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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 chief calls for diversity to enhance production efficiency

SK Group Chairman Chey Tae-won speaks to newly appointed company 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 Chairman Chey Tae-won called on newly-appointed executives at the conglomerate to diversify their organizational composition to improve production efficiency. “Organizations with diversity have 20 percent to 30 percent higher production efficiency,” Chey said during the “2023 Conversation with New Executives” held at the Grand Walkerhill hotel in Seoul on Feb. 3. "Global companies are respecting and accepting diversity."SK Group has held the event annually where new executives get a chance to meet the chairman. It was held online from 2020 due to the COVID-19 pandemic, but took place offline this year with around 140 new executives of SK Group and affiliates taking part.“The ratio of women among new executives in 2023 is about 7 percent, and all of them are of Korean nationality,” he said. “In terms of divers

Feb 10, 2023By Kim Hyun-bin
SK chief calls for diversity to enhance production efficiency
Companies

Renault Korea's XM3 named hybrid SUV of the year

Renault Korea CEO Stephane Deblaise poses in front of the company's XM3 E-Tech Hybrid at the “Car of the Year“ event held at the Grand Hyatt Hotel in Seoul on Feb. 9. Renault Korea Motors' XM3 E-Tech Hybrid was selected as the Hybrid SUV of the Year by automotive journalists. Courtesy of Renault Korea Motors

Feb 10, 2023By Kim Hyun-bin
Renault Korea's XM3 named hybrid SUV of the year
Companies

Hyundai Motor Group tops JD Power rankings for 2 consecutive years

Kia Sportage SUV / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor Group (HMG) grabbed the top spot in the U.S.' most prestigious quality survey for two consecutive years, in the latest nod to the quality of the automotive conglomerate's vehicles. Genesis ranked second out of 31 brands, including luxury brands, in the 2023 vehicle dependability survey (VDS) announced by J.D. Power, a U.S. market research firm, the automaker said Friday. Kia ranked third and Hyundai Motor ranked 8th.This is the best overall performance among 16 global automakers for the second straight year. The 2023 VDS was conducted on a total of 31 brands, 227 models, and 30,062 vehicles sold in the U.S. from July 2019 to February 2020.Kia Corp. ranked first among general brands for three consecutive years in the mass market segment. Genesis ranked 2nd out of 13 luxury brands, and Hyundai Motor ranked 6th out of 18 general brands.The VDS surveys the durability and quality satisfaction of 184 items targeting customers three years after purchasing a vehicle and then counts the number of complaints. The lo

Feb 10, 2023By Kim Hyun-bin
Hyundai Motor Group tops JD Power rankings for 2 consecutive years
Companies

Hyundai Motor, SK to enter North American hydrogen market

Hyundai Motor's Xcient Fuel Cell hydrogen-electric truck / Courtesy of Hyundai MotorBy Kim Hyun-binMajor domestic companies such as Hyundai Motor and SK E&S took part in the Hydrogen & Fuel Cell Seminar, the largest hydrogen industry event in North America, aiming to better penetrate the U.S. hydrogen market, according to industry officials, Thursday.The Ministry of Trade, Industry and Energy announced it took part in the seminar held in Long Beach, California, from Feb. 7 to 9 as a guest of honor and held a public-private joint investment briefing session.The seminar has been held since 1976. It is a business venue whereby more than 70 companies and institutions from around the world discuss global issues in the hydrogen industry and exhibit the latest technologies.The U.S. is promoting large-scale support through its Inflation Reduction Act (IRA) and the bipartisan Infrastructure law (BIL) with the goal of producing 1 kg of clean hydrogen for $1 within the next 10 years.At this event, Korea's industry ministry announced plans to build the world's largest liquefied hydrogen

Feb 9, 2023By Kim Hyun-bin
Hyundai Motor, SK to enter North American hydrogen market
Companies

Korea looks to sell weapons to Romania following lucrative deal with Poland

LIG Nex1 head of overseas business division Lee Hyeon-soo, front left, and Florentina Micu, president of ROMARM, front right, sign an MOU to enhance anti-aircraft cooperation at Romania's economy and industry ministry in Bucharest, Thursday. Courtesy of LIG Nex1By KIm Hyun-binKorean arms manufacturers are seeking to expand weapons exports to East European countries following a mega defense deal signed with Poland last year, according to the Korea Chamber of Commerce and Industry (KCCI), Thursday.In July of last year, Poland signed a basic contract to import about 20 trillion won ($15.8 billion) worth of Korean weapons, including 1,000 K-2 tanks and 640 K-9 self-propelled howitzers.KCCI said that its Eastern European economic delegation achieved results by laying a new foundation to facilitate weapons shipments to Romania.“Korea's defense industry is the result of joint efforts by the government and companies that have worked hard for self-defense amid difficult security conditions,” Woo Tae-hee, vice chairman of KCCI, said. “KCCI plans to provide support for compani

Feb 9, 2023By Kim Hyun-bin
Korea looks to sell weapons to Romania following lucrative deal with Poland
Companies

