Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Asiana Airlines turns to surplus in earnings surprise
Asiana Airlines posted an operating profit over 100 billion won ($84 million) in the second quarter, for the first time in six quarters, according to the firm’s regulatory filings Friday. The nation’s flag carrier said its operating profit was tentatively estimated at 115.1 billion won in the April-June period. Quarterly sales fell 44.7 percent to 818.6 billion won year-on-year. Net profit turned to a surplus of 116.2 billion won. Similar to Korean Air, the cargo sector led
Mobility Aug. 7, 2020
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LG Chem shares surge on rosy EV outlook, ranks third on Kospi
Share prices of LG Chem, Korea’s leading battery maker, jumped nearly 10 percent on Friday on expectations of rising demand for electric vehicles, ranking third in market capitalization in the nation’s securities market. LG Chem shares rose 9.71 percent from the previous trading day to close at 746,000 won ($629). At one point during the day, the price rose 11.47 percent to 758,000 won from a day earlier, hitting another record high. LG Chem’s market value has su
Technology Aug. 7, 2020
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Hyundai Motor, Urban-Air Port to develop urban air mobility
Hyundai Motor will join hands with British mobility company to speed up the development of infrastructure related to urban air mobility, the automaker confirmed Thursday. Hyundai Air Mobility, a unit of Hyundai Motor Group, and UK-based Urban-Air Port agreed to partner to jointly develop infrastructure for urban air mobility, which is urban transportation systems to move people and cargo by air, according to Hyundai Motor. Under the partnership, Hyundai Air Mobility and Urban-Air Port plan
Mobility Aug. 6, 2020
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Mercedes-Benz Korea appoints Vice President Kim Jee-seop as interim CEO
Mercedes-Benz Korea said Wednesday it appointed Kim Jee-seop, vice president of customer services department, as interim president and CEO. Bjorn Hauber, president of Mercedes-Benz Sweden and Denmark, was originally appointed as the president and CEO of Mercedes-Benz Korea as of August 1, but could not take the position due to personal reasons, the automaker said. Kim joined Mercedes-Benz Korea in 2002 through the Mercedes-Benz Global Asia Management Associate Program. He worked at the Da
Mobility Aug. 5, 2020
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Posco International, RDA to support Myanmar‘s farming market
Posco International and the Rural Development Administration will jointly support farmers in Myanmar and strengthen the value chain of food projects through public-private cooperation, the company said Wednesday. The nation’s largest trading company said it has signed a memorandum of understanding with the RDA to improve the value chain of Myanmar’s rice business, ranging from variety, cultivation, processing and distribution. The ceremony, held in Posco International’s Se
Industry Aug. 5, 2020
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Coupang, LG Chem narrow gap with global No. 1 firms
Seven Korean companies, including Coupang and LG Chem, have narrowed their revenue gap with global No. 1 companies over the past five years, data showed Wednesday. Local corporate tracker CEOScore surveyed revenues of the world’s No. 1 companies and No. 1 firms in Korea in their respective fields from 2014 to 2019. The results showed that Korean companies narrowed the sales gap with the global No. 1 companies compared to five years ago in seven industries: including chemicals, pharmace
Industry Aug. 5, 2020
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[Herald Interview] ‘Opportunities lie ahead for Europe, Korea in sustainability’
The new chief of the European Chamber of Commerce in South Korea believes there are many opportunities for Korean and European companies to cooperate in sustainability areas in the future. “In Europe, sustainability, particularly environment, has been a strong focus for many years and there are many technologies developed related to clean energy. I can see many opportunities for cooperation between European and Korean companies in the areas,” said Dirk Lukat, a new chairperson of
Industry Aug. 5, 2020
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Hyundai Motor’s US sales turns positive in 5 months
