Articles by Cho Chung-un
Cho Chung-un
christory@heraldcorp.com-
Samsung partners with Renovo for autonomous vehicle tech
Samsung Electronics and Revono, a US mobility software company, will collaborate to develop “highly-automated vehicle technology,” the two companies said Wednesday. The two have been working together since the beginning of this year on enabling the Smart Machines Group under the Samsung Strategy and Innovation Center to use Renovo’s Aware operating system in its first fleet of test vehicles in California, the US company said.Aware is a scalable automated mobility operating system which merges so
Technology Dec. 13, 2017
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Sales volume of Posco Suzhou plant reaches 5-million-ton mark
The sales volume of automotive steel processed at Posco’s plant in Suzhou, China, has surpassed the 5 million ton mark, riding on the fast-growing car market in the country, the company said Wednesday. The plant, located west of Shanghai, known as China’s auto cluster, has reached the 5-million-ton mark faster than any other plants operated by Posco around the world, it added in a statement. Workers at Posco Suzhou plant celebrate the plant surpassing 5 million ton mark of selling automotive ste
Mobility Dec. 13, 2017
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Moon to visit Hyundai’s new China plant in Chongqing
South Korean President Moon Jae-in will visit Hyundai Motor’s newly built assembly plant in Chongqing, southwest China, Friday during a state visit, Cheong Wa Dae said Tuesday.The plant is the fifth manufacturing facility in China for Hyundai. A 50:50 joint venture set up by Hyundai Motor and Beijing Automotive Group invested a combined $1 billion to build the plant capable of producing 300,000 vehicles a year. Hyundai Vice Chairman Chung Eui-sun is expected to accompany the president, the compa
Mobility Dec. 12, 2017
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US safeguard against Samsung, LG to halve washer imports: panel
If a US safeguard is implemented on products manufactured by South Korean appliance makers, the number of washing machines imported to the country is expected to half, according to a report compiled by a US trade watchdog.In the final report on its Section 201 investigation to US President Donald Trump last week, the US International Trade Commission stated that a broad tariff will increase the retail prices of large residential washers (LRW) sold in the US market compared to 2016 while benefitt
Technology Dec. 11, 2017
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[Global Finance Awards] Securing competitiveness in finance industry key for success in 4th industrial era
The Korea Herald has organized the first Global Finance Awards, recognizing that strengthening competitiveness in South Korea’s finance industry and establishing an ecosystem on par with global standards are required for the nation’s economy to make a new leap forward in the era of the “fourth industrial revolution.” This award is meant to acknowledge outstanding individuals and companies that have pioneered the global market and provided convenient financial services wit
Market Dec. 4, 2017
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[Herald Interview] ‘Korean startups should think about global market’
Like other parts of advanced markets in the world, expectations have been growing for budding enterprises in South Korea for their roles of creating unique ideas. Some of them have high potential to start in the Korean market, with the possibility of expanding globally afterward, an expert in startup accelerator program in Hong Kong said. But designing the product or service by having global expansion in mind from the beginning will bring differences afterward."One point of advice I would like t
Mobility Dec. 4, 2017
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[Weekender] From Moncler to PyeongChang coat, padded jackets rule South Korea's fashion scene
Choosing the right padded jacket -- this winter’s ‘it’ item -- is a much more complicated task than one may think. It’s not just design and color, but the type of insulation also has to be decided -- goose, duck or synthetic materials, as well as their composition ratios, waterproof or not and even the overall weight. For many South Koreans, however, it all seems to come down to a choice between luxury and cost-effective alternatives. Moncler‘s 2017 Fall/Winter collection (Moncler)On the high-en
Industry Dec. 1, 2017
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Posco Daewoo signs $60m deal in Pakistan
