Michael Herh

2 days ago | businesskorea.co.kr | Michael Herh

The won-dollar exchange rate has entered the 1,350 won range for the first time in about seven months, influenced by the weakening dollar due to poor U.S. economic indicators and expectations for the new Korean government. As of 10:00 a.m. on May 5 in the Seoul foreign exchange market, the Korean won was trading at 1,356.2 won against the U.S. dollar, down 13.3 won from the previous day’s weekly closing price.

2 days ago | businesskorea.co.kr | Michael Herh

Korea Hydro & Nuclear Power (KHNP) has finally won the contract for the construction of Units 5 and 6 at the Dukovany Nuclear Power Plant in the Czech Republic. This marks the first overseas export in 16 years since securing the construction project for Units 1-4 of the Barakah nuclear power plant in the United Arab Emirates (UAE) in 2009. The significance is particularly noteworthy as it represents the first entry into the European market, which has led the nuclear power industry.

2 days ago | businesskorea.co.kr | Michael Herh

Chinese companies are rapidly increasing their sales in the global electric vehicle market. SNE Research reported on June 5 that, as of April this year, the total number of electric vehicles registered worldwide was approximately 5,808,000 units, up about 34.6% from the previous year. BYD of China ranked first, selling about 1,242,000 units, a 43.2% increase compared to the same period last year.

2 days ago | businesskorea.co.kr | Michael Herh

Doosan Enerbility has successfully completed performance testing of its independently developed 380MW gas turbine. The company plans to intensify its efforts to penetrate overseas export markets with this gas turbine, which also meets global environmental regulation standards. Doosan Enerbility announced on June 5 that its 380MW gas turbine model has successfully passed the rated load performance test.

3 days ago | businesskorea.co.kr | Michael Herh

The contract for the Dukovany Nuclear Power Plant Units 5 and 6 project in the Czech Republic, which had been halted due to French opposition, is expected to resume soon. The Czech Supreme Administrative Court has canceled the injunction filed by Électricité de France (EDF) that prohibited the nuclear power plant contract. Once the date is coordinated with the Czech government, President Lee Jae-myung is expected to visit the Czech Republic to attend the signing ceremony.