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☆ South Korea flies solid-fuel rocket amid space race with North Korea
▼ + stars: | 2023-12-04 | by ( Hyunsu Yim | ) www.reuters.com time to read: +3 min

[1/4] A solid-fuel space rocket is launched during a test flight over the sea near Jeju Island, South Korea, December 4, 2023. The Defense Ministry/Handout via REUTERS Acquire Licensing RightsSEOUL, Dec 4 (Reuters) - South Korea on Monday successfully conducted a flight of a solid-fuel rocket carrying a satellite over the sea near Jeju Island, the defence ministry said, amid a growing space race with neighbouring North Korea. A SpaceX Falcon 9 rocket carried South Korea's first spy satellite into orbit on Friday from California's Vandenberg Space Force Base. North Korea on Monday denounced what it called Washington's "double standard" over the two Koreas' satellite launches and said such "brigandish" American standards would never be tolerated. A functioning reconnaissance satellite could allow North Korea to remotely monitor U.S., South Korean, and Japanese troops.

Persons: California's, Kim Jong, Hyunsu Yim, hyang Choi, Ed Davies, Gerry Doyle Organizations: The Defense Ministry, REUTERS Acquire, Rights, Agency for Defense Development, Korea's Hanwha, Hanwha Systems, SpaceX, California's Vandenberg Space Force, White House, Pentagon, U.S, Thomson Locations: Jeju, South Korea, Rights SEOUL, North Korea, Pyongyang, United States, Korea, Norfolk , Virginia, South

☆ US solar company Suniva to restart idled factory thanks to Biden climate law
▼ + stars: | 2023-10-11 | by ( Nichola Groom | ) www.reuters.com time to read: +4 min

The company is the latest to commit to new U.S. solar production capacity since passage last year of the Inflation Reduction Act (IRA), which subsidizes domestic manufacturing of clean energy equipment. "Solar cells can succeed in this market. Suniva will begin producing solar cells, the building blocks of solar panels, at its Norcross, Georgia, facility in the spring of next year, the company said. OIC also committed capital this year to Canadian solar manufacturer Heliene for a new U.S. cell and panel factory in Minnesota. But he credits subsidies contained in the IRA for finally enabling Suniva to produce solar cells again.

Persons: Joe Biden, Brian Snyder, Joe Biden's, Matt, Suniva, Card, Trump, Biden, Suniva's Card, John Podesta, Bidenomics, Nichola, Marguerita Choy Organizations: Democratic, Plymouth Area Renewable Energy Initiative, REUTERS, Reuters, Orion Infrastructure Capital, Lion, White House, Thomson Locations: Plymouth, Plymouth , New Hampshire, U.S, Georgia, China, Norcross , Georgia, New York, Minnesota, Lion Point, America, KS

☆ Australia awards South Korea's Hanwha $4.7 bln defence contract
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 27 (Reuters) - South Korea's biggest defence company Hanwha Aerospace (012450.KS) on Thursday beat Germany's Rheinmetall (RHMG.DE) to win an Australian contract worth up to A$7 billion ($4.74 billion) for building 129 infantry fighting vehicles. The deal, which Defence Industry Minister Pat Conroy described as one of the largest projects in the history of the Australian army, will have a value of A$5 billion to A$7 billion. Australia has been upgrading its defence capabilities, citing the changing strategic environment in the Pacific region, where China is looking to increase its influence. Hanwha said the deal would further boost ties between Australia and South Korea and had "significant implications" for defence and economic cooperation. ($1 = 1.4780 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Alasdair Pal and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Germany's, Pat Conroy, Conroy, Hanwha, Hanwha's, Anthony Albanese, Renju Jose, Alasdair Pal, Jamie Freed Organizations: SYDNEY, Hanwha Aerospace, Germany's Rheinmetall, Defence Industry, Rheinmetall, Thomson Locations: Australia, Victoria, Pacific, China, South Korea, Germany, Sydney

