SEOUL, Dec. 5 (Korea Bizwire) – Diesel cars that were once fancied by consumers for their higher fuel efficiency are losing ground in Korea, mainly from the global emissions scandal in addition to the government imposing stricter diesel car regulations, labeling them as one of the main sources of fine dust. According to the Ministry [...]
SEOUL, Sept. 22 (Korea Bizwire) – Gas stations are closing down in greater numbers and at a quickened pace from a profit squeeze in a market that has become too competitive, industry officials said Thursday. People had jumped into the filler station business that until a few years ago was highly lucrative. The market entry [...]
SEOUL, July 14 (Korea Bizwire) – South Korea’s diesel consumption hit a monthly record in May, state statistics showed Thursday, an indication that diesel-powered cars are still dominant over electric and hybrid vehicles. According to an informational website operated by state-run Korea National Oil Corp. (KNOC), South Korea consumed a record 14.31 million barrels of [...]
DAEGU, June 22 (Korea Bizwire) – Oil theft in Korea is becoming more elaborate and highly organized. Two Korean males, referred to only as Lee (50) and Kim (57), were sentenced to four and three years in prison, respectively, for robbery and violation of the oil pipeline maintenance law. Song (56), who also took part [...]
SEOUL, Oct. 19 (Korea Bizwire) – South Korea’s bourse operator said Sunday that kerosene will be traded on its spot market later this month tofurther expand the country’s commodity spot trading market. Starting Oct. 26, kerosene will begin trading from 10 a.m. to 5 p.m. through the system, with the basic trading unit set at 20,000 liters, according to the Korea Exchange (KRX). Kerosene, or lamp oil, [...]
SEOUL, March 16 (Korea Bizwire) – When you fill up your car at a gas station, you can easily smell the gasoline. However, the smell of the oil mist includes toxic materials, and they can severely damage the air quality in the surrounding neighborhood. To reduce air pollution resulting from daily activities such as filling [...]