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President Moon proposes international embargo on oil supplies to N. Korea In an apparent message to China, seen as North Korea's economic lifeline, South Korean President Moon Jae-in floated the idea of imposing an oil embargo as the international community discussed tougher sanctions in response to a fresh nuclear test by the isolated regime. At a telephone conversation, Moon suggested that the United Nations Security Council should hold serious discussions about cutting off oil supplies to North Korea, according to a statement published by th September 5, 2017
Auto companies anxiously await court ruling on wage definition Helped by strong labor union activities, auto company workers are relatively well paid, along with good fringe benefits and welfare, but concerns are growing about low productivity and frequent strikes more than ever as South Korean cars are losing their competitiveness abroad. At the end of 2016, the average income of workers at five car manufacturers stood at 92.13 million won (81,387 US dollars), which is higher than that of Volkswagen and Toyota, according to the Korea Au August 23, 2017
President Moon defends 'nuclear-exit' policy as less radical than Europe's South Korean President Moon Jae-in vowed to push ahead with his campaign to reduce the use of fossil energy, describing his "nuclear-exit" policy as less radical than those adopted by some European countries. In a bid to allay growing concerns and controversy about a potential power shortage, Moon said his policy would not cause a steep rise in electricity rates because nuclear reactors would be shut down one by one over a long period of time in consideration of thei August 17, 2017
[COLUMN] Nuclear-exit must be reconsidered for successful 'Moonlight Policy' (This article was contributed by Lee Jae-ho, a professor at Dongshin University.) It is regrettable that discussion on phasing out nuclear power plants is proceeding only in terms of the environment, safety, and cost. I wonder if we should look at least once into the big framework of inter-Korean relations. North Korea is suffering from a serious power shortage. There is a famous anecdote that our delegation to the North had to hold talks with a candle lit up because of a bla July 25, 2017
Presidential advisory group proposes tough anti-nuclear policy A presidential advisory panel put the proportion of clean and renewable energy in generating South Korea's total electricity at 28 percent by 2030 to support President Moon Jae-in's campaign aimed at reducing the use of fossil and nuclear energy. By 2023, power utility firms are required to generate 10 percent of their electricity with solar and other renewable energy, the State Affairs Planning Advisory Committee said in policy recommendations which set the cour July 19, 2017
Board members hold secret meeting to endorse suspended reactor construction Police are on patrol in the headquarters of South Korea's nuclear power operator in the southeastern city of Gyeongju. At an undisrupted meeting in a hotel room, the 13-member board of South Korea's power plant operator endorsed a government decision to suspend the construction of two nuclear reactors under President Moon Jae-in's "nuclear exit" policy. The meeting came a day after hundreds of workers blocked board members from entering a building u July 14, 2017
Hyundai shipyard and Saudi Aramco agree to build joint engine plant Hyundai Heavy Industries, the world's largest shipbuilder, has agreed with Saudi national oil giant Aramco to invest 400 million US dollars in building a joint factory capable of producing some 200 engines a year by 2019. Under a memorandum of understanding, Hyundai Heavy said the facility would be built on a shipbuilding complex in Ras Al-Khair. The shipbuilder will provide technology and parts related to its trademark Himsen engine in return for July 5, 2017
STX shipbuilding graduates from court receivership STX Offshore & Shipbuilding graduated from court management to resume normal operations, nearly 14 months after the troubled shipbuilder was put under receivership to liquidation. A bankruptcy court said it has terminated its receivership, citing the shipbuilder's improved financial status. STX, which used to be the country's fourth-largest shipbuilder, filed for court receivership on May 27 after creditors concluded that it has no chance of coming back despite a m July 3, 2017
S. Korea builds world's largest floating and rotating solar power plant Floating solar power plant is sitting on the dried-out lakebed in South Korea. Buoyed by the fine operation of the world's first floating solar power plant that tracks sunlight, Solkiss launches a new project this week to build more plants using solar energy on the surface of two reservoirs in South Korea's remote rural areas. The solar energy firm gained fame in 2014 for opening a floating and rotating solar power plant capable of producing 465 kilowatts per hour in A June 28, 2017
Cabinet approves temporary shutdown of two reactors under construction In his first cabinet meeting, South Korean President Moon Jae-in approved the temporary shutdown of two nuclear reactors under construction pending public hearings and debate for three months. The decision, announced by Hong Nam-ki, who heads the Office for Government Policy Coordination, takes effect on Tuesday, and construction of the two reactors, slated for completion in 2022, in South Korea's largest Gori nuclear complex near the southeastern port city of Busan came t June 27, 2017