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

LCCs struggle despite increased int'l passenger demand

Jeju Air airplane / Courtesy of Jeju AirBy Kim Hyun-binLocal low-cost carriers (LCC) are deeply concerned despite a rise in international passenger demand, as the competition for Southeast Asian routes is intensifying due to difficulties entering the most popular destinations ― Japan and China. Many experts believe it will be difficult for LCCs to improve their financial structure despite a surge in international flight demand.According to the Ministry of Land, Infrastructure, and Transport Monday, the number of international passengers at national airports in July was recorded at 1,855,000, an increase of 532 percent from the previous year. By route, the recovery of international passengers was fastest for flights bound for the Americas. Compared to the 2019 average, the Americas recovered 74 percent, Europe 41 percent and Southeast Asia 35 percent but Japan and China only saw a recovery of 7 percent and 2 percent, respectively.Among the three major LCCs, Jeju Air was top with 97,392 international passengers, followed by Jin Air with 95,784 and T'way Air with 85,560.Compared to the

Aug 15, 2022By Kim Hyun-bin
LCCs struggle despite increased int'l passenger demand
Companies

Korea lacks data to operate autonomous vehicles

Hyundai Motor's autonomous Ioniq 5 electric vehicle on a test drive around Seoul on June 9. Courtesy of Hyundai Motor Group By Kim Hyun-binAmid intensifying competition to gain an edge in the self-driving vehicle market, concerns are rising that Korea might lose in the game as it lacks data to implement autonomous driving. Industry experts stress that a better environment should be established to accumulate autonomous driving data as in other leading countries such as China and the U.S.According to KMPG, a global consulting firm Friday, the autonomous vehicle market is expected to grow from $7.1 billion in 2020 to $1.12 trillion in 2035.Led by major countries such as China and the U.S, competition is intensifying. China's Baidu will deploy 10 “Apollo 5th Generation” robot taxis, five each in Wuhan and Chongqing. This is the first time a fully autonomous taxi has been licensed in China. Baidu conducted a test drive of 21 million kilometers through last year.The U.S.

Aug 12, 2022By Kim Hyun-bin
Korea lacks data to operate autonomous vehicles
Companies

Hyundai to set up Robot AI research institute in US

Hyundai Motor Group Chairman Chung Euisun enters with a robot dog named Spot to present the company's robotics vision at the Mandalay Bay Convention Center in Las Vegas, U.S. in January. Courtesy of Hyundai Motor Group By Kim Hyun-binHyundai Motor Group announced Friday the launch of the Boston Dynamics AI Institute with the goal of making fundamental advances in artificial intelligence (AI), robotics and intelligent machines. Hyundai and Boston Dynamics will make an initial investment of more than $400 million in the new institute, which will be led by Marc Raibert, founder of Boston Dynamics.As a research-first organization, the institute will work on solving the most important and difficult challenges facing the creation of advanced robots. Elite talent across AI, robotics, computing, machine learning and engineering will develop technology for robots and use it to advance their capabilities and usefulness. The institute's culture is designed to combine the best

Aug 12, 2022By Kim Hyun-bin
Hyundai to set up Robot AI research institute in US
Companies

Interpark under fire for 'unreasonable' airline ticket payment policy

gettyimagesbankBy Kim Hyun-binCustomers who booked flights through Interpark Tour are furious over the unexpected additional fees they have to pay three months after booking their nonrefundable flights, according to passengers and industry officials, Thursday.A passenger whose surname is Chung booked a Jeju Air flight departing from Incheon International Airport to Panglao International Airport in Bohol, Philippines in advance in May. She then received an unexpected e-mail and a message on the Kakao instant messenger app from Interpark Tour on Aug. 8 to pay an additional fee for the nonrefundable flight ticket or else the ticket would be canceled and the initial payment would also not be refunded.Chung is scheduled to depart Incheon International Airport on Aug. 21 and take a return flight from Panglao International Airport on Aug. 25.Jeju Air B737-800“Due to the rise in fuel surcharge, an additional 51,400 won per person needs to be transferred to Interpark Tour by 6 p.m. on Aug. 9,” The Interpark message stated. “If the payment is not made the ticket will be cance

Aug 11, 2022By Kim Hyun-bin
Interpark under fire for 'unreasonable' airline ticket payment policy
Companies

SK Signet to introduce EV chargers at Seoul E-Prix

The SK Signet EV charging station set up for visitors at the 2022 Seoul E-Prix in Seoul, Wednesday. Visitors can discover and experience SK Signet's various products, including a 350kw superfast EV charger. / Courtesy of SK Inc.By Kim Hyun-binSK Signet, a subsidiary of SK Inc., will participate as a sponsor of the 2022 Hana Bank Seoul E-Prix & Seoul Festa event and exhibit the latest electric vehicle chargers, according to the company, Wednesday. The Seoul E-Prix is the last competition of the 2021-2022 season of Formula-E, the world's largest electric car race. SK Signet plans to open an exhibition hall in the Seoul Festa Brand Zone on the opposite side of Jamsil Main Stadium to expand customer experience opportunities for ultra-fast EV charging and to promote its products at home and abroad. “As an EV infrastructure operator for a sustainable future, we have prepared a PR booth to help people understand EV charging and to promote the convenience of ultra-fast charging. By doing so, we plan to contribute to the spread of EVs.” SK Signet CEO Shin Jung-ho said.At this

