Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Moon’s new policy aide vows to promote fair economy, income-driven policy
President Moon Jae-in’s new secretary for policy, who earned the nickname “chaebol sniper” for his decadelong shareholder activism, vowed to keep his stance of promoting income-led growth, innovation and a fair economy. At a farewell meeting as chief of Fair Trade Commission, Kim Sang-jo told reporters he is open to dialogue with conglomerate chiefs while drawing a clear line saying that incumbent Finance Minister Hong Nam-ki will keep his role as control tower on economic poli
Industry June 23, 2019
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Daesung hosts microbes forum to promote bio-economy
South Korean energy conglomerate Daesung Group hosted its third annual forum on microbes Thursday in Seoul, with the theme “Lab to Industry for Bioeconomy.” Attended by around 150 participants, the 2019 Daesung Haegang Microbes Forum offered a venue for academia and the private sector to discuss the latest trends in clean energy and environment technologies using microorganisms, as well as to seek ways to bring them into the market. The highlight of the forum was the utilization and
Industry June 20, 2019
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South Korea to map out AI strategy this year, build 2,000 AI-based factories by 2030
South Korea announced its vision to create a “manufacturing renaissance” over a number of industries, viewing manufacturing as the nation’s economic foundation and a way of creating high-quality jobs and innovative growth. “The government has mapped out strategies for the nation to become an innovative manufacturing powerhouse over the next decade by being away from ‘quantitative and market follower strategies,’” a spokesperson for the Ministry of Trade,
Economy June 19, 2019
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Kepco selected as preferred bidder for 200 MW Guam power plant
State-run Korea Electric Power Corp. said Wednesday it has been selected as a preferred bidder for a Guam power plant by the Guam Power Authority. If the deal is sealed, Kepco will build and operate a 200-megawatt Guam power plant in Dededo, northern Guam. Hyundai Engineering will also join the project to build the power plant. The project will be carried out in the form of build-operate-transfer project financing. Kepco will be able to sell power produced in the region over the next 25 yea
Industry June 19, 2019
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KEA shares energy efficiency know-how with South Asian nations
State-run Korea Energy Agency has opened a knowledge-sharing program with the World Bank, inviting officials from South Asia to Seoul, the government agency said Tuesday. The KEA began the third WB-KEA energy efficiency knowledge-sharing program hosted by the World Bank, inviting officials from Sri Lanka and Bangladesh. The five-day training program aims to share Korea’s energy policies and experience. With the topic of energy efficiency system for buildings, Korea is sharing green bu
Industry June 18, 2019
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Korea’s nuclear reactor technologies allegedly leaked to UAE, US
The South Korean government is reportedly looking into allegations of leaks of key nuclear reactor technologies to other countries. According to multiple local news reports Tuesday, the Nuclear Safety and Security Commission and the National Intelligence Service are verifying the authenticity of a tipoff delivered to the NSSC through a nuclear safety ombudsman system. Based on the tipoff, one retiree from state-run nuclear operator Korea Hydro & Nuclear Power has allegedly leaked &ldquo
Industry June 18, 2019
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Forum to discuss future of forestry, challenges in APAC
South Korea is hosting events on forestry in the Asia-Pacific region this week for academia, governments and the private sector to discuss and share views on pressing challenges in the sector.The Asia-Pacific Forestry Week 2019 and the 28th Session of the Asia-Pacific Forestry Commission kicked off Monday at the Songdo Convensia Convention Center in Incheon. The five-day event is jointly organized by the Korea Forest Service and the Food and Agriculture Organization of the United Nations. I
Industry June 16, 2019
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Korea, Norway to cooperate on hydrogen, shipbuilding
South Korea and Norway have agreed to strengthen ties in hydrogen energy and shipbuilding areas with the summit between the two countries’ heads of state serving as an opportunity to pursue future partnerships. During President Moon Jae-in’s visit to Norway on Thursday, the two nations signed a memorandum of understanding to cooperate in hydrogen energy to make the most of Korea’s strength in hydrogen-powered vehicles and Norway’s in production and supply capabilities.Wit
Industry June 13, 2019
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S-Oil appoints Hussain Al-Qahtani new CEO
South Korean oil refiner S-Oil appointed Hussain A. Al-Qahtani as new CEO during its general shareholders meeting, the firm said Thursday. Before joining the firm, Al-Qahtani, 52, served as president and CEO of Saudi Aramco Shell Refinery Company from 2016. Throughout his 29-year career at Saudi Aramco, Al-Qahtani has assumed key roles in production, engineering and projects building expertise and leadership skills, according to the firm. The new Saudi Arabian CEO majored in chemical engine
Industry June 13, 2019
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SK Innovation to support social ventures through crowdfunding
South Korean oil and chemical company SK Innovation plans to support local social ventures through crowdfunding, the firm said Wednesday.A social venture is a firm that focuses more on addressing social problems and less on profit. Selected social ventures will be supported by SK Innovation employees through crowdfunding. Each employee can voluntarily invest up to 1 million won ($846) in the social ventures. For every 1 million won raised, SK will match the investment. Profits will later be
Industry June 12, 2019
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Panel blames electric shock, poor management system for ESS fires, not companies
Ending a five-month-long probe into energy storage systems that caught fire, the South Korean government blamed defects in devices, poor management and systems, without holding companies accountable for the fires.On Tuesday, a private-public joint committee, formed in January to look into the series of fires, announced the results of the probe, saying multiple factors played a role in the 23 fires that occurred over the past year. It highlighted four factors: a lack of battery protective systems
Industry June 11, 2019
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Hyundai Motor, Rotem to develop hydrogen-powered tram by 2020
South Korea’s largest automaker, Hyundai Motor, and its locomotive arm, Hyundai Rotem, are slated to develop a hydrogen-powered tram by 2020, which will be the first of its kind in the nation. On Monday, Hyundai Rotem said the two companies had agreed to cooperate on developing a train powered by hydrogen. Hyundai Motor plans to deploy hydrogen fuel cell stacks on trains developed and manufactured by Hyundai Rotem, which will also build the system interface to be installed between train ca
Industry June 10, 2019
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Posco to invest W20b in smart factories for SMEs
South Korea’s largest steelmaker Posco plans to support small steel companies to build their smart factories, investing 20 billion won ($16.9 million) over the next five years, according to the company on Sunday. A total of 30 billion won in investment -- including 10 billion won from the Ministry of SMEs and Startups -- will be injected to help around 500 selected companies, Posco said. Through the project, companies willing to build smart factories will be provided with up to 100 m
Industry June 9, 2019
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Steel industry beset by tougher environmental regulations
South Korea’s increasingly stringent environmental regulations are hobbling its steel industry, already beset by falling sales and rising raw material prices. Last week, three regional governments representing South Chungcheong Province, North Gyeongsang Province and South Jeolla Province insisted that local steel companies Posco and Hyundai Steel halt their steel mills for 10 days over violations of the Clean Air Conservation Act. The provincial governments said Posco’s steel
Industry June 9, 2019
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[Herald Interview] 'Robots can not replace human workforce, at least not now'
Will robots replace human workforce?That is a question constantly raised with the advancement of new technologies that make robots smarter and more autonomous. That is, however, “undue concern,” says the chief of South Korea’s state-run robot institute, who has been in the industry for more than 30 years. “Technological developments to make a human-like robot is still in the early stages worldwide,” Korea Institute for Robot Industry Advancement President Moon Jeon-
Industry June 6, 2019
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