Korea Electric Power Corp. announced on Feb. 14 that the amount of nuclear power generation in South Korea increased 11.4 percent to 176,054 GWh last year, when the amount topped 170,000 GWh for the first time ever.In 2022, South Korea’s total power generation was 594,392 GWh and nuclear power gener
The Ministry of Oceans and Fisheries announced on Feb. 14 that every international navigation vessel of South Korea that is 5,000 tons or more would go green by 2050 and government and public funds would be prepared to assist shipping companies.The plan is to reach zero carbon emissions in internati
Korea Midland Power (KOMIPO) has won a special award in the water resource category at the 2022 CDP awards for outstanding companies in climate change response and water management. The event was held by the Carbon Disclosure Project (CDP) Korean Committee on Feb. 10.Korea Midland Power is implement
Startup Alliance Korea announced on Feb. 13 that new startup investments totaled 257.9 billion won last month, down 84.28 percent from a year ago and down 66.42 percent from the previous month. The number of new startup investments dropped from 176 to 83 in one year.The ongoing decrease in new start
The Korea Customs Service announced on Feb. 13 that South Korea’s semiconductor exports for the first 10 days of this month totaled US$1.958 billion, down 40.7 percent from a year ago.Korea's chip exports are decreasing for seven months in a row. Besides, the rate of decrease was 17.4 percent in
South Korea's current account surplus dropped from US$85.23 billion in 2021 to an 11-year low of US$29.83 billion in 2022. This is because its goods account surplus dropped with energy prices soaring to cause an overwhelming increase in imports.The same is likely to apply to this year. The South
Korean companies are working hard to help Turkey and Syria, which were hit hard by massive earthquakes. They are continuing to donate money and deliver relief goods for earthquake recovery and rescue work in Turkey.On Feb. 10, Samsung Electronics decided to provide a total of US$3 million in cash an
The Korea Power Exchange (KPX) hosted a Bloomberg NEF (BNEF) seminar on carbon neutrality responses at its headquarters on Feb. 8.In the seminar, energy experts from BNEF offered in-depth analyses on the impacts of carbon neutrality on the electric power industry and electric power demand. Ali Izadi
The Ministry of Trade, Industry and Energy had a meeting with potential investors in the U.S. hydrogen industry at the Hydrogen & Fuel Cell Seminar (HFCS) that took place in Long Beach, California on Feb. 8.This year, South Korea participated as a host country in the HFCS hosted by the U.S. Fuel Cel
The Ministry of Trade, Industry and Energy announced on Feb. 9 that its budget investment in green and self-driving car R&D would be 499.4 billion won this year. For reference, the same budget was approximately 435 billion won last year.This year’s budget spending consists of 229.3 billion won in gr
The Korea Fair Trade Commission announced on Feb. 9 that it would impose a fine of 42.3 billion won on Mercedes-Benz, BMW and Audi with regard to software tampering related to diesel exhaust fluid (DEF). The fines on them are 20.7 billion won, 15.7 billion won and 6 billion won, respectively.The com
The Korea Forest Service and the Ministry of Agriculture and Rural Development of Vietnam held a mangrove planting event in the Red River Delta area in Ninh Bình.The afforestation event was held as a part of South Korea’s official development assistance in Vietnam. In this ODA project, aquaculture i
The Ministry of Trade, Industry and Energy joined the Minerals Security Partnership (MSP) meeting and discussed cooperation with African states on Feb. 7. The Ministry of Foreign Affairs and the Korea Mine Rehabilitation and Mineral Resources Corp. joined it together with the ministry to check on th
The South Korean government announced on Feb. 7 that South Korea’s foreign exchange market would be further opened in the second half of next year.According to the announcement, foreign financial institutions located abroad can participate in the market. At present, institutional trading and transac
Romanian military personnel visited Hyundai Rotem and Hanwha Aerospace on Jan. 31. They looked around Hyundai Rotem’s K2 tank and armored vehicle plant and Hanwha Aerospace’s K9 howitzer and Redback IFV plant that day.In December last year, Romanian Prime Minister Nicolae Ciuca visited South Korea w
The financial authorities are preparing to improve the governance structure of companies with dispersed ownership. In Korea, privatized public companies such as POSCO and KT, and financial holding companies such as Woori, Shinhan, Hana, and KB Financial Groups have dispersed ownership without a cont
A warning light has been lit on Korea's export front. Due to a sluggish global semiconductor industry, Korea’s semiconductor exports were cut in half, and Corporate Korea suffered the largest-ever January trade deficit. In particular, the Korean economy is faced with the troubling fact that the
Whatever you imagine when you think of a school headmaster, Guðmundur Hegner Jónsson is likely to surprise you. Originally from Iceland and standing close to two meters in height, he has dug up the world’s past as an archaeologist, recorded in the same studio as The Beatles, and speaks four language
Korea South-East Power (KOEN) and Korea East-West Power (EWP) have joined hands to jointly develop a hydropower plant project in Pakistan.The two companies signed an agreement for joint development of the Asrit-Kedam hydropower power plant (229MW) project in Pakistan at the Marriott Hotel in Yeouido
Korea Electric Power Corp. (KEPCO) announced on Feb. 2 that its president Cheong Seung-il visited the United Kingdom for two days from Jan. 31 to Feb. 1 to meet with high-ranking officials from the U.K. government, parliament and industrial world.Cheong attended the Nuclear Week in Parliament, spons