Korea to lure more skilled foreign talent

SEOUL, September 27 (AJP) - Korea is set to attract more skilled workers from abroad as the country faces a declining population. The Ministry of Trade, Industry, and Energy said on Friday that it will introduce a new visa program for foreigners in high-tech industries and also streamline the overall process for obtaining work permits. "Unlike other countries such as Japan and Singapore, which are keen to attract global talent, Korea lags behind by focusing primarily on nurt

September 27, 2024

KEPCO builds largest energy storage system in Asia

SEOUL, September 27 (AJP) - Korea Electric Power Corp. (KEPCO) has constructed Asia's largest energy storage system (ESS) in the southern city of Miryang. The state power company held a completion ceremony on Thursday for the 978 megawatt-class ESS for grid stabilization in Miryang. The ESS is a system that stores electricity when demand is low and supplies it during peak times. This project, with a total investment of 830 billion won, involved installing a power conversion s

September 27, 2024

POSCO Future M delays completion of Canadian JV cathode plant

SEOUL, September 27 (AJP) - Korean battery materials maker POSCO Future M announced postponing the completion of its cathode material plant in Canada, a joint venture with General Motors (GM). The facility in Bécancour, Québec, originally scheduled to be finished on Sept. 30, will see its completion date adjusted due to local conditions, the company said in a regulatory filing on Thursday. "We are currently adjusting the completion schedule due to local circumstan

September 27, 2024

Samsung unveils Galaxy Tab S10 series with enhanced AI features

SEOUL, September 27 (AJP) - Samsung Electronics on Friday released its new premium tablet line, the Galaxy Tab S10 series, featuring the S10 Ultra and S10+ models. The devices boast Dynamic AMOLED 2X displays and are powered by MediaTek Dimensity 9300+ processors, offering improved performance compared to previous models. The tablets incorporate AI-optimized features for large screens, including Note Assist for voice recording transcription and PDF translation, and Circle to Search

September 27, 2024

Philippines aims to launch commercial nuclear power by 2032

SEOUL, September 27 (AJP) - The Philippine government has unveiled plans to start operating commercial nuclear power plants with a minimum capacity of 1,200 megawatts by 2032. Sharon Garin, Undersecretary of the Philippine Department of Energy, announced this goal at the International Atomic Energy Agency (IAEA) General Conference in Vienna, Austria. The country aims to gradually increase nuclear power capacity to 4,800 megawatts by 2050. In preparation for this nuclear initiative,

September 27, 2024

Korean trade association opens office in Poland

SEOUL, September 27 (AJP) - The Korea International Trade Association (KITA) said Friday it has opened its second overseas office in Europe in Warsaw, the capital of Poland, to support exports to Central and Eastern Europe. Poland is Korea's second-largest export destination in the European Union, KITA said, adding that the two countries are collaborating in various fields, including batteries, defense, infrastructure, and the reconstruction of Ukraine. "Last year, trade

September 27, 2024

Indonesia applies to join CPTPP, aims for economic reform

SEOUL, September 27 (AJP) - Indonesia has officially applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a Japan-led multilateral free trade agreement in the Asia-Pacific region. Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto announced that the country had sent a letter of application to New Zealand, aiming to become the 13th member of the CPTPP. Minister Airlangga said, "This decision is to structura

September 27, 2024

Seoul court rules Samsung C&T not liable for delayed interest to Elliott

SEOUL, September 27 (AJP) - A Seoul court ruled on Friday that Samsung C&T is not required to pay delayed interest to the U.S. hedge fund Elliott in a lawsuit over a controversial merger between two Samsung Group units. The Seoul Central District Court rejected Elliott's claim for the additional payment of 26.7 billion won (US$20.2 million), which stemmed from a dispute over Samsung C&T's merger with Cheil Industries in 2015. Elliott opposed the merger and exercis

September 27, 2024

SK Ecoplant unit launches battery recycling plant in Netherlands

SEOUL, September 27 (AJP) - SK tes, a subsidiary of Korean environmental services firm SK Ecoplant, announced the inauguration of a battery recycling facility in Rotterdam, Netherlands on Friday. The plant, capable of processing batteries from about 40,000 electric vehicles annually, aims to strengthen the company's position in the growing European battery recycling market. The facility, spanning 10,000 square meters, can produce up to 10,000 tons of black mass per year. Black m

September 27, 2024

Samsung Electronics struggles with labor union in India

SEOUL, September 27 (AJP) - Workers at Samsung Electronics' factory in southern India have been on strike for three weeks. According to Samsung Electronics, workers at the factory in Sriperumbudur, Tamil Nadu, have formed the Samsung India Labour Welfare Union (SILWU), under the Centre of Indian Trade Unions (CITU), which is affiliated with the Communist Party. The workers have refused to work since Sept. 9. The Chennai factory, built by Samsung Electronics in 2007, produces

September 27, 2024