SEOUL, Feb. 15 (Korea Bizwire) — South Korean battery maker SK On said Wednesday it is looking into the suspended production of Ford Motor Co.’s electric pickup truck equipped with its battery. Ford Motor has suspended production and shipment of the all-electric F150 Lightning pickup since early last week to address a potential battery issue, [...]
SEOUL, Feb. 15 (Korea Bizwire) — Samsung Electronics Co.’s Brazil office on Monday (local time) unveiled an online store-dedicated discount policy to promote the recycling of old home appliances. The new program, dubbed EcoTroca, provides a discount coupon to consumers who return old home electronics as a way to encourage their disposal in a proper and sustainable [...]
SEOUL, Feb. 13 (Korea Bizwire) — Samsung Electronics Co. said Monday it aims to broaden the use of eco-conscious materials to all its smartphone products in the coming years. The world’s largest smartphone maker said it plans to use recycled plastic materials in all its new flagship Galaxy smartphones and stop using plastics in packaging [...]
SEOUL, Feb. 10 (Korea Bizwire) — SK On Co., the battery-making unit under South Korea’s SK Group, is struggling after missing the opportune timing for its initial public offering (IPO), and accumulating operating losses. Investor resistance to the listing of subsidiaries through physical division has become rampant since the listing of LG Energy Solution Ltd., [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s exports of solar panels and other related parts jumped 38 percent on-year in 2022 on the back of major nations’ push to expand renewable energy development, the industry ministry said Thursday. Outbound shipments of solar panels, solar cells, solar wafers and other items combined came to US$1.64 [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s petroleum refining industry, which enjoyed record-breaking financial results last year thanks to sky-high oil prices, is taking steps to support the heating bills for the nation’s energy-vulnerable households. Hyundai Oilbank Co. said Wednesday it will donate 10 billion won (US$7.90 million) to help alleviate the burden of [...]
SEOUL, Feb. 8 (Korea Bizwire) — Three South Korean electric vehicle (EV) battery makers saw their global market share decline in 2022 from a year earlier amid robust growth of Chinese rivals, industry data showed Wednesday. The trio — LG Energy Solution Ltd., SK Innovation Co. and Samsung SDI Co. — held a combined 23.7 [...]
SEOUL, Feb. 7 (Korea Bizwire) — SK Innovation Co. said Tuesday it plans to spend 7 trillion won (US$5.58 billion) in capital spending this year to shore up its loss-making battery business and aims to achieve a turnaround by next year. The amount earmarked for SK On Co. makes up the substantial portion of the [...]
SEOUL, Feb. 2 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Thursday it has signed a long-term agreement to supply battery modules for heavy-duty electric vehicles (EVs) to a U.S.-based power system provider. LGES will supply 19 gigawatt-hour battery modules to Freudenberg E-Power Systems (FEPS), a Michigan-based developer of battery packs for heavy-duty EVs, [...]
SEOUL, Feb. 1 (Korea Bizwire) — POSCO Chemical Co., a South Korean manufacturer of industrial materials, said Wednesday it has begun construction of its second factory for synthetic graphite anode materials in the country’s southeast. POSCO Chemical broke ground on the plant at its key manufacturing complex in Pohang, 272 kilometers southeast of Seoul, on [...]