SEOUL, Aug. 16 (Korea Bizwire) — South Korea’s three major battery manufacturers — LG Energy Solution, Samsung SDI, and SK On — are grappling with declining factory utilization rates, reflecting the broader global slowdown in electric vehicle (EV) demand known as the “EV chasm.” According to semiannual filings released on August 15, LG Energy Solution [...]
SEOUL, Aug. 15 (Korea Bizwire) — South Korea’s nuclear regulator has warned that rapidly warming seawater — used to cool reactors — could force as many as eight reactors offline within the next 10 years unless cooling capacity is improved. At a meeting on August 14, the Nuclear Safety and Security Commission received a report [...]
SEOUL, Aug. 14 (Korea Bizwire) – South Korea’s nuclear safety commission on Thursday approved the restart of the Shin-Hanul 2 reactor, which had been shut down for maintenance following two malfunctions earlier this year. The Nuclear Safety and Security Commission authorized the reactor to reach a “criticality” level, enabling the resumption of operations after repairs [...]
SEOUL, Aug. 14 (Korea Bizwire) — Hyundai Steel has withdrawn a 4.61 billion won ($3.4 million) damages lawsuit against members of its irregular workers’ union, who staged a strike in 2021. The move comes as the ruling Democratic Party pushes to pass the so-called “Yellow Envelope Law” this month, aimed at limiting companies’ ability to seek [...]
SEOUL, Aug. 13 (Korea Bizwire) — Korea Electric Power Corp. (KEPCO), South Korea’s state-owned utility, said Wednesday it signed a preliminary agreement with Vietnamese energy company Petrovietnam (PVN) to help cultivate a skilled workforce for Vietnam’s emerging nuclear power sector, as the two countries seek to deepen industrial cooperation. The memorandum of understanding (MOU), inked earlier [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea and Vietnam will work to expand bilateral cooperation in the energy industry, including renewable energy and nuclear power, as the two countries aim to bolster ties in trade, security and other sectors, Seoul officials said Monday. The countries’ industry ministries signed a memorandum of understanding (MOU) to [...]
SEOUL, Aug. 7 (Korea Bizwire) — Samsung SDI Co. said Thursday an electric vehicle (EV) equipped with its batteries has set a world record for the longest distance driven on a single charge. The Lucid Air Grand Touring, an EV produced by U.S. automotive company Lucid Group Inc., traveled 1,205 kilometers from Switzerland to Germany, [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korea’s Ministry of Environment on Wednesday unveiled new regulatory exemptions aimed at promoting the recycling of lithium iron phosphate (LFP) batteries and electronic waste, as part of a broader push to support emerging green technologies. Under the country’s regulatory sandbox framework, which allows temporary exemptions from existing laws [...]
SEOUL, Aug. 6 (Korea Bizwire) — Samsung E&A Co., a plant engineering arm of Samsung Group, said Wednesday it has won a 36 billion-won (US$26 million) order for the initial design and planning of a liquefied natural gas (LNG) project in Indonesia. Under a letter of award, the company will carry out front-end engineering design [...]
SEOUL, August 6 (Korea Bizwire) — South Korea has nearly completed the installation of more than 10,000 smart electric vehicle (EV) chargers designed to prevent overcharging-related fires, the Ministry of Environment announced on Tuesday. As part of a broader rollout that began last year, 42,032 smart chargers are being deployed nationwide, with 11,039 units already [...]