Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
[ASEAN-Korea summit] Jim Rogers foresees bright, exciting future for S. Korea
Renowned American businessman and financial commentator Jim Rogers, chairman of Rogers Holdings, said Monday that the Korean Peninsula will become very appealing in the next couple of decades, while the ASEAN region will also emerge as a hot market for investments. He was speaking at a business forum of the ASEAN-ROK CEO Summit under the theme of “Collaboration and Tasks toward ASEAN-ROK Co-prosperity.” “The opening up (and unification) of the Korean Peninsula will combine Nort
Industry Nov. 25, 2019
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[ASEAN-Korea Summit] Korea, ASEAN to partner on smart cities at ministerial level
BUSAN -- South Korea and the 10 member states of ASEAN agreed to form a consultative body at the ministerial level for sustainable cooperation in the smart city sector at a meeting on the sidelines of the ASEAN-ROK Commemorative Summit, officials said Monday. The ASEAN-ROK Ministerial Meeting on Smart City took place Monday, hosted by the Ministry of Land, Infrastructure, and Transport and the Presidential Committee on New Southern Policy. It was attended by ASEAN Secretary-General Dato Lim Jock
Industry Nov. 25, 2019
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[ASEAN-Korea summit] South Korea seeks to host 2030 World Expo in Busan
South Korea aims to host the 2030 World Expo in Busan, boasting its advanced infrastructure, prominent tourist attractions and know-how in international events, officials said Friday. The World Expo, which takes place for six months every five years, is one of the world’s three largest events, including the Olympics and soccer’s World Cup. If Korea is successful in attracting a World Expo, the nation plans to host the international event in Busan’s North Port area from May to N
Industry Nov. 24, 2019
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[ASEAN-Korea summit] South Korea forges close ties with Southeast Asia amid ‘fourth industrial revolution’
South Korea is building stronger ties with the young and fast-growing economies of Southeast Asia in hopes of creating opportunities and seeking a breakthrough in a world facing new challenges amid the “fourth industrial revolution.”The Association of Southeast Asian Nations is emerging as a new growth engine of global consumer markets and production bases with enormous potential. The world’s youngest and most dynamic economic community has a combined population of 650 million
Industry Nov. 24, 2019
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FTC reviews legal actions against Mirae Asset owner family for alleged profiteering
South Korea’s antitrust watchdog is likely to press a charge against Mirae Asset Financial Group over allegations that the controlling family of the financial empire has been illegally benefitted from suspicious intra-trading deals, the authorities confirmed on Wednesday. Ending a two-year investigation, the Fair Trade Commission said it has recently sent a review report to the group, stating that Chairman Park Hyeon-joo and his family made financial gains through Mirae Asset Consulting, a
Industry Nov. 20, 2019
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[News Focus] Trade disputes between Korea and Japan show no sign of abating
Escalating trade tension between South Korea and Japan shows no sign of abating as two rounds of bilateral talks to resolve disputes triggered by Japan’s export curbs could not reach common ground. On Tuesday, the two neighboring nations held the second round of talks at the World Trade Organization in Geneva after failing to reach a consensus at the first consultations on Oct. 11. “During two rounds of six-hour intensive consultations, the two nations became more aware of each other
Industry Nov. 20, 2019
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HHI Group appoints Kwon Oh-gap as new chairman
Hyundai Heavy Industries Group has appointed Vice Chairman Kwon Oh-gap as the group’s new chairman, according to the firm on Tuesday. The new leader, who joined Hyundai Heavy in 1978, served as director of the firm’s London and Seoul branches and president of Hyundai Heavy Industries Sports. Kwon was the first president of the group’s refinery unit Hyundai Oilbank in 2010. He was recognized for his management ability by growing the company’s operating profit of 130 b
Industry Nov. 19, 2019
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Posco, Kiswel demonstrate advanced welding solution at Fabtech 2019
