Lee is a 61-year-old taxi driver in Seoul. He takes pride in being able to support his two kids, who both speak four languages, and his wife, who gives piano lessons at an elementary school. But there is also something else he finds satisfaction in -- his car that runs on hydrogen. After spending his whole life working for Hyundai Mobis, an auto parts arm of Hyundai Motor Group, the retiree now drives a Nexo -- Hyundai’s hydrogen fuel cell powered SUV. Lee, who preferred not to give his

Posco Chemical said Monday it would supply anodes to Ultium Cells, a joint venture established by LG Energy Solution and General Motors in 2019. The refractory and secondary battery materials arm of South Korean steel giant Posco, it will provide anodes to Ultium Cells’ electric vehicle battery manufacturing facility in Ohio, which is set to begin the mass production of NCMA (nickel, cobalt, manganese, aluminum) batteries that contain 90 percent nickel starting this year. “Thanks

From flying cars to private satellites, the paradigm of global aerospace industry is shifting faster than ever. After SpaceX ushered in the dawn of the “new space” age, private players are now making an aggressive foray into the space industry, which had been dominated by governmental agencies. At this turbulent time, Korea Aerospace Industries, the nation’s sole aircraft manufacturer, aims to capture new opportunities in order to rise as Asia’s No. 1 aerospace comp

The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance, or ESG, issues, which have become central factors globally in measuring the sustainability of an investment or business decision. -- Ed.  One electric vehicle charger installed at a service station in Seoul generates no more than 100,000 won ($88.1) in revenue per month. After electricity bills are paid and

Hanwha Systems, the affiliate spearheading Hanwha Group’s space and defense IT business, will set up its first US office, according to industry sources Friday. At its board meeting held March 23, the company decided to establish the US office within this year to add momentum to its space business. Candidate locations include Connecticut, where Hanwha Systems’ parent company Hanwha Aerospace has an office, and the state of Washington, where local satellite companies are clustered.

The US International Trade Commission on Thursday ruled in favor of SK Innovation in its battery patent case against LG Energy Solution, in an unexpected twist in the legal battle. In its preliminary decision, the ITC said SK had not infringed on any of LGES’ four battery patents in a case that was filed by LGES in September 2019. This is separate from the battery trade theft case, in which the ITC sided with LGES and slapped SKI with a “devastating” 10-year business ban in t

South Korean energy company GS Caltex was among the companies behind the launch of a new oil exchange in Abu Dhabi, United Arab Emirates, to help secure a more stable and transparent supply of Middle East crude. Launched Monday, the new International Exchange Futures Abu Dhabi, or IFAD, has listed the Middle Eastern nation’s flagship Murban crude and started trading Murban crude futures. GS Caltex joined global oil majors BP, Total, Inpex, Vitol, Shell, PetroChina to support its incepti

Hanwha Q Cells said Tuesday it has filed a patent infringement lawsuit against Chinese solar company Astronergy in Germany. The lawsuit, filed on March 12 with German court, accuses Astronergy of stealing Hanwha’s patented technology that enhances the efficiency of solar cells. The legal action is the latest from Hanwha against Chinese competitors. Previously it sued three firms -- Jinko Solar, LONGi Solar and REC -- in March 2019. Last June, Germany’s Dusseldorf District Court r

SK Innovation’s battery recycling technology has been verified by Argonne National Laboratory, a research institute under the US Department of Energy, the company said Monday. According to SKI, the technology extracts metals inside used-up lithium-ion batteries for electric vehicles. Lithium retrieved with this technology emits 74 percent and 41 percent less greenhouse emissions compared to that produced from mines and salt lakes, respectively, according to Argonne National Laboratory&r

Hyundai Oilbank said Monday that it will expand its Blue Clean campaign to seek solar and hydrogen transition throughout its value chain -- from logistics centers to service stations. Blue is Hyundai Oilbank’s brand color. According to the South Korean refinery, it will install solar power generation facilities at leftover spaces inside logistics centers where petrochemical products are shipped in and out. “The logistics centers consume a huge amount of electricity. Hyundai Oilb

