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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

Airline, travel industries on edge over COVID-19 resurgence

Asiana A350 / Courtesy of Asiana AirlinesBy Kim Hyun-binThe resurgence of COVID-19 is putting airlines and travel industries on their toes as infection rates have been rising fast over the past week, according to industry officials Tuesday. Air carriers and travel agencies are worried that the situation could get worse and have a dire impact on their business operations, they said. According to the Korea Disease Control and Prevention Agency, Tuesday, there were 37,360 new confirmed cases of COVID-19 as of midnight, Tuesday, the highest in 62 days. The airline industry is expected to be hit the hardest if the COVID-19 resurgence intensifies.Although the number of confirmed cases in Korea is increasing rapidly, it is reported that so far there are not many inquiries for flight cancellations.The airline industry believes that the possibility of a full lockdown due to the COVID-19 resurgence is low, as many countries around the world have eased quarantine measures, such as the abolition of the mandatory submission of negative PCR tests upon arrival.Aside from the quarantine situation, a

Jul 12, 2022By Kim Hyun-bin
Airline, travel industries on edge over COVID-19 resurgence
Companies

Hyundai Motor to build first EV-only plant in Korea

Hyundai Motor's Ioniq 5 assembly line at the company's Ulsan plant. / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor's labor and management have reached an agreement to build a new electric vehicle (EV) production plant here. Once completed, it will become the firm's first newly built domestic factory in 29 years, Korea's largest carmaker said, Tuesday.The company said it reached the landmark agreement with the union during the 15th round of wage negotiations that were held at its Ulsan plant, Monday. The deal should help improve responses to the fast-changing global car industry, while securing future competitiveness for domestic factories as well as ensuring employment stability.In order to meet the rapid increase in global EV demand, the company will start construction of an EV-only plant in 2023, while completion is scheduled for 2025.This will be the first new Hyundai Motor plant to open in Korea in 29 years since the construction of a plant in Asan in 1996. Hyundai Motor Group announced in May that it would invest 63 trillion won domestically by 2025.In addition, t

Jul 12, 2022By Kim Hyun-bin
Hyundai Motor to build first EV-only plant in Korea
  • Hyundai Motor, labor union reach tentative wage deal
Companies

Eco-friendly car exports exceed 30% for first time

Hyundai Motor's newly released IONIQ 6 EV / Courtesy of Hyundai Motor GroupBy Kim Hyun-binKorea's export share of eco-friendly vehicles has exceeded 30 percent for the first time, as more consumers are switching to electric vehicles.According to the Korea International Trade Association Monday, vehicle exports from January to May this year amounted to $20.45 billion, of which 30.3 percent were eco-friendly vehicles.During the same period last year, the share of eco-friendly vehicles in total car exports was 21.6 percent, a marked rise of 8.7 percentage points in one year.This is attributed to the growing demand for eco-friendly vehicles amid global carbon-neutral initiatives as more electric vehicles (EVs) such as Hyundai Motor's IONIQ 5 and Kia's EV6 began to be sold in the U.S, the world's largest car market.Exports of eco-friendly vehicles are increasing steadily in terms of sales volume as well as amount.According to the Korea Automobile Manufacturers Association's data, eco-friendly cars accounted for 23.8 percent of total 91,260 vehicles exported from January to May this year.

Jul 11, 2022By Kim Hyun-bin
Eco-friendly car exports exceed 30% for first time
Companies

Hyundai chief congratulates Genesis Scottish Open winner

Hyundai Motor Group Chairman Chung Euisun, left, poses with 2022 Genesis Scottish Open winner Xander Schauffele, center, and Genesis President Jang Jae-hoon, at the Renaissance Club in East Lothian, Scotland, Sunday. Schauffele shot an even-par 70 during the final round to win his seventh PGA Tour title, finishing at 7 under for the week. / Courtesy of Hyundai Motor Group

Jul 11, 2022By Kim Hyun-bin
Hyundai chief congratulates Genesis Scottish Open winner
Companies

Korean Air plane makes emergency landing in Azerbaijan due to engine defect

Korean Air flight 9956 makes an emergency landing at Heydar Aliyev International Airport in Baku, the capital of Azerbaijan, due to an engine defect less than two hours after its departure from Istanbul, July 9 (local time). YonhapBy Kim Hyun-binA Korean Air passenger plane flying from Istanbul to Incheon International Airport made an emergency landing in Baku, the capital of Azerbaijan, due to a defect in one of its engines, the carrier said, Sunday.“Korean Air flight KE9956 (A330-200), which departed from Istanbul International Airport at 6:25 p.m. on Saturday (local time), had to make an emergency landing at Haidar Aliyev Airport in Baku about 90 minutes after takeoff. The flight was scheduled to arrive at Incheon International Airport at 10:30 a.m. Sunday, but was forced to land at Baku airport, the nearest runway, after an engine defect message came up,” Korean Air said. Korean Air explained that technically, even if one engine fails, the aircraft can fly for three hours, and that the passenger plane landed within two hours after the defect was detected, according to

Jul 10, 2022By Kim Hyun-bin
Korean Air plane makes emergency landing in Azerbaijan due to engine defect
  • Passengers, crew members arrive in Korea after plane made emergency landing in Azerbaijan
Companies

