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Reporter : Lee Kyung-min
Sat, February 4, 2023 | 11:29
Gov't to provide $293 billion in trade financing to revitalize exports
The government will provide a total of 360 trillion won ($293 billion) in trade financing and assistance with obtaining certifications for local exporters abroad as part of its efforts to boost the nation's faltering exports amid deepening global economic downturn, according to trade ministry officials Friday.
KEPCO to sell non-essential assets, cut expenditures to secure $16 billion by 2026
Debt-ridden Korea Electric Power Corp. (KEPCO) plans to sell non-essential assets and cut expenditures to secure 20 trillion won ($16 billion) over the next five years as part of an emergency austerity measure to offset snowballing operating losses, the state-run firm said, Friday. Propelling the rushed effort to fortify financials is the recent spike in heating costs due to ...
Unionized workers at Samsung Electronics' affiliates form alliance
A coalition of unionized workers at nine affiliates of Samsung Electronics formed an alliance, Thursday, in what they say will function as the first unified communication channel to have their collective demands better met. Among the affiliates involved are electronics, display, battery manufacturing, customer services and electronic goods sales. Market watchers say whether t...
Gov't to mandate fire-resistant materials in soundproof tunnels
The government will replace acrylic sheets with polycarbonate sheets and tempered glass when setting up soundproof tunnels, the infrastructure ministry said Thursday, in the latest measures to strengthen fire-proofing to prevent fire-sparked mass casualties. The cheap acrylic materials were the cause of extended and amplified damages from the fire on the expressway between Se...
SK oceanplant seeks future in oceans
SK oceanplant, an offshore wind power affiliate of SK Group, plans to become the first mover in the global top-tier offshore wind power generator industry. The subsidiary of SK ecoplant said Wednesday that it has been rebranded as SK oceanplant from Samkang M&T and adopted a new corporate identity.
Korea suffers record-high trade deficit in January amid falling exports
Korea registered an all-time high trade deficit of $12.69 billion (15.62 trillion won) in January, marking the 10th consecutive month of deficits, which were brought on by surging energy imports and plunging exports, the trade ministry said Wednesday. Experts say the recent slowed growth of exports will continue at least during the first half of this year, as global consumers...
Hyundai Motor unveils mobility's future as mobile living space
Hyundai Motor Group unveiled an animated video called “Mobile Living Space,” which it says will redefine future mobility as an organic connection mechanism between vehicles and buildings.
POSCO Holdings to fortify silicon anode output to bolster materials biz
POSCO Holdings said, Friday, that it will invest 59.1 billion won ($47.8 million) with its subsidiary POSCO Silicon Solution to build silicon anode production facilities, in a move to fortify its secondary battery materials business. Construction of the plant, with an annual production capacity of 450 tons, will begin in June in Pohang, North Gyeongsang Province. It will be c...
Middle East 'sales diplomacy' picks up speed
Minister of Land, Infrastructure and Transport Won Hee-ryong is accelerating efforts to win overseas construction orders in Saudi Arabia, Iraq and Qatar, the ministry said on Friday. Won met with trade, transport and interior authorities in the three Middle Eastern countries during his trip from Wednesday to Thursday (local time) to fortify cooperation in smart-city planning ...
People attempt to cut surging heating costs with creative solutions
A man in his 20s, surnamed Kim, has set up a tent over his bed, a decision he said has greatly helped with the recent cold wave. He lives alone in a small housing unit that provides centralized heating. “I was unsure about it at first,” he said. “But now that I have used it for a couple of days, I understand why this was so popular online. It's better than you think. I highly...
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