DL Engineering & Construction (E&C) has partnered with the Saline Water Conversion Corporation (SWCC) of Saudi Arabia to promote carbon-neutral desalination plants.On Oct. 22, local time, DL E&C announced that it signed a “Mutual Cooperation MOU for the Application of Small Modular Reactors (SMR) in
During President Yoon Seok-yeol’s state visit to Saudi Arabia, a total of 46 memoranda of understanding (MOUs) and contracts were signed at the 2023 Korea-Saudi Investment Forum. This signifies a boost in economic cooperation between the two nations across various industries, including electric vehi
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
Eco-friendly car exports, including hybrid, electric, and hydrogen vehicles, recorded US$18 billion in the first nine months of this year, outpacing the total eco-friendly car exports of US$16.1 billion in the previous year.According to a “September 2023 Automotive Industry Trends” report released b
South Korea’s major government-run banks and commercial banks, including the Korea Development Bank, the Export-Import Bank of Korea, Kookmin Bank, and Woori Bank, are planning to provide multi-million-dollar loans for Hanwha Group’s 24 trillion won (US$17.71 billion) investment in a U.S. liquefied
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Hanwha Corp’s in-house businesses have been resettled as construction, global, and momentum. The expansions of its green energy/materials and high-value added new ventures are to usher in earnin
The Carbon Free Alliance (CF Alliance), proposed by President Yoon Suk-yeol during the UN General Assembly last month, has been officially launched in South Korea on Oct. 12. Major domestic corporations, including Samsung, Hyundai, SK, LG, POSCO, and Hanwha, have joined the CF Alliance.The Ministry
On Oct. 11, HD Korea Shipbuilding & Offshore Engineering announced at Seoul Square a concluded investment agreement with the pioneering fuel cell company Elcogen AS. The agreement sees the shipbuilding giant investing a total of 45 million euros (US$48 million).The event was graced by the presence o
As the sole operator of nuclear power plants in the country, Korea Hydro & Nuclear Power (KHNP) has turned its attention towards revitalizing nuclear small and medium-sized enterprises which have been struggling with a shortage of projects. The initiative begins with the Shin Hanul Nuclear Power Pla
Last month, during the United Nations General Assembly, President Yoon Suk-yeol proposed the Carbon Free Alliance (CFA). Leading corporations such as Samsung Electronics, SK Hynix, and Hyundai Motor, which previously committed to RE100 (100% renewable energy), have now joined the alliance. The shift
On Sept. 27, Samsung Engineering announced that it has received a notice of award (NoA) for a front end engineering design (FEED) project for a petrochemical plant from Alujain Corporation of Saudi Arabia. The order is worth about US$19.5 million or 26 billion won. The Korean contractor will complet
A technology that maintains high hydrogen production efficiency over a long period by leveraging semiconductor technology capable of implementing a three-dimensional network structure has been developed.On Sept. 25, the Korea Advanced Institute of Science and Technology (KAIST) announced that a join
On Sept. 20, President Yoon Suk-yeol proposed the formation of a “Carbon Free Alliance” to the international community during the United Nations General Assembly held in New York. This proposal includes bringing forward Carbon-Free Energy (CFE), which encompasses nuclear power and hydrogen energy, a
SK ecoplant continues to make significant strides in the global energy market as it has joined Korea's first utility-scale offshore wind power project.On September 24, SK ecoplant announced its successful bid for the “offshore wind power transportation and installation project (Foundations T&I Packa
Hyundai Motor Group and the Georgia Institute of Technology (Georgia Tech) have officially signed a memorandum of understanding (MOU) for future mobility collaboration on Sept. 19 (local time) at the Georgia Tech John Lewis Student Center in Atlanta, Georgia. Chung Eui-sun, chairman of Hyundai Motor
Korea’s auto exports set a new monthly record in August, marking the 14th consecutive month of double-digit growth since July last year, bringing this year’s cumulative auto exports to US$46.45 billion at the end of August.According to the Ministry of Trade, Industry and Energy (MOTIE) on Sept. 19,
FuelCell Energy (CEO Jason Few), a global leading company in fuel cell technology innovation, in collaboration with Toyota Motor North America (TMNA, CEO Tetsuo Ogawa), officially announced the successful completion of the “Tri-gen System.”FuelCell Energy's 'Tri-gen' stands as the world's pioneering
HD Hyundai announced on Sept. 17 that the company’s president attended the naming ceremony for the 2,100 TEU-class methanol-fueled container ship Laura Maersk held recently in Copenhagen, Denmark.The ship, constructed by Hyundai Mipo Dockyard, is the first of 19 methanol-fueled ships commissioned to
ACE Engineering (CEO Danny You), an ESS turnkey solutions provider, participated in RE+ 2023 (Renewable Energy Plus 2023), North America's largest clean energy event, and announced that it successfully held the celebration event for ‘Big Rock 1’ project launching.RE+ 2023 was held from September 11t