SEOUL, May 16 (Korea Bizwire) – South Korea’s top waste management company SK ecoplant Co. said Monday it had achieved a breakthrough in manufacturing recycled boxes by utilizing discarded paper resources from logistics centers. This achievement was made possible through a collaboration between SK ecoplant, logistics giant CJ Logistics Corp., and local packaging firm Tailim [...]
SEOUL, May 12 (Korea Bizwire) — The chief of South Korea’s state-run utility Korea Electric Power Corp. (KEPCO) offered to step down Friday, taking responsibility for snowballing losses, as the company announced a set of self-rescue measures meant to address financial woes caused mainly by limited hikes in electricity rates. KEPCO President and CEO Cheong [...]
SEOUL, May 11 (Korea Bizwire) — Lotte Chemical Corp. said Thursday it expects to generate at least 7 trillion won (US$5.26 billion) in annual revenue from its secondary battery components segment by 2030, as the recent acquisition of a local copper foil maker and other projects for a green transition will take hold. “We think [...]
SEOUL, May 11 (Korea Bizwire) — POSCO Future M Co., a major South Korean battery components maker, on Wednesday released a Responsible Minerals Report pledging to strengthen supply chain management to ensure the use of minerals that are free from concerns related to human rights infringement and environmental destruction. In these types of reports, companies [...]
SEOUL, May 10 (Korea Bizwire) — POSCO International Corp. said Wednesday it has signed a charter agreement with a South Korean shipping company for the transport of liquefied natural gas (LNG) as it pushes to boost energy business. Under the deal with H-Line Shipping Co., a 174,000-cubic-meter LNG vessel, to be built by Hyundai Samho [...]
SEOUL, May 9 (Korea Bizwire) — South Korean battery makers are increasing their presence in foreign markets, particularly in North America, by creating joint ventures (JVs) with automakers to reduce investment costs and comply with the U.S. Inflation Reduction Act (IRA). In a conference call last week, SK On Co. announced that it is “discussing [...]
SEOUL, May 8 (Korea Bizwire) — SK Innovation Co., the energy unit of South Korea’s SK Group, said Monday it has jointly invested with another SK affiliate in a South Korean developer of gas separation membranes to advance the technology for use in carbon capture. The investment in Airrane, a Cheongju-based company, commits SK Innovation [...]
SEOUL, May 4 (Korea Bizwire) — SK Innovation Co. reported Thursday a 77.3 percent on-year drop in the first-quarter operating profit due mainly to falling oil prices, while forecasting improvement in profitability for its loss-making battery unit after the second quarter upon U.S. tax benefits. Operating income came to 374.9 billion won (US$283.2 million) for [...]
SEOUL, May 4 (Korea Bizwire) — CJ Cheiljedang Corp., a major South Korean food manufacturer, said Thursday its biocompatible polyester material has received approval from the U.S. Food and Drug Administration (FDA) for use as food packaging material. CJ Cheiljedang said the FDA’s approval of amorphous polyhydroxyalkanoate (PHA) — a softer and more rubbery version [...]
SEOUL, May 3 (Korea Bizwire) — POSCO Future M Co., a leading secondary battery materials producer, said Wednesday it has teamed up with a Chinese cobalt producer to invest 1.7 trillion won (US$1.27 billion) to build production facilities for battery precursors and anode components. The precursor factory will be established under a joint venture with [...]