SEOUL, Jan. 19 (Korea Bizwire) — South Korean battery maker SK On Co. said Thursday it has joined hands with a U.S. company to jointly develop natural graphite anode materials used in electric vehicle (EV) batteries, in the latest move to diversify the supply of key battery components. Under the joint development agreement recently signed [...]
SEOUL, Jan. 19 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Thursday it will complete the acquisition of AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, later this week. It has invested US$571 million in its U.S. affiliate, LG Chem Life Science Innovation Center, to take [...]
DAVOS, Jan. 18 (Korea Bizwire) — Danish wind turbine producer Vestas Wind Systems will invest US$300 million in South Korea and move its Asia-Pacific headquarters to the country, the presidential office said Wednesday. The investment will be made toward a large-scale turbine parts plant that will produce key equipment for wind turbines for export to [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korean builder DL E&c Co. and nuclear plant components maker Doosan Enerbility Co. announced on Wednesday that they had signed a deal with U.S. small modular reactor (SMR) maker X-energy to make an equity investment and to supply core equipment. SMRs refer to modules comprised of reactors, steam [...]
SEOUL, Jan. 18 (Korea Bizwire) — Amogy Inc., a U.S. clean energy startup backed by South Korea’s SK Innovation Co., has successfully carried out a test-drive of a semitruck running on its ammonia-based fuel cell platform, in a scale-up of demonstrations for the next alternative renewable fuel. Amogy tested a modified 2018 Freightliner Cascadia powered [...]
SEOUL, Jan. 18 (Korea Bizwire) — The Ministry of Food and Drug Safety said Tuesday that it had approved the use of physically recycled material made of transparent waste PET bottles in the production of food containers. Thus far, plastic recycling in South Korea has been limited to the method of separating raw materials through [...]
COVINGTON, Jan. 16 (Korea Bizwire) – The SKC campus, located about 56 kilometers east of Atlanta, is where the chemical materials unit of SK, South Korea’s energy-to-telecom conglomerate, built its first U.S. production facility in 1999 as a PET film developer. More than two decades thereafter, SKC is building a new facility on the same [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s leading electric vehicle (EV) battery maker, LG Energy Solution Ltd. (LGES), and defense-focused Hanwha Group said Monday they have joined hands to establish battery production facilities for the energy storage system (ESS) in the United States and develop batteries for air mobility and other future growth engines. [...]
SEOUL, Jan. 16 (Korea Bizwire) — Lotte Chemical Corp. said Monday it is selling its subsidiary in Pakistan to a local chemical company for 192.4 billion won (US$156 million) as part of efforts to streamline its business with a focus on advanced materials and eco-friendly products. Lucky Core Industries, a Pakistani chemical company, will take [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s SK Group said Monday it has signed a partnership deal with the sovereign wealth fund of the United Arab Emirates (UAE) to establish a carbon credit market in Asia, as part of efforts to tackle climate change in the private sector. SK Group Chairman Chey Tae-won signed [...]