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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

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
Companies

KEF chief meets Heritage Foundation head to boost policy cooperation

Sohn Kyung-shik, left, chairman of Korea Enterprises Federation, poses with Kevin Roberts, chairman of the Heritage Foundation while holding “Mandate for Leadership,“ a policy analysis report created by the foundation in Washington, D.C., Tuesday (local time). Courtesy of KEFBy Kim Hyun-binChairman of Korea Enterprises Federation (KEF) Sohn Kyung-shik visited the Heritage Foundation in Washington, D.C., and met with the Chairman of the Heritage Foundation Kevin Roberts on Tuesday (local time). Discussions involved labor market reforms such as flexible working hours currently being pursued in Korea and ways to enhance cooperation between the two organizations in the future, according to the business lobby group, Wednesday.Established in 1973, The Heritage Foundation is one of the leading nonprofit think tanks in the U.S. and serves as a policy advisory partner to the U.S. government.Chairman Sohn and Mr. Roberts evaluated that President Yoon Suk Yeol's state visit to the U.S., with the largest-ever economic delegation to mark the 70th anniversary of the U.S.-Korea alliance

Apr 26, 2023By Kim Hyun-bin
KEF chief meets Heritage Foundation head to boost policy cooperation
Companies

Korean, US biz leaders agree to enhance cooperation

Samsung Electronics Executive Chairman Lee Jae-yong, front row third from right, takes part in the Korea U.S. Business Roundtable with SK Group Chairman Chey Tae-won, front row second from left, and Hyundai Motor Group Executive Chair Chung Euisun, front row right, along with other U.S. and Korea business leaders at the U.S. Chamber of Commerce in Washington, D.C., Tuesday (local time). Yonhap By Kim Hyun-binKorean and U.S. business leaders agreed to enhance cooperation in the fields of advanced industry, supply chains and core technology cooperation during President Yoon Suk Yeol's visit to the U.S. Chamber of Commerce in Washington, D.C. The two sides held the Korea-U.S. Business Roundtable and the Korea-U.S. Advanced Industry Forum, which was hosted by the Federation of Korean Industries (FKI), Tuesday (local time).A total of 39 leaders from major Korean companies, including Samsung, SK, Hyundai Motor, LG and Lotte, as well as representatives from key U.S. compan

Apr 26, 2023By Kim Hyun-bin
Korean, US biz leaders agree to enhance cooperation
  • Korea, US sign 23 MOUs on stronger ties in batteries, nuclear power, advanced industries
  • Korea, US sign 23 MOUs to bolster ties in batteries, bio, nuclear power
Companies

Sportstoto Korea expands services for foreigners

Sportstoto Korea logo / Courtesy of Sportstoto KoreaBy Kim Hyun-binSportstoto Korea is expanding its services for foreign residents on its official website, Betman.co.kr. Starting April 27, foreign residents can sign up for Betman in an effort to attract new customers and strengthen the competitiveness of the Sportstoto business.According to the operational policies published on the Betman website, only Korean citizens holding a resident registration number were previously able to sign up for Betman, leaving foreign residents having to visit retail shops to purchase Sportstoto cards. The reorganization of operating policies and systems was aimed at solving this inconvenience. The sign-up process involves accessing the Betman website, clicking "sign up," agreeing to the terms and conditions, completing verification and entering personal information.To purchase Sportstoto from Betman, users must register their own accounts for transactions. Accounts in another person's name or suspended accounts have limited registration. Members of Betman can enjoy various services, such as analysis o

Apr 26, 2023By Kim Hyun-bin
Sportstoto Korea expands services for foreigners
Companies

Homeplus appeals to customers with good-quality, low-price products

A model looks at Homeplus Signature products at a Homeplus Mega Food Market in Seoul. Courtesy of HomeplusBy Kim Hyun-binHomeplus initiated a "price stabilization project" for the first time among all large retail stores in Korea last year to alleviate the burden of rising prices. It plans to maintain the project this year to help customers deal with high prices. The project has been successful due to the popularity of the company's private brand, Homeplus Signature, which has seen a 33 percent increase in sales compared to 2019. From January to March this year, online sales of Homeplus Signature also increased by 36 percent compared to the same period last year.Launched in November 2019, Homeplus Signature set a new standard for private brand products by focusing on quality and differentiation rather than just low prices. The company meticulously chooses products that meet its "Selected with Pride" standard, which considers quality, differentiation and continuous customer satisfaction. Along with their reasonable prices, the high quality of its products has helped create a "lock-in"

Apr 26, 2023By Kim Hyun-bin
Homeplus appeals to customers with good-quality, low-price products
Companies

POSCO becomes Korea's 5th largest conglomerate, surpassing Lotte

Han Ki-jeong, chairman of the Fair Trade Commission, is announcing the results of the 2023 designation of conglomerates subject to tighter supervision at the Sejong Government Complex, Tuesday. Courtesy of FTCBy Kim Hyun-binPOSCO has become Korea's fifth largest business group in terms of asset size, overtaking Lotte Group, which had maintained the title of one of the nation's top five conglomerates since 2010, according to the country's antitrust agency, Tuesday.The Fair Trade Commission (FTC) said POSCO Holdings, the group's holding firm split from steelmaker POSCO in March last year, was allowed to add its 100-percent stake in POSCO, worth 30 trillion won ($22.4 billion), to the total amount of assets held by the group. On the back of this addition, POSCO was able to push Lotte down to the sixth spot, FTC said.The top ten conglomerates by total asset value are Samsung, SK, Hyundai Motor, LG, POSCO, Lotte, Hanwha, GS, HD Hyundai and National Agricultural Cooperative Federation (NongHyup).In addition, the FTC decided to add eight more business groups ― LX, EcoPro, Korea H&C, Glo

