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Lee Kyung-min

Korea Times AI content 2 team Reporter

Value context and insight. lkm@koreatimes.co.kr

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Korea to begin digital management of roads, infrastructure renovation

Digital twin technology-enabled real-time data of river water levels and quality on display in Jeonju, North Jeolla Province. Korea Times file By Lee Kyung-minRoad maintenance and infrastructure renovation will be digitally managed and mediated by artificial intelligence (AI) and digital twin technologies to improve the accuracy of natural disaster predictability, the land ministry said, Friday. The Ministry of Land, Infrastructure and Transport said it signed a memorandum of understanding (MOU) with Gyeonggi Provincial Government and Gwangju Metropolitan City to establish standardized digital road registers for more effective and integrated statistics-based road maintenance platforms.Anchoring the AI-powered administrative drive is digital twin technology.The term digital twin refers to a virtual representation of a real-world physical system. It can serve as an indistinguishable digital counterpart of real world features for practical purposes such as running s

Jul 14, 2023By Lee Kyung-min
Korea to begin digital management of roads, infrastructure renovation
Companies

Korea Post agrees to improve int'l mail service with Kahala Posts Group

Officials of Korea Post and the Kahala Posts Group pose after a meeting in Paris, France, on Thursday (local time). Courtesy of Korea PostBy Lee Kyung-minKorea Post (KP) agreed to fortify cooperation with the Kahala Posts Group (KPG), to bolster international mail services and joint market expansion, the science ministry-supervised organization said, Thursday.KP acting president Park In-hwan met with 11 CEOs sitting on the KPG, a group of advanced postal operators in the Asia-Pacific region, during a meeting in Paris, France, on Thursday (local time).The group is an international alliance of the postal administrations of Australia, Canada, China, France, Hong Kong, Japan, Korea, Spain, Thailand, the United Kingdom and the United States.It was launched in 2002 by six major postal administrations collaborating to promote customer choice and improve service options for postal express and package services.Their goals include raising service performance of their package services, addressing current and future needs of customers and leveraging collective action and joint capabilities to ex

Jul 14, 2023By Lee Kyung-min
Korea Post agrees to improve int'l mail service with Kahala Posts Group
Companies

Land ministry official's book offers insights into energy management of resources deprived Korea, Japan

Oh Seong-ik By Lee Kyung-minOh Seong-ik, director general at the Ministry of Land Infrastructure, has published a book offering insights into how Korean and Japanese energy policies of past decades have helped elevate the nations as key industrial states, despite few natural resources.The book titled “Overseas Energy Investment of Korea and Japan: How Did Two East Asian Resources-Rare Industrial Giants Respond to Energy Security Challenges,” will be a timely reference for readers seeking an enhanced understanding of the energy security policies of countries seeking to maximize national interests, according to the author.Global energy prices are fluctuating, due to complex and unpredictable geopolitical and financial developments including the war in Ukraine, China's reopening and recovery after years of COVID-19 measures, and Saudi Arabia's sudden announcement of oil cuts.A number of uncertainties leading to volatility in energy prices are quite familiar, in his view

Jul 13, 2023By Lee Kyung-min
Land ministry official's book offers insights into energy management of resources deprived Korea, Japan
Companies

Firms rush to embrace shorter workweek

By Lee Kyung-minMajor business conglomerates in Korea are rushing to embrace a shorter workweek, according to market watchers, Wednesday.The move is in line with the global trend in the U.S. and Europe where countries are seeking to introduce a four-day workweek. Few associate spending longer hours at their office with higher productivity. Some say making employees take a Friday off every month or every other week is to have them finish work before that day comes, and not so much about reducing the sheer workload itself. Samsung Electronics implemented a shorter workweek last month, allowing its 120,000 full-time workers to have a four-day workweek once a month. Employees take every fourth Friday off, coinciding with the issuance of their monthly paychecks. Excluded are production workers on 12-hour shifts, since manufacturing facilities must remain in operation around the clock.The shorter workweek is part of the final terms agreed upon during management-labor talks in April.SK Telecom already implemented a shorter workweek since 2020 and SK hynix has a similar program. Almost

Jul 12, 2023By Lee Kyung-min
Firms rush to embrace shorter workweek
Companies

POSCO International issues 2022 Corporate Citizenship Report

POSCO International's 2022 Corporate Citizenship Report / Courtesy of POSCO InternationalBy Lee Kyung-minPOSCO International published the “2022 Corporate Citizenship Report,” Wednesday.The report outlines the POSCO affiliate's vision for reaching sustainability goals, as well as its environmental, social and corporate governance (ESG) achievements.Also included are ways to fortify its energy business and enhance transparency as well as the reliability of stakeholder-oriented communication.The POSCO affiliate detailed the specifics of its projects in the fields of energy, materials and agri-bio, or agricultural biotechnology. Its energy operation will expand offshore wind power in cooperation with its advanced overseas peer to foster the “future green energy business,” as underpinned by hydrogen and ammonia production.In the materials sector, optimizing its global network for trading steel is cited as key to strengthening supply channels to better secure raw materials. Its green growth initiative will be promoted to advance the steel needed for its wind and so

