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Mobility

China to cut plug-in hybrid exports by 50 percent; EU trades off with tariff cuts

The European Union and China agreed to halve exports of Chinese plug-in hybrid vehicles to the EU over the next four years. In return, China will cut tariffs on some European products and keep export licensing procedures for rare earths and permanent magnets to the EU running smoothly. The deal follows EU tariffs on Chinese electric vehicles and a subsequent rise in Chinese PHEV exports, and both sides said it complies with WTO rules.

AI & Enterprise

MSIT launches K-Moonshot rare earth industry-academia-research council

South Korea\'s Ministry of Science and ICT launched a K-Moonshot rare earth industry-academia-research council in Seoul on Wednesday to strengthen supply-chain capabilities for materials heavily dependent on China. The ministry is pursuing a K-Moonshot programme that combines AI and science and technology. It plans work from 2027 led by three state research institutes to develop permanent magnet processes that avoid heavy rare earths, sharply cut light rare earth use and recover rare earths from waste magnets.

AI & Enterprise

South Korea, five Central Asian countries expand AI and science technology cooperation, adopt multilateral initiative

South Korea and five Central Asian countries will expand cooperation in AI and science and technology, including joint research and talent exchanges, the Ministry of Science and ICT said on Tuesday. The sides jointly adopted a multilateral partnership initiative covering AI innovation in public services, AI transition in industry and the public sector, and cooperation on future climate technologies, space and energy transition. They will also share policies, systems and best practices.