Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
KITA’s Startup Branch becomes mecca of innovative growth
The Korea International Trade Association’s open innovation venue Startup Branch is becoming a mecca for innovative growth among local and global firms. According to KITA, it has been 500 days since the venue opened. Startup Branch was set up at Coex in Samseong-dong, southern Seoul, in June last year to create a domestic startup ecosystem and encourage global scale-ups. Since that time, leading local and foreign companies and startups have visited the venue and held about 400 large-sca
Industry Oct. 20, 2020
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[Behind the Wheel] Will Chevrolet Colorado attract Korean adventure enthusiasts?
Pickup trucks, which often top the list of bestselling cars in the US, were not always so popular in the South Korean market. However, with the recent increase in the number of people enjoying outdoor activities such as camping, fishing and surfing, pickup trucks are being reevaluated by adventure seekers. The local pickup truck market, which used to be dominated by local brand SsangYong Motor, is now expanding with the entry of imported brands such as the Chevrolet Colorado and the Jeep Gl
Mobility Oct. 15, 2020
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Chung Euisun officially takes helm of Hyundai Motor Group
Chung Euisun became the official chairman of Hyundai Motor Group on Wednesday, seizing full control at a critical juncture when the manufacturing mammoth is positioning itself as a mobility solutions leader. The group said Hyundai Motor, Kia Motors and Hyundai Mobis had held an extraordinary board meeting in the morning and unanimously approved Chung’s appointment as chairman. His father -- outgoing Chairman Chung Mong-koo, under whose leadership Hyundai Motor Group has grown into the w
Mobility Oct. 14, 2020
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Hyundai heir Chung Euisun set to become group chairman
Hyundai Motor Group Executive Vice Chairman Chung Euisun is set to take the helm of the nation’s largest automaker through the group’s emergency board meeting on Wednesday morning, according to industry sources on Tuesday. This promotion is interpreted as reflecting growing concerns that a chairman should lead the group and has responsible management as the automobile industry has been suffering from the recent coronavirus. His father Chung Mong-koo, 82, who was hospitalized in J
Mobility Oct. 13, 2020
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Hyundai Motor breaks ground for open mobility innovation center in Singapore
Hyundai Motor Group said Tuesday it had begun the construction of its open mobility innovation center in Singapore. The automaker held an online groundbreaking ceremony for its new global lab called Hyundai Motor Group Innovation Center in Singapore, or HMGICS, at Hyundai-Kia Motors Namyang R&D Center and Jurong Town Hall in Jurong, in western Singapore. The ceremony was held online by connecting the venues in the two countries by video link in consideration of the COVID-19 situation. Th
Mobility Oct. 13, 2020
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Posco International supplies parts for Vietnam’s first EV
Posco International said Tuesday that it has won an order for electric vehicle parts from Vietnam’s automotive manufacturer VinFast in partnership with Korean parts firm Erae AMS. It is the first time for the trading company to supply auto parts to VinFast. Vinfast is Vietnam’s first automaker, with investment from Vietnamese conglomerate Vingroup. The halfshaft supplied to VinFast is a component that acts as a drive shaft in an electric vehicle. The product is to be supplied from
Industry Oct. 13, 2020
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Businesses oppose class action suits and punitive damages bills
The Federation of Korean Industries said Monday it submitted to the government its opposition to the introduction of punitive damages compensation and class action lawsuit systems. The opposition came as the government had announced an amendment to the Commercial Law last month to more precisely monitor conglomerates in the form of allowing class action suits, something that had not been legally allowed in the country before. The FKI estimated that if the government’s legislative notice
Industry Oct. 12, 2020
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Korea’s shipbuilding industry picks up thanks to Greece
On recent orders from Greek shipping companies, South Korea’s shipbuilding industry regained the No. 1 spot from China in the third quarter of this year, data showed Sunday. According to UK-based market research firm Clarksons Research, Greece placed orders for 18 ships worth 589,421 compensated gross tonnage from Korean shipbuilders this year, accounting for 20.7 percent of Korea’s total orders this year and making Greece the No. 1 source of its orders. During the same period,
Mobility Oct. 11, 2020
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[Behind the Wheel] Volvo S90 taps into Korea’s cutthroat executive car market
With the launch of the facelifted luxury sedan S90 in Korea, Swedish automaker Volvo has thrown down the gauntlet to the German automotive brands that dominate the nation’s executive car market. In the executive car market, or E-segment, Koreans are avid buyers of German brands, such as the Mercedes-Benz E-Class, BMW 5-Series and Audi A6. The three models have a combined 77 percent share in the nation’s luxury E-segment market. Volvo, which boasts strong sales in sport utility
Mobility Oct. 11, 2020
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[Eye Plus] Eulji-ro 4-ga turns into gallery at night
At nighttime, Euljiro 4-ga in Seoul, long a home to craftsmen and hardware shops, takes on a wholly different look from the day. Walking the streets in the area during the day, you can see a variety of small shops selling ironware, wood, tool supplies and household goods such as lighting and tiles, as well as craftsmen with decades of experience. The streets ring with the roar of machines, and various tools and tiles wait for customers. When night falls and the metal and acrylic shops pull
Culture Oct. 10, 2020
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Hyundai Mobis invests $25m in UK augmented reality head-up display provider
Hyundai Mobis said Wednesday it invested $25 million in Envisics, a UK-based augmented reality head-up display provider. The auto parts company has been making investments in autonomous driving and electrification over the last three years in response to the growing need for self-driving cars. The augmented reality head-up display, or AR HUD, is a next generation safety convenience feature that matches driving information with the road ahead in real-time and projects it onto the windshield. &
Mobility Oct. 7, 2020
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Posco International supports small-but-strong parts suppliers
Posco International said Wednesday it has supported local parts manufacturers struggling from the pandemic. The nation’s largest trading company said it recently provided 1 billion won ($861,000) in export growth funds to Hanmea Adm, a steel parts manufacturer that produces aluminum products to reduce car weight, in cooperation with the Export-Import Bank of Korea. The funding is the result of the firm’s business partnership with Eximbank and Seoul Guarantee Insurance in May to bu
Industry Oct. 7, 2020
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Hyundai Glovis enters Kazakhstan logistics market
Hyundai Glovis said Tuesday it set up a new branch in Kazakhstan and signed a seven-year transportation business deal with local beverage firm RG Brands, its first move to target the logistics market in Central Asia. RG Brands, established in 1994, ranks second in the local beverage market. Under the partnership, Hyundai Glovis is set to carry out transportation business in Nur-Sultan, capital of Kazakhstan, and major cities such as Almaty and Shymkent. Its main task is to deliver produc
Mobility Oct. 6, 2020
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LS Cable & System completes 5G parts factory in India
LS Cable & System said Tuesday it completed construction of its second telecommunications plant in India and has doubled production capacity of communications parts. LS Cable plans to foster LS Cable & System India, or LSCI, as a specialized production base for communications harness to respond to India’s rapidly growing domestic market and target overseas markets such as Europe and North America. A communications harness is a cable component that connects mobile communications
Industry Oct. 6, 2020
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SK Chairman to hold meeting with CEOs on Jeju Island
SK Group Chairman Chey Tae-won will hold his first face-to-face meeting with group management since the pandemic this month. According to industry sources, Chey and CEOs of SK Group’s major affiliates will gather on Jeju Island to hold its annual meeting CEO seminar and to discuss next year’s management strategies. SK Group said it has not yet finalized a schedule for the annual event. Every year, the meeting has been attended by Chey and his family members, including Senior Vice
Industry Oct. 5, 2020
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