Safe handling of radioactive waste, which is hazardous to most forms of life and the environment, is essential for countries that depend heavily on nuclear energy. Following a recommendation by the International Atomic Energy Agency, the Korea Radioactive Waste Management Corp. was launched in 2009 to transport, store, treat and dispose of radioactive waste, build and manage radioactive waste disposal facilities, and conduct related research and development.The KRMC is scheduled to complete the

IndustryMarch 26, 2012

Spurred by its robust drive to export nuclear plant technology, Korea will be rolling out a next-generation reactor that is safer, better performing, built faster and more cost-effective next year, the industry’s top expert said. The new model, named APR+, is a brainchild of the government’s “Nu-Tech 2015” package initiated in 2006, aiming to secure technological independence and shake off any lingering barriers to exports by the end of 2015. Succeeding the APR1400 currently in operation, the AP

IndustryMarch 26, 2012

More nations will consider building nuclear power plants, says scholarKorea is running far short of high-skilled manpower for industrial use of nuclear energy, said Park Goon-cherl, president of the KEPCO International Nuclear Graduate School which opened early this month in Ulsan. The nascent school established and funded by the Korea Electric Power Corp. and four other public power-related companies recruited 61 freshmen for this year, 29 of whom are overseas students recommended by their gove

IndustryMarch 26, 2012

Company pushes for value chain upgrade and expansion into overseas marketsSamsung C&T Corp., a listed construction arm of the Samsung Group, is pushing ahead with a set of measures to turn itself into a global total solutions provider. The company, established in 1938, is expanding its coverage into feasibility surveying, engineering, procurement, construction and operation and management. The expansion of the value chain, Samsung said, is aimed at detecting and developing fresh business opportu

IndustryMarch 26, 2012

Ahmed Subaey, outgoing chief executive of S-Oil Corp., said the Korean government and the private sector should work together to stabilize oil prices.“Unlike gold or copper, oil is not just a commercial commodity. Crude oil has several dimensions -- environmental, geopolitical and social,” Subaey told reporters on Monday, three days after his term ended as the refiner’s CEO. “Oil prices are too high now and they are driven not by supply and demand, but by geopolitical fears. If we can bring the

IndustryMarch 26, 2012

Local food giant CJ Group hopes to expand its international reach with the iconic Korean cuisine bibimbap, a steamed rice dish mixed with assorted vegetables and meat.CJ, which launched bibimbap restaurant chain Bibigo in May 2010, said it plans to increase the number of overseas Bibigo locations from the current three to 17 within the year. Bibigo, which was envisioned as a global brand from its beginnings, has a total of 10 stores now, including branches in Los Angeles, Beijing and Singapore. 

IndustryMarch 26, 2012

Chairman Chey aims high with synergy with the world’s No. 2 chipmakerICHEON, Gyeonggi Province -- SK Group chairman Chey Tae-won on Monday showed confidence that the nation’s third-largest conglomerate can produce synergy with the newly acquired chipmaker SK Hynix, formerly Hynix Semiconductor. “Through Hynix, SK Group will strengthen competitiveness in technologies, not just in the semiconductor sector, and earn more credibility globally,” said Chey, who is also the co-CEO of SK Hynix, during t

IndustryMarch 26, 2012

Some world leaders are making the most of their attendance at the Nuclear Security Summit as an opportunity to cement business ties with Korea. On Monday, leaders from Chile, Finland, Nigeria, New Zealand, Thailand and Britain opened a business forum, discussed economic cooperation with business chiefs from Korea, or visited Korean companies.On the sidelines of their leaders’ brisk business activities, some foreign governments inked agreements with their Korean counterparts on economic cooperati

IndustryMarch 26, 2012

Korea and Mexico signed an agreement to accelerate the examination of patent applications, the Korean Intellectual Property Office said on Monday. The Patent Prosecution Highway allows applicants who have successfully obtained a patent from the Korean office pursue an accelerated patent examination in Mexico, or vice versa. The national office said the deal will cut the period between application and grant from an average of three and a half years to a month. “KIPO Commissioner Lee Soo-won and h

March 26, 2012

New Zealand’s prime minister on Monday expressed hope that a free trade agreement between his country and Korea will be concluded soon.After a meeting with members of New Zealand Chamber of Commerce in Seoul, Prime Minister John Key told The Korea Herald that without a free trade agreement, his country’s companies would eventually be priced out of the Korean market. The New Zealand leader came to Korea to attend the Nuclear Security Summit that began its two-day run in Seoul on Monday.Key added

March 26, 2012

Daewoo International Corp., a Korean trading house, said Sunday it had launched a volunteer corps to support the education of underprivileged children as part of its social contribution efforts.Its employees will provide free English classes at children centers in Seoul and the metropolitan area and host other educational events every month, the company said.In a separate program, Daewoo said it also created a youth volunteer group consisting of the children of its employees. Its 26 members plan

IndustryMarch 26, 2012

A group of British scientists have discovered that a certain part of the brain is larger in people that have many friends, Science Daily reported Saturday.The size of the brain’s orbital prefrontal cortex -- placed just above the eyes -- is linked to people’s ability to understand what others are thinking, or to “mentalize,” according to a joint study by the Universities of Oxford, Liverpool University, Manchester University and Edinburgh University. It is thought that the ability to mentalize i

TechnologyMarch 26, 2012

World’s sixth reactor exporter seeks to expand foray into global markets after UAE dealSince a watershed deal with the United Arab Emirates in 2009, Korea has been ratcheting up its ambitions to promote its know-how in nuclear plant construction overseas. The $20 billion contract has since bolstered Korea’s confidence in its newly defined foray into the high-entry-barrier market, making it the sixth member of the league of reactor exporters following the U.S., France, Russia, Canada and Japan. E

IndustryMarch 25, 2012