Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Companies on alert as COVID-19 cases surge
As the coronavirus has resurged rapidly in the Greater Seoul area in recent days, industries are on alert again, fearing their business could face another bout of shutdowns. Many major companies resumed their remote work policies, or have flexible working hours to protect their workplace. Most large firms, including Samsung, LG, SK, KT, Posco and Hyundai Motor have a painful history of closing down their plants and office buildings due to coronavirus patients when the pandemic peaked in spr
Industry Aug. 20, 2020
-
Kia Motors loses nine-year wage lawsuit
Kia Motors has lost a nine-year wage lawsuit filed by workers as the Supreme Court ruled in favor of the employees on Thursday. The automaker has to pay about 50 billion won ($42 million) to its 3,521 union members. In 2011, about 27,000 employees of Kia Motors filed a lawsuit claiming that overtime, night, holiday and annual leave allowances should be recalculated after including regular bonuses, daily expenses and lunch expenses in ordinary wages. The workers claimed around 1 trillion won
Mobility Aug. 20, 2020
-
[Monitor] Companies invest more despite falling profits
South Korea’s conglomerates increased their investment in the first half of this year despite a drop in operating profit due to the pandemic, data showed Wednesday. Local corporate tracker CEOScore analyzed 374 companies within 64 large business groups in the first half of this year. The result showed that the firms’ operating profit dropped 25 percent on average year-on-year in the wake of the pandemic. Still, their investments increased 15.8 percent to reach 43.2 trillion won
Industry Aug. 20, 2020
-
LG Chairman selected as sustainable global leader by UN
LG Group Chairman Koo Kwang-mo has been selected as one of the 100 sustainable global leaders in 2020 by the United Nations, the organization said Wednesday. Koo was named in the list of the Global Sustainable Leaders 100 as selected by the Association for Supporting the SDGs for the UN under the United Nations Economic and Social Council. Other selected global leaders include Microsoft founder Bill Gates, Apple CEO Tim Cook, Tesla CEO Elon Musk and Google CEO Sundar Pichai. Korean corpor
Industry Aug. 19, 2020
-
Posco International sells steel on online platform
Posco International is set to boost online trading of steel in partnership with local steel e-commerce operators, the firm said Wednesday. The trading firm said it signed a business agreement with four steel e-commerce operators, Sinsteel, Chungnam Steel, Daeduck Steel and Steelman Networks. Through the agreement, they plan to connect each company’s sites in the form of banners on the online transaction site Steel Trade -- which was opened by Posco International in November last year
Industry Aug. 19, 2020
-
Committee launched for Korea-World Chinese Entrepreneurs Business Week
An organizing committee for the Korea-World Chinese Entrepreneurs Business Week 2020 was launched by Changwon City, the regional government said on Wednesday. The Korea-World Chinese Entrepreneurs Business Week 2020 is a business-oriented event that provides a venue for global Chinese enterprises and Korean companies to interact with each other. It will be held for three days from Nov. 12 to 14 at the Changwon Exhibition and Convention Center. The event will be hosted by South Gyeongsa
Industry Aug. 19, 2020
-
Kumho Tire supplies tires for popular small SUVs
Kumho Tire has retained its No. 1 spot in domestic sales by supplying tires for new small sport utility vehicles, the tire maker said Tuesday. Currently, small SUVs have been steadily gaining popularity in South Korea’s auto market with their reasonable price and good performance. Kumho Tire said it has recently supplied new tires to the majority of the popular compact SUVs, including Renault Samsung XM3 and Kia Motors Seltos. Kia Seltos’ 16- and 17-inch wheels and Renault Sam
Mobility Aug. 18, 2020
-
Korea puts brakes on Tesla’s unfair terms
South Korea’s antitrust watchdog has ordered the world’s No. 1 electric vehicle maker Tesla to correct unfair terms and conditions related to automobile sales here, officials said Tuesday. They included Tesla having buyers fully responsible for picking up the vehicle or for any damage inflicted on the vehicle during the purchase. Tesla, which entered Korea in 2017 with premium electric vehicles, Model S and Model X, has seen its sales surge since the launch of entry-level Model 3
Mobility Aug. 18, 2020
-
Hyundai Motor, BBQ in trademark lawsuit over Genesis brand
