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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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Korean Air unveils special aircraft decoration to promote Busan Expo bid

Prime Minister Han Duck-soo, center, poses with Bidding Committee for World Expo 2030 Busan Co-Chairman Chey Tae-won, fourth from right, Korean Air CEO Cho Won-tae, fourth from left, and other government and company officials in front of a special Boeing 777-300ER aircraft bearing a decorative image in support of Busan's bid to host the World Expo 2030 at the airline's hangar at Incheon International Airport, Wednesday. From third from left are Korean Air President Woo Kee-hong, Cho, Han, Chey and senior presidential secretary to the for future strategy Jang Sung-min. Courtesy of Korean Air By Kim Hyun-binKorean Air unveiled a special design for its Boeing 777-300ER aircraft to support Busan's bid to host the World Expo 2030 at the airline's hangar at Incheon International Airport, Wednesday.The ceremony was attended by Prime Minister Han Duck-soo, Korean Air Chairman and CEO Cho Won-tae, Bidding Committee for World Expo 2030 Busan Co-Chairman Chey Tae-won, senior p

May 3, 2023By Kim Hyun-bin
Korean Air unveils special aircraft decoration to promote Busan Expo bid
Companies

POSCO to produce nickel for secondary batteries in Indonesia

POSCO Center in Seoul / Courtesy of POSCOBy Kim Hyun-binPOSCO Holdings is seeking to expand overseas nickel production, a key material in secondary batteries, in an effort to strengthen its global nickel value chain. According to POSCO Holdings, the company will invest $441 million to establish a nickel refining plant in Weda Bay Industrial Park on Indonesia's Halmahera Island, Wednesday.The company is expected to produce about 52,000 tons of nickel matte annually, which is enough to produce batteries for 1 million electric vehicles (EVs). The plan is to start construction this year and begin production in 2025.Nickel is a crucial material that determines the performance and capacity of EV batteries, and its demand is increasing rapidly due to the swift growth of the EV market.Indonesia is the holder of the world's largest nickel deposits and is pursuing industrial upgrades across the entire nickel production value chain, providing benefits such as tax and industrial infrastructure support to attract foreign investments.POSCO Holdings' strategy is to establish an efficient production

May 3, 2023By Kim Hyun-bin
POSCO to produce nickel for secondary batteries in Indonesia
Companies

Major companies strengthen R&D investments despite economic downturn

Samsung Electronics headquarters in Seoul / Korea Times fileBy Kim Hyun-binMajor companies are boosting research and development and facility investments to enhance future competitiveness despite sluggish performance amid a severe economic downturn, according to industry officials, Tuesday. Samsung Electronics recorded the lowest quarterly performance in 14 years with an operating profit of 640.2 billion won ($477.6 million) in the first quarter of this year. However, the company is set to inject its largest amount ever into R&D and facility investments.Samsung's R&D investments in the first quarter came to 6.58 trillion won more than 10 times the quarter's operating profit of 640 billion won. The company also injected 10.7 trillion won into facility investments, an increase of 36 percent compared to the same period last year and the largest amount for any first quarter. "This year, we will increase wafer input development to prepare for more competitive future products," Kim Ki-nam, CEO of Samsung's semiconductor division, said at a management briefing for employees on April

May 2, 2023By Kim Hyun-bin
Major companies strengthen R&D investments despite economic downturn
Companies

Samsung initiates 'Sharing Month' to help children in need

Samsung Electronics employees pose next to a “Sharing Kiosk” where employees can make donations to help children in need at the company's Hwaseong plant in Gyeonggi Province, Tuesday. Courtesy of Samsung ElectronicsBy Kim Hyun-binSamsung Electronics will launch the month-long "Sharing Month" campaign in May, driven by employee participation. Samsung employees will support 20 children from low-income households through a “Sharing Kiosk" installed at workplaces and online to fund the campaign, according to the company, Tuesday.The Sharing Month campaign, which is being held for the first time this year, is designed to encourage donations through the Sharing Kiosk, which has become a platform for Samsung employees to make donations. Donations worth 1,000 won ($0.84) will be made each time an employee taps their ID on the Sharing Kiosk.During the campaign, Samsung will support one child per day introduced through the Sharing Kiosks set up in Samsung's nationwide offices as well as introduce the child's story on the company's intranet. In addition, the company will opera

May 2, 2023By Kim Hyun-bin
Samsung initiates 'Sharing Month' to help children in need
Companies

Hanwha Foundation of Culture to support artists

By Kim Hyun-binThe Hanwha Foundation of Culture announced the launch of the Youngmin International Artist Residency program on Monday, aimed at discovering promising young artists in Korea and supporting their creative activities. The program will collaborate with three art institutions: the Cite Internationale des Arts in Paris, France; the ECO Residencies in Vienna, Austria; and the Headlands Center for the Arts in San Francisco.Youngmin International Artists Residency poster funded by the Hanwha Foundation of Culture / Courtesy of Hanwha Foundation of CultureThe foundation will select a total of four people, including artists and students majoring in art, to reside in each institution and provide support for residency fees, living expenses and airfares. The program aims to expand the activities of young artists and create a networking platform for international exchange.The program is funded by a donation from the late Seo Young-min, the wife of Hanwha Group Chairman Kim Seung-youn. She was interested in the activities of young Korean artists and left a portion of her inheritance

May 1, 2023By Kim Hyun-bin
Hanwha Foundation of Culture to support artists
Companies

