Latest news with #SouthKorean-built
New Straits Times
01-05-2025
- Business
- New Straits Times
NST Leader: Affordable 'paradise'
In 1985, the 13.5km-long Penang Bridge, connecting the island to mainland Prai, was completed — symbolising the agro-based nation's ambition to become a global industrial powerhouse. The South Korean-built, cable-stayed structured bridge is the longest of its kind in Southeast Asia and has won awards for its unique architecture. At conception stage, the bridge drew criticism, chiefly because it was seen as a "luxury" project. Now, that initial outcry sounds thoroughly antiquated. Luxurious or not, the government disregarded the sceptics, invested RM800 million in construction and realised the early-1970s dream of then prime minister Tun Abdul Razak Hussein and chief minister Tun Dr Lim Chong Eu. Had the government delayed or cancelled the bridge project, construction costs would have exploded into the billions. So robust was Penang's socioeconomic rise that a second bridge — 24km long — was completed in 2014, although a 7.2km undersea tunnel connecting Pangkor Road and Prai's Bagan Ajam remains in limbo. Forty years on, the Penang Bridge has replaced the quaint ferry service while addressing growing congestion, improving public transport, fuelling economic and industrial growth and, above all, boosting tourism. While Penang's industrial and technological strength gains global recognition, it is the state's tourism that is now making headlines, especially after ranking 12th in the prestigious UK Post Office Holiday Money Report 2025. The report assesses holidaying costs in 47 international destinations, with a particular focus on locations offering excellent value for tourist budgets. Travellers and permanent residents consistently vouch for Penang's historic and tourist hotspots, often even more enthusiastically that its fantastic food and impressive luxury and budget stays. Nevertheless, affordability is relative. Foreign visitors may be charmed by Penang's low costs, but the locals appear less enthusiastic as property prices are rising beyond their financial capacity. Yet, everyone's unanimous on the popular street food, thanks to enterprising hawkers. It's a cliché, but no visit to Penang is complete without experiencing authentic nasi kandar, mee goreng mamak, kuetiau goreng, prawn mee, oyster omelette and cendol at the traditional George Town hawker stalls. How do Penang hawkers sustain budget prices, providing full meals for as low as RM3? The answer is in Penang's dense population, which drives a high volume of local and tourist purchases, allowing for decent profit margins. Then there's federal and state initiatives actively promoting affordable housing and implementing price controls, with a clear focus on benefiting lower-income groups. The numbers speak for themselves: rent in Penang is 14 per cent lower than in Kuala Lumpur, and a single individual can maintain a decent standard of living (excluding rent) on around RM2,350 per month. This translates to Penang being 8.6 per cent more affordable than the capital city. What's more, life in Penang offers quality of life without compromise, providing standard amenities and a relaxed, affordable lifestyle in what many consider paradise on earth.
Korea Herald
23-04-2025
- Business
- Korea Herald
S. Korea, UAE agree on joint pursuit of overseas nuclear power projects
South Korea and the United Arab Emirates have agreed to pursue joint nuclear power projects abroad as part of broader bilateral cooperation on nuclear energy, Seoul's foreign ministry said Wednesday. The agreement was reached during a high-level consultation on nuclear cooperation between the two countries, held Tuesday in Abu Dhabi and led by South Korea's Second Vice Foreign Minister Kang In-sun and UAE Energy Minister Suhail Mohamed Al Mazrouei. The consultation was launched in 2018 to discuss bilateral cooperation on nuclear energy. During the latest meeting, the two sides agreed to make a joint entry into overseas nuclear reactor markets and further expand bilateral cooperation on nuclear energy, including joint scientific research. They also agreed to expand their nuclear energy cooperation, currently centered on reactor construction and operation, to include nuclear fuel supply chains and reactor maintenance, according to the ministry. In her opening remarks, Kang referred to the launch of the fourth commercial reactor at the South Korean-built Barakah nuclear power plant in the UAE last year, expressing hope the meeting would pave the way for "post Barakah" nuclear cooperation. The UAE minister called for broadening the scope of bilateral nuclear energy cooperation to jointly address rising demand for clean energy. The next session of the consultation will take place in South Korea next year. In a separate one-on-one meeting, the two officials also agreed to expand bilateral cooperation on the joint development of crude oil stockpiles and future energy sources, such as hydrogen and solar energy. (Yonhap)
Bloomberg
03-04-2025
- Business
- Bloomberg
Oil Traders Shun China-Made Ships for US Flows on Trump Levies
Oil traders looking to book ships that call at US ports are trying to avoid Chinese-built vessels, after President Donald Trump proposed hefty fees on them in a bid to revive American shipbuilding. Charterers booking ships to haul cargoes that will load from, or discharge at, US terminals are asking for vessels that weren't constructed in Chinese yards, according to people involved in the market. The requests are being made when traders have alternatives, such as South Korean-built tankers, the people said, declining to be identified discussing sensitive commercial matters.
Al Arabiya
05-03-2025
- General
- Al Arabiya
Two Philippine air force pilots killed in crash
Two Philippine air force pilots were killed after their aircraft crashed during an anti-insurgency mission in a southern province, military officials said on Wednesday. It was not immediately clear when the accident occurred but the Philippine Air Force said the FA-50 fighter lost contact with other aircraft involved in the mission in Bukidnon province shortly after midnight on March 4, prompting a search-and-rescue operation. The wreckage of the jet fighter, and the two pilots, were found in the Kalatungan mountains in the southern Mindanao region on Wednesday, military officials said. 'The wreckage points to it being a crash,' Air Force spokesperson Consuelo Castillo told reporters in a virtual briefing, adding an investigation is under way to determine the cause of the accident. The remaining 11 South Korean-built FA-50 jets have been grounded following the accident, Castillo added. The Philippines acquired 12 FA-50s from South Korea in 2014 as part of a military modernization program to boost internal security and improve its capability to defend its maritime borders against China in the South China Sea. 'Our intention is to put them back out of grounding immediately to not disrupt our operations too much,' Castillo said.
Yahoo
05-03-2025
- General
- Yahoo
Two Philippine air force pilots killed in crash
MANILA (Reuters) - Two Philippine air force pilots were killed after their aircraft crashed during an anti-insurgency mission in a southern province, military officials said on Wednesday. It was not immediately clear when the accident occurred but the Philippine Air Force said the FA-50 fighter lost contact with other aircraft involved in the mission in Bukidnon province shortly after midnight on March 4, prompting a search-and-rescue operation. The wreckage of the jet fighter, and the two pilots, were found in the Kalatungan mountains in the southern Mindanao region on Wednesday, military officials said. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. "The wreckage points to it being a crash," Air Force spokesperson Consuelo Castillo told reporters in a virtual briefing, adding an investigation is under way to determine the cause of the accident. The remaining 11 South Korean-built FA-50 jets have been grounded following the accident, Castillo added. The Philippines acquired 12 FA-50s from South Korea in 2014 as part of a military modernisation programme to boost internal security and improve its capability to defend its maritime borders against China in the South China Sea. "Our intention is to put them back out of grounding immediately to not disrupt our operations too much," Castillo said.
