Articles by Shim Woo-hyun
Shim Woo-hyun
ws@heraldcorp.com-
T’way Air Q3 operating profit hits record high, up 56 percent on-year
Korean low-cost air carrier T’way Air posted a record-high operating profit of 25.9 billion won ($23.3 million) in the third quarter of this year, a 56 percent increase on-year, the company said Wednesday. The air carrier’s sales in the same period also reached 165 billion won, a 42 percent increase from a year ago, it added. (T'way Air)In the last three quarters, T’way Air saw combined sales of 426 billion won, up 50 percent on-year, with 46 billion won of operating profit, a 156 percent increa
Industry Nov. 15, 2017
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[Herald Interview] ‘Compassionate capitalism,’ another name for social entrepreneurship
To achieve successful social entrepreneurship, one should be “even more” creative and innovative as such endeavors seek not just to make profits but also to create a better society, Penny Low, founder of the Social Innovation Park, said in an interview with The Korea Herald on Monday.Low has been leading the nonprofit organization that promotes social entrepreneurship. She was also a member of the Parliament of Singapore for almost 15 years. Low was in Seoul to attend and deliver a key note spee
Industry Nov. 14, 2017
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LS C&S Asia begins cable factory construction in Myanmar
South Korea’s cable maker LS Cable and System Asia on Tuesday said it broke ground on the local cable manufacturing facility in Myanmar. LS C&S Asia is expected to complete construction of the cable factory by November next year. The 19,800-square-meter factory will be built in the Thilawa Special Economic Zone. LS C&S Asia’s cable manufacturing facility there would first focus on producing low-voltage cables to cover demand in the local market. (LS C&S Asia)Fifty percent of cable demand in Myan
Industry Nov. 14, 2017
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Market caps of China-related firms recover amid easing tension
Market values of Korean companies reliant on the Chinese market rebounded as Seoul and Beijing continued to normalize ties. According to data released Sunday by the Korea Exchange, the market caps of Korean firms in consumer sectors, such as cosmetics, duty-free and entertainment have posted swift growth during the past eight trading days. (Yonhap)The companies that marked significant recoveries during the period included LG Household & Healthcare, Amorepacific Group, Amorepacific, Lotte Shoppi
Industry Nov. 12, 2017
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Kepco inks W2.6tr deal to construct coal-fired plant in Vietnam
Korea’s utility provider Korea Power Electric Corp. signed a 2.6 trillion won ($2.3 billion) deal to construct a coal-fired plant in Vietnam, the company said Thursday. A consortium of Kepco and Japanese trading firm Marubeni will be in charge of construction as well as the operation of the 1,200-megawatt power plant in the Nghi Son 2 economic zone in the central province of Thanh Hoa, about 200 kilometers south of Hanoi. Kepco CEO Cho Hwan-eik (first from right) poses for a picture with Deputy
Industry Nov. 9, 2017
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GS E&C’s Xi named top apartment brand in Korea for 2nd year
Xi, a Korean apartment brand owned by GS Engineering & Construction, was named the top Korean brand by the 2017 Apartment Brand Power, an annual survey conducted by a real estate research firm showed Wednesday. According to Drapt.com’s survey, which asked 1,940 people about their preferences among 40 different Korean apartment brands between Oct. 30 and Nov. 5, Xi topped the other brands in all three categories: brand awareness, preference and value. (Yonhap)This is the second year that Xi has
Industry Nov. 8, 2017
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Samsung to sell off W1tr of stakes in Hanwha General Chemical
Samsung is moving to sell its stakes in Hanwha Group’s chemical unit, the group said in a regulatory filing Wednesday.Samsung Group’s trading unit Samsung Construction and Trading currently owns a 20.1 percent stake in Hanwha General Chemical, and Samsung SDI has 4.05 percent stake in the same chemical business.If the entire 24.1 percent stake is sold, Samsung Group can expect to receive around 1 trillion won ($898 million). (Yonhap)Samsung Group’s 24.1 percent stake in the chemical unit is lef
Industry Nov. 8, 2017
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KT&G joins HNB tobacco market in Korea
