Economy

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  Canada's Northland joins hands with LS Cable to cooperate in offshore wind farm projects SEOUL -- Northland Power, a power producer in Canada, teamed up with LS Cable & System to cooperate in offshore wind farm projects. The South Korean company has expanded production facilities to respond more effectively to the rapidly growing offshore wind power market. The two companies decided to cooperate for EPC (engineering, procurement, and construction) projects related to offshore wind power generation. Northland, which develops, builds, owns and operates clean and gre 2021-11-03
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  Hyundai partners with Seoul University to develop next-generation EV batteries SEOUL -- Targeting the global electric vehicle market, which is projected to stand at $802 billion by 2027, South Korea's Hyundai auto group has forged a partnership with a domestic university to set up a research center that will develop cheaper and powerful next-generation batteries. The battery is a key component of electric vehicles because the total travel distance of a car mainly depends on the type and capacity of its pricey battery pack. While lithium-ion batteries are m 2021-11-03
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  LG Innotek's plant receives 100% Zero Waste to Landfill certification from UL SEOUL -- A plant operated by LG Innotek, the electrical component wing of South Korea's LG Group, has received the ZWTL (Zero Waste to Landfill) platinum grade from an American global safety certification company. The platinum grade is given to companies or plants that achieved a 100 percent recycling rate. LG Innotek said in a statement on November 2 that its plant located in the southern industrial city of Gumi received the platinum ZWTL certification from Underwriters Lab 2021-11-02
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  POSCO International signs product distribution contract with Petronas on gas exploration SEOUL -- POSCO International, a trading arm of South Korea's steel group, has signed a product distribution contract with Petronas, a Malaysian state oil and gas company, after working out detained conditions on the exploration of gas in waters off the east coast of the Malaysian Peninsula. Under a distribution contract, the contractor collects some of the crude oil and gas produced when the exploration is successful first for the purpose of recovering investment costs. POSCO 2021-11-01
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  SKC makes strategic investment in British firm with silicon anode technology SEOUL -- SKC, a chemical material unit of South Korea's SK Group, will embark on the production of silicon anodes for electric vehicle batteries by making a strategic investment in Nexeon, a British battery materials company with a unique silicon anode technology. The short-term goal is to acquire technology for the production of a composite anode material with low silicon content. SKC said in a statement on November 1 that its board approved investments in Nexeon through a cons 2021-11-01
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  Seoul to provide digital map of convenient facilities in riverside parks SEOUL -- For the convenience of visitors to riverside parks along Seoul's iconic Han River, the capital city will release a smart digital map service that can locate public toilets, small stores and other facilities. Seoul said that the smart digital map of 11 riverside parks will be released on November 1 through a smart map platform called "Smart Seoul Map." Visitors can access the map using PCs or smartphones and look for information about 218 facilities including b 2021-10-29
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  Doosan Heavy to demonstrate gas turbine powered by green hydrogen SEOUL -- Doosan Heavy Industries & Construction, a key player in South Korea's power industry, will work with a public power company to demonstrate a gas turbine powered by green hydrogen. Unlike blue hydrogen produced by applying carbon capture and storage to reduce CO2 emissions, green hydrogen can be produced through electrolysis, a process of passing an electrical current through an electrolyzer to split water and release only hydrogen and oxygen. Gas turbines have bec 2021-10-29
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  Seoul partners with logistics companies to accelerate adoption of clean energy vehicles SEOUL -- In a bid to reduce carbon emissions in logistics and food delivery, Seoul has partnered with logistics companies, electric bike retailers, and mobility service operators to accelerate the adoption of electric vehicles and electric motorcycles. The capital city aims to replace all fossil-fueled motorbikes and logistics trucks with electric or clean energy vehicles by 2025. Currently, there are about 30,000 food delivery workers using gasoline engine motorbikes and some 30,00 2021-10-29
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  (FOCUS) SKC promotes glass substrate as game-changer in semiconductor packaging SEOUL -- There is a growing need for glass as a carrier substrate in the packaging process of semiconductors as glass substrates for high-performance computing can increase the performance and power efficiency of computer chipsets. SKC, a chemical material unit of South Korea's SK Group, bets on glass-based substrates with a rosy outlook that it would be a game-changer. Glass substrates are future materials that are considered "a game-changer" in semiconductor packag 2021-10-29
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  KEPCO's IT service wing starts official service of 'sunlight map' for solar power plant SEOUL -- KEPCO KDN, the information technology service wing of South Korea's state power company, has launched a real-time artificial intelligence map service that can predict the generation capacity of solar power plants and help operators find an ideal location for their plants. The service has been demonstrated in limited areas. South Korea has more than 90,000 solar power plants with a total generation capacity of about 15 gigawatts as of July 2021. It is hard for operator 2021-10-28
