SK Innovation has been selected as the developer of a $2.3 billion liquefied natural gas power project in northern Vietnam, marking a significant step in the South Korean energy company's push to expand its global LNG footprint. The project, located in the Quynh Lap area of Nghe An province, about 220 kilometers south of Hanoi, calls for the construction of a 1,500-megawatt combined-cycle gas power plant, a 250,000-cubic-meter LNG terminal, and a dedic
South Korea and the Czech Republic agreed to establish a ministerial-level consultative body to oversee the construction of two nuclear reactors at the Dukovany site, as both nations deepen an energy partnership worth about 26 trillion won ($18 billion). South Korean Trade, Industry and Energy Minister Kim Jung-kwan met newly inaugurated Czech Prime Minister Andrej Babis and his counterpart Karel Havlicek in Prague on Monday (local time) at the Czech gover
The global solid-state battery market is projected to grow more than tenfold to nearly $20 billion by 2032, driven by expanding applications in electric vehicles and robotics, according to a market research report released Monday. South Korean battery makers are accelerating development efforts as commercialization of the next-generation technology draws closer. The worldwide solid-state battery market is expected to expand from $1.97
China’s steel prices have fallen to an eight-week low, heightening concerns that South Korea’s steel industry could face mounting pressure amid new European carbon rules and rising domestic electricity costs. Rebar futures slipped below 3,060 yuan ($425) per ton on Monday, their lowest level in two months, according to Trading Economics. The decline comes as Chinese steelmakers scale back production ahead of the extended holiday shutdown, w
South Korea’s GS Group reported stronger fourth-quarter earnings on improved refining margins, although full-year profit declined as weakness in petrochemicals and power generation weighed on results. In a regulatory filing on Monday, GS said fourth-quarter revenue rose 1.4 percent from a year earlier to 6.49 trillion won, while operating profit jumped 23.3 percent to 767.2 billion won. For full-year 2025, however, revenue slipped 0.3 percent
South Korea's Hyosung Heavy Industries said on Monday it had secured its largest order to date in the United States. The company signed a contract worth about 787 billion won ($538 million) with a major U.S. transmission grid operator to supply 765-kilovolt ultra-high-voltage transformers, reactors and related equipment. It described the deal as the largest single U.S. project ever won by a South Korean power-equipment manufacturer. Hyosung Heav
LG Energy Solution (LGES) has agreed to acquire its partner’s entire stake in a major Canadian battery plant for a symbolic $100, underscoring how slowing electric vehicle demand, shifting industrial policy and geopolitics are reshaping North America’s manufacturing landscape. In a regulatory filing on Friday, the South Korean battery maker said it would purchase the 49 percent stake held by Stellantis in their joint venture, NextStar Energy Inc
