search close
Sat, June 3, 2023 | 07:23
Korea suffers record-high trade deficit in January amid falling exports
Korea registered an all-time high trade deficit of $12.69 billion (15.62 trillion won) in January, marking the 10th consecutive month of deficits, which were brought on by surging energy imports and plunging exports, the trade ministry said Wednesday. Experts say the recent slowed growth of exports will continue at least during the first half of this year, as global consumers...
Hyundai Motor unveils mobility's future as mobile living space
Hyundai Motor Group unveiled an animated video called “Mobile Living Space,” which it says will redefine future mobility as an organic connection mechanism between vehicles and buildings.
POSCO Holdings to fortify silicon anode output to bolster materials biz
POSCO Holdings said, Friday, that it will invest 59.1 billion won ($47.8 million) with its subsidiary POSCO Silicon Solution to build silicon anode production facilities, in a move to fortify its secondary battery materials business. Construction of the plant, with an annual production capacity of 450 tons, will begin in June in Pohang, North Gyeongsang Province. It will be c...
Middle East 'sales diplomacy' picks up speed
Minister of Land, Infrastructure and Transport Won Hee-ryong is accelerating efforts to win overseas construction orders in Saudi Arabia, Iraq and Qatar, the ministry said on Friday. Won met with trade, transport and interior authorities in the three Middle Eastern countries during his trip from Wednesday to Thursday (local time) to fortify cooperation in smart-city planning ...
People attempt to cut surging heating costs with creative solutions
A man in his 20s, surnamed Kim, has set up a tent over his bed, a decision he said has greatly helped with the recent cold wave. He lives alone in a small housing unit that provides centralized heating. “I was unsure about it at first,” he said. “But now that I have used it for a couple of days, I understand why this was so popular online. It's better than you think. I highly...
Koreans stunned by spike in heating costs
An office worker in her 30s surnamed Lee had to take a harder look at her December gas bill. It showed she was being charged almost 50 percent more than the year before. “There are four people in my family and the rate was 550,000 won ($449), far higher than last year's which was around 350,000 won.”
Energy demand peaks during cold wave
An employee of Korea Electric Power Corp. (KEPCO) monitors real-time electricity supply in the control room of the state-run energy firm's regional headquarters in Gyeonggi Province, Wednesday, as the country's energy demand spiked amid a severe cold wave. Yonhap
Instant noodle exports hit record high last year
Instant noodle exports hit an all-time high of over $765 million (945.3 billion won) last year, powered by an increasing number of people having meals at home due to the COVID-19 pandemic. Data from Korea Customs Service showed that exports of instant noodles reached $765.43 million, up 13.5 percent from a year earlier.
Entrepreneurs hope to hear about lower borrowing rates, end of COVID-19 this year
One in two local businesses said news of lower borrowing rates would be the most welcome development this year, according to a survey, Sunday. The Korea Chamber of Commerce and Industry (KCCI) surveyed 3,267 businesses, asking which news headlines they would want to see the most this year.
Advanced air mobility to be game-changer: transport minister
Minister of Land, Infrastructure and Transport Won Hee-ryong stressed that advanced air mobility (AAM) will be a game-changer for future urban transportation systems at the World Economic Forum (WEF) in Davos, Switzerland, the ministry said Thursday. He gave a keynote speech at the Aerospace Governors Meeting session on Wednesday, outlining his vision for facilitating AAM.