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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.

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Companies

POSCO International to invest $2.67 billion in 3 years after POSCO Energy merger

An onshore gas field production facility in Australia operated by Senex Energy / Courtesy of POSCO InternationalBy Kim Hyun-binPOSCO International which is set to merge with POSCO Energy, unveiled a plan to invest 3.8 trillion won ($2.67 billion) by 2025 to become a global energy company, during a company shareholders' meeting, which was held on Friday.POSCO International held a shareholders' meeting at the POSCO Center in Incheon and announced that it would invest 3.8 trillion won from next year to 2025 to secure a liquefied natural gas (LNG) value chain.Specifically, 1.6 trillion won will be invested in the construction of a liquefied natural gas (LNG) terminal. Funds will be used to build the Gwangyang one and two LNG terminals, the Dangjin LNG terminal and North American liquefaction plants.Next, it will invest 1.3 trillion won to expand natural gas production in order to develop an onshore block of Australia's Senex Energy, which it acquired this year, to develop a Mahar gas field in Myanmar and to start new rounds of exploration in Southeast Asia. Next, 700 billion won and 200

Nov 4, 2022By Kim Hyun-bin
POSCO International to invest $2.67 billion in 3 years after POSCO Energy merger
Companies

'Future of Korea-Germany economic cooperation is decarbonization and ESG': KCCI

Prime Minister Han Duck-soo, second from right, poses with German President Frank-Walter Steinmeier, third from right, along with other business executives after holding in-depth discussions on ways to further expand economic cooperation at the Grand Hyatt Hotel in Seoul, Friday. Courtesy of KCCIBy Kim Hyun-binKorean and German business lobby groups emphasized the importance of decarbonization and establishing a strong foundation for environmental, social and corporate governance (ESG) principles during the Korea-Germany Business Roundtable held at the Grand Hyatt Hotel in Seoul Friday.The Korea Chamber of Commerce and Industry (KCCI), together with the Korea-Germany Chamber of Commerce and Industry (KGCCI), held in-depth discussions on ways to further expand economic cooperation in celebration of the 140th anniversary of the establishment of diplomatic ties between Korea and Germany while exploring medium to long-term cooperation between the two countries centered on the decarbonization economy and the introduction of ESG principles.“Economic cooperation between the two countr

Nov 4, 2022By Kim Hyun-bin
'Future of Korea-Germany economic cooperation is decarbonization and ESG': KCCI
Companies

Lotte, Hyundai Motor Group team up to expand EV charging infrastructure

Hyundai Motor Group's EV charging station E-pit on Jeju Island / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor Group and Lotte Group are teaming up to expand electric vehicle (EV) charging infrastructure, according to company officials Thursday. The two have formed an alliance to strengthen the mobility sector, which has been emphasized by Hyundai Motor Group Executive Chair Chung Euisun and Lotte Group Chairman Shin Dong-bin. Hyundai Motor Group and Lotte Group will sign a contract to establish an “Electric Vehicle Super-Speed ??Charging Infrastructure Special Purpose Company” as early as this month. KB Asset Management will also participate in the project. The three companies have decided to newly establish a joint venture and are currently adjusting the final investment scale, which local reports state will be around 300 billion won ($211 million).“We are negotiating the total investment amount,” a Lotte Group official said.The three companies plan to develop a new infrastructure business model that leases EV super-fast chargers to charging co

Nov 3, 2022By Kim Hyun-bin
Lotte, Hyundai Motor Group team up to expand EV charging infrastructure
Companies

