Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
[Herald Interview] Central Asia, Korea bolster forest partnership
South Korea aims to bolster its forest partnership with Central Asia by sharing its forest expertise and boosting cooperation in restoring the region’s damaged forest ecosystem, the national forestry chief said.“Central Asia is becoming an important region to South Korea as a growing number of Korean companies have been making inroads into the countries, which have abundant natural resources and high growth potential,” said Shin Won-sop, minister of the Korea Forest Service, in an interview with
Industry Aug. 18, 2014
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Korea to expand corporate pension plan
The government is expected to unveil an improved corporate pension plan at the end of this year with an extension of corporate pension plans and deregulation on the of their operations.Under the proposed revision of the corporate pension system, Korean companies with over 300 employees will be obliged to run a retirement pension plan for their employees by 2016, and this will be expanded to all companies by 2024.State-run think tank Korea Development Institute proposed the improvements at the po
Industry Aug. 17, 2014
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Ex-LIG chief may head insurance association
A former CEO of LIG Insurance is expected to become the new head of the General Insurance Association of Korea, according to industry sources Thursday. The sources said that one of the two candidates selected by the nomination committee ― Kim Woo-Jin, former vice chairman of LIG Insurance ― stepped down, leaving only Jang Nam-sik, former chief executive of LIG Insurance in the race.Jang holds a bachelor’s degree in social science from Seoul National University. He has worked for LIG Insurance fo
Industry Aug. 14, 2014
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Trade volume between Korea, Japan drops
South Korea’s trade volume with Japan has seen a decline recently on the back of a weak yen and Seoul’s reduced reliance on importing industrial parts and materials from the country, according to the Korea International Trade Association. KITA said trade volume between the two nations had reached $42.9 billion in the first half of this year to record a 9.8 percent drop from the same period last year. The figure is the lowest since 2009, in the midst of the global financial crisis, when trade vol
Industry Aug. 14, 2014
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Finance minister urges Assembly to pass economic stimulus bills
Choi Kyung-hwan, the deputy prime minister for economic affairs and finance minister, urged economic ministers Friday to step up their efforts to help pass economic stimulus bills pending in the National Assembly. “Legislative support is needed from the National Assembly in order to revive the economy. However, many of the economic stimulus bills are still pending, dragging down the government’s push to jumpstart the slowing economy,” Choi said in an emergency meeting with economy-related minist
Industry Aug. 8, 2014
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Korea to hold international irrigation, drainage congress
Global agricultural leaders and professionals are to gather next month at the International Commission on Irrigation and Drainage Congress hosted by South Korea’s Ministry of Agriculture, Food and Rural Affairs, and the Korea Rural Community Corporation. The ICID Congress ― the largest international conference on irrigation and drainage ― will bring together up to 1,200 government officials and specialists from 60 countries who will share their knowledge and research in Gwangju from Sept. 14-20.
Industry Aug. 7, 2014
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KB Financial bets big on diversification
KB Financial Group, the nation’s largest financial group, expects its persistent efforts toward business diversification to help it overcome a recent crisis involving extensive data leaks. The diversification scheme is mainly focused on weaning the group off its traditional banking businesses to branch out into non-banking sectors, such as insurance and loan brokering.One example is its launch of KB Capital in March, following its acquisition of Woori Financial.Only five months in, KB Capital ha
Industry Aug. 7, 2014
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Korea EXIM Bank issues bonds worth $1 billion
The Export-Import Bank of Korea said it has issued foreign currency bonds worth $1 billion to investors in the global market on Wednesday. The bank issued 5-year and 12-year bonds to raise $500 million with each, and their interest rates were 72.5 bps and 85 bps higher than U.S. government bonds, respectively. In particular, the 5-year bond’s interest rate is the lowest since the global financial crisis in 2008, the bank’s official said. Their interest rates are around 17.5 to 45 bps lower than
Industry Aug. 6, 2014
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Low female employment rate weakens Korea’s productivity
Analysts warned Tuesday that Korea’s productivity will suffer if Asia’s fourth-largest economy fails to address its low rate of female workforce participation. South Korea continues to struggle with low female economic activity due to socioeconomic factors including a lack of financial support for child care and education, and discrimination.The analysts suggested government intervention and policy revisions that could benefit both private companies and female workers.Easing the taxes on working
Industry Aug. 5, 2014
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‘Live your today,’ Hanwha Life ad tells viewers
Hanwha Life Insurance, the nation’s second-largest insurer, is reaching out to customers with heartfelt a advertising campaign. Its latest television commercial, called “Live your today,” is part of a series of marketing initiatives encouraging people to lead happier lives. The new commercial questions the traditional way of thinking that calls for the younger generation to sacrifice the present for a better future, emphasizing that the more important values in life involve pursuing true happine
Industry Aug. 4, 2014
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Death toll from quake in south China rises to 398
Rescuers dug through shattered homes Monday looking for survivors of a strong earthquake in southern China's Yunnan province as the death toll rose to at least 398 people, with more than 1,800 injured. About 12,000 homes collapsed when the quake struck Sunday afternoon in impoverished Ludian county, around 370 kilometers (230 miles) northeast of Yunnan's capital, Kunming, China's official Xinhua News Agency reported.Ma Yaoqi, an 18-year-old volunteer in the quake zone, said by phone that at leas
World News Aug. 4, 2014
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N. Korea's trade with China falls 2.1 pct in H1
North Korea's trade with its economic lifeline China fell 2.1 percent on year to US$2.89 billion in the first six months of this year, data compiled by South Korea's government trade agency showed Monday, in another sign that strained political ties between the two nations have affected their economic relations.During the six-month period, North Korea's exports to China declined 3.9 percent to $1.31 billion and imports slipped 0.6 percent to $1.58 billion, according to the data provided by the B
North Korea Aug. 4, 2014
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KB’s LIG takeover bid faces hurdles
Speculation is rife that KB Financial Group’s attempt to buy LIG Insurance may fail as the banking group’s top executive may face severe sanctions from financial authorities.KB Financial Group is scheduled to submit the application to financial authorities this week to take over the country’s fourth-largest nonlife insurer, according to market watchers. The banking group promised to apply within 45 days of signing a deal with LIG Insurance on June 27. The deadline is Aug. 11. KB Financial Group
Industry Aug. 3, 2014
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Naver profit rises 38% on robust overseas sales
Naver, South Korea’s largest search engine, on Thursday said its operating profits rose 38 percent in the second quarter, driven by its strong overseas performance. The company posted 191.1 billion won ($186 million) in business profits to record a 38 percent rise from the 189.1 billion won a year ago. Sales were at 697.8 billion won, representing a 22 percent increase compared to the same period in 2013. “The growth in sales was driven by a solid performance from overseas businesses including L
Industry July 31, 2014
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[Weekender] ‘Joint efforts needed for data protection’
Social media is an important digital platform to build social networks and share activities. According to the Korea Internet & Security Agency, around 55 percent of South Koreans used social media in 2013, and the number is expected to rise this year. With more personal information being exposed online, however, experts are voicing concerns about privacy issues. They say digitalized personal information can be a target for hackers or criminals, who attempt to take advantage of such data. “South
Technology July 25, 2014
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