SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s top three battery makers invested a total of 1 trillion won in research and development (R&D) in the first half of this year. The combined R&D spending of LG Energy Solution Ltd., SK On Co. and Samsung SDI Co. together was estimated at 997.1 billion won (US$759 [...]
SEOUL, Aug. 18 (Korea Bizwire) — SK Innovation Co. has received global certificates for the establishment of a system to measure the impact of greenhouse gases on the entire cycle of production for the first time among South Korean refiners. The company announced on Wednesday that it had received a string of international standard certificates [...]
SEOUL, Aug. 15 (Korea Bizwire) — Two affiliates of South Korean refining-to-semiconductors conglomerate SK Group said Monday they have invested US$250 million in U.S. nuclear reactor design firm TerraPower for joint business opportunities. Through the investment, SK Inc., the holding company of SK Group, and SK Innovation Co., the country’s leading refiner, will jointly develop [...]
SEOUL, Aug. 15 (Korea Bizwire) — South Korea’s four major refiners posted a record combined operating profit in the first half as high oil prices pushed up refining margins, their earnings data showed Monday. From January to June, SK Innovation Co., GS Caltex Corp., S-Oil Corp. and Hyundai Oilbank Co. reported 12.32 trillion won (US$9.43 [...]
GIMHAE, Aug. 12 (Korea Bizwire) – Hydrogen fuel-cell buses made by a South Korean manufacturer will be deployed as intercity buses nationwide this year. The Ministry of Environment, joined by three metropolitan cities and provinces, will test drive a high-floor hydrogen-powered bus, to be released by Hyundai Motor Co. later this year for one intercity route, three [...]
SEOUL, Aug. 12 (Korea Bizwire) — POSCO International Corp., a trading arm of South Korean steel giant POSCO Holdings Co., said Friday it will push to merge with an energy affiliate, as it seeks to expand its business portfolio into renewable and other green energy sectors. POSCO International’s board earlier approved the plan and it [...]
SEOUL, Aug. 12 (Korea Bizwire) — The state-run Korea Electric Power Corp. saw its net loss widen sharply in the second quarter of the year on frozen electricity rates amid higher fuel costs. The consolidated net loss came to 4.84 trillion won (US$3.7 billion) in the April-June period, compared with a loss of 661.97 billion [...]
SEOUL, Aug. 9 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) likely posted a massive loss in the second quarter due to surging costs following record red ink three months earlier, a market tracker said Tuesday. The market consensus of KEPCO’s consolidated operating loss stands at 5.37 trillion won (US$4.11 billion) for the [...]
SEOUL, Aug. 5 (Korea Bizwire) — SK IE Technology Co. (SKIET), an electronics materials maker under South Korea’s SK Group, said Friday it has signed an initial deal with Vingroup, Vietnam’s largest conglomerate, to supply a battery material to its affiliate. Under the agreement with Vin Energy Solution (VinES), SKIET will supply its battery separators [...]
SEOUL, Aug. 5 (Korea Bizwire) — Major oil refiner GS Caltex Corp. has teamed up with the Korean unit of Swiss food giant Nestle to establish a circular economy, aimed at promoting resource efficiency and carbon reduction. GS Caltex and Lotte-Nestle Korea Ltd. on Thursday formed a business agreement to promote the recycling of waste [...]