Cargo to be shipped overseas is piled up at a dock in Pyeongtaek, Gyeonggi, on Tuesday.
Korea said Thursday it plans to invest 42.4 billion won ($35.8 million) through 2023 to develop core technologies for hydrogen-powered trams.
Korea recorded $55.4 billion in monthly exports in July, the highest ever thanks to economies worldwide recovering from the Covid-19 pandemic, the Ministry of Trade, Industry and Energy said Sunday. According to the ministry, exports last month ...
Korea’s dependence on key materials, parts and equipment from Japan has declined significantly in the last two years, especially when it comes to materials essential to the manufacturing of semiconductors and display panels.
Participants in the opening ceremony of an alliance on future cars and semiconductors between the Ministry of Trade, Industry and Energy and companies listen to a speech by Kang Kyung-sung.
Within a week of President Moon Jae-in’s first summit with North Korean leader Kim Jong-un in 2018, the government drafted plans to offer energy assistance to the North including the possibility of building it a nuclear plant.
A total of 21 companies have decided to close plants overseas and reopen them in Korea, a process known as reshoring. That exceeds the 16 companies that reshored full-year 2019.
Prosecutors raided the Energy Ministry and Korea Hydro and Nuclear Power (KHNP) to see whether they falsified data to justify the early closing of the country’s second-oldest nuclear reactor.
While exports in July fell, they only declined in the single-digit range, breaking a long streak of double-digit drops.Exports last month fell 7 percent to $42.8 billion. Exports to the U.S. were particularly strong last month, up 7.7 percent.
The government plans to spend 325.8 billion won ($263 million) to establish international standards for key Korean technologies, including 5G, intelligent transport systems and system semiconductors.