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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

POSCO named sustainability champion for 2nd consecutive year

POSCO Group Chairman Choi Jeong-woo, left, poses with Edwin Basson, director general of the World Steel Association, after receiving a plaque recognizing it as a Steel Sustainability Champion in Vienna, Austria, April 18 (local time). Courtesy of POSCO GroupBy Kim Hyun-binPOSCO, the country's leading steel company, has been recognized as a Steel Sustainability Champion at the World Steel Association's semi-annual member meeting held in Vienna, Austria, on April 18 (local time). This marks the second consecutive year that POSCO has been recognized as a Steel Sustainability Champion. The World Steel Association selects Steel Sustainability Champions annually from its pool of 140 member companies, honoring those leading the steel industry in carbon neutrality and environmental, social and corporate governance (ESG) principles since 2018. To qualify as a Steel Sustainability Champion, companies must meet four criteria: recognition as an outstanding sustainability member, nomination as a finalist for the Steelie Awards, publication of a sustainability report and submission of sustainabili

May 28, 2023By Kim Hyun-bin
POSCO named sustainability champion for 2nd consecutive year
Companies

Chinese carmakers challenge Hyundai Motor, Kia in global markets

By Kim Hyun-binChinese cars, previously considered cheap knockoffs, have gained recognition for their price competitiveness and performance, including electric vehicles (EVs), despite the U.S. implementing the Inflation Reduction Act (IRA) to reduce Chinese competition, according to Industry officials here. They fear the continuous rise will take a significant toll on Hyundai Motor and Kia in Europe and other global markets in the coming years.According to the Korea Automobile Manufacturers Association (KAMA), China became the world's top automobile exporter for the first quarter of this year. China surpassed Japan, exporting 994,000 vehicles, while Japan exported 954,000 vehicles during the same period. China's automobile exports consisted of 826,000 passenger cars and 168,000 commercial vehicles, including buses and trucks. Approximately 80 percent of China's export volume comprises pure Chinese brand products.“Last year, China became the second-largest exporter and this year, in April, it became the largest. Although China will continue to grow its domestic market, ultimatel

May 27, 2023By Kim Hyun-bin
Chinese carmakers challenge Hyundai Motor, Kia in global markets
Companies

Major semiconductor equipment companies rush to build plants in Korea

By Kim Hyun-binGlobal semiconductor equipment companies are rushing to build plants, and research and development facilities in Korea in order to reduce China risk while strengthening partnerships with Samsung Electronics and SK hynix, according to industry officials, Thursday."In Korea, there are global semiconductor companies such as Samsung Electronics and SK hynix, and as the processes become more advanced, the importance of close collaboration between component suppliers and these customers is increasing,” an official from a major local semiconductor company said.“Furthermore, as both companies plan to establish large-scale semiconductor fabs in their respective countries, the Korean market will become even more attractive to component suppliers."Dutch semiconductor equipment company ASM held a groundbreaking ceremony for its second Manufacturing Research and Innovation Center in Dongtan, Gyeonggi Province. ASM is the world's leading company in the atomic layer deposition (ALD) equipment field, which is used in advanced semiconductor manufacturing. Korea serves as AS

May 25, 2023By Kim Hyun-bin
Major semiconductor equipment companies rush to build plants in Korea
Companies

Major Korean companies awarded for ESG efforts

Korea Times President-Publisher Oh Young-jin, front row eighth from left, poses with Thomas Clark, a partner at Statista, front row seventh from left, along with representatives from award-winning companies at Korea's Sustainability Leaders 2023 awards ceremony at the Korea Press Center in Seoul, Thursday. Korea Times photo by Choi Won-sukBy Kim Hyun-binThe Korea Times held an event to honor companies leading in environment, social and corporate governance (ESG) efforts during an award ceremony hosted jointly by its sister paper, The Hankook Ilbo, and Statista, a German market research firm, at the Korea Press Center in Seoul, Thursday.Over 30 representatives from Korean companies, including SK hynix, Samsung SDI, LX Hausys and LG Electronics, attended the ceremony to receive the prestigious awards.Korea Times President-Publisher Oh Young-jin, front row third from right, speaks with Thomas Clark, a partner at Statista, front row fourth from right, during Korea's Sustainability Leaders 2023 awards ceremony at the Korea Press Center in Seoul, Thursday. Korea Times photo by Shim Hyun-ch

May 25, 2023By Kim Hyun-bin
Major Korean companies awarded for ESG efforts
Companies

Hyundai Motor chief speaks to young Koreans

Hyundai Motor Group Chairman Chung Euisun, center, speaks to an audience of young people during an event in Seoul hosted by the Federation of Korean Industries (FKI), Thursday. From left are SOCAR CEO Park Jae-wook, Chung, and celebrity turned-CEO Noh Hong-chul. Courtesy of FKI

May 25, 2023By Kim Hyun-bin
Hyundai Motor chief speaks to young Koreans
Companies

