Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
[Herald Interview] Korea needs to change ways of reforming chaebol: FTC chief
It is easy to misread Kim Sang-jo, the chairman of the Fair Trade Commission, who is well known as an erudite economist and a passionate anti-chaebol activist. Ever since he was named to head the nation’s top watchdog in June 2017, views have clashed between those that forewarned an end to the heyday of South Korea’s conglomerates and those that impugned whether the “chaebol sniper” would live up to his nickname. Halfway through his three-year tenure, Kim has completed the exhausting task of con
Industry Dec. 18, 2018
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HHI signs deal with DAPA for depot maintenance of Chang Bogo-II submarine
Hyundai Heavy Industries said Tuesday it has signed a contract with the Defense Acquisition Program Administration for depot maintenance of the third unit (1,800 tons) of the Chang Bogo-II submarine. Under the contract worth 55.5 billion won ($49 million), the Korean shipbuilder is slated to deliver the submarine to the Korean Navy by 2020. The depot maintenance project is designed to replace and repair parts of the interior of the submarine. Hyundai Heavy Industries already completed depot main
Industry Dec. 18, 2018
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Korean entrepreneurs pivot toward ASEAN on back of New Southern Policy
In line with the South Korean government’s push to strengthen diplomatic and economic ties with Southeast Asia, Korean entrepreneurs are increasingly seeking new opportunities in the region to benefit from its fast-growing economies, which have a combined population of 630 million and a combined gross domestic product of $2.4 trillion. The New Southern Policy is the Moon Jae-in administration’s key foreign economic policy and reflects its strong commitment to prosper together with the ASEAN coun
Industry Dec. 16, 2018
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HHI builds eco-friendly power plant in Colombia
Hyundai Heavy Industries has completed building an eco-friendly power plant in Colombia’s northern port city of Santa Marta, with its own dual-fuel engine, HiMSEN, according to the Korean shipbuilder on Sunday. In February of last year, Hyundai Heavy Industries won an $80 million contract from Colombian private power company Axia to build a 93-megawatt power plant. Termonorte power plant constructed by Hyundai Heavy Industries in Colombia (HHI)The firm said its own dual-fuel engine HiMSEN has si
Industry Dec. 16, 2018
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US-China trade conflict may pose risks to Korean chip makers: report
A continued battle between the US and China to fight for global technological hegemony may pose higher risks to Korea’s two-biggest memory chipmakers, Samsung Electronics and SK hynix, next year, according to a report released by the Korea International Trade Association on Monday.During the latest G-20 summit, the US and China temporarily agreed to a cease-fire over their prolonged trade war. However, it will not be easy for the two nations to reach a sustainable agreement as the essence of the
Industry Dec. 10, 2018
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[Herald Interview] ‘Automation won’t reduce jobs but workers need to be protected in digital era’
The fear of losing jobs due to automation will not become reality, as innovation will continue to create jobs, according to World Bank Group Senior Director Michal Rutkowski. Still, nations should consider how to better protect workers in the changing work environment driven by technology advances, he added. The notion that automation makes traditional jobs obsolete has always been a source of frustration for blue-collar workers. With the advancement of artificial intelligence and robotics, the
Industry Dec. 9, 2018
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Samsung Electronics wins KITA’s top exporter award
Top exporters including Samsung Electronics, Pubg, L&F and Intellian Technologies on Friday received awards out of 1,264 exporters that have contributed to the nation’s achievement of $600 billion in exports this year. They received awards at an annual ceremony held by the Korea International Trade Association to mark the 55th Day of Trade. KITA CEO Kim Young-ju (Yonhap)The event was attended by President Moon Jae-in, Minister of Trade, Industry and Energy Sung Yun-mo, KITA CEO Kim Young-ju and
Industry Dec. 7, 2018
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[Weekender] Massage no longer taboo or luxury
In South Korea, the image of massage services has long been negative, viewed in relation to illicit sexual service providers. Either that, or massages were seen as the prerogative of the elite at posh and luxurious spas.Now, with growing interest in health services amid increasingly sedentary lifestyles and the consequent branching out of massage to become more affordable and accessible, it has become a common way to relieve stress and pain for many Korean urbanites. In Seoul, you can easily fin
Culture Dec. 6, 2018
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Korea, China, Japan to discuss regional free trade deal in Beijing
Representatives of South Korea, China and Japan are to discuss a regional free trade deal in Beijing from Thursday to accelerate negotiations on market liberalization for products, services and investment, the Seoul government said Wednesday. The two-day negotiations will be attended by senior trade officials representing the three nations, who will discuss ways to open up goods and services markets and lower other trade barriers, the Ministry of Trade, Industry and Energy said. This is the 14th
Industry Dec. 5, 2018
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KITA hosts trade fair with global retail buyers
The Korea International Trade Association is hosting a two-day trade fair from Tuesday to match global retail buyers and local exporters in Seoul. The 11th Korea Grand Sourcing Fair 2018, sponsored by the Ministry of Trade, Industry and Energy, the Ministry of Oceans and Fisheries and KB Kookmin Bank, is taking place at the Coex Convention and Exhibition Center with 118 buyers from 24 nations and around 600 Korean companies. KITA CEO Kim Young-ju (front left) talks with buyers at the 11th Korea
Industry Dec. 4, 2018
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[Herald Interview] Korea is attractive market despite regulations: AmCham CEO
The Korea Herald is publishing a series of features and interviews on South Korea’s business environment for foreign companies and investors. This is the twelfth installment. -- Ed.Regulation is a topic that frequently comes up among foreign companies doing business in Korea. And that makes sense, as Korea ranks 51st among 67 countries on the FDI Regulatory Restrictiveness Index compiled by the Organization for Economic Cooperation and Development. However, James Kim, chairman of the American Ch
Industry Dec. 3, 2018
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Trade experts urge Korean Inc. to diversify markets, products
South Korean exporters should diversify their markets and products, as uncertainties in world trade due to conflicts between the US and China could continue, and slow growth in emerging nations could weigh down markets, according to trade experts at a seminar in Seoul on Friday. “A slow growth rate in China and emerging nations, alongside the US, Europe and Japan, could increase the external risks” of the export-led nation that constitutes the world’s fifth-largest export economy, said An Sung-b
Industry Dec. 2, 2018
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‘Roles of government, businesses critical for well-being of citizens’
Governments and companies both play important roles in improving the well-being of citizens, said renowned academics on Wednesday, the second day of the sixth OECD World Forum that kicked off under the theme of the future of well-being. Jeffrey D. Sachs, a professor of economics at Columbia University, said that to improve the well-being of people, trust between the government and society should be rebuilt. “As the world is facing many challenges, such as environmental harms, risks of wars and n
Industry Nov. 28, 2018
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[Global Finance Awards] KEB Hana Bank sweeps financial awards
KEB Hana Bank swept global awards from renowned financial publications this year, solidifying its status as a representative private bank in Korea. Early this month the bank was acknowledged as the best private bank in Korea at the 10th Global Private Banking Awards in London. The event was jointly hosted by two UK publications, The Banker and Professional Wealth Management. The Banker is a monthly international financial affairs publication, and Professional Wealth Management is a magazine
Market Nov. 28, 2018
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European firms call for more deregulation in Korea
European companies doing business in South Korea called on the Korean government to bring the nation’s business regulations in line with international standards, a step they said would benefit both foreign firms doing business here and domestic exporters in the global market, during a press conference in Seoul on Tuesday. Since the Korea-European Union free trade deal was implemented in 2011, the trade volume between the two regions has gradually risen. The EU is currently the largest source of
Industry Nov. 27, 2018
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