Business

World’s largest hydrogen fuel cell power plant was built in Korea

The Ministry of Trade, Industry and Energy announced on the 26th that it held the completion ceremony of ‘Shinincheon Bitdream Fuel Cell Power Plant’ at the Shinincheon Bitdream headquarters of Korea Southern Power in Seo-gu, Incheon. Seoul [South Korea] : The Shinincheon Bitdream Fuel Cell Power Plant is a power plant with a total capacity of 78 MW constructed in four stages since 2017 by using fuel cells supplied by POSCO Energy and Doosan Fuel Cell. It is the world’s largest fuel cell power plant currently in operation. Unlike other power generators, hydrogen fuel cell emits very little nitrogen oxides (NOX) and sulfur oxides (SOX) as it does not produce electricity through high-temperature combustion.It also plays a role of a ‘large-scale air purifier’ that sucks fine dust in the air and filters it out.The fuel cell power plant completed this time is expected to…

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‘Shipbuilding powerhouse’ Korea helps Colombia develop shipbuilding industry

Seoul [South Korea]: The Korea International Cooperation Agency (KOICA) announced on October 15 that it has signed an MOU agreement with Colombia’s Ministry of Commerce, Industry and Tourism to help establish a foundation to promote shipbuilding industry.The Colombian government has selected the shipbuilding industry as one of the core national industries and is making effort to promote it, but it is slow to enter the steel ship business, which creates high added value. Under the agreement, KOICA will invest USD 5 million (about 5.9 billion won) by 2024 to establish a mid-to-long-term development plan for the Colombian shipbuilding industry and will invite Colombian officials and Design and production workers to Korea for training.In order to foster shipbuilding technology, it will prepare laboratories at Columbia’s national training centres and also support training equipment and instructors.At the signing ceremony held at the government complex in the…

Asia International

North Korea says communication channels with South to be restored on Monday

Seoul [South Korea]: North Korea says all the communication channels with South Korea will be restored starting midnight, the Yonhap news agency reported.All inter-Korean hotlines will be restored starting at 9 am (local time) on Monday, October 4 (00:00 GMT), Yonhap said. At the end of September, Kim Yo Jong, the deputy department director of the Workers’ Party of Korea Central Committee and the North Korean leader’s sister, said that Pyongyang was ready to declare the end of the war with Seoul, bring back the Inter-Korean Liaison Office and hold a leaders’ summit provided that bilateral relations are marked by respect and fairness.The statement came in response to South Korean President Moon Jae-in’s proposal to declare the end of the war between Seoul and Pyongyang.

Business

Netflix created 5.6 trillion WON in economic effects, 16,000 employment effects over 5 years after entering Korea

Netflix, the world’s largest OTT (Over-the-top) service and online video streaming platform announced that it has created 5.6 trillion won in economic value and 16,000 jobs by making continuous investments over the past five years since entering Korea. Seoul [South Korea], September 30 : It is analyzed that Netflix is strongly claiming the mutual growth in response to the rising ‘Techlash’ trend (a backlash against the IT companies or strengthening sanctions) around the world, including Korea. Netflix held the ‘Netflix Partner Day’ on Wednesday and announced the achievements of shared growth over the past five years with the Korean creative ecosystem.At this event, Korean partners of Netflix, including a special makeup company Studio CELL’s CEO Hwang Hyo-kyun, Dexter sound’s subsidiary LIVETONE’s CEO Choi Tae-young, VFX (Visual Effect) company West World’s CEO Son Seung-hyun, and a dubbing and subtitling company Iyuno-SDI Group’s global customer director…

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Once it reopens for foreign tourists, India to tap markets of Europe, America, Australia, Japan, Korea

New Delhi [India]: As Covid cases show continuous downtrend, India is all set to open the country for foreign tourists after a gap of 1.5 years, ANI has learnt. Officials of the Tourism Ministry and Home Affairs had met on this matter and it is likely that tourist visa will be restored soon.The Ministry of Finance has announced already to give free tourist visas to the first 5 lakh tourists who will be visiting India subsequent to the restoration of the tourist visa. India is expecting slow arrival of tourists keeping in view post Covid scenario. According to an internal assessment done by the Ministry of Tourism it is likely that till March next year the country would be able to get 5 lakh tourists if all goes well.To get the tourism industry back on track and fill coffers with foreign exchange, India is…

