Four months after the Queensland flood and cyclone disasters, the state government told Korean authorities and business leaders that the Australian state is open for business.The series of disasters that hit Queensland, including the capital city Brisbane, forced the evacuation of thousands of people from towns and cities. “Our estimate for the flood damage is in the order of ($6 billion),” Queens

Leaders agree to expedite negotiations, expand natural resources tiesPresident Lee Myung-bak and Australian Prime Minister Julia Gillard agreed during summit talks here Monday to conclude bilateral free trade deal negotiations this year, Lee’s office said.“The leaders agreed that negotiations on an Australia-Korea free trade agreement were now in their final stage and reaffirmed their joint goal t

Korea’s state-run Korea Gas Corp. said Monday that it has developed a design technology for the world’s largest liquefied natural gas tank. The tank has a storage capacity of 270,000 kiloliters, up 35 percent compared with that of the largest existing tank, helping reduce the construction cost per LNG tank by 23.5 billion won ($20.9 million), KOGAS said in a statement. The company said it is consi

State-run natural gas developer Korea Gas Corp. said it will further boost its efforts for achieving mutual growth with its contractors and other philanthropic activities, the firm said. KOGAS’ service was recognized last year when it was made Fortune Magazine’s list of the World’s Most Admired Companies. The firm ranked the fourth in the energy firm category. It received good marks for its excell

   South Korea will provide liquefied natural gas (LNG) to Japanese power companies that have been forced to turn off nuclear power plants due to last week's massive earthquake, the government said Sunday.    The Ministry of Knowledge Economy said the state-run Korea Gas Corp. (KOGAS) has decided to divert some LNG shipments that it planned to receive from abroad so they can go to Japan.   The shi