Archive page 40

Busan, South Korea - Busan has officially opened South Korea's first "Smart Aquaculture Cluster," signaling a significant step in modernizing the country’s fish farming industry. The facility, located at the Ocean Science Research Institute of the National Pukyong University in Gijang-gun, was inaugurated on December 20, 2024, in a ceremony attended by over 100 officials and industry leaders. The event underscored the city’s growing role in advancing sustainable and technologically integrated aq

Busan, South Korea - The Gadeokdo New Airport project, long envisioned as a transformative infrastructure initiative, has taken a major step forward. On December 20, in Busan, the city governments of Busan and Ulsan, the provincial government of Gyeongsangnam-do, and the Gadeokdo New Airport Construction Corporation signed a comprehensive agreement. This collaboration aims to establish the airport as a hub for logistics and economic revitalization in the southern region, marking a critical miles

A recent report from Statistics Korea has highlighted a concerning trend in South Korea’s socio-economic landscape: income mobility, a key indicator of social mobility, has become increasingly stagnant. According to the "2017–2022 Income Mobility Statistics," the majority of individuals in the country remain locked within the same income quintile from year to year, with only 34.9% of people changing their income bracket in 2022. This figure represents a slight decrease from 35.0% in 2021 and 35.

Busan, South Korea - Busan is advancing its ambitious plan to establish itself as a pivotal hub in the global aerospace industry through the development of a Future Aviation Cluster near Gimhae Airport. On December 18, industry representatives, government officials, and academic experts convened at the Haeundae Homers Hotel for the “Busan Future Aviation Cluster Forum.” The event showcased the city’s efforts to foster innovation, strengthen global partnerships, and drive sustainable growth in th

Seoul, December 18, 2024 — Actress Kim Tae-ri, celebrated for her commanding presence on screen, is stepping into a new role: a cultural ambassador for hanbok, Korea’s traditional attire. Through a global campaign spanning New York’s Times Square, Paris' Citadium, and an upcoming exhibition in Seoul, Kim Tae-ri aims to share the elegance and timeless beauty of hanbok with the world. The initiative is part of the “Hanbok Wave Project,” spearheaded by the Ministry of Culture, Sports and Tourism i

Busan, South Korea - Busan’s iconic Gwangandaegyo Bridge is set to introduce Korea’s first Smart Tolling System on a locally managed toll road starting February 1, 2025. The new system aims to eliminate the need for drivers to stop or slow down at toll gates, streamlining traffic flow and modernizing the toll collection process. The Smart Tolling System uses Automatic Number Plate Recognition (ANPR) technology, which identifies vehicles by their license plates as they pass through designated to

Busan, South Korea -The Governors Association of the Republic of Korea (GAROK), chaired by Busan Mayor Park Heong-joon, convened its 60th emergency meeting on December 17, 2024, in Seoul. The session brought together the mayors of metropolitan cities and governors of provincial governments to discuss urgent measures aimed at stabilizing citizens' livelihoods and revitalizing regional economies in the face of ongoing economic challenges and political uncertainty. The meeting was held amid concer

Busan, South Korea – The sharp rise in the U.S. dollar-South Korean won exchange rate has placed significant financial strain on businesses in Busan, particularly those heavily reliant on imported raw materials. According to a recent emergency survey conducted by the Busan Chamber of Commerce and Industry, companies in the steel, food, and chemical sectors are facing increasing operational challenges as import costs escalate. With many commodities priced in USD, businesses are now paying substa