SEOUL, Oct. 19 (Korea Bizwire) – South Korean fuel cell maker Doosan Fuel Cell Co. said Monday that it will invest 72.4 billion won (US$63.4 million) to build a cutting-edge fuel cell plant. Doosan Fuel Cell, a unit of cash-strapped Doosan Group, aims to churn out solid oxide fuel cells (SOFCs), energy conversion devices generating [...]
SEOUL, Oct. 19 (Korea Bizwire) — South Korea plans to acquire a dozen types of advanced military hardware, such as suicide unmanned aerial vehicles (UAVs) and gun-shooting drones, by next year to better brace for evolving future battle environments, the arms procurement agency said Monday. Under the second round of the “rapid acquisition” project worth [...]
SEOUL, Oct. 19 (Korea Bizwire) — LG Chem Ltd. and SK Innovation Co. — South Korea’s top two electric vehicle battery makers — appear unlikely to produce a breakthrough in their high-stakes trade secret case over EV batteries ahead of next week’s final ruling in the United States, industry officials said Monday. A key issue [...]
SEOUL, Oct. 19 (Korea Bizwire) — Hyundai Motor Co.’s planned global recall of 77,000 Kona Electric vehicles may be a drag on the company’s electrification plan, analysts said Monday. Hyundai Motor plans to voluntarily recall 77,000 Kona Electric models for a faulty battery cell component, as 14 cases of fires in the model — 10 [...]
SEOUL, Oct. 19 (Korea Bizwire) — Despite the prolonged economic recession resulting from the outbreak of the COVID-19 pandemic, sales of luxury items have marked a sharp increase. According to the Ministry of Trade, Industry and Energy, sales of luxury items at the nation’s major department stores were up 9.2 percent year on year in [...]
SEOUL, Oct. 18 (Korea Bizwire) — Tesla Motors Inc. posted explosive sales growth in South Korea this year on the back of growing appetite for electric vehicles and fat subsidies, industry data showed on Sunday. Tesla sold a total of 10,518 vehicles here from January to September, accounting for a whopping 79.6 percent of the [...]
SEOUL, Oct. 17 (Korea Bizwire) — “Tteokbokki,” a popular Korean snack made from rice cakes and red chili pepper sauce, has been voted the No. 1 food to lift people’s spirits during the ongoing coronavirus pandemic, Seoul city government said Saturday. In an online survey in September, the government asked people to name their favorite [...]
SEOUL, Oct. 17 (Korea Bizwire) — Electric vehicle (EV) battery producers in South Korea are growing anxious as Hyundai Motor Co. as well as foreign automakers are experiencing safety issues with EV batteries. The U.S. National Highway Traffic Safety Administration is reportedly carrying out investigations into three fires caused by General Motors Co.’s Chevrolet Bolt [...]
ULSAN, Oct. 16 (Korea Bizwire) — New electric battery technology developed by South Korean researchers will enable electric vehicles (EVs) to travel up to 1,000 kilometers on a single charge. A joint research team from the Ulsan National Institute of Science and Technology and the Samsung Advanced Institute of Technology announced Wednesday that it had [...]
SEJONG, Oct. 16 (Korea Bizwire) — South Korea’s customs agency said Thursday that tax-exempt nicotine solutions accounted for the largest share of last year’s overseas direct purchases of nicotine solutions. The number of overseas direct purchase cases for nicotine solution extracted from tobacco roots or stems and synthetic nicotine solution, both of which are exempt [...]