SEOUL, Nov. 24 (Korea Bizwire) — South Korean companies can now trade carbon emissions permits through securities firms, in a shift designed to make the market more accessible and liquid, the Ministry of Climate, Energy and Environment said Sunday. The change, effective Monday, allows firms to open brokerage accounts and trade emissions rights using the same [...]
SEOUL, Nov. 16 (Korea Bizwire) — LG Group said Sunday it reduced roughly 5.39 million tons of carbon emissions in 2024, marking a 26 percent drop from the previous year and putting the conglomerate ahead of its climate goals. The results were detailed in the latest LG Net Zero Special Reporting 2024, published on Nov. 14. [...]
SEOUL, Mar. 28 (Korea Bizwire) – A team of South Korean researchers has developed a pioneering technology that utilizes a microorganism found in animal feces to reduce carbon dioxide emissions from ships and even produce alcohol as a byproduct. This breakthrough is expected to aid the shipping industry and other sectors in reducing their greenhouse gas [...]
SEOUL, Mar. 20 (Korea Bizwire) – POSCO Holdings, a major South Korean steelmaker listed on the KOSPI index, has seen a precipitous drop in foreign shareholdings over the past year, as global investors grow increasingly wary of the company’s climate impact and carbon footprint. According to data from the Korea Exchange, foreign ownership of POSCO Holdings [...]
SEOUL, Feb. 5 (Korea Bizwire) – A recent study suggests that if current levels of greenhouse gas emissions persist, the number of summer fatalities in Seoul could increase by up to 82% by the late 21st century. Even with efforts to achieve carbon neutrality, the increase in mortality rate could reach 23%. Published in the Journal [...]
SEOUL, July 31 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp. said they will establish a blockchain-based subcontractor carbon emissions history management automation system (SCEMS) and distribute it for free to their subcontractors. SCEMS is an integrated system that covers the entire process, from raw material procurement to component and vehicle [...]
SEOUL, June 15 (Korea Bizwire) — A recent study showed that carbon emissions may further exacerbate heavy showers. The Korea Meteorological Administration and the Seoul-based APEC Climate Center revealed Tuesday the forecast for extreme rainfall throughout 26 regions in the country. In a ‘high carbon scenario’ (SSP5-8.5), extreme rainfall will increase in strength by approximately [...]
SEOUL, April 29 (Korea Bizwire) — Jeju Air Co. has taken a string of measures to reduce carbon emissions, among others, replacing aircraft brakes to lower aircraft weight and washing aircraft engines. The South Korea’s biggest low-cost carrier said Thursday that it had replaced the steel brakes on 24 planes, including four in 2019, five [...]
SEOUL, April 22 (Korea Bizwire) — Samsung Electronics Co. said Thursday that plastic parts that the company has recycled from discarded ocean-bound fishing nets, which are used to make Galaxy smartphones, tablet PCs and laptops, are more effective in cutting back on carbon emissions than other kinds of plastic. The life cycle assessment (LCA) results [...]
SEOUL, March 22 (Korea Bizwire) — South Korea companies with huge carbon emissions have formulated ambitious goals to achieve carbon neutral operations, but are having difficulty implementing such goals primarily due to high costs, a business lobby group said. The Korea Chamber of Commerce and Industry (KCCI) conducted a survey of 346 local companies that [...]