SEOUL, Jan. 23 (Korea Bizwire) — The energy storage system (ESS) industry, once spotlighted as a newly rising industry, is on the verge of a serious slump. The Hyundai Research Institute reported on Wednesday that the prolonged probe into fire accidents caused by ESS devices is slowing down the growth of the ESS market in [...]
SEOUL, Oct. 14 (Korea Bizwire) — Samsung SDI Co., a major electric vehicle battery maker in South Korea, on Monday unveiled safety measures to tackle fires in energy storage systems (ESS) that have been plaguing the industry. Samsung SDI said it has developed a special fire extinguishing system for ESS and will apply it to [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean battery makers such as No. 1 player LG Chem Ltd. are likely to deliver weaker-than-expected earnings for the third quarter due to weak performance in their chemicals and battery business sectors, industry sources said Sunday. LG Chem, the country’s top chemical firm, is expected to have logged [...]
SEOUL, Oct. 7 (Korea Bizwire) — Shares of South Korea’s largest chemical firm, LG Chem, hit a 52-week low during Monday trading on the Seoul bourse following a grim third-quarter earnings outlook and concerns over its energy storage system (ESS), analysts here said Monday. LG Chem plunged 3.21 percent to touch a new 52-week low [...]
SEJONG, Jun. 11 (Korea Bizwire) — Electric shocks are mainly to blame for a series of fires in energy storage systems (ESS), an expert panel said Tuesday, prompting the government to strengthen safety measures of major components of ESS products. The panel said that DC contactors can explode when a battery system is hit by [...]
SEOUL, May 2 (Korea Bizwire) — South Korea’s energy storage system (ESS) producers have been hit hard by a delay in determining the cause of a series of ESS fires, industry sources said Thursday. A civilian-government committee has been carrying out an investigation into a series of fires that broke out in ESS equipment from [...]
SEOUL, Nov. 2 (Korea Bizwire) — SK Innovation Co. and SK E&S Co. announced yesterday a ribbon cutting ceremony for a new energy storage system (ESS) at Ulsan Complex (Ulsan CLX), SK’s main production center. An ESS captures energy produced at periods when energy consumption is low for use at a later time when energy [...]
SEOUL, July 6 (Korea Bizwire) – The South Korean Government is supporting investment in energy storage systems (ESS), with plans to double the supply this year amid growing concerns over a possible shortage of electric power caused by the temporary shutdown of aging nuclear power plants in the country. According to data released by the Ministry [...]
SEJONG, Sept. 19 (Korea Bizwire) – The South Korean government will provide incentives to encourage solar power plant operators to set up bulk energy storage facilities as part of its efforts to foster the local renewable energy market, the trade ministry here said Monday. Those who install the energy storage system (ESS) at their solar [...]
SEOUL, July 6 (Korea Bizwire) — South Korea’s LG Chem and Samsung SDI have outpaced global rivals in terms of strategy and execution in the energy storage system (ESS) battery industry, a report showed Monday. LG Chem led the corporate assessment in the ESS segment with a total score of 84, trailed by Samsung SDI with 83.5, [...]