S. Korea, UAE expand collaboration in hydrogen industry
Mar 04, 2021 23:16 pm UTC| Economy
South Korea and the UAE have agreed to joint venture into hydrogen and other sustainable resources in line with their carbon reduction goals. According to South Koreas Industry Minister Sung Yun-mo, who held a virtual...
S. Korea's economy skids for first time in 22 years
Mar 04, 2021 16:09 pm UTC| Economy
South Koreas economy shrank one percent last year, marking the first annual contraction in 22 years, as the pandemic shuttered service industry jobs and curtailed spending. It was in1998 when the countrys economy last...
S. Korea imports record-high 54,127 tons of wine in 2020
Mar 04, 2021 07:49 am UTC| Economy
South Korea imported a record-high 54,127 tons of wines last year, up 24.4 percent from the previous year, as more of its citizens indulged in drinking at home due to the pandemic. According to the data by the Korea...
Hyundai Heavy collaborates with Saudi Aramco in hydrogen project
Mar 04, 2021 07:44 am UTC| Economy
Hyundai Heavy Industries Holdings has signed a deal to import liquefied petroleum gas from state-run oil firm Saudi Aramco to produce blue hydrogen. Under the deal, Hyundai Oilbank, HHIHs refining unit, will import...
Nippon Steel to increase R&D investment to speed up decarbonization
Mar 03, 2021 22:56 pm UTC| Economy
Nippon Steel will increase spending on research and development (RD) to hasten decarbonization in steelmaking and address climate change issues. The worlds No. 3 steelmaker is facing growing pressure to cut carbon...
Sumitomo Mitsui likely to halt financing all kinds of coal-powered plants
Mar 03, 2021 22:48 pm UTC| Economy
Japans Sumitomo Mitsui Financial Group (SMFG) is likely to stop providing new financing to coal-fired power plants, including more environmentally friendly projects, due to growing pressure from global investors and...
S. Korea eyes ‘travel bubble’ to prop up aviation industry
Mar 03, 2021 22:42 pm UTC| Economy
South Korea will pursue travel bubble agreements for people to travel internationally without restrictions to revitalize the aviation industry, said Finance Minister Hong Nam-ki. Travel bubbles are agreements between...
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Biden administration tells employers to stop shackling workers with ‘noncompete agreements’
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