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Reporter : Lee Kyung-min
Thu, July 7, 2022 | 13:27
Gov't to help local vaccine developers, ingredient makers with overseas expansion
The government will help local vaccine developers and key pharmaceutical ingredient makers strengthen cooperation with their prospective business partners overseas, mostly in the areas of technical cooperation, raw input material trading supply and exports, officials said, Thursday.
Kepco vows to improve financial soundness to justify electricity rate hikes
Korea Electric Power Corp. (Kepco) has vowed to dispose of non-essential assets and reduce spending as it tries to persuade the government to approve proposed electricity rate hikes, according to company officials, Thursday. The slew of measures to fortify its financial soundness came hours before the state-run energy firm submitted the plan, with the energy ministry seeking ...
Truckers' strike lays bare vulnerabilities of Korea's logistics system
Korea's logistics system is extremely vulnerable to unforeseen risks, as illustrated by an eight-day strike by unionized truckers under the Korean Confederation of Trade Union (KCTU) that ended up incurring about 2 trillion won ($1.5 billion) in losses in economic activities, market watchers said Wednesday.
Policymakers in dilemma over electricity rate hike
The finance and energy ministries are in a bind over raising electricity bill rates, a double-edged sword and a major headache for policymakers increasingly pressured to mitigate the impact of a spike in inflation and global energy prices, according to market watchers and officials, Wednesday.
Korea's nuclear biz exports drive gains steam
Korea is accelerating efforts to export its nuclear energy systems, a new policy initiative gaining strong momentum with the full backing of the Yoon Suk-yeol administration seeking to win 10 advance orders of nuclear projects overseas, according to energy experts. Bilateral and multilateral cooperation with key countries in the European Union, the Middle East as well as the ...
Postal workers' planned strike adds fuel to logistics chaos
The planned national strike by unionized postal delivery workers under the Korean Confederation of Trade Unions (KCTU) is adding fuel to the ongoing logistics crisis initiated by cargo truckers, according to market watchers, Tuesday.
Hyosung Honorary Chairman Cho Suk-rae wins YoungSan Diplomat Award
Hyosung Group Honorary Chairman Cho Suk-rae was given the YoungSan Diplomat Award presented by the Seoul Forum for International Affairs (SFIA), in recognition of his contributions as a “private diplomat” to the growth of the country, coordinating economic cooperation with the U.S., Japan and China, the private, non-profit organization said, Tuesday.
Empty houses in rural areas become headache for gov't
The government will establish a law to better manage empty houses all across the country, especially in remote, sparsely populated rural areas where unoccupied, abandoned residences may be used in violent crimes often involving at-risk, vulnerable people, according to officials, Monday.
Soaring utility bills to weigh on households, businesses
Surging utility bills resulting from higher global energy prices are feared to place a heavier financial burden on businesses and households in the coming months, which have already been struggling with soaring prices of food, gasoline and other daily necessities, according to market analysts Monday. The prices of key commodity items, including crude oil and liquefied natural...
Gasoline, diesel prices surge to record highs
The spiking prices of gasoline and diesel are unlikely to break their weeks-long streak of rising, sustained by global oil prices staying elevated due to demand far exceeding supply amid continued geopolitical uncertainties, a limited increase in output by oil-producing countries and a recovery in spending, market watchers said, Sunday.
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