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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

SK Networks aims to enhance corporate value via global investment, shareholder value

Choi Sung-hwan, SK Networks general executive director, speaks to global investors at the Global Annual General Meeting held at the Walkerhill Hotel Seoul, Wednesday. Courtesy of SK Networks By Kim Hyun-binSK Networks is accelerating its transformation into a business-oriented investment company with the eldest son of former chairman Choi Shin-won, Choi Sung-hwan, leading efforts as general executive director. Choi personally gathered global investors, held an investment business briefing session and declared the expansion of global innovation and investments, according to the company, Wednesday."Based on our successful investment experience in Silicon Valley, we will serve as a gatekeeper for global innovation. We will use our influence to address social and economic inequalities of various kinds that exist around the world," Choi said during the Global Annual General Meeting held at the Walkerhill Hotel Seoul, Wednesday.SK Networks is investing in technology-based

Feb 22, 2023By Kim Hyun-bin
SK Networks aims to enhance corporate value via global investment, shareholder value
Companies

POSCO International continues grain shipments from Ukraine, despite war

POSCO International's Mykolaiv Grain Terminal in Ukraine / Courtesy of POSCO InternationalBy Kim Hyun-binPOSCO International's grain terminal continues to successfully operate despite the ongoing war in Ukraine. The food sector is one of the seven strategic businesses of POSCO Group along with secondary battery materials, energy and lithium, according to the company, Tuesday. POSCO International announced that it will complete the shipment of a total of 16,000 tons of inventory remaining at the grain terminal by next month.The volume of goods handled by Ukraine Terminal Corp. last year was 310,000 tons, down by more than half from 760,000 tons in 2021. Terminal operations were suspended temporarily due to port blockades immediately after the start of the war, but have continued exporting corn, rye and barley to Europe and Africa over land since last May. Fighting continues in southeastern Ukraine, including in the port city of Kherson near the terminal, but the grain terminal located in Mykolaiv has not been affected so far. Foreign employees are working remotely in Poland, and the t

Feb 21, 2023By Kim Hyun-bin
POSCO International continues grain shipments from Ukraine, despite war
Companies

Toyota launches RAV4 PHEV in Korea

Toyoto Korea CEO Konyama Manabu introduces the newly released RAV4 PHEV during a launch ceremony held in Seoul, Tuesday. Courtesy of Toyota KoreaBy Kim Hyun-binToyota Korea unveiled the RAV4 Plug-in Hybrid (PHEV) in the Korean market during a launch ceremony held in Seoul, Tuesday. The 306 horsepower vehicle is capable of driving 63 kilometers solely on electricity, comes equipped with four-wheel drive and features enhanced performance, according to the company. Since its debut in 1994, the RAV4 has evolved into the current fifth-generation model that has well penetrated the SUV market. The RAV4, which was unveiled in the Korean market in 2009 when the Toyota brand entered Korea, is one of the company's best-selling models here, accounting for around 40 percent of Toyota Korea's total sales last year.“Starting with the LABU4 PHEV, we plan to introduce various electric models that suit the lifestyle of customers. The vehicle (RAV4) is a model suitable for customers who enjoy outdoor activities,” Kang Dae-hwan, managing director of Toyota Korea, said.The RAV4 PHEV was devel

Feb 21, 2023By Kim Hyun-bin
Toyota launches RAV4 PHEV in Korea
Companies

KITA chief to visit Caribbean countries to help promote Busan's Expo bid

Korea International Trade Association Chairman Koo Ja-yeol speaks at the 59th Trade Day ceremony held at COEX in Seoul, Dec. 5, 2022. Korea Times photo by Seo Jae-hoonBy Kim Hyun-binKoo Ja-yeol, head of the Korea International Trade Association (KITA), will visit five Caribbean countries as a presidential envoy to promote Busan's bid to host the World Expo 2030.According to KITA, Koo will visit five Caribbean countries, including Saint Vincent and the Grenadines, Saint Lucia, and Antigua and Barbuda, for 16 days from Feb. 25 to March 12.Koo will accompany a delegation of about 20 people including KITA executives and hold meetings with the prime ministers and foreign ministers of the five countries during his visit, to deliver a personal letter from President Yoon Suk-yeol and ask for support for Busan's Expo bid.Along with this, the government also discussed ways to expand economic exchanges with these countries in climate change, environment and marine, forest preservation and agricultural technology cooperation, tourism cooperation, digital transformation and green economy transiti

