SEOUL, Oct. 9 (Korea Bizwire) –Orders for liquefied natural gas (LNG) carriers, an area where South Korea has long maintained a dominant position, have seen a significant decline this year. Nevertheless, the Korean shipbuilding industry is expected to weather this downturn relatively unscathed, thanks in part to record-high LNG carrier prices and a substantial upcoming [...]
SEOUL, Oct. 9 (Korea Bizwire) – South Korea has seen no major impact from the Israel-Palestine conflict on the country’s imports of crude oil and natural gas, the trade ministry said Monday. Officials from the Ministry of Trade, Industry and Energy, the state-run Korea National Oil Corp. and the Korea Gas Corp held an emergency [...]
POSCO is connecting with younger audiences by creating unique content, “Fantasteel – The Beginning of the New Iron Age,” in partnership with Nexon’s online game “Wars of Pracia”. SEOUL, Oct. 9 (Korea Bizwire) – Businesses in the so-called ‘junghujangdae’ industries, unfamiliar to the general public, are striving to craft a friendly image by creating compelling [...]
SEOUL, Oct. 8 (Korea Bizwire) – Hyundai Motor Co. said Sunday it showcased a new hydrogen-powered bus, jointly developed with Italian carmaker IVECO Group N.V., at a global bus exhibition. Hyundai Motor and IVECO debuted the E-WAY H2, a new hydrogen-powered fuel cell electric bus, at Busworld 2023 in Brussels, the world’s largest bus exhibition. [...]
SEOUL, Oct. 5 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading car battery maker, said Thursday it has signed a 10-year deal with Toyota Motor Corp. to supply EV batteries that will be produced in the United States. The two companies’ U.S. business units — LG Energy Solution Michigan, Inc. and Toyota [...]
SEOUL, Oct. 3 (Korea Bizwire) – Finance Minister Choo Kyung-ho said Tuesday the government will come up with a set of measures to boost the competitiveness of South Korea’s rechargeable battery industry and small and medium-sized enterprises (SMEs) later this year. Along with the plan, the government will expand its investment into the research and [...]
SEOUL, Oct. 3 (Korea Bizwire) – Gas stations are undergoing a transformation, evolving from spaces where vehicles are refueled with gas to multifunctional spaces with a variety of features. The profitability of gas stations has been on a downward trend due to the widespread adoption of electric vehicles (EVs), prompting gas station operators to seek ways [...]
SEOUL, Sept. 29 (Korea Bizwire) – Major South Korean refiners are expected to post a turnaround in their third quarter earnings, recovering from losses and dismal profits in the previous quarter, on the back of stronger margins amid rising oil prices, according to analysts Friday. SK Innovation Co., the energy unit under SK Group, is [...]
SEOUL, Sept. 28 (Korea Bizwire) – South Korea has been elected to the board of governors of the International Atomic Energy Agency (IAEA) to serve for the 2023-2025 period, Seoul’s foreign ministry said Thursday. South Korea has been named as the board member representing the Far East group during the 67th general conference held at [...]
SEOUL, Sept. 27 (Korea Bizwire) – Samsung SDI Co. will spend US$1.97 billion on its second battery manufacturing facility it is building in the United States jointly with Stellantis N.V., the South Korean battery maker said in a filing Wednesday. The disclosure came about two months after their U.S. venture, StarPlus Energy, announced a plan [...]