SEOUL, Sept. 6 (Korea Bizwire) – The government said Friday it will conduct prior safety checks on electric vehicle (EV) batteries and require EV makers to disclose their battery brands to address public concerns about spontaneous fires in EVs. The plan was finalized during a government meeting led by Prime Minister Han Duck-soo as part [...]
SEOUL, Sept. 6 (Korea Bizwire) – Carmakers and battery manufacturers in South Korea on Friday expressed their commitment to cooperate with a newly announced set of government measures aimed at preventing spontaneous fires in electric vehicles. Under the plan announced earlier in the day, the government’s EV battery certification system that was scheduled to go [...]
SEOUL, Sept. 6 (Korea Bizwire) — The state-run Korea Hydro & Nuclear Power (KHNP) plans to invest US$40 million in TerraPower LLC, a U.S. small-sized nuclear reactor company founded by Bill Gates, an industry source said Friday. If formally approved by KHNP’s board, it will mark the first investment by a state-run energy firm into [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s biggest coal mine, Jangseong Coal Mine, formally closed Friday, 88 years after it opened, as coal output declined with the nation shifting toward greener energy sources. The anthracite coal mine in Taebaek, some 180 kilometers east of Seoul, began operations in 1936 during Japan’s colonial rule of [...]
SEOUL, Sept. 5 (Korea Bizwire) — Foreign Minister Cho Tae-yul has said South Korea’s nuclear power plant deal with the Czech Republic will be a “prime opportunity” for the two countries’ relations to advance to a new level, his office said Thursday. Cho made the remark during a meeting with Czech National Security Adviser Tomas [...]
SEOUL, Sept. 4 (Korea Bizwire) – Mercedes-Benz is facing scrutiny in South Korea as vehicle owners have filed complaints with the Korea Consumer Agency, alleging that the company provided incorrect information about the battery manufacturer in some of its electric vehicles. According to industry sources, the Korea Consumer Agency is currently reviewing the facts surrounding the [...]
SEJONG, Sept. 3 (Korea Bizwire) – POSCO International, a major South Korean trading firm, said Tuesday it has inked an agreement to purchase shares in an Australian mining firm for US$40 million to secure a supply of graphite from a Tanzanian mine. POSCO International signed the agreement with Black Rock Mining Ltd. which will bring [...]
SEOUL, Sept. 2 (Korea Bizwire) – In a move that blends environmental consciousness with consumer engagement, Kakao, the South Korean internet giant, announced on September 2 a collaborative effort with Nespresso to breathe new life into used coffee capsules. The initiative, dubbed the Coffee Capsule Upcycling Encore Project, is set to run through Kakao Makers, [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s average daily maximum power demand reached a new high in August as the country experienced scorching summer heat that persisted throughout the month, data showed Monday. The country’s peak power demand in August averaged 87.8 gigawatts, a 6.1 percent increase from a year earlier, according to the [...]
SEOUL, Aug. 31 (Korea Bizwire) – In a bold move to boost the circular economy for plastics, Korea Social Investment Foundation (KSI), a public interest corporation and impact investor, has announced a 400 million won interest-free loan program for startups specializing in innovative technologies and solutions for recycling transparent PET bottles. The initiative, revealed on August [...]