International

Jaishankar meets counterparts from Korea, Italy, Australia on UNGA sidelines

External Affairs Minister S Jaishankar on Tuesday held meetings with his counterparts from Korea, Italy and Australia on the sidelines of the 76th session of the United Nations General Assembly. New York [US], September 22 : Jaishankar met his South Korean counterpart Chung Eui-Yong and had wide-ranging conversations on different aspects of the bilateral relationships, including Southern Policy and India’s Act East Policy. “Pleased to meet FM Chung Eui-Yong of the Republic of Korea. A wide-ranging conversation on different aspects of our relationship. RoK’s New Southern Policy and India’s Act East Policy have strengthened our convergence in the Indo-Pacific,” tweeted Jaishankar. While interacting with his Italian counterpart Luigi Di Maio, he discussed challenges related to vaccine accessibility and smooth travel.Foreign Minister of Italy Luigi Di Maio is the current G20 chair.“Discussed challenges related to vaccine accessibility and smooth travel. Look forward to joining him…

International

North Korea appears to have restarted its nuclear reactor: UN

Pyongyang, Aug 30(UNI) According to the International Atomic Energy Agency(IAEA) North Korea has secretly restarted its Yongbyon nuclear reactor, a report by the UN atomic agency said here on Sunday. The agency said that the reactor is believed to produce plutonium for nuclear weapons, the BBC reported here on Monday. The International Atomic Energy Agency (IAEA) was expelled by Pyongyang in 2009 and relies on satellite imagery to carry out its assessments. Its latest report said there were indications of activity “consistent with the operation of the reactor” since early July.

Corona Updates

South Korea reports 1,987 more COVID-19 cases, 218,192 in total

Seoul, Aug 12: South Korea reported 1,987 more cases of the COVID-19 as of midnight Wednesday compared to 24 hours ago, raising the total number of infections to 218,192. The daily caseload was down from 2,222 in the previous day, but it hovered above 1,000 for 37 straight days. The daily average tally for the past week was 1,785. The recent resurgence was attributable to cluster infections in Seoul and its surrounding Gyeonggi province. Of the new cases, 522 were Seoul residents and 570 were people residing in Gyeonggi province. The virus spread also raged in the non-metropolitan area. The number of newly infected people in the non-capital region was 746, or 38.3 percent of the total local transmission. Forty cases were imported from overseas, lifting the combined figure to 12,592. Three more deaths were confirmed, leaving the death toll at 2,138. The total…

International

South Korea’s Capital Seoul Witness Distancing Curbs As Coronavirus Spreads

From Monday, South Korea will impose the highest level of social distancing restrictions (level 4) in its capital Seoul and other neighbouring areas with a view to curb the spread of the coronavirus disease (Covid-19). South Korea, which is currently witnessing the fourth wave of the pandemic, has so far recorded 1,69,146 cases and 2,044 deaths due to the viral disease. According to the new regulations, private social gatherings of three or more people will be prohibited after 6pm, churches and night clubs will be closed, and visitors will not be allowed at hospitals and nursing homes. All types of rallies have been banned and only family members can attend funerals and marriages. On Sunday, 1,100 people tested positive for Covid-19, according to the Korea Disease Control and Prevention Agency (KDCA). This is the sixth consecutive day that the daily infections were above the…

International

“North Korea Likely To Face Food Shortage”: United Nation’s Food and Agricultural Organisation

The acute food shortage in North Korea where the price of a packet of coffee has gone up to $100 is just the beginning of a harsh, lean period in the country, the United Nation’s Food and Agricultural Organisation has forwarned, estimating North Korea’s food shortage of this year at around 860,000 tonnes this year. The country could experience a “harsh lean period” as early as next month, the UN body has said. According to the FAO report, as quoted by AFP, North Korea is projected to produce a “near-average level” of 5.6 million tonnes of grain this year, which is around 1.1 million tonnes short of the amount required to feed its entire population. With “commercial imports officially planned at 205,000 tonnes”, North Korea will likely face a food shortage of around 860,000 tonnes. “If this gap is not adequately covered through commercial…