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Lee Kyung-min

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Korea to charm BIE mission with 4 presentations

Bureau International des Expositions (BIE) Administration and Budget Committee President Patrick Specht, right, BIE enquiry mission members and Korean government officials take a guided tour of Eulsukdo Island Ecology Park in Busan, Tuesday. Korea Times photo by Shim Hyun-chulBy Lee Kyung-minKorea will be able to assure the Bureau International des Expositions (BIE) delegation of the country's capability and enthusiasm to host the World Expo 2030 in Busan, as underpinned by four thorough presentations on the plan's viability, significance and financing, according to the industry ministry, Tuesday. BIE is an intergovernmental organization in charge of overseeing and regulating World Expos. Its eight-member delegation is in Korea this week to evaluate Busan's Expo bid. Of the four presentations and Q&A sessions scheduled during their stay, the first was delivered, Monday, by Korea's Expo bid promotion committee Secretary-General Yoon Sang-jik and Trade Minister Ahn Duk-geun.The theme of Monday's presentation was “political unity,” one of four sub-themes prepared by Kore

Apr 4, 2023By Lee Kyung-min
Korea to charm BIE mission with 4 presentations
  • BIE delegates arrive in Busan for three-day inspection
Others

Samsung, Hyundai Motor, LG go all out to promote Busan's Expo bid

A large banner promoting Korea's bid to host the World Expo 2030 in Busan is put up on the exterior of a Samsung Electronics center in Busan, Tuesday. YonhapBy Lee Kyung-minSamsung, Hyundai Motor and LG are accelerating their campaigns to promote Korea's bid to host the World Expo 2030 in Busan, according to market watchers, Tuesday.The internationally recognized leading Korean conglomerates said large banners and digital signs will be installed on the exteriors of buildings in commercial districts and crowded areas for maximum exposure. Collective efforts will shore up nationwide support for the Expo bid campaign, presented in a unified voice to help charm an eight-member delegation from the Bureau International des Expositions (BIE), an intergovernmental organization in charge of overseeing and regulating World Expos. The Enquiry Mission led by BIE Administration and Budget Committee President Patrick Specht is visiting this week to assess the viability and feasibility of Korea as a host for the high-profile international event.They met with Korea's top policymakers, lawmakers, bus

Apr 4, 2023By Lee Kyung-min
Samsung, Hyundai Motor, LG go all out to promote Busan's Expo bid
  • Busan citizens unite to welcome BIE mission's arrival in city
Others

BIE delegates to meet ministers, business leaders during Expo inspection

Workers install a large banner supporting Busan's bid to host the World Expo 2030 on the wall of the National Assembly's main building, Seoul, Sunday. Yonhap9 hours of presentations, cultural events to enthrall delegationBy Lee Kyung-minAn eight-member delegation from the Bureau International des Expositions (BIE), an intergovernmental organization in charge of overseeing and regulating World Expos, will meet with Korea's top policymakers, lawmakers, business leaders and citizens to see how prepared and enthusiastic they are about Busan's bid to host the World Expo 2030, according to the industry ministry, Sunday.Apart from event organization capabilities illustrated by Korea's high-ranking government officials and business executives, the BIE Enquiry Mission will be able to experience the country's hospitality through cultural events, prepared to enhance their understanding of how Korea can stay distinctive while integrating different cultures seamlessly. Bureau International des Expositions (BIE) Administration and Budget Committee President Patrick Specht, third from left, poses w

Apr 3, 2023By Lee Kyung-min
BIE delegates to meet ministers, business leaders during Expo inspection
Companies

Korea ready for World Expo 2030

Members of the public-private committee promoting Korea's bid to host the World Expo 2030 pose after their meeting at the Four Seasons Hotel in Seoul, March 10. They include Prime Minister Han Duck-soo, front row fifth from right, Korea Chamber of Commerce and Industry Chairman Chey Tae-won, front row fourth from right, Foreign Minister Park Jin, front row sixth from?right,?Minister of Trade, Industry?and Energy Lee Chang-yang, front row third from left, and Busan Mayor Park Heong-joon, front row second from left. Courtesy of Prime Minister's OfficeKorea's citizens, unified public-private partnership excited to share exemplary growth story By Lee Kyung-min Korea will share its decades-long story of rapid, stable growth as the host of the World Expo 2030 in Busan, the industry ministry said on Sunday. This much-admired example of a once-impoverished war-torn country becoming the world's 10th-largest economy and a leader in the fight against climate change will be highlighted as Busan stands ready to host the mega-event. Korea is the only country that has had its status changed to &ldq

Apr 2, 2023By Lee Kyung-min
Korea ready for World Expo 2030
  • Expo supporters crowd Busan Station to promote city's hosting bid
Companies

Hyosung chairman wins top management award for global growth, future value creation

Hyosung Group Chairman Cho Hyun-joon delivers an acceptance speech after winning a prize given by the Korean Academic Society of Business Administration at the Plaza Seoul, Wednesday. Courtesy of Hyosung GroupBy Lee Kyung-minHyosung Group Chairman Cho Hyun-joon has won the top management award for his contribution to the global growth of the group, the firm said Wednesday.The prize is given by the Korean Academic Society of Business Administration (KASBA), a private research organization, and is considered its highest honor. It is awarded to entrepreneurs who have made exceptional contributions to corporate growth and enriching the entrepreneurial spirit with excellent management abilities. The name of the prize is the KASBA CEO Grand Prix. The organization's award committee unanimously selected the Hyosung chairman as the winner this year.Cho, according to the organization, implemented and strengthened three principles of management, which he learned from his father Hyosung Honorary Chairman Cho Suk-rae and grandfather and group founder Cho Hong-je. He mentioned the achievements of

