SEOUL, April 20 (Korea Bizwire) — The South Korean government will earmark 28 billion won (US$21.09 million) over the next four years to support corporate development of fine chemicals for the semiconductor, display and secondary battery fields, the industry ministry said Thursday. The government will choose companies this year that will take part in the [...]
SEOUL, April 20 (Korea Bizwire) — Most of the electric vehicles that qualify for subsidies under the guidelines of the US Inflation Reduction Act (IRA) are equipped with Korean-made batteries, data showed Wednesday. Out of the 22 American vehicle models eligible for the subsidies, 17, excluding the five Tesla models, are equipped with batteries made [...]
INCHEON, April 19 (Korea Bizwire) —With the Korean government’s hydrogen bus supply support project on track, more citizens will soon have the opportunity to ride buses fueled by clean hydrogen energy on a regular basis. On Tuesday, the Ministry of Trade, Industry and Energy (MOTIE) held a ceremony at the Incheon Singheung Bus Garage site [...]
SEOUL, April 18 (Korea Bizwire) — LG Group Chairman Koo Kwang-mo stressed the importance of keeping a leading position in the production of a key secondary battery material, as the intensifying global race to develop electric vehicles (EV) has sharply driven demand, the group said Tuesday. “As cathodes are a key material in the secondary [...]
SEOUL, April 18 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Tuesday it is presenting its latest electric vehicle (EV) battery products and technologies at a major auto show in China this week, including the high-nickel prismatic cell and a new cylindrical battery in a larger size. The prismatic P6 battery is [...]
SEOUL, April 17 (Korea Bizwire) — LG Chem Ltd. said Monday it is joining hands with a Chinese mining company to build a battery precursor factory in South Korea, as it steps up to bolster the supply chains of secondary battery materials. LG Chem plans to sign a preliminary agreement Wednesday with Huayou Cobalt Co., [...]
SEJONG, April 17 (Korea Bizwire) —POSCO FutureM, a company developing secondary battery materials as a core business for the future, has provided its core workforce with shares worth 800 million won (US$609,000). The shares were given to key employees as restricted stock units (RSUs), and the employees can dispose of them only if they fulfill [...]
SEOUL, April 14 (Korea Bizwire) —LG Chem, a South Korean chemical company, and China’s Huayu Cobalt have announced plans to build a joint battery precursor plant in Saemangeum, South Korea. The goal of the partnership is to bolster the domestic supply chain for battery materials in Korea in anticipation of the implementation of the U.S. [...]
SEOUL, April 13 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical company, said Thursday it has entered an agreement with a U.S. renewable chemical firm to develop and commercialize a raw material for bioplastics. LG Chem signed the joint development agreement (JDA) with Gevo Inc., a Colorado-headquartered developer of renewable chemicals and biofuels, [...]
SEOUL, April 12 (Korea Bizwire) — The global electric vehicle (EV) battery market is forecast to post rapid growth to US$616 billion in 2035, a market tracker said Wednesday, with the China-based production likely to sharply shrink amid the EV-related policy revamps in the United States and Europe. The projection marks a fivefold increase from [...]