my timesThe Korea Times
lkm

Lee Kyung-min

Korea Times AI content 2 team Reporter

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

Go to EmailGo to URL

Read more

Companies

Cost of dining out spikes in May ahead of popular holidays

A woman shops for vegetables at a traditional market in Mapo, Seoul. Korea Times fileBy Lee Kyung-minThe prices of dining out and popular food items are showing signs of further sharp hikes, burdening many households in the month of May, when families eat out on the occasion of Children's Day and Parents' Day.Data from Korea Consumer Agency showed the price increases of eight popular food items averaged between 7.5 percent and 16.3 percent last month, compared to a year ago. Among them are pork belly, samgyetang, or chicken noodle soup, jjajangmyeon, or a Korean-style Chinese noodle dish and cold noodles.In more understandable terms, the price of pork belly per 200-gram serving rose to 19,236 won ($14.91), up 12.1 percent from the year before. This sees the average meal tab well in excess of 100,000 won for a family of four dining out, when beverages are included. A bowl of samgyetang came to 16,346 won, up 12.7 percent from a year ago, while that of jjajangmyeon jumped 16.3 percent to 6,800 won.Similarly, data from Korea Institute for Animal Products Quality Evaluation, an agricultu

May 2, 2023By Lee Kyung-min
Cost of dining out spikes in May ahead of popular holidays
Economy

Korea overtaken by Taiwan in per capita GDP due to export slump

gettyimagesbankBy Lee Kyung-minKorea's per capita gross domestic product (GDP) of $32,237 (43.22 million won) in 2022 fell short of Taiwan's $32,811, for the first in 18 years, in what market watchers say was a consequence brought on by a lack of long-term policy assistance to foster semiconductors and broaden manufacturing industries.Propelling Taiwan's outperformance was years of its industrial competitive edge fortified by the Taiwan Semiconductor Manufacturing Company (TSMC), a global logic chip powerhouse based out of the island nation, in line with and ahead of rapidly growing digitization demand from around the globe. Also favorable for Taiwan was the sharper-than-expected depreciation of Korea's currency, an indication of overall weaker fundamentals to withstand external uncertainties, including Russia's invasion of Ukraine and the rapid monetary tightening of the U.S. over the past few months.Observers say Korea's Samsung Electronics, the top competitor of TSMC, will no longer be able to sustain the once-thriving memory chip boom, in a dramatic restructuring of global value

May 1, 2023By Lee Kyung-min
Korea overtaken by Taiwan in per capita GDP due to export slump
Companies

KHNP CEO elected EPRI board member

Korea Hydro & Nuclear Power (KHNP) CEO Whang Joo-ho / Courtesy of KHNP By Lee Kyung-minKorea Hydro & Nuclear Power (KHNP) CEO, Whang Joo-ho, was elected as a member to the board of the Electric Power Research Institute (EPRI), the state-run energy firm said Sunday. He is the only Asian to join the group of 39 EPRI board members.Whang is among four directors elected for a four-year term during an EPRI annual board meeting at Kimpton Tryon Park Hotel in Charlotte, North Carolina, U.S., on April 27 (local time).The remaining three are Justin E. Driscoll, acting president and CEO of New York Power Authority, Thomas J. Kent, president and CEO of Nebraska Public Power District and Jeffrey B. Guldner, president and CEO of Pinnacle West Capital Corporation. Guldner is chairman of the board and CEO of Arizona Public Service Company.The Korean CEO met with EPRI CEO Arshad Mansoor later in the day to discuss cooperation in the fields of small modular reactor (SMR) business, dig

