The country’s first compound for testing and producing parts and technologies for renewable energy sources was completed on Thursday.Work on the complex in Buan County, North Jeolla Province, began in 2004, and cost 100 billion won ($88 million), the Ministry of Knowledge Economy said.The compound is divided into a research and testing complex, industrial complex and a complex for experiencing and learning about related technologies. According to the ministry, three state-run research organizati

The government on Thursday mapped out a set of measures to ensure stable electricity supply for this winter including mandatory usage cuts for large firms and maximum temperature limits for commercial buildings.The package is aimed at coping with demand spikes during the winter months and averting the recurrence of nationwide blackouts that battered Korea in mid-September amid an unseasonable heat wave. Knowledge Economy Vice Minister Kim Jung-gwan said his agency will be struggling to maintain

U.S. sales of vehicles made by Hyundai Motor Co. and its affiliate Kia Motors Corp. are expected to surpass the 1 million mark for the first time this year, fueled by a surge in consumer demand, the carmakers said Thursday.The two companies, part of the world’s fifth-largest automaker Hyundai Motor Group, said their combined sales in the U.S. market jumped 26 percent on-year to 950,411 units in the first 10 months of this year.Hyundai, South Korea’s largest carmaker, said it sold 545,316 cars in

Several banks hope to tap Financial Market Stabilization FundA number of savings banks are seeking state help in securing additional capital, sources said Thursday.“Some of the savings banks have shown interest in receiving support through the Financial Market Stabilization Fund,” an unnamed official with the Financial Services Commission was quoted as saying by a local news agency.According to industry sources, three or four savings banks are seeking state funds.“It is expected that application

BUSAN ― As the country’s largest game trade show G-Star launched on Thursday, it showcased games designed exclusively for smartphones, the most attention-grabbing trend for this year.Mobile game firm Com2us, which set up its booths at G-Star for the first time, featured up to 15 new mobile games, including “Tiny Farm,” “Escape the Ape,” “Puzzle Family” and “MiniGame Paradise.”“The competitiveness and graphic quality of mobile games are now meeting users’ expectations,” said a Com2us official.Wem

North Korea’s flag carrier has canceled an air route to Kuwait, Airline Route blog says, in what could be Pyongyang’s latest attempt to prevent the news of popular uprisings in the Arab world from reaching the isolated country.The move came less than six months after Air Koryo started a weekly direct flight service between Pyongyang and Kuwait City, Airline Route said Monday on its Web site, citing the carrier’s planned winter operation.In late May, Air Koryo announced the service on its Faceboo

The top U.S. military intelligence official has been in Seoul for annual consultations with his South Korean counterpart and other officials on North Korea, a Defense Ministry official said Thursday.Lt. Gen. Ronald L. Burgess, Jr., director of the Defense Intelligence Agency, visited the Defense Intelligence Command where he received a briefing on the situation in North Korea on Wednesday, the ministry official said.He also met with the commander of the Defense Security Command and the top Defen

WASHINGTON (Yonhap News) -- When U.S. President Barack Obama holds bilateral summits with his Russian, Chinese and Japanese counterparts in Hawaii later this week, North Korea will be high on agenda, White House officials said Wednesday.Obama is scheduled to meet Russian President Dmitry Medvedev, Chinese President Hu Jintao and Japanese Prime Minister Yoshihiko Noda on Saturday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit.“We‘ll, of course, address with the Russians a

The Foreign Ministry on Wednesday dismissed Japan’s recent request to cancel a scheduled concert on South Korea’s easternmost islets of Dokdo, saying it was “needless” to even consider the request.The Japanese request came as a group of South Korean lawmakers are planning to stage a concert Friday on Dokdo, a source of frequent tension between Seoul and Tokyo as the latter continues to lay claim to the islets.“It’s true a complaint has been filed by Japan over the planned concert on Dokdo,” a fo

Main opposition Democratic Party leader Sohn Hak-kyu and the Roh Moo-hyun Foundation chairman Moon Jae-in reached consensus on creating an integrated liberal party on Wednesday.They agreed to hold a national convention to consolidate liberal parties and select a new leader, but the idea was slammed by DP lawmakers who had their eye on the party’s leadership.In the Wednesday meeting, Sohn suggested a consolidated national convention be held on Dec. 17 to embrace the entire liberal bloc.The date i

President Lee Myung-bak will travel to Hawaii this weekend to discuss ways to spur the global economy, create jobs and reform regulations with other leaders of major Pacific Rim economies, the presidential office announced Thursday,The summit of the 21-member Asia-Pacific Economic Cooperation forum, set for Sunday, comes as the world economy struggles to stave off the negative impact of the eurozone debt crisis that has battered Greece and shows signs of spreading.Lee, who will leave for Hawaii