SEOUL, April 18 (Korea Bizwire) – A senior U.S. energy official on Friday underscored South Korea’s growing significance in the Donald Trump administration’s push to expand American energy exports and diversify global supply chains. Speaking via video remarks at an energy forum hosted by the American Chamber of Commerce in Korea (AMCHAM) held in Seoul, [...]
SEOUL, April 18 (Korea Bizwire) — A South Korean consortium led by LG has decided to withdraw a project worth around 11 trillion won (US$7.7 billion) to establish an electric vehicle (EV) battery supply chain in Indonesia, industry sources said Friday. The consortium, which includes LG Energy Solution, LG Chem, LX International Corp. and other [...]
SEOUL, April 18 (Korea Bizwire) — Daewoo Engineering & Construction Co. has signed a US$700 million framework agreement to build a fertilizer plant in Turkmenistan, Seoul’s industry ministry said Friday. The agreement was signed in Seoul with Turkmenistan’s state-owned chemical firm, Turkmenhimiya, according to the Ministry of Trade, Industry and Energy, noting the South Korean [...]
SEOUL, April 18 (Korea Bizwire)- South Korea’s Asiana Airlines Inc. on Friday came under fire for mislabeling two Ukrainian cities as part of Russia on its in-flight infotainment system, drawing criticism from Ukrainian nationals and social media users. According to a passenger who shared a photo on Instagram, the cities of Dnipro (formerly Dnepropetrovsk) and [...]
SEOUL, April 18, (Korea Bizwire) — South Korea’s major battery manufacturers are delaying or scrapping joint ventures with Chinese companies as geopolitical risks, regulatory uncertainty, and market stagnation force a strategic rethink in the electric vehicle (EV) supply chain. According to industry sources on April 17, LG Energy Solution has postponed construction of two planned [...]
UISEONG•YEONGDEOK, South Korea, April 18 (Korea Bizwire) – Forestry workers in North Gyeongsang Province are facing renewed despair after record-breaking wildfires scorched thousands of hectares last month — only to find that government compensation falls far short of the actual losses incurred. According to local authorities and affected families, the wildfires that broke out on [...]
SEOUL, April 17 (Korea Bizwire) — Hyundai Motor will temporarily suspend domestic production of its flagship electric vehicles, the Ioniq 5 and Kona EV, as weakening overseas demand and shifting global subsidy policies weigh heavily on exports. According to industry sources on April 17, Hyundai plans to shut down Line 12 at its Ulsan Plant 1 [...]
SEOUL, April 17 (Korea Bizwire) — LG CNS Co., an information technology affiliate of South Korea’s LG Electronics Inc., said Thursday it has signed agreements to develop electric vehicle (EV) charging infrastructure and smart city solutions in the United States. Under a deal with the New York City Economic Development Corporation, LG CNS will install [...]
SEOUL, April 17 (Korea Bizwire) – Kia Corp., a smaller affiliate of South Korea’s top automaker Hyundai Motor Co., said Thursday its all-electric EV3 has been named 2025 World Car of the Year at the New York International Auto Show. The EV3′s achievement brings Kia’s number of wins at the World Car Awards to six [...]
SEOUL, April 17 (Korea Bizwire) – South Korean defense giant Hanwha Aerospace Co. said Thursday it has signed a memorandum of understanding (MOU) with a Romanian university to expand industry-academia collaborations in the Eastern European country. The trilateral agreement with the University of Science and Technology Politehnica Bucharest and South Korea’s Pusan National University aims [...]