Aug 10, 2022By Kim Hyun-bin
SK Signet to introduce EV chargers at Seoul E-Prix
Companies

Bill Gates expected to meet with top business leaders in Korea

From left, Microsoft founder Bill Gates, Samsung Electronics Vice Chairman Lee Jae-yong, and SK Group Chairman Chey Tae-won.By Kim Hyun-binBill Gates, the founder of Microsoft and co-chairman of the Bill & Melinda Gates Foundation, has been invited to speak at the National Assembly during his stay in Korea on Aug. 15-17, but all eyes are on whether he will meet with key business leaders during his visit, according to industry officials, Wednesday. Gates will visit the Assembly at 10 a.m. on Aug. 16 and meet with Speaker Kim Jin-pyo. At 10:40 a.m., he will give a speech on the topic of “The importance of international cooperation and Korea's leadership for coping with and preparing for COVID-19 and future infectious diseases” at the plenary session of the Special Committee on Budget and Settlement of the National Assembly.This is Gates's first visit to the National Assembly since 2013. Back then, he gave a lecture on the topic of “Smart Aid: Innovation for a Better World and a Stronger Korea” at the National Assembly at the invitation of then-Saenuri Party

Aug 10, 2022By Kim Hyun-bin
Bill Gates expected to meet with top business leaders in Korea
Companies

Wife of Hanwha chairman passes away at age 61

By Kim Hyun-binSuh Yung-min, the wife of Hanwha Group Chairman Kim Seung-youn, passed away at the age of 61, Tuesday. Suh Yung-min Suh passed away at a hospital in the U.S. after battling cancer.She is the daughter of Suh Jeong-hwa, who served as a member of the 12th to 16th National Assemblies and as Minister of the Interior. He is currently a standing adviser to the People's Power Party. Suh and Kim were married in 1982. Her grandfather is the late Justice Minister Suh Sang-hwan, who served under Korea's first President Syngman Rhee.She has three sons: Kim Dong-kwan, the eldest son and CEO of Hanwha Solutions, Kim Dong-won, vice president of Hanwha Life Insurance, and Kim Dong-seon, managing director of Hanwha Hotels & Resorts.A specific funeral date has not been decided.

Aug 9, 2022By Kim Hyun-bin
Wife of Hanwha chairman passes away at age 61
Companies

Hyundai Motor on track to reach W10 trillion operating profit for 1st time

Hyundai Motor, Kia Corp. headquarters in Seoul / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor will likely see its 2022 operating profit reach 10 trillion won ($7.7 billion) for the first time in its history, despite a range of downside risks, such as the resurgence of COVID-19 and supply chain disruptions this year, according to industry analysts, Tuesday.Securities companies had initially expected an operating profit of around 8 trillion won for the company but are now raising their forecasts. Despite the supply and demand shortage of automotive semiconductors and concerns about an economic downturn growing in major markets such as the U.S, and Europe, there is a prevailing view that solid new car demand will back earnings in the second half of the year.According to FnGuide, a financial information company, the consensus for this year's annual operating profit of Hyundai Motor expected by securities companies was on average 10,144.7 billion won as of Sunday.This is an increase of 51.9 percent compared to last year. The market consensus for Hyundai Motor has been stead

Aug 9, 2022By Kim Hyun-bin
Hyundai Motor on track to reach W10 trillion operating profit for 1st time
Companies

Solar, wind power firms to benefit from US anti-inflation act

Hanwha Solutions solar module production plant in Georgia, U.S. / Courtesy of Hanwha SolutionsBy Kim Hyun-binThe U.S. Inflation Reduction Act, which will likely take effect next year, is expected to benefit local companies in the solar and wind power sector, according to industry officials, Tuesday.The act, which is primarily designed to fight inflation, was passed by the U.S. Senate last week and will soon be signed into law by President Biden after a democrat-controlled House vote. The act will enable the U.S. government to secure money through hikes in corporate income taxes and invest it in responses to the escalating climate change.About $369.3 billion will likely be invested to fight climate change alone. As for renewable energy, $60 billion is expected to be used for the manufacture and production of solar panels, wind turbines, and batteries in the U.S., and local solar and wind power companies are expected to benefit.Although Chinese companies control 80 to 90 percent of the global solar energy value chain, it is highly likely that Korean players will benefit from the bill,

Aug 9, 2022By Kim Hyun-bin
Solar, wind power firms to benefit from US anti-inflation act
Companies

Samsung Electronics signs wage deal with union for 1st time in 53 years

Samsung Electronics' headquarters in Seoul / Korea Times fileBy Kim Hyun-binSamsung Electronics' union and management have reached an agreement on wage negotiations for 2021 and 2022, according to company officials, Monday.According to Samsung Electronics, the union and management of Samsung Electronics will hold a wage agreement signing ceremony on Wednesday. This will mark the first wage agreement between Samsung Electronics' labor and management representatives.“The company will work hard to establish a sound labor-management culture that creates win-win growth through dialogue with the union,” Samsung Electronics official said.The labor union joint bargaining group consisting of four labor unions within Samsung Electronics recently voted on the “2021-2022 interim wage bargaining agreement,” which has tentatively been agreed on together with the company. Labor and management have held a total of 31 collective bargaining sessions, including 11 main negotiations and 20 working-level negotiations.Until now, Samsung's union membership rate has been only 5 perce

Aug 8, 2022By Kim Hyun-bin
Samsung Electronics signs wage deal with union for 1st time in 53 years
previous page
117118119120121
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.