SEOUL, Sept. 26 (Korea Bizwire) — SK Ecoplant Co., a South Korean builder, said Tuesday it joined hands with a U.S. waste recycling company to form a joint venture and build a battery recycling pretreatment plant in the U.S. state of Kentucky. The factory will be established in Hopkinsville, in partnership with Ascend Elements and [...]
SEOUL, Sept. 24 (Korea Bizwire) – South Korean companies have asked the United States to clarify from which foreign companies they are not required to import critical electric vehicle (EV) battery minerals under the U.S. Inflation Reduction Act (IRA), industry sources said Sunday. Senior executives of South Korean battery and material companies made the request [...]
SEOUL, Sept. 24 (Korea Bizwire) –LG Chem Ltd., South Korea’s leading chemical company, said Sunday it has partnered with China’s Huayou Group to build four electric vehicle (EV) battery material plants in Morocco and Indonesia amid an acceleration in electrification. On Friday, LG Chem signed four separate initial pacts with Huayou Group to build [...]
POHANG, Sept. 23 (Korea Bizwire) –The city of Pohang in North Gyeongsang Province is fast-tracking the development of hydrogen refueling stations, which are pivotal to the deployment of hydrogen-powered vehicles. At present, Pohang boasts 36 registered hydrogen passenger cars, but due to the absence of charging stations, these vehicles must be charged in other areas [...]
SEOUL, Sept. 21 (Korea Bizwire) —SK Chemicals is contemplating the potential sale of its pharmaceutical business to Glenwood Private Equity (PE), a private equity fund manager. In response to a disclosure request from the Korea Exchange regarding Glenwood PE’s proposed acquisition of SK Chemicals’ pharmaceutical business unit, SK Chemicals stated, “We are in the process [...]
SEOUL, Sept. 21 (Korea Bizwire) — The European Chamber of Commerce in Korea (ECCK) on Thursday called for South Korea to consider allowing greater flexibility in adopting regulations for electric vehicle (EV) batteries, plastic recycling and other major industries, to help further promote the trade between Seoul and the economic bloc. The ECCK made the [...]
WASHINGTON, Sept. 19 (Korea Bizwire) – A U.S. energy firm said Tuesday it will appeal a district court’s decision earlier this week to dismiss its lawsuit filed to stop two South Korean state-run companies from exporting nuclear power plants. On Monday, the District Court for the District of Columbia rejected the complaint that Westinghouse Electric [...]
SEOUL, Sept. 19 (Korea Bizwire) – Lotte Chemical has introduced a new eco-friendly material brand called ECOSEED. They unveiled it during a “Green Recycling Day” event on Monday at Lotte World Tower in Jamsil as part of their 2030 vision for recycling. Under the ECOSEED brand, the company combines recycled materials (PCR) and biodegradable plastics [...]
WASHINGTON, Sept. 18 (Korea Bizwire) — A U.S. district court on Monday dismissed a lawsuit that an American energy firm filed to stop two South Korean state-run companies from exporting nuclear power plants, determining it is not qualified to take the legal move. The District Court for the District of Columbia rejected the complaint that [...]
SEOUL, Sept. 18 (Korea Bizwire) – The SK Geocentric Ulsan ARC (Advanced Recycling Cluster), which is expected to be built near the Ulsan Complex (CLX) petrochemical complex, is gaining attention as Ulsan’s ‘urban oil field.’ The Ulsan ARC is the world’s first plastic waste recycling complex, conceived by SK Innovation subsidiary SK Geocentric with an investment [...]