Peugeot aims to expand presence in Korea

Peugeot CEO Linda Jackson speaks about the company's efforts to boost its brand image in Korea during the first Peugeot Brand Day in Seoul, Wednesday. Courtesy of Stellantis KoreaBy Kim Hyun-binStellantis Korea hosted a "Peugeot Brand Day" on Wednesday, sharing the brand identity and core values that encompass Peugeot's past, present and future. Linda Jackson, CEO of Peugeot Brand, and Matthias Hossann, Peugeot Design Director, attended the event, expressing their strong commitment to bolstering the brand in Korea. "The direction in Korea can undoubtedly have a halo effect in other global markets, which is why we swiftly introduced this model in Korea," CEO Linda Jackson said. She further explained that Korea is the market to debut the New Peugeot 408 first in the IAP (India, Asia, Pacific) region.”Jackson also exuded confidence in the New Peugeot 408, which will expand Peugeot's foothold in Korea. Stellantis plans to operate a city test drive center, enabling easy access for individuals to experience the vehicle. "With the launch of the New 408, we will devote our utmost effor

May 24, 2023By Kim Hyun-bin
Peugeot aims to expand presence in Korea
Companies

Hyundai Motor clinches victory at Nurburgring Endurance Series

Two Elantra N TCRs cross the finish line at the 2023 Nurburgring 24 Hour endurance race side by side in Germany, Sunday. Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor's high-performance N brand won the grueling Nurburgring 24 Hour endurance race in Germany, the company said Monday. Its Elantra N TCR and i30 Fastback N Cup Car secured first place in their respective classes, TCR and VT2, during this year's competition at the Nurburgring from May 20 to 21.The Nurburgring Endurance Series, nicknamed “Green Hell,” determines the winner based on the vehicle that covers the longest distance within a 24-hour period. The race presents a challenging driving environment with narrow roads, steep elevation changes and blind corners.A total of 131 vehicles participated in the race, with 67 percent or 88 vehicles completing it successfully. Hyundai fielded two Elantra N TCRs and two i30 Fastback N Cup cars. The Elantra N TCR claimed the TCR class championship for the third consecutive year, securing an overall ranking of 27. The i30 Fastback Cup car took first place in th

May 22, 2023By Kim Hyun-bin
Hyundai Motor clinches victory at Nurburgring Endurance Series
Companies

LS Group to invest $15.1 billion in batteries, EVs, chips

By Kim Hyun-binLS Group announced a plan to invest 20 trillion ($15.1 billion) in future growth engines to gain competitiveness in the fields of electrification and digital innovation, which are in line with the company's Vision 2030 strategy that centers on carbon-free electricity.“In order to strengthen business competitiveness in the fields of batteries, electric vehicles (EV), and semiconductors, we will boldly invest more than 20 trillion won over the next eight years. Let's be reborn as a global market-leading group with assets of 50 trillion, which double by 2030 from the current 25 trillion,” LS Group Chairman Koo Ja-eun said.LS Group Chairman Koo Ja-eunLS Electric, a subsidiary of LS Group, already established and operates a state-of-the-art smart factory at its Cheongju No. 1 plant in North Chungcheong Province. The facility boasts an automated system that spans component supply, assembly, testing, and packaging, enabling increased production efficiency. LS Electric plans to expand its low-voltage device line to produce 20,000 units per day, while reducing energ

May 22, 2023By Kim Hyun-bin
LS Group to invest $15.1 billion in batteries, EVs, chips
Companies

Korean Air faces headwind from US, EU over Asiana Airlines acquisition

Korean Air B787-9 / Courtesy of Korean Air Flagship carrier expected to yield more key routes, slots to foreign rivalsBy Kim Hyun-binKorean Air is facing growing headwind in its bid to acquire domestic rival Asiana Airlines as U.S. and European transport authorities are increasingly reluctant to give the green light, citing concerns about monopoly, according to industry officials and media reports, Friday.According to Politico, the U.S. Department of Justice (DOJ) is reviewing options to file a lawsuit to block the acquisition of Asiana Airlines by Korean Air. The possible lawsuit is based on concerns that the acquisition could harm competition in passenger and cargo transportation between the U.S. and Korea. However, the decision to file a lawsuit has not been finalized.While the U.S. does not have jurisdiction over Korea-based airlines, Politico reported that it could explore measures to prevent corporate consolidation if it has a negative impact on competition wi

May 19, 2023By Kim Hyun-bin
Korean Air faces headwind from US, EU over Asiana Airlines acquisition
Companies

Hyundai Motor's Pony Coupe restored in Italy after 50 years

Hyundai Motor Group Executive Chair Chung Euisun, left, poses with renowned designer Giorgetto Giugiaro in front of the Pony Coupe concept car unveiled in Lake Como, Italy, Thursday (local time). Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor recreated the Pony Coupe concept car almost 50 years after its original debut. The concept car, initially unveiled at the 1974 Turin Motor Show, holds significant importance in Hyundai Motor's history and design legacy.The recreated concept car was revealed in Lake Como, Italy at the inaugural Hyundai Reunion, a heritage brand platform that reflects on Hyundai Motor's past and future direction. Giorgetto Giugiaro and his son Fabrizio Giugiaro, both renowned designers, were invited to the event. The restoration project focused on the car that led to the creation of Hyundai's influential Pony line-up, which was Korea's first independently developed, mass-production model.Under the Pony Coupe restoration project, Hyundai Motor revived the original Pony Coupe showcased at the 1974 Turin Motor Show. "I express my sincere gratitude to eve

May 19, 2023By Kim Hyun-bin
Hyundai Motor's Pony Coupe restored in Italy after 50 years
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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.