my timesThe Korea Times
hyunbin

Kim Hyun-bin

Korea Times Digital Media Reporter

Kim Hyun-bin began his journalism career at Arirang TV from 2012 to 2017, specializing in defense, foreign affairs and the economy. In 2018, he joined The Korea Times, covering society and business, and is currently responsible for embassy affairs.

Go to Email

Read more

Companies

Korean Air to complete acquisition of Asiana in 2023

Hanjin Group Chairman Cho Won-tae / Courtesy of Korean AirBy Kim Hyun-binCho Won-tae, chairman of Hanjin Group, said the aviation industry will get back on track this year, and asked Korean Air employees to help complete the acquisition of Asiana Airlines in his New Year address.“We've seen a glimpse of normalization and the?airports are beginning to bustle with passengers whom we have missed dearly. We also found hope and pleasure in returning to work to see our colleagues,” Cho said in his New Year message that was posted on the company's employee website, Monday. “We need to identify in advance our customers' preferred destinations and services, and analyze when and where to add operations as well as which services to enhance.”??Amidst growing economic uncertainties, Cho assured his colleagues that the?airline is confident and ready to move forward. “There have been numerous challenges in our way, but we've always overcome and leveraged them to create new opportunities. We're armed with more than half a century of experience and will use this insight

Jan 3, 2023By Kim Hyun-bin
Korean Air to complete acquisition of Asiana in 2023
Companies

POSCO, KT, Samsung SDI chiefs stress sustainable growth, global expansion

From left, POSCO Group Chairman Choi Jung-woo, KT Group Chairman Ku Hyeon-mo, and Samsung SDI CEO Choi Yoon-ho.By Kim Hyun-binThe POSCO, KT and Samsung SDI chiefs have set securing sustainable competitiveness as their goal to overcome the external uncertainties this year, highlighted during the three companies' New Year's addresses, Monday. POSCO Group Chairman Choi Jung-woo says he will focus on securing growth opportunities and sustainable competitiveness during the difficult business environment this year due to the rise of interest rates, inflation and other external difficulties the company faces."The world economy is expected to face a decline in growth rates and a full-blown economic recession as monetary tightening and geopolitical risks continue," Chairman Choi said in his New Year's address, Monday. "However, a known crisis is no longer a crisis, and there are hidden opportunities. We will make efforts to secure growth opportunities and sustainable competitiveness during the crisis. The POSCO Group will grow into a bigger and stronger company." In addition, POSCO Group plan

Jan 2, 2023By Kim Hyun-bin
POSCO, KT, Samsung SDI chiefs stress sustainable growth, global expansion
Companies

POSCO International aims to become global energy powerhouse

POSCO International CEO Jeong Tak gives an inaugural address at the company's headquarters, Monday, in Songdo, Incheon. Courtesy of POSCO InternationalBy Kim Hyun-binThe merger between POSCO International and POSCO Energy will fuel the company's global energy competitiveness and help create a global powerhouse for the energy sector, the company said, Monday. The integrated corporation of POSCO International and POSCO Energy was officially launched on Jan. 1.Last week, POSCO President Jeong Tak was promoted to vice chairman and was appointed as the new CEO of POSCO International.POSCO International CEO Jeong Tak The company is expected to rake in annual sales of 40 trillion won ($31.5 billion) and an operating profit of more than 1 trillion won, putting it in 11th place in terms of domestic corporate sales in 2021. The merger increased management stability through strengthening the business structure, rebranding as a global eco-friendly energy company and improving the potential to accelerate new growth businesses, the company said.“We will add our trading capabilities to our co

Jan 2, 2023By Kim Hyun-bin
POSCO International aims to become global energy powerhouse
Companies

Chaebol tycoons brace for unprecedented biz environment in 2023

From left, Hyundai Motor Group Executive Chair Chung Euisun, Samsung Electronics Chairman Lee Jae-yong, LG Group Chairman Koo Kwang-mo, and SK Group Chairman Chey Taewon. / Graphic by Cho Sang-wonSamsung, SK, Hyundai Motor, LG to expand presence in US amid increasing protectionism By Kim Hyun-binMajor conglomerate chiefs face grave uncertainties in the new year as a global economic downturn, inflation and rising interest rates are expected to continue. Attention is on how the “chaebol,” or large Korean conglomerates run and controlled by an individual or family, will adapt and grow in these challenging times, according to analysts and industry officials.Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will be tasked with coping with the unprecedented slump in the memory semiconductor market as profitability is in a free fall.The decline in the performance of Samsung Electronics and SK hynix is due to the price of DRAM memory chips, the main product of both companies, which has continued to decline due to the sagging economy and interest rate hi

Dec 30, 2022By Kim Hyun-bin
Chaebol tycoons brace for unprecedented biz environment in 2023
Companies

Hyundai Motor set to hire new technical staff for first time in 10 years

Hyundai Motor, Kia Corp. headquarters in Seoul / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor plans to hire a total of 700 new technical staff for two years starting in 2023, making it the first recruitment of technicians since 2013, according to industry officials, Friday. The company's labor and management agreed during this year's wage negotiations to scale up its new recruitment of technical workers at domestic production plants, as thousands of experienced workers are set to retire each year.Labor and management agreed to hire 400 people for technical positions in 2023 and 300 in 2024 to help improve the company's competitiveness in the automobile industry and enhance job security for employees.Recruitment for these technical positions will be conducted through an open recruitment method, and detailed procedures will be implemented in accordance with the company's recruitment regulations.This will be the first time since April 2013 that Hyundai Motor is hiring rookies for technical positions.Before 2013, Hyundai Motor hired a total of 9,500 in-house subcontracted

