OCI Holdings announced on April 23 that it will expand its solar power business in earnest after signing a memorandum of understanding (MOU) for investment cooperation with the Malaysian central government at the KL20 Summit 2024, a global investment attraction event held in Kuala Lumpur, Malaysia,
Korean appliances are making strides in Europe, one of the world’s most conservative markets. Although the European market is known for its traditional preferences, Korean companies have carved out a strong presence by adopting tailored strategies that cater to local tastes.Last year, LG Electronics
After years of double-digit growth, the global electric vehicle market is entering a chasm, considered to be a slowdown in demand just before mass adoption. Global automakers that have been aggressively investing to expand their electric vehicle lineups are scrambling for survival by making use of a
On the night of April 13 (local time), Iran launched retaliatory attacks against Israel, employing drones, cruise missiles, and ballistic missiles. This action is expected to lead to an escalation in international oil prices. In addition, the exchange rate of the Korean won against the U.S. dollar r
LS Eco Energy has recently supplied ultra-high-voltage cable to Denmark, the company announced on April 11.The supply consists of 220 kV underground cables worth US$13 million. These cables will be used to connect the North Sea’s “Thor Offshore Wind Farm” with the inland power network.Since 2017, LS
Amid astronomical subsidies being poured into the semiconductor industry by countries like the United States and Japan, the South Korean government has decided to explore domestic investment incentives. There’s speculation that discussions on ‘semiconductor subsidy cash support’ could materialize, g
Samsung C&T Corporation will build the first mixed hydrogen compound power generation infrastructure in Korea.Samsung C&T Corporation inked a contract with KEPCO to build a 30,000-ton capacity hydrogen compound storage, loading and unloading infrastructure in Samcheok, Gangwon Province of Korea, the
LS Eco Energy announced on April 2 that it has signed a business agreement with the Institute of Energy (IE) under the Vietnam Electricity Authority regarding the superconducting cable project.The two parties plan to establish a cooperative system to apply superconducting cables to the Vietnamese po
As large offshore wind power projects are being actively pursued in South Korea, it is estimated that investments could reach up to 100 trillion won by 2030.According to the Ministry of Trade, Industry and Energy, the government aims to deploy offshore wind power facilities with a total capacity of
Pacifico Energy Korea has signed a Co-Existence Agreement to accelerate the development of the company’s Myeong Ryang Offshore Wind Project with the Seogeocha Island Offshore Wind Promotion Committee, which comprises of residents of Seogeocha Island located in Jindo County, South Jeolla Province. Wi
Hyundai Motor Group announced on March 27 that it will hire 80,000 people and invest 68 trillion won in Korea over the next three years from this year to 2026. The plan is expected to create about 198,000 decent new jobs.The announced investment in Korea is a significant increase from the 56.2 trill
Korea Electric Power Corporation (KEPCO) and the Emirates Nuclear Energy Corporation (ENEC), through their joint venture operation company in the UAE, Nawah Energy, announced that Unit 4 of the UAE Barakah Nuclear Power Plant successfully connected to the UAE transmission network on March 23.The con
Samsung C&T has sold the rights to a solar power project of 200 megawatts (MW) to Hanwha Solutions. The sale comes after all preparatory work for the construction of the solar power plant was completed, suggesting that Samsung C&T disposed of the project to recover its investment.According to the in
The market for all-in-one washer-dryers, often dubbed as “dream home appliances,” is now opening up in earnest. South Korea’s two major home appliance companies, LG Electronics and Samsung Electronics, have both introduced this product. With a washer-dryer combo, there’s no need to separately transf
Doosan Enerbility is participating in Saudi Arabia's largest combined cycle power plant project.The company announced on March 11 that it has signed a contract with SEPCO-3 to supply equipment for the Taiba 1 Integrated Cycle Power Plant and Qasim 1 Combined Cycle Power Plant in Saudi Arabia. With t
The Korean government will launch the Top 10 Promising Markets Trade Mission, which will lead strategic market exploration to help the country achieve US$700 billion, the largest ever, in exports this year,.The Ministry of Trade, Industry and Energy (MOTIE) announced on Mar. 5 that it will send the
Hyundai Engineering & Construction (Hyundai E&C) has been selected as the preferred negotiating partner for a major nuclear power plant project in Bulgaria, marking its return to the overseas market after 15 years.The company announced on Feb. 23 that it has solely passed the pre-qualification asses
Root Energy Inc., Korea’s leading renewable energy local acceptance solution provider as well as a certified B Corp, has successfully raised KRW 20 billion (approx. USD 15 million) crowdfunded by residents of Suwon-ri, Hallim-eup, Jeju Island. It makes the Korea’s largest offshore wind farm Jeju Hal
KEPCO KPS has signed a trilateral memorandum of understanding (MOU) with X-energy and DL E&C for the development of technology and business related to non-light water reactor-type fourth generation small modular reactors (SMRs).Under this agreement, the three parties, including KEPCO KPS, will colla
Korea Western Power (KWP) has secured a landmark solar power project in the United Arab Emirates (UAE), marking the first time a South Korean company has won such a large-scale solar power project in the country. This project represents the largest single solar power project ever won by a Korean com