SK Eternix secures W461b funding for fuel cell projects

South Korean energy company SK Eternix announced Monday that it has partnered with Charmvit Group and KDB Infrastructure Asset Management to fund high-efficiency solid oxide fuel cell power plant projects. Late last month, SK Eternix signed an agreement with multiple financial investors to secure 461 billion won ($336.1 million), marking the largest investment to date in Korea's fuel cell sector. The company anticipates this partnership will cover 85 percent of the total investment cost of

IndustryNov. 4, 2024

SPC shares business know-how with Mongolian delegation

South Korean bakery giant SPC Group said Monday that it has shared its overseas business know-how and advanced baking techniques with a delegation of Mongolian government and business officials during their stay in Seoul. The delegation of some 10 people visited SPC’s premium bakery cafe, Passion5, in Itaewon, central Seoul, on Friday, during which they were given an in-depth overview of SPC’s overseas strategy and expansion plans. The company said it shared essential strategies it a

CompaniesNov. 4, 2024

[From the Scene] A rare glimpse into Mercedes' data-driven battery assembly

HEDELFINGEN, Germany -- At Mercedes-Benz’s battery production facility in Hedelfingen, Stuttgart, a group of Korean reporters was recently given a close-up look at how the automaker assembles the battery packs that power its flagship electric vehicles, the EQS and EQE. The visit offered a rare glimpse into the detailed, highly automated process that Mercedes-Benz takes on to ensure the reliability of its EV batteries. “Every little part is recorded and can be kept for up to 30 years

MobilityNov. 4, 2024

Exhibition invites children to rethink stars, light pollution

An exhibition for children has opened that invites them to take action on reducing light pollution and appreciate the stars. “Starry Starry Night!,” running through August 2026 at the National Folk Museum of Korea, explores night and darkness. Children up to elementary school age are led to study the diminishing presence of stars, which are being drowned out by artificial light, said curator Yoo Min-ji, who led the preopening tour Monday. “Of all the topics that could help rais

Arts & DesignNov. 4, 2024

270 busted in medical insurance fraud

About 270 individuals, including medical professionals, brokers and fake patients, have been busted by police for their alleged involvement in an insurance fraud scheme to falsely claim a combined 1 billion won ($729,000) in payouts by faking cosmetic procedures as medical treatments. The Financial Supervisory Service on Sunday said Busan Nambu Police Station had apprehended the scammers last month. The scheme was uncovered after the FSS received several reports on the insurance fraud to its rep

Social AffairsNov. 4, 2024

Celltrion expands European reach with anti-imflammatory drug

Celltrion has launched Steqeyma, a biosimilar of Stelara (ustekinumab) for autoimmune disease treatment, across Europe, broadening its product portfolio to further strengthen its position in the European biopharmaceutical market. On Friday, Celltrion introduced Steqeyma in Germany, one of Europe’s top five pharmaceutical markets, and in the Netherlands. To expedite the product launch, Celltrion’s German subsidiary completed essential preliminary steps, including drug price listing an

IndustryNov. 4, 2024

Buddhist temple plays matchmaker for 7 couples

Seven couples were matched in the latest edition of a popular Templestay matchmaking program conducted by South Korea's largest Buddhist sect, that wrapped up on Sunday. The two-day Templestay program "Naneun Jeollo" (I Go to the Temple), for young men and women across the country, was held from Saturday to Sunday at Baekyangsa Temple in South Jeolla Province. Organized by the Jogye Order's social outreach arm, the Korean Buddhist Foundation for Social Welfare, twelve men and

CultureNov. 4, 2024

Ex-official, disgruntled over ruling to split pension with ex-wife, found dead

A retired government official was found dead inside his car in the parking lot of a Gwangju court on Saturday, after he had left a note expressing his frustration with the court's order to give half of his pension to his ex-wife. The two had recently divorced. The body was found at around 8 p.m. in the car parked outside the Gwangju Family Court in Seo-gu, Gwangju, which had handled the divorce lawsuit for the man. It had ruled that the man should give half of the payout from his Government

Social AffairsNov. 4, 2024

Gangnam Station ramming suspect to face detention

The court will review an arrest warrant for a woman who rammed into seven cars and drove the wrong way along a boulevard near Gangnam Station in southern Seoul. The review will be held in Seoul Central District Court at 3:30 p.m. Monday, after police requested the warrant the previous day. The woman in her 20s was caught driving without a license after causing an accident on the street near Exit No. 12 of Gangnam Station at 1:39 p.m. on Saturday, according to local media. She was reportedly pull

Social AffairsNov. 4, 2024

Czech Republic applauds South Korean support for Ukraine

The Czech Republic applauded South Korean support for Ukraine, as it celebrated its Independence Day on Oct. 28. Czechoslovak Independence Day commemorates the founding of Czechoslovakia in 1918 and continues to serve as a significant symbol of national identity for Czechs, despite the 1993 division into the Czech Republic and Slovakia. In his remarks at the event, Czech Ambassador to Korea Ivan Jancarek used the occasion to praise South Korea’s support for Ukraine and the strengthening Cz

