Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Antitrust watchdog fines HHI W970m for misappropriation
South Korea’s antitrust watchdog said Friday it has decided to impose a fine of 970 million won ($808,000) on Hyundai Heavy Industries for misappropriating technical data from a subcontractor. The Fair Trade Commission said HHI “forcibly obtained” the technical data of pistons for its diesel engine from a subcontractor. HHI had maintained a close partnership with the company for over two decades in its move to localize key components, the watchdog explained. It also did not
Industry July 26, 2020
-
Golden Blue renews scholarship partnership with Heriot-Watt University
South Korean liquor company Golden Blue said Friday it has renewed its agreement with Scotland-based Heriot-Watt University and held a scholarship ceremony for students selected for a blender promotion project. Golden Blue has conducted the project since 2016 to discover and foster brewing and distillation experts for the advancement of the Korean liquor industry. Every year, two students are selected to support their master’s degree in Heriot-Watt University. Founded in 1821, Heriot-
Industry July 24, 2020
-
New models defend further drop in Hyundai earnings
Korea’s largest automaker Hyundai Motor posted half of its operating profit in the second quarter from a year earlier. But the earnings still came above market expectations due to the launch of new models. Hyundai Motor’s operating profit fell 52 percent to 590 billion won ($493 million) and sales dropped 19 percent to 21.86 trillion won, according to the firm’s regulatory filings Thursday. Net profit fell 62 percent to 377 billion won. The automaker said, “The globa
Mobility July 23, 2020
-
LG International to support SMEs in global market
LG International said Wednesday it has been selected as a “decent company” by the Ministry of SMEs and Startups to support small and medium-sized companies advancing into global markets. The commodity trading and mining affiliate of LG Group signed an agreement with the Startups Ministry and the Korea International Trade Association in Seoul at a ceremony attended by CEO Yoon Chun-sung, Minister Park Young-sun and KITA Chairman Kim Young-ju. The “decent company” pr
Industry July 22, 2020
-
NPS invests more in bio, pharmaceutical in H2
The National Pension Service was found to have expanded their investment in bio and pharmaceuticals in the first half of this year in the wake of the pandemic, data showed Wednesday. Local corporate tracker CEOScore recently surveyed 302 listed companies that the NPS holds more than five percent stake in -- with the total value of their shares standing at 127 trillion won ($106 billion). The survey showed the NPS increased investment in non-face-to-face services, pharmaceuticals, bio techno
Industry July 22, 2020
-
[Monitor] Incheon Airport hit hard due to pandemic
Incheon International Airport was hit hard due to the prolonged outbreak of COVID-19, data showed Tuesday. The number of passengers at the airport from Jan. 1 to July 16 is about 10.89 million, according to the Incheon International Airport Corp. -- a sharp decline from 38.67 million in the same period last year. By Shin Ji-hye (shinjh@heraldcorp.com)
Industry July 22, 2020
-
LS Cable launches next-generation network product
LS Cable & System said Tuesday it has launched a local area network cable that can send data and power as far as 200 meters at the same time. The cable called SimpleWide is double the limits of current LAN cables in the market that can only transmit about 100 meters, the company said. LS C&S said SimpleWide is intended to be used mostly for connecting internet protocol cameras, phones, CCTVs and internet of things devices. No separate power cables and electrical outlets are required.
