Formosa Smart Energy Tech, a subsidiary of Formosa Plastics Group, has signed a memorandum of understanding (MOU) with GE Vernova to form a strategic alliance focused on hybrid power and energy storage systems. The partnership aims to combine Formosa's lithium iron phosphate (LFP) battery expertise with GE Vernova's global experience in gas-fired power and energy storage technologies.
Amid rising energy demands driven by artificial intelligence (AI) and data infrastructure, major US tech companies are increasingly turning to nuclear energy—including next-generation options like small modular reactors (SMRs). Now, the US is signaling it's ready to help Taiwan explore similar technologies—if the island is willing.
As the US-China trade war intensifies, China has announced export controls on rare earths, a critical raw material for semiconductor manufacturing. This move has raised concerns in South Korea, where major semiconductor players, including Samsung Electronics and SK Hynix, are heavily reliant on rare earth imports from China. In response, South Korean companies are already working on strategies to mitigate the long-term impact of this escalating situation.
