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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

Samsung chief expected to visit Vietnam to seek overseas biz opportunities

Samsung Electronics Chairman Lee Jae-yong / YonhapBy Kim Hyun-binSamsung Electronics Chairman Lee Jae-yong is expected to travel to Vietnam to strengthen global management and seek new business investment opportunities there, according to industry officials, Sunday.Plans for Lee to visit Samsung Electronics' Vietnam R&D center at the end of this year is being discussed. Since March 2020, Samsung Electronics has invested $220 million to build the R&D center in Hanoi, and aims to complete construction by the end of this year.Lee was originally scheduled to visit Vietnam to attend the groundbreaking ceremony of the R&D center in February 2020, but the event was canceled due to the spread of COVID-19. Instead, he visited Vietnam in October of the same year. During that visit, after reviewing the progress of the R&D center construction, Lee said in a private meeting with Prime Minister Nguyen Xuan Phuc, “We will support the new R&D center to become a base for Samsung Group's research and development.”Currently, Samsung Electronics operates two smartphone fa

Oct 30, 2022By Kim Hyun-bin
Samsung chief expected to visit Vietnam to seek overseas biz opportunities
Companies

Hyundai Motor chief meets Slovak PM, requests support for Expo bid

By Kim Hyun-binHyundai Motor Group Executive Chair Chung Euisun met with Slovak Prime Minister Eduard Heger to request support to host the World Expo 2030 in Busan, according to the company Sunday. Chung met with Heger Friday, asking for support in the Korean port city's bid to host the World Expo and discussing ways to cooperate in expanding eco-friendly mobility.Hyundai Motor Group Executive Chair Chung Euisun shakes hands with Slovak Prime Minister Eduard Heger after requesting support to host the World Expo 2030 in Busan at the PM office Bratislava, Slovakia, Friday. Courtesy of Hyundai Motor GroupSlovakia is the chair of the Visegrad Group, a regional cooperation organization between Slovakia, the Czech Republic, Poland, and Hungary, and Kia operates a European production base in Slovakia.The meeting was held at the Prime Minister's Office with Heger, Chung and key figures from the Slovak government in attendance, including Deputy Minister of Economy Peter Svec and Deputy Minister of Foreign Affairs Andrej Stancik.At this meeting, Chung expressed his gratitude for the Slovak gov

Oct 30, 2022By Kim Hyun-bin
Hyundai Motor chief meets Slovak PM, requests support for Expo bid
Companies

FKI invites ambassadors to Seungsan Village to lobby for Busan's expo bid

Federation of Korean Industries Chairman Huh Chang-soo, center, along with ambassadors of several countries, pose at a Korean traditional 'hanok' in Seungsan Village during the Korean Entrepreneurship Tour held in South Gyeongsang Province, Tuesday. This event was prepared for ambassadors to Korea to enhance their understanding of the Korean economy and businesses and request support for Busan's bid to host World Expo 2030. Courtesy of the FKIBy Kim Hyun-binThe Federation of Korean Industries (FKI) invited a diplomatic delegation to Seungsan Village in South Gyeongsang Province for the Korean Entrepreneurship Exploration Program, while requesting support for Busan's bid to host World Expo 2030, according to the lobby group, Tuesday.Seungsan Village is the birthplace of the founders of major domestic conglomerates such as GS and LG, and Jisu Elementary School, which closed in 2009 and was the school of Samsung Group founder Lee Byung-chul, LG group founder Koo In-hoi and Hyosung group founder Cho Hong-je. "Businessmen from Seungsan Village are contributing to economic development and

Oct 26, 2022By Kim Hyun-bin
FKI invites ambassadors to Seungsan Village to lobby for Busan's expo bid
Companies

SK chief pushes carbon neutrality to boost Busan's bid to host World Expo 2030

By Kim Hyun-binThe Busan World Expo 2030 Bidding Committee has put forward carbon neutrality as a differentiating point to win more support to host the event in Korea. Carbon neutrality is a topic that SK Chairman Chey Tae-won, who serves as the co-chair of the Busan Expo bid committee, has been continuously pushing, according to industry officials, Wednesday.The government and the city of Busan officially submitted its proposal on Sept. 7 to the secretariat of the Bureau International des Expositions (BIE) in Paris for hosting the World Expo 2030 with the theme of “a great transformation of the world, a voyage to a better world.” The plan included hosting the Expo to be carbon-neutral as one of the differentiating strategies to beat Riyadh, Saudi Arabia, its main competitor. SK Group Chairman Chey Tae-won The bid committee plans not only to operate the Expo itself without carbon emissions, utilizing hydrogen and electric vehicles (EV) and supplying eco-friendly energ

Oct 26, 2022By Kim Hyun-bin
SK chief pushes carbon neutrality to boost Busan's bid to host World Expo 2030
Companies

2nd anniv. of Lee Kun-hee's death

Samsung Electronics Vice Chairman Lee Jae-yong, left, and his mother Hong Ra-hee attend a memorial service for the second death anniversary of Samsung Group Chairman Lee Kun-hee, in Suwon, Gyeonggi Province, Tuesday. Lee's siblings, Hotel Shilla President Lee Boo-jin and Samsung Welfare Foundation Director Lee Seo-hyun, also attended along with 300 people, including Samsung Electronics Vice Chairman Han Jong-hee. Hanwha Group Chairman Kim Seung-youn also paid tribute to the late chairman. Yonhap

