Opposition leader vows to curb use of atomic power, experts warn of political motivationIn an increasingly volatile race for parliament, nuclear power is creeping up the political agenda as opposition lawmakers seek to exploit growing safety jitters to retake power in next month’s vote.Concerns about the safety of the nuclear industry are rife after news broke last week that plant operators had attempted to cover up a power cut at a reactor in Busan for over a month.Though it caused no damage or

Industry March 18, 2012

The government came under pressure as a soaring number of Koreans are casting doubt on atomic energy after plant operators were found to have attempted to conceal power loss at a nuclear reactor in Busan. Despite no damage or radiation leakage, the accident infuriated the public and anti-nuclear protesters. They raised questions over the public workers’ integrity and whether they are prepared for a longer outage that could result in a disaster like that seen in Japan.The 12-minute blackout occur

Industry March 15, 2012

KITA chairman forecasts herald interview 7-8 percent growth for Korea’s trade volumeThis is the second of a series of interviews of top officials on FTAs in light of the Korea-U.S. FTA taking effect. ― Ed.Despite persistent signs of fragility clouding the world economy, free trade pacts will lend a fresh impetus to Korea and its counterparts, said Han Duck-soo, chairman of the Korea International Trade Association.With the Korea-U.S. FTA taking effect Thursday, Han predicts that trade volume for

March 14, 2012

Economic growth in Korea continued to wane through 2011. But although the region’s manufacturing activity and private spending and investment weakened, the Asia-Pacific office market ended 2011 with a solid upturn in leasing activity. Rent growth was sustained in most markets and strengthening demand fueled flat to declining vacancies. “Office Space Across the World,” one of Cushman & Wakefield’s longest-running annual global publications, examines total occupancy costs for prime space in 68 cou

Industry March 13, 2012

Recent TV coverage of youngsters singing and dancing along with K-pop idol groups during their recent performances in France has left a deep impression on many Koreans. The Korean Wave is not limited to K-pop; it has also been brought about by Korean dramas. Yet there is another area about to create an additional wave, which is Korean cadastre, a comprehensive record of real estate based.Haitian officials ― Leslie Jean Saint Louis, vice president of the Office of National Cadastre of Haiti; Nico

Industry March 13, 2012

Intangible cultural heritage heir looks to international marketsSoju has long been a favorite drink of Koreans across all spectrums of society. Its crisp, bittersweet flavor and relatively low price often tempt all from the rank and file to CEOs and presidents in times of economic crisis and personal struggle. Moonbaesool Brewery Co.’s hand-made soju is one of the oldest distilled liquors here, dating back over 150 years. The traditional drink, which was first made using water from Daedong River

Industry March 13, 2012

More Koreans demand tax cut, while policymakers see little benefit Sky-high oil prices are reigniting debate over a fuel tax break, pushing policymakers toward a tricky decision in a crucial election year.With petrol prices across the country setting new records by the day, low-income earners and professional drivers are increasingly blaming their hardships on taxes, which account for more than half of what they pay at the pump.The government, however, appears to be walking a tightrope between t

March 11, 2012

Doosan Infracore Co. said it broke ground on Tuesday for its first research and development center in China, spurring its foray into one of the world’s fastest growing construction equipment markets. The laboratory, which will sit on an 8,000-square-meter site in Yantai, eastern China, will be devoted to developing wheel loaders, the Korean engineering firm said. Construction will be completed by the end of the year.The Seoul-based company said it will spend 11 billion won ($9.8 million) to inst

Industry March 6, 2012