Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
15 countries, including Korea, to sign trade megadeal
Leaders from 15 Asia-Pacific countries, including South Korea, China, Japan, Australia and New Zealand, declared that they had reached agreement on all 20 chapters of a trade megadeal and expressed their willingness to sign it in 2020, officials said Monday. Called the Regional Comprehensive Economic Partnership, it is in essence a massive regional trade deal among the 10 members of the Association of Southeast Asian Nations and the six countries with which ASEAN has free trade agreements -
Industry Nov. 4, 2019
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46 foreign companies receive government awards for investment
Forty-six foreign companies received government awards for their investments in advanced technologies and for creating jobs in South Korea, during an annual event for foreign companies held Monday. Foreign Company Day, hosted by the Industry Ministry and the Korea Foreign Company Association, or FORCA, is a ceremony that has taken place since 2001 to recognize contributions to attracting foreign investment here. The 46 awardees include the Korean arm of US-based firm Air Products and Chemi
Industry Nov. 4, 2019
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South Korea’s exports decline for 11 straight months
South Korea’s exports have declined for the 11th consecutive month due mainly to a slowdown in demand for chips and the weak global economy, data showed Friday. According to the Trade Ministry, the nation’s exports stood at $46.7 billion last month, down 14.7 percent on-year, the biggest decline this year. Exports have fallen since December last year, and the decline has been double-digit for five months since June this year. By product, exports of chips shrank 32.1 percent, whi
Industry Nov. 1, 2019
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Korea to shorten travel time with underground roads, high-speed trains by 2030
South Korea is seeking to reduce travel time in heavily congested metropolitan areas by building deep underground roads and adding new high-speed train services by 2030, officials said Thursday.The Ministry of Land, Infrastructure and Transport announced its vision for “metropolitan transportation 2030,” presenting three goals: to shorten travel time in major regional hubs to 30 minutes, cut down travel costs by up to 30 percent, and reduce by 30 percent the time people spend transfe
Industry Oct. 31, 2019
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South Korea embarks on ambitious autonomous ship project
South Korea has embarked on an autonomous ship project by investing 160 billion won ($130 million), seeking to boost the domestic eco-friendly and smart shipping industry and achieve a 50 percent global market share by 2030.The Industry Ministry and the Oceans Ministry announced Wednesday that the project they are jointly pursing has passed the preliminary feasibility studies.The project aims to develop key technologies related to autonomous navigation and system autonomy while laying the founda
Industry Oct. 30, 2019
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HHI-DSME merger gets approval in Kazakhstan
Kazakhstan’s competition authority has recently notified its approval of the merger between the world’s two largest shipbuilders, said Hyundai Heavy Industries on Tuesday. According to HHI, the Kazakhstan government approved the tie-up with Daewoo Shipbuilding & Marine Engineering after comprehensively reviewing the definition of related markets and evaluating competition limitations.This is the first approval for the tie-up as the plan is currently undergoing a review in five ot
Industry Oct. 29, 2019
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South Korea’s top 1,000 firms spent W50tr on R&D last year
South Korea’s largest companies, including Samsung, Hyundai and LG, spent more on research and development and earned more in 2018 compared to the previous year, despite growing concerns about the slowing global economy, according to a local public institute on Monday. According to a new report released by the Korea Institute for Advancement of Technology under the Industry Ministry, the combined investment on research and development of 1,000 companies amounted to 49.7 trillion won ($42.5
Industry Oct. 28, 2019
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FTC probes Subway for power abuse allegations
South Korea’s antitrust watchdog is probing the US franchise Subway over an allegation that it forced a local franchisee to shut down his shop without a proper reason, said officials and local news reports Sunday. The Fair Trade Commission’s Seoul office recently concluded in its preliminary investigation that the American franchise might have violated the local franchise business law and filed the case to an in-house judging committee.The probe began as one store owner of Subway cha
Industry Oct. 27, 2019
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South Korea’s exports to turn around in 2020 Q1: report
South Korea’s declining exports are predicted to turn around in the first quarter of next year on the back of rising demand for chips and recovery in the global economy, a trade association said Sunday. “The nation’s exports are expected to bottom out this month and turn positive from the first quarter of next year due to the recovery in chip unit prices,” said Moon Byung-ki, a senior researcher at the Korea International Trade Association’s trend analysis division,
Industry Oct. 27, 2019
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Korean businesses eyeing Turkmenistan market
The Korea International Trade Association held the first Korea-Turkmenistan business council with the Turkmenistan Chamber of Commerce on Thursday in Seoul as a follow-up to the summit between the two nations held in April. The council was held to discuss how Korean companies can enter into promising fields in Turkmenistan such as energy, transportation, water environment and industries, including textiles, information and communications technology and shipbuilding, KITA said. The plenary s
Industry Oct. 24, 2019
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South Korea hosts renewable energy conference
South Korea is hosting an international renewable energy conference this week to discuss the global climate crisis and measures to expand renewable energy use with around 3,500 participants from 108 nations. The International Renewable Energy Conference, which kicked off Wednesday in Seoul, is a biannual energy forum. The three-day event is being attended by government officials from 59 countries, including the US, Germany and China, international organizations, including the International Renew
Industry Oct. 23, 2019
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FTC chief warns conglomerates of unfair intra-trading deals
South Korea’s top antitrust regulator warned Tuesday that unfair intra-trading deals would be closely monitored to see whether they benefit owner families of conglomerates, during a morning meeting attended by company executives, including from Samsung and Hyundai. “The Fair Trade Commission does not currently impose any specific sanctions or directly intervene in the operations of conglomerates for their high economic concentration or influence of owner families on the entire group
Industry Oct. 22, 2019
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South Korea’s ICT exports skid for 11th month
South Korea’s information communications technology exports have declined for 11 straight months due mainly to a slowdown in demand for memory chips, data showed on Monday. According to the Trade Ministry, Korea’s ICT exports stood at $15.8 billion in September, down 22 percent from the same period last year. The on-year decline has continued for 11 consecutive months since November last year. The shipment of chips last month stood at $8.5 billion, a 31.5 percent drop on-year. D
Industry Oct. 21, 2019
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[From the Scene] Hanwha automation boosts solar efficiency
JINCHEON, North Chungcheong Province -- At Hanwha Q Cells’ factory in Jincheon, North Chungcheong Province, there are hardly any workers. The five assembly lines -- 330 meters wide and 100 meters long -- are run by eight workers each. The high-quality solar cell and module manufacturer claims it is one of the most automated factories in the global industry. “Automation is important. When an employee touches cells or modules, fingerprints or microcracks can be left on the produc
Industry Oct. 16, 2019
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[Photo News] Foreign Company Day
FOREIGN COMPANY DAY -- Winners pose for a photo on 2018 Foreign Company Day in Seoul on Nov. 5, 2018. This year on Nov. 4, the Ministry of Trade, Industry and Energy is hosting 2019 Foreign Company Day at Grand InterContinental Seoul Parnas. Organized by the Korea Foreign Company Association, the annual event is held to acknowledge foreign-invested companies and related organizations that have contributed to the domestic economy. (FORCA)
Industry Oct. 15, 2019
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