The Ministry of Labour and Vocational Training (MoLVT) and the Korea International Cooperation Agency (KOICA) are committed to enhancing technical and vocational education and training (TVET) initiatives in Cambodia. The commitment was highlighted in a meeting between MoLVT Minister H.E. Heng Sour and Country Director of KOICA Cambodia Office Ms. Choi Moon Jung at the ministry on Mar. 12. The two sides also explored pathways to further empower Cambodia's youth with skills for the future job market, well aligned with Cambodia's vision of fostering a skilled workforce to drive sustainable development. H.E. Heng Sour also spoke highly of South Korea's support for the National Polytechnic Institute of Cambodia so far, making it a model TVET school. The minister added that under a new project supported by KOICA called 'Building Capacity and Establishing Enabling Environment in ICT Majors of TVET in Cambodia 2023-2027,' more high-quality TVET schools will be created. Source: Agence Kampuchea Presse LG Energy Solution Ltd. (LGES), South Korea's leading battery maker, said Thursday its research and development (R and D) investments exceeded 1 trillion won (US$760 million) for the first time last year despite faltering demand for electric vehicles (EVs). LGES' investments in R and D activities jumped 18.4 percent to 1.037 trillion won in 2023 from 876 billion won a year earlier, according to the company's 2023 business report. To secure "unrivaled competitiveness" in the battery sector, the company said it will continue to expand R and D investments this year. Separately from R and D spending, LGES injected 10.89 trillion won in production facilities last year, jumping 73 percent from 6.29 trillion won the previous year. LGES earlier expected the EV market will grow by a mid range of 20 percent this year, slowing down from a previous average annual growth of 30 percent, amid a downturn in the global economy. To ride out unfriendly market conditions, it plans to strengthen its product portfolio by addi ng nickel-rich NCMA (nickel, cobalt, manganese, aluminum) lithium-ion batteries, as well as lithium iron phosphate (LFP) batteries. An LFP battery is a type of lithium-ion battery known for its enhanced safety features, high energy density and longer life span. In North America, LGES currently operates two plants in Ohio and Michigan, with six factories, including one in Canada, to be completed in coming years. In addition, the company operates one plant in South Korea, one in Poland and one in China, while preparing to start operations at its Indonesian plant this year. Source: Yonhap News Agency
