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Wed, October 4, 2023 | 19:19
'It's inevitable to raise electricity prices to reduce KEPCO's debt,' says CEO
The new head of the state-run utility company said Wednesday that a rate hike this year is inevitable as a necessary means to help resolve the state firm's debt, which has grown to 201 trillion won ($147 billion).
FDI pledges to Korea reach record-high of $24 billion through Q3
Korea has recorded its highest-ever foreign investment commitments during the first three quarters this year, with key contributions coming from sectors of service and manufacturing, government data showed Wednesday.
NCSOFT seeks global user base for upcoming games
Korean online game developer NCSOFT is ramping up marketing to global users as the company has expanded its consumer targets from Asia to North America and Europe with its new key games set for release next year.
Korea-Qatar LNG alliance strengthens with bilateral summit
The recent diplomatic summit between energy ministers from Korea and Qatar has established the basis for a bilateral energy alliance that can develop further through trading natural energy resources and transport tankers.
Hyundai E&C to build upmarket apartment complex in Seoul's Gwanak District
Hyundai E&C has started selling its new premium apartments in southern Seoul, anticipating it to be a landmark in the region, bustling with new apartment town projects and a subway network.
LS Electric partners with CNCITY Energy to spur decentralized power distribution
Korea's major power distribution technology developer LS Electric has agreed with CNCITY Energy to jointly spur decentralized power distribution in the country by introducing a local-based power distribution system.
Kakao's new data center complete
Kakao CEO Hong Eun-taek speaks during a ceremony to mark the completion of the company's first self-designed data center at Hanyang University's Erica Campus in Ansan, Gyeonggi Province, Tuesday. Set to begin operation in the first quarter of 2024, the new facility by Korea's IT giant is capable of running over 100,000 servers simultaneously and storing up to 120,000 servers...
Koreans adapt to soaring food prices
Kim Young-mi, a 40-year-old housewife in Seoul, picks up a carrot from the vegetable aisle inside a local supermarket. Unlike 'usual' carrots that are long and smooth on the surface, this particular carrot is rather irregular and oddly shaped. She looks at the price of a bundle of similarly 'ugly' carrots that are packed inside a plastic bag and finds that they are almost 30...
Industry minister meets SME leaders
Minister of Trade, Industry and Energy Bang Moon-kyu, fourth from right, poses with the Korea Federation of Small and Medium Business (KBIZ) Chairman Kim Ki-Mun, fourth from left, and other KBIZ members at KBIZ headquarters in Yeouido, Seoul, Monday. KBIZ is the country's first economic association that the minister has met in person since his appointment last week. The minis...
Homeplus' private brand products hit store shelves in Mongolia
Korean major retailer Homeplus' private brand products are gaining attention from Mongolian consumers after the firm's distribution network expanded to the country earlier this month, according to the firm.
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