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Reporter : Lee Kyung-min
Thu, February 9, 2023 | 09:11
New KHNP CEO vows extensive support for nuclear systems export
Korea's nuclear industry is aiming to emerge as a global export powerhouse with the full and extensive support of the government, a much-awaited momentum for recovery powered by the new CEO of the country's state-run nuclear energy firm. Korea Hydro & Nuclear Power (KHNP) CEO Whang Joo-ho, whose three-year term began Monday, said fortifying the key energy industry will be his...
'Taking US to WTO for denying state subsidies to Korean EVs lacks merit'
No meaningful outcome is expected within a desired timeframe from Korea taking the U.S. to the World Trade Organization (WTO) for putting Korean manufacturers of electric vehicles (EVs) at a significant cost disadvantage in the world's largest economy, market watchers and experts said Tuesday.
Hankook Tire seeks global expansion with high-tech EV products
Hankook Tire, Korea's top tire manufacturer and the seventh-largest worldwide, is expected to solidify its market expansion, underpinned by high-tech, quality products best suited for bolstering the performance of electric vehicles (EVs), the firm said, Monday.
Fried chicken franchises face growing pressure to lower prices
Korea's three major fried chicken franchises - Kyochon, Genesis BBQ and BHC - are coming under mounting pressure to lower their prices, cornered by what many have characterized as an “extreme overpricing designed for the sole benefit of the middleman,” according to market watchers, Monday. Propelling the criticism is the recent explosive sales of a bucket of fried chicken sol...
Unionized financial services workers to strike next month
The unionized members of the Korean Financial Industry Union, encompassing state-run and commercial lenders, have decided to go on strike, Sept. 16, according to the union, Sunday. They say such collective action is inevitable unless their demands are met, including: a 6.1-percent salary increase, the reduction of their work hours to 36 hours a week and the scrapping of plans...
Hyundai Steel accelerates ESG drive with waste recycling
Hyundai Steel, the steelmaking and iron mill affiliate of Hyundai Motor Group, is accelerating efforts for carbon neutrality, as illustrated by its recycling of coffee grounds, cow dung and waste sludge from semiconductor manufacturing. The firm signed a memorandum of understanding with Incheon Metropolitan City last month, to cooperate in a study whereby used coffee grounds ...
[INTERVIEW] 'Kangwon Land will become multi-purpose vacation resort'
Kangwon Land will continue efforts to transform itself into a multi-purpose, high-end vacation resort that can accommodate people of all ages with different leisure interests in all seasons, an initiative under the CEO Lee Sam-kul, whose growth vision prioritizes sustainability of the state-run casino operator, long criticized for promoting gambling.
Kakao retracts sale of mobility unit
IT giant Kakao has withdrawn its plan to sell off over 10 percent of its stake in affiliate Kakao Mobility to a private equity fund (PEF), Thursday, defeated by a month-long protest by unionized workers at the affiliate. Kakao owns a majority stake in Kakao Mobility, the operator of the ride-hailing service app Kakao T. The announcement made by the operator of Kakao Talk, the...
Samsung's defective washing machine fans consumer concerns
Won Jeong-yeon, a mother of two in her 30s, makes sure that the door of her Samsung Electronics washing machine is tightly closed. This is a new habit she has after watching the news about a man who cut his leg on pieces of the shattered door of his washing machine made by the consumer electronics giant after it exploded, Aug. 11. The man sustained only minor injuries, but th...
Cayman Islands is Korea's second-largest foreign investor: trade ministry
The inflow of investment funds from the Cayman Islands, a popular tax haven, stood at over $1.5 billion (1.9 trillion won) in the first six months of this year, the second-largest holdings after the U.S., the trade ministry data showed Tuesday. The sharp 25-fold increase from $62 million a decade ago fans speculation that funds there could be linked to money laundering or tax...