SEOUL, Dec. 19 (Korea Bizwire) — LG Energy Solution Ltd. said Monday it will spend 4 trillion won (US$3.07 billion) over the next five years to expand production and other facilities at its main domestic battery manufacturing complex in the country’s central region. The investment in the Ochang plant, located in Cheongju, North Chungcheong Province, [...]
SEOUL, Dec. 18 (Korea Bizwire) — The heads of South Korea’s biggest conglomerate Samsung Group and German carmaker BMW Group discussed ways to strengthen their battery business partnership, Samsung said Sunday. Samsung Group’s de facto leader Lee Jae-yong met with BMW Group Chief Executive Oliver Zipse at the BMW Driving Center in Incheon, just west [...]
SEOUL, Dec. 15 (Korea Bizwire) — South Korea has the highest foreign dependency among its rival countries for the supply of critical minerals for secondary batteries, with China accounting for the majority of the imports, a report said Thursday. South Korea topped Japan, China and Germany with the highest ratio of 77.1 percent in the [...]
SEOUL, Dec. 15 (Korea Bizwire) — Hyundai Electric & Energy Systems Co., an energy solution unit of shipbuilding giant Hyundai Heavy Industries Group, has teamed up with GE Renewable Energy, a subsidiary of U.S. industrial giant General Electric Co., to launch an offshore wind power venture. The two parties signed a strategic partnership to make [...]
DAEJEON, Dec. 15 (Korea Bizwire) – A joint research team from the Korea Institute of Industrial Technology and Hanyang University announced that it has developed a highly durable floating solar panel structure by recycling low quality waste carbon fiber. The research team found that the surface cohesion between carbon fiber and plastic resin is maximized [...]
SEOUL, Dec. 14 (Korea Bizwire) — South Korea on Wednesday held a ceremony to celebrate the operation of its 27th nuclear reactor, as the country has striven to become a nuclear powerhouse and to better manage electricity demand. The construction of the Shin Hanul No. 1 nuclear reactor began in 2010 in Uljin, 307 kilometers [...]
SEOUL, Dec. 13 (Korea Bizwire) — LG Energy Solution Ltd. said Tuesday its joint venture with U.S. General Motors Co. has secured US$2.5 billion through a loan program approved by the U.S. government, funding that will help finance the construction of three electric vehicle battery plants in America. The U.S. Department of Energy (DOE) finalized [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group said Monday it will supply more than 1,000 hydrogen fuel-cell systems to a German environment-friendly vehicle maker in a three-year deal. Under the contract, Hyundai Motor Group will supply 1,100 hydrogen fuel-cell systems for eco-friendly garbage and cargo trucks to be manufactured [...]
SEOUL, Dec. 10 (Korea Bizwire) — The industry ministry said Friday it will again push for a law revision meant to raise the ceiling of bond issuance by the money-losing state-run Korea Electric Power Corp. (KEPCO) in a move to prevent its liquidity crisis and ensure stable power supplies. The ministry made the decision in [...]
SEOUL, Dec. 9 (Korea Bizwire) — Hyundai Motor Group and SK On Co. will build an electric vehicle battery manufacturing facility near Atlanta in the U.S. state of Georgia, the state government has announced, after the two South Korean companies unveiled a plan to join hands on EV battery supply. The two companies will establish [...]