Apr 25, 2023By Kim Hyun-bin
POSCO becomes Korea's 5th largest conglomerate, surpassing Lotte
Companies

Chaebol tycoons visit US with IRA, CHIPS Act in mind

Major chaebol heads sit in a row at a Korea-Japan Business Round Table held at the Keidanren Hall in Tokyo while President Yoon Suk Yeol gives remarks. From right are Samsung Chairman Lee Jae-yong, SK Chairman Chey Tae-won, Hyundai Motor Chairman Chung Euisun, LG Chairman Koo Kwang-mo, Lotte Chairman Shin Dong-bin, Kolon Honorary Chairman Lee Woong-yeul, Poongsan Chairman Ryu Jin, Hyosung Chairman Cho Hyun-joon on March 17. Korea Times fileBy Kim Hyun-binA total of 122 Korean business leaders, including the heads of major business groups, are accompanying President Yoon Suk Yeol on his state visit to the United States hoping to find better business opportunities in the world's largest economy, according to industry officials, Monday.Topping their agenda is the Inflation Reduction Act (IRA), the CHIPS and Science Act and other regulations enacted by the Biden administration as the U.S. has been trying to restructure global supply chains by excluding China, which is Korea's largest trading partner.The leaders need Yoon's help to minimize adverse effects of the U.S. regulations and secu

Apr 24, 2023By Kim Hyun-bin
Chaebol tycoons visit US with IRA, CHIPS Act in mind
  • 7 US firms to invest $4.4 bil. in Korea
Companies

Hyundai Motor Group wins 5 awards at Red Dot, Car Design awards

Geneisis G90 / Courtesy of Hyundai Motor GroupBy Kim Hyun-binThe Hyundai Motor Group car brands ― Hyundai Motor, Kia Corp. and Genesis ― have pulled in five awards at the Red Dot Awards and the Car Design Awards, which are renowned world-class design awards, according to the company, Monday.At the 2023 Red Dot Awards, Hyundai Motor's all-new Grandeur was selected as the main prize winner in the transportation design category, and the E-pit electric vehicle (EV) super-fast charger received the main award in the urban design category.The latest Grandeur model inherited its predecessor's design but adds a modern twist, leading it to be evaluated as faithfully embodying the key characteristics of a flagship sedan. Hyundai Motor Group reported that the E-pit charger received high marks for putting customers first due to its human-centered design.Kia's Niro plug-in hybrid and Genesis' G90 flagship model won the main prize in the design category. The Niro completes a creative and sophisticated design. The G90 won the award in the same category with an exterior that reflects Genesis' design

Apr 24, 2023By Kim Hyun-bin
Hyundai Motor Group wins 5 awards at Red Dot, Car Design awards
Companies

POSCO to establish disaster preparedness communication system with major telecoms companies

Shim Min-suk, left, POSCO's senior vice president, poses with three major telecommunications executives after signing an MOU to strengthen emergency communications networks at the company's Pohang and Gwangyang steel plants at the POSCO Center in Seoul, Thursday. From left Shim, SK Telecom Vice President Yoon Hyeong-sig, KT Senior Vice President Park Jeong-jun and LG U+ Vice President Lim Sung-joon. Courtesy of POSCO GroupBy Kim Hyun-binPOSCO plans to improve mobile phone communication networks for disasters and to quickly restore communication in cases of an emergency at its steel mills, according to the steelmaker, Friday. POSCO signed a memorandum of understanding (MOU) with three telecommunications companies: SK Telecom, KT and LG U+, to improve emergency mobile phone communication networks at its steel mills. The MOU signing ceremony was held at the POSCO Center, Thursday.The move comes as Pohang Works was flooded due to Typhoon Hinnamnor last year, resulting in the submergence of communication equipment, which made it difficult to communicate with emergency contacts via portabl

Apr 21, 2023By Kim Hyun-bin
POSCO to establish disaster preparedness communication system with major telecoms companies
Companies

KITA checks corporate response to EU regulations in Hungary, Poland, Slovakia

Korea International Trade Association Executive Vice President Kim Ko-hyun, left, poses with Polish Investment Agency Director Zdzislaw Sokal, after agreeing to expand business exchanges and cooperation between the two institutions at the Polish Investment Agency in Warsaw, Poland, April 19. Courtesy of KITABy Kim Hyun-binThe Korea International Trade Association (KITA) dispatched economic missions to three Central European countries ― Hungary, Poland and Slovakia ― from April 18 to 21 to check how the new EU regulations will affect Korean companies there as well as to discuss cooperation, according to the business lobby group, Friday.The delegation consisted of a total of 20 people, including those from industry associations and organizations such as the Korea Automobile Manufacturers Association and the Korea Steel Association, as well as two companies entering Central Europe.The Korea-Hungary Business Round Table co-hosted by KITA and the Hungarian Investment Authority in Budapest on April 18 (local time) was attended by around 60 Hungarian government officials and Korean companie

Apr 21, 2023By Kim Hyun-bin
KITA checks corporate response to EU regulations in Hungary, Poland, Slovakia
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