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Reporter : Lee Hyo-sik
Sat, September 23, 2023 | 14:11
KEPCO likely to win nuclear deal in UK
Korea Electric Power Corp. (KEPCO) will likely build a nuclear power plant in Britain as the European nation moves closer to accepting Korea’s next-generation nuclear reactor. The state-run utility company has been negotiating with Toshiba to buy the debt-ridden Japanese firm’s 60 percent stake in NuGen, a British nuclear consortium. French utility firm ENGIE holds the remaining 40 percent stake in the consortium that plans to start building a nuclear power plant near Sellafield, Britain’s nuclear fuel reprocessing and decommissioning site, in 2018.
Companies | 2017-07-12 18:25
Staying committed to protecting environment
In today’s complicated world, we need to be resilient and learn to adjust to volatility. However, no matter how the world unfolds and becomes uncertain, our commitment to environmental challenges should remain unchanged. Recently the U.S. government made a decision to withdraw from the Paris Climate Agreement, however, GE Chairman Jeff Immelt said that as an industry leader t...
Economy | 2017-07-12 18:20
Lotte Chemical lists Malaysian unit
Lotte Chemical listed the shares of its Malaysian unit on the stock market there, raising about 1 trillion won ($870 million) in fresh funds, the company said Tuesday. Lotte Chemical Titan floated 2.38 billion shares on the Kuala Lumpur Stock Exchange, worth 4 trillion won. Of the 2.38 billion shares, 25 percent are traded on the bourse, while the remaining 75 percent are hel...
Companies | 2017-07-11 17:08
POSCO Daewoo in Uganda
Ugandan President Yoweri Kaguta Museveni, third from left, tours a vocational school, built by a POSCO Daewoo-led consortium, in the African nation, June 30. Choi Jong-ku, CEO of the Export-Import Bank of Korea, and other top officials from Korean companies taking part in the $27 million project attended an opening ceremony. The state-run bank financed the scheme, which const...
2017-07-11 16:57
Hyundai Motor goes all-out to rebound in China
Hyundai Motor and its affiliate Kia Motors have gone into emergency mode to prop up their sagging sales in China as consumers there continue to shun Korean brand products. Automakers, cosmetics firms and other local consumer goods makers are having a hard time in the world’s second-largest economy as Seoul and Beijing clash over the deployment of a U.S. anti-missile Terminal High Altitude Area Defense (THAAD) battery here. Korea’s No. 1 and No. 2 carmakers said Monday that they formed a taskforce, consisting of more than 100 employees from their marketing, research and sales divisions, to mo...
Companies | 2017-07-10 16:01
KyungHee professor wins L'Oreal science award
A 59-year-old cell biologist at KyungHee University won the grand award, given jointly by L’Oreal Korea and UNESCO Korea, for her extensive research on stem cells, the French cosmetics firm’s Seoul unit said Monday. Son Young-sook, a professor of cell biology at the College of Life Sciences, received the top prize of the 2017 L’Oreal Korea-UNSECO Awards for Women in Life Scie...
Companies | 2017-07-10 15:54
Will Kumho chairman let go of tire unit?
Kumho Asiana Group Chairman Park Sam-koo is attracting keen attention from business circles over whether he will accept the latest proposal from Kumho Tire’s creditors for terms concerning Double Star Tires’ use of the Kumho brand. The Korea Development Bank (KDB) and other creditors met Friday and decided to tell Kumho Industrial, which owns the trademark right, that Kumho T...
Companies | 2017-07-09 16:07
Promoting Korea-China partnership
SK Group Chairman Chey Tae-won speaks during the Tianjin Forum 2017 at the Crown Plaza Hotel in Tianjin, China, Friday. Chey stressed the importance of promoting sustainable urban development, environment protection policies and other issues key to improving the quality of life. The chairman also said Korean and Chinese businesses should strengthen their partnership despite t...
2017-07-09 15:54
Korail hit hard by competition
Korail, the state-run railway operator, has been losing money since a separate entity began running KTX bullet trains that connect southern Seoul with Busan and Gwangju last December. The company said the SRT, which operates from Suseo Station in southern Seoul, has stolen a significant number of KTX passengers over the past seven months, chipping away at its bottom line. Kor...
Economy | 2017-07-06 16:20
Hyundai Heavy refutes union's 'fake news'
Hyundai Heavy Industries (HHI) has rebutted its labor union’s “distorted” information about its management situation, calling on union workers to refrain from making excessive demands as it struggles to get back on track. Korea’s largest shipbuilder said Wednesday that the union has been spreading false information about the number of ship orders and other business issues to secure the upper hand in ongoing wage negotiations. “Union leaders must stop distorting the facts to make the company appear to be in better shape than it actually is,” an HHI official said. “What they should do instead ...
Companies | 2017-07-05 17:43
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More than 2,800 killed by earthquake in Morocco
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