SEOUL, March 23 (Korea Bizwire) — South Korea will be able to source 20,000 tons of lithium hydroxide from domestically recycled electric vehicle (EV) batteries by 2045 as EV purchases will increase, an outlook that calls for strategic efforts to promote the emerging industry given supply chain instability, a report showed Thursday. The projection is [...]
SEOUL, March 23 (Korea Bizwire) — SK Innovation Co., a major South Korean energy company, said Thursday it has invested an additional US$50 million in Amogy Inc., a U.S. developer of an ammonia-based fuel cell platform, expanding the investment in sustainable fuels. SK Innovation took part in the latest $139 million Series B-1 funding round [...]
SEOUL, March 21 (Korea Bizwire) — POSCO Future M Co., a leading South Korean battery components maker, said Tuesday it is building a new cathode plant in the country’s southeast to meet surging demand after its multibillion-dollar supply deal with Samsung SDI Co. The board recently approved the plan to spend 392 billion won (US$300 [...]
SEOUL, March 21 (Korea Bizwire) — POSCO International Corp. said Tuesday it will nurture carbon capture and storage (CCS) as one of its future growth drivers as the trading company accelerates its expansion into green energy. POSCO International said it established in February a new team within its energy division to spearhead the CCS business. [...]
SEOUL, March 20 (Korea Bizwire) – Following the European Union’s release of the draft of the Critical Raw Materials Act last week, South Korean industries are busy exploring any possible ripple effects. The Critical Raw Materials Act calls for not more than 65 percent of the EU’s annual consumption of each strategic raw material from [...]
SEOUL, March 15 (Korea Bizwire) — Samsung SDI Co. has been in talks with General Motors Co. for a potential business collaboration, although no details have materialized yet, its chief said Wednesday. Choi Yoon-ho, president and CEO of the South Korean battery maker, made the comments after media speculation that the company will build a [...]
SEOUL, March 15 (Korea Bizwire) — POSCO Chemical Co., a leading South Korean manufacturer of secondary battery materials, said Wednesday it is showcasing a full lineup of its cathode and anode products and related technologies at an international battery show this week. POSCO Chemical will present high-nickel cathodes, a key component that determines the power [...]
SEOUL, March 14 (Korea Bizwire) — Samsung SDI Co., a major South Korean battery maker, said Tuesday it will showcase two electric vehicle (EV) models made by BMW and Volvo with its nickel-rich batteries at this week’s battery show. On display at InterBattery 2023, due to kick off Wednesday at an exhibition center in southern [...]
SEOUL, March 14 (Korea Bizwire) — Hanwha Solutions Corp. said Tuesday it has appointed an executive of GE Renewable Energy as its new chief technology officer (CTO) in a move to accelerate research and development in next-generation solar, wind and other renewable energy. Danielle Merfeld, vice president and chief technology officer at GE Renewable Energy, [...]
SEOUL, March 9 (Korea Bizwire) — President Yoon Suk Yeol attended the groundbreaking ceremony for a 9.3 trillion-won (US$7 billion) petrochemical plant in the southeastern city of Ulsan on Thursday, hailing the project as a symbol of the friendship and trust between South Korea and Saudi Arabia, his office said. The “Shaheen project,” named after [...]