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Reporter : Lee Kyung-min
Thu, February 9, 2023 | 08:15
LG Group chief seeks global expansion
LG Group Chairman Koo Kwang-mo will visit manufacturing plants and business facilities operated by major affiliates overseas soon, according to industry watchers, Tuesday.
Korea urged to revise EV subsidy scheme to benefit locally manufactured vehicles
The government should revise the current state subsidy scheme to provide larger benefits to made-in-Korea vehicles as China and other countries do for their own cars, experts said Tuesday. Underpinning the protectionist-leaning recommendation is the much-contested Inflation Reduction Act (IRA), the U.S. stimulus package whereby Korean EVs and batteries will have their tax cre...
'Inflation Reduction Act is in clear violation of KORUS FTA'
The much-contested U.S. Inflation Reduction Act (IRA) whereby Korean Electric vehicles (EVs) and batteries will have their tax credits denied or significantly curtailed in the world's largest economy is a clear violation of international trade norms, experts said Wednesday. They say that the protectionist stimulus package seeks to boost U.S. President Joe Biden's relatively l...
First shipment of SKYCovione
Prime Minister Han Duck-soo, seventh from left, poses with SK Discovery Executive Vice Chairman Chey Chang-won, second from right, SK bioscience CEO Ahn Jae-yong, left, and other government officials during a ceremony to mark the first shipment of SKYCovione, a COVID-19 vaccine made by the biopharmaceutical affiliate of SK Group, at the firm's manufacturing plant in Andong, N...
Korea to fine-tune nuclear export strategy
The government is accelerating efforts to formulate long-term strategies for facilitating export of nuclear energy systems, as underpinned by stronger cooperation with prospective buyer countries in energy, economic and human exchanges, a team of government officials said Friday.
Animal welfare should be considered amid livestock industry sustainability: expert
A blind push organized by animal rights activists to reform the current system of industrial agriculture could crash the country's livestock industry, one expert said, Sunday. As compelling and morally righteous animal rights claims may appear, the concerns of local stakeholders who have firsthand experience in managing the farming environment must not be ignored while promot...
Government to open second presidential office in Sejong by 2027
Several government ministries will team up to help facilitate the construction of a second presidential office in Sejong City, an administrative area 144 kilometers south of Seoul, by 2027, according to government officials, Sunday. Setting up a second presidential office and a legislative building in Sejong was a key campaign pledge of President Yoon Suk-yeol.
'Foreign envoys to Korea are key to hosting World Expo 2030'
The role of foreign ambassadors to Korea is immense in the country's bid to host the World Expo 2030, as stressed by Prime Minister Han Duck-soo who plans to meet with each and every foreign diplomatic official in Korea, according to market watchers, Sunday. The collective voices from ambassadors, Han maintains, will mobilize the much-needed momentum for aligning support from...
'US Inflation Reduction Act goes against international trade norms'
The much-contested U.S. Inflation Reduction Act, under which Korean manufacturers of electric vehicles (EVs) and EV batteries will be put at a significant cost disadvantage in the world's largest economy, goes against international trade norms, the trade ministry said Wednesday.
Debt-ridden KEPCO's hefty salaries draw criticism
The number of workers at Korea Electric Power Corp. (KEPCO) with an annual salary of at least 100 million won ($74,600) has doubled over the past four years, fueling criticism that the money-losing state-run utility fortified employee benefits at the expense of corporate financial soundness, data showed Wednesday. The hefty compensation strengthens the finance ministry's move...