Industry July 21, 2020
-
Posco’s quarterly earnings plunge as steel demand falls
South Korea’s largest steelmaker Posco disclosed Tuesday that its sales declined by 15.9 percent on-year to 13.72 trillion won ($11.44 billion) with operating profit plunging 84.3 percent to 13.72 trillion won in the second quarter. “The sales volume of steel products and prices have fallen due to sluggish global demand and worsening market conditions caused by the coronavirus outbreak,” the company said. The firm’s other affiliates in the global infrastructure sector,
Industry July 21, 2020
-
Tesla Model 3 on hire in Seoul: SK Rent-a-Car
South Korea’s rental service firm SK Rent-a-Car said Monday it has launched a rental service for Tesla Model 3 at its 10 branches in Seoul and Gyeonggi Province “As demand for electric vehicles continues to increase, we have recently released new products of Tesla, the most favored EV of customers,” a company official said. A total of 21 Tesla Model 3 units will be offered as short-term rental cars. Customers can make reservations through the firm’s website or custome
Mobility July 20, 2020
-
LS family doles out W33b worth shares to children amid falling prices
The owner family of LS Group recently bequeathed about 33 billion won ($27 million) worth of shares to children and relatives, regulatory filings showed Monday. The move by the South Korean conglomerate came as stock prices of its affiliates have plunged in the wake of the COVID-19 pandemic, which allows them to pay lower gift taxes. Group Chairman Koo Ja-yeol, LS-Nikko Copper Chairman Koo Ja-hong, LS Cable & System Chairman Koo Ja-yub and heads of other units have given a total of 959,
Industry July 20, 2020
-
SsangYong reveals teaser of first EV E100
SsangYong Motor on Monday unveiled a teaser image of its first electric vehicle, which has been developed under the project name “E100.” The automaker’s new, electric subcompact sport utility vehicle is set to be released in the first half of next year. Prior to the launch of the new EV, the automaker released an image that graphically expresses its exterior design. The firm said the overall design is based on a streamlined line that reflects aerodynamics optimized for urban
Mobility July 20, 2020
-
[Monitor] Consumption rises during state-led sales festival
During the state-led sales festival, called the “Korea Donghaeng Sale,” aiming to boost consumption amid the pandemic, non-face-to-face sales of department stores and large discount stores were estimated at 25.94 billion won ($21.56 million), data showed Thursday. Between June 26 and July 12, sales at the nation’s major three department stores increased 4 percent on-year. Sales at the top three large discount stores decreased 1.4 percent on-year due to mandatory holidays. B
Industry July 20, 2020
-
[The Heirs (4)] Hurdles remain for second son in inheriting Hankook Technology Group
Despite public apathy and tougher shareholder censure, South Korea’s chaebol groups are preparing a generational shift in leadership. The Korea Herald looks at different conglomerates and succession scenarios. -- Ed. Hankook Technology Group, formerly known as Hankook Tire, was founded in 1941 and was South Korea’s largest and the world’s sixth-largest tire manufacturer by revenue as of 2019. The group operates major units including Hankook Tire & Technology, Hank
Mobility July 19, 2020
-
Hyundai Robotics, HEC to jointly develop construction robots
South Korea’s Hyundai Robotics said Friday it has joined hands with Hyundai Engineering & Construction to develop products for the construction sector. The two affiliates of Hyundai Heavy Industries Group have signed a memorandum of understanding to collaborate on research and development of construction robotics technologies. Under the agreement, they will jointly develop robots for construction sites, as well as mobile service robots and core technologies for autonomous driving
Industry July 17, 2020
-
Mercedes-Benz Korea unveils four high-performance models
Mercedes-Benz Korea said Thursday it is set to unveil, for the first time here, four new models under the premium high-performance brand Mercedes-AMG at the AMG Speedway in Yongin, Gyeonggi Province, Friday. “There has been a growing demand for high-performance vehicles, especially among younger customers. In order to address this demand, the AMG brand is introducing a variety of performance models including the first-ever engine family 35 along with the 45 and the 45 S models,”
Mobility July 16, 2020
Most Popular
-
1
President Yoon Suk Yeol defiant as impeachment momentum grows
-
2
Ruling party leader says impeachment against Yoon now only solution
-
3
Yoon’s martial law defense fans impeachment calls from his party
-
4
Cho Kuk sentenced 2 years, loses seat, shot at presidency
-
5
Full text of South Korean President Yoon Suk Yeol's address to the nation on Thursday
-
6
Assembly vote on Yoon Suk Yeol's impeachment set for 4 p.m. Saturday
-
7
Foreign spies and compromised election system: Yoon seeks to rally the right
-
8
Diverging exec shakeups: Samsung backs veterans; Hyundai rings changes
-
9
Opposition leader urges ruling party lawmakers to vote for Yoon Suk Yeol impeachment
-
10
Two Korean business leaders make Forbes list of 'most powerful women'