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S. Korea's first floating wind turbine to be installed next year
SEOUL -- South Korea's first floating wind turbine will be installed off the southeastern port city of Ulsan for a test operation in the first half of next year in line with a government campaign to step up the use of wind, solar and other types of renewable energy. Ulsan proposed a 16 billion won ($14.3 million) pilot project to build an 80-meter-long floating structure with a capacity of 750 kilowatts that would involve the Unversity of Ulsan, Seho
August 2, 2018
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Doosan and POSCO win $3.09 bln order to build eco-friendly thermal plant
SEOUL -- A consortium of Doosan Heavy Industries & Construction and POSCO Engineering & Construction secured a deal worth 3.5 trillion won ($3.09 billion) to build a set of South Korea's biggest eco-friendly thermal power plants in the eastern port city of Samcheok. The two companies said Wednesday they have signed a contract with POSPower, a unit of South Korea's Posco steel group, to build a 1,050MW plant by October 2023 and the second one by April
July 25, 2018
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N.Korean official discusses energy cooperation with China: Yonhap
BEIJING -- North Korea's top external economic policymaker held in-depth discussions with China on expanding cooperation in the energy sector this week, sources said Tuesday. Ku Bon-tae, vice minister of external economic affairs, arrived in Beijing on Monday and held a series of meetings with China's officials in charges of economy and trade policies and business executives, according to the sources. Before Ku's arrival, the North Korean Embassy had contact with
July 3, 2018
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S. Korean government pledges full support to win Saudi nuclear contract
SEOUL -- South Korea's trade and energy minister pledged full government support Monday for the producer of home-made reactors after Saudi Arabia selected five countries as preferred bidders for a multi-billion-dollar project to build nuclear power plants. A South Korean consortium, led by Korea Electric Power Corp. (KEPCO) which produces reactors, was among five preferred bidders selected for a Saudi contract. As the world's biggest crude exporter, the Middle East cou
July 2, 2018
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Doosan selected to lead development of 8 MW offshore wind power system
SEOUL -- Doosan Heavy Industries & Construction, a leading power equipment maker, will lead South Korea's state project to develop a highly efficient offshore wind power system capable of producing eight megawatts of electricity under extreme weather conditions. The project, supervised by the state-run Korea Institue of Energy Technology Evaluation and Planning (KETEP), will cost about 55 billion won ($49 million) for about 48
June 28, 2018
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Hyundai Motor forges ESS partnership with Wärtsilä of Finland
SEOUL -- South Korea's Hyundai auto group announced a strategic partnership with Wärtsilä of Finland Tuesday to accelerate the development and commercialization of a new energy storage system (ESS) that recycles electric car batteries. The two companies will jointly promote the development of ESS products while Hyundai will collect electric car batteries and convert them into ESS. Wärtsilä manufactures and services power sources and other equipme
June 26, 2018
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Renewable energy supply more than doubles in S. Korea
SEOUL -- Helped by active government supports and investments, renewable energy is more widely used than before in South Korea. Government data showed renewable energy supply more than doubled to 1185.5 megawatts in the first half of the year from 469.2 megawatts a year ago. Meanwhile, the utilization rate of nuclear power plants fell from 75.2 percent in the first quarter of last year to an average of 56 percent this year due to some nuclear reactors being tempor
June 18, 2018
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Nuclear power plant operator agrees to shut down old reactor
SEOUL -- Bowing to President Moon Jae-in's campaign to replace fossil-fueled power plants with clean and renewable energy sources, the state-run operator of South Korean nuclear power plants agreed Friday to shut down an old nuclear reactor and abandon the planned construction of four new plants. Korea Hydro & Nuclear Power (KHNP) CEO Chung Jae-hoon said that the company's board has endorsed the permanent closure of the Wolsong-1 nuclear reactor
June 15, 2018
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SK's construction arm bids for Philippine thermal power plant project
SEOUL -- SK Engineering and Construction, a construction arm of South Korea's SK Group, has joined the race to participate in a state project worth $2 billion to build two coal-fueled thermal power plants in the Philippines. SK E&C said Friday that it signed a letter of intent during Philippine President Rodrigo Duterte's visit to Soth Korea last week to bid for the 2.2 trillion ($2 billion) project to build two power plants capable producing 600 megawatts of electri
June 15, 2018
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S. Korean nuclear plant operator seeks new business opportunities abroad
SEOUL -- To head off a challenge posed by a sudden policy shift, the operator of South Korean nuclear power plants vowed to find a new growth model abroad by exporting technology and business know-how to Slovakia and other emerging markets. Korea Hydro & Nuclear Power (KHNP), which depends heavily on sales of electricity produced at 24 nuclear reactors at home, has been hit by falling profits, as President Moon Jae-in pushes ahead with a str
June 8, 2018
