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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

Nexon to release new MMORPG 'HIT 2' in summer

Nexon's pre-registration poster for its new MMORPG “Hit 2” / Courtesy of NexonBy Kim Hyun-bin Domestic game company Nexon released a teaser video for “Hit 2” last month, and will start the full pre-registration process on June 30. The previous game, “Hit,” created a big sensation in the mobile market when it was released in 2015 and Nexon hopes “Hit 2” will also become a hit in the second half of this year."Among the new lineup of various genres that we are preparing, 'Hit 2' is a game that has been aiming for the highest quality and standards to meet the expectations of core MMORPG players,” a Nexon official said. “In order to refine the game experience, we are doing everything we can to prepare for the release.”“Hit 2,” which was completely reborn as a large-scale MMORPG while inheriting the identity of the mobile action game “Hit,” is significantly bigger in scale and focuses on overwhelming PVP (player-versus-player) and field battles, including siege warfare with its own unique gameplay. In

Jun 27, 2022By Kim Hyun-bin
Nexon to release new MMORPG 'HIT 2' in summer
Companies

90% of Korean companies in China suffered from lockdowns in major cities

AmorePacific's headquarters in Seoul / Courtesy of AmorePacificBy Kim Hyun-binNearly 90 percent of Korean companies operating in China have suffered from the latter's strict zero-COVID measures ― including lockdowns of major cities, mandatory mass testing, transportation shutdowns and travel bans ― from March to April, according to the Korea International Trade Association (KITA), Monday. The Shanghai branch of the KITA released a report after surveying 177 Korean companies in China on the losses caused by lockdowns of large urban areas, including Shanghai.It was found that 88.1 percent of the responding companies were negatively affected, with 97.4 of them citing their sales decreased in the first half of this year, and 31.4 percent reporting a sales decrease by more than 50 percent compared to the same period of the previous year. Among the respondents, 95.5 percent predicted that the decline in sales would continue into the second half of this year.Companies with reduced investment and employment in the first half accounted for 69.9 percent and 66.7 percent, respectively, but more

Jun 27, 2022By Kim Hyun-bin
90% of Korean companies in China suffered from lockdowns in major cities
Companies

Booyoung supports veterans

Booyoung Group Chairman Shin Myung-ho, right, delivers a $100,000 donation to Kwon Oh-seong, president of the Army Association. Booyoung Group has been engaged in various social contribution activities, holding the Liberty Walk Seoul event, Saturday, at the War Memorial of Korea in Yongsan, along with the 6.25 Foundation and the Korea Army Association. At the event, Booyoung Group also donated $100,000 to the 6.25 Foundation for Korean War veterans. The donation will be used to build school libraries named after veterans and donate books to elementary schools. / Courtesy of Booyoung Group

Jun 27, 2022By Kim Hyun-bin
Booyoung supports veterans
Companies

Samsung, LG cut production as demand drops

Samsung Electronics' plant in Hwaseong, Gyeonggi Province / Courtesy of Samsung Electronics By Kim Hyun-binSamsung Electronics and LG Electronics have decided to cut production of their TVs and other home appliances to cope with declining consumer demand amid unfavorable economic conditions such as inflation, high interest rates and Russia's invasion of Ukraine, according to industry officials Friday.“Uncertainty about demand across the tech sector is increasing, and the overall sluggish trend continues. The decline in demand for home appliances and TVs has been a concern since the second half of last year, and we are actually confirming the data on the decline in demand,” said Kim Rok-ho, an analyst at Hana Financial Investment.According to market research company Display Supply Chain Consultants (DSCC), the average number of inventory turnover days for Samsung Electronics in the second quarter of this year was 94 days, about two weeks more than in the previous yea

Jun 24, 2022By Kim Hyun-bin
Samsung, LG cut production as demand drops
Companies

Posco officially apologizes for years-long sexual assault case

Posco Center Building in Seoul / Courtesy of PoscoBy Kim Hyun-binPosco has issued an apology based on the allegations that a female employee at its main plant in Pohang, North Gyeongsang Province, had been sexually assaulted by coworkers over more than three years.Posco Vice Chairman Kim Hak-dong issued a statement on the case late Thursday. "We sincerely apologize to the victimized employee and her family for the recent unsavory sexual ethics violations within the company, and we are taking the matter seriously. We will fully cooperate with the police investigation, and do our best to ensure that there is no unfairness to the victim by conducting a thorough investigation on those involved and holding them accountable.”Earlier this month, a female employee filed a complaint with the police against four male colleagues in the same department, claiming that they sexually assaulted her multiple times. It is reported that she is the only woman in the department, which has more than 50 employees, and that the multiple sexual assaults occurred over a period of three years.The company

Jun 24, 2022By Kim Hyun-bin
Posco officially apologizes for years-long sexual assault case
Companies

Lotte chief seeks to expand business in Europe

Lotte Chairman Shin Dong-bin, right, takes a photo with company staff to promote Korea's bid to host the World Expo 2030 in Busan during his visit to Dublin, Ireland. Courtesy of Lotte GroupConglomerate to invest W110 bil. to increase battery material productionBy Kim Hyun-bin-Lotte Group Chairman Shin Dong-bin, who has been on a business trip to Europe, announced he will invest an additional 110 billion won ($84.8 million) to double the production of anode foil, a key secondary battery material, during his visit to the Lotte Cluster, built in the Turtovanyeo Industrial Complex in Hungary, the company said, Wednesday. According to the Lotte Group, Chairman Shin, who visited the Lotte Aluminum Hungarian plant, which is scheduled to begin mass production in July, directly visited the site and decided to double the production of anode foil so that Lotte might better position itself for the rapidly growing European electric vehicle (EV) market.Lotte Aluminum's Hungary plant is capable of producing 18,000 tons of anode foil for secondary batteries per year. In the Lotte Cluster, there are

