Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Agriculture, forestry output inches up in 2013
Overall output by the country’s agriculture and forestry industries moved up slightly from a year earlier in 2013, with a rise in agriculture production more than offsetting a drop in the production of forestry goods, the government said Thursday.The combined output by the agriculture and forestry industry came to about 46.65 trillion won ($45.79 billion) in 2013, up 0.6 percent from that of 2012, according to the Ministry of Agriculture, Food and Rural Affairs.Such growth marks a significant sl
Industry Sept. 4, 2014
-
Industry, green groups slam emissions policies
Both industry and environmental groups have criticized the government’s latest road map for emissions reduction.The government said Tuesday that it would begin its carbon emissions trading scheme from next year as planned, but would delay the incentive system for low-emission cars by a few years. Under the government’s emissions reduction scheme, the low-carbon vehicle incentive system, which had initially been slated to go into effect in January 2015, will be put on hold until 2020, apparently
Industry Sept. 3, 2014
-
Korea to delay low-carbon car incentive plan
South Korea will delay implementing its low-carbon vehicle incentive system until 2020 to minimize the fallout for customers and the automobile industry, government policymakers said Tuesday.The announcement, reached at a meeting of economic ministers, indicated that while the government would avoid burdening carmakers and consumers, it would encourage people to buy green cars by offering various incentives.The move will help improve the average greenhouse gas emission mileage standard for the c
Industry Sept. 2, 2014
-
[Graphic News] Korea’s household debt continues to rise
South Korea’s household debt is increasing on account of the government’s latest push to boost the housing market and due to a rate cut, according to industry watchers. The total mortgage loans issued by the nation’s seven major banks rose to 301 trillion won ($296 billion) last month, marking a 4 trillion won increase from 297 trillion won in July, according to data from the banking sector. This was more than a twofold increase, compared to an average monthly increase of 1.6 trillion won since
Industry Sept. 1, 2014
-
Former Shindongbang Group chairman dies of caner
Shin Myung-soo. (Yonhap)Former Shindongbang Group chairman Shin Myung-soo, 73, died last Saturday from colorectal cancer. Shin was a well-known entrepreneur who contributed to the growth of South Korea’s food processing industry. He started his career at Shindongbang Corp. in 1967 and served as a chief executive of the company until 1999. Hit by the Asian currency crisis, the company faced financial difficulties and units of the company were merged into Sajo Haepyo in 1999 and CJ Group in 2002.B
Industry Aug. 31, 2014
-
[Herald Interview] ‘Security concerns should not delay mobile messenger payment’
The Korean government is advised to push for the growth of the mobile payment market, not to hold back on security concerns. “Too many concerns over security online may hamper the mobile massenger payment market in an infant stage of growth,” Kim Yeong-rin, president of the Financial Security Agency, told The Korea Herald in a recent interview.His remark came amid growing security concerns over the financial services to be offered by the nation’s most-used mobile messenger, Kakao Talk.Kim Yeong-
Industry Aug. 31, 2014
-
KDB helps finance high-tech start-ups
The state-run Korea Development Bank is actively promoting technology financing in a bid to keep up with the government’s latest efforts to boost high-tech start-ups that have trouble securing funds. Technology financing involves loans secured on a borrower’s technology. Despite South Korea’s reputation as an IT powerhouse, start-ups still find it difficult to raise capital. To provide better support, the Financial Services Commission, the local financial watchdog, announced a plan in April to s
Industry Aug. 28, 2014
-
Korea’s duty-free allowance raised to $600
The duty-free allowance for travelers entering South Korea will be raised to $600 from the current $400 on Sept. 5, the Ministry of Strategy and Finance said Wednesday. This is the first time that the ceiling has been raised since 1988. The government also plans to reduce taxes on travelers who voluntarily report items they are bringing in. They are expected to have a 30 percent tax deduction of up to 150,000 won ($147). However, those who report untruthfully will have to pay additional tax. The
Industry Aug. 27, 2014
-
