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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

Top business groups donate to flood, landslide victims

A Hope Bridge volunteer carries a bag of laundry in Ganggu Market in North Gyeongsang Province. Hyundai Motor Group sent a mobile laundromat to help residents in the area which was hit by heavy rainfall and flooding in August 2020. Courtesy of Korea Disaster Relief AssociationBy Kim Hyun-binSamsung, SK, Hyundai Motor, LG, POSCO and other top business groups have decided to contribute to flood relief funds to comfort residents of regions that suffered significant damage from the recent heavy downpours, according to company officials, Thursday.Samsung said Thursday that it collected 3 billion won ($2.37 million) in donations from eight affiliates, including Samsung Electronics, Samsung Display, Samsung SDI and Samsung Life Insurance.Samsung delivered the donations to the Korea Disaster Relief Association. In addition, Samsung provided around 1,000 relief supplies and 270 tents to residents in Chungcheong, Jeolla, and North Gyeongsang provinces, which were heavily affected by the rain. Hyundai Motor Group also donated 3 billion won in relief funds to Hope Bridge Korea Disaster Relief As

Jul 20, 2023By Kim Hyun-bin
Top business groups donate to flood, landslide victims
Companies

Lotte chief aims to find new growth engines in health care, mobility

By Kim Hyun-binLotte Group Chairman Shin Dong-bin hosted the 2023 Second Half Value Creation Meeting (VCM) at Lotte World Tower in Seoul, Tuesday, to discuss the group's management and medium- to long-term strategies and find new growth engines in the fields of health and wellness and mobility, according to company officials.The VCM was attended by 80 people including Chairman Shin Dong-bin, Lotte Holdings CEO Lee Dong-woo, heads of various business divisions, subsidiary representatives and Lotte Holdings executives. Lotte Group Chairman Shin Dong-binDuring the VCM, Lotte will assess external factors promoting changes in the corporate management environment, such as increased geopolitical uncertainty, low birth rate, aging population and digital transformation. They also explored strategies for sustainable growth.The company invited external experts to speak on global economic paradigm changes and outlooks as well as the meaning and business implications of generative AI. Lee Dong-woo, CEO of Lotte Holdings, gave an overview of the first half of the year's management performance, ove

Jul 18, 2023By Kim Hyun-bin
Lotte chief aims to find new growth engines in health care, mobility
Companies

LG awards three individuals who helped people in need

From left are Lee Yae-bun, Lee Eun-pil and Choi In-chan. / Courtesy of LG Welfare FoundationBy Kim Hyun-binLG Welfare Foundation awarded the LG Humanitarian Award to three individuals who helped people in need, Tuesday. One of the recipients is Lee Yae-bun, 54, who obtained her beautician qualification in 1995 at age 26. Encouraged by her elder brother, a pastor, she began providing beauty services at a children's welfare facility in Ilsan, Gyeonggi Province. She provided her services to less fortunate neighbors for 28 years.Currently, Lee regularly visits two local children's centers and two nursing homes in Hwaseong, Gyeonggi Province, assisting about 60 people with their haircuts each month. She also personally visits the homes of some elderly and disabled individuals at least once a month to provide her services."Having grown up observing my parents' lifelong dedication to volunteer work, it has become a part of my daily life rather than a special event. If there are people who need my 'scissorhands' in the future, I will continue my volunteer activities," Lee said.LG also awarde

Jul 18, 2023By Kim Hyun-bin
LG awards three individuals who helped people in need
Companies

Hyundai Motor unveils new design for Santa Fe

The all-new Santa Fe / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor unveiled the new design for its flagship midsize SUV, the Santa Fe, for the first time on Tuesday.The newly revealed Santa Fe is a fifth-generation model, launched five years after the fourth generation was introduced. It inherits the design concept of the first-generation Santa Fe, which connects nature and the city, while also optimizing its design for urban and outdoor lifestyles.The exterior of the new Santa Fe showcases a robust image with a boxy shape as its base and a unique silhouette derived from its long wheelbase and wide tailgate.The most eye-catching design feature is the H lights on the front and rear of the vehicle. The front features a lamp that horizontally connects the headlights and the left and right headlamps, creating a wide stance. The interior of the new Santa Fe offers abundant space and features a terrace concept large tailgate that extends the spatial openness. The interior of the new Santa Fe also incorporates the H shape design in the dashboard front, air vents and other el

Jul 18, 2023By Kim Hyun-bin
Hyundai Motor unveils new design for Santa Fe
Companies

1 in 2 Korean firms want more foreign workers: survey

Foreign workers pour molten metal into molds at a factory in Gyeonggi Province in this November 2022 file photo. Korea TimesBy Kim Hyun-binNearly one out of every two companies in Korea are calling on the government to increase the quota of foreign workers they can hire as many small firms struggle to fill their workforce, according to a survey by the Korea Chamber of Commerce & Industry (KCCI), Monday.KCCI surveyed 502 companies employing non-Korean workers and found that 46.8 percent want the current level of 110,000 workers introduced this year to increase in 2024. About 43.2 percent preferred to maintain the current level, while only 9.2 percent suggested reducing it.The government previously raised the quota of non-professional foreign workers holding E-9 visas to 110,000 this year from 69,000 in 2022, to address a labor shortage caused by the COVID-19 pandemic. E-9 visas, which are issued to foreigners working in the manufacturing, construction and agricultural sectors, are valid for four years and 10 months. The Foreign Workers Policy Committee under the Prime Minister's O

Jul 17, 2023By Kim Hyun-bin
1 in 2 Korean firms want more foreign workers: survey
Companies

