Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
Kepco CEO pledges to accept civil liability for wildfire damage
Korea Electric Power Corporation CEO Kim Jong-kap on Wednesday apologized to residents of Gangwon Province who lost their homes in the recent wildfires and said the firm would accept civil liability for the damage. “We truly apologize to the victims as the fire started from facilities managed by Kepco,” Kim told local residents at a town office in Goseong, Gangwon Province. CEO Kim Jong-kap bows to local residents in a show of remorse for the recent wildfires that destroyed many of their homes.
Industry April 24, 2019
-
Iran sanctions alarm Korean petrochemical sector
As the US is set to end sanction exemptions for countries buying oil from Iran, South Korean petrochemical companies are anticipated to struggle in having to reduce their Iranian oil supplies. From May 2, eight nations, including Korea, Japan, China and India, will be banned from buying oil from Iran as the US government’s 180-day waiver ends. Iran is the fifth-largest exporter of crude oil to Korea, following Saudi Arabia, Kuwait, the US and Iraq. Imports of crude oil from Iran to Korea account
Industry April 23, 2019
-
Biodegradable plastic? Hanwha Chemical teams up with Yonsei to develop eco-friendly tech
Hanwha Chemical has established a research center together with Yonsei University to develop innovative eco-friendly technologies, the chemical firm said Monday. The research center, which will run for five years, will focus on five projects involving eco-friendly technologies as part of the firm’s efforts to adapt to climate change. Hanwha chemical websiteOne of the projects will involve using electrolysis to split water molecules to produce hydrogen, a promising alternative to the use of crude
Industry April 22, 2019
-
[Going Renewable (4)] Greenpeace calls on Hyundai Motor to hasten shift to carbon-neutrality
The Korea Herald is publishing a series of articles on the quest of South Korea’s government and businesses to switch to renewable energy. -- Ed.South Korea’s largest automaker Hyundai Motor should speed up its efforts in changing its business portfolio toward carbon-neutral in order to avert a major blow in the global market within a year or two, according to Greenpeace deputy director Jude Lee.Globally, countries are setting stricter climate targets in response to growing environmental concern
Industry April 21, 2019
-
Korea raises renewable energy target to 30-35 percent by 2040
South Korea plans to increase the proportion of energy generated from renewable sources to as much as 35 percent of the total by 2040 in response to growing environmental concerns, the government said Friday. The Ministry of Trade, Industry and Energy announced key points in the nation’s third energy master plan, to be implemented from 2019 to 2040. An energy master plan is the nation’s top-level power plan, established every five years to set forth a vision for its energy policies and strategie
Industry April 19, 2019
-
How big firms placate local resident protests
INCHEON -- Cherry blossoms were in full bloom and songs to usher in spring resonated along a tree-lined pathway on the grounds of SK Incheon Petrochem, in stark contrast to the industrious gray structures in the background. Couples pushing strollers and bigger family clusters strolled leisurely, snapping pictures and gazing at trees, enjoying the six-day flower festival at the firm’s headquarters last week. Behind that peaceful scene were the company’s desperate efforts to get along with its nei
Industry April 17, 2019
-
[Herald Interview] ‘Moon will do more for foreign investors’
Foreign firms in South Korea have often complained of being kept out of the loop when it comes to policy, including under the Moon administration, but recently the government has been moving to bridge the gap.A prime example was on March 28, when President Moon Jae-in held a meeting with leaders of foreign investors and related organizations at Cheong Wa Dae for the first time. Sixty-five representatives of foreign companies and organizations, including the chambers of commerce of US and Europea
Industry April 16, 2019
-
HHI wins $600m orders in 2 weeks
The world’s largest shipbuilder Hyundai Heavy Industries said Sunday it has signed contracts to build vessels, including liquefied natural gas carriers, valued at $600 million over the past two weeks. The Korean shipbuilder said it has signed a contract with a Greek company to build a 174,000 square-meter LNG vessel -- its latest deal in two weeks. HHI said it has signed contracts to make a total of five carriers, including LNG vessels, with Greek, Japanese and Korean firms. The names of the com