☆ The IRA isn’t good for just U.S. stocks. Here are some emerging markets names that will benefit too
▼ + stars: | 2023-04-23 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

The Inflation Reduction Act does more than buoy U.S. clean energy stocks – it's also an opportunity for emerging markets firms. But the IRA also represents an opportunity for emerging markets firms. "This is a win, win, win," said Paul Desoisa, co-portfolio manager of the Global Emerging Markets strategy at Martin Currie, a specialist investment manager at Franklin Templeton. Here are some places where emerging markets firms stand to benefit. Some possible contenders include Korea's Hanwha Solutions, a multinational with a solar energy business Hanwha Qcells, abrdn's Khwaja said.

☆ U.S. VP Harris takes Biden's jobs message to Marjorie Taylor Greene's district
▼ + stars: | 2023-04-06 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +4 min

WASHINGTON, April 6 (Reuters) - U.S. Vice President Kamala Harris on Thursday takes the Biden administration's jobs agenda to a right-wing Georgia congressional district represented by Representative Marjorie Taylor Greene, an avid supporter of former President Donald Trump. Harris is announcing a further expansion, including an order for 2.5 million new solar panels involving Summit Ridge Energy, according to administration officials. But Dalton is the seat of a county where Trump won 2.4 votes for every one for Biden. "Instead, congressional Republicans want to roll back this progress and put investments in manufacturing, clean energy and good jobs at risk." Georgia is expected to again be one of the most contested states in the 2024 presidential election that may pit Biden against Trump once again.

Summary Customs delays, tariff uncertainty and soaring global demand have hiked solar costs and delayed projects as the U.S. weans itself off Chinese dependence. The Biden administration's Uyghur Forced Labor Protection Act (UFLPA) prevents the import of goods produced using forced labour in China’s Xinjiang Province, including much of the polysilicon used in solar panels. UFLPA checks have blocked panel imports at the U.S. border, delaying projects and driving up project costs. CHART: Solar manufacturing capacity by country, regionSource: International Energy Agency's Report on Solar PV Global Supply Chains, August 2022The UFLPA requires visibility into labour practices along the solar value chain. Lightsource bp has contracted for more than 20 million solar panels through 2028 and is considering imports from Southeast Asia, Turkey and India, Smith said.

SEOUL, Jan 11 (Reuters) - South Korea's Hanwha Solutions Corp (009830.KS) said on Wednesday its unit Hanwha Q Cells will invest a total of $2.5 billion to build a solar power manufacturing value chain in the U.S. state of Georgia through June 2025. The company's board approved on Wednesday a $2.31 investment to build a solar power ingot, wafer, cell and module factory, the company said in a regulatory filing. This is in addition to a roughly $200 billion U.S. investment approved late last year, a Hanwha Solutions spokesperson said. With the investment, the company is expected to increase its solar module production capacity in the United States from 1.7 gigawatts as of 2022 to 8.4 gigawatts as of 2024, Hanwha Solutions said in a press conference. Reporting by Joyce Lee and Heekyong Yang; Editing by Muralikumar Anantharaman and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Poland expected to buy S.Korean rocket launchers after tank, howitzer sales
▼ + stars: | 2022-10-19 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

SEOUL, Oct 19 (Reuters) - Poland is set to buy rocket launchers in its latest arms deal with South Korea, following shipments of tanks and howitzers, as it ramps up arms imports after Russia's invasion of Ukraine, South Korean officials said on Wednesday. Poland is expected to sign a deal with Hanwha Defense, the defence unit of South Korea's Hanwha Corp (000880.KS) this week, to buy K239 Chunmoo multiple rocket launchers, officials said. Under the contract, South Korea will supply 288 multiple rocket launchers worth $6 billion, the Yonhap news agency reported. The expected agreement comes as South Korean companies shipped the first batch of tanks and howitzers to Poland. Poland has also agreed to buy 48 FA-50 fighter jets from South Korea.

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