South Korea Tag

18 Nov SK Group’s Construction Unit Enters Offshore Wind Power Business with KRW460bn Deal

Posted at 10:57 by Lexy Li

South Korean conglomerate SK Group’s construction subsidiary, SK Ecoplant, plans for a combined investment of KRW459.5bn (USD388.6m) to acquire a 31.83% stake in Sam Kang M&T [100090:KS] and the target company’s KRW116.9bn worth of convertible bonds to be issued, as reported by Korea Economic Daily...

17 Nov South Korea Announces Plan to Develop Hydrogen, Ammonia for Power Generation

Posted at 11:31 by Lexy Li

The South Korean government has announced a plan to introduce hydrogen and ammonia in the fuel mix for thermal power generation, as reported by the Korea Herald on November 16. The country’s Ministry of Trade, Industry, and Energy has also established a council to lead...

17 Nov Hyundai Motor Considers Acquiring South Korean Waste Treatment Firm

Posted at 10:43 by Lexy Li

Hyundai Motor Group’s construction subsidiary, Hyundai Engineering, is bidding for a South Korean waste treatment company owned by KG Group, namely KG Eco Technology Services (KG ETS), as reported by the Korea Economic Daily on November 16, citing people familiar with the matter. Other bidders...

16 Nov POSCO to Invest USD850m in Electrical Steel Plant for EVs

Posted at 14:56 by Jordy Leo

South Korean steelmaking giant POSCO [PKX:US] announced on November 15 in a regular board meeting that the company will ramp up its production of non-grain-oriented electric steel sheet metal by four times, an important material for traction motors of electric vehicles (EV), as reported by...

08 Nov Hyundai Oilbank, Denmark’s Haldor Topsoe to Jointly Develop Eco-Friendly E-fuels

Posted at 17:23 by Una Qu

South Korean refiner Hyundai Oilbank and Denmark’s emission reduction technology developer Haldor Topsoe signed a memorandum of understanding (MoU) on November 4 to join efforts on next-generation eco-friendly synthetic fuel development, as reported by Korea Economic Daily on November 5. The two companies will collaborate...

02 Nov South Korean Biodiesel Leader Daekyung O&T Faces Bids from Major Refiners

Posted at 17:12 by Una Qu

South Korea’s private equity company STIC Investment plans to sell local leading biodiesel material maker Daekyung O&T, with BofA Securities as the underwriter, as reported by the Korean Economic Daily on October 29. South Korean major refiners like SK Innovation [096770:KS], S-Oil Corporation [010950:KS], and...

26 Oct Stellantis Partners with Samsung SDI to Set Up EV Battery JV in US

Posted at 15:35 by Una Qu

Automaker Stellantis N.V. [STLA:US] and South Korean battery maker Samsung SDI [006400:KS] reached a preliminary agreement to set up a joint venture (JV) in the US to produce battery cells and modules for electric vehicles (EVs), as reported by Reuters on October 22. The two...

19 Oct South Korea Scales Up Climate Pledge Ahead of COP26

Posted at 16:13 by Helena Zhu

South Korea has officially scaled up climate ambition and committed to reducing carbon emissions by 40% from 2018 levels by 2030, as reported by Reuters on October 18. The new target was proposed as the country’s revised nationally determined contribution (NDC), as nations are expected...

19 Oct LG Energy Solution, Stellantis to Jointly Produce EV Batteries in North America

Posted at 15:44 by Una Qu

South Korean LG Chem’s [051910:KS] battery subsidiary LG Energy Solution (LGES) and automaker Stellantis N.V. [STLA:US] inked a memorandum of understanding (MOU) to set up a joint venture (JV) in North America to produce electric vehicle (EV) batteries, as reported by the Korea Herald on October 18. Under the MOU, a...

09 Oct South Korea to Boost Domestic Hydrogen Industry with 30 Leading Firms by 2030

Posted at 17:14 by Una Qu

South Korea’s President Moon Jae-in on October 7 announced a goal of building up the country into a leading hydrogen economy in the world, making clean hydrogen as its future growth driver, as reported by the Korean Economic Daily on the same day. The Asian...

28 Sep Hyundai Steel to Recycle Samsung Electronics’ Chip Waste for Steelmaking

Posted at 17:49 by Una Qu

South Korean steel producer Hyundai Steel [004020:KS] and Samsung Electronics [005930:KS] announced on September 27 that the two companies developed a technology to manufacture steel by recycling the latter’s chip waste, as reported by the Korean Economic Daily on the same day. The two parties...

17 Sep South Korean Banking Giants KB, Shinhan Invest KRW80bn in Swedish Wind Farm

Posted at 17:04 by Una Qu

South Korea’s KB Financial Group [KB:US] and Shinhan Financial Group [SHG:US] jointly spent KRW80bn (USD68m) on a 45% stake of Sweden’s Gubbaberget Wind Farm through their Global Green Energy Partnership Fund, as reported by the Korea Economic Daily on September 17. Specifically, KB Kookmin Bank,...

15 Sep South Korean Antitrust Watchdog Investigates Kakao Mobility and Coupang

Posted at 15:17 by Una Qu

South Korea’s Fair Trade Commission (KFTC) has commenced investigations into internet group Kakao’s [035720:KS] ride-hailing unit Kakao Mobility and e-commerce giant Coupang [CPNG:US] for their alleged unfair business practices, as reported by the Korea Economic Daily on September 12. To be more specific, taxi driver...

01 Sep SK Innovation Renames Petrochemical Subsidiary as Plastic Recycler SK Geocentric

Posted at 17:22 by Una Qu

South Korean energy and chemical company SK Innovation’s [096770:KS] petrochemical subsidiary SK Global Chemical (SKGC) has rebranded itself as SK Geocentric, switching its core business from traditional petrochemicals to plastic recycling, as reported by Korea Economic Daily on August 31. The firm plans to invest...

24 Aug Hyundai to Spend USD1.1bn on Building Hydrogen Fuel Cells Factories

Posted at 15:55 by Maria Ma

Hyundai Mobis [012330:KS], South Korean conglomerate Hyundai Motor Group’s auto parts subsidiary, unveiled on August 20 that it would spend USD1.1bn to build hydrogen fuel cell production facilities in Incheon and Ulsan, according to The Korea Economics Daily on the same day. The plant in...