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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

HD Hyundai, LS, Hyosung vie to secure upper hand in US electric transformer market

LS Electric's plant produces high-voltage transformers in Busan / Courtesy of LS Electric By Kim Hyun-binDemand for industrial transformers in North America has surged, providing a boost for the Korean transformer equipment industry and triggering competition for clients among local electric equipment companies, according to industry officials, Friday.According to a report by Korea Trade-Investment Promotion Agency (KOTRA), the North American market for voltage-boosting power transformers is projected to reach $6.44 billion by 2030, with an average annual growth rate of 6.4 percent. For voltage-reducing distribution transformers, an annual growth rate of 3.8 percent is expected until 2028.Currently, over 33 percent of industrial transformers in the U.S. have been in use for more than 30 years. Considering their typical lifespan of 30 to 40 years, the replacement cycle is nearing. The extensive infrastructure projects undertaken by the U.S. for economic stimulus are

Jul 1, 2023By Kim Hyun-bin
HD Hyundai, LS, Hyosung vie to secure upper hand in US electric transformer market
Companies

Brokerages raise outlooks for Hyundai Motor, Kia stocks

By Kim Hyun-binHyundai Motor and Kia are forecast to announce strong earnings results in the second quarter of this year on the back of robust sales in North America, prompting securities firms to the raise target prices of those carmakers, Monday.Daishin Securities released a report, Friday, hiking the target prices of Hyundai Motor and Kia shares to 300,000 won ($227) and 155,000 won, respectively, from 280,000 won and 140,000 won, expecting both automakers to display robust second-quarter performances.“Hyundai Motor's sales in North America are expected to continue expanding, contributing to the increased attractiveness of the company's stock. Second-quarter sales would reach approximately 41 trillion won, surpassing the consensus estimate by 11 percent,” Daishin Securities analyst Kim Gwi-yeon said.“Even with ongoing concerns about exchange rate uncertainties impacting Hyundai Motor's performance, the company can secure an annual profit capacity of 12 trillion won, assuming a decline in the exchange rate.”Kia is also expected to show solid growth driven by

Jun 30, 2023By Kim Hyun-bin
Brokerages raise outlooks for Hyundai Motor, Kia stocks
Companies

Korean tech firms launch AI promotion council

Minister of Science and ICT Lee Jong-ho delivers a congratulatory speech at the inaugural ceremony of the AI Promotion Council at Naver 1784 in Bundang, Gyeonggi Province, Thursday. Ministry of Science and ICTBy Kim Hyun-binKorean artificial intelligence (AI) firms launched an AI Promotion Council to better grasp the lead in the fast-changing sector, according to government and industry officials, Thursday. Minister of Science and ICT Lee Jong-ho attended the inaugural ceremony of the AI Promotion Council held Thursday at Naver 1784 in Seongnam, Gyeonggi Province, along with Korea Software Industry Association (KOSA) Chairman Cho Joon-hee and Naver Cloud CEO Kim Yu-won."As a co-chairperson of the council, I will work actively to gather the voices of the industry, resolve industrial issues, and foster collaboration among companies to create various AI-based applications. By integrating the high-level technology and know-how of council members, including HyperCLOVA X, we will protect AI sovereignty in the global AI competition and contribute to establishing ourselves as a digital power

Jun 30, 2023By Kim Hyun-bin
Korean tech firms launch AI promotion council
Companies

KT&G receives highest credit rating of AAA

By Kim Hyun-binTobacco and ginseng products maker KT&G received the highest credit rating of AAA from three major domestic rating agencies. That rating excludes financial and telecommunications companies. KT&G headquarters in Daejeon / Courtesy of KT&GKorea Ratings, Korea Credit Rating and NICE Credit Rating announced the AAA rating, Sunday. Among private non-financial and non-telecommunications companies in Korea, KT&G is the sole entity to receive an AAA credit rating.Credit rating agencies recognized KT&G's exceptional financial stability, which is attributed to its strong market position in key sectors. The company's extensive track record, robust brand recognition leading to a dominant share of the domestic market and positive evaluation of its global tobacco and e-cigarette business were crucial factors contributing to the rating.Furthermore, the agencies anticipate that KT&G will maintain strong financial stability by effectively addressing future capital requirements through consistent cash flow generation. The company's focus on shareholder returns, s

Jun 29, 2023By Kim Hyun-bin
KT&G receives highest credit rating of AAA
Companies

Shuttle Delivery, what3words aim to make precise delivery to expats in Korea

A Shuttle Delivery worker delivers food in Seoul. Shuttle Delivery, bilingual delivery platform partners with what3words to offer the best delivery service for Korea's foreign community. Courtesy of what3words By Kim Hyun-binKorea is fast becoming a popular destination for tourists and expats. At the end of 2022, there were 2.25 million foreign residents living in Korea, making up 4.37 percent of the total domestic population, a year-on-year rise of 14.8 percent. For people living far away from their country and missing their friends and family, one source of comfort is eating food that reminds them of home. People living in the Yongsan area of Seoul, the district with the third-largest foreign population in Seoul, have a variety of international restaurant options available to them, as well as specialized grocery stores in Itaewon. However, there is less choice for people residing in different parts of Seoul or other cities in Korea, and sourcing non-local cuisines