Jun 22, 2022By Kim Hyun-bin
Lotte chief seeks to expand business in Europe
Companies

Bentley Tower opens to provide one-stop services

Bentley Motors Korea CEO Warren Clarke gives a briefing on the Korean market at the newly opened Bentley Tower in Seoul, Wednesday. Korea Times photo by Kim Hyun-binBy Kim Hyun-binBentley Motors Korea held the opening ceremony of Bentley Tower, the world's largest integrated business tower for Bentley in Dongdaemun District, Seoul, Wednesday, providing a one-stop service for new cars, certified used cars and warranty service. Bentley Asia-Pacific Regional Director Nico Kuhlmann, Bentley Motors Korea CEO Warren Clarke and British Ambassador to Korea Colin Crooks were present to celebrate the opening of the tower.“Bentley recorded over 500 vehicle sales in the Korean market last year, a 71 percent growth compared to 2020,” Kuhlmann said. “As a result, Korea became the second-largest in the Asia-Pacific and the sixth-largest in the global market for Bentley.”The Bentley Experience Lounge, which opened in Korea is expected to serve as the new Bentley lifestyle community hub. The design and sensibility applied to the space will demonstrate Bentley's relentless effo

Jun 22, 2022By Kim Hyun-bin
Bentley Tower opens to provide one-stop services
Companies

2022 Korea Times Forum (PHOTOS)

Korea Times Chairman Seung Myung-ho, front row sixth from left, Minister of Trade, Industry and Energy Lee Chang-yang, fifth from left, and Seoul Mayor Oh Se-hoon, seventh from left, applaud during a VIP session prior to the 2022 Korea Times Forum at the Korea Chamber of Commerce and Industry (KCCI) building in Seoul, Tuesday. From left in the front row are German Ambassador Michael Reiffenstuel, Lotte Corp. Vice Chairman Song Yong-dok, Woori Financial Group Chairman Son Tae-seung, KB Financial Group Chairman Yoon Jong-kyoo, Lee, Seung, Oh, Shinhan Financial Group Chairman Cho Yong-byoung, Hana Financial Group Chairman Ham Young-joo and S-Oil CEO Hussain A. Al-Qahtani. From left in the second row are Italian Ambassador Federico Failla, Citibank Korea CEO Yoo Myung-soon, Korea Network of Women in Finance Chairperson Kim Sang-kyung, AMCHAM Chairman James Kim, ECCK Chairperson Dirk Lukat, University of Utah Asia Campus Chief Administrative Officer Gregory Hill, Saudi Arabian Ambassador Sami M. Alsadhan, Korea Investment Corp. CEO Jin Seung-ho, Korea Exchange Chairman Sohn Byung-doo, S-O

Jun 21, 2022By Kim Hyun-bin
2022 Korea Times Forum (PHOTOS)
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Companies

2022 Korea Times Forum (Main photo)

Korea Times Chairman Seung Myung-ho, front row sixth from left, Minister of Trade, Industry and Energy Lee Chang-yang, fifth from left, and Seoul Mayor Oh Se-hoon, seventh from left, pose during a VIP session prior to the 2022 Korea Times Forum at the Korea Chamber of Commerce and Industry (KCCI) building in Seoul, Tuesday. From left in the front row are German Ambassador Michael Reiffenstuel, Lotte Corp. Vice Chairman Song Yong-dok, Woori Financial Group Chairman Son Tae-seung, KB Financial Group Chairman Yoon Jong-kyoo, Lee, Seung, Oh, Shinhan Financial Group Chairman Cho Yong-byoung, Hana Financial Group Chairman Ham Young-joo and S-Oil CEO Hussain A. Al-Qahtani. From left in the second row are Italian Ambassador Federico Failla, Citibank Korea CEO Yoo Myung-soon, Korea Network of Women in Finance Chairperson Kim Sang-kyung, AMCHAM Chairman James Kim, ECCK Chairperson Dirk Lukat, University of Utah Asia Campus Chief Administrative Officer Gregory Hill, Saudi Arabian Ambassador Sami M.

Jun 21, 2022By Kim Hyun-bin
2022 Korea Times Forum (Main photo)
Companies

Gov't urged to ease Serious Accidents Punishment Act

Firefighting work continues for the second day at S-Oil's Ulsan plant, Monday. The fire was extinguished 20 hours after its outbreak. / Korea Times photo by Park Eun-kyungBy Kim Hyun-binThe Federation of Korean Industries (FKI) is calling on the government to ease the Serious Accidents Punishment Act, arguing that the controversial law is ineffective in preventing industrial accidents and is only discouraging business activities, according to FKI officials, Monday.The FKI cited the vague language regarding punishment for the person in charge of management as the biggest problem, as the act aims to enforce the criminal liability of employers in the event of an industrial accident. It also submitted its proposal to the Ministry of Employment and Labor, suggesting that the definitions of serious industrial accidents and serious civil accidents should be defined thoroughly. "Many companies ask whether the CEO can be exempted from responsibility if there is a chief safety officer (CSO) with final authority over personnel and budget regarding safety and health, but experts have different o

Jun 20, 2022By Kim Hyun-bin
Gov't urged to ease Serious Accidents Punishment Act
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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.