Oct 25, 2022By Kim Hyun-bin
2nd anniv. of Lee Kun-hee's death
Companies

Hyundai Motor expects bleak business outlook in Q4

Hyundai Motor and Kia's headquarters in southern Seoul / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor expects its sales will continue to decline in the fourth quarter of this year and beyond, citing the continued shortage of automotive chips, Russia's war in Ukraine and other unfavorable business conditions, company officials said, Monday. But global demand for its SUVs and eco-friendly vehicles will increase, offsetting falling sales of gasoline- and diesel-powered cars, they said. "The vehicle market has been stagnant lately due to several risk factors, such as supply issues for automotive semiconductors, rising raw material prices and reduced demand due to interest rate hikes in major countries," a Hyundai Motor official said in a third-quarter earnings announcement conference call held, Monday. “The cost burden is expected to increase as the impact of the raw material price increases is expected to rise in the second half of the year. The recovery of global car sales is progressing more slowly than expected, while external uncertainties are increasing."Accord

Oct 24, 2022By Kim Hyun-bin
Hyundai Motor expects bleak business outlook in Q4
Companies

Samsung requests Austria's support for Busan to host World Expo 2030

Samsung Electronics Vice Chairman Han Jong-hee, left, shakes hands with Austrian Foreign Minister Alexander Schallenberg, after requesting support for Busan's efforts to host the World Expo 2030, at the Samsung Innovation Museum in Suwon, Gyeonggi Province, Sunday. Courtesy of Samsung ElectronicsBy Kim Hyun-binSamsung Electronics Vice Chairman Han Jong-hee met with Austrian Foreign Minister Alexander Schallenberg at the Samsung Innovation Museum in Suwon, Gyeonggi Province, Sunday, to request support for Busan's bid to host the World Expo 2030, according to the company, Monday. Vice Chairman Han presented Samsung Electronics' eco-friendly ICT technologies. Samsung Electronics strives to increase resource circulation throughout the entire electronic product cycle, and continues to strengthen accessibility features, the company said.He emphasized the significance of hosting the Expo in Korea, and asked for support so that Samsung Electronics' various technologies can be showcased there. Samsung Electronics is a participant of the Busan World Expo 2030 Bidding Committee and has been car

Oct 24, 2022By Kim Hyun-bin
Samsung requests Austria's support for Busan to host World Expo 2030
Companies

SPC chairman apologizes for factory worker's death

SPC Chairman Hur Young-in bows his head in apology for the death of an employee at the baked goods factory of company affiliate SPL in Pyeongtaek, Gyeonggi Province, during a press conference held at SPC's headquarters in Seoul, Friday. Yonhap By Kim Hyun-binSPC Chairman Hur Young-in bowed his head in apology on Friday over the death of an employee at the baked goods factory of company affiliate SPL in Pyeongtaek, Gyeonggi Province last weekend."I am deeply responsible for this accident and humbly accept the severe rebuke and criticism of the public. I sincerely apologize for not being able to consider them first," Hur said at a press conference at SPC's headquarters in Seoul. "The company is working on the investigation with the authorities, and we are working hard to find out the exact cause of the accident and take follow-up measures."The chairman said the company will be reborn as a trusted company by not only strengthening safety management, but also establishi

Oct 22, 2022By Kim Hyun-bin
SPC chairman apologizes for factory worker's death
Companies

Hyundai's IONIQ 5 awarded SUV of the Year by MotorTrend

Hyundai Motor's IONIQ 5 / Courtesy of Hyundai MotorBy Kim Hyun-binHyundai Motor's IONIQ 5 has been selected as the 2023 SUV of the Year by MotorTrend, a world-renowned automobile magazine based in Los Angeles, the automaker said Friday. This is the first time Hyundai Motor received this award.The IONIQ 5 is the first electric vehicle (EV) to win the SUV of the Year award announced by MotorTrend.The SUV of the Year award evaluated a total of 45 car models. Of these, 25 models were EVs.“For the first time in MotorTrend's 74-year history, the majority of contenders vying for MotorTrend SUV of the Year were electrified, with hybrid, plug-in hybrid or full battery-electric power,” said Ed Loh, head of editorial at MotorTrend Group. “The sheer volume and capability of all contenders made it one of the most competitive SUV of the Year programs ever, which is great news for consumers looking for efficient, future-forward SUVs and crossovers.” The IONIQ 5 won SUV of the Year by excelling in the MotorTrend of the Year award's six key criteria: safety, efficiency, value,

Oct 21, 2022By Kim Hyun-bin
Hyundai's IONIQ 5 awarded SUV of the Year by MotorTrend
Companies

Korea, US biz leaders urge gov'ts to fix bias in Inflation Reduction Act

Federation of Korean Industries (FKI) Chairman Huh Chang-soo, second from left, speaks at the “34th Korea-U.S. Business Meeting” held at the FKI Hall in Seoul, Thursday. From left, Foreign Minister Park Jin, Huh, Chairperson of the U.S. ― Korea Business Council Octavio Simoes, and U.S. Ambassador to Korea Philip Goldberg. Courtesy of FKITwo countries also advised to sign long-term currency swap dealBy Kim Hyun-binKorean and U.S. business leaders called for efforts on Thursday to address discriminatory trade policies created by the U.S. Inflation Reduction Act (IRA), which only grants tax credits to electric vehicles manufactured in North America.During an annual conference co-hosted by the Federation of Korean Industries and the American Chamber of Commerce in Korea, the key business lobbies of both countries issued a joint declaration urging the two governments to address issues such as the electric vehicle tax credit passed into law in the IRA and search for a non-discriminatory resolution.They pointed out that the IRA could violate the U.S.-Korea Free Trade Agreement (

Oct 20, 2022By Kim Hyun-bin
Korea, US biz leaders urge gov'ts to fix bias in Inflation Reduction Act
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