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Reporter : Lee Kyung-min
Sat, June 3, 2023 | 06:45
Korea aims to export nuclear reactors to Poland, Czech Republic
The government will facilitate the exports of Korea-developed APR1400 nuclear reactors to Poland and the Czech Republic, as part of a broader policy drive to advance and normalize the often-demonized energy source, the energy ministry said Tuesday.
Nuclear power exceeds 30% of Korea's energy mix
Nuclear power accounted for over 30 percent of the country's energy this year, in a marked elevation of the once-demonized power generation method that is increasingly appreciated for its affordability, stability and exportability, according to market watchers, Monday. The seven-year high of 30.7 percent registered in the first 11 months of this year is the highest since 31.7...
Korea's spatial information industry surpasses $7.8 bil. in sales on digitization
Korea's spatial information industry surpassed 10 trillion won ($7.8 billion) in sales last year, in a feat underpinned by robust demand for the digitization of work processes at state-run organizations and their private peers, powered further by the COVID-19 pandemic, the land ministry said Monday. Also buttressing the average annual increase of a solid 7.8 percent over the ...
Record-high winter energy demand bolsters case for electricity rate hike
Record-high energy demand this winter sparked by the recent cold snap is further strengthening the case for electricity rate hikes in the coming weeks, market watchers said Sunday. The gradual yet certain energy price hikes will add to the woes of many households in the form of increased living expenses in the broader context of accelerating inflation. The finance ministry sa...
Credit crunch crisis looming for builders
The local construction industry is bracing for a series of bankruptcies at builders in a much-dreaded chain reaction prompted and exacerbated by widespread project financing (PF) failures over the past few months, industry watchers said Sunday. PF is the financing of long-term infrastructure, industrial projects and public services using limited recourse financing scheme. The...
LS Group founder's grandson receives commendation
Electronics component manufacturer Taein CEO Lee Sang-hyun won a presidential commendation, Wednesday, for his contribution to fostering exchanges of cultural and sports activities between South and North Korea, the firm said Thursday. Lee is the grandson of the late LS Group founder and honorary chairman of LS Cable & System Koo Tai-hwoi.
Korea to foster local grain production to bolster food self-sufficiency
The government will foster the output of locally-grown grain to help increase the country's food self-sufficiency rate to 55.5 percent by 2027, up from 44.4 percent last year, the agriculture ministry said Thursday. The number of overseas grain terminals operated by local firms will be increased to five from two, to secure stable grain distribution channels.
Hyundai Motor gives $186,800 in bonuses to 6 World Cup heroes
Six football players will be given a combined 240 million won ($186,840) in bonuses for helping Korea advance to the round of 16 at the 2023 FIFA World Cup, as approved by Hyundai Motor Group Chairman Chung Euisun, the firm said Wednesday. The award of 40 million won was given each to six players of Jeonbuk Hyundai Motors, a professional football club based in Jeonju, North J...
Interwork Korea wins award for digital manufacturing
Interwork Korea CEO Moon Hyun-myoung poses for a photo after winning an award given by the Korea Institute of Industrial Technology, Dec. 15. The head of the cosmetics supplier said he will continue to digitalize the manufacturing process, thereby advancing technological innovation to contribute to the growth of the country's cosmetics industry. Courtesy of Interwork Korea
Hyundai Mobis, Ottopia to introduce automotive grade remote assistance
Hyundai Mobis, the global automotive supplier affiliate of Hyundai Motor Group, will partner with Ottopia, an Israeli teleoperation software firm, to develop end-to-end remote mobility solutions for expedited commercialization of autonomous mobility services, the Hyundai affiliate said Wednesday.