Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Daesung chairman receives honorary doctorate from KAIST
Daesung Group Chairman Younghoon David Kim received an honorary doctorate in science and technology from the Korea Advanced Institute of Science and Technology, the firm said Tuesday. Kim received the honorary doctorate at the 2020 online graduation ceremony held at KAIST in Daejeon on Friday in recognition of his contributions to the development of the nation‘s economy through corporate management over the past two decades. Kim has been taking part in diverse international activities
Industry Sept. 1, 2020
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Samsung Heavy’s LNG liquefaction technology certified by ABS
Samsung Heavy Industries said Tuesday it obtained a detailed design approval from the US ship classification organization American Bureau of Shipping for its natural gas liquefaction cycle technology, the first in the shipbuilding industry. The shipbuilder said, upon the approval, it can save costs for the payment of technology fees and the restrictions on selecting equipment by breaking away from the dependence of overseas engineering companies that have original technologies. Natural gas
Industry Sept. 1, 2020
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More firms stand in regulatory blind spot: FTC
South Korea’s antitrust watchdog said Monday that an increasing number of companies occupy a regulatory blind spot that shields the owner families. Owners increased their shares through indirect investment from public corporations and overseas affiliates this year, it said. The Fair Trade Commission said it analyzed the stock ownership of the 64 largest groups and their 2,292 affiliates. Among the groups, the equity held by owner families amounted to 3.6 percent, down 0.3 percentage p
Industry Aug. 31, 2020
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Hyundai Motor unveils Ioniq brand song with BTS
Hyundai Motor said Monday it will introduce brand song of its new electric vehicle Ioniq with boy band BTS. The brand song “Ioniq: I’m on it” will be distributed on the automaker’s global website at 7 p.m. on Monday. Hyundai Motor and BTS have been working together on various marketing activities for three years since the band was chosen as Palisade’s global PR ambassador in 2018. The automaker said the latest project aims to convey a vision of the infinite po
Mobility Aug. 31, 2020
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Samsung Display sold Suzhou LCD plant to CSOT
CSOT, a panel unit of Chinese home appliance maker TCL, acquired Samsung Display’s Suzhou LCD plant for $1.08 billion, making China the producer of half the world’s large LCDs, industry sources said Sunday. According to the sources, CSOT signed a deal with Samsung Display to acquire 60 percent of the Suzhou plant for $1.08 billion. The remaining 10 percent will be owned by the parent company, TCL, and 30 percent by the Suzhou city government. The Suzhou plant was responsible for
Technology Aug. 30, 2020
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[Photo News] Luxury goods sales surge
Shoppers look at luxury goods at Lotte Department Store in Jamsil, Seoul, in July. Department store sales of luxury brands jumped more than 30 percent last month, although overall sales declined due to the pandemic and the rainy season, government data showed Sunday. Analysts say people spent more of their savings on luxury goods because they were not allowed to travel abroad during the holiday season. (Photo: Yonhap)
Industry Aug. 30, 2020
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Eastar Jet to send letters of intent to candidates this week
Low-cost carrier Eastar Jet is speeding up a new acquisition deal after talks with Jeju Air were scrapped last month. The airline said Sunday its financial advisers Deloitte Korea, Yulchon and Heungkuk Finance Group would send letters of intent to takeover candidates this week. Three to four large funds and companies are reported to have already expressed their intention to invest. An Eastar Jet official said, “There were some companies that can be known by their names, and some of
Mobility Aug. 30, 2020
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Samsung mass-produces most-advanced DRAM with EUV process
Samsung Electronics began operating its second production line in Pyeongtaek, Gyeonggi Province, the world’s largest chip plant, to mass-produce the most advanced mobile DRAM modules, the firm said Sunday. The assembly line has produced the industry’s first advanced third-generation 10-nano level (1z) LPDDR5 mobile DRAM using the extreme ultraviolet, or EUV, process technology for the first time, according to the tech giant. Samsung said the 16-gigabyte mobile DRAM has the hi
Technology Aug. 30, 2020
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FTC fines Kumho Asiana W32b, reports chairman to prosecutors
South Korea’s antitrust watchdog has decided to impose a fine of 32 billion won ($27 million) on Kumho Asiana Group for unfair internal transactions that aimed at tightening family control over the conglomerate, officials said Thursday. The Fair Trade Commission also reported Chairman Park Sam-koo and two other executives to prosecutors. The FTC said Kumho Asiana Group used the in-flight meal business rights of its flagship affiliate Asiana Airlines to illegally fund struggling Kumho
Industry Aug. 27, 2020
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Real estate startups surge in H1 despite pandemic
New startups, particularly those in real estate, surged in the first half of this year despite the impact of the pandemic, data showed Thursday. According to the data released by the Ministry of SMEs and Startups, the number of new startups in the January-June period was 809,599, up 26 percent from the same period last year. The surge was attributed to new real estate businesses, which stood at 292,810 during the period, up 131.6 percent year-on-year. The real estate sector accounted for 36.
Mobility Aug. 27, 2020
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Posco International joins campaign to thank medical workers
Posco International said Wednesday its CEO Joo Si-bo and employees have joined the Thank You Challenge campaign to express gratitude to medical staff during the COVID-19 pandemic. The public campaign was launched by the Central Disaster Safety and Countermeasure Headquarters with the aim of encouraging medical workers struggling to prevent the spread of coronavirus. Anyone can participate in the campaign by posting a picture of sign language with gratitude on social media and naming the next p
Industry Aug. 26, 2020
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[News Focus] Struggling tire makers face bumpy road ahead
South Korea’s major tire makers -- Hankook Tire, Kumho Tire and Nexen Tire -- have been smacked with a triple whammy. Local automakers are increasingly adopting imported brand tires, while the US antidumping probe on Korean tires is raising uncertainty in the global market. Internally, they face family feuds and labor-management conflicts. In the second quarter, the three tire makers posted dismal earnings amid the economic slowdown due to the pandemic. Hankook Tire’s sales
Mobility Aug. 26, 2020
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Singapore’s antitrust agency approves KSOE-DSME merger
Singapore’s antitrust watchdog has approved the merger of the world’s two largest shipbuilders, Hyundai Heavy Industries confirmed Tuesday. The Competition and Consumer Commission of Singapore concluded the screening process by saying in a notice that “there is no disagreement about the approval of a tie-up between Korea Shipbuilding & Offshore Engineering and Daewoo Shipbuilding & Marine Engineering.” KSOE is a subholding company of HHI group’s shipbui
Mobility Aug. 25, 2020
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What makes SsangYong Rexton Sports timely choice
With the rising popularity of car camping in South Korea, the pickup truck market in the country has surged in recent years, up from around 22,000 vehicles sold in 2017 to 42,000 in 2018. The trend has only grown with the COVID-19 pandemic as more people are opting for outdoor and social-distancing activities that require larger storage and stronger off-road driving capacity. Leading the segment is SsangYong Motor’s Rexton Sports, which pioneered the Korean market for open-deck sports
Mobility Aug. 25, 2020
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Hyundai tops JD Power’s advanced tech survey
Hyundai Motor ranked first in satisfaction for high-tech automobiles in the US mass market, according to the latest survey of US research firm JD Power on Tuesday. Hyundai ranked highest in the mass-market segment with a score of 556, offering an above-average level of technologies and scoring well for excellence in execution. Subaru (541) ranked second, followed by Kia (538), Nissan (534) and Ram (520). In the luxury segment, Genesis (559) placed sixth. Volvo ranked highest overall with an
Mobility Aug. 25, 2020
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