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  Researchers develop unmanned technology to prevent falls in bridge construction SEOUL -- South Korea's state-funded research body has developed a remote unmanned construction technology that can prevent falls at bridge construction sites. The technology allows remote control robots to install girders and construct piers without putting human workers into high-place work. The bridge superstructure consists of the deck for roadway or walkway surface, concrete or steel supporting structure, and bearing pads that allow the superstructure to move somewhat inde 2021-10-28
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  SK Innovation ties up with Solid Power to develop high performance all-solid-state batteries SEOUL -- SK Innovation, the parent company of a major electric vehicle battery maker in South Korea, has forged a partnership with Solid Power to develop high-performance and commercially viable all-solid-state batteries. The South Korean company would invest $30 million to acquire a stake in the American producer of all-solid-state batteries, which are seen as a next-generation power source for electric vehicles. Solid electrolytes are nonflammable and more stable. Solid-state batt 2021-10-28
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  SKT joins Samsung's AI-based smart home appliance network SEOUL -- South Korea's top mobile carrier SK Telecom has linked its core services including "NUGU," an artificial intelligence-based voice assistant service, to Samsung Electronics' network of smart home appliances. Users can remotely control connected home appliances such as a washing machine or a digital wardrobe that steams and sanitizes clothes. Smart home networks based on internet of things (IoT) and WiFi technologies help people conveniently and remotely c 2021-10-28
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  LG Chem partners with Japan's Toray to establish separator joint venture in Hungary SEOUL -- LG Chem, the chemical unit of South Korea's LG Group, joined hands with its Japanese partner, Toray, to establish a joint venture in Hungary to produce separators for secondary batteries. The joint venture would help the two companies secure an opportunity to penetrate the fast-growing European electronic vehicle market. The joint venture will be equally owned by LG Chem and Toray. LG Chem would acquire an additional 20 percent equity after 30 months to secure managem 2021-10-27
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  KEPCO opens test site for world's highest voltage direct current transmission cables SEOUL -- South Korea's state power company opened a new test site for the world's highest voltage direct current transmission cables that would be used for large-scale offshore wind power projects. The test site will also be used as an outpost for domestic cable manufacturers to enter the global market as it enables the easy and quick demonstration of cables in development. High-voltage direct current transmission (HVDC) is a next-generation electric power technology to conv 2021-10-27
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  Insulin pump maker EOFlow makes foray into China thru joint venture with Sinocare SEOUL -- EOFlow, a South Korean provider of wearable drug delivery solutions, secured a foothold for its entry into a market known for the largest diabetes population in the world through a joint venture with Changsha Sinocare, a major blood glucose monitoring system manufacturing company in China. The joint venture named "Sinoflow" will manufacture and distribute EOPatch and its future products in China. EOPatch, the world’s second tubeless, wearable, and disposab 2021-10-27
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  Cosmetics maker Tonymoly releases vegan skincare product using label-free recyclable bottles SEOUL -- South Korea's cosmetics maker Tonymoly joined the ranks of companies to use eco-friendly materials by releasing a vegan skincare product packaged inside a label-free recyclable plastic bottle to increase convenience in disposing of used bottles for recycling and meet the taste of MZers who have high environmental awareness. Tonymoly released "Wonder Vegan Label Ceramide Mochi Calming Toner," a skin toner product made with plant-based materials, on October 27 2021-10-27
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  World's largest hydrogen fuel cell power plant put into service in S. Korea SEOUL -- The world's largest hydrogen fuel cell power plant capable of providing electricity to some 250,000 households per year was put into operation in South Korea's western port city of Incheon. The 78.96 megawatt-class power plant underlines efforts to accelerate the introduction of clean energy sources. Hydrogen fuel cells are getting popular as solutions for eco-friendly power plants because they can generate electricity without producing harmful emissions. A ribbon 2021-10-26
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  S. Korea approves sales of battery-powered face masks thru enactment of safety standards SEOUL -- South Korea has announced the enactment of preliminary safety standards for battery-powered electric face masks to enable domestic sales of portable respirators that have a set of fans to suck in and blow out air through high-performance filters. People wearing electric masks can avoid situations in which eyeglasses get fogged up by respiratory gas exiting face masks during cold seasons. South Korea's electronics maker LG Electronics released "LG PuriCare Wearable 2021-10-26
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  LGES formalizes entry into low-cost EV batteries dominated by Chinese rivals SEOUL -- In a bid to gain a competitive edge in a battery war especially with Chinese rivals, South Korean companies led by LG Energy Solution are finally working on the commercial production of low-cost electric vehicle batteries. It's not a skill but a matter of will and choice as South Korea's battery industry has accumulated sufficient technology. South Korean battery makers have tried to produce efficient and high-end batteries, such as NCM that contains nickel, cobal 2021-10-26