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Reporter : Lee Kyung-min
Thu, July 7, 2022 | 13:59
Unionized truckers' strike extends to 6th day
The national strike by unionized cargo truckers under the Korean Confederation of Trade Unions (KCTU) is expected to continue for the time being, as a ten-hour round of negotiations between the transport ministry and key KCTU officials failed to reach an agreement, Saturday, according to industry watchers, Sunday.
KEPCO, KHNP to cooperate with Westinghouse in overseas nuclear ventures
The CEOs of two Korean state-run energy firms held separate meetings with their counterpart at Westinghouse Electric Company, a U.S. nuclear power firm, Thursday, over joint cooperation in overseas nuclear energy projects, according to Korea Electric Power Corp. (KEPCO) and its subsidiary Korea Hydro & Nuclear Power (KHNP).
Gov't urges steelmakers to refrain from raising prices
The industry ministry stressed the need for steelmakers to seek mutual growth with their manufacturing peers, including carmakers and shipbuilders, Thursday, advising steel firms to refrain from raising their prices despite spiking global commodity prices. The private-led business drive will be backed by government assistance, especially for the steel industry.
Yongsan Park to reopen Friday for 10 days on trial basis
A total of 25,000 people who make online reservations will be allowed a two-hour on-site tour of Yongsan Park, near the newly relocated presidential office, in the southwestern part of Yongsan Garrison, Seoul, which the U.S. returned to Korea last week. Reservations will be possible from Friday through June 19, in a partial resumption of an ill-prepared plan scrapped earlier ...
KARI says it's fully prepared to launch Korea's first lunar mission
Korea Aerospace Research Institute (KARI) is fully prepared for a successful launch of Korea's first lunar mission, the first step in a giant leap forward into advanced space exploration, the state-run aeronautics and space agency said Tuesday. The mission involving Danuri, the Korea Pathfinder Lunar Orbiter (KPLO) developed by KARI, will help elevate Korea as an active parti...
Concerns grow over possible summer blackout
Concerns are growing over a possible blackout in the summer as power demand has soared due to the unusually hot weather, according to market watchers and economists Sunday. The state-run Korea Electric Power Corp. (KEPCO) has been unable to raise utility rates, despite surging prices of coal, natural gas and other raw materials, making the nation's power grid system more vuln...
POSCO to accelerate hydrogen, rechargeable battery biz
POSCO Group will accelerate its investments in hydrogen and rechargeable batteries, coupled with continued efforts to develop new technologies, the firm said Thursday.
KEPCO, Samsung C&T to accelerate green energy biz in UAE
A consortium of three local state-run and private energy and construction firms will build a hydrogen and ammonia plant in the United Arab Emirates (UAE), in the latest of Korea's green energy initiative expansions into the Middle East, according to industry officials.
Gov't earmarks $321 million to foster small nuclear reactor biz
The government will spend 399.2 billion won ($321 million) over the next six years to foster small modular reactor (SMR) businesses. The plan to develop the country's new growth driver has gained serious traction after passing the government's feasibility test required for large, long-term state-run projects, the science and industry ministries said Wednesday.
Trade deficit concerns weigh on Korean economy
Korea suffered a trade deficit of $1.71 billion (2.12 trillion won) in May, due largely to a robust export performance being overshadowed by a short-term spike in key commodity import prices, government data showed, Wednesday. The sustained trade deficit over the past two months is expected to weigh heavily on the country's export-reliant economy, as indicated by a widening f...
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