POHANG, March 14 (Korea Bizwire) — A fire fueled by underground natural gas, a rare resource in South Korea, has been burning for six straight years in the southeastern city of Pohang. In March 2017, a construction company drilled a tube well 200 meters underground to develop underground water in a Pohang park. During the [...]
SEOUL, Sept. 30 (Korea Bizwire) — South Korea will raise natural gas prices for civilian use next month amid high international gas prices, the industry ministry said Friday. Starting in October, natural gas prices for households and commercial use will be hiked by 2.7 won (US$0.002) per megajoule, the ministry said in a press release. [...]
SEOUL, Sept. 25 (Korea Bizwire) — POSCO International Corp., the commodity trading unit of South Korean steel giant POSCO Holdings Co., said Sunday it is investing a combined 280 billion won (US$198.2 million) to triple its natural gas production in the next three years. The funding will be provided to Senex, a subsidiary co-owned by [...]
SEOUL, April 28 (Korea Bizwire) — South Korea plans to send part of its liquefied natural gas (LNG) supplies to Europe to help ease an energy crisis over Russia’s invasion of Ukraine, officials said Thursday. Concerns have grown over natural gas supply disruptions in Europe amid the ongoing crisis surrounding Ukraine, as Russia is the [...]
SEOUL, April 22 (Korea Bizwire) — South Korea’s state-run gas importer said Friday it has signed a contract to import 1.58 million tons of U.S.-produced liquefied natural gas (LNG) from the British oil company BP Plc annually. Under the contract, KOGAS will import the LNG, beginning in 2025, for 18 years. The LNG, which will [...]
TORONTO, Mar. 26 (Korea Bizwire) — Romet Limited was honored for a second consecutive year with Canada’s Best Managed Companies designation, a respected and leading business awards program, recognizing excellence in private Canadian-owned companies. Each year, hundred’s of entrepreneurial companies undergo a rigorous application process, but only the best are awarded with this prestigious designation. [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korean business leaders said Tuesday they have asked Australia to reconsider its plans to restrict natural gas exports, concerned that the measure will affect access to the energy resource. The Federation of Korean Industries (FKI) said it made the request at the Australia-Korea Business Council (AKBC) meeting held [...]
POHANG, Aug. 26 (Korea Bizwire) — For the past five months, a fire has burned day and night in the heart of Pohang. Which is why the city announced on August 24 that it has begun the construction of a ring of fire-resistant glass and a platform around the fire in order to turn it [...]
SEOUL, May 31 (Korea Bizwire) – The South Korean government is ramping up its efforts to tackle the problem of air pollution by subsidizing natural gas-powered buses for transport operators. In a cabinet meeting held yesterday, Deputy Prime Minister and Minister of Finance and Strategy Yoo Il-ho reviewed and took a vote on a new reform [...]
SEOUL, Nov. 21 (Korea Bizwire) – The increase of single-person households in Korea has brought about another change in household consumption – the declining use of natural gas (liquefied natural gas). According to the Korea City Gas Association and other industry sources, although the number of households in Korea increased from 10.95 million in 2005 [...]