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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

FTC to inspect live commerce operators' business practices

Naver headquarters in Pangyo, Gyeonggi Province / Korea Times fileBy Kim Hyun-binThe country's antitrust agency will inspect the business practices of Naver, Kakao and other live commerce operators to check whether they treat their suppliers and consumers unfairly, the Fair Trade Commission (FTC) said Monday.The agency plans to scrutinize the terms and conditions in the rapidly growing distribution sector, which includes live commerce and subscription services, officials said.Live commerce is attracting attention as a new distribution channel with low entry barriers that enables buyers and sellers to communicate in real time through video or text chat. But consumer complaints are also on the rise as the number of users increases and the FTC aims to look out for any unfair practices. Naver, Kakao, Coupang, Baedal Minjok and Grip, which are representative platform operators in the live commerce field, are expected to be included in the inspection. The FTC plans to focus on whether brokerage operators unfairly pass their burden on to consumers, or excessively limit the copyright of sell

Feb 6, 2023By Kim Hyun-bin
FTC to inspect live commerce operators' business practices
Companies

Why Galaxy Book3 draws more attention than S23 smartphones

Visitors experience the high-performance laptop Galaxy Book3 at Samsung's new product launch event Galaxy Unpacked 2023 held in San Francisco, last week. Courtesy of Samsung ElectronicsBy Kim Hyun-binSamsung Electronics' Galaxy Book3 Pro 900 preorders sold out as soon as they hit the market on 11street, an official online partner of Samsung Electronics, backed by large discounts, according to industry officials, Monday. “Performance has been upgraded along with the display as well as the current CPU, which is equipped with the latest Intel 13th-generation CPU, while user convenience was also greatly improved,” a Samsung Electronics official said. “There was also a double storage promotion this time, and the reasonable price seems to have attracted customers.”Taking advantage of diverse promotions including card company discounts, the Galaxy Book3 Pro, which is priced at 1.88 million won ($1,506) could be purchased for a price much closer to 1 million won.Industry officials believe Samsung Electronics introduced the Galaxy Book3 Pro at a discounted price becaus

Feb 6, 2023By Kim Hyun-bin
Why Galaxy Book3 draws more attention than S23 smartphones
Companies

Hyundai Motor's technology helps team become WTCR double champion

Mikel Azcona, center, who won the driver category in WTCR 2022 season, answers questions from the press at the Hyundai Motor headquarters in Seoul on Feb. 1. Courtesy of Hyundai Motor GroupBy Kim Hyun-binGabriele Tarquini, a legendary driver and the 2018 World Touring Car Cup (WTCR) champion, has praised Hyundai Motor's N model claiming it helped the team to win the championship double at the WTCR 2022."You have to have a good base to make a winning car,” Tarquini said. “If you look at the i30 N or the Elantra N, they are very fast and have great technology. To win a title, you need a good car, good drivers, and a combination of factors.”He visited the Hyundai Motor Group headquarters in Seoul, Wednesday, along with other winners, to attend an event organized by Hyundai Motor to celebrate the achievement of the 2022 WTCR championship double.Tarquini was a race car driver up until his 60s and has been with Hyundai Motor since 2017. He won the 2018 WTCR title. After retiring as a driver in 2021, he now serves as team manager. The secret to winning the competition, he

Feb 5, 2023By Kim Hyun-bin
Hyundai Motor's technology helps team become WTCR double champion
Companies

LG publishes Korea's first group-level net zero report

By Kim Hyun-binLG Group announced a plan to pursue carbon neutrality at the group level, the first time for a major conglomerate in Korea, revealing its commitment to reduce greenhouse gas emissions and develop eco-friendly technologies to reduce net carbon emissions to zero by 2050, Sunday.LG Group published an “LG Net Zero Special Report” containing specific carbon reduction goals, making LG the first company to specifically disclose a group-level plan to promote carbon neutrality in the form of a report.LG Group Chairman Koo Kwang-mo“We have established a carbon-neutral roadmap at the group to allow people to see the current status and goals of carbon neutrality of LG affiliates in various types of businesses such as electronics, chemistry, and communication services at a glance,” an LG official said.According to the report, LG will invest about 3.4 trillion won ($2.71 billion) by 2030 in developing new technologies for reducing carbon, such as blue hydrogen and green hydrogen technologies, which are attracting attention as eco-friendly energy sources. LG E

Feb 5, 2023By Kim Hyun-bin
LG publishes Korea's first group-level net zero report
Companies

Samsung Biologics' sales surpass W3 tril. for first time

By Kim Hyun-binSamsung Biologics saw sales surpass 3 trillion won last year, becoming the first in the domestic biopharmaceutical industry to achieve that mark. Its operating profit also neared 1 trillion won, the company said in a filing, Friday.The company announced that it achieved annual consolidated sales of 3.001 trillion won ($2.54 billion) and an operating profit of 983.6 billion won in 2022. Compared to 2021, sales increased by 1.43 trillion won, or 91 percent, and operating profit increased 446.3 billion won, or 83 percent. The sharp rise in profitability comes from increased orders, a rising plant utilization rate, and external expansion following the full incorporation of Samsung Bioepis as a subsidiary. Samsung Bioepis achieved sales of 946.3 billion won and an operating profit of 231.5 billion won. Compared to 2021, sales increased by 99.3 billion won, or 12 percent, and operating profit rose by 38.8 billion won, or 20 percent, on the expansion of biosimilar products sales in the global market.