Jul 12, 2023By Lee Kyung-min
POSCO International issues 2022 Corporate Citizenship Report
Companies

Automobile, battery, ship exports to lead growth in H2: industry ministry

Stacked containers at Busan Port, July 2. YonhapChip exports to rebound in OctoberBy Lee Kyung-minExports of automobiles, rechargeable batteries and ships will lead the growth of Korea's economy, while outbound shipments of semiconductors will rebound in October, the industry ministry said, Tuesday.The production of home appliances, bio-health products and displays is also expected to recover, helping Korea's exports register a surplus in the fourth quarter.In its economic outlook and policy direction reports, the Ministry of Trade, Industry and Energy said sales of eco-friendly cars and sport utility vehicles (SUVs) will increase in the second half of this year, while shipbuilders should be able to win enough orders to generate profits for the next few years.The ministry expects the pace and strength of Korea's export growth to be determined largely by how fast China resumes imports of Korean-made chips.“The country's trade conditions will be able to find a solid footing as early as September, provided that both market conditions for the chip industry and exports to China show

Jul 11, 2023By Lee Kyung-min
Automobile, battery, ship exports to lead growth in H2: industry ministry
Companies

Gov't-certified K-food logo to bolster brand recognition overseas

Students make kimchi at Cesar Ritz Colleges Switzerland, May 24 (local time). Yonhap Gov't-certified K-Food logo / Courtesy of Ministry of Agriculture, Food and Rural Affairs By Lee Kyung-minExporters of Korea-manufactured agricultural goods and produce will be able to use a government-certified logo, enabling the country's strong local industry players to bolster global brand recognition for their healthy products, the food ministry said Tuesday.The Ministry of Agriculture, Food and Rural Affairs said the “K-Food” logo will be put on the packaging of export goods starting July 12.The logo designed by the ministry is trademarked in 27 countries in the European Union, Japan, Taiwan, Hong Kong, United Arab Emirates (UAE), the Philippines, Australia, Russia, Singapore, Mongolia, India, the U.K., Mexico, Saudi Arabia, Laos, Brazil, Uzbekistan and Kazakh

Jul 11, 2023By Lee Kyung-min
Gov't-certified K-food logo to bolster brand recognition overseas
Companies

23,000 KEPCO employees pledge not to engage in solar businesses

Solar panels installed at a farm in Taean, South Chungcheong Province / Korea Times file By Lee Kyung-minAbout 23,000 employees of Korea Electric Power Corp. (KEPCO) have signed a statement pledging not to engage in the solar power business, considered a conflict of interest by the state-run energy firm, Monday. Behind the much-rushed organization-wide mandate is intensifying investigative scrutiny of the Board of Audit and Inspection (BAI) into at least 250 officials of state-run energy firms over suspected use of classified business information to net personal gains under renewable energy projects spearheaded by the previous Moon Jae-in administration.The BAI said on July 3 that state-run energy projects had 7,626 suspected irregularities amounting to 844 billion won ($646 million) between 2018 and 2022. The figure of 844 billion won is about 10 percent of the total allocated project funds of 11.8 trillion won.The state-run projects are funded by the taxpayers. Ev

Jul 10, 2023By Lee Kyung-min
23,000 KEPCO employees pledge not to engage in solar businesses
Companies

Advancing 'K-Ricebelt' initiative

Prime Minister Han Duck-soo, front row sixth from left, poses with Minister of Agriculture, Food and Rural Affairs Chung Hwang-keun, front row seventh from left, and ministers of eight African countries during an event organized to celebrate the launch of the K-Ricebelt initiative at JW Marriott Hotel Seoul, Monday. The Korea-led initiative is part of the official development assistance (ODA) program established to enhance the rice productivity and farming technology on the African continent. Yonhap

Jul 10, 2023By Lee Kyung-min
Advancing 'K-Ricebelt' initiative
Companies

More food firms add bugs to their recipes

Bread containing insect-based ingredients / Korea Times fileBy Lee Kyung-minMajor local food firms are registering edible insects as key product trademarks with the Korean Intellectual Property Office, in a move to utilize the cost-efficient protein source for profit. Insects produce high-quality proteins with less feed and water needed compared to other livestock such as cattle, pigs and chickens.Lotte Wellfood, Shinsegae Food and CJ CheilJedang have registered trademarks for food products using insects as ingredients.The Lotte affiliate's Baro On description says it contains “processed bugs.”It invested 1 billion won ($766,224) last year in Aspire Food Group, a Canadian food insect firm.The two said they will build the world's largest insect protein manufacturing facility, as strengthened by technology partnerships.Lotte R&D Center signed a letter of intent (LOI) with French insect protein startup Ynsect in November 2021 to develop products and advance technologies and research work to develop edible insect proteins.Macarons containing insect-based ingredients / Kor

Jul 10, 2023By Lee Kyung-min
More food firms add bugs to their recipes
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