Kia's India plant hits 1 million vehicle production mark

Park Tae-jin, fifth from right, CEO of Kia Motors India, poses with Andhra Pradesh Minister for Industries Gudivada Amarnath, sixth from right, along with government officials and Kia employees at the Kia India plant in Anantapur, Andhra Pradesh, Thursday (local time). Courtesy of Hyundai Motor GroupBy Kim Hyun-binKia's Indian factory achieved the cumulative production of 1 million units in just four years, according to the company, Friday. In celebration, the company held an event at their Indian factory in Anantapur, Andhra Pradesh, Thursday (local time) attended by 150 people, including government officials and Kia employees.Since the inauguration of the Indian factory in 2019, Kia has produced a total of 532,450 Seltos; 332,450 Sonet; 125,160 Carnival and 14,584 Kia Carnival, thereby achieving the cumulative production of 1 million vehicles Thursday, marking four years of operations.The 1 millionth vehicle produced was the new Seltos, an improved model iteration.Kia's Indian factory, spanning approximately 2.16 million square meters, consists of press, body, paint, assembly and e

Jul 14, 2023By Kim Hyun-bin
Kia's India plant hits 1 million vehicle production mark
Companies

Asiana Airlines pilots' union to begin strike in late July

Asiana Airlines A350 / Courtesy of Asiana AirlinesBy Kim Hyun-binThe pilot union of Asiana Airlines announced on Friday that it will go on strike starting July 24, unable to narrow differences with management over wage negotiations.According to the pilots' union, wage negotiations held until the previous day failed, prompting the union to engage in secondary protest actions and initiate a strike.The secondary protest actions involve refusing flights and causing economic damage to the company by reducing cruising altitude and speed, resulting in increased fuel consumption."Despite over a month of lawful struggles, we made this decision because we could not narrow differences with management," a union representative said. “We concluded that it is impossible to reach an agreement with the company, which proposed freezing wages for three years from 2019 to 2021 and a 2.5 percent increase in 2022.”The representative expressed concern about inconveniences during the summer peak season, saying, "We feel heavy-hearted about potential public inconveniences. The union will strive t

Jul 14, 2023By Kim Hyun-bin
Asiana Airlines pilots' union to begin strike in late July
Companies

POSCO Holdings aims to generate $48 billion in secondary battery material sales by 2030

Jeong Ki-seop, head of POSCO Holdings' strategy office, speaks at the 2nd POSCO Group Secondary Battery Material Business Value Day event at POSCO Center in Seoul, Tuesday. Courtesy of POSCO Holdings. By Kim Hyun-binPOSCO Holdings aims to expand its production capacity for lithium and other key raw materials used in secondary batteries by 2030. The company has set a target of achieving 62 trillion won ($48 billion) in revenue in the secondary battery materials sector. Its announcement came during the 2nd POSCO Group Secondary Battery Material Business Value Day, Tuesday.POSCO Group has set a growth target of 62 trillion won in total revenue for the secondary battery material sector by 2030, representing a 51 percent increase compared to the previous year.In terms of raw materials, the company aims to achieve a total lithium production capacity of 423,000 metric tons with a revenue of 13.6 trillion won. It also plans to secure 240,000 metric tons of high-purity nicke

Jul 11, 2023By Kim Hyun-bin
POSCO Holdings aims to generate $48 billion in secondary battery material sales by 2030
Companies

SK chief encourages state scholarship students to become global leaders

SK Group Chairman Chey Tae-won, who is also the chairman of the Korea Foundation for the Advancement of Science and Creativity, delivers words of encouragement during the overseas scholarship award ceremony at SK's headquarters in Seoul, Monday. Courtesy of SK GroupBy Kim Hyun-binSK Group Chairman Chey Tae-won urged students studying abroad to strive to become global leaders while presenting scholarship certificates to students studying abroad with support from the Korea Foundation for the Advancement of Science and Creativity at SK's building in Seoul, Monday.Chey has been serving as the second director of the foundation since 1998, after his late father-in-law, former SK Group Chairman Chey Jong-hyun. The event was attended by 30 scholarship students, as well as officials from the foundation."Korea is the only country that has transitioned from receiving aid from the Organisation for Economic Cooperation and Development (OECD) to becoming a member country," Chey said. "To be a true leader, you should not forget what you have received from people around you and society, but think of

Jul 11, 2023By Kim Hyun-bin
SK chief encourages state scholarship students to become global leaders
Companies

Ethiopian Airlines marks 10th anniversary of service in Korea

Ethiopian Airlines' Boeing 787 aircraft / Courtesy of Ethiopian AirlinesBy Kim Hyun-binEthiopian Airlines Group, Africa's largest carrier, is commemorating its 10th anniversary of service in Korea. The celebration will take place on Tuesday in Seoul. Ethiopian Airlines commenced operations on June 19, 2013, connecting Seoul with Addis Ababa, the capital of Ethiopia, thereby linking Africa and Korea. The decision to open this route was driven by the flourishing economic ties, trade, investment, business and tourism relations between Africa, Asia and Korea.Initially, Ethiopian Airlines operated the Addis Ababa (ADD) to Incheon (ICN) via Hong Kong route using the B767 aircraft model. However, since June 2014, the airline has utilized the B787. Currently, Ethiopian Airlines operates the ADD-ICN-Narita (Japan) route five times a week.Over the past decade, Ethiopian Airlines has successfully connected Korea with over 60 destinations in Africa, operating approximately 3,200 flights. During this period, the airline transported more than 225,000 passengers and 65,000 tons of cargo. Notably, b

Jul 10, 2023By Kim Hyun-bin
Ethiopian Airlines marks 10th anniversary of service in Korea
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