South Korea Approves Construction of Two New Nuclear Reactors in Energy Policy Boost
South Korea is actively advancing its nuclear energy sector, having approved the construction of two new nuclear reactors. This decision comes amid rising electricity demand and the country's desire to reduce reliance on fossil fuels. The new construction is expected to create additional jobs and contribute to economic growth.
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Unemployment Rate in South Korea Falls to Record Low Amid Possible Rate Cuts
Recent data shows that the unemployment rate in South Korea has dropped to a record low. The country’s Ministry of Labor reported an unemployment rate of 2.5% in August, the lowest level in 30 years. Economists attribute this positive change to an increase in job creation, particularly in the services and manufacturing sectors.
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Korean Land Minister Advocates Rate Cut to Boost Regional Economies
The South Korean Land Minister, Kim Hee-sok, expressed his belief that a reduction in interest rates could positively impact the economic situation in the region. He emphasized that the current economic conditions in the country and its neighboring states necessitate measures to stimulate growth. The minister also called for more proactive steps from the Bank of Korea to ease financial conditions and support businesses.
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South Korea Aims to Compete with China in Global Infrastructure Market
South Korea has set its sights on expanding its influence in the global infrastructure sector, creating a counterbalance to China's growing dominance. The country’s authorities are looking to attract foreign investments and actively participate in major infrastructure projects around the world.
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South Korea Embraces Nuclear and Hydrogen Energy to Cut Carbon Emissions
South Korea has announced a new strategy aimed at combating climate change by increasing the share of nuclear and hydrogen energy in its energy system. This initiative is designed to significantly reduce carbon emissions and achieve climate goals by 2030. Under this plan, the government of the country intends to actively utilize nuclear reactors and develop hydrogen energy technologies.
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South Korea's Economy Shrank as Initially Estimated
South Korea's economy contracted by 0.3% in the second quarter of 2024, fully in line with the preliminary data from the country's central bank. This decline is attributed to a slowdown in consumer spending and mounting global economic uncertainty, which has put pressure on exports that traditionally play a crucial role in South Korea's economic growth.
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South Korea Tightens Emissions Trading Rules to Boost Prices
The South Korean government plans to implement stricter emissions trading rules with the aim of stabilizing and increasing the prices of carbon credits in the country. The new measures were outlined in a recent statement by the Ministry of Environment, emphasizing the need to create a more transparent and effective system to enhance incentives for businesses to reduce greenhouse gas emissions.
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South Korea's Inflation Slows, Supporting Case for Rate Cuts
Recent data has shown that inflation rates in South Korea continue to decline, which could support a potential cut in interest rates in the country. In August of this year, the annual inflation rate was recorded at just 1.3%, significantly lower than economists’ forecast of 1.5%. This marks the lowest figure observed since December 2020.
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South Korea Launches Investigation into Telegram Over Alleged Negligence Regarding Deepfake Crimes
South Korean law enforcement has initiated an investigation into Telegram and other instant messaging platforms over allegations of insufficient responses to cases involving deepfakes being used for criminal activities. Recently, the country has seen an increase in incidents of fake videos being utilized for blackmail, harassment, and other offenses, causing public concern.
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South Korea Urges Telegram to Tackle Deepfake Sex Crimes
The South Korean government has recently reached out to Telegram's management with an urgent request to take more stringent measures against the use of the platform for the dissemination of deepfakes related to sexual crimes. This move comes in response to growing concerns over abuses linked to deep learning and artificial intelligence technologies, which enable the creation of fake images and videos that undermine individuals' privacy, particularly for women.
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