Philippines aims to launch commercial nuclear power by 2032

SEOUL, September 27 (AJP) - The Philippine government has unveiled plans to start operating commercial nuclear power plants with a minimum capacity of 1,200 megawatts by 2032. Sharon Garin, Undersecretary of the Philippine Department of Energy, announced this goal at the International Atomic Energy Agency (IAEA) General Conference in Vienna, Austria. The country aims to gradually increase nuclear power capacity to 4,800 megawatts by 2050. In preparation for this nuclear initiative,

September 27, 2024

Korean trade association opens office in Poland

SEOUL, September 27 (AJP) - The Korea International Trade Association (KITA) said Friday it has opened its second overseas office in Europe in Warsaw, the capital of Poland, to support exports to Central and Eastern Europe. Poland is Korea's second-largest export destination in the European Union, KITA said, adding that the two countries are collaborating in various fields, including batteries, defense, infrastructure, and the reconstruction of Ukraine. "Last year, trade

September 27, 2024

Indonesia applies to join CPTPP, aims for economic reform

SEOUL, September 27 (AJP) - Indonesia has officially applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a Japan-led multilateral free trade agreement in the Asia-Pacific region. Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto announced that the country had sent a letter of application to New Zealand, aiming to become the 13th member of the CPTPP. Minister Airlangga said, "This decision is to structura

September 27, 2024

Seoul court rules Samsung C&T not liable for delayed interest to Elliott

SEOUL, September 27 (AJP) - A Seoul court ruled on Friday that Samsung C&T is not required to pay delayed interest to the U.S. hedge fund Elliott in a lawsuit over a controversial merger between two Samsung Group units. The Seoul Central District Court rejected Elliott's claim for the additional payment of 26.7 billion won (US$20.2 million), which stemmed from a dispute over Samsung C&T's merger with Cheil Industries in 2015. Elliott opposed the merger and exercis

September 27, 2024

SK Ecoplant unit launches battery recycling plant in Netherlands

SEOUL, September 27 (AJP) - SK tes, a subsidiary of Korean environmental services firm SK Ecoplant, announced the inauguration of a battery recycling facility in Rotterdam, Netherlands on Friday. The plant, capable of processing batteries from about 40,000 electric vehicles annually, aims to strengthen the company's position in the growing European battery recycling market. The facility, spanning 10,000 square meters, can produce up to 10,000 tons of black mass per year. Black m

September 27, 2024

Samsung Electronics struggles with labor union in India

SEOUL, September 27 (AJP) - Workers at Samsung Electronics' factory in southern India have been on strike for three weeks. According to Samsung Electronics, workers at the factory in Sriperumbudur, Tamil Nadu, have formed the Samsung India Labour Welfare Union (SILWU), under the Centre of Indian Trade Unions (CITU), which is affiliated with the Communist Party. The workers have refused to work since Sept. 9. The Chennai factory, built by Samsung Electronics in 2007, produces

September 27, 2024

Japan's ruling party to select new leader amid political turmoil

SEOUL, September 27 (AJP) - Japan's Liberal Democratic Party (LDP) is set to elect a new leader on Friday to succeed Prime Minister Fumio Kishida, as the party grapples with a funding scandal that has eroded public trust. The unusually crowded race features nine candidates vying for the top position. Former Defense Minister Shigeru Ishiba, economic security minister Sanae Takaichi, and Shinjiro Koizumi, son of former Prime Minister Junichiro Koizumi, have emerged as frontrunners

September 27, 2024

Muslim American group endorses Kamala Harris amid tensions over Middle East

SEOUL, September 27 (AJP) - Vice President Kamala Harris has received the endorsement of Emgage Action, a leading Muslim American voter mobilization group, boosting her presidential campaign. Many Muslim and Arab American organizations have refrained from endorsing candidates or have supported third-party options. Emgage Action, the political arm of an 18-year-old Muslim American advocacy group, announced its support for Harris on Wednesday, emphasizing the importance of preventing

September 27, 2024

Western nations urge 21-day ceasefire in Lebanon amid rising tensions

SEOUL, September 27 (AJP) - Western nations, including the U.S., U.K., EU, and Australia, have called for a temporary ceasefire in Lebanon amid rising tensions between Israel and Hezbollah. A coalition of 12 countries proposed a 21-day pause in fighting to allow for diplomatic efforts and to work toward a ceasefire in Gaza. There is increasing concern that the escalating violence could lead to a broader conflict, with the Middle East on edge. In a joint statement released on Thursda

September 27, 2024

China's top leadership discusses economic strategy

SEOUL, September 27 (AJP) - Chinese President Xi Jinping chaired on Thursday a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee to evaluate China's economic landscape and outline upcoming economic initiatives, as reported by Xinhua News Agency. The meeting acknowledged China's economic fundamentals, including its vast market, resilience, and potential, remain strong. It stressed the importance of maintaining a balanced, objective perspe

September 27, 2024