Articles by Kim Da-sol
Kim Da-sol
ddd@heraldcorp.com-
[News Focus] Hanjin siblings vie to woo shareholders with new management plans
With Cho Hyun-ah, heiress of Hanjin Group -- which owns South Korea’s flagship carrier Korean Air -- teaming up with the largest and third-largest stakeholders prior to the shareholders meeting in March to take over control, her brother and current Chairman Cho Won-tae is preparing more arrows in his quiver, according to industry watchers. The sibling feud has escalated ahead of the upcoming shareholders meeting, with each side maximizing tools to woo the rest of the shareholders as thei
Industry Feb. 3, 2020
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Local automakers face difficulties sourcing auto parts from China
South Korean automakers are struggling to operate manufacturing lines here following difficulties in sourcing components from China due to the suspension of factory operations in the mainland. According to Hyundai Motor Group, the automaker has decided to cancel extra working hours at its Ulsan and Jeonju plants this week, following the temporary shutdown of the two partnering factories in China that are responsible for supplying components such as wiring. To contain the rapidly s
Mobility Jan. 31, 2020
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[Newsmaker] Despite doctors’ assurances, public uneasy over use of Wuhan evacuation plane
After the government flew the first chartered flight using Korean Air’s B747 to Wuhan and brought 368 South Koreans here on Friday morning, the future use of the plane has come under public scrutiny, despite assurances by doctors about very low possibility of getting infected. According to the real-time air traffic tracker Flight Radar 24, Korean Air’s 22-year-old B747 which has tail number HL7461 was used to evacuate Koreans based in Wuhan, the epicenter of the coronavirus outbrea
Mobility Jan. 31, 2020
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[Photo News] Asiana Airlines sends relief goods to support Wuhan
Asiana Airlines said Friday that it has sent relief goods including masks and medical products worth 40 million won to support the people in Wuhan, China, as well as authorities’ effort to contain the virus. The products will be delivered to people in need in China, the air carrier said, adding that it has sent the items on OZ331 flight bound for Beijing and OZ323 bound for Chengdu. By Kim Da-sol (ddd@heraldcorp.com)
Mobility Jan. 31, 2020
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Hyundai Mobis’ 2019 sales, operating profit inch up
Hyundai Motor Group’s key affiliate Hyundai Mobis said Thursday that its operating profit hit 2.35 trillion won ($1.9 billion) last year, up 16.5 percent year-on-year, according to the auto parts maker’s regulatory filing. The company’s sales inched up by 8.2 percent to 38.48 trillion won over the same period, while its net profit recorded 2.29 trillion won, up 21.5 percent on-year. Hyundai Mobis attributed last year’s improved performance to expanded sales
Mobility Jan. 30, 2020
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Korean Air chief to accompany chartered flight to Wuhan
Hanjin Group Chairman and Korean Air CEO Cho Won-tae will be onboard the chartered flight that the government has arranged to bring back South Korean citizens from Wuhan, China, industry sources said Thursday. The government plans to send chartered flights of Korean Air’s A330 and B747 which can seat around 300 and 400 people, respectively, on Thursday and Friday, to bring back some 700 Koreans from Wuhan, the epicenter of the coronavirus outbreak. The first of the four flights was set
Mobility Jan. 30, 2020
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Renault executive visits conflict-ridden Busan plant
A senior executive from Renault Group visited the South Korean unit’s manufacturing plant in Busan on Wednesday, amid deepening labor and management conflict and falling productivity at Renault Samsung Motors. According to the South Korean unit of the French automotive group, Renault Group’s Deputy Alliance Executive Vice President Jose Vicente de los Mozos visited the Busan plant and held a meeting with manager-level employees. The company said the trip was part of his tour of Ren
Mobility Jan. 29, 2020
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Hyundai Wia to supply auto parts to global carmakers under W702b deal
