Korea Zinc, Korea s leading zinc smelter, said Tuesday it will terminate its longstanding purchase and sales partnership with its largest shareholder, Youngpoong, amid a management conflict between the two companies.
South Korean stocks got off to a strong start Monday led by gains from tech and auto shares. The benchmark Korea Composite Stock Price Index moved up 26.98 points, or 1.02 percent, to 2,675.74 in the first 15 minutes of trading. Market bellwether Samsung Electronics rose 0.82 percent, and major chipmaker SK hynix added 0.07 percent. Kia, the country's No. 2 carmaker, increased 1.73 percent, and its auto parts af.
As South Korea edges closer to being solely powered by renewables come 2050, the manufacturing industries of Australia's third-largest trading partner believe hydrogen gas is the answer to help reach its target.
Acciona and international metals group Korea Zinc have reached an agreement to jointly develop the 923MW MacIntyre Wind Farm in Queensland, Australia.
MacIntyre is one of the largest renewable energy projects in Australia, and the largest energy project in Acciona’s portfolio.
Under the agreement Ark Energy, a subsidiary of Korea Zinc, will take a 30% stake in MacIntyre Wind Farm, with Acciona retaining 70%.
The Spanish infrastructure company will remain responsible for managing the project through its development, construction, operations and maintenance stages.
Acciona has also secured a long-term PPA with CleanCo, Queensland’s newest public electricity company.
Under the deal, CleanCo will acquire the annual production from 400MW of Acciona s facilities for ten years.