Feb 20, 2023By Kim Hyun-bin
KITA chief to visit Caribbean countries to help promote Busan's Expo bid
Companies

EU prolongs review of Korean Air-Asiana merger, requires more concessions

Hanjin Group Chairman Cho Won-tae / Courtesy of Korean AirBy Kim Hyun-binAn unprecedented move by the European Union (EU) to conduct a second-stage review of Korean Air's takeover of Asiana Airlines will lead to a further delay in the ongoing process, according to industry officials, Monday. The European Commission said the deal could affect passenger and air cargo transport services between the European Economic Area (EEA) and Korea, because the two airlines are strong and close competitors, adding that it needs more time to assess the effects of the takeover.“The transaction could?reduce competition?in the provision of?passenger transport?services on?four routes?between South Korea and the EEA. On those routes, Korean Air and Asiana compete head-to-head, and in two of those routes, they are the only two companies offering direct services. Other airlines may be unlikely to exert sufficient competitive pressure on the merged entity,” the commission said in a statement.As of 2019, Korean Air and Asiana Airlines' market share is 100 percent in Barcelona, 75 percent in Rome,

Feb 20, 2023By Kim Hyun-bin
EU prolongs review of Korean Air-Asiana merger, requires more concessions
Companies

Busan in tight race with Saudi Arabia to host World Expo 2030

Busan Mayor Park Heong-joon, fifth from left, speaks to reporters about the city's preparations to host the World Expo 2030 during a press conference held at the Busan Port International Exhibition & Convention Center, Feb. 17. Courtesy of KCCIBy Kim Hyun-binSouth Korea is making significant progress in the race to host the World Expo 2030 in Busan as it competes against main rival Saudi Arabia, Busan Mayor Park Heong-joon said at a press conference hosted by the Korea Chamber of Commerce and Industry (KCCI). He emphasized that hosting the Expo will generate 61 trillion won ($46.9 billion) in economic effects. "We started out in very unfavorable conditions in the beginning in the bid to host the Expo in Busan, but now we have gained momentum and many countries are showing positive reactions about the Expo being hosted in Busan," Park said at the press conference held at the Busan Port International Exhibition & Convention Center on Feb 17. The venue for the World Expo 2030 will be decided by a vote of 171 member countries at the General Assembly of the Bureau International de

Feb 19, 2023By Kim Hyun-bin
Busan in tight race with Saudi Arabia to host World Expo 2030
Companies

Hyundai Mobis to invest $7.88 billion for future growth by 2025

Hyundai Mobis CEO Cho Sung-hwan is announcing the vision of 'New Mobis' at CES 2023. Courtesy of Hyundai MobisBy Kim Hyun-binHyundai Mobis plans to invest up to 10 trillion won ($7.88 trillion) for future growth by 2025 and enhance shareholder value by buying 150 billion won worth of treasury stocks, according to the company, Tuesday.Hyundai Mobis announced the 2023 Shareholder Value Enhancement Policy, which includes future growth investment plans and shareholder return policies.Through 2025, the company plans to increase internal investments by about 2 trillion won from the previous plan, accounting for a total of 5 trillion won to 6 trillion won. The company plans to make 3 trillion won to 4 trillion won in external investment in autonomous driving, advanced driver assistance systems (ADAS) and software.Mobis plans to secure 5 trillion won in safe cash to respond to economic downturns and crises. As available cash has decreased compared to the previous year due to continuous R&D and investments in overseas production bases, the plan is to secure additional financial resources

