SEJONG, Oct. 14 (Korea Bizwire) — The chief of the state-run Korea Electric Power Corp. (KEPCO) on Monday emphasized the importance of raising electricity bills to maintain investment in essential infrastructure and ensure the sustainability of the sector’s ecosystem. “We need to bolster the power grid on time to support the innovative growth of the [...]
SEOUL, Oct. 10 (Korea Bizwire) – A group of 24 Mercedes-Benz electric vehicle owners, including the owner of an EQE model that caught fire in an underground parking lot in Incheon last August, have filed a class-action lawsuit against the German automaker and its affiliates. The lawsuit, announced on October 10 at a press conference in [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s peak electricity demand hit a new record in September, as the scorching summer heat extended into the autumn season, data showed Wednesday. The country’s peak power demand last month averaged 78 gigawatts, a 6 percent increase from a year earlier, according to the Korea Power Exchange, marking [...]
SEOUL, Oct. 7 (Korea Bizwire) – As the global electric vehicle (EV) market grapples with a drop in demand, South Korea’s battery industry is struggling to emerge from a prolonged slump. Increasingly, these companies are turning to U.S. tax incentives to bolster their financial performance. According to industry analysts, the three major South Korean battery manufacturers — [...]
SEOUL, Oct. 6 (Korea Bizwire) – The South Korean units of Mercedes-Benz Group AG and Volkswagen Group plan to provide information regarding the battery management system (BMS) of their electric vehicle (EV) models to the local transport safety authority, according to officials Sunday. According to a Korea Transportation Safety Authority (KTSA) report submitted to Rep. [...]
SEOUL, Oct. 4 (Korea Bizwire) — Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Friday it has won a 840 billion-won (US$630.2 million) high-voltage cable order from Singapore’s state power company. Taihan Cable said in a regulatory filing that it obtained the deal from SP PowerAssets Ltd. of Singapore to supply and [...]
SEOUL, Oct. 1 (Korea Bizwire) – In a significant breakthrough for electric vehicle safety, LG Chem, one of South Korea’s leading chemical companies, has announced the development of a new material that could potentially prevent battery fires by cutting off electrical flow when temperatures rise abnormally. The innovation, described as a “thermal runaway inhibiting [...]
SEOUL, Sept. 26 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automotive companies, said Thursday they have launched a joint project to develop cathode material technology for producing LFP (lithium iron phosphate) batteries for electric vehicles. The joint project, also involving Hyundai Steel Co. and Ecopro BM Co., aims to develop [...]
SEOUL, Sept. 25 (Korea Bizwire) – In a significant move to address electronic waste, South Korea’s Ministry of Environment announced on September 24 that it would broaden the scope of its recycling program to encompass a wider range of electronic devices, including Bluetooth earphones, clothes dryers, and electric scooters. The change, set to take effect in [...]
SEOUL, Sept. 25 (Korea Bizwire) — Preparations have been under way for the first exploratory drilling in December for potential oil and gas reserves off the nation’s East Sea, officials said Wednesday. Industry Minister Ahn Duk-geun hosted a meeting with related agencies in Seoul to review the progress of preparations for a project in the [...]