Petrochemical companies generate waste called hydrogen sulfide at their facilities and even pay money to dispose of the highly toxic gas. But what if this unwanted byproduct could be converted into a raw material for green energy? Doug Campbell, co-founder and CEO of Solid Power, one of the world’s most promising advanced battery developers, suggests that solid-state batteries will give new purpose to materials that had been neglected before.   “A company like SK (Innovati

Industry Oct. 31, 2021

SK Innovation enjoyed an operating profit of 618.5 billion won ($529.2 million) in the third quarter, bouncing back from an operating loss of 53.7 billion won on-year, a regulatory filing showed Friday. The South Korean battery-to-petrochemical giant logged revenue of 12.3 trillion won in the July-September period, a 48.1 percent surge from 8.3 trillion won, buoyed by record quarterly sales in both lubricant and battery businesses. According to SK Innovation, two new battery factories in C

Industry Oct. 29, 2021

Hyundai Oilbank is capturing carbon emissions and transforming them into raw materials used for cement and concrete at construction sites, as part of its carbon neutrality commitments. According to Hyundai Oilbank Friday, it will collect byproducts generated from its petrochemical facilities such as desulfurized gypsum and carbon dioxide and turn those waste products into construction materials such as plaster and calcium carbonate. Next year, Hyundai Oilbank will break ground on a productio

Industry Oct. 29, 2021

South Korean IT security solutions provider RaonSecure said Thursday it has won a cyberattack defense competition hosted by the nation’s spy agency, the National Intelligence Service. According to the firm, two teams led by ethical hackers from RaonWhiteHat, a subsidiary that provides consulting services on IT security, ranked No. 1 and No. 2 at 2021 Cyber Conflict Exercise & Contest. CCE is an annual cyberattack defense competition hosted by the NIS. Of 282 participants, 30 of tho

Industry Oct. 28, 2021

SK Innovation and Solid Power will co-develop and produce solid-state batteries that are 33 percent more powerful than conventional lithium-ion batteries, the two companies said Thursday. The South Korean battery-to-petrochemical giant and the US-based battery startup will manufacture solid-state batteries with energy density of at least 930 watt-hours per liter, which would increase the driving range of electric vehicles to 930 kilometers on a single charge. Solid Power is one of the world&

Industry Oct. 28, 2021

Doosan Group said Thursday it has promoted Doosan Corp. President Moon Hong-sung to chief business officer. The newly appointed CBO will be tasked with leading all businesses of Doosan Corp. from hydrogen fuel cells and drones to industrial robots. Before the promotion, Moon served as the chief strategy officer and led new businesses for Doosan Robotics, Doosan Mobility Innovation and Doosan Logistics Solutions at the holding entity Doosan Corp. since earlier this year. Now, key segments such

Industry Oct. 28, 2021

Never trust a skinny chef. The sentiment behind this tongue-in-cheek reference to a chef’s inability to resist his own delicious food applies to most professions, including game developers. Nexon’s Blue Archive, an anime-style role-playing game, immediately stole the hearts of anime fans after its February release in Japan, even ranking as the most popular game on both Google Play and App Store. Perhaps the game’s success was a predestined one, considering it was developed b

Industry Oct. 27, 2021

One by one, electric scooter operators are leaving South Korea, once hailed as a perfect testbed for last-mile mobility innovation. According to industry sources Wednesday, German e-scooter operator Wind, which entered the Korean market in 2019, recently called it quits. Another e-scooter firm Gcooter halted services starting this month in three districts of Seoul -- Yeongdeungpo-gu, Dongjak-gu and Gwanak-gu -- where e-scooters are most frequently towed. As to why they are packing their bag

Industry Oct. 27, 2021

National Assembly Speaker Park Byeong-seug said Tuesday that the global digital and green transformation triggered by the pandemic is a necessary growing pain for South Korea to join the post-COVID world order. In his congratulatory speech delivered at the fourth Korea Herald Biz Forum held at the Shilla Seoul under the theme “Shape of the Future: Trends to rule industries as world rebounds from the pandemic,” the speaker called for business executives, policymakers and opinion l

Industry Oct. 26, 2021

Industry Oct. 25, 2021

LG Corp. Vice Chairman Kwon Young-soo, second in command of LG after Chairman Koo Kwang-mo, will take a post as the new chief of LG Energy Solution. According to LG Energy Solution, it held a board of directors meeting Monday and decided to arrange a shareholders meeting on Nov. 1 to appoint Kwon as the new CEO. Kwon will be tasked with the successful management of joint ventures with major automakers including General Motors, Hyundai Motor and Stellantis as well as the delivery of a massive

Industry Oct. 25, 2021

SolidEnergy Systems will unveil next-generation lithium-metal battery cells big enough to power electric vehicles next month, the Singapore-based battery firm said Monday.  Large-size prototypes of the cells, not small samples made inside labs, will be presented at the inaugural Battery World, an event the company organizes to showcase its latest products. It will kick off at 11:00 a.m. on Nov. 4, Seoul time, and SolidEnergy Systems CEO Dr. Qichao Hu will appear. “It took us 10 ye

Industry Oct. 25, 2021

Posco Chemical will supply cathodes and anodes, two crucial components of electric vehicle batteries, to Norwegian battery manufacturer Morrow Batteries, accelerating its push to expand its footprint in the European market. According to the refractory and secondary battery materials arm of South Korean steel giant Posco, the cathodes and anodes will go inside the batteries to be mass-produced by Morrow Batteries starting 2024, as part of an agreement signed by the two firms on Thursday. Morr

Industry Oct. 25, 2021

To take initiative in the premium electric vehicle market, where longer driving ranges serve as the barometer of competitiveness, the South Korean battery trio -- LG Energy Solution, Samsung SDI and SK On -- in recent years focused on developing more powerful lithium-ion batteries, pushing the limits of nickel ratio to the extreme. However, their unwavering faith in lithium-ion technology is being tested, after market leader Tesla announced on Wednesday that it will use a cheaper, safer alterna

Industry Oct. 24, 2021

Vinssen, a South Korean company that manufactures hydrogen powertrains for ships, said Friday it has joined hands with local partners to utilize liquid ammonia to power ships. The company, which unveiled the country’s first commercialized hydrogen electric boat at Busan International Boat Show this year, will collaborate with the Korea Institute of Energy Research and domestic engineering firm CES to develop technologies and equipment to break ammonia into hydrogen, which then can be uti

Industry Oct. 22, 2021