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1 week ago | 
kedglobal.com | Sang-Hoon Sung |Woo-Sub Kim |Jin-Won Kim
LG Energy Solution Ltd. has secured a string of billion-dollar energy storage system (ESS) deals in Japan and Europe, outmaneuvering Chinese rivals in a rare breakthrough for a South Korean battery maker in traditionally China-dominated markets. LG Energy has signed a contract to supply more than 2 gigawatt-hours (GWh) of lithium iron phosphate (LFP) batteries to Japan’s Omron Corp. over five years, starting at the end of this year, people familiar with the matter said on Tuesday.
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1 week ago | 
kedglobal.com | Sang-Hoon Sung |Jin-Won Kim
As order books swell due to green shipping mandates, LNG demand and military naval modernization, South Korean shipbuilders are extending their global reach by utilizing overseas dockyards.
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3 weeks ago | 
kedglobal.com | Jeong-Soo Hwang |Ji-hye Min |Sang-Hoon Sung
South Korea’s two leading electronics makers – Samsung Electronics Co. and LG Electronics Inc. – are being forced to reassess their global manufacturing strategies following the US government's imposition of a 46% tariff on products manufactured in Vietnam. With Vietnam serving as the key production hub for Samsung and LG in Asia and globally, the tariff poses significant challenges for both companies, analysts said.
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1 month ago | 
kedglobal.com | Jin-Won Kim |Sang-Hoon Sung
South Korea, home to the world’s leading battery makers such as LG Energy Solution Ltd., SK On Co. and Samsung SDI Co., is seeking to enact laws to lay the legal groundwork for offering subsidies to its battery makers. According to industry sources on Thursday, lawmakers are working on a bill to introduce direct subsidies for domestic battery manufacturers – something similar to the US Advanced Manufacturing Production Credit (AMPC).
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Jan 24, 2025 | 
kedglobal.com | Woo-Sub Kim |Sang-Hoon Sung |Hyung-kyu Kim
South Korea’s four major oil refining companies will jointly build a sustainable aviation fuel (SAF) plant in the country and the government is considering offering subsidies and tax cuts on the construction, according to industry sources on Friday. SK Innovation Co., GS Caltex Corp., S-Oil Corp.
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Jan 9, 2025 | 
kedglobal.com | Sang-Hoon Sung
LAS VEGAS – SK Hynix Inc., the world’s second-largest memory chipmaker, has agreed to collaborate with Nvidia Corp. on the top US AI chip designer’s Cosmos platform that’s designed to advance the development of physical AI systems. Chey Tae-won, chairman of SK Group, the parent of the Korean chipmaker, said he discussed ways to deepen AI cooperation between the two partners with Nvidia Chief Executive Jensen Huang during their meeting on Wednesday.
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Dec 10, 2024 | 
kedglobal.com | Sang-Hoon Sung
South Korean solar cell company OCI Holdings Co. said on Tuesday it has signed a deal with US power supplier CPS Energy to jointly build a 120-megawatt solar cell plant and a related battery energy storage system (BESS) with a 480 MWh storage capacity in Texas. OCI said it will take care of the project’s development and financing. The Korean company’s US affiliate OCI Energy will be the battery facility’s owner and operator.
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Nov 18, 2024 | 
kedglobal.com | Sang-Hoon Sung
South Korea’s LG Energy Solution Ltd. said on Monday it has signed an initial agreement to supply cylindrical battery cells to Bear Robotics Inc., a Silicon Valley-based serving robot maker. Under the memorandum of understanding, LG will become the exclusive supplier of 2170-type cylindrical batteries to power the US startup’s flagship robots, such as Servi Plus and Carti 100, starting next year.
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Nov 10, 2024 | 
kedglobal.com | Sang-Hoon Sung |Hyung-kyu Kim
SpaceX, a spacecraft manufacturer led by Elon Musk, will use LG Energy Solution Ltd.'s batteries for its next-generation Starship rocket in its first long-term battery purchase from a third-party company, according to industry sources on Sunday. The US company has recently signed a contract with LG Energy for cylindrical lithium-ion batteries tailored to the Starship flight expected to be launched as early as 2025, the sources told The Korea Economic Daily.
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Oct 31, 2024 | 
kedglobal.com | Sang-Hoon Sung
South Korean solar cell companies such as Hanwha Q Cells Co. and OCI Holdings Co. are set to benefit from expanded subsidies covered by the US CHIPS and Science Act. According to industry sources on Thursday, the US Treasury plans to implement the revised CHIPS Act on Dec. 23, offering solar cell companies subsidies to cover 25% of the cost of setting up solar ingot and wafer factories in the country.
