Korea introduced the world’s largest tidal power plant on Monday, eight years after it broke ground for a project aimed at boosting renewable energy use. The facilities in Sihwa on the western outskirts of Seoul will enter full-fledged operation in December with a total capacity of 520 megawatts, the Ministry of Land, Transport and Maritime Affairs said. Annual output will reach 552 million kilo...

Samsung Life and Samsung Fire & Marine hold the largest payment reserves among local life and non-life insurance companies, according to the Financial Supervisory Service. FSS data showed that Samsung Life holds 99.1 trillion won ($91.7 billion) in provisions for insurance payments to customers, topping the list among Korea’s life insurers. The amount held by the Samsung Group’s financial unit ...

TAIPEI (AP) -- Typhoon Nanmadol headed to southeastern China on Monday after dumping more than half a meter of rain in southern Taiwan, where wide swaths of agricultural land were flooded and some 8,000 people evacuated. The storm skirted Taiwan’s southwestern quadrant, remaining over the island for only a few hours. Its intensity had already diminished after pummeling the Philippines, where at ...