LG Chem said Tuesday it will create an environmental, social and governance business model that encompasses the entire life cycle of plastic -- from its production and use to retrieval and recycling. According to South Korea’s leading chemicals firm, it has joined together with zero-waste packaging startup Innerbottle to establish an eco-friendly platform where residents can simply put empty plastic containers of beauty products inside a bag outside their doors and let a worker pick th

Industry July 20, 2021

Samsung Electronics on Monday announced the global launch of a commercial version of its Micro LED display “The Wall” where customers can customize the size of the display even larger than 1,000 inches. According to the South Korean tech giant, The Wall IWA, despite its vast size, supports high-definition images thanks to enhanced upscaling capabilities. “The latest model is mounted with artificial intelligence processor chips each comprised of 16 neural networks that can

Industry July 19, 2021

SpaceX will send South Korea’s next-generation midsize satellite into orbit in 2023, Korea Aerospace Industries said Sunday. KAI, the nation’s sole aircraft manufacturer, which developed KF-21 fighters, plans to launch four midsize satellites by 2025 -- No. 2 in 2022, No. 3 and No. 4 in 2023 and No. 5 in 2025. SpaceX rocket will carry the No. 4 into orbit, which will monitor Korean agriculture. KAI selected SpaceX in an open bidding. Though the launch will take place in the US,

Industry July 18, 2021

Amid the global transition to clean fuel, conventional oil and gas companies appear to have found a way to stay relevant: blue hydrogen. Hydrogen, typically produced by breaking methane inside liquefied natural gas into hydrogen and carbon, is labeled as blue, when all carbon emissions from this process are captured, stored, or reused. This decarbonized hydrogen offers the oil and gas companies a path toward clean fuels while drawing on their existing gas production, transportation and sto

Industry July 18, 2021

LG Electronics said Sunday that it will shift to renewable energy for 100 percent of its needs by 2050, doubling down on its previous pledge to go carbon neutral by 2030. According to the South Korean tech giant, the transition will begin at its North American headquarters in Englewood, New Jersey, which will switch entirely to electricity generated by renewables by the end of this year. All its overseas production bases will follow suit by 2025. This will allow LG Electronics to source 50

Industry July 18, 2021

SK Innovation will receive subsidies worth 90 million euros ($106.2 million) from the European Union for its second battery factory in Hungary, the firm said Sunday. According to the South Korean battery-to-petrochemical giant, the state aid will take up roughly 8 percent of the total investment worth 945 billion won ($827.1 million) required for the 10-gigwatt-hour battery factory under construction in the northwestern Hungarian city of Komarom. The facility is set for completion this year a

Industry July 18, 2021

The European Union’s sweeping plans, announced Wednesday, to cut emissions are expected to hurt South Korea’s steel and other carbon-intensive industries, experts and industry officials said Thursday. The EU announced a comprehensive climate package that revolves around three key proposals: imposing tariffs on carbon-intensive imports starting 2026; banning the sales of cars running on fossil fuels starting 2035; and forcing clean fuel in the aviation and maritime sectors. What

Industry July 15, 2021

LG Chem on Wednesday announced plans to invest 10 trillion won ($8.6 billion) over the next four years in battery materials, eco-friendly plastics and new drug development. “LG Chem is no longer a petrochemical company. More than 30 projects including mergers and acquisitions, joint ventures and strategic investments are currently under review to reshuffle the business portfolio,” Vice Chairman Shin Hak-cheol said during an online press conference. Nearly 6 trillion won of the

Industry July 14, 2021

Samsung SDI and LG Energy Solution have finished developing samples of larger and more powerful “4680” battery cells, a type first presented by Tesla last year, in an apparent effort to win contracts from the global electric vehicle leader, a source said Tuesday. “Samsung SDI and LG Energy Solution have developed samples of cylindrical 4680 cells and are currently conducting various tests at their facilities to verify their structural integrity. Also, they have provided spe

Industry July 13, 2021

삼성SDI와 LG에너지솔루션이 미국 전기차업체 테슬라의 모델Y용 차세대 4680 배터리 셀의 샘플 개발을 완료하면서 향후 수주 가능성에 관심이 쏠리고 있다. 13일 전기차 배터리 업계에 따르면 양 사는 4680 배터리 셀 샘플 개발을 마무리하고 현재 테슬라에 납품하기 위한 준비 중에 있다. 한 업계 고위 관계자는 코리아헤럴드와 만나 삼성SDI와 LG엔솔이 “4680 원통형 셀 샘플의 완성도를 검증하기 위해 다양한 테스트를 진행 중”이며 “이미 협력사들에게 제품 관련 스펙을 전달했다”고 말했다. 삼성SDI는 4680셀 개발 사실 자체를 여러 차례 부인해왔다. 전영현 삼성SDI 사장은 지난 3월 주주총회에서 4680 셀 개발 여부를 묻는 본지의 질문에 “기존 2170 셀 보다 큰 차세대 배터리를 개발하고 있으나, 꼭 4680 셀을 의미하는 것은 아니다”라며 구체적인 사양을 밝히지 않았다. 지난 5월

한국어판 July 13, 2021

South Korea’s state-run Korea Gas Corp. has signed an agreement with Qatar to purchase an additional 2 million metric tons of liquefied natural gas for 20 years starting from 2025, the Ministry of Trade, Industry and Energy said Monday. Qatar supplies 9 million tons of LNG to Korea annually through multiple long-term deals with Kogas, the country’s sole LNG wholesaler. In 2024, contracts worth 4.9 million tons will end. The new deal starting from 2025 will make up for some of tho

Industry July 12, 2021

It has been some time since wireless charging became a part of the everyday life of smartphones users, which begs the question: Could the same be possible for electric cars? In the early 2010s, a team of South Korean researchers took up this question seriously and developed what’s called the online electric vehicle system, enabling cars to source power from the very roads they drive on. In August 2013, the Korea Advanced Institute of Science and Technology team led by professor Yoon

Industry July 12, 2021

If batteries end up in landfills, it defeats the purpose of buying electric vehicles for the sake of the environment, which is why battery recycling is getting so much attention. But establishing a circular economy for spent electric vehicle batteries is not an easy task and can’t be compared with doing so for plastic bottles. Due to their complex structures, disassembly can only be done manually, entailing high labor costs and serious safety risks. Inside an EV, battery parts fit to

Industry July 11, 2021

South Korea on Thursday unveiled an ambitious plan to consolidate its leadership in the white-hot battery industry, which included a plan by companies to inject over 40 trillion won ($34.9 billion) by 2030 as well tax incentives and other support from the goverment. Dubbed the “K-battery strategy,” the public-private plan resembles one announced in March for the chip industry as Asia’s fourth-largest economy looks to sharpen its competitive edge in the face of growing chall

Industry July 8, 2021

Posco Chemical will establish a new cathode plant with an annual production of 60,000 metric tons in Pohang, North Gyeongsang Province, the company said Thursday. According to the refractory and secondary battery materials arm of South Korean steel giant Posco, it will invest 600 billion won ($524.1 million) starting next year to construct the cathode plant on a 120,000-square-meter site inside an industrial complex of the coastal city. Once completed, the Pohang plant will be Posco Chemic

Industry July 8, 2021