Kia announced it will procure 250 Gigawatt-hours (GWh) of renewable energy from solar power generation.On Dec. 13, Kia signed a Solar Power Purchase Agreement (PPA) with Hyundai Construction at its headquarters in the Yangjae neighborhood of Seoul. The signing ceremony saw the attendance of signific
Samsung C&T is joining hands with multinational corporations to participate in Oman’s large-scale green ammonia project.On Dec. 13, the construction division of Samsung C&T announced that it has formed a consortium with Japan’s Marubeni, Oman’s state-owned energy company OQ, and UAE’s Dutco, among o
SK Group Chairman Chey Tae-won has not stopped his overseas business travels, going to the United States and Europe towards the end of the year in December.The SK chairman visited SK hynix America in San Jose and three affiliates and investors, including Gauss Labs and Lunar Energy, in the United St
The Export-Import Bank of Korea (Eximbank) announced on Dec. 7 that it will provide a total of US$170 million in project financing (PF) for the Manah1 solar power project in Oman, which was secured by Korea Western Power (KOWEPO).The Manah1 solar power project, led by Oman’s state-owned Electricity
Hyundai Motor will shut down its local plant, which once drove the automaker’s strong sales in Russia, by the end of this year. Some local reports say that the Korean carmaker will sell the plant to a local company in Russia in the aftermath of the Russian-Ukrainian war.Hyundai Motor plans to close
As China’s economy has expanded its independence in intermediate goods, it will be difficult for South Korea to enjoy the same benefits as in the past, according to a report on China’s growth structure transition process and the ripple effects released by the Bank of Korea (BOK) on April 4. The repo
Hanwha Systems has successfully launched South Korea’s first domestically designed and manufactured small Synthetic Aperture Radar (SAR) satellite, a low-orbit Earth observation satellite. This marks the first time a South Korean private company has independently developed, launched, and operated an
Hanwha Systems has announced the successful launch of its self-developed “Small SAR Satellite” from the seas south of Jeju Island at exactly 2:00 p.m. on Dec. 4. This launch marks a significant milestone as it represents the first domestic development of such a satellite in South Korea. The launch v
Jusung Engineering, a semiconductor, display, and solar equipment company, has carved a mythical path in the barren land of domestic ventures. This year marks its 30th anniversary. Established in 1993, the company has experienced various challenges but has achieved remarkable growth through continuo
Amid the global economic downturn and challenges such as weakened demand for petrochemical products as well as increased self-sufficiency in China, which is the largest market for domestic companies, the South Korean petrochemical industry is accelerating business restructuring.According to Korea Cr
Hyundai Engineering & Construction announced on Nov. 8 that it has signed a strategic business agreement with Korea Midland Power and the Korea Overseas Infrastructure & Urban Development Corporation (KIND) to jointly develop solar power generation projects in the United States.Through this agreemen
While Korea’s exports rebounded for the first time in 13 months in October, the value of Korea’s exports to Eastern European countries surged. Eastern European countries included Poland, Hungary and Turkiye. In general, they had previously accounted for small proportions of Korea’s exports.The Korea
Hyosung Heavy Industries conducted a shipment ceremony on Nov. 6 in Haman, South Gyeongsang Province, for the delivery of a container-type Static Synchronous Compensator (STATCOM), a stationary reactive power compensation device, to Japan’s Steel CompanyThe exported product is the first instance of
SK ecoplant is set to provide solid oxide fuel cells (SOFCs) to an upcoming data center in Ireland, a data center hub for major global tech companies.On November 2, SK ecoplant made a significant announcement, revealing the signing of a memorandum of understanding (MOU) with Ireland's Lumcloon Energ
Seven Korean companies, including LG Electronics, Lotte Chemical and Samsung Fire & Marine, have joined RE100 this year, bringing the total number of Korean companies to 34, according to the U.K.-based Climactic Group on Nov. 3.This means that Korea has the fourth-most number of companies after the
South Korea has set an ambitious goal to rise alongside the United States and China as one of the top three powerhouses in the global energy storage system (ESS) industry by 2036. The nation plans to capture 35% of the rapidly growing global ESS market, aiming to revitalize its currently stagnant do
Korea East-West Power Corp. (EWP) announced on Oct. 30 that it has confirmed its participation in the construction of solar power generation facilities and an energy storage system (ESS) project for the environmentally friendly tourism city AMAALA currently being built off the Red Sea coast in Saudi
The Korea Chamber of Commerce and Industry (KCCI) suggested in a report that Korea cooperate with major Middle Eastern countries such as Saudi Arabia, the United Arab Emirates (UAE), and Qatar in the fields of future energy, electric vehicles and defense.The KCCI released the report on economic coop
President Yoon Suk-yeol will visit Saudi Arabia and Qatar on a four-day, six-night state visit starting on Oct. 21. This will mark the first time a Korean head of state has paid a state visit to Saudi Arabia and Qatar.President Yoon will arrive in Riyadh, the capital of Saudi Arabia, on Oct. 21 (loc
The European Union (EU) has shown interest in incorporating nuclear power generation into the scope of the “Net-Zero Industry Act (NZIA),” which supports environmentally friendly industrial investments. This development could provide impetus to South Korea's efforts to promote the international expa