SEOUL, Sept. 23 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) said Monday it plans to freeze electricity rates for the fourth quarter. KEPCO said it will keep the adjusted unit fuel cost — a key part of the country’s electricity rates — unchanged at 5 won (US$0.003) per kilowatt-hour for the October-December [...]
SEOUL, Sept. 19 (Korea Bizwire) — The peak electricity demand jumped 30 percent on-year during the Chuseok holiday, data showed Thursday, in the latest evidence that autumn heat has gripped the nation. The country’s average maximum power demand reached 70.3 gigawatts from Monday to Wednesday, compared with 54.4 gigawatts recorded during the previous year’s Chuseok, [...]
SEOUL, Sept. 19 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-biggest refiner by sales, said Thursday it has exported sustainable aviation fuel (SAF) to a Japanese trading company. Last week, GS Caltex supplied 5,000 kiloliters of SAF to Itochu Corp., which has delivered the environment-friendly fuel to Narita International Airport, the company said in [...]
SEOUL, Sept. 19 (Korea Bizwire) – Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Thursday it has received a 90 billion-won (US$68 million) high-voltage cable order in the United States. Taihan Cable has obtained the deal from LS Power Grid California to supply 320 kilovolt and 500kV high-voltage direct current transmission systems [...]
SEOUL, Sept. 18 (Korea Bizwire) – As the global electric vehicle (EV) market navigates through a temporary dip in demand, South Korean automakers and financial institutions are introducing innovative products to spark consumer interest. These offerings, centered around guaranteeing the residual value of EV batteries, are reshaping the future of EV ownership. At the heart of [...]
SEOUL, Sept.16 (Korea Bizwire) – As Hyundai Motor Company recently announced plans to mass-produce extended-range electric vehicles (EREVs), the battery industry is closely watching the potential impact of this emerging technology. While the market viability of EREVs remains to be fully proven, there’s growing optimism that the expansion of this sector could provide a much-needed boost [...]
DAEJEON, Sept. 12 (Korea Bizwire) – The Korea Institute of Energy Research (KIER) has announced a breakthrough in urban electrification technology, leveraging artificial intelligence to stabilize renewable energy grids in cities. The development, announced on September 11, marks a significant step towards sustainable urban environments and carbon neutrality. Urban electrification, the process of transitioning city energy [...]
SEOUL, Sept. 12 (Korea Bizwire) — The Nuclear Safety and Security Commission (NSSC) on Thursday granted a construction permit for two new nuclear reactors on the east coast of South Korea, eight years after the application was submitted. At its regular meeting, the NSSC approved proposals from Korea Hydro & Nuclear Power Co. to build [...]
BUSAN, Sept. 10 (Korea Bizwire) — An electric bike caught fire while being charged at a convention center in the southeastern port city of Busan, but sprinklers helped put out the flames, officials said Tuesday. The blaze occurred at 10:15 p.m. Monday at an underground parking lot at Bexco, an exhibition and convention center in [...]
SEOUL, Sept. 10 (Korea Bizwire) – In a move to address growing safety concerns and maintain customer loyalty, Mercedes-Benz Korea announced on September 9 that it plans to distribute charging vouchers worth 300,000 won to owners of its electric vehicles. Mathias Vaitl, president of Mercedes-Benz Korea, communicated this decision in an email titled “A Message of [...]