South Korea Tag

10 May South Korea and ADB to Establish Climate Technology Sharing Platform in 2024

Posted at 17:33 by Jordy Leo

South Korea and the Asian Development Bank (ADB) have agreed to establish an ADB-Korea Climate Technology Hub (K-Hub) in Seoul next year, as reported by Nikkei Asia on May 4. The K-Hub will serve as a networking platform for the climate sector, connecting public and...

12 Apr South Korean Fines Google USD32m for Impeding Competition Between App Markets

Posted at 16:47 by Jordy Leo

South Korea’s antitrust watchdog, the Korean Fair Trade Commission (KFTC), has fined Alphabet’s [GOOG:US] Google KRW42.1bn (USD32m) for allegedly abusing its dominant position in the app market to hurt a domestic competitor, as reported by Reuters on April 11. The KFTC stated that Google had...

19 Jan South Korea to Publish Guidelines on ESG Bond Certification and Evaluation

Posted at 12:02 by Jordy Leo

South Korea’s Financial Supervisory Service (FSS) will enact the environmental, social, and governance (ESG) bond certification evaluation guidelines for credit rating agencies to determine whether bond issuers spend the proceeds on ESG-related projects, as reported by the Korea Economic Daily on January 16. Effective from...

01 Nov South Korea and Poland Ink Deal to Build Nuclear Power Plant

Posted at 17:02 by Tracy Liu

South Korea and Poland signed an agreement to develop a private nuclear power plant in Poland on October 31, as reported by the Korea Economic Daily. Per the agreement, Korea Hydro and Nuclear Power Co. (KHNP), Poland’s state-run power company Polska Grupa Energetyczna (PGE), and private...

27 Oct South Korean Antitrust Watchdog to Enhance Supervision of Online Platform Sector

Posted at 12:47 by Jordy Leo

South Korea’s antitrust authority, the Fair Trade Commission (FTC), will increase scrutiny of acquisitions for different businesses in the platform industry to crack down on monopolies in the sector, as reported by the Korea Economic Daily on October 21. The supervision came after South Korea’s...

20 Oct South Korea to Limit Public Building Temperature to Save Energy

Posted at 12:03 by Jordy Leo

South Korea will set a cap on temperature levels in public buildings this winter to curtail power consumption amid the intensifying global power crisis prompted by growing fuel costs, as reported by Bloomberg on October 18. According to the Ministry of Trade, Industry, and Energy...

12 Oct POSCO, GS Energy to Set up USD121m Battery Recycling Joint Venture

Posted at 14:56 by Jordy Leo

South Korea’s largest steelmaker POSCO Holdings [005490:KS] and GS Energy Corp, the energy unit of South Korean conglomerate GS Group [078930:KS], have inked an initial agreement to form a battery recycling joint venture (JV), as reported by the Korea Economic Daily on October 6. The...

27 Sep POSCO to Invest USD14.1bn to Cut Carbon Emissions

Posted at 16:30 by Lexy Li

South Korean steelmaker POSCO Holdings [005490:KS] will invest KRW20tr (USD14.1bn) to reduce carbon emissions from its operations, as reported by Nikkei Asia on September 23. To replace polluting old blast furnaces, the company will construct two electric furnaces, one at its Gwangyang factory and the...

21 Sep LG Electronics to Produce Solar Energy to Support Power Usage

Posted at 15:18 by Lexy Li

LG Electronics [066570:KS] has inked a memorandum of understanding (MoU) with GS EPS, a power production firm of the South Korean GS Group [078930:KS], to procure renewable energy for its facilities, as reported by the Korea Economic Daily on September 19. According to the MoU,...

15 Sep South Korea Fines Google and Meta USD72m for Breaching Personal Information Rules

Posted at 13:18 by Lexy Li

South Korea’s Personal Information Protection Commission (PIPC) decided to impose a total fine of KRW100bn (USD72m) on Google [GOOG:US] and Meta [META:US] for collecting personal information without users' consent and using it to distribute personalized advertisements online, as reported by the Korea Herald on September...

31 Aug POSCO Finishes Construction of EV Battery Recycling Plant in Poland

Posted at 15:55 by Lexy Li

South Korea’s POSCO Holdings [005490:KS] has finished building a recycling facility for electric vehicle (EV) batteries in Poland, as reported by the Korea Economic Daily on August 26. This facility, which is situated in Brzeg Dolny, can treat 7,000 tons of used batteries and production...

31 Aug Samsung and LG to Boost Use of Recycled Materials in Electronics

Posted at 15:26 by Jordy Leo

South Korean tech giants Samsung Electronics [005930:KS] and LG Electronics [066570:KS] will exhibit various products made from recycled materials at the IFA 2022 on September 2 to parade their efforts in making environmental-friendly products, as reported by the Korea Economic Daily on August 29. At...

18 Aug Samsung Electronics to Join RE100 Initiative After Lee Jae-Yong Back in Charge

Posted at 12:05 by Jordy Leo

Samsung Electronics [005930:KS], the world's top smartphone and chip maker, will soon join the RE100 Initiative, a global eco-friendly organization whose members commit to shifting to 100% renewable energy by as early as 2025, as reported by the Korea Economic Daily on August 14. According...

17 Aug SK Group Invests USD250m in SMR Developer TerraPower

Posted at 11:45 by Lexy Li

SK Group [034730:KS] will invest USD250m in TerraPower, a US small modular reactor (SMR) startup founded by Bill Gates, as reported by The Korea Herald on August 15. SMRs are nuclear reactors that are significantly smaller than conventional reactors, enabling users to deploy nuclear power where...

10 Aug South Korea to Formulate Frequency Spectrum Plan to Support EV Development

Posted at 13:30 by Lexy Li

The South Korean Ministry of Science and ICT will draft a frequency spectrum plan by the end of this year to support new industries such as electric vehicles (EVs), robotics, and urban air mobility, as reported by the Korea Herald on August 9. South Korea...