Korea highly dependent on foreign chip equipment: KITA

Samsung Electronics' Pyeongtaek Semiconductor plant in Gyeonggi Province / Courtesy of Samsung ElectronicsBy Kim Hyun-binKorea's dependence on semiconductor equipment from the U.S., Japan and the Netherlands has reached 77.5 percent, sparking worries that the high level of dependence could be geopolitically and diplomatically risky in the future. Some experts are advising Korea to join the Chip 4 Alliance to ensure a stable supply of semiconductor equipment, according to a Korea International Trade Association (KITA) report, Thursday.The KITA released a report titled, “Recent Semiconductor Equipment Trade Trends and Implications,” and it states that global semiconductor equipment trade increased 2.4 percent year-on-year in 2018 due to a surge in global semiconductor equipment investment, recording a record high of $101.2 billion. The top three export countries for semiconductor equipment were Japan ($31.2 billion), the U.S. ($28.4 billion), and the Netherlands ($20.1 billion). In the global semiconductor equipment market, five major semiconductor equipment companies, incl

Nov 3, 2022By Kim Hyun-bin
Korea highly dependent on foreign chip equipment: KITA
Companies

Hyundai Heavy Industries Group reshuffles CEOs

From left, Kim Hyung-kwan, CEO of Hyundai Mipo Dockyard, Shin Hyeon-dae, CEO of Hyundai Samho Heavy Industries, Lee Dong-wook, CEO of Hyundai Genuine, and Choi Cheol-gon, CEO of Hyundai Construction Equipment / Courtesy of HHI Group By Kim Hyun-binHyundai Heavy Industries Group reshuffled its CEOs, according to the company, Wednesday.Kim Hyung-kwan, vice president of Hyundai Samho Heavy Industries, was promoted and appointed the new CEO of Hyundai Mipo Dockyard. Shin Hyeon-dae, Hyundai Mipo Dockyard CEO, was appointed the CEO of Hyundai Samho Heavy Industries. Vice President Lee Dong-wook of Hyundai Doosan Infracore was promoted to president and became the CEO of Hyundai Genuine. Choi Cheol-gon the vice president of Hyundai Construction Equipment, was promoted to president. Based on his experiences performing plant innovations at Volvo Construction Equipment and Doosan Infracore, Choi is tasked with spurring Hyundai Construction Equipment's product innovation and sm

Nov 2, 2022By Kim Hyun-bin
Hyundai Heavy Industries Group reshuffles CEOs
Companies

Companies cancel events, biz leaders pay respects to Itaewon disaster victims

Chung Euisun, chairman of Hyundai Motor Group, offers condolences to the victims of the Itaewon crowd crush in Seoul Plaza, Tuesday. YonhapBy Kim Hyun-binCompanies have reduced or canceled various events due to the Itaewon crowd crush that took 156 lives while major conglomerate chiefs paid their respects at memorial services held around the capital, according to industry officials, Wednesday. POSCO Group Chairman Choi Jeong-woo, Vice Chairman Kim Hak-dong and CEO Jeong Tak visited a temporary memorial set up in Gangnam, Seoul, Wednesday, to offer their condolences to the victims of the Itaewon tragedy. In addition, POSCO Group flew its flag at half-mast at the front gate of the POSCO Center in Seoul, and posted condolence messages in the POSCO Newsroom as well as the company's Facebook and Instagram accounts.Hyundai Motor Group Chairman Chung Euisun expressed his condolences to the deceased.“I am sorry for the loss and am at a loss for words. I pray that the victims can rest in peace, and hope for the speedy recovery of the injured,” Chung said after paying his respects

Nov 2, 2022By Kim Hyun-bin
Companies cancel events, biz leaders pay respects to Itaewon disaster victims
Companies

Hyundai Motor CEO visits Latin American, Caribbean countries to win Expo bid

Chang Jae-hoon, left, CEO of Hyundai Motor, meets with Bahamas Prime Minister Philip Davis at the prime minister's office in Nassau, the Bahamas on Oct. 26 (local time) to gain support to host the World Expo 2030 in Busan. Courtesy of Hyundai Motor Group By Kim Hyun-binHyundai Motor CEO Chang Jae-hoon visited Latin American and Caribbean countries including the Bahamas, Paraguay and Chile to drum up support for Busan to host World Expo 2030, according to the company, Wednesday. Chang met with President Mario Abdo, Foreign Minister Julio Cesar Ariola and Vice Minister of Commerce Pedro Mancuello Perez of the presidential palace in Asuncion, Paraguay on Oct. 28, and requested support and cooperation with Busan's bid to host the World Expo.He also held meetings with high-ranking officials of the Bahamian government, including Prime Minister Philip Davis, Minister of Works and Utilities Alfred Michael Sears and Director General of Foreign Affairs Rhoda Jackson at the pr

