SEOUL, Aug. 15 (Korea Bizwire) — South Korea will develop its own next-generation Advanced Air Vehicle (AAV) capable of low-noise, eco-friendly, vertical and short takeoff and landing, aiming for a maiden flight in 2030 and mission demonstrations in 2031, the national space and aerospace agency said Thursday. The Korea Aerospace Administration unveiled the plan during [...]
SEOUL, Aug. 15 (Korea Bizwire) — South Korea’s nuclear regulator has warned that rapidly warming seawater — used to cool reactors — could force as many as eight reactors offline within the next 10 years unless cooling capacity is improved. At a meeting on August 14, the Nuclear Safety and Security Commission received a report [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea’s top container shipper, HMM Co., said Thursday it will buy back and cancel its own shares worth 2.14 trillion won (US$1.54 billion) as part of its shareholder return policy. In a regulatory filing, the company said it will repurchase roughly 81.8 million shares, or 7.98 percent of [...]
SEOUL, Aug. 14 (Korea Bizwire) – South Korea’s nuclear safety commission on Thursday approved the restart of the Shin-Hanul 2 reactor, which had been shut down for maintenance following two malfunctions earlier this year. The Nuclear Safety and Security Commission authorized the reactor to reach a “criticality” level, enabling the resumption of operations after repairs [...]
SEOUL, Aug. 14 (Korea Bizwire) — Korean Air Co. said Thursday it has completed the first stage of a large-scale lounge renewal project at Incheon International Airport, introducing redesigned spaces to enhance the preflight experience for customers. The overhaul at the airport, South Korea’s main gateway west of Seoul, includes the fully renovated Miler Club [...]
SEOUL, Aug. 14 (Korea Bizwire) — Seoul Metro is appealing for commuter cooperation as it struggles to manage a flood of complaints over subway heating and cooling, with the vast majority concerning uncomfortably hot trains. From May to July this year, the operator received more than 340,000 temperature-related grievances — an average of 3,520 per [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea could see its economy expand by the equivalent of 6% of GDP if the number of foreign residents increased by one million, according to a new study by the Korea Chamber of Commerce and Industry (KCCI) and a research team led by Professor Kim Deok-pa of Korea [...]
SEOUL, Aug. 14 (Korea Bizwire) — The South Korean government will create an interagency task force to support a shipbuilding partnership with the United States, a project officials say could open new markets for Korean shipyards while aiding the revival of America’s own maritime industry. Industry Minister Kim Jung-kwan announced the plan on Thursday during [...]
SEOUL, Aug. 14 (Korea Bizwire) — Hyundai Steel has withdrawn a 4.61 billion won ($3.4 million) damages lawsuit against members of its irregular workers’ union, who staged a strike in 2021. The move comes as the ruling Democratic Party pushes to pass the so-called “Yellow Envelope Law” this month, aimed at limiting companies’ ability to seek [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea has established its first national body dedicated to advancing organoid technology, marking a significant step toward standardizing and commercializing the field amid growing global demand for alternatives to animal testing. The K-Organoid Consortium, officially launched on August 13 at The Westin Josun Seoul, brings together 27 companies [...]