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Reporter : Lee Kyung-min
Thu, December 7, 2023 | 23:01
LGES to make Korean plant global tech hub by 2026
LG Energy Solution, the battery manufacturing affiliate of LG Group, said it will invest 600 billion won ($448 million) to fortify production capabilities at its Ochang Energy Plant 2, as part of its medium-term growth strategy.
Fried chicken franchises under pressure to freeze prices
Major local fried chicken franchises are coming under pressure to freeze prices, as recommended by the food ministry seeking to curb inflation, according to market watchers, Monday. Advancing the guidance are soaring expenses needed to dine out in the broader context of a spike in the overall cost of living over the past few months, led by sellers of fried chicken and beverag...
55 fatalities reported at construction sites in Q1
A total of 55 workers died in accidents at construction sites in Korea during the first three months of this year, the Ministry of Land, Infrastructure and Transport said Monday. Seven of those fatalities occurred at construction sites overseen by the top 100 builders, down from 14 a year earlier.
KEPCO desperate to contain losses, root out corruption
Korea Electric Power Corp. (KEPCO) apologized for failing to supervise its employees who have sought profit using confidential information as well as unscrupulous spending at the Korea Institute of Energy Technology (Kentech), a much-criticized technology university associated with the state-run energy firm, according to market watchers, Friday.
KAIDA vice chairman vows to strengthen communication among member firms
Korea Automobile Importers & Distributors Association (KAIDA) Vice Chairman Jung Yoon-young plans to strengthen communication among its members and global peers to advance the interests and development of the automotive industry, the association said Wednesday.
Can used goods trading platforms make money?
Daangn Market and Joonggonara - Korea's two leading online flea market platform operators - are struggling to find a breakthrough strategy to offset years of operating losses, a concern amplified by overall rising costs of labor, transaction fees, maintenance and promotion campaigning, according to market watchers and company officials, Tuesday.
Korea to fortify investment relationships with Central Europe
Korea will send a delegation to Hungary, Poland and Slovakia to strengthen economic and trade cooperation, the trade ministry said Sunday. The Ministry of Trade, Industry and Energy said the delegation, led by First Vice Minister Jang Young-jin, will visit the three countries from Monday to Friday.
Apple Pay may be available at Starbucks by May
Starbucks customers in Korea will be able to use Apple Pay, a contactless mobile payment service provided by global tech titan Apple, as soon as May, according to market watchers, Sunday.
Green renovation project draws positive responses from schools, public offices
Hankuk University of Foreign Studies (HUFS) library was able to increase its energy efficiency by 53.4 percent as of 2023 compared to 2018, a remarkable improvement led by the Land, Infrastructure and Transport Ministry's green renovation project. The university is among 80 participants in a consortium set up to advance the project led by the ministry to bolster energy effici...
W1 trillion fine against Qualcomm upheld in Supreme Court
The Supreme Court upheld a combined 1 trillion won ($760 million) in fines imposed by the Korea Fair Trade Commission (FTC) on three entities of Qualcomm, Thursday, in broader recognition that the U.S. multinational firm abusing market dominance unfairly hampered the business activities of its weaker competitors. The three are Qualcomm Incorporated, Qualcomm's U.S. headquarte...