SEJONG -- The government has mapped out a measure to address the mounting deficit of the state-run Korea Electric Power Corp., which posted an all-time high operating loss of 7.7 trillion won ($6.1 billion) in the first quarter of the year. The Ministry of Trade, Industry and Energy said Tuesday that it would place a cap on the “system marginal price,” the price KEPCO pays when purchasing power ...

New Asia Pacific Business Excellence Center will provide shared functions and corporate services to further support the company's growth in the Region The Business Excellence Center is expected to be fully operational in the third quarter of 2022 PETALING JAYA, Malaysia , May 24, 2022 /PRNewswire/ -- Barry Callebaut, the world's leading manufacturer of high-quality chocolate and cocoa produc...

Seoul shares ended lower on Tuesday as investors remain concerned about inflation despite US President Joe Biden's remark that US tariffs imposed on Chinese imports are being reviewed for reduction. The South Korean won fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) fell 41.51 points, or 1.57 percent, to 2,605.87. Trading volume was moderate at 837.87 million shares wo...

Toward the end of the interview, Lee also talked about the movie’s successful start, selling more than 3.55 million tickets in the first week of its release, according to the Korean Film Council. “I am so grateful (viewers) are enjoying the movie,” he said enthusiastically. “It also encourages me to work harder on the third movie of the series, whichI am working on right now.” “The Roundup” is ...

The Cultural Heritage Administration and the Korea Cultural Heritage Foundation are jointly hosting “Invitation to Gyeongbokgung’s Kitchen” at the Sojubang complex of Gyeongbokgung from June 8-20. Visitors can choose between the Saenggwabang and Sikdorak programs. The Saenggwabang program includes a live performance of gugak, Korean traditional music, playing in the background during the meal. ...

FHM 2022 provided a welcome resumption of face-to-face business networking during its first post-COVID-19 physical event KUALA LUMPUR, Malaysia , May 24, 2022 /PRNewswire/ -- The 16 th edition of Food and Hotel Malaysia (FHM) concluded its highly anticipated return after two years with a successful four-day run at the Kuala Lumpur Convention Centre from 29 March to 1 April 2022 . The pr...

For the next three years, South Korean tech giant Kakao and SK Square, the ICT arm of conglomerate SK Group, will be banned from expanding their designated driver service business to make room for small and midsized enterprises entering the market, the Korea Commission for Corporate Partnership said Tuesday. Other large corporations seeking to start chauffeur services are prohibited from enterin...

President Yoon Suk-yeol said it is necessary for Korea’s future energy sources to be a “rational” mix of nuclear power, renewable energy and natural gas to achieve carbon neutrality amid global supply chain instability and rising energy prices. Yoon attended the 28th World Gas Conference held at Exco in Daegu on Tuesday, his first public attendance at an international event since taking office. ...

The Korea Herald CEO Choi Jin-young (left) paid a courtesy visit to Chinese Ambassador to Korea Xing Hai-ming and discussed emerging areas of cooperation Friday. Choi and Xing expressed hope to strengthen and diversify industries and media cooperation between China and Korea. (The Korea Herald)

South Korea’s largest conglomerate Samsung announced Tuesday plans to invest a combined 450 trillion won ($355.8 billion) and create some 1 million jobs in Korea over the course of five years -- the largest ever in the group’s history -- in order to maintain its competitive edge and navigate uncertainties. Samsung also chose chip design, foundry and biotechnology as the major three pillars of it...

With Google poised to begin removing applications that disobey its mandatory in-app payment policy from June 2, South Korean content providers are raising consumer charges as the global IT giant's billing rules require hefty fee rates. Google's in-app payment system means that consumers must use the internal payment system developed by the app market operator, also Google, when purchasing paid c...

Hyundai Motor Group and Microsoft Korea have collaborated to make a “digital twin” of the Ioniq 5 to accurately analyze performance of the battery that is critical for electric vehicles. According to the automaker, the digital twin works by making an identical product of a device on a virtual platform so it can experiment with artificial intelligence, machine learning and data analysis models by...

Which history gets priority? The definitions of “state-designated historic site” and “registered cultural heritage” are broad. Based on precedents, state-designated historic sites are usually those that were built and formed more than 100 years ago, while registered cultural heritage sites apply to those that were built and formed around 50 years ago. The former has much stricter preservation re...

Prime Minister Han Duck-soo on Tuesday met with Rep. Yun Ho-jung, a co-chair of the Democratic Party of Korea’s interim leadership committee, in a gesture seeking cooperation from the country’s main opposition party. On Tuesday, Prime Minister Han visited Yun first before he met with leaders of the ruling People Power Party. This move showed his enthusiasm to cooperate with the opposition party,...

South Korea’s Defense Ministry committed to seeking ways to step up support for Ukraine at the US-led defense dialogue while taking a cautious stance over providing lethal weapons to the war-torn country. Vice Defense Minister Shin Beom-chul on Monday attended a second virtual meeting of the Ukraine Defense Contact Group hosted by US Secretary of Defense Lloyd Austin, South Korea’s Ministry of N...