Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
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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South Korea hosts renewable energy conference
South Korea is hosting an international renewable energy conference this week to discuss the global climate crisis and measures to expand renewable energy use with around 3,500 participants from 108 nations. The International Renewable Energy Conference, which kicked off Wednesday in Seoul, is a biannual energy forum. The three-day event is being attended by government officials from 59 countries, including the US, Germany and China, international organizations, including the International Renew
Industry Oct. 23, 2019
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FTC chief warns conglomerates of unfair intra-trading deals
South Korea’s top antitrust regulator warned Tuesday that unfair intra-trading deals would be closely monitored to see whether they benefit owner families of conglomerates, during a morning meeting attended by company executives, including from Samsung and Hyundai. “The Fair Trade Commission does not currently impose any specific sanctions or directly intervene in the operations of conglomerates for their high economic concentration or influence of owner families on the entire group
Industry Oct. 22, 2019
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South Korea’s ICT exports skid for 11th month
South Korea’s information communications technology exports have declined for 11 straight months due mainly to a slowdown in demand for memory chips, data showed on Monday. According to the Trade Ministry, Korea’s ICT exports stood at $15.8 billion in September, down 22 percent from the same period last year. The on-year decline has continued for 11 consecutive months since November last year. The shipment of chips last month stood at $8.5 billion, a 31.5 percent drop on-year. D
Industry Oct. 21, 2019
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[From the Scene] Hanwha automation boosts solar efficiency
JINCHEON, North Chungcheong Province -- At Hanwha Q Cells’ factory in Jincheon, North Chungcheong Province, there are hardly any workers. The five assembly lines -- 330 meters wide and 100 meters long -- are run by eight workers each. The high-quality solar cell and module manufacturer claims it is one of the most automated factories in the global industry. “Automation is important. When an employee touches cells or modules, fingerprints or microcracks can be left on the produc
Industry Oct. 16, 2019
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[Photo News] Foreign Company Day
FOREIGN COMPANY DAY -- Winners pose for a photo on 2018 Foreign Company Day in Seoul on Nov. 5, 2018. This year on Nov. 4, the Ministry of Trade, Industry and Energy is hosting 2019 Foreign Company Day at Grand InterContinental Seoul Parnas. Organized by the Korea Foreign Company Association, the annual event is held to acknowledge foreign-invested companies and related organizations that have contributed to the domestic economy. (FORCA)
Industry Oct. 15, 2019
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SK Global Chemical to purchase Arkema’s functional polyolefins business
SK Global Chemical is set to acquire French chemical firm Arkema’s functional polyolefins business, in the latest move to boost its packaging business, the firm said Tuesday. The acquisition, worth 335 million euros ($369 million), is expected to be finalized by the second quarter of next year. The proposed deal is currently under review by antitrust authorities.“This will give SK Global Chemical the competitive edge in American and European markets, where packaging industries are hi
Industry Oct. 15, 2019
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Samsung SDI to spend W200b on ESS safety measure
Samsung SDI said it planned to adopt a special extinguishing system for its energy storage systems to prevent fires at a cost of about 200 billion won ($169 million), the firm said Monday. The special extinguishing system comprised of advanced chemicals and blockers of thermal diffusion can prevent fires from spreading to nearby cells even if a cell ignites, according to the battery maker. The company plans to apply the system to all of its new energy storage systems and also to the existing one
Industry Oct. 14, 2019
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Hanwha showcases defense technologies at US’ largest land power expo
Hanwha Group’s defense units will showcase their latest technologies at North America’s largest land-power exposition in Washington this week, the company said Sunday. Hanwha Corp., Hanwha Defense and Hanwha Systems will share a booth at the 2019 Annual Meeting and Exposition of the Association of the US Army, which takes place from Monday to Wednesday, local time. In its ground system zone, Hanwha will present its newest technologies, such as the Redback armored car, which was
Industry Oct. 13, 2019
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[KH Biz Forum] Companies need to focus more on masses in hyperdemocracy: Levick
In the age of social media, where information spreads fast, companies need to rethink their risk management strategies by focusing more on the masses, said an American crisis management expert during a forum held by The Korea Herald on Friday. “We are living in a revolutionary period. We always talk about hardware and software, but this is not a technology revolution. This is an information revolution,” said Richard Levick of the Washington-based crisis management firm LEVICK during
Industry Oct. 11, 2019
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KITA chief to visit US to expand economic partnership
Korea International Trade Association said Thursday its Chairman Kim Young-ju is slated to visit the US next week to expand economic and trade cooperation. He will be accompanied by executives of eight Korean companies, including Samsung Electronics, Hyundai Motor, Posco and Hyosung during his four-day visit starting Monday. Kim will meet with Kelly Ann Shaw, Trump’s special assistant and senior director for international trade, to highlight the importance of the two nations as a secu
Industry Oct. 10, 2019
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Korea, Japan to discuss export controls at WTO on Friday
South Korea and Japan are slated to have bilateral consultations in Geneva on Friday, a first step toward resolving a trade dispute triggered by Japan’s export restrictions, officials said Thursday.Since Sept. 20, when Tokyo responded to Seoul’s request for bilateral consultations in accordance with the World Trade Organization’s rules, the two countries have discussed details such as dates and times through diplomatic channels and decided to send director-level representatives
Industry Oct. 10, 2019
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