According to data obtained by Park Sang-hyuk, a lawmaker and a member of the National Assembly’s National Transportation Committee, from the Ministry of Land, Infrastructure, and Transport on Oct. 5, there were a total of 1,341 registered foreign property rental operators in South Korea as of the en
A new technology for robot wheelchairs, which helps persons with lower-limb disabilities go up and down the stairs and move while staying standing, has been developed for the first time in the world.The Korea Institute of Machinery and Materials (President Sang-jin Park, hereinafter referred to as K
Korea’s industrial production, which had shrunken due to a slump in the semiconductor industry, made a comeback as semiconductor production rebounded.According to Statistics Korea on Oct. 4, the nation’s semiconductor production surged 13.4 percent month on month in August, the largest increase in f
Foreign direct investment (FDI) in South Korea reached a record high of US$23.95 billion (32.48 trillion won) by the end of the third quarter this year. The surge in investment, primarily focused on advanced industries such as secondary batteries, came from the European Union (EU) and regions in the
The Ministry of Employment and Labor (MOEL) announced on Oct. 4 that “simultaneous supervision” will be implemented at all construction sites nationwide by Lotte Engineering & Construction.The implementation of this simultaneous supervision comes in response to a fatal accident that occurred at Lott
The Incheon Free Economic Zone and the World Health City Forum Organizing Committee are ramping up preparations for the 1st World Health City Forum (WHCF), which will be held at Songdo ConvensiA in Incheon from Nov. 20 to 22.On Oct. 4, a press briefing was held at the Oakwood Premier Incheon in Song
In September, South Korea achieved its highest semiconductor exports in the past year, while exports to China also reached their peak for the year. Analysts suggest that semiconductor exports have gradually found their footing and are on an upward trajectory, and exports to China have entered a sign
Recent findings from the Ministry of Land, Infrastructure, and Transport’s Dispute Resolution Committee for Construction Defect Inspections indicate that GS Engineering & Construction has received the highest number of construction defects among construction companies over the past four years.MOLIT
For the first time, foreigners were honored at Shipbuilding and Offshore Day, the 20th anniversary of which was celebrated this year on Sept. 20. The honorees were Komkrit from Thailand who works for Daero ENG, a Samsung Heavy Industries partner, and Sri Lankan national Kumara, a worker of Jiu Indus
Germany’s move to ban the use of Chinese fifth-generation (5G) telecommunications components including those from Huawei over security concerns in Germany prompted China to imply that it will retaliate.“If the German government decides to move toward excluding Huawei without proving that China poses
Financial authorities have declared war on unfair trading forces, including stock manipulation. They will swiftly freeze accounts suspected of unfair trading, apply a zero-tolerance policy, and increase the reward for reporting to 3 billion won (US$2.24 million), up from 2 billion won (US$1.49 milli
On Sept. 20 (local time), the Chong Kun Dang Kochon Foundation announced that it had held the “17th Kochon Prize Ceremony” at the U.N. Headquarters in New York on Sept. 21.This year, the Kochon Prize focused on the theme of “Recognition for medical professionals who do not give up on tuberculosis tr
The government has initiated the process of revamping the current vehicle tax, which is currently based on engine displacement, to consider factors such as vehicle price. If the criteria for vehicle taxation changes, it is anticipated that imported cars will face a significant increase in tax burden
The French government has finalized the French version of Inflation Reduction Act (IRA), which grants differential subsidies based on carbon emissions and other criteria during the production and transportation of electric vehicle components and materials. While this measure is primarily aimed at Ch
Korea’s auto exports set a new monthly record in August, marking the 14th consecutive month of double-digit growth since July last year, bringing this year’s cumulative auto exports to US$46.45 billion at the end of August.According to the Ministry of Trade, Industry and Energy (MOTIE) on Sept. 19,
The government is set to invest 400 billion won (US$301.66 million) next year and a total of 2.2 trillion won over the next five years to establish geographical zones dedicated to creating specific industries at world-class level. To boost the venture ecosystem, it plans to increase the external fun
The government is entering into follow-up work to pursue the joint development of lithium mines proposed by Ukrainian President Volodymyr Zelensky.During a meeting with the Ministry of Land, Infrastructure, and Transport (MOLIT) press corps on Sept. 18, Minister Won Hee-ryong said, “President Zelens
According to the Ministry of Trade, Industry, and Energy on Sept. 15, the global electricity consumption in 2021 showed China leading the charts with an overwhelming 7,714 terawatt-hours (TWh). Following China were the United States at 3,869 TWh, India at 1,355 TWh, Russia at 963 TWh, Japan at 916 T
The French government ordered a halt to sales claiming that Apple’s popular iPhone 12 smartphone, released three years ago, emits radiation levels exceeding allowed standards. The issue is spreading to other European countries, including Germany and Belgium. South Korea’s government has also commenc
On Sept. 17, CJ Logistics announced its participation in Ukraine’s reconstruction projects as a part of the joint public-private “Ukrainian Reconstruction Cooperation Delegation.”Led by Won Hee-ryong, the minister of land, infrastructure, and transport, the Ukrainian Reconstruction Cooperation Deleg