Nov 2, 2022By Kim Hyun-bin
Hyundai Motor CEO visits Latin American, Caribbean countries to win Expo bid
Companies

Samsung Electronics holds subdued anniversary ceremony after Itaewon tragedy

Samsung Electronics' headquarters in Seoul / Korea Times fileBy Kim Hyun-binSamsung Electronics celebrated its 53rd anniversary discreetly on Tuesday, out of consideration of the national mourning period called for by the government over the Itaewon crowd crush on Saturday that left at least 156 people dead. The company announced that it held a ceremony to celebrate the 53rd anniversary of its founding in Suwon Digital City, Gyeonggi Province, in the presence of executives, including Vice Chairman Han Jong-hee and DS Division Head Kyung Kye-hyun."The more difficult the times, the more real skills are shown." Han said in a commemorative speech. "Based on Samsung Electronics' strength and will to take on challenges, let's make history by transforming ourselves once more."The vice chairman emphasized the need for new growth by taking on limitless challenges and pursuing innovations, redefining core competitiveness with a focus on customers, actively practicing sustainable management, and changing the way Samsung communicates and works."Let's expand our growth momentum by creating new bu

Nov 1, 2022By Kim Hyun-bin
Samsung Electronics holds subdued anniversary ceremony after Itaewon tragedy
Companies

Hankook Tire emerges as top-tier company through technological innovations

Hankook Tire's ultra-high performance tires on the Porsche Cayenne premium SUV. Courtesy of Hankook TireBy Kim Hyun-binHankook Tire & Technology is taking a leap forward to emerge as a global, top-tier company by spurring development and securing original tire technology through innovative R&D.The tire maker's products cover all segments from high-performance sports models to electric vehicle (EV) brands and pickup trucks. The technological innovation centers on Hankook Technodome, the tire maker's research center. The strategic partnerships with global premium brands, such as Porsche, Hyundai Motor, Mercedes-Benz, BMW, and Audi, and supplying tires for 320 car models from 46 finished car brands around the world are proof of Hankook Tire's world-class technology and brand value, according to the company.Hankook Tire announced the supply of tires for Hyundai Motor's recently launched IONIQ 6 EV. On the first day of pre-orders, the IONIQ 6 attracted a record 37,400 contracts, creating a sensation in the EV market. The company also supplies tires for other premium brands, such a

Nov 1, 2022By Kim Hyun-bin
Hankook Tire emerges as top-tier company through technological innovations
Companies

Korea warned of corporate defaults amid economic slump

Federation of Korean Industries (FKI) building in Seoul / Korea Times fileGov't urged to help create more jobs By Kim Hyun-binThe amount of debt held by Korean companies has been skyrocketing after the outbreak of COVID-19 and there are concerns that their repayment capacities have been sharply deteriorating, creating risks of a chain of defaults due to a reliance on variable interest rate and non-bank loans, according to the Federation of Korean Industries (FKI), Monday.The amount of debt shouldered by domestic companies stood at 1,321.3 trillion won in the first half of this year, an increase of 345.3 trillion won from the end of 2019, before the COVID-19 outbreak. Corporate loans have surged since the COVID-19 pandemic. From 2009 to the end of 2019, 10 years before the COVID-19 pandemic, corporate loans increased at an average annual rate of 4.1 percent. But the average annual growth rate for the last two and a half years reached 12.9 percent.The ability of companies to repay the loans has also weakened. The FKI compared the debt savings ratio (DSR), an index that evaluates debt r

Oct 31, 2022By Kim Hyun-bin
Korea warned of corporate defaults amid economic slump
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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.