Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
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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KITA holds Korea-Germany tech conference
The Korea International Trade Association on Tuesday held a seminar on technological cooperation between Germany and Korea to explore ways to improve the competitiveness of the materials, parts and equipment industries, in response to growing uncertainty in the global trade market. Over 150 participants from Korean and German companies and research organizations joined the event to seek breakthroughs through supply chain diversification and technology exchanges amid an uncertain trade market due
Industry Oct. 8, 2019
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HHI-DSME merger faces growing opposition from workers
Hyundai Heavy Industries has been grappling with growing opposition from workers against a merger with Daewoo Shipbuilding & Marine Engineering. In March, HHI signed a formal deal, worth an estimated 2 trillion won ($1.7 billion), with the state-run Korea Development Bank to buy its smaller rival DSME. The deal will be completed when the world’s two largest shipbuilders get approval from antitrust watchdogs in Japan, China, Kazakhstan and the European Union. The authorities will r
Industry Oct. 6, 2019
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Lotte was No. 1 violator of FTC sanctions between 2014 and 2018
Over the past five years, Lotte Group was the South Korean conglomerate that received the highest number of sanctions from the nation’s antitrust watchdog, data showed Friday. According to the data supplied by Rep. Chun Hae-chul of the ruling Democratic Party of Korea, the Fair Trade Commission sanctioned Lotte on 81 occasions between 2014 and 2018. The group that received the next-greatest number of sanctions was Hyundai Motor Group with 76, followed by Kolon Group with 63, SK Group with
Industry Oct. 4, 2019
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Debts of public institutions under Trade Ministry rise to W182tr
Public institutions affiliated with the Ministry of Trade, Industry and Energy have not recovered financially from past failures of overseas resource development projects, data showed Thursday.According to data supplied by Rep. Wi Seong-gon of the ruling Democratic Party of Korea, the combined debt of 41 ministry-affiliated public institutions stood at 182 trillion won ($150 billion) last year, up 8 trillion won from the previous year. “The debt of the public organizations has grown
Industry Oct. 3, 2019
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Posco crosses crude steel output milestone
South Korean steelmaker Posco said Thursday it has hit the 1-billion ton milestone of crude steel production since 1973, amid intensifying oversupply globally. The volume is equivalent to the material needed to produce 1 billion midsized cars or 20,000 units of Lotte Tower, the nation’s tallest skyscraper in Seoul.Posco began producing the first molten metal at its blast furnace in 1973. It produced 1 million tons of crude steel, supplied steel for 25,000 cars and provided 12,000 compensat
Industry Oct. 3, 2019
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LS Cable & System disaster safety products certified
LS Cable & System has received government certification for its national disaster safety products, becoming the first cable manufacturer to gain this recognition, the firm said Tuesday. The certified products are fireproof, and they emit less smoke and lower levels of toxic gas during a fire, according to the company. In the event of a fire, the company explained, durability is crucial for emergency lights, fire alarms, sprinklers, ventilators and evacuation facilities. The company&rsqu
Industry Oct. 1, 2019
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S. Korea urges Japan to resolve trade dispute
South Korea on Tuesday once again urged Japan to resolve their trade dispute through consultations in accordance with the World Trade Organization regulations, according to government officials. Japan unilaterally announced its decision to impose tighter export controls against Korea three months ago. On July 4, it tightened export controls for three high-tech materials: fluorinated polyimide, photoresist and hydrogen fluoride.“The export restrictions are still in place. The number of expo
Industry Oct. 1, 2019
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South Korea strengthening taxation of YouTubers
The government is moving to strengthen taxation of high-income influencers and content creators on social networking services, including YouTubers, to prevent tax evasion, according to documents submitted to lawmakers on Monday. According to Rep. Kang Byung-won of the Democratic Party of Korea, the Finance Ministry has been collecting foreign exchange receipts exceeding $10,000 per person from the Bank of Korea, and using the data for tax reports and investigation of high-income influencer
Industry Sept. 30, 2019
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[Photo News] 2019 KGCCI Innovation Awards
INNOVATION AWARDS -- Korean four-dimensional radar technology firm Bitsensing CEO Lee Jae-eun (center) poses for a photo with Manfred Martin, a professor at RWTH Aachen University, at the fifth KGCCI Innovation Awards ceremony held at the Sebitseom floating islands in Seoul on Friday. During the event, Bitsensing and three other companies, including 42 Maru, BASF Korea and Henkel Korea, received innovation awards in the presence of high-ranking executives from the Korean-German business communit
Industry Sept. 30, 2019
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New KAI chief urges focus on winning orders
The new chief executive officer of aerospace and defense company Korea Aerospace Industries has urged his employees to focus all of their capabilities on winning orders to overcome the management crisis, the firm said Sunday. “Despite the harsh environment, KAI has achieved remarkable growth through the efforts of its employees and partner companies as well as support from the government. However, the company is in a crisis due to stagnant sales and orders over the past five years,&rd
Industry Sept. 29, 2019
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SK Innovation accuses LG Chem of reneging on patent deal
SK Innovation on Sunday expressed regret over the patent infringement lawsuit recently filed against it by LG Chem with a US court, as they had agreed five years ago not to sue each other on one particular patent case.Vowing a befitting response as the legal battle rages, SK Innovation said, “We will respond strongly by taking all possible legal actions,” lashing out at LG Chem for failing to create a virtuous cycle through fair and cooperative competition.The remarks came as LG Chem
Industry Sept. 29, 2019
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Samsung Heavy develops fuel cell-powered crude oil tankers
Samsung Heavy Industries has become the first shipbuilder to develop the world’s first fuel cell-powered aframax crude oil tankers in response to the International Maritime Organization regulations strictly limiting carbon dioxide emissions. Samsung Heavy said Thursday it acquired Approval in Principle, or AiP, by Oslo-based international accredited registrar and classification society DNV GL, for its fuel cell-powered aframax crude oil tanker. AiP is a process to verify technological
Industry Sept. 26, 2019
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LG CNS sets up JV with Megazone Cloud
South Korea’s LG CNS, an information technology services subsidiary of LG Corp., said Thursday it is set to establish a joint venture specializing in cloud conversion and operations with Megazone Cloud, the largest cloud management company here.The companies aim to take the lead in the cloud conversion market through their JV. They have signed a joint investment agreement. After discussing the detailed implementation plan for about three months they hope to finalize the JV’s establis
Industry Sept. 26, 2019
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