Apr 30, 2023By Lee Kyung-min
KHNP CEO elected EPRI board member
Companies

Trade minister pledges support for AI robotics industry at Boston Dynamics

Minister of Trade, Industry and Energy Lee Chang-yang, center, poses with Boston Dynamics CLO Jason Fiorillo, left, and Boston Dynamics AI Institute Executive Director Marc Raibert at the office of Boston Dynamics in Massachusetts, U.S., April 28 (local time). Courtesy of Hyundai Motor GroupBy Lee Kyung-minMinister of Trade, Industry and Energy Lee Chang-yang visited Boston Dynamics, the future robotics technology hub for Hyundai Motor Group in Massachusetts, U.S., the automobile giant said Sunday.The visit of Korea's top industry policymaker and a group of ministry officials, April 28 (local time), was a major schedule arranged in coordination with President Yoon Suk Yeol's six-day state visit to the U.S.Hyundai said the minister's visit will advance the alliance between Korea and the U.S. beyond military and security matters to encompass high-tech industries, an outlook bolstered further by an annual growth of 13 percent expected every year from $28.2 billion (37.8 trillion won) in 2023 to $83.1 billion in 2030. Hyundai said Lee attended a technical demonstration of Spot, a four-le

Apr 30, 2023By Lee Kyung-min
Trade minister pledges support for AI robotics industry at Boston Dynamics
Companies

Korea's Sustainability Leaders 2023

Statista announces 150 ESG champions after surveying over 1,200 companiesBy Lee Kyung-minA total of 150 companies made the list of Korea's Sustainability Leaders 2023 on the back of their commitment to advancing environmental, social and corporate governance (ESG) practices in line with the global wave of prioritizing long-term sustainability into the future.The list compiled by Statista, an international data and market research expert, The Korea Times and its sister paper the Hankook Ilbo, will function as a key reference for the global business community, policymakers and environmental rights advocacies among many stakeholders to help assess the standing of Korea's top industry players. The companies were selected based on the review of 2021 data on their performance as measured by 31 key indicators as well as analysis on sustainability surveys of more than 3,000 Korean citizens.This year's list is the second, after “Korea's Sustainability Leaders 2022,” whereby 100 ESG sustainability leaders were selected after surveying over 1,250 companies.Partners of Statista's pre

Apr 27, 2023By Lee Kyung-min
Korea's Sustainability Leaders 2023
Companies

Korea, US to nurture young STEM experts

President Yoon Suk Yeol and U.S. President Joe Biden pose before a joint press conference at the White House in Washington, D.C., Wednesday (local time). Korea Times fileBy Lee Kyung-minKorea and the U.S. have launched a joint initiative to nurture 2,023 young experts in the fields of science, technology, engineering and mathematics (STEM), the trade ministry said Thursday.The Ministry of Trade, Industry and Energy said that under the Korea-U.S. Educational Exchange Initiative for Youth in STEM, the two countries will invest $30 million (40 billion won) each for the education and training of young students pursuing professional careers in STEM. This includes semiconductors manufacture, batteries and displays as well as bio, artificial intelligence (AI) and quantum physics. The investment total of $60 million is a commitment of President Yoon Suk Yeol and U.S. President Joe Biden on the occasion of their summit this week in Washington, D.C. It also celebrates the 70th anniversary of the two countries' alliance.The two have agreed to establish the Fulbright STEM Scholars Exchange Progr

Apr 27, 2023By Lee Kyung-min
Korea, US to nurture young STEM experts
  • Summit fails to bear fruitful results for Korean chipmakers: experts
Companies

Korea, US sign 23 MOUs to bolster ties in batteries, bio, nuclear power

President Yoon Suk Yeol delivers a speech at a business forum held to advance bilateral high-tech and clean energy partnerships at Waldorf Astoria Hotel in Washington, D.C. Tuesday (local time). YonhapBy Lee Kyung-minKorea's leading energy, battery, construction and chemical companies have agreed to fortify cooperation with their U.S. counterparts, as outlined in 23 memoranda of understanding (MOUs) signed during a meeting between executives and high-ranking officials of the two countries, the trade ministry said Tuesday.The bolstered commitment came on the occasion of President Yoon Suk Yeol's six-day state visit to the U.S.The Ministry of Trade, Industry and Energy said 45 executives of state-run and private enterprises from both countries attended a business forum to advance bilateral high-tech and clean energy partnerships at the Waldorf Astoria Hotel in Washington, D.C. Tuesday (local time).High-ranking executives of Doosan, Doosan Robotics, SK, HD Korea Shipbuilding & Offshore Engineering, Hyundai Engineering & Construction, Lotte Chemical, Korea Electric Power Corp. (K

