SEOUL, April 13 (Korea Bizwire) — South Korea saw its trading volume of electricity generated from biomass soar nearly 51 percent in 2019 from a year earlier, data showed Monday. The amount came to 4,199 gigawatt-hours (GWh) last year, up 50.7 percent from the previous year, according to the data by state-run utility firm Korea [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korea’s electricity generation fell for the first time in more than two decades in 2019 amid an economic slowdown and favorable weather conditions, data showed Tuesday. The amount of electricity generated by the nation’s power plants came to 562,239 gigawatt hours (GWh) last year, down 1.5 percent from [...]
GWANGJU, Dec. 31 (Korea Bizwire) — New technology has been developed by South Korean researchers that can convert even ultraviolet light into electricity. A joint research team from the Gwangju Institute of Science and Technology (GIST) and the Korea Photonics Technology Institute said Monday that it had succeeded in developing hybrid flexible copper indium gallium [...]
DAEJEON, Dec. 17 (Korea Bizwire) — A South Korean research team has developed an eco-friendly generator that absorbs small amounts of water from the atmosphere to generate electricity. Researchers at the Korea Advanced Institute of Science and Technology (KAIST) found that if a small amount of water (0.15 ml) is dropped on one side of [...]
SEOUL, Nov. 12 (Korea Bizwire) — Experts have raised concerns that South Korea supply of electricity may come under strong pressure in the winter months as an increasing number of companies and buildings are replacing oil or natural gas with electricity to run their heating systems. “More than 60 percent of total energy consumption in [...]
SEOUL, May 2 (Korea Bizwire) – The latest data from the Korea Energy Agency has revealed that new and renewable energy sources accounted for 6.61 percent of total electricity generation in South Korea in 2015, up from 4.92 percent in 2014 and surpassing 5 percent for the first time. The improvement was largely attributed to [...]
SEOUL, March 27 (Korea Bizwire) – The demand for household solar panels is soaring, with bigger subsidies on offer from the Korea Energy Agency and local governments, as households try to dodge sky-high electricity bills that dumbfounded them last summer. Starting this year, the KEA is providing 3.51 million won ($3,148) in subsidies for a [...]
POHANG, Feb. 15 (Korea Bizwire) – Electricity generated from geothermal energy will soon be distributed to South Korean households for the first time in history. The electricity will come from Pohang, a city on the southeast coast of the Korean Peninsula, which has been making use of geothermal energy some four kilometers below the surface [...]
SEOUL, Feb. 1 (Korea Bizwire) – The inter-Korean gap in electricity generation capacity hit an all-time high in 2015, data showed Wednesday, pointing to the widening difference in economic power between the rivals. South Korea’s power generation capacity stood at 97.6 gigawatts (GW) as of 2015, 13.1 times more than North Korea’s 7.4 GW, according [...]
SEOUL, Nov. 30 (Korea Bizwire) – In an effort to promote new and renewable energy, and stabilize fluctuating prices, the government has decided to institute “20-year fixed-price contracts” that will better guarantee business profits as well as attract more investment in the sector. According to the Ministry of Trade, Industry & Energy, the government will [...]