development Archives | Be Korea-savvy
N. Korea Starts Construction of Factories under Regional Economy Development Policy

N. Korea Starts Construction of Factories under Regional Economy Development Policy

SEOUL, Feb. 29 (Korea Bizwire) — North Korea has begun the construction of factories, state media reported Thursday, as its leader Kim Jong-un called for the development of backward provinces amid prolonged economic difficulties. Kim attended the groundbreaking ceremony for the construction of the regional industrial factories in Songchon County, South Pyongan Province, on Wednesday, [...]

Yoon Reveals Strategy to Open up Military Zones for Development

Yoon Reveals Strategy to Open up Military Zones for Development

SEOUL, Feb. 26 (Korea Bizwire) — President Yoon Suk Yeol said Monday the government will release a large area of military-protected land to the public to enable the construction of essential facilities and promote regional economic development. Yoon unveiled the plan during a government-public debate on livelihood issues, which was the 15th in a series and held on a military airfield in Seosan, 98 kilometers southwest of Seoul. Under the plan, Yoon said [...]

Busan’s Failed Expo Bid Puts a Damper on Development Plans

Busan’s Failed Expo Bid Puts a Damper on Development Plans

BUSAN, Nov. 30 (Korea Bizwire) – In a disappointing turn of events for residents of Busan, the city’s bid to host the 2030 World Expo has fallen through, casting shadows over key infrastructure projects, particularly the early opening of the eagerly anticipated Gadeokdo New Airport. The government, which once aimed to open the airport by December [...]

South Korea Tops Indonesian Travel and Development Aspirations, Survey Reveals

South Korea Tops Indonesian Travel and Development Aspirations, Survey Reveals

Jakarta, Nov. 8 (Korea Bizwire) – South Korea holds the top spot as the most desired destination for Indonesians to visit, with over 60 percent expressing that they find the country “suitable” as a model for their own nation’s development.  A recent survey conducted by the Embassy of the Republic of Korea in Indonesia revealed that [...]

S. Korea to Launch Homegrown Solid-fuel Space Rocket by 2024

S. Korea to Launch Homegrown Solid-fuel Space Rocket by 2024

SEOUL, Sept. 16 (Korea Bizwire) — South Korea plans to develop and launch an indigenous solid-propellant space rocket by 2024, officials said Thursday, following the successful combustion test of its engine in July. According to the defense ministry, the state-run Agency for Defense Development successfully conducted the combustion test of a solid-propellant engine for space [...]

S. Korea to Develop New Frigate with Domestic Technologies

S. Korea to Develop New Frigate with Domestic Technologies

SEOUL, Aug. 4 (Korea Bizwire) — South Korea decided to acquire a new frigate with improved anti-aircraft and survival capabilities through domestic research and development, the arms procurement agency said Wednesday. The defense project promotion committee held a videoconference and approved the plan for the 3.5 trillion won (US$3.1 billion) Ulsan-class Batch IV project, according [...]