SEOUL, Sept. 12 (Korea Bizwire) — South Korea will draw up a comprehensive road map on developing the hydrogen industry by the end of the year to foster the emerging sector and reduce air pollutants, the industry ministry said Wednesday. The Ministry of Trade, Industry and Energy said it will set policy goals for hydrogen [...]
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 [...]
SEOUL, Jul. 16 (Korea Bizwire) – The volume of electricity generated from renewable energy jumped more than 20 percent on-year in 2017 to touch a record high, industry data showed Monday. Asia’s fourth-largest economy saw the trading value of power generated from renewable energy come to 2.05 trillion won (US$1.82 billion) last year, up 20.1 [...]
SEOUL, Jul. 10 (Korea Bizwire) — The state-run Korea Power Electric Corp. (KEPCO) said Tuesday it will beef up technology cooperation with India’s state-run power company for renewable energy projects as it strives to make inroads into the vast market. KEPCO signed a memorandum of cooperation with Power Grid Corporation of India Ltd.(PGCIL) during a [...]
SEOUL, Jun. 29 (Korea Bizwire) — Doosan Heavy Industries & Construction Co. revealed yesterday that it will be spearheading a state power project to develop an 8-megawatt offshore wind farm. The project, which is estimated to be worth 55 billion won, will be executed over a period of approximately 48 months as part of a [...]
SEOUL, Jun. 15 (Korea Bizwire) — Samsung Electronics revealed yesterday that it will be installing solar power generators at all of its business facilities in the U.S., Europe and China. In Korea, some but not all facilities will be equipped with solar power generating systems. To kick off the initiative, Samsung will install solar panels [...]
SEOUL, May 18 (Korea Bizwire) — South Korea will raise incentives for offshore wind farm operators and cut back subsidies on biomass producers to promote more eco-friendly energy sources, the energy ministry said Friday. The Ministry of Trade, Industry and Energy said it will adjust the incentive rates for renewable energy sources based on their [...]
SEOUL, Mar. 29 (Korea Bizwire) — Larger buildings scheduled to be built in Seoul from July will be required to offset energy consumption with renewable energy sources including solar energy. Under the new renewable energy quota, buildings larger than 100,000 square meters in total floor area will have to rely on renewable energy for at least [...]
DUBAI, March 27 (Korea Bizwire) — President Moon Jae-in called for increased business cooperation, especially in renewable energy, between South Korea and the United Arab Emirates (UAE) on Tuesday. Moon made the call during a business forum in Dubai attended by some 200 business people from both countries. “I propose we take another step forward,” Moon said. “I wish the two countries will join forces not only to expand investment in renewable [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korea will build more solar and wind farms nationwide to nearly triple its renewable energy ratio by 2030, a project estimated at 110 trillion won (US$101 billion), the energy ministry said Wednesday. The Ministry of Trade, Industry and Energy announced the detailed plans for its new energy road [...]