Industry April 14, 2019
-
LG G8 ThinQ launched in North America, Canada
LG Electronics launched its latest premium smartphone, the LG G8 ThinQ, in North America on Friday via major mobile carriers including Verizon Communications, AT&T, Sprint Corp. and T-Mobile, the tech firm said Sunday. (LG Electronics)The new model features a biometric unlock system that recognizes the pattern of veins on a user’s palm. It also has a fingerprint sensor and a rear camera assembly that is flush with the glass. In addition, the call-receiver speaker has been removed to allow the or
Industry April 14, 2019
-
[Eye Plus] Korea’s oldest throne hall open to public
South Korea’s oldest throne hall has been opened to the public for the first time, displaying the beauty of the 17th century hall. (Photo credit: Park Hyun-koo/The Korea Herald)The main hall of Changgyeong-gung Palace, Myeongjeongjeon, is where the king attended to state affairs, holding meetings with officials and receptions of foreign envoys. (Photo credit: Park Hyun-koo/The Korea Herald)Originally built in the mid-15th century by King Sejong of Joseon Dynasty, it was destroyed during the Jap
Culture April 11, 2019
-
Korea pushes international standards for online EVs, hydrogen energy
The Korean Agency for Technology and Standards has called for setting international standards for new electric vehicle and hydrogen energy technologies. It has also requested support to be elected as a member of the International Organization for Standardization’s council board at the 42nd Pacific Area Standards Congress in Wellington, New Zealand. The Pacific Area Standards Congress is a forum of standardization organizations from the Pacific area that meets to discuss international standardiza
Industry April 10, 2019
-
Korean steelmakers expect bleak Q1 earnings
South Korea’s steel industry is likely to see weak corporate earnings in the first quarter of this year due to a price surge in raw materials, a fall in steel prices and growing trade protectionism. According to corporate tracker FnGuide, the market consensus forecast the nation’s largest steelmaker Posco would see operating profit fall 22 percent to reach 1.1 trillion won ($962 million) in the first quarter of this year. During the same period, Hyundai-Steel and SeAH Besteel are estimated to se
Industry April 9, 2019
-
Korea to call on EU to ease trade barriers on steel, automobiles, pharmaceuticals
South Korea is slated to call on the European Union to ease trade barriers on some Korean products during its meeting Tuesday with the EU, as its trade deficit with the EU remains high, according to the government on Monday. The eighth meeting on the Korea-EU free trade deal, attended by Trade Minister Yoo Myung-hee and EU Trade Commissioner Cecilia Malmstrom, will be held in Seoul. During the meeting, the Korean side plans to ask for the improvement of export conditions for Korean firms in the
Industry April 8, 2019
-
[Going Renewable (3)] Why can’t Samsung join RE100?
The Korea Herald is publishing a series of articles on the quest of South Korea’s government and businesses to switch to renewable energy. -- Ed.Going green is becoming mainstream for big tech players. Amazon, Apple, General Motors and BMW are among the 169 multinational firms that have joined RE100, a global initiative to reach the goal of 100 percent renewable electricity. And now the global players are starting to aim even higher and encouraging their suppliers to go carbon-free. Samsung Elec
Industry April 7, 2019
-
Disconnect switch may have caused coastal forest fire: Kepco
The devastating forest fire in the town of Goseong, Gangwon Province, may have been caused by a disconnect switch on a utility pole, the state-run power utility said Friday. In the early morning, the nation’s emergency management agency said the fire appeared to have started when a transformer exploded near a resort in the town of Goseong. (Yonhap)But a few hours later, the state-run Korea Electric Power Corporation, which manages both transformers and disconnect switches, said, “There was no tr
Industry April 5, 2019
Most Popular
-
1
Korean industries gauge impact of Biden's steep tariffs on China
-
2
Do Korean doctors make too much money?
-
3
Is FTC's conglomerate listing a boon or bane for Hybe?
-
4
NewJeans to headline palace show
-
5
Coupang's Kim Bom escapes chaebol chief designation again
-
6
Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
-
7
CIO chief nominee to explain allegations at confirmation hearing
-
8
Yoon vows to run country 'rightly' on Buddha's birthday
-
9
[Bridge to Africa] S. Korea-to-Zimbabwe value chains can foster ‘win-win’ cooperation
-
10
Why Korean crime stories typically feature nameless, faceless perpetrators