Korean tobacco manufacturer KT&G rolled out its heat-not-burn device lil at a press conference in Seoul on Tuesday, becoming the third tobacco maker after Philip Morris Korea and British American Tobacco Korea to release the line here. Price competition in the HNB products industry in Korea is expected to heat up further as Korea’s largest cigarette maker jumps into the market with its own products at cheaper prices. A model presents KT&G’s heat-not-burn device lil in Seoul on Tuesday. (Yonhap)K
Industry Nov. 7, 2017
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Chef Gordon Ramsay to visit South Korea for Cass
Oriental Brewery, the South Korean unit of the world‘s largest brewer Anheuser-Busch InBev, said Monday that Gordon Ramsay will visit Korea to promote its Cass beer.Ramsay is to arrive at Incheon Airport on Nov. 17 for a four-day trip here. (Oriental Brewery)During his visit, Ramsay will join a meeting with young people around Hongik University, a hip neighborhood frequented by the younger generation, to share his thoughts on food and beer culture here.Ramsay will also visit the nation‘s largest
Industry Nov. 6, 2017
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Celltrion secures new drug manufacturing partner in US
South Korea’s Celltrion said Friday that it had tapped Baxter BioPharma Solutions as its new contract manufacturing partner for Remsima in a move to cover growing demand and ensure stable supplies in the US.Under the new CMO agreement, the US-based biopharma company will produce Celltrion’s Remsima in the form of finished drugs. Celltrion’s headquarters in Songdo, Incheon (Park Hyun-koo/The Korea Herald)Remsima is Celltrion’s biosimilar drug referencing Johnson & Johnson’s autoimmune disease tre
Industry Nov. 3, 2017
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GS Group chairman seeks opportunities in India
GS Group Chairman Huh Chang-soo and affiliate CEOs visited India to discuss the group‘s business strategies overseas, the group said Thursday. Starting in 2011, GS Group has been holding overseas meetings as a means to find future growth engines outside of Korea. This year, GS Group decided to hold meetings in India where the group aims to increase its footing down the road. GS Group Chairman Huh Chang-soo (center) visits HomeShop18, an Indian on-air shopping channel that GS Group has a 15 perc
Industry Nov. 2, 2017
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Hanwha to build 100MW floating solar power farm in Dangjin
A consortium led by Hanwha General Chemical has been selected as a preferred bidder by the Korea Rural Community Corporation to build a 100-megawatt floating solar power plant in Dangjin, South Chungcheong Province, Hanwha Group said Thursday. The construction of the floating solar power farm is expected to start in 2019 after a series of licensing procedures and begin operations in 2020, Hanwha Group said. The consortium of Hanwha General Chemical and Korea Midland Power will be responsible for
Industry Nov. 2, 2017
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[Exclusive] Lamborghini family‘s new EVs seeks to run on LG batteries
Town Life, a utility vehicle business unit owned by the Lamborghini family, is looking to use LG Chemical’s batteries for its new electric vehicles, the Italian carmaker‘s local partner company in Korea said Wednesday.“The company is thinking of using LG batteries for an electric version of Town Life vehicle model,” said Harrison Lee, Green Power Circuit Corporation Korea CFO. Town Life Chairman Ferruccio Lamborghini introduced Town Life's new electric motorcycle Tuesday at a press conference h
Industry Nov. 1, 2017
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Three more Paris Baguette branches to open at Singapore Changi Airport
South Korean food manufacturer and distributor SPC Group will add three more Paris Baguette branches at Singapore Changi Airport, the company said Wednesday.The three bakery-cafe branches will be located at newly built Terminal No.4, which has been designed to cover 16 million passenger movements a year. The terminal was opened to the public Tuesday. (SPC Group)Singapore Changi Airport annually handles some 52 million passengers as of last year, listed as the world’s sixth-busiest airport in te
Industry Nov. 1, 2017
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Lamborghini introduces new electric motorcycle model in Korea
Town Life, a utility vehicle business unit owned by the Lamborghini family, introduced its new electric motorcycle model Iso Moto Ferruccio Lamborghini in Korea on Tuesday.Town Life and its co-developer Green Power Circuit Corporation Korea will begin commercial sales of the electric motorcycle in Korea within this year, Town Life Chairman Ferruccio Lamborghini said during the press conference. Town Life Chairman Ferruccio Lamborghini (right) introduces Town Life's new electric motorcycle Tuesd
Mobility Oct. 31, 2017
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