South Korea’s Oceans Ministry unveils record 2027 budget to drive maritime growth

SEJONG -- South Korea’s Ministry of Oceans and Fisheries has proposed an 82.6 trillion won ($59 billion) budget for 2027, up 10.8 percent from this year, with increased spending planned for fisheries, ports, marine technology and coastal communities. The proposed increase would be the largest annual growth rate in the ministry’s budget since it was reestablished in 2013, the ministry said in a proposal pre-briefing Monday. Under the proposal, 38.8 trillion won would go to fisheries and coastal c

2026-09-01 18:11:34:00

South Korea proposes record W22.2 trillion agriculture budget for 2027

SEJONG — South Korea’s Ministry of Agriculture, Food and Rural Affairs has proposed a record 22.2 trillion won ($16.2 billion) budget for 2027, up 10.4 percent from the previous year, as the government seeks to strengthen farm incomes, modernize agriculture and revitalize rural communities. The ministry said the proposal approved at a Cabinet meeting represents the largest year-on-year increase in both value and percentage terms since 2000. Including debt repayments from agricultural funds, the

2026-09-01 17:38:53:00

Hanwoo producers oppose market opening to Brazilian beef

The Hanwoo Association has launched a campaign opposing the government’s push to expand beef imports through a possible Korea-Mercosur free trade agreement and the opening of the Brazilian beef market. The association’s board of directors passed a resolution last week calling for phased action against what it described as the government’s “beef market liberalization” policy, warning that increased imports from South America could threaten the survival of Korea’s domestic hanwoo industry. The gov

2026-08-24 16:48:28:00

K-meat gains ground in Singapore as hanwoo, handon exports expand

Premium Korean beef and pork are gaining traction in Singapore, as exports make their debut in the market. The Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries & Food Trade Corp. (aT) said last week that marketing efforts targeting Singapore’s premium food market have accelerated since quarantine procedures for Jeju Island-produced hanwoo and handon — Korean beef and pork, respectively — were completed in November 2025. As of the end of June, hanwoo exports to Singapo

2026-08-24 16:48:21:00

Busan selected to host 2028 UN Ocean Conference

Busan has been selected to host the 2028 United Nations Ocean Conference, one of the world’s most important high-level gatherings on marine issues. South Korea was designated as the host country for the 2028 conference by the UN General Assembly in December 2025, and the Ministry of Oceans and Fisheries announced Monday the selection after a committee reviewing bids from Busan and Jeju chose South Korea's largest port city. The UN Ocean Conference is held every three years to promote the impleme

2026-08-24 16:06:20:00

South Korea launches first container ship pilot voyage through Northeast Passage

BUSAN — South Korea will launch its first pilot operation of a container ship through the Northeast Passage on Saturday, as the government steps up efforts to develop new Arctic shipping routes and assess their commercial potential. The Panstar Acro, 2,758 twenty-foot equivalent units in size, operated by Panstar Line.com Co., will depart from Busan New Port for a 45-day round trip to Europe via the Arctic route. The vessel will sail through the Northeast Passage and call at Felixstowe in Englan

2026-08-24 16:06:03:00

Korea, Greece launch major exhibition tracing 6,000 years of maritime civilization

South Korea and Greece have launched a major exhibition tracing nearly 6,000 years of Greek civilization and its deep connection to the sea, marking the 65th anniversary of diplomatic relations between the two countries. The Ministry of Oceans and Fisheries and the Incheon National Maritime Museum are cohosting “The Greeks: Shaped by the Sea” in cooperation with Greece’s Ministry of Culture. The exhibition, which opened Tuesday, is being held in the Special Exhibition Hall of the Incheon Nationa

2026-08-24 16:05:40:00

S. Chungcheong will lead AI and advanced manufacturing: Governor Park

HONGSEONG, South Chungcheong Province — South Chungcheong Governor Park Soo-hyun believes the province is at a historic turning point. With more than 200 trillion won ($142 billion) in planned investments tied to the government's recently announced Mega Project, Park says South Chungcheong has an unprecedented opportunity to establish itself as South Korea's leader in artificial intelligence and advanced manufacturing. Calling the investment package "the greatest opportunity since the founding o

2026-08-10 09:08:17:00

Galaxy Robot Park sells out July pre-launch shows ahead of September opening

Galaxy Corporation, a South Korean artificial intelligence-driven entertainment technology company, said Tuesday its upcoming Galaxy Robot Park has sold out all weekend performances scheduled during its July pre-launch period, reflecting strong early demand ahead of the venue's official opening in September. According to the company, approximately 8,000 reservations were made during the initial July booking period. Weekend performance slots were filled shortly after ticket sales opened, promptin

2026-07-07 18:01:46:00

Sejong City secures landmark W8tr investment from Samsung

SEJONG -- Sejong Special Self-Governing City has achieved its largest-ever single investment deal since its establishment, securing 8 trillion won ($5.2 billion) from Samsung Electro-Mechanics to build a cutting-edge semiconductor package substrate production line, city officials said Thursday. The agreement was signed at Samsung Display’s second campus in Asan, South Chungcheong Province, with new Sejong Mayor Cho Sang-ho, regional governors and executives from Samsung, SK Hynix, and Celltrion

2026-07-02 18:02:12:00