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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.

KEPCO in talks with Vietnam, Saudi Arabia, Turkey for potential power plant deals

The state-run Korea Electric Power Corp. (KEPCO) has been in talks with Vietnam, Saudi Arabia, Turkey and other countries over potential nuclear power plant deals, the company said Thursday. KEPCO said a number of countries, including the three, are interested in South Korea's experience and capabilities proven by successfully constructing the Barakah nuclear power plant in the United Arab Emirates (UAE), vowing to work to win more export deals. South Korea won a 20 trillion-won ($14.5 billion) contract to build the Barakah plant in 2009, which marked the country's first-ever overseas nuclear power plant project. KEPCO completed the project last year, delivering four nuclear reactors to the UAE, which all entered commercial operation. Seoul also secured an estimated 26 trillion won project to build two nuclear power units at the Dukovany nuclear power plant in the Czech Republic last month, though the formal signing of the deal has been delayed due to the Czech court's injunction order temporarily halting the deal. "The UAE power plant construction project strengthened the overall sustain

May 29, 2025By Yonhap
KEPCO in talks with Vietnam, Saudi Arabia, Turkey for potential power plant deals

GM Korea to sell non-core assets, service centers amid sluggish sales

GM Korea, the South Korean unit of General Motors Co., said Wednesday it will dispose of non-core assets and directly managed service centers as part of its efforts to sustain operations amid weak demand for its vehicles. In response to a rapidly evolving industry landscape and global business challenges, the company said in a press release that it will begin consultations with relevant stakeholders to secure financial sustainability in the Korean market. GM Korea plans to gradually sell all nine of its directly operated after-sales service (AS) centers. However, all employees at these centers will be reassigned to other divisions within the company, it said. "Unlocking value from surplus assets and eliminating loss-making service operations are critical to supporting ongoing sustainability," GM Korea Chief Executive Officer (CEO) Hector Villarreal said. The company also plans to sell idle properties and facilities within its main Bupyeong plant, located just west of Seoul. It emphasized that the planned asset sales will not affect production at the facility. "Our current vehicle programs

May 28, 2025By Yonhap
GM Korea to sell non-core assets, service centers amid sluggish sales

SK Innovation replaces top management

SK Innovation has appointed SK Innovation E&S President Choo Hyeong-wook as its new CEO and SK Inc. CEO Jang Yong-ho as executive president, who will also represent the company. The intermediate holding company for SK Group's energy and chemical businesses said Wednesday that its board of directors approved the appointments that day. Both Choo and Jang are board members. Choo, who became CEO of SK E&S in 2021, has led the energy firm's growth in four key areas: low-carbon liquefied natural gas, renewable energy, energy solutions and hydrogen. Since SK Innovation's merger with SK E&S last November, he has focused on generating synergies as the head of the newly integrated company's independent in-house entity. Jang is recognized as a strategist who helped SK Group expand its semiconductor and chipmaking materials businesses. In 2015, while leading SK Inc.'s portfolio management, he oversaw the acquisition of SK Materials, a specialty gas supplier for chipmakers, and SK Siltron, a semiconductor wafer producer, and under his tenure has enhanced their corporate value. SK Innovation said Jang w

May 28, 2025By Park Jae-hyuk
SK Innovation replaces top management

BMW Korea strengthens EV leadership for future mobility

BMW Korea continues to cement its leadership in electric vehicles (EVs), maintaining a top spot in sales for premium imported EVs here for the first four months combined, the carmaker said Tuesday. The local subsidiary of the German automaker sold a total of 1,880 EVs during the same period, the highest among luxury EV makers, extending its winning streak of last year when it reported robust EV sales of 6,353. This proves BMW’s unwavering determination for electrification in the period of a major auto paradigm shift. The carmaker preserved its core driving identity for its EVs while at the same time introducing new technologies to differentiate its premium electric identity. Commemorating its 30th anniversary last month, it started the nation’s first EV test drive membership program — BMW BEV Membership. Under the initiative, the carmaker will use 230 BMW EVs designed to let customers experience the brand’s slogan of “Driving Pleasure.” Starting in May, customers who purchase a new BMW vehicle can participate in the program. The carmaker offers test drives for its four major E

May 28, 2025By Lee Min-hyung
BMW Korea strengthens EV leadership for future mobility

Huawei taps universities to train talent outside traditional classrooms

SHENZHEN, DONGGUAN, China — Chinese information and communications technology (ICT) giant Huawei is tapping universities in China to train talent and increase workforce to meet rising industry demand. Under a government initiative to boost education to support the industry, school-industry cooperation has been on the rise in China. The partnership is effectively shaping young ICT talents, diversifying and strengthening the national workforce for the industry behind artificial intelligence (AI), cloud computing and big data. As a result, Chinese ICT capabilities are ratcheting up on a global scale, introducing top-of-the-line electronics, vehicles and ICT infrastructure equipment to help people in the country connect online. Shenzhen Polytech University is one of the schools in China where Huawei’s technology is motivating both teachers and students. Instructors with updated expertise teach students in an environment that understands the importance of the company’s technological assets and strives to keep the cooperation going. The vocational school’s partnership with Huawei began

May 28, 2025By Ko Dong-hwan
Huawei taps universities to train talent outside traditional classrooms

