bio-based materials, and pyrolysis oil from plastic waste into its refining processes. This marks the first time a domestic refiner in South Korea has integrated bio-based materials into its refining operations, aiming to produce low-carbon and eco-friendly [...]
SEOUL, Jan. 25 (Korea Bizwire) — LG Energy Solution (LGES), South Korea’s leading manufacturer of lithium-ion batteries, said Thursday it will make an equity investment in U.S. startup Sion Power for next-generation battery development. The investment is for technology partnership in developing lithium metal batteries, which use a lithium metal anode instead of a graphite [...]
SEOUL, Jan. 24 (Korea Bizwire) — The Korea Electric Power Corporation (KEPCO), grappling with a debt of 200 trillion won, is causing internal strife after asking employees to sign a ‘salary return agreement’ to fund voluntary retirement severance. This move has sparked significant discontent among employees, with some questioning why employee money is being used to [...]
SEOUL, Jan. 17 (Korea Bizwire) — SK On, the battery unit of chip-to-construction conglomerate SK Group, said Wednesday it has partnered with U.S. battery startup Solid Power to jointly develop solid-state batteries. SK On signed an agreement with Solid Power for solid-state battery technology transfers from the U.S. company during this year’s Consumer Electronics Show [...]
LAS VEGAS, Jan. 15 (Korea Bizwire) — In Las Vegas, Nevada, a 3,700-square-meter facility of Singapore-based IT lifecycle solution company TES houses stacks of used electronic devices, including data center servers, hard disk drives, laptops and smartphones. About a 30-minute drive from the city’s luxurious strip of hotels, casinos and restaurants, this facility plays a [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea is taking a significant step towards environmental sustainability by initiating a project to recycle leftover fabric scraps into sound-absorbing materials. The Ministry of Environment, along with the district offices of Jongno, Seongdong, and Dongdaemun in Seoul, and the Korea Textile Recycling Association, announced that a signing of a memorandum [...]
SEOUL, Jan. 13 (Korea Bizwire) – LG Electronics Inc. said Saturday that it has opened its first plant in the U.S. for electric vehicle (EV) charging stations, as part of its strategy to advance into the fast-growing EV charging solutions business. The factory based in Fort Worth, Texas, has an annual capacity of over 10,000 [...]