Korea Hydro & Nuclear Power Co. said it has been stepping up its efforts to boost safety and energy security as the operator of the country’s 23 nuclear power plants. The state-run utility hosted the two-day Nuclear Industry Summit in Seoul on Friday, setting the stage for leaders from across the globe to share their experience and knowledge in enhancing the safety of atomic power ahead of the Nuclear Security Summit on March 26-27. After being spun off from Korea Electric Power Corp. in 2001, t

Robert Bosch GmbH, the world’s biggest car-parts supplier, is in discussions with joint venture partner Samsung SDI Co. about producing more electric car batteries independently of each other.Bosch has been discussing greater autonomy from its partner in the SB Limotive joint venture for at least a month as it seeks to react more quickly to customers’ demands, Udo Ruegheimer, a spokesman for the Stuttgart, Germany-based company said by telephone.“All customer contracts are decided jointly, so it

Hyundai Mipo Dockyard Co., a Korean shipbuilder, on Monday set a milestone in vessel construction with the delivery of its 600th product in just 14 years.The affiliate of Hyundai Heavy Industries Co., the world’s largest shipyard, said it handed over a container vessel with a capacity of 1,000 twenty-foot equivalent units to CK Line Co., a Seoul-based shipping line. The accomplishment came only 14 years after Hyundai Mipo tapped the market in 1997 with a focus on mid-size product carriers, the c

Opposition leader vows to curb use of atomic power, experts warn of political motivationIn an increasingly volatile race for parliament, nuclear power is creeping up the political agenda as opposition lawmakers seek to exploit growing safety jitters to retake power in next month’s vote.Concerns about the safety of the nuclear industry are rife after news broke last week that plant operators had attempted to cover up a power cut at a reactor in Busan for over a month.Though it caused no damage or

The government came under pressure as a soaring number of Koreans are casting doubt on atomic energy after plant operators were found to have attempted to conceal power loss at a nuclear reactor in Busan. Despite no damage or radiation leakage, the accident infuriated the public and anti-nuclear protesters. They raised questions over the public workers’ integrity and whether they are prepared for a longer outage that could result in a disaster like that seen in Japan.The 12-minute blackout occur

KITA chairman forecasts herald interview 7-8 percent growth for Korea’s trade volumeThis is the second of a series of interviews of top officials on FTAs in light of the Korea-U.S. FTA taking effect. ― Ed.Despite persistent signs of fragility clouding the world economy, free trade pacts will lend a fresh impetus to Korea and its counterparts, said Han Duck-soo, chairman of the Korea International Trade Association.With the Korea-U.S. FTA taking effect Thursday, Han predicts that trade volume for

Economic growth in Korea continued to wane through 2011. But although the region’s manufacturing activity and private spending and investment weakened, the Asia-Pacific office market ended 2011 with a solid upturn in leasing activity. Rent growth was sustained in most markets and strengthening demand fueled flat to declining vacancies. “Office Space Across the World,” one of Cushman & Wakefield’s longest-running annual global publications, examines total occupancy costs for prime space in 68 cou

Recent TV coverage of youngsters singing and dancing along with K-pop idol groups during their recent performances in France has left a deep impression on many Koreans. The Korean Wave is not limited to K-pop; it has also been brought about by Korean dramas. Yet there is another area about to create an additional wave, which is Korean cadastre, a comprehensive record of real estate based.Haitian officials ― Leslie Jean Saint Louis, vice president of the Office of National Cadastre of Haiti; Nico

Intangible cultural heritage heir looks to international marketsSoju has long been a favorite drink of Koreans across all spectrums of society. Its crisp, bittersweet flavor and relatively low price often tempt all from the rank and file to CEOs and presidents in times of economic crisis and personal struggle. Moonbaesool Brewery Co.’s hand-made soju is one of the oldest distilled liquors here, dating back over 150 years. The traditional drink, which was first made using water from Daedong River

More Koreans demand tax cut, while policymakers see little benefit Sky-high oil prices are reigniting debate over a fuel tax break, pushing policymakers toward a tricky decision in a crucial election year.With petrol prices across the country setting new records by the day, low-income earners and professional drivers are increasingly blaming their hardships on taxes, which account for more than half of what they pay at the pump.The government, however, appears to be walking a tightrope between t