Samsung project helps young adults achieve independence

Samsung Group is expanding its corporate social responsibility (CSR) initiative aimed at supporting the financial independence of young adults exiting child welfare facilities or foster care, with the total number of beneficiaries reaching 38,000. According to Samsung Group, the number of recipients of the Samsung Hope Stepping Stone independence support program stood at 37,840 as of the end of last year, with 15 centers nationwide providing housing and educational support. Samsung Hope Stepping Stone was launched in 2013, inspired by ideas from Samsung Electronics employees who proposed a CSR program designed to support young adults transitioning out of child welfare facilities or foster care after turning 18. With 25 billion won in donations contributed by employees, the program opened its first support center in Busan in 2016. It quickly expanded its reach, with Samsung Electronics contributing an additional 25 billion won in 2019. Initially, the program focused on providing housing stability and emotional support for young adults leaving care. Under this goal, it has opened 15 center

May 28, 2025By Nam Hyun-woo
Samsung project helps young adults achieve independence

Hanwha Ocean offers glimpse of future naval ships in Busan

Hanwha Ocean is showcasing futuristic naval vessels — ranging from surface ships to submarines and unmanned systems — at this year's International Maritime Defense Industry Exhibition. During the four-day biennial event that kicked off in Busan, Wednesday, the shipbuilder is introducing 10 unmanned vessels, four surface ships and three submarines through small-scale replicas and digital mock-ups. In the unmanned systems category, the most notable exhibits include a combat unmanned underwater vehicle and a command-and-control ship designed for manned-unmanned teaming. Hanwha Ocean said the latter is a strategic asset developed to support the Republic of Korea Navy's "smart navy" vision and its "Sea GHOST" (guardian harmonized with operating manned systems and technology-based unmanned systems) concept, capable of operating and commanding a wide range of unmanned and manned assets for complex maritime missions. The surface ship lineup includes a next-generation frigate with enhanced ballistic missile defense capabilities, as well as a futuristic destroyer equipped with electric propuls

May 28, 2025By Park Jae-hyuk
Hanwha Ocean offers glimpse of future naval ships in Busan

POSCO enables circular economy through recycling of steel slag

POSCO said Wednesday it has recycled byproducts of the steelmaking process to enable a circular economy, which refers to an economic system designed to minimize waste and pollution while maximizing resource efficiency through sharing, reusing, repairing and recycling. In particular, the steelmaker has made various efforts to add value to steel slag, which accounts for 75 percent of byproducts from the steelmaking process. Considering the shortage of gravel and sand used in asphalt streets, POSCO has supplied angular steel slag to make paved roads more durable. Last year, the company's steel slag was used to asphalt five sections of National Route 3, a highway that connects Namhae in South Gyeongsang Province to Chosan County in North Korea's Jagang Province. The material was also used to asphalt roads at the steelmaker's Gwangyang plant in South Jeolla Province in February. Last December, POSCO and rival steelmaker Hyundai Steel signed a memorandum of understanding with the Korea Expressway Corporation Research Institute and the Korean Recycled Construction Resources Institute to ensure

May 28, 2025By Park Jae-hyuk
POSCO enables circular economy through recycling of steel slag

Korean Air to showcase next-gen naval drones at 2025 MADEX exhibition

Korean Air said Wednesday it will showcase its next-generation naval unmanned aerial vehicles (UAVs) and military aircraft maintenance, repair and overhaul (MRO) capabilities at the 2025 International Maritime Defense Industry Exhibition (MADEX) in Busan. Korean Air will feature its artificial intelligence (AI) powered micro UAVs, medium-altitude UAVs and a mock-up of the UH-60 Black Hawk helicopter during its inaugural participation in the four-day exhibition under way in the Korean southeastern port city. The company will also highlight its longstanding MRO expertise, particularly in servicing naval aircraft, such as the LYNX, P-3C and F-406, since 1997. Last month, the company secured a performance upgrade contract for UH-60 helicopters. "With our tailored solutions for naval operations and advanced expertise in aircraft overhauls and upgrades, we aim to expand our role in future maritime defense," a company official said.

May 28, 2025By Yonhap
Korean Air to showcase next-gen naval drones at 2025 MADEX exhibition

Sales of hydrogen vehicle slump in January-April

Korea's hydrogen fuel cell electric vehicle (FCEV) sector is facing a sharp downturn this year, with both domestic sales and exports falling significantly amid a lack of demand, industry data showed Wednesday. According to the Korea Automobile & Mobility Association (KAMA), only 18 hydrogen vehicles, including both passenger and commercial models, were exported from January to April, down 70 percent from 60 units a year ago. Domestic sales came to 965 units over the cited period, raising concerns that the annual tally may dip to the lowest in years. Hyundai Motor, which had led the global hydrogen vehicle market with models like the Nexo and the Xcient commercial truck, is losing momentum due to limited model availability and a lack of hydrogen infrastructure. Exports peaked at 1,121 units in 2021 following the launch of the Nexo in 2018 but have since declined. Domestic sales also fell from a high of 10,328 units in 2022 to 4,707 in 2023 and 3,787 last year. Despite weakened sales, experts say hydrogen vehicles remain a key future mobility technology and call for stronger government supp

May 28, 2025By Yonhap
Sales of hydrogen vehicle slump in January-April
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