Articles by Byun Hye-jin
Byun Hye-jin
hyejin2@heraldcorp.com-
Hyundai inches away from double-digit market share in Brazil
Hyundai Motor Group is a small step from seeing double-digit market share in Brazil, 10 years after it first entered the automobile market there. According to data from the Brazil Automobile Dealers Association, Hyundai sold 171,312 vehicles in Brazil in the January-November period, recording a 9.8 percent market share. It marks its second-highest number, following 9.9 percent in 2016. The top-selling car model was the HB20, a subcompact car model exclusively produced for Brazil, selling 89,
Mobility Dec. 12, 2022
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[Photo News] Hydrogen fuel-cell alliance
Hyundai Motor Group Vice President Lim Tae-won (left) shakes hands with Patrick Hermanspann, CEO at FAUN Group, at the German carmaker's headquarters in Osterholz Scharmbeck, on Thursday, after celebrating a new partnership, under which Hyundai supplies 1,100 hydrogen fuel-cell systems for FAUN's eco-friendly garbage cars and cargo trucks.
Mobility Dec. 12, 2022
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Vietnam at the center of Samsung’s renewed R&D push
HANOI, Vietnam – Gone are the days when Vietnam served as a cheap manufacturing base for global companies. Samsung Electronics, among others, have more recently been investing heavily to nurture a new research hub there. Ahead of the opening of its new research and development center later this month, the South Korean tech giant held its recruitment test, called Global Samsung Aptitude Test, three times this year alone -- a massive hiring drive that is rare both at home and abroad. “
Technology Dec. 11, 2022
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Hyundai’s Ioniq 5 wins Japan’s import car of the year
Hyundai Motor Group's Ioniq 5 electric vehicle has won the title of the best import car of the year in Japan, the automaker said Friday. It is the first time the South Korean automaker has made it onto the award-winning list of the Japan Car of the Year Award. Hyundai’s Ioniq 5 outranked BMW’s iX, Land Rover’s Range Rover, Renault’s Arkana and other distinguished car models. The award’s executive committee said Ioniq 5 was well-received for its innovative des
Mobility Dec. 9, 2022
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BMW likely to beat Mercedes-Benz in Korean sales after 7 years
German luxury carmaker BMW is highly likely to top import car sales in South Korea this year, seven years after it lost the No.1 title to its archrival Mercedes-Benz. According to recent data from the Korea Automobile Importers and Distributors Association, BMW sold 71,713 units in the January-November period, outpacing 71,525 unit sales of Mercedes-Benz. With a month left in 2022, industry watchers say BMW is highly likely to take back the No. 1 post this year. The two German brands are the m
Mobility Dec. 8, 2022
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Vietnam’s industry minister urges resource investment from S. Korea
Nguyen Hong Dien, Vietnam’s minister of industry and trade, on Tuesday urged South Korea to invest in clean energy and mineral resource development, in a step toward strengthening the two countries’ bilateral ties. “In a few weeks, Vietnamese government will approve the country’s long-term eight master plans centering on renewable energy. We hope South Korean companies invest in mineral resource development here, that is essential to the energy industry,” the mini
Industry Dec. 7, 2022
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Vietnam's investment minister pledges to bolster business ties with South Korea
Vietnam’s Planning and Investment Minister Nguyen Chi Dung on Monday renewed the Southeast Asian country's commitment to bolstering business ties with South Korea in a range of areas from construction to medical care. “Despite the struggling global economy and dim outlook for next year, Vietnam is one of the best countries for investment, mostly driven by a stable political and economic environment, rapid growth rate and resilient workforce,” said the minister during a lunche
Foreign Affairs Dec. 6, 2022
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Breaking the glass ceiling: Chaebol groups make breakthrough with female leaders
A wind of change may be blowing at the nation’s male-dominant corporate culture, with more women getting promoted to take top seats amid year-end reshuffles. LG Group last week tapped two female CEOs to lead its key affiliates – Lee Jung-ae for its retail arm LG Household & Health and Park Ae-ri for its advertising unit G II R. It was the first time not just for LG, South Korea’s fourth-largest conglomerate, but for one of the nation’s top five chaebol groups, to appo
Consumer Nov. 27, 2022
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[Herald Interview] Line Man Wongnai aims to go beyond Coupang in Thailand
With coronavirus pandemic reaching its endemic phase, South Korea’s food delivery platforms may be losing their growth momentum. But Thailand is fast rising as a market filled with new business opportunities for e-commerce startups. Located in the heart of Southeast Asia, the country’s food delivery market is thriving with a surge in smartphone users and one of the leading players is Line Man Wongnai, the popular food delivery platform operated under Line Corp. “The fact th
Industry Nov. 27, 2022
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Losing on home turf: Korea’s kimchi trade deficit returns
South Korea’s imports of kimchi, a staple of almost every meal, reached an all-time high last month, with soaring ingredient costs driving up prices of domestically made kimchi amid inflation fears. In October, kimchi shipments from overseas surged by 50.9 percent compared to a year earlier to $17.02 million, according to data from the Korea Customs Service. The figure showed a 16.2 percent increase from the previous month. It is the first time monthly imports surpassed the $17 million m
Consumer Nov. 16, 2022
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Smilegate founder’s divorce could affect ownership
Kwon Hyuck-bin, founder of South Korea’s gaming giant Smilegate and the nation's fifth richest person in terms of asset value, is going through an expensive divorce, according to legal sources Tuesday. Kwon’s wife was recently ruled in favor of her claim banning her husband from selling company shares until the divorce is finalized. Kwon controls 100 percent shares of Smilegate that is best known for its popular shooting game “Crossfire.” If the court orders Kwon t
Technology Nov. 15, 2022
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Medicube operator eyes IPO on upbeat sales
APR, operator of Korean street fashion brand Nerdy and dermocosmetics brand Medicube, said Tuesday it posted record-high sales in the third quarter this year. The company’s sales surged on-year by 306 percent to 95 billion won ($72 million) while its net income jumped 81 percent to 12 billion won from July to September. Accumulated sales and income through the third quarter were 269 billion won and 18 billion won, respectively, surpassing last year’s performance. The company attrib
Consumer Nov. 15, 2022
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[Herald Interview] Jeju striving to develop own unique citrus
JEJU -- Fun fact: Tangerines produced in South Korea’s resort island of Jeju, well-known for these sweet and sour fruits, actually originated from Japan. As time passed, most of the tangerines have been modified for cultivation within Korea, but their histories can still be traced back to Japan. In a move to promote authentic Korean food and reduce dependency on foreign fruits, Jeju is striving to produce its homegrown tangerines, according to an executive from a state-run agricultural a
Industry Nov. 14, 2022
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Milk inflation accelerates
With the upcoming milk price hike slated for this week, South Korean consumers are likely to see a series of price increase in bread, butter and dairy products -- everyday low-cost items -- worsening the already soaring inflation. Seoul Dairy Cooperative, the largest supplier of milk and dairy products here, recently announced it will increase the price of milk and dairy products around 6 percent starting Thursday. A 1-liter carton of the company’s milk will be at least 2,800 won ($2.10) i
Consumer Nov. 13, 2022
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Coupang turns profitable 8 years after launch of Rocket Delivery
South Korean e-commerce giant Coupang Inc. turned a profit in the third quarter this year – a first after years of losing money since the launch of its ultrafast Rocket Delivery service in 2014. The company logged $90.7 million in net income during the July-September period in a dramatic turnaround from last year’s net loss of $324 million, Coupang founder and CEO Kim Bom said in a conference call early Thursday. Its revenue increased 10 percent to $5.1 billion during the same period
Consumer Nov. 10, 2022
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