[Herald Interview] Korea’s agricultural community revival movement goes global
South Korea’s iconic community development movement ― Saemaul Undong ― is to be expanded to developing countries in a joint effort with the International Fund for Agricultural Development, according to a top banker on Tuesday. “The global spread of the Saemaul Movement in partnership with the IFAD is very meaningful for South Korea, the only nation to have transformed into an aid donor from a recipient,” Seop Shim, senior executive director of Korea Eximbank, told The Korea Herald at the bank’s
Industry Aug. 26, 2014
-
Pro football governing body approves conglomerate Eland's proposal
The nation's governing body of professional football on Friday approved a proposal by a local business conglomerate to found a new club for next season.In its board meeting, the K League gave the green light to Eland to launch a new team to be based in Seoul. Eland, which operates about 250 affiliates in retail, apparels and food service, had first declared its intention to get into professional football in April.Eland will use the Jamsil Olympic Stadium in southern Seoul as its home base, a
Soccer Aug. 22, 2014
-
KEPCO to lay Korea-Japan undersea power grid
South Korea’s state-run utility giant Korea Electric Power Corp. is pushing ahead with an undersea power grid project between South Korea and Japan in an effort to export electricity to the neighboring country, according to a local media report on Friday. The project aims to connect South Korea’s second-largest metropolis of Busan via Tsushima (Daemado Island), a Japanese island situated between Korea and Japan, to Japan’s Kyushu Island, with a 200-kilometer undersea cable. A KEPCO official said
Industry Aug. 22, 2014
-
Defense ministry finds hacking attempts against its reporters
Unidentified hackers, suspected to be based in China, have been caught trying to steal data from media reporters covering South Korea's Ministry of National Defense, ministry officials said Friday."We've confirmed that a handful of reporters covering the ministry have received an e-mail which carries the malicious code this week," a ministry official said, explaining that once the email is opened, it automatically imbeds the virus code into the computer."The code embedded into the computer is me
Defense Aug. 22, 2014
-
Korea’s card spending at W50tr in July
South Korea’s card spending stood at around 50 trillion won ($48 billion) last month, up by 2.4 trillion won ― or 5.1 percent ― from the same period last year, according to the Credit Finance Association of Korea on Thursday. Though the spending rose, the on-year growth rate was still below the 7.2 percent recorded in July last year. The association said this was due to the nation’s prolonged economic downturn. “In recent months, consumers’ disposable income dropped because of rising apartment r
Aug. 21, 2014
-
Chinese tourists on track to spend W30tr in 2020
Chinese tourists are expected to spend over 30 trillion won ($29 billion) in the domestic market in 2020, according to industry data. According to a report published by Hana Daetoo Securities, the number of Chinese tourists in South Korea will reach 15 million by 2020 based on an annual average growth rate of 20 percent. They are predicted to spend around 30 trillion won in that year to record a five-fold increase from last year’s 6 trillion won. The 30-trillion-won figure corresponds to around
Industry Aug. 20, 2014
-
Lotte vice chief to meet Myanmar’s deputy minister
The Myanmarese economic deputy minister is expected to meet with Lotte Group’s vice chairman Lee In-won in early September when he visits here. The two are expected to discuss business opportunities centering on calls from Myanmar to Lotte to invest more in Myanmar’s food and hotel businesses, according to industry sources. Lee Jae-hyuk, chief executive of Lotte Chilsung Beverage, a unit of Lotte Group, will also reportedly accompany the Lotte vice chairman to the meeting. “We believe Myanmar’s
Industry Aug. 19, 2014
Most Popular
-
1
1 in 3 Koreans live alone, family types becoming diverse
-
2
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
3
US 'incredibly concerned' about suspected NK-Iran military ties
-
4
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
5
K-pop singer lost consciousness after being hit by foul ball, cancels show
-
6
Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
-
7
[Kim Seong-kon] Democracy and the future of South Korea
-
8
Yoon's office denies considering liberal figures for key posts
-
9
Why is Apple Pay struggling to get purchase in Korea?
-
10
Seoul says Fu Bao loan 'not going to happen'