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Tue, May 30, 2023 | 19:28
Korean firms balk at donating to fund compensating victims of Japan's forced labor
Most of the state-run and private Korean companies that benefited from the 1965 Korea-Japan treaty appear to be hesitant about donating to a fund compensating Korean victims of forced labor under Japan's colonial rule, according to industry officials, Monday. The treaty enabled the resumption of bilateral diplomatic relations after WWII, in exchange for $500 million (655 bill...
Game shares soar as China allows import of Korean games
Shares of local game companies soared, some by as much as over 20 percent, Tuesday, a day after the Chinese government allowed several Korean games to be sold in the country, according to industry officials. The latest decision by the Chinese government followed a similar one in December, 2022.
Korea to ease emission reduction targets for firms by expanding nuclear energy use
Korea has opted to lower its greenhouse gas emission targets for industries by expanding nuclear and renewable energy use in a move to ease the burden on local manufacturers, a presidential commission said Tuesday.
Seoul event to promote Busan's Expo bid
The government will hold an event to promote Korea's bid to hold the 2030 World Expo in Busan next week, according to the industry ministry, Monday. The five-day event will be held at the Gwanghwamun square, Seoul, ahead of the visit early next month of a delegation from the Bureau International des Expositions (BIE).
KAIST student becomes first Korean recipient of Apple Scholars fellowship
Lee Sea-nie, a second-year doctoral degree student at the Korean Advanced Institute of Science and Technology (KAIST) has made the list of 2023 recipients of the Apple Scholars in AI/ML PhD fellowship, a program for developing excellence in the fields of artificial intelligence and machine learning, according to the university, Sunday.
Land minister fortifies city building cooperation with Indonesia
Minister of Land, Infrastructure and Transport Won Hee-ryong has met with top policymakers in Indonesia, in a move to fortify cooperation in the areas of mobility, infrastructure and city building, as well as overseas development assistance (ODA) in the logistics, aviation and transport industries, the ministry said Sunday. The top transport policymaker is on a five-day trip ...
Seoul withdraws WTO suit about Japan's export curb
Korea decided to withdraw a lawsuit filed with the World Trade Organization (WTO) over Japan's curbs on three key materials needed to manufacture semiconductors and displays, the trade ministry said Thursday.
Animal waste generates alternative energy
What if you could make 140 million won ($106,670) with just 10 million won? And what if such investment was part of a government project to foster energy recycling? This seemingly self-explanatory windfall opportunity has been met with cynicism by some who have spent their whole lives growing crops and raising livestock. These farmers are many things, but being open to change...
Korean steelmakers downsize China operations amid intensifying competition
Hyundai Steel, the steel affiliate of Hyundai Motor Group, has decided to sell its Beijing entity, crushed by a net loss of over 100 billion won ($70 million) over the past five years, according to market watchers, Thursday. The rapid losses of Hyundai's China entity, Hyundai Beijing Steel Process, which marked a net loss of 49.6 billion won in 2021, was in line with the decl...
Korea to build $229 bil. mega chip cluster in Seoul metro area by 2042
The government will seek 300 trillion won ($229 billion) in investments from the private sector to establish the world's largest high-tech semiconductor cluster in Gyeonggi Province surrounding Seoul by 2042, the trade and land ministries said Wednesday. This is a long-term measure to bolster and integrate the growth driver industry in the areas of memory chips, foundries, de...
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