Apr 26, 2023By Lee Kyung-min
Korea, US sign 23 MOUs to bolster ties in batteries, bio, nuclear power
  • Doosan, NuScale Power, Eximbank to expand SMR business
  • Korean, US biz leaders agree to enhance cooperation
  • Yoon asks Tesla CEO Musk to invest in Korea
Companies

Doosan, NuScale Power, Eximbank to expand SMR business

Minister of Trade, Industry, and Energy Lee Chang-yang, second from left, poses with Doosan Enerbility Chairman & CEO Park Gee-won, third from left, Eximbank Korea CEO Yoon Hee-sung, right, and NuScale Power CEO John Hopkins after signing a partnership agreement at Waldorf Astoria Hotel in Washington, D.C. Tuesday (local time). Yonhap By Lee Kyung-minDoosan Enerbility, the energy affiliate of Doosan Group, signed a three-way agreement with its U.S. partner NuScale Power and the Export-Import Bank of Korea (Eximbank) to foster cooperation in the small modular reactor (SMR) business, according to the firms and Korea's state-owned lender, Tuesday. The U.S. firm designs and markets SMRs.Their reiterated commitment came on the occasion of President Yoon Suk Yeol's six-day state visit to the U.S.The three signed a memorandum of understanding (MOU) to cooperate in marketing, strengthening of local supply chains and export financing assistance.Also included was technical su

Apr 26, 2023By Lee Kyung-min
Doosan, NuScale Power, Eximbank to expand SMR business
  • Korea, US sign 23 MOUs on stronger ties in batteries, nuclear power, advanced industries
  • Korea, US sign 23 MOUs to bolster ties in batteries, bio, nuclear power
  • Yoon asks Tesla CEO Musk to invest in Korea
Companies

Seoul to prevent Pyongyang from acquiring satellite parts, materials

North Korean leader Kim Jong-un, fourth from left, celebrates the claimed completion of its first-ever military reconnaissance satellite at the North's National Aerospace Development Administration, April 18. Korea Times fileBy Lee Kyung-minThe government has added 77 parts and devices needed for satellite manufacturing to a list of goods banned from being exported to North Korea, in what Seoul hopes will be the first international effort to deter Pyongyang's spy satellite development plans, the trade ministry said Tuesday.Among them are solar panels, gyroscopes, antennae, global positioning systems and image sensors for cameras.The revised list is set to take effect next month and serve as a warning to the international community against selling space launch vehicle parts to the North, hopefully hindering the reclusive regime's missile development program, the ministry said.Prompting the latest move by South Korea is North Korean leader Kim Jong-un's announcement on April 18 of the completed development of the North's first-ever military reconnaissance satellite by the National Aero

Apr 25, 2023By Lee Kyung-min
Seoul to prevent Pyongyang from acquiring satellite parts, materials
Companies

LGES to make Korean plant global tech hub by 2026

LG Energy Solution's manufacturing plant in Ochang, North Chungcheong Province. Courtesy of LG Energy SolutionBy Lee Kyung-minLG Energy Solution (LGES), the battery manufacturing affiliate of LG Group, said it will invest 600 billion won ($448 million) to fortify production capabilities at its Ochang Energy Plant 2, as part of its medium-term growth strategy to elevate the manufacturing facility in North Chungcheong Province to a global technology hub with what it refers to as “mother line production” by 2026, according to market watchers, Tuesday. The term “mother line” refers to when next-generation products are tested and verified for mass production, in addition to pilot production before commercialization.The Ochang plant will become the mother factory of the affiliate's large-capacity manufacturing plants in North America, Europe and Asia, as underpinned by its committed investments into research and development, according to the firm.The fortified mass-production capabilities will help with more effective responses to the varying needs of consumers, due

Apr 25, 2023By Lee Kyung-min
LGES to make Korean plant global tech hub by 2026
previous page
143144145146147
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.