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LG Energy Solution will use generative AI to boost work performance
SEOUL, April 15 (AJU PRESS) - LG Energy Solution, the battery-making arm of South Korea's LG Group, will implement generative artificial intelligence-based technologies to improve work efficiency. The company intends to utilize this AI solution to analyze customer demands. The company said Sunday it adopted a generative AI solution that analyzes YouTube video clips and summarizes the latest trends in batteries, electric vehicle-related policies, and other work-related trends. Summarized con
April 15, 2024
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LG Energy Solution and Stellantis to resume construction of EV battery factory in Canada after subsidies deal
SEOUL -- A joint venture between South Korean battery maker LG Energy Solution and American carmaker Stellantis will resume the construction of a five-billion Canadian-dollar electric vehicle battery plant in Ontario, Canada after the companies reached a financial deal with the governments of Canada and Ontario. LG Energy Solution (LGES) and Stellantis announced their joint Ontario battery plant investment in March 2022 but things changed when the United State
July 6, 2023
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LG Energy Solution forges partnership with Australia's lithium mine operator
SEOUL -- In a bid to diversify and expand lithium supply channels, South Korea's battery maker LG Energy Solution has forged a partnership with Australia's Green Technology Metals, a lithium mine operator. Global battery makers are in a race to acquire as many stable supply channels for lithium and other rare metals that are required for the production of batteries. China controls about 70 percent of the global lithium production. China, Australia, and Chile are the world's top thr
May 19, 2023
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Korean, UAE firms sign contracts, MOUs worth $6.1 billion
SEOUL -- Domestic companies are vying to strike a deal with United Arab Emirates’ firms after the UAE promised to invest $30 billion (about 37 trillion won) in South Korea. On January 16, the Ministry of Trade, Industry and Energy held a Korea-UAE business forum in Abu Dhabi to help South Korean corporations look for UAE partners as part of efforts to increase exports to the Middle Eastern country and explore business opportunities there. The business forum came after President Yoon Su
January 17, 2023
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UAE decides to invest $30 billion in South Korea
SEOUL -- The United Arab Emirates (UAE) has decided to invest $30 billion (about 37 trillion won) in South Korea’s nuclear power, energy and defense sectors, the presidential office said on January 15. The decision came during a summit between President Yoon Suk-yeol and his UAE counterpart Mohamed bin Zayed Al Nahyan in Abu Dhabi. The office quoted the UAE president as telling Yoon that the Middle Eastern country has made the investment decision with confidence in the Republic of Kore
January 16, 2023
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SK Energy forms alliance to commercialize one-stop hydrogen fuel-powered EV charging station
SEOUL -- South Korea's oil company SK Energy has partnered with three other companies to develop and commercialize an electric vehicle charging station that is powered by hydrogen fuel. The so-called urban-type hydrogen fuel power plants are designed to generate electricity using hydrogen and provide power to EV charging stations and nearby power grids. SK Energy is one of the largest oil companies in South Korea, but the petroleum product distributor had been diversifying its business to
December 28, 2022
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SK Telecom uses AI to create optimized virtual power plants
SEOUL -- Under a business agreement for technology development with domestic partners, SK Telecom, a leading mobile carrier in South Korea, will use artificial intelligence and new technologies to predict the amount of renewable energy generation and power demand scattered in each region and create optimized virtual power plants. A virtual power plant (VPP) harnesses scattered renewable energy power generation to a network for maximum efficiency using new technologies such as artificial intelli
September 28, 2022
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SK Group acquires management rights of U.S. circuit breaker company Atom Power
SEOUL -- South Korea's SK Group acquired management rights of Atom Power, a U.S. developer of solid-state digital circuit breakers, in a $150 million deal to promote an energy solution business and electric vehicle mobility services at home and abroad. The deal involving SK Inc., an investment-oriented holding company, and SK energy was signed in Seoul on August 18. Atom Power's solid-state breaker concept replaces traditional moving parts of an electromechanical circuit breaker wit
August 18, 2022
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SK Innovation invests in U.S. bioenergy startup Fulcrum to acquire waste gasification technology
SEOUL -- SK Innovation, an intermediate holding company of SK Group, will invest $20 million in Fulcrum Bioenergy, a U.S. waste-to-fuel specialist that converts household garbage into low-carbon transportation fuels, to learn about waste gasification, which is seen as a promising technology in the waste-to-energy market. Waste gasification is a chemical process that can help turn biomass into synthetic gas (syngas) for refinery use or power generation. It will become a relatively cheaper source
July 13, 2022
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SK ecoplant works with domestic venture firm to develop energy-saving water treatment solution
SEOUL -- SK ecoplant, a major waste management company affiliated with South Korea's SK Group, tied up with a domestic environmental venture enterprise to develop a new energy-saving water treatment solution that can compete with proprietary technologies possed by only a few foreign companies. SK ecoplant said it has signed a joint technology development agreement with Pure Envitech, a membrane specialist company that produces equipment for sewage and wastewater treatment. The two comp
July 7, 2022