Jun 28, 2023By Kim Hyun-bin
Shuttle Delivery, what3words aim to make precise delivery to expats in Korea
Companies

Samsung Electronics opens flagship store in Gangnam

Media art is displayed at “The Wall” installed on the fourth floor of Samsung Gangnam, featuring 8K high-definition quality in southern Seoul, Wednesday. Samsung Electronics opened its new experiential flagship store, Samsung Gangnam, in the prime commercial area. Samsung Gangnam is a large-scale flagship store spanning a total of six floors, from the basement to the fifth floor, with approximately 2,000 square meters of floor space. Courtesy of Samsung Electronics

Jun 28, 2023By Kim Hyun-bin
Samsung Electronics opens flagship store in Gangnam
Companies

More workers seek side jobs amid soaring living costs

Companies concerned about falling worker productivityBy Kim Hyun-binA 39-year-old office worker surnamed Park is considering opening a self-service laundromat business to secure a source of secondary income apart from his main occupation. Although Park works for a major Korean business conglomerate, he is seeking to earn more money amid deepening economic uncertainties and rising living costs.“Opening up unmanned shops has become a trend lately. You can find an unmanned shop in most neighborhoods these days. I myself am considering opening up an unmanned laundromat as it does not overlap with my main occupation and is a good secondary source of income,” Park said.Like Park, an increasing number of workers are seeking to find an additional source of income as the rising cost of living and high interest rates take a toll on their pocketbooks leading them to pursue side jobs as relying solely on the monthly salary from their main jobs is increasingly difficult. The prolonged economic downturn also poses a risk as companies face difficulties with even well-known firms such as

Jun 28, 2023By Kim Hyun-bin
More workers seek side jobs amid soaring living costs
Companies

Hyundai Mobis holds 'Media Tech Day' showcasing latest display technologies

Han Young-hoon, Hyundai Mobis head of Electronics Convenience and Control speaks about the company's innovative display technologies during the 2023 Media Tech Day at The Studio M in Yongin, Gyeonggi Province, Monday. Courtesy of Hyundai MobisBy Kim Hyun-binHyundai Mobis offered a snapshot of its future vision during the “2023 Media Tech Day” at the auto parts maker's The Studio M in Yongin, Gyeonggi Province, Monday, aiming to become a leader in the burgeoning field of vehicle displays spearheaded by advancements in autonomous driving, and connectivity technology.During the event, the Hyundai Motor Group affiliate emphasized its strategy of becoming the lead innovator in the field highlighting proprietary technologies, including the world's first 34-inch curved display called the "swivel display," a rollable display, and hologram AR-HUD technologies.Hyundai Mobis also revealed plans to secure market-leading technologies, such as Passenger Interactive Displays, Quantum Dot (QD) Mini LED Displays, Natural 3D Displays, Hologram AR-HUD, and Micro LED Displays. The Passenger

Jun 27, 2023By Kim Hyun-bin
Hyundai Mobis holds 'Media Tech Day' showcasing latest display technologies
Companies

Doosan Corp. to expand production of EV materials in Vietnam

Doosan Corp. Electro-Materials BG CEO Yoo Seung-woo, left, poses with Hai Duong Director Trieu The Hung after signing an MOU to enhance collaboration in electronic materials in Hanoi, Vietnam, Friday. Courtesy of Doosan Corp.By Kim Hyun-binDoosan Corp., a multinational conglomerate, is partnering with Hai Duong, a Vietnamese city near Hanoi, to explore new business opportunities based on the company's advanced electronic materials manufacturing technology, according to the company, Sunday.Doosan announced that it has signed a memorandum of understanding (MOU) with Hai Duong, focusing on cooperation in the field of electronic materials.The MOU signing ceremony, held as part of President Yoon Suk Yeol's state visit to Vietnam, was attended by Industry, Trade and Energy Minister Lee Chang-yang, Doosan Corp. Electro-Materials BG CEO Yoo Seung-woo and Hai Duong Director Trieu The Hung.Under the agreement, Doosan plans to expand its patterned flat cable (PFC) production facility located in Hanoi and consider further investments to contribute to job creation and regional economic developmen

Jun 25, 2023By Kim Hyun-bin
Doosan Corp. to expand production of EV materials in Vietnam
Companies

Hyundai Motor Group to foster local workforce in Vietnam

Hyundai Motor Group Executive Chair Chung Euisun, left, poses with Le Quan, president of the Vietnam National University Hanoi, after the two agreed to increase cooperation in fostering local experts, at the Vietnam National University Hanoi, Friday. Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor Group plans to establish a cooperative center with the Vietnam National University Hanoi, aiming to expand education and social contribution initiatives and secure specialized personnel for local production facilities in the region. Hyundai Motor Group Executive Chair Chung Euisun met with Le Quan, president of the Vietnam National University Hanoi, in Vietnam Friday, to discuss the necessity of fostering the next generation of innovative workers and potential cooperation methods."This collaboration aims to nurture local future experts and expand opportunities to secure specialized personnel in response to the increasing need for skilled workers in Vietnam's business expansion,” Hyundai Motor Group said in a press release.“Furthermore, it aligns with Chairman Chung's

Jun 25, 2023By Kim Hyun-bin
Hyundai Motor Group to foster local workforce in Vietnam
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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.