Suga seen to continue hard-line stance on Korea, but could face pressure to change tone in trade

Dependence on coal is expected to decrease by an average of 0.7 percent per year, a report by the Korea Energy Economics Institute said Wednesday. By 2024, the consumption proportion of coal is forecast to drop below 25 percent, it said. While demand for industrial coal in making steel will increase somewhat post-COVID19 as the world economy turns to recovery, demand from other sectors such as in cement manufacturing is expected to continue to decrease, the report said. Coal-fired electrici

Hitejinro Beverage CEO Jo Un-ho vows to reduce environmental damage

The Korea International Trade Association said Wednesday it has partnered with Startup Junkie, a US-based venture catalyst and entrepreneurial support organization, to help Korean startups test their technologies and products overseas. According to KITA, it signed a memorandum of understanding Friday with Gangnam-gu Office, Korea Venture Business Association and Startup Junkie that will allow consumer goods companies in the US to test and verify technologies and products of Korean startups.

Korea Chamber of Commerce and Industry Chairman Park Yong-maan said Wednesday that the organization has managed to receive a greenlight from the government to test artificial intelligence-based drones in the skies above Busan and Daegu. The chairman on Wednesday uploaded a video to his Facebook account, explaining that the KCCI has won a regulatory sandbox approval for AI drones to inspect the safety of bridges and tall buildings in the two cities after a three-month long negotiation between

Calls for separate regulations for heated cigarettes citing FDA’s recognition of ‘modified exposure’

GC Pharma’s Hunter syndrome treatment Hunterase has been approved by the Chinese drug authority, the company said Wednesday. Hunterase is indicated for long-term treatment for Hunter syndrome, and is the first of its kind to be officially approved for use by China’s National Medical Products Administration. CANBridge Pharmaceuticals is responsible for the distribution of Hunterase in China, and is expected to gradually widen the scope to Taiwan, Hong Kong and adjacent regions. Hu

As a Galaxy Z Flip user, the technological improvement of the Galaxy Z Fold2 looks to be short of jaw-dropping. But the 7.6-inch main screen, supported by the highly touted Hideaway Hinge and flexible ultrathin glass technologies, definitely felt different. When unfolded, the Galaxy Z Fold2 worked more like a tablet PC than a smartphone. It seemed to have come a long way since the first Galaxy Fold, since the Fold2 is almost bezel-less. With no interruption from a notch, except for a tiny

The initial volume of the Galaxy Z Fold2, the third foldable device by Samsung Electronics, is estimated to grow at least threefold from its predecessor, owing to positive market reaction, according to telecom industry sources Wednesday. Around 10,000 units of the Galaxy Z Fold2 will be allotted for the three mobile carriers in South Korea and independent stores, the sources say. Compared to the first Galaxy Fold edition, that marks three times the volume. “Samsung’s productio

FTC chief says will scrutinize whether US tech giant prevents emergence of new OS, app players

Han Sung Motor, an official dealer of Mercedes-Benz Korea, said Wednesday that it has completed work on a mural near its Seongnam exhibition hall. The automotive dealer said it had painted an old wall measuring about 50 meters wide and created the mural to improve the regional environment. The mural was painted under the voluntary initiative of Han Sung Motor’s Seongnam unit to re-create the alley as a street where people want to walk and a “street of youth,” according to

With the prolonged COVID-19 pandemic, an increasing number of commercial facilities such as restaurants and PC rooms have shut down in Seoul, a survey by the Agency for Traditional Market Administration shared by Real Estate 114 showed. As of the second quarter of this year, the number in commercial districts dropped by 5.4 percent to 370,321 from 391,499 in the first quarter. By type of business, restaurants shut down the most, followed by retailers such as convenience stores and supermarket

Korean Air Lines Co. said Wednesday it has begun to use two converted planes to transport cargo on routes to the United States in the latest move to offset a sharp decline in air travel demand amid the coronavirus pandemic. The biggest carrier in South Korea has recently converted two B777-300ER jets into cargo planes after obtaining approval from the transport ministry. "One of the two converted aircraft flew to the Rickenbacker International Airport in Ohio on Tuesday, and the other is

　Retail sales in South Korea advanced 4.4 percent in July from a year earlier as online platforms enjoyed a spike in demand for groceries and home appliances amid the new coronavirus pandemic. 　The combined sales of 26 major offline and online retailers reached 11.46 trillion won ($9.67 billion) last month, up from 10.98 trillion won a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy. 　Online platforms led the growth, with their revenue advancing 13.4

The Ministry of Science and ICT on Tuesday provided advance notice of its ordinances under the revised Telecommunications Business Act, which includes clauses that will bind foreign platform operators like Netflix and YouTube to share costs in securing stable services. The revision, dubbed the ”Netflix law,“ passed the National Assembly in May after local network operators raised complaints over foreign platform operators being exempt from costs for operating, expanding and using