Industry

  • Decision on joint exercises to be made before Dec. 1: Yonhap
    Decision on joint exercises to be made before Dec. 1: Yonhap South Korean Defense Minister Jeong Kyeong-doo inspects an American honor guard before attending an annual defense conference. WASHINGTON -- South Korean Defense Minister Jeong Kyeong-doo said that Seoul and Washington will make a decision on plans for next year's major exercises before December 1 after a working-level review. Jeong made the remarks after the 50th annual Security Consultative Meeting (SCM) with his U.S. counterpart, James Mattis, where the tw November 1, 2018
  • Nuclear power operator wins deal to build worlds largest floating solar power station
    Nuclear power operator wins deal to build world's largest floating solar power station SEOUL -- Korea Hydro & Nuclear Power (KHNP), the state-run operator of nuclear power plants, set a new record in South Korea's solar energy history by winning a deal to build the world's biggest floating solar power system on an artificial reservoir created by a giant seawall on South Korea's southwest coast. KHNP said Tuesday the deal was signed with central and provincial government authorities as well the developers of Saemangeum near the southwestern port city October 30, 2018
  • S. Korea unveils new project to build clean energy complex on reclaimed land
    S. Korea unveils new project to build clean energy complex on reclaimed land SEOUL -- A massive clean energy complex will be built on reclaimed land in South Korea in a state project sponsored by President Moon Jae-in who has launched a campaign to replace nuclear reactors and other fossil-fueled power plants with renewable energy sources. The cluster will be built in Saemangeum near the southwestern port city of Gunsan. A seawall stretching 33 kilometers (20 miles) was built in 2010 to convert an estuarine tidal flat in Sa October 30, 2018
  • Hyundai seeks structural change to focus on future businesses
    Hyundai seeks structural change to focus on future businesses Thomas Schemera SEOUL -- South Korea's Hyundai auto group set up two new organizations in charge of hydrogen electric vehicles and artificial intelligence for smart mobility solutions in a structural change that reflects the group's aggressive push for design innovation and the development of future technologies. The group said Monday that it established a fuel cell division and AIR (artificial intelligence research) Lab. Hyundai has promised to unveil mo October 29, 2018
  • Nuclear-exit policy places extra burden on S. Korean taxpayers
    Nuclear-exit policy places extra burden on S. Korean taxpayers SEOUL -- President Moon Jae-in's campaign to replace fossil-fueled power plants with clean and renewable energy sources requires a whopping amount of state money, but it may place an extra burden on South Korean taxpayers for after treatment, according to a government report released by a ruling party legislator in a parliamentary committee. Data presented by the Ministry of Trade, Industry and Energy showed that South Korea needs a total cost of some 100.6 tri October 25, 2018
  • Premier proposes deployment of hydrogen fuel cell police buses
    Premier proposes deployment of hydrogen fuel cell police buses SEOUL -- In an effort to change public perception about hydrogen fuel cells in South Korea, Prime Minister Lee Nak-yon proposed the deployment of hydrogen police buses in the most important strategic location of Seoul. A dozen diesel-power buses carrying riot police and their equipment are parked on the Gwanghwamun road in central Seoul to guard the U.S. embassy, government buildings and the presidential Blue House. Police let their bus engines idle around the clock, emitting October 24, 2018
  • State oil company considers converting gas platform into wind power turbine
    State oil company considers converting gas platform into wind power turbine SEOUL -- South Korea's state oil company has installed a laser-based wind energy meter at an offshore gas platform off the southeastern port city of Ulsan to see if it could be converted into a floating wind power turbine to produce electricity. Korea National Oil Corp. (KNOC), which operates oil and gas fields abroad, said Thursday that the device was installed Wednesday in the platform some 60 kilometers (36 miles) southwest of Ulsan to acquire re October 18, 2018
  • Samsung Electronics unveils new auto-related solutions for smart vehicles
    Samsung Electronics unveils new auto-related solutions for smart vehicles SEOUL -- In an effort to tap deeper into the connected car industry, Samsung Electronics unveiled two auto-related solutions, Exynos Auto for mobile chip processors and ISOCELL Auto for image sensors, that would enable new driving experiences to next-generation smart vehicles. Kenny Han, vice president of Samsung's device solutions division, said in a statement that the new automotive brand solutions would bring Samsung's market-proven technologies to automotive October 16, 2018
  • S. Korean companies secure financing deal for wind power project in Jordan
    S. Korean companies secure financing deal for wind power project in Jordan SEOUL -- Two South Korean energy companies have signed a financing agreement worth 80 billion won ($72 million) for the construction of a wind power complex with a capacity of 51.75 megawatts in the Tafilah region in Jordan. Daelim Energy, a Seoul-based energy and infrastructure development company, and Korea Southern Power (KOSPO), a public energy company, agreed in 2015 to jointly participate in the $101 million wind power project in Jordan and set up Daehan Win September 27, 2018
  • Posco trading arm agrees with car parts maker to set up joint supply chain abroad
    Posco trading arm agrees with car parts maker to set up joint supply chain abroad SEOUL -- Posco Daewoo, a trading company affiliated with South Koren steel giant Posco, agreed with domestic auto parts maker to set up a joint supply chain abroad and sell parts to global carmakers. The trading company said Thursday that it signed a memorandum of understanding with Sungwoo Hitech to make a joint entry into the global automotive downstream steel market. Upstream refers to the material inputs needed for production, while downstream is the opposite e September 13, 2018