Only US, EU, Japan decisions remaining for Korean Air-Asiana takeover

Korean Air B787-9 / Courtesy of Korean AirBy Kim Hyun-binKorean Air's takeover of Asiana Airlines is under the spotlight after Hanwha Group gained the green light to acquire Daewoo Shipbuilding & Marine Engineering (DSME).Korean Air has gained approval from competition authorities from 11 countries and is currently awaiting approval from the U.S., the European Union (EU) and Japan. Adjustments to the airlines' combined operation cannot be initiated until the mandatory reporting countries give their approval. The U.S. Department of Justice received additional information related to the acquisition from Korean Air in August last year and extended the review period the following November. The EU is conducting an in-depth review with a deadline of Aug. 3, and pre-consultations with Japan are underway. The outline of the combination of the two airlines' operations under Korean Air is expected to be revealed in the second half of this year, but some believe the process may continue until the first half of next year due to the EU's stricter standards. Some industry officials predict tha

May 1, 2023By Kim Hyun-bin
Only US, EU, Japan decisions remaining for Korean Air-Asiana takeover
Companies

Hyundai Motor Avante N TCR achieves double podium at TCR World Tour

Hyundai Motor's Elantra N TCR racing around the tracks at the 2023 TCR World Tour held in Portugal from April 28 to 30. Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor's Elantra N TCR won first and second places at the first race of the 2023 TCR World Tour, which took place from April 28 to 30 at the Algarve International Circuit in Portugal, the company announced, Monday.According to Hyundai Motor, the TCR World Tour, which started this year, differs from the previous World Touring Car Cup (WTCR) as the competition selects nine events from the TCR series held around the world instead of being a single event. It ranks drivers based on the points they earn. The TCR series is held in over 40 countries with more than 650 drivers participating in 25 car models from 16 brands. The TCR World Tour is scheduled to take place on four continents and in seven countries, including Portugal, Belgium, Italy, Hungary, Uruguay, Argentina, Australia and Macao. The top 15 drivers with the most points from the nine races will compete in the TCR World Final, which will be held later this yea

May 1, 2023By Kim Hyun-bin
Hyundai Motor Avante N TCR achieves double podium at TCR World Tour
Companies

Hyundai Motor chief's leadership in spotlight for Q1 revenue achievement

Hyundai Motor's IONIQ 6 / Courtesy of Hyundai Motor Group By Kim Hyun-binHyundai Motor exceeded the revenue of Samsung Electronics in the first quarter, the first time in 14 years the carmaker took over the top spot since the introduction of the international fiscal year in 2009. Many experts believe this is attributable to the bold leadership of Executive Chair Chung Euisun, who led early investments into and adoption of innovative new technologies such as electric vehicles (EV) and robotics.Hyundai Motor recorded sales of 37.7 trillion won ($28.1 billion) and an operating profit of 3.59 trillion won in the first quarter of this year. Both sales and operating profit are at all-time highs on a quarterly basis. Hyundai Motor Group Executive Chair Chung Euisun In terms of profits, the company surpassed Samsung Electronics and ranked first among listed

Apr 30, 2023By Kim Hyun-bin
Hyundai Motor chief's leadership in spotlight for Q1 revenue achievement
  • Hyundai Motor chief to join Korean version of Buffett lunch project
Companies

Opposition-led Assembly unilaterally passes Nursing Act

Lawmakers pass the Nursing Act during a plenary session at the National Assembly in Seoul, Thursday. Yonhap The opposition-controlled National Assembly on Thursday passed the Nursing Act aimed at defining the roles and responsibilities of nurses in a clearer manner amid fierce opposition from the ruling party and doctors.The bill was approved in a plenary session with 179 votes in favor and two abstentions out of 181 lawmakers present. All but two members of the ruling People Power Party (PPP), which has opposed the bill, boycotted the vote and walked out of the chamber en masse before voting began.The bill is aimed at stipulating the roles and responsibilities of nurses, as the Medical Service Act only states ― without laying out specific roles ― that nurses must perform medical assistance under the guidance of a medical doctor.The bill also aims to improve the working conditions of nurses.But doctors and other critics, especially practical nurses, have opposed the

Apr 27, 2023By Kim Hyun-bin
Opposition-led Assembly unilaterally passes Nursing Act
Companies

KITA chief discusses ways to boost bilateral trade with US politicians

Koo Ja-yeol, left, chairman of the Korea International Trade Association, speaks with U.S. Rep. Young Kim in Washington, D.C., Wednesday (local time). Courtesy of KITABy Kim Hyun-binKorea International Trade Association (KITA) Chairman Koo Ja-yeol exchanged views with key U.S. politicians and government officials regarding global supply chains, government subsidies and the U.S. Inflation Reduction Act (IRA) during his visit to Washington, D.C., from April 24 to 27, according to the trade promotion body, Thursday.On April 26, the chairman discussed recent U.S. Congress trends related to Korean companies in the U.S. with Young Kim, a Republican representative of California who chairs the House Foreign Affairs Subcommittee on the Indo-Pacific, which deals with diplomatic issues between Korea and the U.S. In the meeting, they discussed support for semiconductor and electric vehicle (EV) subsidies, and the bill to establish a new visa quota for Korean professional workers. Kim jointly introduced the Partnering with Korea Act with Democratic Rep. Gerry Connolly, which includes issuing 15,0

Apr 27, 2023By Kim Hyun-bin
KITA chief discusses ways to boost bilateral trade with US politicians
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