Articles by Cho Chung-un
Cho Chung-un
christory@heraldcorp.com-
Hyundai Motor shareholders reject Elliott's dividend plans, board member candidates
Ending weeks of arguments over the adequacy of Hyundai Motor’s dividend plans, shareholders on Friday rejected a proposal by US activist investor Elliott Management that urged it to provide a combined 8.3 trillion won ($7.3 billion) dividends to investors this year.At an annual shareholders meeting held at the carmaker’s headquarters in Seoul, 86 percent of the shareholders voted for Hyundai’s plan of offering 1.1 trillion won in dividends while 14 percent stood by Elliott’s proposals.Shareholde
Mobility March 22, 2019
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Panel to shape Posco’s new CSR vision
Posco has launched a new committee consisting of outside directors and scholars to enhance the steelmaker’s presence as a socially responsible company, the company said Thursday.The seven-member Corporate Citizenship Committee is chaired by former Sungkyunkwan University President Kim Jun-young, with professor Chang Sea-jin of the National University of Singapore and professor Kim In-hoe of Inha University’s law school serving as panelists. Kim Jun-young, chairman of Posco’s Corporate Citizenshi
Mobility March 21, 2019
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Hyundai sets new Sonata sales target at 70,000 this year
Hoping to pick up the declining sales of midsize sedans, Hyundai Motor on Thursday said it has set the 2019 sales target of more than 70,000 units for the eighth-generation Sonata, a signature vehicle for more than three decades through which it has built its reputation.“By setting the sales target at 70,000 units this year, excluding (the number of vehicles to be sold) for commercial use, (Hyundai) will cement its No. 1 position in the sedan segment,” said Lee Kwang-guk, vice president for the
Mobility March 21, 2019
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[Hydrogen Korea] Japan paves way for hydrogen future, but public unconvinced
The Korea Herald is publishing a series of articles on South Korea’s latest measures to support the hydrogen economy, the market drive for hydrogen-powered vehicles and the hurdles that stand in the way. This is the seventh installment. -- Ed.TOKYO -- Close to Shiba Park, just under the Tokyo Tower, one of the Japanese capital’s most famous landmarks, is a modern building plastered with a huge H2 symbol.It is a hydrogen refilling station operated by Iwatani Corp., a local gas company
Economy March 20, 2019
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Market gloomy over chipmakers’ plummeting earnings forecasts
A series of estimate reports by local brokerage houses on South Korea’s two major chipmakers reignited market fears Tuesday, as they became more skeptical over their first-quarter earnings, citing falling memory chip prices due to market saturation. According to local market researcher FnGuide, the market consensus on Samsung Electronics’ operating profit came to 8.33 trillion won ($7.36 billion), a 47 percent decrease from the first three months last year. The quarterly estimate of SK hynix, th
Technology March 19, 2019
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Sonata preorders surpass 10,000 mark in 5 days
The number of preorders for Hyundai Motor’s all-new Sonata has surpassed the 10,000 mark in five days across the country since the carmaker start receiving orders on March 11, the company said Sunday.The eighth-generation Sonata sedan is selling faster than the previous one, around 2,000 units a day. On average, a total of 5,487 units of the seventh-generation Sonata, also known as Sonata LF, were sold a month last year, the company explained. The 8th generation Sonata (Hyundai Motor)The portion
Industry March 17, 2019
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Hyundai adopts 3rd-generation platform, starting with revamped Sonata
Hyundai Motor has developed a third-generation platform and used it for the all-new Sonata, set to be launched later this month here, the company said Wednesday.By using ultra-strength and hot-stamped steel, the platform is 10 percent stronger and 55 kilograms lighter than before, it added. (Yonhap)The new platform will help the carmaker design and manufacture safer, energy-efficient and more powerful vehicles. It is the basis of improving the carmaker’s performance and reduce air resistance.The
Mobility March 13, 2019
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Hyundai Mobis to invest W5.5b in Chinese AI startup
South Korean auto part maker Hyundai Mobis will invest 5.5 billion won ($4.86 million) in DeepGlint, a Chinese startup developing 3D image analysis and pattern recognition technologies.The company is a leader in the fields of security monitoring and business analysis, and has developed facial recognition technology that can identify a single person out of 1 billion people from a distance of 50 meters. (Yonhap)Mobis’ investment in DeepGlint is aimed at securing technologies for recognizing in-veh
Mobility March 13, 2019
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ISS backs Hyundai over dividend payouts
Institutional Shareholder Service, a global proxy advisory firm, has supported Hyundai Motor against its conflict with Elliott over special dividend payouts to shareholders.ISS said in a statement that it doesn’t support Elliott’s demand to return almost 7 trillion won in excess cash to shareholders through special dividends. It, however, supported two of Elliott’s three nominees for the board. It also showed support for Hyundai’s nomination of Yoon Chi-won, vice chairman of UBS AG’s wealth mana
Industry March 12, 2019
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[Feature] Tycoons let their hair down, but is it more style than substance?