The Fair Trade Commission has launched an investigation into the country’s seven top-rated hotels in Seoul on suspicion of colluding to rig the prices of their wedding packages and rooms, according to industry sources and reports Thursday.The seven hotels are Lotte Hotel Seoul, Lotte Hotel World, The Shilla Seoul, The Westin Chosun Seoul, Sheraton Grande Walkerhill, W Seoul-Walkerhill and The Plaza Hotel Seoul.“FTC investigators requested yesterday documents related to our wedding business,” an

Hanwha Group said Wednesday it has appointed new chief executives of its five affiliates as part of its sweeping reshuffle aimed at reinforcing its charge into sunrise industries. The Korean conglomerate said it also promoted 102 employees to executive positions, up from 90 last year.The new commanders-in-chief are Shim Kyung-seop at the group’s industrial powder unit, Park Se-hoon at Hanwha Galleria, Han Woo-je at Hanwha Venture Capital, Lee Yul-guk at Hanwha 63 City and Kwon Hyuk-woong at Yeos

British American Tobacco Korea plans to lower the prices of its Vogue cigarettes less than a year after a controversial markup that triggered a plunge in sales and a customer migration to rivals.The local unit of the multinational tobacco giant said Wednesday it would bring the prices of Vogue back to 2,500 won ($2.20) per pack, down from 2,700 won, starting Monday.The pullback is aimed at better competing with other ultraslim cigarettes, the company said, chiefly KT&G Corp.’s Esse, which has lo

Retail prices of gasoline in Korea hit a fresh monthly record in February on the back of escalated tensions surrounding Iran and upbeat economic figures from the U.S. and China, data showed Tuesday.According to the state-run Korean National Oil Corp., the average price of regular gasoline was 1,986.54 won ($1.77) per liter last month, up 5.52 won from the previous high logged in November. That is also 31.46 won higher than in January. Oil prices have been skyrocketing over the last year as persi

Doosan Infracore Co. said it broke ground on Tuesday for its first research and development center in China, spurring its foray into one of the world’s fastest growing construction equipment markets. The laboratory, which will sit on an 8,000-square-meter site in Yantai, eastern China, will be devoted to developing wheel loaders, the Korean engineering firm said. Construction will be completed by the end of the year.The Seoul-based company said it will spend 11 billion won ($9.8 million) to inst

KT&G Corp., Korea’s largest tobacco producer, said it plans to release a repackaged version of its The One Impact cigarettes starting Monday. The renewed One Impact, the latest in its six-variety range, comes in sky blue packaging and gives a rich flavor despite lower levels of tar, the Seoul-based manufacturer said. Introduced in March 2011, the product contains 1 milligram of tar and 0.1 milligram of nicotine. It costs 2,500 won ($2.2) per pack. (heeshin@heraldm.com)

Chief of Korea unit forecasts up to 6% growth for 2012While spiraling oil prices, falling rates and the oversupply of ships cast a blight over many shipping companies at home and abroad, Maersk Korea Ltd. appears rather bullish. A growing thirst for Korean products around the world, coupled with a global e-commerce boom, is helping keep the world’s largest shipping line afloat amid the industry’s biggest crisis in years. Yet, this drift will only continue in the coming years, the chief of the Da

Korean stocks advanced 0.22 percent Friday, tracking a rally in overseas markets, as investor sentiment was boosted by a second round of cash injections from the European Central Bank and improved U.S. economic data. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index advanced 4.37 points to end at 2,034.62. Trading volume was moderate at 476 million shares worth 5.76 trillion won ($5.16 billion) with gainers leading losers 497 to 316.The Dow Jones ind

Apple Inc. and Samsung Electronics Co. both lost patent cases against each other in a court in Germany on Friday in the latest twist in the long-running battle between the two electronics powerhouses over mobile phones and tablet computers.The Mannheim Regional Court turned down Samsung’s attempt to defend its mathematical coding procedures in processors. It also rejected Apple’s claim over features for unlocking touch screens.  Delivering the verdict, Presiding Judge Andreas Voss said neither c

SK Group’s exports hit an all-time high between January and February, prompted by robust sales from its new affiliate Hynix Semiconductor, the Korean industrial group said Friday.The group said its seven affiliates together registered 10.6 trillion won ($9.5 billion) in exports in the first two months of this year, up nearly 36 percent from a year ago.Exports accounted for more than 71 percent of their combined sales, which came in at 14.9 trillion won during the two-month period, the group note