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KEPCO Pioneers AI for Executive Hiring

KEPCO Pioneers AI for Executive Hiring

SEOUL, Mar. 18 (Korea Bizwire) – The Korea Electric Power Corporation (KEPCO), one of South Korea’s largest state-run companies, is breaking new ground by deploying artificial intelligence to assist in identifying and recommending talent for key leadership positions. The power utility has developed an “AI-based talent recommendation system” that taps HR and job performance data to [...]

Ulsan Port Authority Inaugurates New Liquid Cargo Terminal, Eyeing Future as World’s First Hydrogen Hub

Ulsan Port Authority Inaugurates New Liquid Cargo Terminal, Eyeing Future as World’s First Hydrogen Hub

ULSAN, Mar. 15 (Korea Bizwire) – The Ulsan Port Authority celebrated the completion of the ‘North New Port Liquid Terminal’ in Hwangseong-dong, Nam-gu, at the North Port of Ulsan on March 15. The new facility, boasting a 300-meter quay wall, a 440-meter sheltered harbor, and a 12,600 square meter port hinterland, represents a significant enhancement [...]

Korea Zinc, LG Chem Sign MOU for Partnership in U.S. Recycling Market

Korea Zinc, LG Chem Sign MOU for Partnership in U.S. Recycling Market

SEOUL, Mar. 15 (Korea Bizwire) — Korea Zinc Co., South Korea’s leading nonferrous metal processing firm, said Friday it has partnered with LG Chem Ltd. for business opportunities in the U.S. used plastics recycling market. Korea Zinc signed a memorandum of understanding with LG Chem to win used plastics recycling projects in the United States [...]

Industry Minister Asks Petroleum Firms to Avoid Price Hike

Industry Minister Asks Petroleum Firms to Avoid Price Hike

SEJONG, Mar. 14 (Korea Bizwire) – Industry Minister Ahn Duk-geun on Thursday asked petroleum companies to refrain from increasing the prices of their products amid lingering inflation and external uncertainties. The remark came as global oil prices continued to remain volatile due to the prolonged war between Russia and Ukraine, along with the geopolitical instability [...]

Battery Industry Charges Ahead: Breakthroughs Aim to Slash Electric Vehicle Charging Time

Battery Industry Charges Ahead: Breakthroughs Aim to Slash Electric Vehicle Charging Time

SEOUL, Mar. 12 (Korea Bizwire) – In a race against time, the battery sector is making strides towards developing technology that could dramatically speed up the charging process for electric vehicle (EV) batteries. The current benchmark to charge an EV battery to 80% capacity takes anywhere from 30 minutes to an hour, but the goal now [...]

Inflation Rises Back Above 3 Pct in Feb. on High Fruit, Energy Prices

Inflation Rises Back Above 3 Pct in Feb. on High Fruit, Energy Prices

SEOUL, Mar. 6 (Korea Bizwire) — South Korea’s inflation ticked up to over 3 percent in a month in February on high prices of fresh food items and energy, data showed Wednesday. Consumer prices, a key gauge of inflation, rose 3.1 percent on-year last month, compared with a 2.8 percent increase a month earlier, according [...]

South Korean Geoscience Institute Discovers Lithium Deposit in Kazakhstan

South Korean Geoscience Institute Discovers Lithium Deposit in Kazakhstan

SEOUL, March 5 (Korea Bizwire) –A South Korean geoscience research institute said Tuesday it found a lithium deposit in Kazakhstan last year and plans to push for its development. The deposit was found in a 1.6 kilometer-square area of pegmatites in eastern Kazakhstan, where tantalum was mined in the past, the Korea Institute of Geoscience [...]

Anticipated Surge in Demand for Essential Minerals Amid Electric Car and Wind Power Industry Growth

Anticipated Surge in Demand for Essential Minerals Amid Electric Car and Wind Power Industry Growth

SEOUL, March 3 (Korea Bizwire) – South Korea’s demand for key minerals is expected to jump up to nineteenfold from 2021 by 2040 due to expansion in the electric car and wind power industries, a report showed Sunday. The demand for lithium, nickel, manganese and cobalt, essential for electric car batteries, will be up by [...]

Progress Made Toward Commercial Operation of Final Unit of South Korean-Built Nuclear Reactor in UAE

Progress Made Toward Commercial Operation of Final Unit of South Korean-Built Nuclear Reactor in UAE

SEOUL, March 1 (Korea Bizwire) – The fourth and final unit of the South Korean-built Barakah Nuclear Energy Plant in the United Arab Emirates (UAE) has started up, signaling its commercial operation, South Korea’s state-run utility firm said Friday. The Unit 4 reactor began producing heat through nuclear fission, used for generating electricity, in a [...]

SK On Introduces Virtual Stock Incentive to Boost Employee Morale and Retention Amid Financial Challenges

SK On Introduces Virtual Stock Incentive to Boost Employee Morale and Retention Amid Financial Challenges

SEOUL, Feb. 22 (Korea Bizwire) –SK On, a relative newcomer in the battery industry, has announced a novel approach to employee compensation by offering virtual stocks to employees equivalent to 30% of their annual salaries. This move comes in the wake of the company facing a challenging financial year with zero performance bonuses allocated, stirring [...]