SEJONG, March 31 (Korea Bizwire) – South Korea’s industrial output jumped at the fastest pace in nearly four years in February, government data showed Friday. Production in the mining, manufacturing, gas and electricity industries moved up 6.6 percent last month from a year earlier, marking the highest on-year gain since January 2013, when it posted [...]
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, Jan. 2 (Korea Bizwire) – LG Chem Ltd., South Korea’s top chemicals firm, will focus on the energy and bio sectors this year as part of an effort to diversify its business portfolio and secure new growth engines, its head said Monday. In a New Year message to its employees, Park Jin-soo, vice chairman [...]
SEOUL, Dec. 8 (Korea Bizwire) – South Korea said Thursday that it will gradually complete initial public offerings (IPOs) for eight public energy companies by 2020 to help improve their financial status. The eight firms are Korea South-East Power Co., Korea Southern Power Co., Korea East-West Power Co., Korea Western Power Co., Korea Midland Power [...]
SEJONG, Nov. 1 (Korea Bizwire) – South Korean companies will participate in Oman’s large-scale energy and infrastructure projects totaling approximately US$27.1 billion, the trade ministry said Tuesday. The two countries came to an agreement at their economic cooperation committee meeting, according to ministry officials. The committee has been meeting every other year since 2009, this [...]
SEOUL, Sept. 29 (Korea Bizwire) – South Korea will double its investment in renewable energy technology as the country seeks to harness its climate change policy as a new economic growth driver, a senior diplomat said Thursday. “With recent low oil prices, the global energy market appears relatively stable, but actually it is in a [...]
SEJONG, Sept. 23 (Korea Bizwire) – South Korea will map out a comprehensive plan to strengthen the safety measures of the country’s energy facilities by the end of this year following last week’s strongest earthquake that jolted the nation, the ministry here said Friday. An advisory committee comprised of experts from various fields, including geology [...]
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, Sept. 5 (Korea Bizwire) – South Korea’s exports of clean, renewable energy products have sharply increased from a year earlier in the first seven months of the year, the trade ministry said Monday, indicating improving competitiveness of South Korean products. Outbound shipments of solar panels and other related equipment came to US$2.01 billion in [...]
ULSAN, South Korea, Aug. 29 (Korea Bizwire) – UNIST (Ulsan National Institute of Science and Technology) has the perfect solution for an unwanted problem with its sewage-to-currency technology. The technology is currently being exported to China. The institute recently announced that it signed a business agreement with Chinese firm Xi Jia International Trade Co., Ltd. for [...]