SEOUL, Sept. 2 (Korea Bizwire) — North Korean leader Kim Jong-un has emphasized the importance of quality over speed in the construction of factories and other modern facilities as part of ongoing efforts to develop underdeveloped regions outside of Pyongyang, state media said Monday. The directive was issued during Kim’s “field guidance” to regional-industry factories [...]
SEOUL, Apr. 24 (Korea Bizwire) — The Seoul city government plans to develop floating office and hotel buildings and create water sports facilities on the Han River by 2030, officials said Wednesday, in the city’s latest project to increase the potential of the river running across the city. Mayor Oh Se-hoon announced the plan in [...]
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, [...]
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, 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 [...]
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 [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s finance ministry unveiled a set of measures Thursday to pave the way for the growth of the country’s artificial intelligence chip and urban air mobility (UAM) industries in line with efforts to foster new growth engines. Under the plan, the country will speed up the establishment of [...]
ULSAN, Oct. 20 (Korea Bizwire) — An electric smart ship using a full range of information and communication technologies (ICT) will sail in the southeastern city of Ulsan starting from next year. Ulsan’s city government and the Ulsan ICT Promotion Agency held a groundbreaking ceremony for the ICT-integrated electric smart ship at Hyundai Mipo Dockyard [...]
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 [...]
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 [...]