Jan 27, 2023By Kim Hyun-bin
Samsung Biologics' sales surpass W3 tril. for first time
Companies

KT&G aims to become global top-tier company

By Kim Hyun-binKT&G unveiled the group's goals to become a global top-tier company at the KT&G future vision proclamation ceremony held at KT&G Sangsang Planet in Seoul, Thursday. CEO Baek Bok-in unveiled the “2027 KT&G Vision,” focusing on three core businesses: next-generation products (NGP), dry foods (health functional food) and the global conventional cigarette (CC). KT&G plans to nurture NGP and dry foods as the company's core growth businesses through its new business portfolio strategy.CEO Baek Bok-in speaks about the company's vision during a ceremony held at KT&G Sangsang Planet in Seoul, Thursday. Courtesy of KT&GKT&G revealed its aspirations for long-term, large-scale investment and global market expansion, emphasizing its will to become a global top-tier company. The company aims to achieve sales of 10 trillion won by 2027 based on investments of about 4 trillion won in core business areas over the next five years, and to pull up the ratio of global business in total sales to 50 percent.“KT&G has pushed for the accele

Jan 27, 2023By Kim Hyun-bin
KT&G aims to become global top-tier company
Companies

Samsung SDS posts record-high annual sales

By Kim Hyun-binSamsung SDS recorded preliminary sales of 17.23 trillion won ($13.98 billion) and an operating profit of 916.1 billion won last year, up by 26 percent and 13.4 percent, respectively, compared to the previous year, according to the company filings, Thursday. The annual sales of the IT service business increased by 5.9 percent from the previous year, reaching a record 5.96 trillion won due to the expansion of cloud computing in the manufacturing, finance, and public sectors and the implementation of next-generation enterprise resource planning (ERP) conversion consulting./Samsung SDS headquarters in Seoul / Courtesy of Samsung SDSSales in the cloud business division accounted for 1.16 trillion won, an increase of 33.4 percent compared to the previous year, backed by strong growth of the cloud service provider (CSP) based on Samsung Cloud Platform (SCP) and the Managed Service Provider (MSP) which are centered on application modernization.Logistics business sales increased by 41 percent compared to the previous year, recording 11.26 trillion won due to increased air cargo

Jan 26, 2023By Kim Hyun-bin
Samsung SDS posts record-high annual sales
Companies

Kolmar Korea to build AI-run plant for global expansion goals

Kolmar Korea's main production base in Sejong / Courtesy of Kolmar Korea By Kim Hyun-binKolmar Korea is expanding its presence in both local and overseas markets by establishing a new artificial intelligence (AI) production base in Korea to better penetrate the global market, according to the company, Wednesday. The company is establishing a new cosmetics production base with AI technology in Sejong so as to actively respond to the recent easing of face mask rules, which is expected to boost cosmetics sales.Kolmar announced that it would secure a site of around 58,895 square meters, the size of eight soccer fields, and build a cosmetics factory capable of producing 220 million products a year. An eco-friendly logistics center will also be built onsite. Construction is expected to begin in the first quarter of this year and be completed by 2024.When the factory is completed, Kolmar Korea's existing domestic basic and color cosmetics production capacity will increase

Jan 25, 2023By Kim Hyun-bin
Kolmar Korea to build AI-run plant for global expansion goals
Companies

Samsung chief gives gifts to new moms, employees from multicultural families

Samsung Electronics Chairman Lee Jae-yong visits Samsung SDS in, Seoul on Aug. 30, 2022 and takes a photo with female employees. Courtesy of Samsung ElectronicsBy Kim Hyun-binSamsung Electronics Chairman Lee Jae-yong gave gifts to female employees that recently gave birth as well as to multicultural employees for the Lunar New Year holiday. Chairman Lee gave Samsung air purifiers to 64 female employees who gave birth to children between Jan. 1 through Jan. 7. “We have prepared a small gift to celebrate the birth of a precious life that has come to our family. I hope that your lovely children will grow up healthy and wise, and I hope that your family will always be filled with happiness,” Lee said.In addition to the new mothers, Chairman Lee presented Everland annual passes and gift cards to a total of 180 employees' families who come from multicultural backgrounds. Human resources executives from each company personally visited the families and delivered the gifts.Chairman Lee has taken good care of the employees by sending holiday gifts to executives and employees and en

Jan 25, 2023By Kim Hyun-bin
Samsung chief gives gifts to new moms, employees from multicultural families
Companies

Shipbuilding industry turns to robots to overcome shortage of workers

A Daewoo Shipbuilding & Marine Engineering worker welds a ship using a robot on Jan. 9. Courtesy of DSMEBy Kim Hyun-binThe domestic shipbuilding industry is introducing robots to cope with a shortage of workers and prevent safety accidents, according to industry officials, Tuesday.Daewoo Shipbuilding & Marine Engineering (DSME) developed a carbon steel pipe welding robot that it says can improve the working environment and productivity, and has been using it since earlier this month.Previously, workers would operate a welding torch which weighs more than 30 kg. After dozens of revisions since 2019, the robot was introduced at the shipyard.HD Hyundai, which started research on production automation back in 1987, is striving to improve quality and productivity through cutting-edge technology. It has developed around 100 different types of robots, including automatic recognition robots for small parts.In 2018, Hyundai Heavy Industries (HHI) introduced collaborative robots for the first time in the industry. Collaborative robots are capable of working together with humans by bein

Jan 24, 2023By Kim Hyun-bin
Shipbuilding industry turns to robots to overcome shortage of workers
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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.