Hyundai Wia said Wednesday that it has clinched a 702 billion won ($596 million) deal with European and US automakers to supply constant-velocity joints (CV joints). Hyundai Motor Group’s automotive parts manufacturing arm did not disclose the names of the companies, but said that under the deal 55 percent of the parts will be supplied to eco-friendly vehicles. This is its first major deal with overseas carmakers. CV joints enable a drive shaft to transmit power from the eng
Mobility Jan. 29, 2020
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Aviation, travel industries count cost of coronavirus outbreak
South Korean aviation and travel industries have been hit hard by refunds and cancellations in response to the new Chinese coronavirus outbreak, according to the industry on Tuesday. Several airlines have suspended the operation of routes to China and fully refunded customers for reservations, without applying the usual surcharge. The travel authorities and related businesses have also strengthened hygiene guidelines for their employees, such as obligating all cabin crew on flights and
Mobility Jan. 28, 2020
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Korean firms evacuate staff, suspend biz trips after Wuhan coronavirus outbreak
The outbreak of a deadly coronavirus in the Chinese city of Wuhan has cast a pall over Korean companies operating offices there, with some firms evacuating staff and suspending business trips, according to industry sources Monday. Currently, some 600 South Koreans reside in Wuhan, Hubei province, which also hosts local offices of Posco, SK Global Chemical, Hyundai Wia and LG Hausys. As of Monday afternoon, the official count of confirmed cases across China stood at 2,744. SK Global Che
Industry Jan. 27, 2020
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30-somethings biggest buyers of foreign cars
South Koreans in their 30s made up the biggest customer group for foreign cars here last year, according to industry data on Monday. Data from the Korea Automobile Importers & Distributors Association showed that in 2019, a total of 153,677 units of foreign cars were bought by individuals. Of the number, 50,645 vehicles, or 33 percent, were purchased by those in their 30s, followed by those in their 40s (31 percent), 50s (19.6 percent), 60s (8 percent), 20s (5.8 percent) and 7
Mobility Jan. 27, 2020
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[News Focus] What will happen at Hanjin KAL’s March shareholders meeting?
Signs of a sibling feud have been hard to ignore recently at Hanjin KAL, the Hanjin Group holding company that owns the country’s flagship carrier Korean Air, ahead of a Hanjin KAL shareholders meeting slated for March.With tension brewing over the holding firm’s leadership, the March meeting is an important one for Hanjin Group Chairman Cho Won-tae, who assumed the top post in April last year after his father died of chronic lung disease. Shareholders will vote on whether to reappoi
Mobility Jan. 23, 2020
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Hyundai Motor sales surpass W100tr for first time in 2019
Hyundai Motor Group said Wednesday that its sales last year hit a record high of 105 trillion won ($90 billion), surpassing the 100 trillion won mark for the first time, and its operating profit grew more than 52 percent.The conglomerate is the third to join the so-called “100 trillion won club,” after Samsung Electronics in 2008 and SK in 2018. Hyundai Motor’s sales exceeded 90 trillion won in 2015. According to Hyundai Motor’s 2019 financial statements, its an
Mobility Jan. 22, 2020
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Hyundai’s Chung Euisun presents 3 directions for hydrogen society in Paris
Global communities need to seek ways to advance a hydrogen society based on three aspects -- cost reduction through technological innovation, expansion of public receptivity and establishment of a safety management system -- according to Hyundai Motor chief Chung Euisun, who attended a CEO event of a global alliance for hydrogen technologies in Paris on Monday. “There is a no shortcut to the future hydrogen society. It is most important for the hydrogen industry to establish a specifi
Mobility Jan. 21, 2020
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[Photo News] Sharing warmth
S-Oil CEO Hussain A. Al-Qahtani (second from left) hands out meals to the homeless on Monday, as part of the company’s annual Lunar New Year’s volunteer activity. The company said some 100 employees have participated to offer meals and food products to the homeless and some 500 households, including senior citizens and the disabled. S-Oil has been conducting Lunar New Year’s volunteer activity for 14 consecutive years, dating to 2007.
Industry Jan. 20, 2020
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