JEJU, Jan. 13 (Korea Bizwire) – The provincial government of Jeju Island said Thursday it will establish energy storage systems (ESS) at three sites on the island on a gradual basis by 2026 as part of efforts to ensure the stable storage and supply of renewable energy power. The three ESS will have a combined [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea’s electricity consumption touched a record monthly high in December as the country was gripped by a nationwide cold wave and heavy snow, the power operator said Tuesday. The country’s average maximum power consumption stood at 82,716 megawatts (MW) last month, up 5.1 percent from a year earlier, [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea will raise first-quarter electricity rates by the largest margin in about four decades on high global energy costs and mounting losses of the state utility company, the industry ministry said Friday. The government decided to jack up the electricity rates for consumer and industrial use by 13.1 [...]
SEOUL, July 11 (Korea Bizwire) — South Korea’s electricity transaction volume touched a new all-time high in the first half of the year due to eased social distancing restrictions and an early heat wave, data showed Monday. The volume of power traded in Asia’s fourth-largest economy stood at 269,432 gigawatt-hours (GWh) in the January-June period, [...]
SEOUL, Feb. 26 (Korea Bizwire) — President Moon Jae-in said Friday that South Korea will fully use its nuclear power plants under its nuclear phase-out scheme, calling nuclear power a mainsource of electricity over the next 60 years. “Over the next 60 years, while nuclear power plants continue to operate, nuclear power plants should be [...]
SEJONG, Jan. 25 (Korea Bizwire) — South Korea will launch an energy cashback pilot program starting with three cities — Sejong, Naju and Jincheon. Under this program, apartment complexes and households that consume less electricity than the average of neighboring apartment complexes and households can receive a cashback refund for the amount saved. The apartment [...]
DAEJEON, Jan. 18 (Korea Bizwire) — A South Korean research team has developed a multi-functional noise barrier technology that can produce both electricity and thermal heat. The Korea Institute of Energy Research said its research teams had developed a new photovoltaic-thermal (PVT) soundproof technology that uses a solar photovoltaic panel, a solar collector and a [...]
SEOUL, Oct. 13 (Korea Bizwire) — Starting from the end of this month, companies will be allowed to directly purchase electricity produced from renewable energy. This will broaden the way for companies to participate in the RE100 campaign that calls for companies to meet their entire electricity demand with renewable energy such as wind power [...]
CHANGWON, Oct. 8 (Korea Bizwire) — The Korea Electrotechnology Research Institute (KERI) has developed a new technology that enables wearable electronic devices to produce and supply electricity for themselves by acting as their own power sources. The state-run institute announced on Thursday the development of an integrated technology comprised of a self-charging nano generator that [...]
JEJU, Oct. 1 (Korea Bizwire) — The municipality of the southern resort island of Jeju will introduce a compensation system to promote the use of overproduced and wasted renewable energy for electric vehicle (EV) charging. The the Jeju provincial government on Thursday signed a business agreement with the state-run energy firm Korea Electric Power Corp. [...]