TerraPower and Seaborg sign Korean cooperation agreements

(Image: South Gyeongsang province)The Governor of South Gyeongsang Province has signed agreements with TerraPower and Seaborg for cooperation in the design and production of next-generation nuclear power plants and research and development in the region.The agreements were signed at the Gyeongnam Small Modular Reactor International Conference, with the province saying it hoped the agreements would strengthen the region's position in the sector and provide opportunities to participate in technology development.Governor Park Wan-soo said in his opening remarks, at what was the first such conference: "Recently, cutting-edge industries such as artificial intelligence and big data are developing rapidly, and the demand for electricity is increasing worldwide. In the midst of these changes, small modular reactors, or SMRs, a carbon-free energy source that is stable and sustainable, are attracting attention from around the world. Last June, our province established a comprehensive plan to foster nuclear power ... and announced that it would invest KRW2.6 trillion (USD1.8 billion) by 2032 and...
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From India to South Korea, crypto exchanges under regulatory lens

Seoul, (IANS): The financial regulator here said on Tuesday it will soon launch an inspection of virtual asset exchanges to check for any illegal or unfair transactions, as India cracks down on crypto platforms.The planned inspection will be the first of its kind since the country introduced tougher rules against illegal trading of virtual assets in July under the new Virtual Asset Users Protection Act, which enabled maximum punishment of life imprisonment for those who gain more than 5 billion won ($3.7 million) through illegal transactions.The Financial Supervisory Service (FSS) said it will inspect two South Korean won-based cryptocurrency exchanges, considering what it called "unusual cases" detected in earlier reviews, reports Yonhap news agency.There are said to be a total of four Korean won-based exchanges in the country.In addition, three more cryptocurrency exchanges and one cryptocurrency wallet provider will come under the planned inspection, as well as any other exchanges when and if any problems or complaints are filed against them, the FSS added.The inspection will check...
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Polling underway in South Korea to elect new Parliament

Polling is underway in South Korea to elect a new Parliament. About 44 million people are eligible to vote for its 300-member National Assembly. The outcome of today’s polls will also set the tone for the remaining years of Yoon Suk-yeol’s presidency. The election comes nearly two years after conservative President Yoon Suk Yeol won the 2022 presidential election defeating Lee Jae-myung of the Democratic Party by just 0.73 per cent – the slimmest margin in South Korean history. South Korea has a powerful presidential system, checked and balanced by the assembly which can pass or stop bills. The parliament is currently dominated by the Democratic Party which holds 142 out of 297 seats.Polling underway in South Korea to elect new Parliame...
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