SEOUL, Oct. 1 (Korea Bizwire) – In a significant breakthrough for electric vehicle safety, LG Chem, one of South Korea’s leading chemical companies, has announced the development of a new material that could potentially prevent battery fires by cutting off electrical flow when temperatures rise abnormally. The innovation, described as a “thermal runaway inhibiting [...]
SEOUL, Sept. 26 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automotive companies, said Thursday they have launched a joint project to develop cathode material technology for producing LFP (lithium iron phosphate) batteries for electric vehicles. The joint project, also involving Hyundai Steel Co. and Ecopro BM Co., aims to develop [...]
SEOUL, Sept. 25 (Korea Bizwire) – In a significant move to address electronic waste, South Korea’s Ministry of Environment announced on September 24 that it would broaden the scope of its recycling program to encompass a wider range of electronic devices, including Bluetooth earphones, clothes dryers, and electric scooters. The change, set to take effect in [...]
SEOUL, Sept. 25 (Korea Bizwire) — Preparations have been under way for the first exploratory drilling in December for potential oil and gas reserves off the nation’s East Sea, officials said Wednesday. Industry Minister Ahn Duk-geun hosted a meeting with related agencies in Seoul to review the progress of preparations for a project in the [...]
SEOUL, Sept. 23 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) said Monday it plans to freeze electricity rates for the fourth quarter. KEPCO said it will keep the adjusted unit fuel cost — a key part of the country’s electricity rates — unchanged at 5 won (US$0.003) per kilowatt-hour for the October-December [...]
SEOUL, Sept. 19 (Korea Bizwire) — The peak electricity demand jumped 30 percent on-year during the Chuseok holiday, data showed Thursday, in the latest evidence that autumn heat has gripped the nation. The country’s average maximum power demand reached 70.3 gigawatts from Monday to Wednesday, compared with 54.4 gigawatts recorded during the previous year’s Chuseok, [...]
SEOUL, Sept. 19 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-biggest refiner by sales, said Thursday it has exported sustainable aviation fuel (SAF) to a Japanese trading company. Last week, GS Caltex supplied 5,000 kiloliters of SAF to Itochu Corp., which has delivered the environment-friendly fuel to Narita International Airport, the company said in [...]
SEOUL, Sept. 19 (Korea Bizwire) – Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Thursday it has received a 90 billion-won (US$68 million) high-voltage cable order in the United States. Taihan Cable has obtained the deal from LS Power Grid California to supply 320 kilovolt and 500kV high-voltage direct current transmission systems [...]
SEOUL, Sept. 18 (Korea Bizwire) – As the global electric vehicle (EV) market navigates through a temporary dip in demand, South Korean automakers and financial institutions are introducing innovative products to spark consumer interest. These offerings, centered around guaranteeing the residual value of EV batteries, are reshaping the future of EV ownership. At the heart of [...]
SEOUL, Sept.16 (Korea Bizwire) – As Hyundai Motor Company recently announced plans to mass-produce extended-range electric vehicles (EREVs), the battery industry is closely watching the potential impact of this emerging technology. While the market viability of EREVs remains to be fully proven, there’s growing optimism that the expansion of this sector could provide a much-needed boost [...]