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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

Hyundai, KCCI, Hyosung enhance firefighters' welfare and safety

From left, Hyosung Group Chairman Cho Hyun-joon, Hyundai Motor Group Executive Chair Chung Euisun, National Fire Agency Director Nam Hwa-young, Korea Chamber of Commerce and Industry Chairman Chey Tae-won and Ulsan Chamber of Commerce and Industry Chairman Lee Yeon-chul pose together after agreeing to enhance firefighters' welfare and safety at the Ulsan Fire Department in South Gyeongsang Province, Tuesday. Courtesy of KCCIBy Kim Hyun-binHyundai Motor Group, the Korea Chamber of Commerce and Industry (KCCI), and Hyosung Group, have unveiled support measures to enhance the welfare and safety of firefighters who are on the frontline of securing public safety, according to the companies, Tuesday.The first Sharing Project event was held at Ulsan Fire Department in South Gyeongsang Province, hosted by the KCCI with National Fire Agency officials as well as Hyundai Motor Group Chairman Chung Euisun, KCCI Chairman Chey Tae-won, Hyosung Group Chairman Cho Hyun-joon, and local government officials in attendance.Hyundai Motor Group donated buses to the National Fire Agency to provide a place

Mar 14, 2023By Kim Hyun-bin
Hyundai, KCCI, Hyosung enhance firefighters' welfare and safety
Companies

Volvo to invest $84 million in Korea, introduce electric SUV this year

Volvo EX90 / Courtesy of Volvo Cars KoreaBy Kim Hyun-binVolvo Cars plans to enhance cooperation with Korean battery and tech companies as technology is becoming imperative to maintaining competitiveness in the global market, the Swedish carmaker's CEO Jim Rowan said during a press conference held at the Shilla Hotel in Seoul, Tuesday.“We have been cooperating with Korean tech and battery partners for many years and we expect that to continue. We see that technology will be very important for the future,” Rowan said. “We will build our own battery factory in Sweden but we will maintain relationships with the current battery manufacturer because we plan to expand our business and we will need supply from both.”Volvo is pushing for a complete EV transition by 2030. As part of that plan, the carmaker plans to release a new EV each year. It has already released two electric models ― the C40 and EX90 ― which are both equipped with LG Energy Solution (LGES) batteries.Volvo Cars CEO Jim Rowan answers questions from reporters during a press conference held at the Shill

Mar 14, 2023By Kim Hyun-bin
Volvo to invest $84 million in Korea, introduce electric SUV this year
Companies

Chaebol tycoons to meet Japanese counterparts during Yoon's Japan visit

Samsung Electronics Chairman Lee Jae-yong, right, and other conglomerate chiefs talk to each other before the government's New Year's ceremony held at the Korea Chamber of Commerce and Industry in Seoul on Jan. 2, 2020. From right are, Lee, Hyundai Motor Group Executive Chair Chung Euisun, LG Group Chairman Koo Kwang-mo, and SK Group Chairman Chey Tae-won.By Kim Hyun-bin The Federation of Korean Industries (FKI) is coordinating plans to open a business roundtable in Japan on March 17 with Keidanren, a major Japanese business lobby group. Major conglomerate chiefs are also scheduled to attend the meeting, according to industry officials, Monday.The meeting will be held on the sidelines of President Yoon Suk Yeol's state visit to Japan from March 16 to 17.Japanese public broadcaster NHK reported that the FKI and Keidanren are coordinating plans to hold a meeting on the sidelines of the Korea-Japan summit. The top four major conglomerate chiefs ― Samsung Electronics' Lee Jae-yong, SK Group's Chey Tae-won, Hyundai Motor Group Executive Chair Chung Euisun and LG Group Chairman Koo Kwang-m

Mar 13, 2023By Kim Hyun-bin
Chaebol tycoons to meet Japanese counterparts during Yoon's Japan visit
Companies

Louisiana governor visits Kumho Tire HQ to enhance cooperation

Kumho Tire CEO Jung Il-taik, right, shakes hands with U.S. Louisiana Governor John Bel Edwards during his visit to Kumho Tire headquarters to enhance cooperation, Friday. Courtesy of Kumho TireBy Kim Hyun-binThe governor of the U.S. state of Louisiana visited the headquarters of Kumho Tire to enhance cooperation, according to the company, Friday.A trade delegation to Asia led by Governor John Bel Edwards paid a visit to the company headquarters in Seoul and met with senior management. Kumho Tire CEO Jung Il-taik, Head of Sales Division Lim Seung-bin and Head of Supply Chain Management 2 Lee Eun-sun attended the meeting where they welcomed the Louisiana delegation, which also included Louisiana Economic Development Secretary Don Pierson, and staff members of Louisiana Economic Development.The visit was arranged to thank Kumho's decision announced in January to invest in the southern U.S. state, and ask for greater partnership going forward.Kumho Tire plans to open a distribution center in New Orleans, Louisiana, to facilitate its entry into the U.S. market.Before the opening of the di

Mar 13, 2023By Kim Hyun-bin
Louisiana governor visits Kumho Tire HQ to enhance cooperation
Companies

Hyundai launches new Avante

Hyundai Motor releases its latest design for the Avante in Korea, Monday. The model is the first upgraded Avante model in three years. Courtesy of Hyundai Motor Group

