SEOUL, Sept. 4 (Korea Bizwire) — A global consortium led by South Korea’s state-run Korea Hydro & Nuclear Power Co. (KHNP) has launched a large-scale project to refurbish an aging nuclear reactor at Romania’s Cernavoda power plant, KHNP said Thursday. A groundbreaking ceremony took place Wednesday (local time) to mark the start of the project, [...]
SEOUL, Sept. 3 (Korea Bizwire) — LG Energy Solution has secured one of its largest-ever contracts with Mercedes-Benz, cementing its position as a core supplier in the German automaker’s electric vehicle push. The South Korean battery maker said Wednesday it signed two supply agreements totaling 107 gigawatt-hours (GWh). One covers 75 GWh of batteries for [...]
SEOUL, Sept. 3 (Korea Bizwire) — The state-run Korea Hydro & Nuclear Power (KHNP) said Wednesday it has signed a memorandum of understanding (MOU) with the Serbian government to expand cooperation in the nuclear energy and hydrogen sectors. Under the MOU, KHNP will join hands with Serbia’s Ministry of Mining and Energy to lay ground [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s battery makers, long buoyed by global demand for electric vehicles, are bracing for a sharp downturn after the United States abruptly ended tax credits for EV purchases, a move analysts warn could choke demand for Korean cells. In a report released Sunday, the Korea Institute for Industrial [...]
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 [...]