Hyundai Motor and local chicken franchise Genesis BBQ are engaged in a lawsuit over the trademark rights of “Genesis.” Hyundai Motor, which launched the Genesis brand in 2015, has been in a legal battle with BBQ for dozens of trademark rights since 2016. The automaker has been asking for the cancellation of the trademark rights held by BBQ in some areas. The automaker was allowed to use the Genesis brand only related to automobiles because BBQ had registered trademark rights for
Industry Aug. 17, 2020
-
Genesis surpasses Benz, BMW as most sold premium brand
Hyundai Motor’s premium brand Genesis surpassed Mercedes-Benz in sales for the first time in four years in the local market, industry data showed Monday. According to the auto industry, Genesis sold 60,005 vehicles in the January-July period this year, while Mercedes-Benz and BMW sold 41,583 and 29,246, respectively. Sales of Genesis jumped 65 percent compared to the same period last year. Mercedes-Benz, on the other hand, increased 3 percent and BMW rose by 35 percent. In 2016, the
Mobility Aug. 17, 2020
-
Hyundai Glovis, Incheon Airport partner on parking robots
Hyundai Glovis said Thursday it has partnered with Incheon International Airport Corp. to establish a smart parking system. The South Korean logistics firm has signed an agreement with the IIAC to establish a test bed for smart parking. The signing ceremony was attended by CEO Kim Jung-hoon and IIAC President Koo Bon-hwan. Under the agreement, the company plans to carry out smart parking system projects in three stages, including technical verification of parking robots, pilot operation of
Mobility Aug. 13, 2020
-
SsangYong pressed to find new investor
SsangYong Motor is facing increased pressure to find new investors as it struggles to stay financially afloat as one of its local creditors withdrew their loans. Industry sources said KB Kookmin Bank has recently recovered all loans from SsangYong Motor, the balance of which stood at 8.75 billion won ($7.39 million) as of the end of the first quarter. The move puts the automaker under more pressure to repay other borrowings in time, with 389.9 billion won worth of loans coming due over the ne
Mobility Aug. 13, 2020
-
Chevrolet Trailblazer on top 10 best user experience list
GM Korea said Thursday its Chevrolet Trailblazer has been awarded the annual Wards 10 Best UX list by US automotive analysis provider WardsAuto. WardsAuto has been selecting 10 best user experience vehicles since 2016 by assessing the user-friendly technology such as touchscreens, smartphone pairing, voice-control navigation, head-up displays and the effectiveness of driver-assistance technologies such as adaptive cruise control and blind spot monitoring. A total of 18 models with new or hi
Mobility Aug. 13, 2020
-
[From the Scene] HMM St. Petersburg ready for record haul
GEOJE, South Gyeongsang Province -- HMM St. Petersburg is the world’s largest container ship, capable of carrying 24,000, 20-foot container boxes at once. The vessel is about 400 meters long, 61 meters wide and 33.2 meters high, and the deck is about 400 meters. HMM St. Petersburg is the last 24,000 TEU, or twenty-foot equivalent units, vessel of 12 super-large ships built as part of South Korea’s five-year plan to rebuild the country’s shipping industry. Sev
Mobility Aug. 12, 2020
-
HMM sells stake in Algeciras terminal
HMM said Monday it has secured stable business for Spain’s container terminal Total Terminal International Algeciras through strategic partnership with French shipping company CMA CGM. The South Korean shipping firm said it has signed a contract to sell a 50 percent stake in Algeciras container terminal to CMA CGM. HMM still maintains its status as the largest shareholder by holding 25 million plus one shares through a special purpose company. Through the contract, HMM can secure pr
Industry Aug. 10, 2020
Most Popular
-
1
[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
-
2
[Exclusive] Korean military set to ban iPhones over 'security' concerns
-
3
Yoon seeks rebound, taps 5-term lawmaker as chief of staff
-
4
Medical standoff deepens as doctors reject new med school plan, talks
-
5
[Herald Interview] Why Toss invited hackers to penetrate its system
-
6
[Graphic News] 77% of young Koreans still financially dependent
-
7
Korean, Romanian leaders discuss defense tech, nuclear energy
-
8
S. Korean envoys convene to navigate strategy amid Middle East tensions
-
9
North Korea fires several short-range ballistic missiles into sea: JCS
-
10
Samsung, SK hynix investors dump shares on Nvidia crash