Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
S. Korea aims to become No. 4 robotics player by 2023
South Korea plans to turn the nation’s robotics technology into a 15 trillion-won ($13.3 billion) industry, with the aim of becoming the fourth-largest player in the world by 2023. “Traditional manufacturing sectors can be transformed into future industries by making use of robots,” said President Moon Jae-in at a briefing session on the nation’s robot development strategy at the headquarters of Hyundai Robotics in Daegu, Friday. President Moon Jae-in demonstrates a robot at the headquarters of
Industry March 22, 2019
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S-Oil apologizes for collusion, price-fixing
South Korean oil refiner S-Oil released an apology Thursday after pleading guilty to collusion and price-fixing in the process of providing oil to US forces in Korea. “S-Oil reached a settlement agreement with the (US) Department of Justice pertaining to charges against a violation of the US antitrust act during past bids for fuel supply to the US Forces Korea that have been under investigation,” said a spokesperson of the firm. The oil refiner added it deeply regrets the incident.The company sa
Industry March 21, 2019
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Korea should be ready for US trade policy changes: KITA
South Korea needs to be ready for any implications associated with possible changes in US trade policy ahead of the US election next year, according to the Korea International Trade Association on Thursday. “This year is highly likely to be a watershed of the US trade policy that will determine the re-election of the President Donald Trump. Korean companies need to come up with countermeasures for both short-term implications in trade and possible changes in the mid- to long-term production netw
Industry March 21, 2019
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Korea to shift all commercial vehicles to fuel cell energy by 2035
South Korea is slated to set a goal of entirely shifting commercial vehicles -- including trucks and construction machinery -- to run on fuel cell energy by 2035 in its efforts to address serious fine dust problems, according to plans released by Transport Minister-nominee Choi Jeong-ho. Hydrogen-powered trains are also expected to be commercialized after 2025. The ministry’s plan was released on Wednesday by Rep. Yoon Kwan-seok of the ruling Democratic Party of Korea, who received documents fro
Industry March 20, 2019
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Posco promotes SsangYong’s new Korando
South Korean steelmaker Posco has launched a joint promotion on Wednesday to promote SsangYong Motor’s new sport utility vehicle Korando, by exhibiting them in its headquarters in Seoul. This promotion is part of Posco’s campaign “Business with Posco” aimed for mutual growth with its partners, clients and suppliers. Posco Chairman Choi Jeong-woo (right) and SsangYong Motor's Vice President Yea Byung-tae (Posco)On the day, Posco Chairman Choi Jeong-woo joined a test-drive event of SsangYong’s new
Industry March 20, 2019
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LS Cable & System launches eco-friendly cable for vessels
LS Cable & System said Tuesday it has launched cables capable of supplying shore-side electricity to vessels with the hope of replacing the conventional ways of power supply that results in air pollution. The cable is used to supply vessels anchored at a port with power from shore-side facilities. (LS Cable & System)The firm hopes this will replace the conventional way of generating power, which is made during the operation of the engine using bunker C oil as fuel. During this process, air pollu
Industry March 19, 2019
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Hyundai, Kia invest $300m in India’s mobility service provider
Hyundai Motor Group said Tuesday it will invest $300 million in India’s largest ride-hailing platform Ola, its biggest investment so far.Under the agreement, Hyundai Motor, Kia Motors and Ola will collaborate on developing fleet and mobility solutions, as well as building India-specific electric vehicles and infrastructure, the firm said.Chung Eui-sun (right), executive vice chairman of Hyundai Motor Group, and Bhavish Aggarwal, co-founder and CEO of Ola (Hyundai Motor)Through the partnership, O
Industry March 19, 2019
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LG partners with Gwangju City to foster air-purifying ecosystem
LG Electronics has partnered with Gwangju City to foster an industrial ecosystem focused on air quality, amid growing concerns over air pollution in South Korea, according to the government.Fostering such an industrial ecosystem is one of the government’s regional initiatives to stimulate the recovery of 14 regions that are facing industrial hollowing out. The effort will focus on the development of technologies and products for air purifiers, humidifiers and dehumidifiers amid growing demand fo
Industry March 18, 2019
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Posco Daewoo rebranded as Posco International
Posco Daewoo has decided to rebrand itself as Posco International during a general shareholders meeting, according to the trading arm of South Korea’s largest steelmaker Monday. The firm said the change of the name is aimed at shaping its identity as a global trading company, leading global business of Posco Group and raising the future valuation. Posco International CEO Kim Young-sang (Posco International)“The launch of Posco International is an important momentum to create synergies with overs
Industry March 18, 2019
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South Korean conglomerates’ cash reserves hit record high
South Korea’s largest 10 conglomerates held record-high cash reserves last year, as they earned more on thriving chip businesses but spent less on fears of a sluggish economic outlook.According to local corporate tracker Chaebul.com on Sunday, the nation’s 10 biggest business groups by assets had combined cash reserves of around 248 trillion won ($218 billion) last year, up 12.2 percent from 2017, based on the consolidated financial statements of their 95 affiliates. The cash reserves in consoli
Industry March 17, 2019
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[Weekender] Itaewon’s identity wanes in the wake of gentrification
Late on a Saturday afternoon, Itaewon was nothing like the way it is described in most Seoul tourism books. People could be seen walking down the street in sparse numbers. Stores were almost empty. Some had gone out of business and displayed “for rent” signs in their windows. Granted, this neighborhood is better known for its nightlife, but it was too quiet for a place once known as a “magnet” for expats and locals alike. An owner of a souvenir shop on the neighborhood’s main street told The Kor
Culture March 14, 2019
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Korea asks Google to change unfair terms for YouTubers’ content
The Korea Fair Trade Commission said Thursday it asked Google to change some of its terms and conditions related to copyright infringement, as the first competition authorities in the world to do so. Google’s video-streaming platform currently allows the firm to arbitrarily delete and reuse video posted by users.The antitrust watchdog said it is unfair that even if a user deletes his or her video, YouTube can still possess and use that video. It is also unfair that YouTube can arbitrarily delete
Industry March 14, 2019
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LPG vehicles to be allowed for everyone in Korea
Under legislation passed Wednesday morning, anyone in South Korea can now buy a liquefied petroleum gas-fueled vehicle. Previously, only taxis and rental cars could use LPG fuel. The bill, proposed by Rep. Yoon Han-hong of the main opposition Liberty Korea Party and calling for the complete deregulation of LPG vehicles, passed during the plenary session of the National Assembly’s industry committee. (Yonhap)Yoon proposed the bill in 2016, citing a growing need to expand consumer choices, supply
Industry March 13, 2019
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Antitrust watchdog chief to share competition policies with European counterparts
The Korean Fair Trade Commission chief is slated to share the nation’s competition policies and law enforcement with European nations during his seven-day trip to the continent this week. During his stay, Kim Sang-jo is slated to have a bilateral meeting with the European Union’s top antitrust official, give a keynote speech at the International Workshop on Competition Policy in Serbia and participate as a speaker at the International Conference on Competition held in Berlin. On Sunday, Kim Sang
Industry March 11, 2019
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Kakao, taxi drivers deal may set bad precedent: SoCar CEO
Lee Jae-woong, founder and CEO of car-sharing app SoCar, said the latest deal struck by taxi unions and car-sharing service providers may set a bad precedent as it appears to restrict business activities already allowed under the current law. After a monthslong dispute, an agreement was reached Thursday among the government, lawmakers, taxi companies and car-sharing firms to allow a car-sharing service for four hours daily on weekdays, in a move that hopes to end protests from taxi drivers claim
Industry March 8, 2019
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