Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Korea asks Google to change unfair terms for YouTubers’ content
The Korea Fair Trade Commission said Thursday it asked Google to change some of its terms and conditions related to copyright infringement, as the first competition authorities in the world to do so. Google’s video-streaming platform currently allows the firm to arbitrarily delete and reuse video posted by users.The antitrust watchdog said it is unfair that even if a user deletes his or her video, YouTube can still possess and use that video. It is also unfair that YouTube can arbitrarily delete
Industry March 14, 2019
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LPG vehicles to be allowed for everyone in Korea
Under legislation passed Wednesday morning, anyone in South Korea can now buy a liquefied petroleum gas-fueled vehicle. Previously, only taxis and rental cars could use LPG fuel. The bill, proposed by Rep. Yoon Han-hong of the main opposition Liberty Korea Party and calling for the complete deregulation of LPG vehicles, passed during the plenary session of the National Assembly’s industry committee. (Yonhap)Yoon proposed the bill in 2016, citing a growing need to expand consumer choices, supply
Industry March 13, 2019
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Antitrust watchdog chief to share competition policies with European counterparts
The Korean Fair Trade Commission chief is slated to share the nation’s competition policies and law enforcement with European nations during his seven-day trip to the continent this week. During his stay, Kim Sang-jo is slated to have a bilateral meeting with the European Union’s top antitrust official, give a keynote speech at the International Workshop on Competition Policy in Serbia and participate as a speaker at the International Conference on Competition held in Berlin. On Sunday, Kim Sang
Industry March 11, 2019
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Kakao, taxi drivers deal may set bad precedent: SoCar CEO
Lee Jae-woong, founder and CEO of car-sharing app SoCar, said the latest deal struck by taxi unions and car-sharing service providers may set a bad precedent as it appears to restrict business activities already allowed under the current law. After a monthslong dispute, an agreement was reached Thursday among the government, lawmakers, taxi companies and car-sharing firms to allow a car-sharing service for four hours daily on weekdays, in a move that hopes to end protests from taxi drivers claim
Industry March 8, 2019
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HHI strikes deal with KDB to take over DSME
Hyundai Heavy Industries Group said Friday it closed a deal with the state-run Korea Development Bank to take over Daewoo Shipbuilding & Marine Engineering. HHI CEO Kwon Oh-gap and KDB Chairman and CEO Lee Dong-gull announced a joint statement, pledging employment security for DSME workers and continued relationships with DSME’s current business partners. (Yonhap)“The decision to welcome DSME to the HHI Group is deeply rooted in our belief that it is a mission given to our group, as the trailbl
Industry March 8, 2019
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LG Chem to issue corporate bonds worth W1tr
LG Chem announced Thursday it plans to issue corporate bonds worth 1 trillion won ($885 million). The Korean firm said it decided to increase the initially planned 500 billion won of corporate bonds to 1 trillion won after carrying out “demand forecasting” for institutional investors this week. (LG Chem)The demand from investors stood at a total of 2.64 trillion won, the largest since Korea adopted the demand forecasting system in 2012, the firm said. By segment, it plans to issue 160 billion wo
Industry March 7, 2019
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Jim Rogers unfazed by summit collapse, says NK still attractive
Jim Rogers, a famed investor and chairman of Rogers Holdings, said a unified Korea is just around the corner and the Korean Peninsula will be the world’s most attractive place to put money on. Describing the botched US-North Korea summit in Hanoi last week as only a “bump in the road,” Rogers said the reunification of the two Koreas is already happening. “It’s a delay and it’s something that’s inevitable. It’s going to happen. ... North Korea wants it, South Korea wants it, China wants it (and)
Industry March 6, 2019
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LS Cable & System bets on EV parts business
LS Cable & System is slated to sell a 49 percent stake in its subsidiary LS Alsco to local private equity fund Keistone Partners with the aim of securing capital to foster its electric vehicle parts business, according to a regulatory filing on Wednesday. The company will retain a 51 percent stake in LS Alsco and the sale is expected to be fetch 30.9 billion won ($27 million). LS Alsco, which specializes in aluminum, will expand its business into related materials for EV parts. LS Cable & System
Industry March 6, 2019
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Calls grow for supervision of financial conglomerates
Calls have been growing in Korea to pass a bill that will beef up consolidated supervision of financial conglomerates, citing the need to lower their insolvency risk, while opponents claim the move excessively tightens the grip over chaebol. The system is intended to supervise financial conglomerates that do not own banks but hold more than 5 trillion won ($4.43 billion) in financial businesses, including lending, insurance or other finance investments. The system recommended by the Internationa
Industry March 6, 2019
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[Going Renewable (2)] Lacking strategy, companies count cost of carbon trading
The Korea Herald is publishing a series of articles looking into the South Korean government and businesses quest toward renewable energy. -- Ed.Four years since South Korea adopted its emissions trading scheme, the market appears to have soft-landed with the strong intervention of the government. Emissions trading refers to the system where the government allocates permits to discharge specific quantities of pollutants over a given time period. Polluters that want to increase their emissions mu
Industry March 5, 2019
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Korea sets aside W235tr to back exporters
South Korea set aside 235 trillion won ($209 billion) for trade finance with the aim of backing struggling exporters amid growing uncertainties over global trade and a slowdown in chip exports, the nation’s key export driver. The Ministry of Trade, Industry and Energy said Monday, “This year, six financial institutions will provide a total of 235 trillion won, up 15.3 trillion won from last year, to back exporters through trade finance,” in a joint plan with other ministries, including the Finan
Industry March 4, 2019
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Oil refiners appear passive toward government’s hydrogen drive
Despite the South Korean government’s ambitious plans to create a hydrogen economy this year, oil refiners appear to be taking a passive stance, citing questions over profitability. In January, the government announced its road map to boost the hydrogen economy, produce 6.2 million fuel cell vehicles by 2040 and eventually become the largest hydrogen car producer in the world. The government said 50,000 tons of byproduct hydrogen are currently available to fuel 250,000 hydrogen cars. Byproduct h
Industry March 3, 2019
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Yoo Myung-hee named new trade minister
President Moon Jae-in named Yoo Myung-hee, deputy minister for FTA negotiations, as trade minister Thursday, replacing Kim Hyun-chong, who was appointed deputy chief of the presidential National Security Office on the same day. Yoo Myung-heeThe new trade minister started her public service career in 1992 after passing the nation’s public administration examination. In 1995, she moved to the Ministry of Foreign Affairs and Trade,
Industry Feb. 28, 2019
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Posco to invest W1tr in green facilities
Korean steelmaker Posco plans to invest 1.07 trillion won ($956 million) in building environment-friendly facilities by 2021, with the aim of cutting air pollutants by 35 percent by 2022, in line with the government’s efforts to cut emissions of carbon dioxide. “We will close six aging units out of a total of 21 generating units by 2021 and invest 350 billion won to build new facilities with the latest technologies. The construction of new plants will start in December after undergoing environme
Industry Feb. 26, 2019
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S. Korea to tighten food sanitation regulations
The South Korean government said Tuesday it will tighten regulations and standards for food manufacturing companies to ensure health safety. The Ministry of Food and Drug Safety said it planss to implement from July a one-strike-out policy involving its controversial application of hazard analysis and critical control points, or HACCP, when a certified company violates basic food safety principles. (Yonhap)HACCP is a preventative management system that verifies and manages risks in the entire
Industry Feb. 26, 2019
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