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SK Materials to set up joint venture with Group14

SK Materials headquarters in Yeongju, North Gyeongsang Province / Courtesy of SK Materials By Kim Hyun-bin SK Materials decided to establish a joint venture with Group14 Technologies, a global provider of silicon-carbon composite materials for lithium-ion markets, Tuesday. The agreement…

Gov’t goes all out to ensure stable power supply amid heat wave

gettyimagesbank South Korea is making concerted efforts to ensure a stable supply of electricity as the country’s power reserves are feared to plumb their lowest level this week amid a heat wave, officials said Tuesday. The country remains gripped by…

LNG power generation poses dilemma for Korea’s energy policy

gettyimagesbank By Kim Bo-eunThe Moon Jae-in administration has been moving toward phasing out coal-fired power generation and nuclear power plants.As the transition takes place to renewable energy, the government has made liquefied natural gas (LNG) an important source of power…

Korean, Australian trade ministers’ meeting

Trade Minister Yoo Myung-hee bumps elbows with her Australian counterpart Dan Tehan, ahead of their meeting at the Four Seasons Hotel Seoul, Monday. The two ministers agreed on stronger cooperation for investments into and development of mineral resources including rare…

Nikkei and FT to open Houston bureau, strengthening energy coverage

TOKYO — Nikkei Inc. on Monday announced that together with the Financial Times it will open a bureau in the U.S. city of Houston in October. The bureau will strengthen Nikkei’s coverage of the energy industry, which is heavily concentrated…

POSCO, Doosan to develop ammonia power-generation technology

POSCO’s Hydrogen Business Office Head Cho Ju-ik, first from right, discusses with Doosan Heavy Industries Managing Director Lee Kwang-yol, second from left, ways to co-develop ammonia fuel power generation technology. Courtesy of POSCO By Kim Bo-eun POSCO is seeking to…

SK Global Chemical transforming into global recycling firm

SK Global Chemical CEO Na Kyung-soo presents the company’s business strategy in this provided photo. Courtesy of SK Global Chemical By Kim Bo-eun SK Global Chemical is making a transformation from Korea’s first petrochemical company into a global recycling firm.…

Japan aims for nearly 40% renewable energy by fiscal 2030

TOKYO — The Japanese government looks to have renewable energy generate almost 40% of the country’s power in fiscal 2030 in the latest version of its electricity mix targets, bringing zero-emissions sources as high as 60% of the total. Renewables…

Fears growing over possible blackout amid scorching weather

Shoppers look at air conditioners on display in an appliance store in Yongsan District in central Seoul, Thursday. Yonhap Country may log hottest summer on record By Yi Whan-woo Korea is at risk of power shortages as the extreme summer…

Thai oil major PTT takes $453m stake in Indian solar power company

BANGKOK — Global Power Synergy Public Company (GPSC), the power-generation arm of Thai oil and gas conglomerate PTT, has purchased a 41.6% stake in Indian renewable power producer Avaada Energy for 14.8 billion baht ($453 million). Auttapol Rerkpiboon, PTT’s president…

LG Innotek cuts greenhouse gas emissions by 45,000 tons

LG Innotek employees pose with printed and electronic versions of “2020-2021 LG Innotek Sustainability Report” that addresses the firm’s efforts to abide by environment, social and corporate governance (ESG) principles. The report showed the firm reducing greenhouse gas emissions by…

Bangladesh scraps plans for 10 coal-fired power plants

DHAKA — In a major policy shift, Bangladesh has decided to scrap 10 proposed coal-fired power plants due to criticism from environmentalists and problems finding funds, raising concerns over the country’s energy mix and relations with foreign investors. Two of…

POSCO Chemical to build 60,000-ton-capacity cathode plant

POSCO Chemical, North Gyeongsang Province and Pohang City sign an investment agreement for a cathode plant. From second to left, POSCO Chemical CEO Min Kyung-joon, North Gyeongsang Province Governor Lee Cheol-woo and Pohang Mayor Lee Kang-deok and other local government…

Norway's Yara looks to supply zero-CO2 'green ammonia' to Japan

TOKYO — Norway’s Yara International, one of the world’s largest fertilizer companies, looks to produce ammonia using renewable energy in Australia as Japan plans to use the chemical as an alternative to coal, CEO Svein Tore Holsether revealed in a…

Reliance and Adani lead India's clean energy investment rush

NEW DELHI — All eyes have turned to India’s renewable energy sector, where billionaire Mukesh Ambani has laid out ambitious multibillion dollar investment plans, at a time when fellow tycoon Gautam Adani is already going strong. In a mega push…

Thai miner Banpu ends new coal development in green shift: CEO

BANGKOK — Thailand’s biggest coal producer, Banpu, will no longer start any new coal developments as the company pivots toward green energy, company CEO Somruedee Chaimongkol said in an interview. “We will only produce from our organic reserve that we…

Korea, EU agree to cooperate on climate change response

Trade, Industry and Energy Minister Moon Sung-wook, left, and Frans Timmermans, European Commission executive vice-president for the European Green Deal By Baek Byung-yeul Korea and the European Union have been discussing ways to cooperate in climate change issues as part…

