Hanwha Q Cells, a solar solutions unit of South Korean conglomerate Hanwha Group, said Thursday it has completed the construction of a 168-megawatt solar power plant in the United States. Hanwha Q Cells said its US unit has recently begun operation of the solar farm in Fannin County, Texas, which is enough to power about 30,000 households a year. It is the second solar plant with over 100 MW capacity built in Texas, following a 235 MW facility in 2018, the firm said. Hanwha Q Cells has been expa

Genesis, the luxury brand of Hyundai Motor Co., on Thursday unveiled the GV60, its first electric car built on a dedicated EV platform, ahead of its local launch later this year. The GV60 SUV is equipped with a 77.4 kilowatt-hour battery and can travel up to 451 kilometers on a charge, Hyundai said in a statement. The GV60 has three available options: rear-wheel drive, four-wheel drive and four-wheel performance version. It is priced at 60 million won to 70 million won ($50,000-$60,000). Hyundai

Global steelmakers will come together to find ways to decarbonize steelmaking in a forum organized by Posco, the South Korean steel giant said Wednesday. The Hydrogen Iron & Steel Making Forum 2021, set to take place from Oct. 6-8 on both offline and online channels, is expected to provide a platform for industrywide discussion for major players around the world to join the global movement to reduce carbon emissions. “Hydrogen-based steel production technology is yet to be realize

Korea’s mobile carriers to accept preorders for the iPhone 13 from Friday, with the official release date slated for Oct. 8

US-based content streaming giant Netflix has generated economic effects in South Korea worth 5.6 trillion won ($4.73 billion) and created 16,000 local jobs since its 2016 entry here, the company said Wednesday. At its first event for its Korean partners, the firm released a report written by Deloitte on the effects of its presence and investment in the country. Netflix commissioned the study. Since it launched here in 2016, the company has invested about 770 billion won in domestic content

The South Korean government has confirmed Wednesday that it will launch the country’s first fully domestically developed satellite launch vehicle Nuri on Oct. 21 as scheduled. The Ministry of Science and ICT said the rocket, also known as Korean Space Launch Vehicle II, will blast off at 4 p.m. from the Naro Space Center in Goheung, South Jeolla Province. The time, however, could be slightly changed in accordance with weather conditions, an official from the ministry said. The official

South Korean biopharmaceutical firm GC Pharma is in talks with Janssen  to sign a contract manufacturing deal for Janssen’s COVID-19 vaccine, according to industry sources Wednesday. The sources said Janssen conducted a site inspection of GC Pharma’s drug manufacturing facility in Ochang, North Chungcheong Province, this month. The inspection was said to have gone without any particular issues. GC Pharma, however, has remained silent on rumors of a potential deal with the ph

Rules and regulations tend to change too quickly in South Korea without adequate input from stakeholders, often leaving foreign companies doing business here perplexed, the chief of the European Chamber of Commerce in Korea said Wednesday. “In many instances, the new policies lack the adequate evaluation on whether they will have the desired effect without unintended consequences,” Dirk Lukat, chairperson of the ECCK, said at an online press conference. The chief and other senio

Breaking compact car stereotype, Casper packs many charms for young drivers

Energy Vice Minister Park Ki-young (front center) poses with representatives of member companies of the Energy Alliance, a private sector-led association launched in April, at Lotte Hotel in Seoul on Wednesday.  The event, which was the group’s first meeting with the government, was attended by GS Energy CEO Hur Yong-soo, Posco Energy CEO Jeong Ki-Seop, Hanwha Energy CEO Jung In-sub, Hyosung Vice President Hwang Yoo-eon, Doosan Fuel Cell CEO Yoo Soo-kyung, DL Energy Vice Chairman a

Amid growing calls for regulating thriving digital platform businesses, South Korea’s top policymaker on technology and science called for a shift in perspective, saying they should be seen as innovators rather than a target for regulation. Minister of Science and ICT Lim Hye-sook made the remarks while meeting executives of Korea’s leading platform companies, including Naver, Kakao, Woowa Brothers and Yanolja. It was the first time that the ministry organized such a meeting with

LG Electronics Inc. is likely to report solid third-quarter earnings, analysts said Wednesday, as its mainstay home appliance business is expected to offset a slump from vehicle components and B2B units. The South Korean tech giant was projected to log a record 18.3 trillion won ($15.4 billion) in sales in the July-September period, up 8.2 percent from a year earlier, on a consolidated basis, while its operating profit was estimated to jump 16.9 percent on-year to 1.1 trillion won over the perio

Three South Korean electric vehicle (EV) battery makers accounted for about a third of the global market in the first eight months of the year, but they are facing toughening competition with Chinese rivals, a market research firm said Thursday. The trio -- LG Energy Solution Ltd., Samsung SDI Co. and SK Innovation Co. -- accounted for 34.8 percent of the global EV battery market in the January-August period, inching down from 35 percent a year ago, according to the data from SNE Research. LG En

Retail sales in South Korea moved up 6.4 percent in August from a year earlier, data showed Wednesday, as people continued to purchase more food and groceries online amid the new wave of the COVID-19 pandemic. The combined sales of 25 major offline and online retailers reached 12.6 trillion won ($10.6 billion) last month, compared with 11.9 trillion won tallied in the previous year, according to the data compiled by the Ministry of Trade, Industry and Energy. Sales from offline stores moved up 2

South Korea has started the process for countering Britain's extension of safeguard measures against its steel exports, the trade ministry said Wednesday. In July, Britain extended its safeguard measures against steel imports from South Korea for another three years together with the European Union. South Korea and Britain have been in talks to resolve the dispute, but they have failed to iron out differences, prompting Seoul to move to seek a countermeasure. The ministry said Seoul has recently