SEOUL, Aug. 29 (Korea Bizwire) — LG Energy Solution said Thursday it has signed a memorandum of understanding with Kim Long Motors to supply cylindrical batteries for the Vietnamese automaker’s upcoming line of electric buses, marking a significant step into Southeast Asia’s fast-growing EV market. Kim Long Motors, a subsidiary of transport giant Phu Thai Group, [...]
SEOUL, Aug. 22 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp. have partnered with South Korea’s leading battery producers — LG Energy Solution Ltd., Samsung SDI Co. and SK On Co. — to advance electric vehicle (EV) safety technologies, the companies said Friday. At Hyundai and Kia’s Namyang research and development (R&D) center in [...]
SEOUL, Aug. 21 (Korea Bizwire) — Shares of Doosan Enerbility, South Korea’s leading nuclear power equipment maker, tumbled amid controversy over a contract signed between Korea’s state-run utilities and U.S. nuclear giant Westinghouse Electric Co. (WEC), leaving retail investors bearing the brunt of the losses. According to the Korea Exchange on Thursday, Doosan Enerbility’s stock [...]
SEOUL, Aug. 20 (Korea Bizwire) — Shares of South Korea’s nuclear power companies tumbled Wednesday after revelations that a settlement with U.S. nuclear giant Westinghouse has sharply curtailed their access to major global markets. By mid-morning trading, Korea Electric Power Corp. (KEPCO) was down more than 5 percent, while Doosan Enerbility dropped nearly 9 percent. [...]
SEOUL, Aug. 20 (Korea Bizwire) — SK On, the battery-making unit of South Korea’s SK Group, said Wednesday its 50:50 joint venture with Ford Motor Co. has begun commercial production of electric vehicle (EV) batteries at its first Kentucky plant. SK On and Ford established BlueOval SK in July 2022 with plans to invest 16 [...]
SEJONG, Aug. 20 (Korea Bizwire) — South Korea’s greenhouse gas emissions dropped below 700 million tons last year for the first time in nearly 15 years, driven by a shift from coal to nuclear and renewable energy. The Ministry of Environment’s Greenhouse Gas Inventory and Research Center reported Wednesday that national emissions reached 691.6 million [...]
SEOUL, Aug. 20 (Korea Bizwire) — South Korea’s embattled petrochemical industry has agreed to slash its core production capacity by as much as a quarter, in a government-backed effort to stave off collapse and reposition for higher-value growth. The Ministry of Trade, Industry and Energy said Wednesday that 10 companies operating naphtha cracking centers (NCCs) [...]
SEOUL, Aug. 19 (Korea Bizwire) — The chief of the state-run Korea Hydro & Nuclear Power Co. (KHNP) confirmed Tuesday the company has closed operations in Poland amid speculations that its agreement with U.S. energy firm Westinghouse over an intellectual property (IP) dispute influenced the decision. “After the new Polish administration took office … the [...]
SEOUL, Aug. 19 (Korea Bizwire) — A $26 billion nuclear power contract won by South Korean firms in the Czech Republic is drawing scrutiny after revelations that Korea Hydro & Nuclear Power (KHNP) and Korea Electric Power Corp. (KEPCO) signed a sweeping agreement with Westinghouse Electric that could bind Seoul’s industry to decades of costly obligations. [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s major petrochemical companies are grappling with a deepening industry downturn, as key players reported average plant utilization rates falling below break-even thresholds during the first half of 2025, according to corporate filings reviewed on August 17. The average operating rates at leading firms—including Lotte Chemical, LG Chem, [...]