-
Daelim Energy acquires $180 mln solar power business in Chile
SEOUL -- Daelim Energy, an energy and infrastructure development company in South Korea, has acquired a $180 million solar power business license in Chile from Grenergy Renovables, a Spain-based company engaged in a number of renewable energy projects in Latin America. Daelim Energy said Monday it would make a direct investment of $50 million with the remainder to be raised through project financing. The company would operate solar power plants capable of generating 105 megawatts
December 3, 2018
-
Hyundai shipyard wins $370 mln order to build two LNG carriers for Greece's CMM
SEOUL -- South Korea's top shipbuilding group, Hyundai Heavy Industries, received a $370 million order to build two liquefied natural gas (LNG) carriers for Consolidated Marine Management (CMM) of Greece. Delivery will begin in 2021. So far this year, Hyundai Heavy has received orders to build 22 LNG carriers, including two for CMM. The volume of global LNG cargo has been on the rise due to active U.S. energy exports and China's eco-friendly ene
November 26, 2018
-
Aid package for small shipyards includes orders for 140 LNG-powered ships
SEOUL -- Along with financial aid, small and mid-sized shipbuilders will receive orders for 140 vessels powered by liquefied natural gas (LNG) in a government campaign to recharge South Korea's ailing shipbuilding industry. The construction of LNG-powered ships is to meet new rules imposed by a U.N. maritime safety agency. The aid package came Thursday at a meeting of policymakers, led by Trade, Industry and Energy Minister Sung Yun-mo. Small and mid-s
November 22, 2018
-
Samsung shipyard and Norway's Jotun develop solvent-free paint for commercial vessels
SEOUL -- Harmful air pollutants emitted from shipyards come mostly from volatile organic compounds used in solvent-based paints. As an alternative, solvent-free paints have been recommended, but it's been difficult to use them for commercial ships because of high viscosity. Samsung Heavy Industries, one of South Korea's three leading shipbuilders, said Wednesday that its research team has teamed up with Jotun, a Norwegian chemicals company deali
November 21, 2018
-
S. Korea and UAE discuss nuclear cooperation: Yonhap
SEOUL -- South Korea and the United Arab Emirates launched a high-level dialogue channel on nuclear cooperation on Friday, in another sign of their expanding partnership. The two countries held the inaugural session of the High-Level Consultation in Seoul, led by Seoul's Vice Foreign Minister, Lee Tae-ho, and Suhail Mohamed Faraj Al Mazrouei, the UAE minister of energy and industry. They agreed to install the dialogue channel during South Korean President Moon Jae-in&
November 16, 2018
-
SK E&S sells 49% stake in LNG operator to Thailand's EGCO
SEOUL -- SK E&S, an energy company involved in power generation and the development of gas fields abroad, agreed to sell a 49 percent stake in its wholly-owned subsidiary, which runs a lucrative LNG power plant, to a Thai company. The company said in a regulatory filing Wednesday that the stake worth 885.2 billion won ($780.6 million) in Paju Energy Service was sold to Thailand's Electricity Generating Public Company (EGCO) which generates and sells electricity. A contra
November 14, 2018
-
S. Korean aircraft maker KAI wins military contract in Indonesia
SEOUL -- South Korea's sole aircraft maker, Korea Aerospace Industries (KAI), won a defense contract in Indonesia to ship three turboprop basic trainers and install radar and machine guns in KAI's supersonic trainers which are in service in the Southeast Asian country. KAI said Thursday that the deal worth about 100 billion won ($89.5 million) was signed on the sidelines of the Indo Defence trade fair for military technology in Jakarta. Indone
November 8, 2018
-
S. Korea seeks Russian help to manage nuclear waste and dismantle reactors
SEOUL -- For the dismantlement of decommissioned nuclear power plants and the safe management of spent fuel and waste, South Korea turned its eyes to Russian technology as negotiations with the United States on revising a 2015 nuclear accord moved at a snail's pace. President Moon Jae-in unveiled a new energy roadmap to replace fossil-fueled power plants with clean and renewable energy sources. The life cycle of existing reactors will not be extended to decrease the n
November 7, 2018
-
Japan wants talks to see if S. Korea violated trade rules to rescue shipbuilder
SEOUL -- Japan has called for bilateral talks to see if South Korea violated international trade rules by providing subsidies to its struggling shipbuilding industry, the South's foreign ministry said. Usually, such bilateral talks come before a country files a complaint with the World Trade Organization (WTO). South Korea maintained a lukewarm attitude over accusations that excessive state subsidies have been used to rescue Daewoo Shipbuild
November 6, 2018
-
KHNP wins deal to build 496-megawatt hydropower plant in Pakistan'
SEOUL -- Korea Hydro & Nuclear Power (KHNP), the state-run operator of nuclear power plants in South Korea, has won a deal to build and manage a 496-megawatt hydropower plant in Pakistan's Khyber Pakhtunkhwa Province. KHNP said Tuesday it signed a memorandum of understanding with the Pakistani province's energy and power department. Pakistan's Water and Power Development Authority is developing the Lower Spat Gah hydroelectric project
November 6, 2018
