SEOUL, Aug. 3 (Korea Bizwire) — Samsung Engineering Co. and five other South Korean companies have teamed up with Malaysia’s state energy company Petroliam Nasional Berhad to work on a project to capture, transport and store carbon dioxide, an emerging technology for emissions reduction. Under a memorandum of understanding signed in a virtual meeting in [...]
SEOUL, Aug. 3 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it will run its global production sites only on renewable energy starting in 2025 as part of efforts to achieve the goals for sustainable growth. All battery production facilities in South Korea, North America, Europe and China will operate on 100 percent renewable [...]
SEOUL, Aug. 2 (Korea Bizwire) — The global market share of major South Korean battery makers fell in the first half of this year from a year earlier amid strong growth of Chinese rivals, a report showed Tuesday. LG Energy Solution Ltd., SK On Co. and Samsung SDI Co. together accounted for a combined 25.8 [...]
SEOUL, Aug. 2 (Korea Bizwire) — Hyundai Motor Co. said Tuesday it will ship 27 hydrogen-powered trucks to Germany in its second European export deal for the zero-emission commercial car. Hyundai will supply 27 Xcient hydrogen fuel-cell electric trucks to seven German companies. The German firms will receive local government subsidies for environment-friendly commercial cars, [...]
SEOUL, Aug. 1 (Korea Bizwire) – Lotte Confectionary said Monday it has inked a strategic partnership with Hyundai Oilbank, a major South Korean refiner, to make forays into the biodiesel fuel business. Biodiesel is an alternative fuel similar to fossil diesel, the most used type of diesel fuel. The substance can be produced from vegetable [...]
SEOUL, July 29 (Korea Bizwire) — Samsung SDI Co. said Friday it posted record high operating income and sales in the second quarter, driven by strong sales of electric vehicle (EV) batteries. Operating income reached 429 billion won (US$330.4 million) in the April-June period, up 45.3 percent from a year earlier, the company said in [...]
SEOUL, July 29 (Korea Bizwire) — SK Innovation Co. said Friday its second-quarter profit more than quadrupled from a year earlier, boosted by robust sales of petroleum products amid higher oil prices. Its battery unit, SK On Co., however, suffered an extended loss. Despite this, the refiner maintained its forecast that the loss-making battery unit [...]
SEOUL, July 29 (Korea Bizwire) — Hanwha Group, South Korea’s seventh-largest conglomerate by assets, announced Friday it will reshape its key affiliates to bolster its push for green energy, battery and semiconductor components. Hanwha will combine its two defense units and place them under the wing of Hanwha Aerospace Co., its largest defense arm that [...]
SEOUL, July 28 (Korea Bizwire) — POSCO Chemical Co. will supply a key electric vehicle (EV) battery component to General Motors Co. for three years starting 2023, in an additional US$10.8 billion deal expected to give a boost to the South Korean firm’s pivot to the battery materials sector. POSCO Chemical will supply high-nickel cathodes [...]
SEOUL, July 28 (Korea Bizwire) — South Korean builder SK ecoplant Co. plans to develop a technology to directly produce hydrogen from organic waste resources under an industry, academia and research institute collaboration system. The company said Wednesday it will jointly carry out the state project “Future Hydrogen Original Technology Development” launched by the National [...]