Experts warn that blue hydrogen may be more harmful than coal for its links to gas more toxic to the Earth

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

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

Renault Samsung Motors Corp. will temporarily suspend production at its plant in the southeastern port city of Busan due to shortages of chips for vehicles, the company said Sunday. The South Korean unit of Renault S.A. will close down its plant in Busan, 453 kilometers southeast of Seoul, on Monday for two days, it said. It will be the first time that the Renault Samsung plant has been shut down due to chip shortages, though rivals Hyundai Motor Co., Kia Corp. and GM Korea Co. have suspended

South Korea's SK Innovation Co. will receive incentives worth 90 million euro ($106 million) from the Hungarian government for investing in the country with a project to build a battery plant, the company said Sunday. The energy and chemical subsidiary of the nation's No. 3 conglomerate, SK Group, has been constructing its second battery plant in Europe with an annual production capacity of 10 gigawatt hours in Komarom, a northwestern city of the European country, the company said. SK Innovati

Starting with the Wrangler 4xe, Jeep will bring at least one electrified vehicle annually in South Korea from this year onward, the brand’s chief executive officer said, expressing determination to meet their goal for a carbon-free future. Holding a media roundtable Wednesday, Christian Meunier touted the auto company’s record sales in four countries -- South Korea, Japan, Australia and India -- and said it plans to introduce more electrified vehicles into the markets. The press e

South Korea‘s exports of antibody test kits increased for two consecutive months this spring, according to the Korea Customs Service’s data, Friday. Exports of COVID-19 test kits, however, are expected to decrease in the future due to international vaccination efforts, local industry sources alerted. The country‘s exports of antibody test kits in June marked $353.3 million, up 12.7 percent from $313.5 million in May, according to the data. South Korea’s exports of re

Samsung Electronics is considering Williamson County in Texas as a possible site for its new foundry plant in the United States, according to industry sources on Friday. The South Korean tech giant confirmed that it is looking at Williamson County in Texas as a potential candidate among various sites across the US. The sources said Samsung is considering several sites in the US, such as Arizona, New York, and Austin, Texas. Earlier, Reuters reported that Samsung has applied for tax incen

South Korean food manufacturing company Ottogi announced on Friday it will raise its instant ramen prices by an average of 11.9 percent from next month. The company cited rises in ingredient prices, including flour and palm oil, as well as the increasing labor costs as reasons behind the decision. The decision to hike the ramen prices comes more than 13 years after the company‘s last price rise back in April 2008. Jin Ramen, one of the Ottogi’s flagship instant noodle products, w

Asiana Airlines shares resumed trading on Friday, nearly two months after the airline and its affiliates’ shares were suspended following criminal charges surrounding former management in late May. The airline’s stock price briefly soared to 21,450 won during Friday trading before dropping to 18,600 won later in the day. The Korea Exchange’s decision to temporarily suspend the airline’s stocks came after the arrest of former Kumho Asiana Group Chairman Park Sam-koo on s

The legal battle between US-based streaming giant Netflix and South Korea’s internet service provider SK Broadband is likely to continue centering on the controversial topic of net neutrality. Netflix on Thursday appealed a Seoul court’s decision that sided with SK Broadband. Last month, the Seoul Central District Court dismissed a request from Netflix that the video streaming service operator is not liable to pay network usage fees to SK Broadband. The court also rejected Ne

Budget carrier Air Premia Co. has obtained government approval for its operations amid the extended COVID-19 pandemic, the transport ministry said Friday. The ministry issued an air operator certificate (AOC) to Air Premia to allow it to use aircraft for commercial purposes. "Air Premia needs to report its routes to the aviation authority before it begins flight services," a ministry official said. Air Premia plans to start services on mid-and long-haul routes initially with a 309

SK hynix Inc., South Korea's No. 2 chipmaker, is expected to deliver strong second-quarter earnings, analysts here said Friday, due to a rise in memory chip prices. SK hynix was estimated to log 9.92 trillion won ($8.6 billion) in sales in the April-June period, up 15.3 percent from a year earlier, while its operating profit was projected to reach 2.76 trillion won, up 41.8 percent from a year ago, according to the data from 11 local brokerage houses compiled by Yonhap Infomax, the financial n

Hankook Tire & Technology Co., the world's sixth-largest tiremaker by sales, said Friday it began supplying tires for BMW's high-performance X3 M and X4 M models this year. Hankook Tire has provided the high-performance Ventus S1 evo Z tires for the performance SUV models since the first half, the company said in a statement. BMW M is one of the world's three major sports racing brands, along with Mercedes-Benz's AMG and Audi's Renn Sport (RS) brands. To enhance its global brand image,

Multinational carmaker Stellantis Group said Friday it will bring six electrified models to South Korea by 2026 as it aims to get a share of the emerging local EV market.   Stellantis is a 50:50 joint venture recently set up through the merger of U.S. carmaker Fiat Chrysler Automobiles N.V. and French automaker PSA Groupe.  This year, Stellantis plans to introduce the Wrangler 4xe plug-in hybrid electric vehicle in the Korean market and five other electrified models in the nex