Posco Daewoo, the trading arm of the South Korean steel giant, has signed a $60 million contract with a Pakistani paper manufacturing company, it said Thursday.Under the deal, Posco Daewoo will supply plant equipment to Century Paper & Board Mills, one of the largest paper making companies in Pakistan. Posco Daewoo CEO Kim Young-sang (left) shakes hands with Century Paper & Board Mills President Iqbal Ali Lakhani, after signing a $60 million contract in Karachi, Pakistan, Wednesday. (Posco Dae
Mobility Nov. 30, 2017
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[Newsmaker] Amid rumors, GM Korea’s new CEO puts financial viability first
Amid persistent rumors of leaving South Korea, GM Korea’s new chief said Thursday he would focus on reviving the financial stability of the carmaker first by cutting down its costs and promoting sales next year. In his first meeting with Korea media, Kaher Kazem, president and CEO of GM Korea, said the carmaker will launch Equinox, a Chevrolet compact sports utility vehicle, next year to expand the carmaker‘s sales volume.Kaher Kazem, CEO and president of GM Korea, speaks at a press conference i
Mobility Nov. 30, 2017
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Mahindra partners with Uber for EV sales
Indian carmaker Mahindra & Mahindra has teamed up with Uber to expand sales of electric vehicles in India, the company’s office in Seoul said Wednesday.The collaboration includes deploying hundreds of the vehicles in Delhi and Hyderabad, and operating Mahindra’s electric vehicles -- the e2oPlus hatch and eVerito -- on the Uber platform there, it said.Under the partnership, Uber drivers can purchase Mahindra electric vehicles at competitive prices and with attractive financing and insurance premi
Mobility Nov. 29, 2017
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Samsung chief’s hidden accounts to face taxation
The National Tax Service has begun reviewing the Samsung chief’s assets allegedly withdrawn from accounts opened under borrowed names, after the Finance Ministry said the accounts are subject to taxation regardless of the timeline, officials said Wednesday.The Finance Ministry said as the upper body of the tax office that it could apply the limitation of period for tax assessment for 10 years on the accounts allegedly used for fraud and other wrongdoings. With the ministry’s interpretation, it w
Mobility Nov. 29, 2017
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Renault Samsung unveils new EV sedan
DAEGU -- Renault Samsung Motors, the Korean unit of the French carmaker, on Thursday introduced the new full-electric vehicle, SM3 Z.E., as part of its strategy to tap into the new market of green cars here. The presentation was made by the group‘s Senior Vice President Gilles Normand at Daegu International Future Auto Expo held for four days from Wednesday at Daegu EXPO. As Korea’s only sub mid-sized EV sedan, SM3 Z.E. represents the most luxurious model among all EVs sold by Renault, incorpora
Mobility Nov. 23, 2017
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[ASK A LAWYER] A tip on the customs value evaluation in doing business in Korea
Ask a Lawyer is a regular column written by attorneys at Yoon & Yang LLC on various legal aspects of the Korean life or business. The content provided here is general legal information, not legal advice on a specific situation. -- Ed. (123rf)Q. If a local Korean subsidiary of a global corporation is considered as an independent “importer,” a lower customs value is accepted compared to the case where the local subsidiary is considered as a mere “branch” of the global corporation. How can a local
Industry Nov. 19, 2017
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[단독] 볼보트럭 CEO “삼성과 전기트럭개발 논의 중”
스웨덴의 볼보트럭이 삼성과 전기트럭 상용화에 필요한 “차세대 배터리” 개발 논의 중이라고 볼보트럭 사장 클라스 닐슨이 코리아헤럴드와 인터뷰에서 밝혔다. 지난 15일, 기자간담회차 서울을 방문한 그는, 본지와의 인터뷰에서 “삼성과 배터리 개발을 위한 협력을 이전부터 해왔다”며, 현재는 “차세대 배터리 (future-generation batteries)를 개발하기 위한 (삼성과) 논의를 하고 있다”고 말했다. 클라스 닐슨 볼보트럭 CEO (사진=볼보트럭코리아)이는 탄소배출 저감과 자율주행등 기존 상용차의 패러다임을 바꾸기 위한 볼보트럭의 미래 전략중 하나. 현재 볼보트럭은 전기트럭의 컨셉만 공개한 상태다. 상용화를 위해서는 차체와 화물의 무게를 견디면서 에너지 효율을 낼 수 있는 배터리가 관건으로 알려져 있다. “현재 우리는 (볼보 그룹) 순수 전기로 움직이는 전기버스을 개발 시켰지만, 앞으로는 역시 순수 전기로 가동되는 트럭도 만들 계획”이라며 “한국의 기업들은 반도체와 배터리 분
한국어판 Nov. 16, 2017
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[Exclusive] Volvo Trucks in talks with Samsung for full-electric trucks: CEO
Swedish truck manufacturer Volvo Trucks is in discussion with Samsung to develop future-generation batteries in order to commercialize trucks powered by electricity, its chief said in Seoul on Wednesday.In an interview with The Korea Herald, Claes Nilsson, president of Volvo Trucks, said the company has been in talks with the South Korean tech giant to introduce electric trucks, which are part of what the company envisions for a “greener” future. Claes Nilsson, president of Volvo Trucks, speaks
Mobility Nov. 16, 2017
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