Feb 14, 2023By Kim Hyun-bin
Hyundai Mobis to invest $7.88 billion for future growth by 2025
Companies

Most SM employees unhappy about HYBE's takeover

SM Entertainment headquarters in Seoul / Korea Times fileBy Kim Hyun-binThe majority of SM Entertainment employees oppose HYBE's attempt to acquire a majority stake in the company, according to industry officials, Tuesday. HYBE, the entertainment agency of K-pop group BTS, has purchased a 14.8 percent stake from former SM Entertainment general producer Lee Soo-man for 422.8 billion won ($333.6 million) and initiated the takeover of SM.According to the “SM lounge” section of Blind, an anonymous community of company workers, SM employees were asked what they thought about HYBE's acquisition of SM. The vote, which began on Feb. 11, asked for their preference between two options: SM's current management with Kakao, or HYBE and Lee Soo-man.Votes were made by 222 people. Of them, 190 voted (85.6 percent) for the current management and Kakao, and 33 (14.9 percent) for HYBE and Lee, showing SM employees' opposition to HYBE's takeover of SM.HYBE CEO Bang Si-hyuk, left and SM General Producer Lee Soo-man / Courtesy of SM Entertainment and HYBESM employees said that they are not ple

Feb 14, 2023By Kim Hyun-bin
Most SM employees unhappy about HYBE's takeover
  • Battle for SM management heats up between Lee-HYBE and SM-Kakao blocs
Companies

Why Lotte's design chief suddenly quit

KAIST professor Bae Sang-min, left, and Lotte Group Chairman Shin Dong-bin pose for a picture. Captured photo from Bae Sang-min's social mediaBy Kim Hyun-binThe sudden resignation of Lotte Holdings Design Management Center CEO Bae Sang-min, a professor at the Korea Advanced Institute of Science and Technology (KAIST), is drawing attention, according to industry officials, Monday.Bae resigned as head of the Design Management Center at the end of last month, just a little over a year and five months after being recruited by Lotte in September 2021. His successor has not yet been decided.Bae was the first case of an outsider being recruited among the group's CEOs, which drew attention as Lotte Group Chairman Shin Dong-bin's was behind the recruitment process.Bae often revealed his friendship with Shin, posting several photos of the two of them on social media.With a design concept centered on sharing, Bae has won more than 40 awards in the world's four major design competitions, including Red Dot (Germany), iF (Germany), IDEA (U.S.) and Good Design (Japan).Since his recruitment, Lotte h

Feb 13, 2023By Kim Hyun-bin
Why Lotte's design chief suddenly quit
Companies

SK becomes 1st conglomerate with over 200 subsidiaries

SK Group Chairman Chey Tae-won speaks to newly appointed executives during the 2023 Conversation with New Executives held at the Grand Walkerhill hotel in Seoul on Feb. 3. Courtesy of SK GroupBy Kim Hyun-binSK Group has more than 200 subsidiaries, the largest number among 76 top conglomerates with assets of over 5 trillion won, according to the Fair Trade Commission (FTC) Monday.The number of SK subsidiaries stood at 201 as of Feb. 1, an increase of six from last Nov. 1. This is the first time that the number of subsidiaries of a specific conglomerate has exceeded 200 since the introduction of the conglomerate designation system in 1987.Under the Fair Trade Act, companies belonging to the same business group are regarded as affiliates. The fact that there are 201 SK affiliates means that there are 201 companies that are deemed to have the same person in charge, in this case SK Group Chairman Chey Tae-won.SK's subsidiaries include SK hynix, SK Energy, SK Telecom, SK Eco Plant, SK Gas, and SK Siltron. SK affiliates increased from 75 in 2010 to 82 in 2015 and 125 in 2020. Over the past

Feb 13, 2023By Kim Hyun-bin
SK becomes 1st conglomerate with over 200 subsidiaries
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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.