The Chinese government has allowed subsidies for electric vehicles equipped with South Korean batteries, lowering the threshold for foreign battery makers.　 According to the Korean Embassy in Beijing on Friday, Tesla’s China-made Model 3 EV sedan and Chongqing Jinkang’s pure electric SUV -- equipped with LG Chem and Samsung SDI batteries -- have been included on a whitelist for new energy vehicle subsidies announced March 6 by the Ministry of Industry and Information Technology of

Industry March 23, 2020

South Korean aircraft manufacturer KAI said Monday that the US Air Force is planning to rent a small number of KAI’s advanced T-50A trainer jets until new trainer jets arrive from Boeing, the winner of the T-X trainer contest. According to a notice posted online by the US General Services Administration in January, the US Air Combat Command plans to contract Hillwood Aviation to provide four to eight of KAI’s T-50A Golden Eagle advanced jet trainer aircraft to help its aviators de

Industry March 23, 2020

A significant portion of South Korea’s renewable energy is generated by a controversial material that emits more greenhouse gas than coal, government data showed, raising concerns over the sustainability of the domestic green industry. According to the Korea Energy Agency, compressed organic matter or biomass generated 6,620,283 megawatt hours of electricity in 2018, up 80 times from 83,015 MWh in 2012. Biomass accounted for 12.5 percent of total electricity generated by renewable ener

Industry March 22, 2020

Coupang has introduced new plans to boost the safety of its delivery personnel as of Friday. Coupang said it will provide remote health counseling service to all of its Coupang deliverymen and have their health checked by visits from health professionals on a regular basis. The company added that it will provide emergency care service for its deliverymen if they are confirmed with the coronavirus or under self-quarantine. Also, safety mangers will be deployed at all c

Industry March 20, 2020

LG Chem’s shareholders meeting this year posed a real challenge to the company as attendees braved to gather amid the coronavirus outbreak at an auditorium in Twin Tower headquarters in Yeouido, western Seoul, Friday. The involved three steps: wearing masks first cleaned their hands with hand sanitizer, had their temperatures checked with a hand-held noncontact infrared thermometer and had to pass the final stage of a thermal imaging camera. Due to reinforced safety efforts amidst the

Industry March 20, 2020

STM, a subsidiary of South Korean battery manufacturer Samsung SDI, has bagged a deal to sell electric vehicle battery materials to Cosmo Advanced Materials & Technology. According to industry sources, STM sold its precursor production line to Cosmo AM&T. The negotiation over the deal had been in process since last year. The size of the deal is unknown. A lithium-ion battery is composed of four main parts: cathode, anode, electrolyte and separator. Precursors are an intermediate pr

Industry March 20, 2020

The Australian subsidiary of South Korean defense company Hanwha Defense has launched a web portal as part of an effort to supply military land systems to the Australian Defense Force. Recently, Hanwha Defense Australia opened Australian Industry Portal as foreign defense contractors are required to outline how they would contribute to Australia’s defense activities and how they would cooperate with local companies, according to Hanwha Defense. The AIP is expected to support Hanwha&rs

Industry March 19, 2020

Samsung SDI President Jun Young-hyun said Wednesday he would focus on pioneering overseas energy storage systems market and investing in the company’s second battery plant in Hungary. At the general shareholders meeting held in Seoul, Jun Young-hyun handpicked ESS and electric vehicle batteries as the company’s main agenda. “This year, the focus is on overseas ESS business and investment in the second EV battery plant in Hungary,” Jun said at the meeting. The batte

Industry March 19, 2020

Korean instant noodle maker Nongshim has become one of the greatest beneficiaries of big Oscar winner “Parasite,” thanks to the global “Chapaguri” popularity. Chapaguri -- translated as “ram-don” in the English subtitles -- is a hybrid instant noodle dish mixed with Chapaghetti black bean instant noodles and soup-based Neoguri ramen, both of which are manufactured by Nongshim. According to Nongshim, sales of Chapaghetti -- long a staple in Korean kitchen

Industry March 18, 2020

The United Kingdom’s Ministry of Defense has selected Doosan Babcock, the British subsidiary of South Korea’s Doosan Heavy Industries & Construction, as one of its nuclear technical support providers. According to the Defense Infrastructure Organization last Wednesday, three suppliers have been selected to join Britain’s nuclear technical support provider framework. One is a consortium comprising Doosan Babcock and two other companies, KBR and Assystem. The other support

Industry March 18, 2020

The delivery of Hanwha Defense’s K-9 self-propelled guns in India with technological support from the Korean company has been made several months ahead of schedule, according to industry sources. Hanwha Defense shipped the first batch of 10 guns to the Indian Army in November 2018 on schedule, upon which 41 guns of the K-9 Vajra -- a modified version of Hanwha Defense’s K-9 155-mm 52-caliber -- have been manufactured and supplied two to three months ahead of schedule, according to

Industry March 18, 2020

South Korean chemical firm SKC said Monday it has secured about 1 trillion won ($814.9 million) by liquidating its stake in its chemical business to expand investment in mobility and chip businesses. SKC said Monday it has transferred a 49 percent stake in its chemical business to Petrochemical Industries Company in Kuwait and received 565 billion won Tuesday. The move will create a joint venture SK picglobal and both companies will cooperate to establish a production capacity of 100 metric

Industry March 16, 2020

A deliveryman was found dead while working after midnight for Coupang. The exact cause of death is not known. According to the Korean Public Service and Transport Workers’ Union on Sunday, the 46-year-old contract worker, surnamed Kim, was found Thursday around 2 a.m. between the fourth and fifth floors of a residential building in Ansan, Gyeonggi Province. The building had no elevator. “Due to the COVID-19 outbreak, deliveries of heavy daily necessities such as rice, drinking wa

Industry March 16, 2020

The Korea International Trade Association is bolstering remote online export platforms to help domestic companies facing difficulties in export to find new export channels amid the coronavirus outbreak. The KITA said Sunday it has shifted its marketing efforts to the online sphere, strengthening its online business-to-business and business-to-consumer export platforms as series of offline export marketing events have been canceled or delayed by the worsening COVID-19 outbreak. According to

Industry March 15, 2020

Hyundai Motor said Sunday it has signed a $60 million bus supply deal with Turkmenistan. It has signed a contract with Turkmenistan’s Ministry of Transport to supply 400 New Super Aero City buses, the South Korean automaker said. It is Hyundai’s second-biggest single overseas deal, after a $66 million order for 500 units in 2016. The New Super Aero City bus features upgraded functions compared to previous models, including rear-view camera and rear cross-traffic alert function

Mobility March 15, 2020