Mar 13, 2023By Kim Hyun-bin
Hyundai launches new Avante
Companies

SK Inc. materials increases US investment to expand CCUS biz

SK Group's building in Seoul / Korea Times fileBy Kim Hyun-binSK Inc. materials is accelerating its clean energy business, expanding investment into 8 Rivers, which owns innovative Carbon Capture, Storage and Utilization (CCUS) technology, according to the company. According to SK Inc. materials, the SK Inc. board approved the decision on March 6 to form a fund worth $300 million to invest in U.S. clean tech.Through this investment, SK Inc. materials plans to actively develop the CCUS-based clean energy business in the U.S. and further strengthen the strategic partnership with 8 Rivers. 8 Rivers was established in 2008 in North Carolina. The company owns patented technology for producing clean electricity and blue hydrogen, which captures more than 99 percent of carbon dioxide in an innovative and low-cost way.CCUS is recognized as a key technology that advances carbon neutrality by removing carbon dioxide emitted by the industry.Following the passage of the U.S. Inflation Reduction Act (IRA) last August, CCUS technology is being highly appreciated as the market interest in the CCUS

Mar 10, 2023By Kim Hyun-bin
SK Inc. materials increases US investment to expand CCUS biz
Companies

Korea to mobilize all resources to win Busan Expo bid

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, second from right, co-chair of the Bid Committee for World Expo 2030 Busan, speaks during the committee meeting at the Four Seasons Hotel in Seoul, Friday. Foreign Minister Park Jin, right, and Prime Minister Han Duck-soo, third from right, also the co-chair, attended the meeting. Courtesy of KCCIBy Kim Hyun-binKorea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, who is also the co-chair of the Bid Committee for World Expo 2030 Busan, stressed that Korea is receiving more positive evaluations as a potential host of World Expo 2030, saying that both the government and companies need to come together to host the event in Busan.“We may have been in a disadvantageous position in the beginning, but now we have come on par,” Chey said during the committee's third meeting at the Four Seasons Hotel in Seoul, Friday. “The first half of this year, with a lot of big events, is the time when the outcome of the game will be decided.”The chairman emphasized three key factors Korea needs to

Mar 10, 2023By Kim Hyun-bin
Korea to mobilize all resources to win Busan Expo bid
Companies

Hyundai Motor unveils plan to develop Ulsan plant into future car hub during Yoon's visit

President Yoon Suk Yeol, second from left, and Hyundai Motor Group Chairman Chung Euisun, left, are being briefed on the company's export status at the Hyundai Motor Ulsan export pier, Thursday. YonhapBy Kim Hyun-binPresident Yoon Suk Yeol visited Hyundai Motor's Ulsan plant and was briefed on the current status of the company, according to the automobile maker, Thursday.The president attended the ceremony for the groundbreaking petrochemical complex in Ulsan and then visited Hyundai Motor's Ulsan plant to tour the automobile export shipping pier and the Genesis production line.President Yoon emphasized that since Ulsan was designated as a specific industrial zone in 1962, it has led the nation's key industries centered on automobiles, shipbuilding and petrochemicals for over 60 years and plays a pivotal role in the national economy accounting for 13 percent of Korea's exports.Last year, despite unfavorable circumstances, production in Korea increased by 6.9 percent to 1,732,317 vehicles. Exports increased by 9.9 percent to 1,009,025 vehicles.This year, the company plans to produce a

Mar 9, 2023By Kim Hyun-bin
Hyundai Motor unveils plan to develop Ulsan plant into future car hub during Yoon's visit
Companies

SK networks invests $22 mil. in US AI device company Humane

Officials from SK networks and Humane pose during an investment signing ceremony in Las Vegas, U.S. Jan. 6. They are, from left, Samuel Kim, managing director of SK networks' Hico Capital, Sunghwan Choi, president & COO of SK networks, and Bethany Bongiorno and Imran Chaudhri, co-founders of Humane. Courtesy of SK networksBy Kim Hyun-binSK networks has invested $22 million in the U.S. artificial intelligence (AI) device company, Humane. SK networks initiated both direct and indirect investments totaling $22 million in the Series C round, via Hico Capital, a U.S. investment firm, securing a 2.6 percent stake according to SK networks, Thursday.New investors such as Microsoft, Volvo, LG Technology Ventures, and SK networks, along with existing investors such as Sam Altman, the founder of OpenAI and Tiger Global took part.Humane is a company that develops next-generation conceptual devices after the mobile phone era using AI. Its co-founders, Imran Chaudhri and Bethany Bongiorno, are former Apple employees famous for their participation in the release of IT devices and software, such

Mar 9, 2023By Kim Hyun-bin
SK networks invests $22 mil. in US AI device company Humane
Companies

Kumho Petrochemical chief referred to prosecution for omitting 4 affiliates from antitrust list

Company says omission was mistake by employee By Kim Hyun-binThe country's antitrust watchdog decided to refer Park Chan-koo, chairman of Kumho Petrochemical, to the prosecution for omitting four companies from a list of the firm's affiliates and subsidiaries owned by him and his family members, according to the Fair Trade Commission (FTC), Wednesday.The FTC receives the lists from conglomerates every year to check the current status of their affiliates, relatives and executives, shareholders of affiliates and audit reports. According to the FTC, Park, who is the head of Kumho Petrochemical, submitted an antitrust list to the FTC that omitted four companies in which his brother-in-law's family owned 100 percent of the shares between 2018 and 2021. Kumho Petrochemical Chairman Park Chan-koo"The purpose and foundation have been undermined by the false submission of relevant materials, and the seriousness of the act is deemed significant,” the FTC said. "Without valid reasons, the antitrust list was falsely submitted by omitting four affiliated companies."The four companies left o

Mar 8, 2023By Kim Hyun-bin
Kumho Petrochemical chief referred to prosecution for omitting 4 affiliates from antitrust list
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