SEOUL, July 30 (Korea Bizwire) — LG Electronics announced Monday that its consumer recycling campaign “Battery Return” has collected more than 108 tons of used batteries over the past four years, underscoring its commitment to circular resource practices and rare metal recovery. Since its launch, the program has retrieved over 240,000 batteries, yielding more than 9.6 [...]
SEOUL, July 29 (Korea Bizwire) — POSCO E&C’s chief executive publicly apologized on Tuesday following a series of fatal industrial accidents at company construction sites, drawing sharp rebuke from President Lee Jae-myung, who likened the repeated deaths to “murder by willful negligence.” At a press conference held at the company’s headquarters in Incheon’s Songdo district, CEO [...]
SEOUL, July 28 (Korea Bizwire) — South Korea’s battery sector surged to the top of domestic stock performance rankings in July, buoyed by rising lithium prices and new U.S. trade actions against China. Yet individual investors are increasingly betting on a market correction, diverging sharply from the bullish stance of foreign institutions. According to data [...]
SEOUL, July 16 (Korea Bizwire) — South Korea on Wednesday launched a task force to establish the so-called RE100 industrial complexes entirely powered by renewable energy sources, in a move aimed at addressing regional energy imbalances and accelerating the country’s energy transition, the industry ministry said. In its inaugural meeting, the task force discussed necessary [...]
SEOUL, July 16 (Korea Bizwire) — As South Korea seeks to meet its 2035 carbon reduction targets, the government is considering the wide-scale adoption of heat pumps as a key strategy to cut greenhouse gas emissions in the building sector. But the plan has sparked debate over its practicality, cost, and fit with the country’s [...]
NEW YORK, July 14 (Korea Bizwire) — LG Energy Solution and General Motors’ battery joint venture, Ultium Cells, announced plans to retool their Spring Hill, Tennessee plant to mass-produce low-cost lithium iron phosphate (LFP) batteries, aiming to begin production by late 2027. Ultium Cells said the production line overhaul will start later this year, shifting [...]
SEOUL, July 14 (Korea Bizwire) — SK Innovation has scrapped its ambitious plan to transform traditional gas stations into eco-friendly energy hubs, signaling a broader shift in the SK Group’s strategic priorities. According to industry sources on July 13, SK Energy, a subsidiary of SK Innovation, officially notified the Korea Industrial Complex Corporation of its [...]
MUAN, South Korea, July 14 (Korea Bizwire) — South Korea is pushing forward with legislation that would offer sweeping incentives — including deep electricity discounts and tax breaks — for companies operating in designated RE100 industrial zones powered entirely by renewable energy. The move is expected to significantly bolster efforts to attract major data center investments [...]
SEOUL, July 11 (Korea Bizwire) — SK ecoplant Co., the construction arm of South Korea’s SK Group, has sold part of its stake in U.S.-based fuel cell company Bloom Energy Corp., sources said Friday. SK ecoplant offloaded 10 million common shares in Bloom Energy through an over-the-counter block trade at US$27.60 per share on Thursday, [...]
SEOUL, June 26 (Korea Bizwire) — South Korea has approved the decommissioning of the country’s first commercial nuclear reactor, the now-defunct Kori-1 unit, the Nuclear Safety and Security Commission (NSSC) said Thursday, also marking its first-ever decommissioning of a reactor. Unit 1 of the Kori nuclear power plant, located in the southeastern city of Busan, [...]