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Sun, October 22, 2017 | 13:25

Economy > Policies >

Moon's anti-nuclear drive suffers 'temporary setback'

President Moon Jae-in is expected to lose momentum for his drive to phase out nuclear energy - at least for a while - following a state commission’s decision to renew the construction of two nuclear reactors. Analysts, however, say the direction has not changed and the country will move toward renewable energy in the long term.

Policies | 2017-10-20 17:11

Shin-Kori reactor construction gets go-ahead

Korea needs 'single market strategy' in ASEAN

SINGAPORE - Korean companies should develop a “single market strategy” in the ASEAN market as the Southeast Asian bloc’s latest accord to enhance transport cooperation is expected to speed up integration of the region, according to ASEAN experts. They said Korean players should act swiftly because once ASEAN becomes more integrated, they will need new production models and ma...

Policies | 2017-10-20 13:36

Cheong Wa Dae 'respects' outcome of debate on nuclear reactors

"(Cheong Wa Dae) respects the will of the public debate commission that made its recommendation after three months of deliberation," Cheong Wa Dae spokesman Park Soo-hyun told a press briefing. "The government will do its utmost to implement follow-up measures without any disruption, based on the recommendation."

Policies | 2017-10-20 11:39

Moon's anti-nuclear energy drive faces major setback

South Korea is set to resume work on two nuclear reactors on the southeastern coast after a three-month hiatus as a state commission gave the green light to complete construction Friday, which is expected to affect the government's nuclear phase-out plan.

Policies | 2017-10-20 11:36

Jury votes to resume construction of Shin-Kori reactors

A jury of 471 citizens has voted for the resumption of construction on the Shin-Kori 5 and 6 reactors, ending months of debate over whether to scrap or continue work on the reactors being built near the southeastern city of Ulsan. Of the jury, 59.5 percent voted for the resumption while 40.5 percent supported the suspension, Kim Ji-young, chief of a state commission handling ...

Policies | 2017-10-20 10:18

Global electric power experts to gather in Gwangju

CEOs and CTOs of the world’s leading electric power companies will gather in Korea next month to discuss the future of the industry amid digital utility and technology innovation. The Korea Electric Power Corp. (KEPCO), the state-run power company, said that it is holding a CTO Forum at the Bitgaram International Exposition of Electric Power Technology (BIXPO), which is scheduled in Gwangju, South Jeolla Province, from Nov. 1 to 3.

Policies | 2017-10-19 16:50

Land ministry seeks Korea-Turkey cooperation

The country’s land ministry discussed strategic cooperation with its Turkish counterpart, seeking new opportunities in overseas infrastructure markets. The Ministry of Land, Infrastructure and Transport hosted the Korea-Turkey Business Networking Forum on Oct. 18 in Istanbul, Turkey, discussing cooperation models between governments, state-owned enterprises and private firms of the two countries.

Policies | 2017-10-19 16:07

BOK hints at monetary tightening

Bank of Korea Governor Lee Ju-yeol said conditions are ripe for the central bank to end its monetary easing stance, sending a signal that it could start raising its key rate in the near future. “Conditions are getting ripe for the central bank to reduce the extent of monetary easing,” Lee said, emerging from the bank’s rate-setting Monetary Policy Board meeting, Thursday. At ...

Policies | 2017-10-19 13:59

Moon's economic aides come from Park's hometown

The Moon Jae-in administration is filling its economic team with policymakers born in Daegu and the surrounding North Gyeongsang Province, contrary to initial expectations the administration may leave officials from the southeast area of Korea out of Cheong Wa Dae. Daegu and North Gyeongsang Province are known as Korea’s most conservative region. They include the hometowns of...

Policies | 2017-10-19 10:07

Korea may import seafood from Fukushima

The World Trade Organization (WTO) has ruled in favor of Japan in a dispute over Korea’s import ban on marine products from Fukushima and its surrounding area, according to Minister of Food and Drug Safety Ryu Young-jin. He made the remarks during a National Assembly audit of the ministry. “We have just been informed of the WTO’s decision,” the minister said. “I cannot disclose the result due to the confidentiality obligation, but it is not in favor of Korea.”

Policies | 2017-10-18 18:03

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Lunch with Navy sailors