Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Korea to continue to go nuclear-free despite Taiwan’s pro-nuclear move
Korea will maintain its stance on its anti-nuclear policy in the wake of heated debate over Taiwan’s latest referendum that voted in favor of repealing the nuclear phase-out, according to a senior government official of the Energy Ministry on Monday. “Taiwanese seemed to decide to abandon its anti-nuclear policy in the wake of a massive blackout in August last year. Although our policy direction is somewhat similar to Taiwan, there are also differences,” a senior official of the Ministry of Trad
Industry Nov. 26, 2018
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Korean government to order 140 LNG ships by 2025
The Korean government will order 140 liquefied natural gas ships, worth 1 trillion won ($880 million), from the nation’s small and midsized shipbuilders by 2025, and provide 1.7 trillion won in financial assistance, officials said Friday.“In order to set small and midsized shipbuilders apart from their rivals from China and Japan, it is necessary for them to be first movers in the eco-friendly shipbuilding market,” said Yoon Sung-hyuck, chief of the Ministry of Trade, Industry and Energy’s shipb
Industry Nov. 23, 2018
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Korean businesses demand right to purchase renewable energy
Samsung Electronics and 11 large South Korean companies pledged to expand the use of renewable energy and called for the creation of a system that would enable businesses to purchase renewable energy during an energy forum in Seoul on Thursday. The 12 companies, including Samsung Electronics, SK hynix, Shinhan Financial Group, KB Financial Group, Industrial Bank of Korea, AB InBev and Ikea Korea, announced in a joint statement, “We recognize the importance of companies’ responsibility and roles
Industry Nov. 22, 2018
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Bohol, island close to unexplored nature
BOHOL, the Philippines -- When you think about the Philippines, your first thoughts might be of Cebu or Palawan. But if you want to experience a travel destination that is more natural, more unexplored, Bohol -- the country’s 10th-largest island -- may just be perfect. Bohol, which boasts dense forests and amazing beaches with crystal-clear water, offers diverse marine activities such as swimming, snorkeling and scuba diving. There are also two unique attractions that you cannot experience elsew
Travel Nov. 22, 2018
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FTC to report Kumho head to prosecutors over unfair internal transactions
The chairman of Kumho Asiana Group, a South Korean conglomerate with businesses in the logistics and airline industries, is slated to be reported to prosecutors by the nation’s antitrust watchdog over the alleged arrangement of unfair internal transactions with affiliates, according to local media outlets on Wednesday.According to the reports, the Fair Trade Commission is preparing to report Chairman Park Sam-koo and several executives to prosecutors over alleged violations of the fair trade law
Industry Nov. 21, 2018
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Korea accelerates post-Brexit trade deal with UK
South Korea is slated to hold a public hearing on Wednesday on a move for a free trade agreement with the UK in an effort to cushion risks posed to Korean firms doing business in the UK after Brexit. Official negotiations of the trade deal may start as early as next year if all trade procedures go smoothly. Since Britons voted in a June 2016 referendum to leave the European Union, the Korean government has been making efforts to retain and develop relations with the UK in response to changes in
Industry Nov. 20, 2018
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KITA hosts meeting to boost trade between Korea, US
The Korea International Trade Association hosted a meeting Monday between US Ambassador to South Korea Harry Harris and executives from major Korean conglomerates doing business in the US, in an effort to boost trade.KITA CEO Kim Young-ju (left) and executives from Korean conglomerates meet with US Ambassador to South Korea Harry Harris (right) and other representatives from the US Embassy, in an effort to boost trade between the two nations, in Seoul on Monday. (KITA)The meeting held in Seoul w
Industry Nov. 19, 2018
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Korea Gas Corp. aims to take lead in global LNG
Korea Gas Corp. aims to take the lead in the global market with its liquefied natural gas business on the back of its stable business at home. Liquefied natural gas is widely considered a “clean” fuel because dust, sulfur and nitrogen are removed in the liquefaction process, therefore lower levels of pollutants are emitted when it burns. It also presents a lower risk of explosion even if it leaks, as the gas tends to dissipate in the air. Korea Gas Corp. holds a ceremony to mark the beginning of
Industry Nov. 19, 2018
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Amid trade tensions, RCEP to open broader market access for Korea
Ongoing negotiations toward an ASEAN-led mega trade deal will benefit South Korea by opening doors to new export markets -- particularly the world’s fastest-growing economy, India.Negotiations for the Regional Comprehensive Economic Partnership, launched in 2012, involve 10 ASEAN members and six Asia-Pacific countries: Korea, Australia, China, India, Japan and New Zealand. On Wednesday last week, leaders of the 16 nations met in Singapore and agreed to finalize the trade deal in 2019. If conclud
Industry Nov. 18, 2018
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SK Innovation selected as battery supplier for VW Group
SK Innovation has been selected as a supplier of battery cells for electric vehicles of German automaker Volkswagen Group, becoming the group’s third partner, along with LG Chem and Samsung SDI, according to SK Innovation on Wednesday. (AP/Yonhap)Under the automaker’s road map “E,” Volkswagen plans to unveil 50 types of electric cars by 2025, based on its MEB platform, a modular car platform for electric cars developed by the group and its subsidiaries. It will need battery capacity of over 150
Industry Nov. 14, 2018
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Naver Labs, SoCar partner for self-driving technologies
Naver Labs, the research and development arm of search engine giant Naver, and local car-sharing firm SoCar have signed an agreement to cooperate in the development of driver assistant technologies and detailed maps based on self-driving technologies, according to the firms on Wednesday. Under the agreement, Naver Labs will be in charge of developing an advanced driver-assistance system and detailed maps, to contribute to the safety of SoCar drivers. An advanced driver-assistance system has safe
Industry Nov. 14, 2018
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Korean tech giants increasingly embracing smart factory
A paradigm shift is taking place in the Korean manufacturing sector as conglomerates are increasingly embracing smart manufacturing with the goal of improving production efficiency and reducing risks using technologies of artificial intelligence, big data and internet of things, according to the patent office on Tuesday. Smart manufacturing is artificial production processing with the goal of optimizing concept generation, production, and product transaction via the use of the latest information
Industry Nov. 13, 2018
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Ministry denies Japan’s accusation that shipbuilding subsidies break WTO rules
The Korean government on Wednesday denied the Japanese government’s claim that Seoul breached international trade rules, saying its decision to provide subsidies to ailing shipbuilders complies with the rules. Officials at South Korea’s Trade Ministry said they are willing to talk with their Japanese counterparts, amid reports that Japan is preparing to file complaints to the World Trade Organization.DSME“We will recheck whether the issues raised by Japan breach trade laws,” said a statement rel
Industry Nov. 7, 2018
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LS Cable & System joins AIIB project in Oman
LS Cable & System is slated to join a communications network building project that is being financed by the Asian Infrastructure Investment Bank, according to the firm on Tuesday.The nation’s largest cable provider said it was selected as one of the companies that will build a broadband communications network in Oman led by its government and state-run mobile operator Oman BroadBand. The broadband network project is being carried out for the first time at the national level. By 2021, the first s
Industry Nov. 6, 2018
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Reimposition of Iran sanctions spells uncertainty for Korean businesses
South Korean companies doing business in Iran are facing uncertainty now that sanctions have been reimposed on the Middle Eastern country, despite the waiver that Korea received. They say their business could suffer as the exemption is temporary and is strictly limited to oil. On Monday, the Trump administration said all the sanctions against Iran that were lifted as part of the 2015 nuclear deal will be reinstated. It then announced that eight nations, including Korea, had received waivers and
Industry Nov. 6, 2018
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