SEOUL, Feb. 26 (Korea Bizwire) — The rapid adoption of electric vehicles (EVs) in the United States is a boon unseen before for related industries, and SK Signet Inc. is at full throttle to seize on the momentum with its advanced charging technology, its CEO has said. The unit under South Korea’s energy-to-telecom conglomerate SK [...]
SEOUL, Feb. 24 (Korea Bizwire) — The state-run utility Korea Electric Power Corp. (KEPCO) said Friday its operating loss more than quintupled on-year to hit a record high last year due to higher fuel costs and limited electricity rate hikes. Its operating loss came to 32.63 trillion won (US$25.02 billion) in 2022, compared with 5.85 [...]
SEOUL, Feb. 24 (Korea Bizwire) — POSCO Holdings Inc., South Korea’s top steelmaker, said Friday it has signed a preliminary deal with a Chinese firm for the production of nickel in Indonesia. Under the deal with Chinese resource trading and mining firm Ningbo Liqin, POSCO will build a plant to produce 120,000 tons of mixed [...]
SEOUL, Feb. 23 (Korea Bizwire) — POSCO International Corp., a major South Korean commodities trader, said Thursday it has won a bid to explore gas mines in Indonesia as it is stepping up to expand its energy and resources drive. A consortium involving POSCO International and Indonesian state-owned PT Pertamina Hulu Energy (PHE) obtained the [...]
SEOUL, Feb. 23 (Korea Bizwire) — SK Materials Co., a semiconductor and display material unit under SK Group, has teamed up with U.S. oil major Exxon Mobil Corp. to step into the blue ammonia market. The two parties announced on Wednesday that they had signed an agreement to mass-produce and import blue ammonia using next-generation [...]
SEOUL, Feb. 23 (Korea Bizwire) — Incheon International Airport will take a leap forward to become an eco-friendly airport through the construction of a large liquefied hydrogen charging station. SK Plug Hyverse on Wednesday signed a business agreement for the establishment of eco-friendly airport infrastructure with the Ministry of Land, Infrastructure and Transport, the Incheon [...]
SEOUL, Feb. 22 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s top battery maker, said Wednesday it has signed a non-binding agreement with Ford Motor Co. and Turkey’s Koc Holding A.S. to push for a joint venture to build an electric vehicle (EV) battery plant in Turkey. The announcement came two weeks after [...]
SEOUL, Feb. 20 (Korea Bizwire) — SK Signet Inc., a South Korean manufacturer of electric vehicle (EV) chargers, said Monday it has recently clinched its first supply contract in Europe worth 7.3 million euros (US$7.8 million) as it accelerates its market expansion in the region. The contract was signed in December last year with an [...]
SEOUL, Feb. 20 (Korea Bizwire) — SK Geocentric Co., a chemical materials unit of South Korean conglomerate SK Group, has announced plans to set up a plastic recycling plant in the Saint-Avold region in northeastern France. The company completed the selection of a site in collaboration with French water management company Suez S.A. and Quebec-based [...]
SEOUL, Feb. 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Friday it has invested US$75 million to acquire a stake in U.S.-based Piedmont Lithium Inc. for a stable supply of the key material for electric vehicle batteries. With the equity investment, LG Chem owns about 6 percent of Piedmont common [...]