Public distrust is running high over the safety of high-nickel lithium-ion batteries after a series of electric vehicle recalls by renowned automakers including Volkswagen, BMW, Renault, General Motors, Ford and Hyundai Motor. Amid growing concerns, lithium iron phosphate batteries -- LFP batteries, which use iron instead of nickel -- have emerged as a safer alternative, though they are less powerful than high-nickel batteries. But despite the widespread belief that high-nickel batteries a

Samsung SDS President and CEO Hwang Sung-woo urged the company to realign itself into a cloud-based business platform that focuses on logistics and security services. “It is now time for Samsung SDS to transform into a true cloud company. Let us concentrate all strengths on cloud, logistics and security,” Hwang said Friday in an email sent out to staff and executives. Marking his first official message since taking office last December, Hwang made it clear that cloud-based busine

SK Innovation said it cannot accept rival LG Energy Solution’s demands for damage compensation it suffered after its battery technologies were stolen, dragging on an already drawn-out settlement dispute involving the two battery makers. The corresponding remark came during the company’s annual shareholders meeting on Friday and also in the wake of LGES’ vow on the previous day that it will fight to receive reasonable compensation from SK. At the 14th shareholders meeting hel

LG Corp., the holding firm of South Korea’s fourth-largest conglomerate by assets LG Group, received approval from shareholders on Friday to set up another parent entity as part of the conglomerate spinoff plan. Set for launch on May 1, LX Holdings will take four non-electronics affiliates with promising outlooks -- LG International, LG Hausys, LG MMA and Silicon Works under its umbrella. LG Corp. will keep electronics, chemicals and communications businesses and focus on future growth e

Daewoo Shipbuilding & Marine Engineering said Friday it launched a shipyard simulation system based on a game engine for optimized operations. According to DSME, it utilized the Unity game engine and constructed a 3D version of its actual shipyard. Inside the simulated space, DSME developed an algorithm that provides optimized transporter routes and block assembly. DSME aims to further advance the simulation system by applying cloud computing and machine learning technologies. Also, th

SK Innovation took a CT scan of LG Energy Solution’s electric vehicle batteries in a potential attempt to use it in its legal dispute with the local rival, industry sources told The Korea Herald. SK Innovation requested a research facility in South Korea to take CT images of its own batteries and LG Energy Solution’s. This was while their battery trade secret case was ongoing in the US. “SK Innovation took the images to compare the inner structures of its pouch-type batte

South Korea will nurture the local industry for next-generation power chips as a new strategic investment for future chip leadership, the government said Thursday. At the seventh meeting on innovative growth, the Ministry of Trade, Industry and Energy unveiled a blueprint that contains measures to establish an ecosystem for next-generation power chips ranging from key technologies to product development and mass production. Built to handle high voltages and large currents without damage, p

S-Oil donated 100 million won ($88,200) in total for 10 single-parent households with members who had suffered burn injuries. According to the South Korean refinery, it delivered the donation to the Hallym Burn Foundation at a ceremony at the Hallym University Medical Center on Thursday. Each of the 10 households will receive 10 million won. This is the first donation S-Oil has made to assist burn victims. Established in 2008, the Hallym Burn Foundation helps burn patients with medical and r

In a notable shift of tone, senators in the US state of Georgia have called on LG Energy Solution and SK Innovation to resolve their battery patent disputes on their own. According to media reports Wednesday, the Georgia Senate unanimously passed a resolution on Tuesday US time, which calls on two battery makers to negotiate a settlement so that SK could continue building two battery factories in the state. A draft of the resolution had reportedly been directed toward President Joe Biden,

LG Chem said Tuesday it is working with a local start-up to launch a door-to-door plastic retrieval service. South Korea’s leading petrochemical company signed an agreement with zero-waste packaging provider Innerbottle to start a service where residents can simply put plastic waste inside a bag outside their doors and let a worker pick them up. “For example, if a customer orders a cosmetic product from a brand that uses Innerbottle’s plastic container, an eco-bag will be s