SEOUL, May 2 (Korea Bizwire) – The latest data from the Korea Energy Agency has revealed that new and renewable energy sources accounted for 6.61 percent of total electricity generation in South Korea in 2015, up from 4.92 percent in 2014 and surpassing 5 percent for the first time. The improvement was largely attributed to [...]
SEOUL, April 26 (Korea Bizwire) – The South Korean government is continuing its efforts to encourage the use and trade of renewable energy including solar and wind power. A new initiative spearheaded by the Ministry of Trade, Industry and Energy (MOTIE) to install solar panels on the rooftops of around 2,500 schools by 2020 was revealed [...]
SEOUL, Apr. 24 (Korea Bizwire) — South Korea’s leading presidential candidate Moon Jae-in on Saturday unveiled a set of energy policy pledges that include reducing coal-fired power plants and nuclear reactors in the country, while expanding renewable energies. Moon’s camp said there will be no more construction of nuclear reactors and coal-fired power plants. The [...]
POHANG, Feb. 15 (Korea Bizwire) – Electricity generated from geothermal energy will soon be distributed to South Korean households for the first time in history. The electricity will come from Pohang, a city on the southeast coast of the Korean Peninsula, which has been making use of geothermal energy some four kilometers below the surface [...]
DAEJEON, Jan. 23 (Korea Bizwire) – A team of scientists from Changwon National University has developed an eco-friendly copper catalyst that can efficiently produce hydrogen from waste material like plastic and vinyl. According to the researchers, there has been active research on gasifying plastic and vinyl using higher temperatures to develop hydrogen. Although this is [...]
DAEGU, Jan. 12 (Korea Bizwire) – Yoo Won-ki, 48, is the CEO of Haeyang Energy, a small company that he launched in January of last year. Pinning his hopes on one novel idea, he developed a tidal stream generator, filed for a patent in May, and received approval from the Korea Intellectual Property Office last [...]
SEJONG, Dec. 6 (Korea Bizwire) – South Korea unveiled a set of measures on Tuesday to promote renewable energy usage and expand research and development in order to meet the long-term target of reducing greenhouse gas emissions by 37 percent. The plan, approved by the Cabinet chaired by Prime Minister Hwang Kyo-ahn, is aimed at [...]
SEOUL, Nov. 30 (Korea Bizwire) – In an effort to promote new and renewable energy, and stabilize fluctuating prices, the government has decided to institute “20-year fixed-price contracts” that will better guarantee business profits as well as attract more investment in the sector. According to the Ministry of Trade, Industry & Energy, the government will [...]
JINCHEON, South Korea, Nov. 22 (Korea Bizwire) – Another eco-friendly energy town has been established in South Korea, this time in Jincheon County, North Chungcheong Province. The Korean government has been investing in areas near incineration plants and human waste disposal facilities shunned by the general public to transform municipalities into environmentally-friendly energy towns. Such [...]
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 [...]