South Korea’s largest steelmaker said Tuesday it had demonstrated a welding solution jointly developed with its client Kiswel at North America’s largest metal-forming event. At Fabtech 2019 in Chicago last week, Posco and Kiswel promoted their welding materials and welding technologies suitable for high-strength steel for automobiles and construction as well as cryogenic steel for liquefied natural gas storage tanks and marine structures. Fabtech is North America’s larges
Industry Nov. 19, 2019
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FTC sets up special team to probe Naver, Google
South Korea’s antitrust watchdog is set to investigate unfair business practices by dominant tech firms -- both local and foreign -- through a new special task force team, according to officials Tuesday.The nation’s largest search engine firm Naver is likely to become the first target, they noted. Led by Fair Trade Commission Secretary-General Chae Kyu-ha, the 15-member team will examine separate categories -- online platforms, mobile services and intellectual property rights. The on
Industry Nov. 19, 2019
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S. Korea sees lowest trade deficit with Japan in 16 years
Amid growing trade tensions between the two neighboring nations, South Korea’s trade deficit with Japan is expected to hit the lowest level in 16 years, according to government data. In the January-October period this year, Korea’s trade deficit with Japan stood at $16.3 billion, down 20 percent on-year, the smallest deficit with the neighboring nation since 2003, according to the Industry Ministry. Korea’s exports to Japan amounted to $23 billion, down 6.5 percent from a year
Industry Nov. 18, 2019
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‘Multilateral trade system on the cusp of major change’
The global trade paradigm is shifting with the multilateral trade system supported by the World Trade Organization about to be replaced by a new system involving overlapping trade deals of regions and sectors, according to a new report of the Korea International Trade Association on Sunday.“The multilateral trade system -- in which 164 countries follow a unified trade order through the WTO -- has steadily been weakening,” said Je Hyun-jung, a senior researcher at KITA. “If
Industry Nov. 17, 2019
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US trade body likely to rule against Hanwha Q Cells in patent case; panel maker to ‘appeal immediately’
South Korean solar panel manufacturer Hanwha Q Cells received a preliminary notice from the US International Trade Commission indicating that the US body regards as unfounded the company’s patent infringement complaints against other foreign solar energy companies, the firm confirmed Friday. The USITC is set to announce an official ruling in about two weeks. Hanwha said it would “appeal immediately” if the decision were to be finalized. The reasoning behind the USITC’s pr
Industry Nov. 15, 2019
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[News Focus] Concerns mount over 52-hour workweek at SMEs
Pressure is mounting on the Moon Jae-in administration and the National Assembly to tweak the mandatory 52-hour workweek regulation for companies, especially by small and medium-sized companies which are “not yet ready” to embrace it. From January next year, companies with less than 300 employees will have to abide by the new workweek regulation. Large firms with more than 300 workers have been following the rule since July 2018. If a company violates it, the employer can face up to
Industry Nov. 14, 2019
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Hyundai Heavy requests EU approval for DSME merger
Hyundai Heavy Industries submitted a request for formal approval from the European Union for its merger with Daewoo Shipbuilding & Marine Engineering, HHI said Wednesday. The EU, which is believed to hold the key to the merger, plans to complete the first round of screening results next month. Hyundai Heavy said, “We are faithfully explaining to competition authorities in line with the review schedule and process of each country. We will do our best to ensure that the tie-up proce
Industry Nov. 13, 2019
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South Korea embarks on large-scale oil hub project in Ulsan
South Korea is accelerating its oil hub project aimed at making Ulsan and Yeosu the center of petroleum trading in Northeast Asia, officials said Wednesday. The oil hub project in Northeast Asia began in 2008 to build large-scale commercial oil and gas storage facilities in the two cities. It seeks to make the regions a hub for the convergence of petroleum logistics, trading and finance in Northeast Asia as well as to enhance the nation’s energy security in the event of an international oi
Industry Nov. 13, 2019
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