Tag: South Korea

Korean PE firm buys SK Chemical’s biofuel arm for $322 million

Korean PE firm buys SK Chemical’s biofuel arm for $322 million

February 5, 2020 |

In South Korea, the Korea Herald newspaper reports that following a $3.2 billion Korea-focused fundraise last year, Korean private equity firm Hahn & Co has purchased SK Chemical’s biofuel arm for more than $322 million. SK Chemical is the country’s largest biodiesel producer but the biofuels unit has now been spun out from the wider […]

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Korea Biofuel Corp. signs $72 million MOU for microalgae-based oil

Korea Biofuel Corp. signs $72 million MOU for microalgae-based oil

September 19, 2019 |

In South Korea, Medium reports that Aussie Green Bio Energy has signed a Memorandum of Understanding with Korea Biofuel Corporation to develop $72 million in microalgae-based oil over the next 10 years. Aussie Green Bio Energy plans to set up 4,000 containers at its plantation in Malaysia, producing 40 tons of oil per day. In […]

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South Korean researchers develop new microorganism to improve brown macroalgae use in biorefineries

South Korean researchers develop new microorganism to improve brown macroalgae use in biorefineries

June 27, 2019 |

In South Korea, the joint research team of POSTECH and Seoul National University developed a new microorganism, which they named as Vibrio sp. dhg that they have successfully demonstrated can be a promising microbial platform for the biorefinery of brown macroalgae which can replace starch-crop biomass. Continuing efforts on studying utilization of non-edible biomass have […]

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IATA overwhelmingly approves carbon offsetting scheme while promoting sustainable fuels

IATA overwhelmingly approves carbon offsetting scheme while promoting sustainable fuels

June 3, 2019 |

In South Korea, the International Air Transport Association’s AGM overwhelmingly approved a resolution calling on governments to continue important work for full implementation of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) agreed through the UN’s International Civil Aviation Organization (ICAO). CORSIA is the first global carbon pricing instrument for an industry sector. […]

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USGC, USDA promote fuel ethanol in South Korea

USGC, USDA promote fuel ethanol in South Korea

May 12, 2019 |

In Washington, D.C., the U.S. Grains Council staff is working with U.S. government officials in the U.S. Department of Agriculture’s Foreign Agricultural Service to support South Korean government and industry as they discuss the use of ethanol as a fuel alternative. South Korea currently ranks as the fifth largest international market for U.S. ethanol but […]

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South Korea and Japan looking to switch to Brazilian ethanol but crush getting in the way

South Korea and Japan looking to switch to Brazilian ethanol but crush getting in the way

April 16, 2019 |

In Brazil, Platts reports that South Korea and Japan are looking to switch imports to B-grade ethanol from Brazil now that the crushing season has kicked off and should help to push prices lower. Typically, early in the year the two countries buy ethanol from Pakistan whose availability winds down around the time that Brazilian […]

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South Korean ethanol imports jump 63% in October

South Korean ethanol imports jump 63% in October

November 14, 2018 |

In South Korea, Platts reports that ethanol imports rose a whopping 63% in October compared to the month prior at 111,418 metric tons. Brazil supplied the majority of undenatured ethanol, followed by Pakistan, with total imports of 16,413 tons, nearly 159% higher than in September. Pakistan is typically the origin of choice of in South […]

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South Korea switches Brazilian ethanol for Pakistani

South Korea switches Brazilian ethanol for Pakistani

October 16, 2018 |

In South Korea, Platts says Pakistan has become the origin of preference for ENA and REN industrial ethanol imports over Brazil due to appreciation of the Brazilian Real and softening prices expected for Pakistani product. With ongoing extended dryness leading to an early end of the Brazilian crush this year, ethanol prices are expected to […]

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IPCC report says biofuel necessary to keep climate change under control

IPCC report says biofuel necessary to keep climate change under control

October 8, 2018 |

In South Korea, AFP reports the Intergovernmental Panel for Climate Change has launched a new report saying time is running out to stop climate change but that significant investment in biofuels and associated carbon capture and storage could make a big difference. The report says it the Earth’s temperature could rise 1.5C by 2030 and […]

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South Korean August ethanol imports more than 23% higher on month

South Korean August ethanol imports more than 23% higher on month

September 17, 2018 |

In South Korea, Platts reports that August ethanol imports rose to 27,972 metric tons, more than 23% higher than July, with Brazil supplying more than 52% of the 13,030 tons of undenatured ethanol. Pakistan supplied much of the rest of the undenatured ethanol, making it the largest origin of ethanol to South Korea this year […]

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