Foreign AffairsNov. 4, 2024

Turkmenistan, S. Korea tout bilateral initiatives

Turkmenistan and Korea highlighted bilateral initiatives at an event marking Turkmenistan's 33rd Independence Day on Wednesday. The Central Asian country celebrates its independence from the Soviet Union, declared on Oct. 27, 1991, after the Cold War and the Soviet Union's breakup. Speaking at the event at a Seoul hotel, Turkmen Ambassador to Korea Begench Durdyyev highlighted Turkmenistan's development journey, and the milestones in bilateral relations with South Korea, and honor

Foreign AffairsNov. 4, 2024

Harris, Trump gird for Tuesday's election showdown; polls show them in dead heat

US Democratic presidential candidate Kamala Harris and her Republican rival Donald Trump are bracing for this week's high-stakes election showdown, with various polls showing them in a tight margin-of-error race. Voters will go to polling stations nationwide on Tuesday to pick a new president. More than 75 million Americans had already cast an early ballot, data from the University of Florida showed. The number of eligible voters is estimated at about 244 million, according to the Bipartisa

Foreign AffairsNov. 4, 2024

S. Korea, UN host joint disarmament conference for foreign diplomats

The foreign ministry will host a group of foreign diplomats this week for a joint conference and other programs with the UN to brief them on South Korea's disarmament efforts and its North Korea policy, the ministry said Monday. The two-day South Korea-UN disarmament conference, running through Tuesday, will bring together 25 diplomats from Europe, Latin America, the Asia-Pacific, Africa and the Middle East who are currently engaged in disarmament diplomacy, the ministry said in a release.

Foreign AffairsNov. 4, 2024

PPP leader urges Yoon to issue public apology over allegations surrounding first lady

Ruling party leader Han Dong-hoon on Monday called on President Yoon Suk Yeol to issue a public apology and reshuffle aides at the presidential office to address growing concerns over allegations surrounding the first lady. Han of the People Power Party made the remarks during a meeting of the party's supreme council, calling for a "complete" personnel overhaul of the presidential aides. "The president should publicly and thoroughly address the concerns of the people, issue a

PoliticsNov. 4, 2024

Seoul shares open higher on US gains

South Korean stocks kicked off slightly higher Monday tracking tech gains on Wall Street, while investors were paying close attention to the US presidential election and the Federal Reserve's rate decision to take place later this week. The benchmark Korea Composite Stock Price Index rose 8.6 points, or 0.34 percent, to 2,550.96 in the first 15 minutes of trading. On Friday, Wall Street finished higher, with the Dow Jones Industrial Average up 0.69 percent, the tech-heavy Nasdaq composite u

MarketNov. 4, 2024

PM to deliver 2025 budget speech at National Assembly

Prime Minister Han Duck-soo will deliver the government's 2025 budget speech at the National Assembly on behalf of President Yoon Suk Yeol on Monday, Han's office said. It marks the first time in 11 years that a sitting president has not addressed parliament on the annual budget. Yoon presented the budget speech the past two years after taking office in May 2022. Since 1988, it has been customary for presidents to outline their key priorities to lawmakers before submitting the governme

PoliticsNov. 4, 2024

[Graphic News] MS tops Forbes’ Best Employers List, Samsung ranks 3rd

Microsoft topped Forbes’ World’s Best Employers list for 2024, surpassing Samsung Electronics, which had previously held the top spot for four consecutive years since 2020. Alphabet, Google’s parent company, secured second place, with Samsung ranking third. The list, based on a survey conducted by Forbes in collaboration with German polling firm Statista, polled over 300,000 employees from more than 50 countries, focusing on multinational companies with over 1,000 employees o

World BusinessNov. 4, 2024

[팟캐스트] (633) 바뀌는 외환거래법이 가상자산에 미치는 영향은?

진행자: 간형우, Chelsea Proctor Korea to regulate cross-border trading of crypto 기사 요약: 정부, 가상자산 악용 사례 막기 위해 관련 외국환거래법 개정안 내년 하반기 시행 추진 [1] The Korean government is to tighten the monitoring of cross-border trading of virtual assets, including cryptocurrency, through a revised law set for enactment by the latter half of 2025. tighten: 더 엄격하게 하다 revise: 변경하다 enactment: 입법 latter: 후자의, 후반의 [2] According to the ministry, as the cross-border trading of virtual assets increases, illegal transactions, inc

PodcastNov. 4, 2024

[Tyler Cowen] AI's uneven effect on economy

One of the only things growing faster than progress in AI applications is speculation about AI’s effect on the economy. I don’t have all the answers, not by a long shot, but I do think we should expect great unevenness in adaptation, and that itself will alter our world. To see how this is likely to play out, start with a distinction between sectors in which it is relatively easy to go out of business, and sectors in which it is not. Most firms selling computer programming services,

ViewpointsNov. 4, 2024