Biz community expresses condolences for Abe's death

gettyimagesbankBy Kim Hyun-binKorean business community expressed their condolences for the death of former Japanese Prime Minister Shinzo Abe, who was shot and killed while on the campaign trail giving a speech to support another candidate in the upcoming elections for the upper house of Japan's parliament."On behalf of the Korean business community, we express our deepest condolences to the sudden passing of former Prime Minister Abe. Korea and Japan are the only friends in East Asia who pursue the common values of liberal democracy and a market economy,” the Federation of Korean Industries (FKI) said. "This incident is an act of terror, and we, as one member of (the community of) mature global citizens, strongly condemn it. We will work harder to improve Korea-Japan relations and revitalize economic cooperation through communication with the Japanese business community, such as Japan Business Federation (Keidanren),” it said.Former Japanese Prime Minister Shinzo AbeThe Korea Chamber of Commerce and Industry (KCCI) also expressed its deepest condolences."We express our

Jul 10, 2022By Kim Hyun-bin
Biz community expresses condolences for Abe's death
  • Abe's death to test waters in Korea-Japan relations
Companies

SK chief meets with Mexican foreign minister

SK Group Chairman Chey Tae-won, right, shakes hands with Mexican Foreign Minister Marcelo Ebrard at the SK Serin Building in Seoul, Wednesday. Chey emphasized that SK can play an active role in economic cooperation between Korea and Mexico and contribute to the economic development of the two countries. The chairman also requested the Mexican foreign minister to help Korea win its bid to host the 2030 World Expo in Busan. / Courtesy of SK Group

Jul 7, 2022By Kim Hyun-bin
SK chief meets with Mexican foreign minister
Companies

POSCO International to build EV motor core plant in Mexico

POSCO International CEO Joo Si-bo, fifth from left, shakes hands with Coahuila Governor Miguel Riquelme, fourth from left, after a groundbreaking ceremony for an EV motor core plant in Coahuila, Mexico, Thursday. From left, Coahuila Economy Minister Claudio Bres Garza, Ramos Arizpe Mayor Jose Maria Morales, Korean Ambassador to Mexico Suh Jeong-in, Riquelme, Joo, POSCO Mobility Solutions CEO Kim Hak-yong and POSCO Holdings department head Oh Se-chul. / Courtesy of POSCO InternationalBy Kim Hyun-binPOSCO International held a groundbreaking ceremony, Thursday, for a new plant manufacturing automotive motor cores in Coahuila, Mexico, to meet growing demand for electric vehicle (EV) parts in the North American market. Motor cores are a key component for generating electricity in EVs.“With the Mexican plant as a bridge, we will strengthen our penetration into the North American EV parts market and establish ourselves as a key partner when it comes to motor cores in the global eco-friendly car industry,” POSCO International CEO Joo Si-bo said.The event was also attended by Coah

Jul 7, 2022By Kim Hyun-bin
POSCO International to build EV motor core plant in Mexico
Companies

Lamborghini starts sales of Huracan Tecnica in Korea

Francesco Scardaoni, Lamborghini Asia Pacific regional director, speaks about the company's newest release, the Huracan Tecnica during a media event in Seoul, Thursday. Korea Times photo by Kim Hyun-binBy Kim Hyun-binLamborghini began sales of the Huracan Tecnica in the Korean market, Thursday, appealing to high-end supercar enthusiasts in the country.The Tecnica sports a 640-horsepower V10 engine with a maximum torque of 57.6 kg?m. The sports car was unveiled at a media event in Gangnam district in Seoul.Lamborghini's unique lightweight technology means that the vehicle weighs only 1,379 kg. The car can go from zero to 100 km/h in just 3.2 seconds and 200 km/h in 9.1 seconds, the company said.In particular, the Huracan Tecnica is equipped with several interesting features, such as an improved power control system known as Lamborghini Dinamica Veicolo Integrata (LDVI), driving modes with Tecnica-specific suspension settings, a more direct interlocking rear-wheel steering system and an innovative brake cooling system.Huracan Technica is a rear-wheel-drive vehicle, but is equipped with

Jul 7, 2022By Kim Hyun-bin
Lamborghini starts sales of Huracan Tecnica in Korea
Companies

Hyundai Motor, LG Electronics step up to help Busan win World Expo bid

Hyundai Motor Group President Gong Young-won, fourth from left, poses with high-ranking officials from Latin America at Hyundai Motor Studio Busan, Wednesday. From left, Rafael Gomez, vice minister of energy of the Dominican Republic, Fernando Mitkiewicz, secretary for digital government of the Ministry of Economy of Brazil, Carlino Velazquez, Paraguay's deputy minister of administration and Finance, Gong, Honduran Foreign Minister Eduardo Enrique Reina, Adriana Rendon, vice president of Columbian Federation of Enterprises, Ecuador's Vice Foreign Minister Luis Bayas, and El Salvador's Deputy Chief of Innovation, Presidential Office Jonathan Fabricio Mena. / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor Group and LG Electronics are upping their efforts to help Korea win its bid host the 2030 World Expo in Busan.Hyundai Motor Group said Wednesday it invited 23 high-ranking officials from major countries in Latin America to Hyundai Motor Studio Busan, the automaker's brand experience center, to explain the southern port city's competitiveness as a venue for the global even

Jul 6, 2022By Kim Hyun-bin
Hyundai Motor, LG Electronics step up to help Busan win World Expo bid
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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.