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 [...]
SEOUL, Sept. 27 (Korea Bizwire) – Hyundai Motor Co. said Friday it will partner with a state-run renewable energy developer to recycle its used car batteries into energy storage systems. In a pilot project that will run until 2021, Hyundai Motor and Korea Hydro & Nuclear Power Co. (KHNP) will operate an energy storage project [...]
SEOUL, Sept. 9 (Korea Bizwire) — Hyundai Motor Group, South Korea’s top automotive group, said Monday it plans to enter the renewable energy market along with local solar energy firm OCI Co. Under the memorandum of understanding (MOU), Hyundai Motor will install energy storage systems (ESS) at OCI’s solar power stations in South Korea and [...]
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 16 (Korea Bizwire) — Samsung SDI Co. said Thursday it launched high-capacity energy storage systems (ESS) to expand its presence in the global market amid weak domestic demand over safety issues. The battery-making unit of Samsung Electronics Co. said it showcased its latest ESS technologies at ees Europe 2019, the world’s largest ESS [...]
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. 28 (Korea Bizwire) — Used batteries from electric buses operating in Seoul’s Mt. Nam area will be recycled into Energy Storage Systems (ESS) for the Seoul Energy Dream Center. ESS are used to store large amounts of energy for future use. The Seoul Metropolitan Government will hold a dedication ceremony for a hybrid [...]
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, Jul. 18 (Korea Bizwire) – The use of energy storage systems (ESS) to better manage energy increased significantly in the first half of the year, according to the Ministry of Trade, Industry and Energy (MOTIE). The use of ESS, which store energy during hours when much electricity supply exceeds demand, increased 20-fold compared to [...]