Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Vickers Venture plans to invest in high-tech Korean startups
Vickers Venture Partners is looking to invest in promising Korean startups, eyeing the market as a hot spot for innovation, according to a top executive of the Singapore-based firm.The largest venture capital firm in Southeast Asia, with around $1 billion in assets under management, invests in areas including information technology, real estate, platform and consumer goods. It hosted a networking event last week with seven other Southeast Asian VCs and some Korean startups in Seoul to look for i
Industry Nov. 11, 2019
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[News Focus] Will Samsung, Hyundai have to pay digital tax overseas?
Top-tier South Korean firms such as Samsung Electronics, LG Electronics and Hyundai Motor may have to pay corporate taxes overseas due to the growing worldwide debate on digital tax, raising concerns about its economic impact here, according to experts. According to the Finance Ministry, a debate is underway in the Organization for Economic Cooperation and Development to apply digital tax -- in the form of corporate tax -- on manufacturing companies selling consumer goods, such as smartphones, h
Industry Nov. 10, 2019
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World Aviation Conference held in Incheon for sustainable aviation industry
The fourth World Aviation Conference was held in Incheon this week, bringing together global aviation experts to share current issues and the future of the global airport and aviation industry, according to the Incheon International Airport Corp. on Thursday.The annual conference hosted by IIAC has been taking place since 2016 to provide a venue for relevant international organizations, academia and industry to discuss diverse issues of the aviation industry.At this year’s forum held from
Industry Nov. 7, 2019
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Hyosung expands biz outreach to Mexico
Hyosung Chairman Cho Hyun-joon met with Mexico’s President Andres Manuel Lopez Obrador on Wednesday to discuss business cooperation, including a rural automated teller machine project, which is the core welfare policy of the administration, the Korean firm said Thursday. The meeting held at the National Palace of Mexico comes after Hyosung’s information technology affiliate, Hyosung TNS, was awarded a contract from the Mexican government for 8,000 ATMs worth 203 billion won ($175 mil
Industry Nov. 7, 2019
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[News Focus] What RCEP deal means to South Korea
The trade megadeal among 15 Asia-Pacific countries can be expected to provide South Korean exporters with new opportunities to enter fast-growing and promising markets in Southeast Asia and lay the foundation for a future trade bloc consisting of Korea, Japan and China, according to experts. After seven years of negotiations, the leaders of 15 nations reached agreement on Monday on all 20 chapters of the Regional Comprehensive Economic Partnership and expressed their willingness to sign it in 20
Industry Nov. 5, 2019
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15 countries, including Korea, to sign trade megadeal
Leaders from 15 Asia-Pacific countries, including South Korea, China, Japan, Australia and New Zealand, declared that they had reached agreement on all 20 chapters of a trade megadeal and expressed their willingness to sign it in 2020, officials said Monday. Called the Regional Comprehensive Economic Partnership, it is in essence a massive regional trade deal among the 10 members of the Association of Southeast Asian Nations and the six countries with which ASEAN has free trade agreements -
Industry Nov. 4, 2019
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46 foreign companies receive government awards for investment
Forty-six foreign companies received government awards for their investments in advanced technologies and for creating jobs in South Korea, during an annual event for foreign companies held Monday. Foreign Company Day, hosted by the Industry Ministry and the Korea Foreign Company Association, or FORCA, is a ceremony that has taken place since 2001 to recognize contributions to attracting foreign investment here. The 46 awardees include the Korean arm of US-based firm Air Products and Chemi
Industry Nov. 4, 2019
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South Korea’s exports decline for 11 straight months
South Korea’s exports have declined for the 11th consecutive month due mainly to a slowdown in demand for chips and the weak global economy, data showed Friday. According to the Trade Ministry, the nation’s exports stood at $46.7 billion last month, down 14.7 percent on-year, the biggest decline this year. Exports have fallen since December last year, and the decline has been double-digit for five months since June this year. By product, exports of chips shrank 32.1 percent, whi
Industry Nov. 1, 2019
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Korea to shorten travel time with underground roads, high-speed trains by 2030
South Korea is seeking to reduce travel time in heavily congested metropolitan areas by building deep underground roads and adding new high-speed train services by 2030, officials said Thursday.The Ministry of Land, Infrastructure and Transport announced its vision for “metropolitan transportation 2030,” presenting three goals: to shorten travel time in major regional hubs to 30 minutes, cut down travel costs by up to 30 percent, and reduce by 30 percent the time people spend transfe
Industry Oct. 31, 2019
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South Korea embarks on ambitious autonomous ship project
South Korea has embarked on an autonomous ship project by investing 160 billion won ($130 million), seeking to boost the domestic eco-friendly and smart shipping industry and achieve a 50 percent global market share by 2030.The Industry Ministry and the Oceans Ministry announced Wednesday that the project they are jointly pursing has passed the preliminary feasibility studies.The project aims to develop key technologies related to autonomous navigation and system autonomy while laying the founda
Industry Oct. 30, 2019
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HHI-DSME merger gets approval in Kazakhstan
Kazakhstan’s competition authority has recently notified its approval of the merger between the world’s two largest shipbuilders, said Hyundai Heavy Industries on Tuesday. According to HHI, the Kazakhstan government approved the tie-up with Daewoo Shipbuilding & Marine Engineering after comprehensively reviewing the definition of related markets and evaluating competition limitations.This is the first approval for the tie-up as the plan is currently undergoing a review in five ot
Industry Oct. 29, 2019
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South Korea’s top 1,000 firms spent W50tr on R&D last year
South Korea’s largest companies, including Samsung, Hyundai and LG, spent more on research and development and earned more in 2018 compared to the previous year, despite growing concerns about the slowing global economy, according to a local public institute on Monday. According to a new report released by the Korea Institute for Advancement of Technology under the Industry Ministry, the combined investment on research and development of 1,000 companies amounted to 49.7 trillion won ($42.5
Industry Oct. 28, 2019
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FTC probes Subway for power abuse allegations
South Korea’s antitrust watchdog is probing the US franchise Subway over an allegation that it forced a local franchisee to shut down his shop without a proper reason, said officials and local news reports Sunday. The Fair Trade Commission’s Seoul office recently concluded in its preliminary investigation that the American franchise might have violated the local franchise business law and filed the case to an in-house judging committee.The probe began as one store owner of Subway cha
Industry Oct. 27, 2019
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South Korea’s exports to turn around in 2020 Q1: report
South Korea’s declining exports are predicted to turn around in the first quarter of next year on the back of rising demand for chips and recovery in the global economy, a trade association said Sunday. “The nation’s exports are expected to bottom out this month and turn positive from the first quarter of next year due to the recovery in chip unit prices,” said Moon Byung-ki, a senior researcher at the Korea International Trade Association’s trend analysis division,
Industry Oct. 27, 2019
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Korean businesses eyeing Turkmenistan market
The Korea International Trade Association held the first Korea-Turkmenistan business council with the Turkmenistan Chamber of Commerce on Thursday in Seoul as a follow-up to the summit between the two nations held in April. The council was held to discuss how Korean companies can enter into promising fields in Turkmenistan such as energy, transportation, water environment and industries, including textiles, information and communications technology and shipbuilding, KITA said. The plenary s
Industry Oct. 24, 2019
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