Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
[Monitor] YouTube biggest source of fake news in Korea: report
YouTube is seen to be the biggest online platform through which misinformation and fake news is being spread in South Korea, according to a new survey. The latest “Digital News Report 2020” released by the UK-based Reuters Institute for the Study of Journalism noted that 31 percent of online news consumers surveyed picked YouTube were most concerned about the platform being used to spread false information. It was followed by Facebook (10 percent), KakaoTalk and other messenger se
Industry June 18, 2020
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GS chairman highlights innovation in line with external changes
GS Group Chairman Huh Tae-soo urged company executives Wednesday to pay more attention to new consumer trends, adding digital transformation based on mobile and artificial intelligence will become more active in the future. His remarks came at the GS executive forum held for the second time since he took the helm early this year. The forum was attended by around 30 senior executives from all affiliates. “The political, social and economic shocks and changes caused by the pandemic are
Industry June 17, 2020
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[Monitor] Housing price polarization deepens
Housing polarization is rapidly deepening in South Korea, with the price gap between high and low-priced apartments widening to the highest levels in 10 years, latest data showed. According to the monthly housing price trend released by Kookmin Bank, prices of low-cost apartments nationwide have fallen by 2.2 percent, or 2.5 million won ($2,069), while those of expensive apartments have risen by 15.5 percent, or more than 100 million won, over the past year. Compared to two years ago, the
Industry June 17, 2020
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Asiana to expand capital with additional shares, bonds
Asiana Airlines held an extraordinary shareholders meeting Monday, and voted to raise capital by increasing shares and issuing convertible bonds. The South Korean flag carrier put to a vote its decision to revise its articles of association, calling for an increase in the total number of issued shares and a higher limit on CBs. The amendment was passed with the approval of all shareholders present. With the shareholders’ approval, Asiana will increase the total number of its shares to 1
Mobility June 15, 2020
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DSME turns to tech to ensure distancing at shipbuilding site
Daewoo Shipbuilding & Marine Engineering said Monday it is applying domestically developed technologies at its shipbuilding sites to reduce person-to-person contact amid the coronavirus pandemic. The shipbuilder said it recently completed testing liquefied natural gas carriers by utilizing its own remote maintenance support system called DS4 AR Support. Its pilot tests were successful, which were done with engineers from overseas via an online application. This system combines au
Mobility June 15, 2020
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Coupang to pay W1m to each of its 2,600 quarantined temps
Coupang is set to pay 1 million won ($828) to each of its 2,600 temporary workers who have had to self-quarantine because of the COVID-19 pandemic. On Thursday, the country’s leading e-commerce operator issued an in-house notice from Representative Director Sam Ko, saying, “We thought we had weathered the crisis. But COVID-19 has started spreading again, mainly in the metropolitan areas.” He added, “This is not an easy battle.” Coupang has made various so
Industry June 12, 2020
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Will KAMCO buy cash-strapped Korean Air’s land?
With no companies bidding for the sale of Korean Air’s land in Songhyeon-dong, Seoul, the government unveiled plans to launch a corporate asset purchase program worth 2 trillion won ($1.6 billion), raising expectations that the carrier may have a new option. According to industry sources, there were no participants in the preliminary bidding for Korean Air’s land, which closed Wednesday. That outcome was deemed to have been influenced by the Seoul Metropolitan Government’s p
Industry June 12, 2020
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[Monitor] Disaster relief funds mostly used for dining out, shopping
The emergency disaster relief funds for citizens provided by the government to combat the impact of COVID-19 pandemic were mainly used for dining out and shopping while sales for opticians, hospitals and pharmacies grew the most last month, data showed. The Ministry of the Interior and Safety data, which analyzed the use of credit and debit cards for availing the emergency funds from May 11-31 by eight companies, including KB Kookmin, NongHyup, Lotte, BC, Samsung, Shinhan, Hana and Hyundai
Industry June 12, 2020
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KITA calls on US to exclude Korean transformers from probe
The Korea International Trade Association said Wednesday it has submitted an official opinion to the US Department of Commerce to exclude Korean electric transformers from its investigation on imported transformers and parts. According to the business association, the US launched an investigation into imported transformers and parts, viewing them as national security threats under Article 232 of the Trade Expansion Act. Imports make up around 85 percent of transformer and relevant parts supp
Industry June 10, 2020
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Korea prepares trade measures to support exporters: KITA
As the private and public sectors join hands to increase trade during the COVID-19 pandemic, South Korean exporters are expected to see wider access to trade financing, as well as increased cargo shipments and fast-track entry procedures for major trading partners. At the forefront of these efforts is the Korea International Trade Association, which recently surveyed 722 exporters to better understand their concerns and draw up policy suggestions for the government. According to the survey, c
Industry June 10, 2020
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LS Cable & System ramps up CSR activities amid pandemic
LS Cable & System is promoting activities with the local community near its workplace, focusing on areas such as recovery from COVID-19, “talent donations” from executives and employees and support for welfare organizations. The cable maker recently provided 100 million won ($83,451) to the food pack business in Sejong City. It is a project to provide food and household goods to the elderly living alone, children without parents and people on low-incomes, all groups that are ha
Industry June 9, 2020
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Ministry moves for stronger investigative right in tech infringement against SMEs
The Korean government will toughen probes into large firms infringing on the technologies of small and medium-sized enterprises, officials said Monday. For this, the Ministry of SMEs and Startups announced it will move to revise regulations related to companies’ technology infringements to reinforce the investigative power. Currently, authorities have to suspend an investigation on alleged technology infringement in certain cases, including when a business is temporarily closed or a
Industry June 8, 2020
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Samsung reiterates 2015 merger was ‘legitimate’
Samsung Electronics reiterated Sunday that the merger of its two key affiliates that was allegedly fast-tracked to allow Vice Chairman Lee Jae-yong to wrest control of the conglomerate was completely legitimate. The company said in a statement that the merger of Samsung C&T and Cheil Industries in 2015 took place legitimately, a day before a review of the arrest warrant for Lee. The statement that started with, “Samsung is in crisis,” said, “To overcome this crisis, man
Industry June 7, 2020
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LG International Corp., Hancom partner up for global market
LG International Corp. and local software maker Hancom Group have partnered for joint overseas expansion, the companies said Thursday. On the same day, LG International Corp. CEO Yoon Chun-sung and Hancom Group Chairman Kim Sang-chul signed a partnership agreement to jointly advance into the global market and to discuss ways to cooperate, LG International Corp. said. Under the agreement, LG International Corp. will carry out marketing to export various products and solutions of Hancom Grou
Industry June 4, 2020
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EU resumes HHI-DSME merger review, likely by September
The European Commission has resumed the screening of Hyundai Heavy Industries’ acquisition of Daewoo Shipbuilding & Marine Engineering after temporarily suspending the review amid the coronavirus pandemic, according to the commission on Thursday. The EC said the “provisional deadline” of the screening would be Sept. 3 -- a delay from the initial plan of July -- on its website. Two months earlier, the site had shown the deadline of the screening as “suspended”
Industry June 4, 2020
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