Dec 30, 2022By Kim Hyun-bin
Hyundai Motor set to hire new technical staff for first time in 10 years
Companies

Concerns rise at LGES over union demand for drastic wage hike

A battery plant run by Ultium Cells, a joint venture between LG Energy Solutions and General Motors, in Warren, Ohio, U.S. Courtesy of Ultium CellsBy Kim Hyun-binConcerns are rising at LG Energy Solutions (LGES) after unionized workers at the company's battery plant in the U.S. state of Ohio are demanding a significant increase in wages. Depending on the outcome of wage talks, battery plants in other regions could be affected, according to industry officials, Friday.Ultium Cells, a joint battery manufacturing company set up by LGES and General Motors (GM) in Warren, Ohio, said the United Auto Workers intend to proceed with the first collective wage negotiations after a local chapter of the union is formed next month.The UAW is expected to demand a pay raise to $32 an hour in the first collective bargaining agreement. If reached, it will become the highest hourly wage in the U.S. auto parts industry.LGES and GM are expected to focus on suppressing the wage increase rate as an increase in salaries can lead to a decline in battery price competitiveness. In addition, the outcome of the l

Dec 30, 2022By Kim Hyun-bin
Concerns rise at LGES over union demand for drastic wage hike
Companies

Bureaucrats, lawmakers urged to reduce burden on businesses

From left, KCCI Chairman Chey Tae-won, FKI Chairman Huh Chang-soo and KEF Chairman Sohn Kyung-shikBy Kim Hyun-binMajor business lobby groups are urging the government to reduce the burden on companies. The Korea Chamber of Commerce and Industry (KCCI), the Federation of Korean Industries (FKI), the Korea Enterprises Federation (KEF), the Korea International Trade Association (KITA) are also calling on the government to enhance cooperation and ease regulations.The lobby groups emphasized that 2022 presented grave external difficulties due to the global supply chain turmoil caused by the prolonged Ukraine-Russia war and the deepening conflict between the U.S. and China overlapped by high prices, high-interest rates and high exchange rates. The group called on its members and government to work together as one team to resolve the external difficulties that are expected to carry on next year.“In a situation where domestic and foreign economic uncertainty is high, institutional support to reduce the burden on companies will be an important role for the government and the National As

Dec 29, 2022By Kim Hyun-bin
Bureaucrats, lawmakers urged to reduce burden on businesses
Companies

KITA to aid exporters to overcome trade difficulties in 2023

By Kim Hyun-binThe Korea International Trade Association (KITA) will help businesses overcome trade difficulties in the New Year as external problems are expected to continue in 2023, KITA Chairman Koo Ja-yeol emphasized.In 2023, global economic and geopolitical uncertainties are expected to remain high. Difficulties surrounding trade include strict protectionist measures in major countries, sluggish growth in China and the prolonged war between Russia and Ukraine.KITA Chairman Koo Ja-yeol“The flow of goods and investments is slowing down. The conflict between the U.S. and China is spreading beyond trade to technology and supply chains. The competition between major countries to strengthen their domestic manufacturing capabilities is intensifying, and division of labor and cooperation between countries is weakening,” Koo said.The chairman emphasized that some businesses have reached record-high exports despite the uncertainties.“Despite deteriorating external conditions, Korea has achieved some major milestones, reaching $600 billion in exports for two consecutive y

Dec 29, 2022By Kim Hyun-bin
KITA to aid exporters to overcome trade difficulties in 2023
Companies

Nurturing foreign experts key to globalizing Korean food: survey

Korean cuisine / Korea Times fileBy Kim Hyun-binFostering foreign Korean food experts is one of the key factors to spreading Korean food around the world, according to the Korea Chamber of Commerce and Industry (KCCI), Wednesday.A project on fostering foreign Korean food experts won the top prize in the Korean Food Industrialization Idea Contest run by the KCCI, for emphasizing the need for more non-Koreans to open Korean restaurants in their communities to reach the full potential of Korean food and suggesting the establishment of Korean food education institutions overseas.Although Korean food is becoming popular around the globe, it has been evaluated that there is still a long way to go toward its full potential. The KCCI also announced the results of a survey on perceptions of the Korean food industry, which was conducted on the 182 participants of the contest from Sept. 10 to Oct. 28.When asked how successful Korean food globalization was, more than half of the respondents answered positively; 42.1 percent rated it as good and 8.6 percent as very good.However, many perceived th

Dec 28, 2022By Kim Hyun-bin
Nurturing foreign experts key to globalizing Korean food: survey
Companies

Korean chipmakers need to reduce dependence on China, expand presence in US

U.S. President Joe Biden, left, who visited Korea for the first time since taking office, shakes hand with President Yoon Suk-yeol at the Samsung Electronics semiconductor plant in Pyeongtaek, Gyeonggi Province, May 20. Courtesy of Cheong Wa DaeBy Kim Hyun-binKorea needs to reduce its semiconductor export dependence on China and strengthen chips-related exports to the U.S. to gain a greater global market share, according to a report released Wednesday by the Korea International Trade Association (KITA), titled “Korea's opportunities and threats due to global semiconductor supply chain reorganization.” The report states that Taiwan benefited the most from the U.S.-led reorganization of the global chip supply chain, and Korea did not benefit much to secure competitiveness in the U.S. semiconductor market.The U.S. reorganized its semiconductor supply chain centered on its allies, drastically reducing semiconductor imports from China and switching suppliers mostly to Taiwan and Vietnam.China's share of U.S. semiconductor imports plummeted from 30.1 percent in 2018 to 11.0 per

Dec 28, 2022By Kim Hyun-bin
Korean chipmakers need to reduce dependence on China, expand presence in US
previous page
100101102103104
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.