On early Monday morning last week, an unthinkable scene unfolded in the lobby of Hyundai Motor’s headquarters in Yangjae, southern Seoul. Employees wearing sweat shirts, sneakers and blue jeans marched into the office, with some seniors in hiking tops and pants receiving morning greetings from younger ones, awkwardly, as if they came to realize at that instant that they were a bit off from what business casual really meant.For the first time in the carmaker’s half-a-century history,
Economy March 12, 2019
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E-cigarette maker Juul Labs seeks Korean market entry
US e-cigarette maker Juul Labs Inc. is likely to enter the South Korean market within the first half of the year, the company said Tuesday.The San Francisco-based company released the e-cigarette brand Juul in 2017 in the US. Its US market share was 72 percent as of September 2018.“We are aiming to put the Juul on the South Korean market during the first half of this year or at the start of the latter half at the latest,” a company representative said. (AP-Yonhap)Before entering the South Korean
Industry March 12, 2019
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UN grants sanctions exemption for video reunions of separated families
The United Nations Security Council on Friday granted a sanctions waiver to the shipment of equipment to North Korea for video reunions for families separated by the 1950-53 Korean War, diplomatic sources said.The UN sanctions committee on North Korea approved South Korea's request to permit relevant equipment to be sent to the North for the Koreas' video reunions of divided families on humanitarian grounds.Women walk through the streets of downtown Pyongyang, North Korea, Thursday, March 7, 201
North Korea March 9, 2019
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BLACKPINK's 'Ddu-Du Ddu-Du' tops 700 million YouTube views
K-pop girl group BLACKPINK's "Ddu-Du Ddu-Du" surpassed 700 million YouTube views Saturday, becoming the first Korean music group to set such a milestone.The video for "Ddu-Du Ddu-Du" set the milestone in nearly nine months after being released last June, YG Entertainment said. (Yonhap)The music video also set a record among K-pop groups of adding 100 million views at the fastest pace after hitting 200 million views.BLACKPINK holds the most music videos topping 500 million YouTube views for a K-p
Performance March 9, 2019
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S. Korea's goods trade surplus with U.S. falls to below $20b mark in 2018
South Korea's trade surplus with the United States fell sharply to below the $20 billion mark last year for the first time in six years, U.S. data showed Saturday.The world's largest economy posted a deficit of $17.9 billion in trade with South Korea in 2018, down from a deficit of $23.1 billion a year earlier, according to the data released by the U.S. Census Bureau. It is the first time that the numbers have fallen this low since 2012, when the U.S. reported a $16.6 billion trade deficit with
Economy March 9, 2019
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Hyundai Motor scaling back operations in China
With sales of vehicles in China plummeting sharply since 2017, South Korean auto giant Hyundai Motor said Thursday that it was considering suspending operations at its manufacturing plant in Beijing.Plans to suspend Hyundai Plant No. 1 are under review because the production rate has plunged to 50 percent. The carmaker’s Beijing office has already relocated or slashed 2,000 workers as part of a restructuring process. (Yonhap)But the suspension of the plant would not mean a shutdown, it said. Hy
Mobility March 7, 2019
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