SEOUL, August 5 (Korea Bizwire) — A team of South Korean scientists has unveiled a breakthrough in electric vehicle (EV) battery technology that could extend battery life more than fivefold, potentially revolutionizing the performance and longevity of EVs. Researchers led by Professor Cho Chang-shin of POSTECH (Pohang University of Science and Technology) and Professor Yoon Sung-hoon [...]
Breakthrough marks milestone in long-endurance unmanned aerial technology using homegrown hydrogen fuel cell SEOUL, Aug. 5 (Korea Bizwire)— A South Korean research team has successfully completed a 12-hour continuous flight using a domestically developed hydrogen fuel cell-powered drone, setting a new national benchmark for unmanned aerial vehicle (UAV) endurance, the Korea Institute of Materials Science [...]
SEOUL, Aug. 4 (Korea Bizwire) — LG Chem Ltd. said Monday its biofuel joint venture established with Italy’s Enilive S.p.A. has started construction of South Korea’s first hydro-treated vegetable oil (HVO) plant, part of the company’s drive to expand sustainable chemical production. The joint venture, named LG-Eni Biorefining, held a groundbreaking ceremony at the HVO [...]
Test run in Trojena highlights group’s technological edge in extreme conditions SEOUL, Aug. 4 (Korea Bizwire) — Hyundai Motor Group said Monday it had successfully demonstrated hydrogen-powered commercial vehicle technology in Saudi Arabia’s Neom, reinforcing its position as a key partner in the kingdom’s ambitious smart city initiative. The South Korean automaker shared video footage [...]
SEOUL, August 4 (Korea Bizwire) — In a major step following recent U.S.-South Korea trade negotiations, Korea Trade Insurance Corporation (K-SURE) has issued its first investment guarantee under a $200 billion bilateral fund aimed at boosting Korean business ventures in the United States. K-SURE announced Sunday that it will provide a $1 billion financial guarantee [...]
SEJONG, Aug. 1 (Korea Bizwire) — The Seoul government held an emergency meeting Friday to devise response measures to the United States’ new 50 percent tariffs on imported copper, the industry ministry said. The Ministry of Trade, Industry and Energy met with officials from Korean companies that export copper-related products, including LS Metal and Poongsan [...]
SEOUL, July 31 (Korea Bizwire) — President Lee Jae Myung on Thursday called for establishing a next-generation power grid as he underscored the importance of shifting the country’s power supply infrastructure to one that centers on renewable energy. “Energy transition has become an essential task,” Lee said as he presided over a meeting of senior [...]
SEOUL, July 31 (Korea Bizwire) — South Korea has agreed to purchase US$100 billion worth of liquefied natural gas (LNG) and other energy products from the United States over the next four years under a tariff deal, U.S. President Donald Trump’s administration announced Thursday. However, the plan does not involve purchasing Alaskan LNG or participation [...]
SEOUL, July 31 (Korea Bizwire) — South Korea’s Hanwha Ocean, one of the nation’s “Big Three” shipbuilders, has opened a new engineering center in India to bolster its competitiveness in the rapidly expanding offshore plant market. According to industry sources on Thursday, Hanwha Ocean’s Offshore Division officially inaugurated the Hanwha Ocean Global Engineering Center India [...]
SEOUL, July 30 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s largest battery manufacturer, said Wednesday it has signed a 5.9 trillion won ($4.26 billion) contract to supply lithium iron phosphate (LFP) batteries to an undisclosed overseas client. In a regulatory filing, LG Energy said the agreement spans three years, from Aug. 1, 2027, [...]