Hyundai Motor’s sales in the US market rose slightly over a period of five months, after struggling from the pandemic. Hyundai Motor America said Tuesday it reported total sales of 57,677 units last month in the region, a 1 percent increase from a year ago. Sales grew 4 percent, marking the third consecutive month of increase. Sport utility vehicles pulled up the performance, representing 67 percent of the total retail mix and growing by 16 percent on-year. Flagship SUV Palisade sales
Mobility Aug. 4, 2020
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Korean shipbuilders win consecutive orders despite pandemic
South Korean shipbuilders have won orders one after another in recent months after suffering from a dismal performance in the first half of this year. Expectations are growing that they will continue to win more liquefied natural gas carrier orders in the latter half despite the pandemic. Korea Shipbuilding & Offshore Engineering, the shipbuilding holding unit of Hyundai Heavy Industries Group, said Tuesday it had won orders worth more than 1 trillion won ($837 million) in a week. KSOE
Mobility Aug. 4, 2020
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[News Focus] Family feud simmers at Korea’s largest tiremaker
When the chief of Korea’s largest tiremaker sold all his stock in the company to his second son on June 30, the succession appeared to have proceeded smoothly. But it had not. The simmering family dispute has come to light because the chairman’s daughter took issue with the handover. On Thursday, Cho Hee-kyung, the eldest daughter of group Chairman Cho Yang-rai, applied to be her father’s guardian -- requesting the legal authority to care for the personal and property interes
Industry Aug. 3, 2020
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Hanmi Pharmaceutical founder dies at 80
Hanmi Pharmaceutical’s founder and chairman, Lim Sung-ki, died of a chronic disease Sunday at dawn after devoting his life to the South Korean bio industry. He was 80. Lim was the owner of Hanmi Pharmaceutical Group and the largest shareholder of Hanmi Science, the group’s holding company. Born in 1940 in Gimpo, Gyeonggi Province, Lim graduated from Chung-ang University’s college of pharmacy. He opened the Lim Sung-ki Pharmacy in Dongdaemun, Seoul, in 1967 and went on to
Industry Aug. 2, 2020
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Korea allows large firms to hold venture capital units
South Korea will allow holding companies of conglomerates to run corporate venture capital units in order to boost investment in startups and invigorate the economy, officials said Thursday. The government said it will also prepare tools to quell concerns of side effects, such as the excessive influence of conglomerates in the financial sector. “We will allow general holding companies to own affiliates for corporate VCs,” Deputy Prime Minister and Finance Minister Hong Nam-ki said
Industry July 30, 2020
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Antitrust watchdog fines SPC W65b, reports head to prosecutors
Korea’s antitrust watchdog has decided to impose a fine of 64.7 billion won ($54.1 million) on food giant SPC for violation of antitrust laws, officials said Wednesday. The Fair Trade Commission is also set to report Chairman Hur Young-in, former group CEO Cho Sang-ho and former Paris Croissant CEO Hwang Jae-bok to prosecutors. “The investigation found that the chief was involved in supporting Samlip in diverse ways on the group level,” an FTC official said. Samlip is the
Industry July 29, 2020
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[Behind the Wheel] Mercedes-Benz’s upgraded AMG GT gives more invigorating drive
YONGIN, Gyeonggi Province -- “The ultimate sports car, spearheading AMG family. I love to call it our street legal racing machine.” Mark Raine, vice president of product & marketing at Mercedes-Benz Korea, proudly presented a face-lifted model of the AMG GT 2-Door Coupe to press at the AMG Speedway, its racetrack located in Yongin, Gyeonggi Province, on a sunny Friday in July. Five years have passed since Mercedes-Benz Korea introduced the classic AMG GT 2-Door Coupe sports car
Mobility July 29, 2020
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Large firms cut more than 11,000 jobs during pandemic
South Korea’s top 500 companies by assets have cut more than 11,000 jobs as the new coronavirus has continued to spread, data showed Wednesday. Local corporate tracker CEOScore surveyed the number of national pension fund subscriptions among the nation’s 500 largest companies between February and June. The pension fund subscription -- which is mandatory for regular workers -- is often used as a barometer for employment trends here. The survey showed that the 500 firms’ sub
Industry July 29, 2020
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