Kumho Petrochemical undergoes third-generation succession

By Kim Hyun-bin Kumho Petrochemical may be starting to undergo a generational succession after Group Chairman Park Chan-koo stepped down from his positions as CEO and board member of the group’s core affiliate. Industry watchers believe a succession is starting…

Taiwan nuclear plant closure tests Tsai's energy transition

TAIPEI — Taiwan’s Kuosheng Nuclear Power Plant 2 reactor 1 shut down last week, six months before its scheduled retirement on Dec. 27 due to spent fuel-storage capacity constraints that prevent it from being refueled. The closure of the reactor…

Suez Canal settlement reached to release seized ship

ISMAILIA, Egypt (Reuters) — The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said on Sunday a formal settlement had been agreed in a compensation dispute, and the canal authority said the…

Xinjiang labor clouds solar sector as panel prices swell

TOKYO — China’s alleged abuses against Uyghur Muslims in Xinjiang are now casting a shadow over the solar industry, as human-rights-conscious countries shy away from a region that is one of the world’s biggest sources of silicon. The price of…

China's new pipeline network shakes up its natural gas dynamics

China’s recent love affair with natural gas is taking a new twist, following last year’s creation of a national pipeline network. The shift in recent months has been shaking China’s three energy majors, China National Petroleum Corp. (CNPC), China Petrochemical…

Japan set to cede LNG import crown to China

TOKYO — China is on track to overtake Japan as the world’s largest buyer of liquefied natural gas, yet another sign of Beijing’s economic ascendance and the relative decline of Tokyo’s standing. Chinese LNG imports are projected at 75.5 million…

BHP dumps Colombian coal mine in carbon exit drive

SYDNEY — Australian mining heavyweight BHP Group has decided to divest a $294 million stake in a Colombian thermal coal project in response to criticism from environmentalists. BHP will transfer the entirety of its 33.3% interest in the Cerrejon coal…

S-Oil wins best affiliate award from Saudi Aramco

S-Oil’s Representative Director and CEO Hussain Al-Qahtani, third from left, poses with the company’s management after winning an award given by its parent company Saudi Aramco, in this photo provided by the oil refiner, Thursday. S-Oil said it won the…

GS Caltex makes first Korean purchase of carbon-neutral crude oil

GS Caltex CEO Hur Sae-hong By Lee Kyung-min GS Caltex has purchased 2 million barrels of carbon-neutral crude oil in a bid to take the lead in fulfilling Environmental, Social and Governance (ESG) criteria here.The Korean refiner said Thursday that…

LG Energy completes battery supply to world’s largest ESS project

ESS batteries of LG Energy / Yonhap South Korean battery maker LG Energy Solution said Thursday it has completed the supply of its battery system to the world’s largest energy storage system (ESS) that has come online in the United…

Korea seeks to win Czech nuclear power plant deal

Trade, Industry and Energy Minister Moon Sung-wook, second from right, poses with Czech Prime Minister Andrej Babis, second from left, and Minister of Industry and Trade Karel Havlicek, right, at the prime minister’s office, June 18, during his visit to…

Surging oil prices hit Korea’s petrochemical, airline, shipping industries

Gettyimagesbank Crude oil prices reach highest levels in two years By Yi Whan-woo Global oil prices have soared to their highest levels in more than two years, dealing a blow to Korea’s petrochemical, airline, marine shipping and other industries sensitive…

KEPCO maintains electricity rate in Q3 amid pandemic

gettyimagesbank South Korea’s state-run energy firm on Monday said it has decided to retain the electricity rate in the third quarter of 2021, in a bid to ease the financial burden on local households amid the pandemic and rising inflation.…

Hyosung breaks ground for world’s largest liquid hydrogen plant

Hyosung Group Chairman Cho Hyun-joon, fourth from left, poses with Linde Korea Chairman Sung Baek-seok, third from left, and other dignitaries during the groundbreaking ceremony of a liquid hydrogen manufacturing plant in Ulsan, Monday. The plant will be constructed and…

LG International to be renamed LX International

Major South Korean trading firm LG International decided Friday to rename itself LX International in an effort to show its will to be reborn as a more competitive entity. The name change, the first in 26 years and decided at…

Korean refiners turn to hydrogen in search of next ‘oil’

A hydrogen gas refilling station in Suwon, Gyeonggi Province / Korea Times file South Korean refiners are jacking up investment in the burgeoning hydrogen market to secure their place in a world shifting away from fossil fuels, and to get…

Hanwha to develop storable bipropellant thrusters

Hanwha employees enters the headquarter building in Seoul. Korea Times file By Kim Hyun-bin Hanwha is speeding up efforts to become a leading player in the space sector with Hanwha Group Chairman Kim Seung-youn’s eldest son, Hanwha Solutions President Kim…

China debuts biggest hydroelectric dam since Three Gorges

CHONGQING — China’s giant Baihetan hydroelectric dam, the second-largest in the country, began generating electricity on Monday, in a boost to Beijing’s push toward a carbon-neutral society. The Baihetan hydropower station, which feeds off the Jinsha River in southwestern China,…

Hanwha to develop storable bipropellant thrusters

Hanwha employees enters the headquarter building in Seoul. Korea Times file By Kim Hyun-bin Hanwha is speeding up efforts to become a leading player in the space sector with Hanwha Group Chairman Kim Seung-youn’s eldest son Hanwha Solutions President Kim…

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