Retail giants eager to expand wine businesses

By Kim Hyun-binMajor retailers are eager to grow their wine businesses by purchasing overseas wineries, gaining price competitiveness and expanding overseas distribution networks, according to industry officials, Wednesday. According to Euromonitor, the size of the domestic wine market is estimated to have grown by 50 percent compared to 2020 to 1.5 trillion won ($1.19 billion) in 2021, and to 2 trillion won last year.Following Shinsegae Group's acquisition of a U.S. winery, Lotte is seeking to expand its winery business.Lotte Chilsung Beverage announced with its fourth-quarter IR data that the company is considering acquiring domestic and foreign wineries this year. Lotte has the longest history of wine among local retail companies owning Majuang, a Korean wine brand with a 45-year history.Lotte Group Chairman Shin Dong-bin“We are reviewing good properties at home and abroad, but it is impossible to know when they will be confirmed,” a Lotte Group official said.In 2016, Lotte Chairman Shin Dong-bin launched Majuang Signature Korea Premium made from 100 percent domestic g

Feb 9, 2023By Kim Hyun-bin
Retail giants eager to expand wine businesses
Companies

Hyundai Motor IONIQ 5 aims to take over India's EV market

Hyundai Motor IONIQ 5 / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor Company's IONIQ 5 electric SUV is creating a sensation in India finding success in lowering production costs through local assembly, according to industry officials, Wednesday.Hyundai Motor India is scheduled to officially launch the IONIQ 5 next month and has received more than 650 reservations ― more than double the 250 to 300 predicted initially.As the IONIQ 5 sold more than expected in the early stages, the possibility of preoccupying the Indian EV market, which is still in its infancy, is increasing. According to the Indian Energy Storage Association (IESA), the Indian EV market is expected to grow rapidly at an average annual rate of 49 percent from 2021 to 2030.“It seems that the IONIQ 5's outstanding marketability and recent favorable reviews in major countries have gained attention,” a Hyundai Motor Group official said. “EVs are a hot global trend, and interest in EVs in the Indian market is also growing.”The company introduced the IONIQ 5 locally through the Auto Expo

Feb 8, 2023By Kim Hyun-bin
Hyundai Motor IONIQ 5 aims to take over India's EV market
Companies

Samsung chief tours QD-OLED production line

Samsung Electronics Chairman Lee Jae-yong, front row second from left, and other staff tour the QD-OLED production line at Samsung Display Asan Campus in South Chungcheong Province, Tuesday. QD-OLED is a hybrid display technology that improves the brightness and color of OLED panels through the use of quantum dots. Courtesy of Samsung Electronics

Feb 7, 2023By Kim Hyun-bin
Samsung chief tours QD-OLED production line
Companies

Kakao acquires 9.05% stake in SM Entertainment to become 2nd-largest shareholder

Kakao Pangyo office in Seongnam, Gyeonggi Province / Courtesy of KakaoBy Kim Hyun-binKakao secured a 9.05 percent stake in SM Entertainment, becoming its second-largest shareholder, the company said Tuesday. Kakao is joining hands with SM Entertainment to strengthen its competitiveness in the music and content business.SM Entertainment issued 1.23 million new shares in the form of a paid-in capital increase, while Kakao secured 1.14 million shares of SM through the acquisition of convertible bonds. The total acquisition was worth over 217 billion won ($172.7 million).In addition, Kakao signed a three-way business agreement with Kakao Entertainment and SM Entertainment. The three companies plan to take the lead in raising the global status of Korean pop culture.“Through this investment and cooperation, we expect that the two companies will be of great help to each other in responding together to the fierce competition in the global music and content market and targeting the global mainstream of K-content. Through multifaceted cooperation, we will contribute to the expansion of K

Feb 7, 2023By Kim Hyun-bin
Kakao acquires 9.05% stake in SM Entertainment to become 2nd-largest shareholder
Companies

HanmiGlobal seeks to win more large-scale orders in Saudi Arabia

An aerial view of Diriyah South and Gardens in Diriyah, Saudi Arabia / Courtesy of HanmiGlobalBy Kim Hyun-binHanmiGlobal, Korea's leading project management (PM) company, is seeking to win large-scale orders from the Middle East and especially from the Diriyah Gate Project in Saudi Arabia, the company said Tuesday.Earlier this month, the Saudi public investment fund (PIF), led by Crown Prince bin Salman, designated Diriyah Gate, a new city development project at the historic UNESCO World Heritage site of Diriyah on the outskirts of Riyadh, as the fifth mega project alongside NEOM, the world's largest new city construction project.This project is being carried out as part of the kingdom's “Vision 2030”, a mid- to long-term development plan of the Saudi Arabian government, which includes NEOM, the Red Sea Global tourism development on the west coast, Qiddiya, an entertainment and lifestyle destination located 40km from the Saudi capital and ROSHN, the kingdom's largest residential property developer.The Diriyah development will feature luxury hotels and restaurants built in

Feb 7, 2023By Kim Hyun-bin
HanmiGlobal seeks to win more large-scale orders in Saudi Arabia
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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.