Mar 29, 2023By Lee Kyung-min
Hyosung chairman wins top management award for global growth, future value creation
Companies

CONTRIBUTION Carbon neutrality and Korean manufacturing

Ju HyeonBy Ju Hyeon In October 2021, the Korean government issued aggressive new greenhouse gas (GHG) reduction targets. These were accompanied by a scenario describing how the country could go carbon neutral by 2050.For the industrial sector (to which the manufacturing industry belongs), the government pledged by 2030 to reduce GHG emissions by 14.5 percent compared to 2018 levels through increasing energy efficiency and by transitioning away from fossil energy to low-emission fuels. And in the medium to long term, Korea set a goal of cutting carbon emissions by 80 percent through the commercialization of innovative, carbon-free technologies. This March, Korea will release its new 2030 roadmap outlining specific, year-by-year GHG reduction pathways for achieving its revised 2030 Nationally Determined Contribution (NDC) emissions reduction targets.Compared to other major economies, promoting carbon neutrality in Korea is an especially challenging task given the strong export competitiveness of its manufacturing industry. In Korea, the manufacturing industry accounts for 28 percent of

Mar 29, 2023By Lee Kyung-min
[CONTRIBUTION] Carbon neutrality and Korean manufacturing
Companies

Tax certainty, labor reform, better IP protection will help Korea become Asia's business hub: AMCHAM

Chairman of American Chamber of Commerce in Korea (AMCHAM Korea) James Kim, front row sixth from left, Minister of Trade, Industry and Energy Lee Chang-yang, front row seventh from left, U.S. Ambassador to Korea Philip Goldberg, front row fifth from left, and Incheon Mayor Yoo Jeong-bok, front row eight from left, pose with other guests at the AMCHAM Doing Business in Korea Seminar at the Grand Hyatt Seoul, Wednesday. Courtesy of AMCHAMBy Lee Kyung-minGreater policy certainty in corporate taxes, flexibility in the labor market and enhanced intellectual property (IP) rights are needed for Korea to become a regional business hub in Asia, according to the American Chamber of Commerce in Korea (AMCHAM Korea), Wednesday.The relocation of regional headquarters of global firms to Korea in that sense is about more than greater job opportunities here, according to the group representing the interests of U.S. firms operating in Korea. Rather, the objective is more about having senior executive positions with key decision-making authority, as well as about more effective supply chain management

Mar 29, 2023By Lee Kyung-min
Tax certainty, labor reform, better IP protection will help Korea become Asia's business hub: AMCHAM
Companies

Kakao to create synergy with SM Entertainment

Kakao headquarters on Jeju Island / Korea Time fileKakao CEO Hong Eun-taekBy Lee Kyung-minKakao's high-tech IT value chain distribution channels will be combined with SM Entertainment's extensive intellectual property (IP), leading to mutually beneficial business expansion, the company CEO said Tuesday.Kakao and its entertainment subsidiary Kakao Entertainment together acquired a 39.87 percent stake in SM Entertainment, a leading local cultural content agency.The vision outlined during the general shareholders meeting is the conclusion of weeks of hostile takeover attempts, sustained largely by tender offer moves led by two Kakao entities. The Kakao firms offered to buy over 8.33 million SM shares, or 35 percent of the total SM shares issued, at a per share price of 150,000 won ($115). Over 18.88 million shareholders, accounting for 80 percent of the SM shares in the market, sought to take up on the offer, raising the competition ratio to 2.26:1. The full purchase of offered shares pushed the stakes held by Kakao and Kakao Entertainment up to 20.76 percent and 19.11 percent, respecti

Mar 28, 2023By Lee Kyung-min
Kakao to create synergy with SM Entertainment
Others

Bid Committee for World Expo 2030 Busan signs MOU with Hyundai Motor Group

World Expo 2030 Busan Bid Committee Secretary General Yoon Sang-jik, right, and Hyundai Motor Company Senior Vice President Kim Dong-wook hold a copy of a signed memorandum of understating at D Tower in Gwanghwamun, Seoul, Tuesday. YonhapBy Lee Kyung-minThe public-private committee promoting Busan's bid to host the World Expo 2030 has signed a memorandum of understanding (MOU) with Hyundai Motor Group, in a coordinated effort to illustrate the capabilities of Korea's infrastructure and technological advancements in high-tech and green electric vehicles (EVs), market watchers said, Tuesday. The joint cooperation is in preparation for next week's visit by the Enquiry Missions of the Bureau International des Expositions (BIE), an intergovernmental organization in charge of overseeing and regulating World Expos. The Enquiry Missions comprised of key BIE officials and member states will stay for five days through April 7 to review the feasibility and viability of holding the Expo here as well as the level of national support for the international event.Hyundai Motor and the World Expo 203

Mar 28, 2023By Lee Kyung-min
Bid Committee for World Expo 2030 Busan signs MOU with Hyundai Motor Group
  • Baby Shark named as 5th brand ambassador for World Expo 2030 Busan
Others

Baby Shark named as 5th brand ambassador for World Expo 2030 Busan

A screenshot of the “Baby Shark Dance” YouTube video / Korea Times fileBy Lee Kyung-min The public-private committee promoting Busan's bid to host the World Expo 2030 has selected Baby Shark as the official ambassador for the international event, in an effort to help the Korea-originated global viral sensation raise awareness of the importance of a global coalition to counter climate change, the committee said Tuesday. The committee said the animated character will be able to convey messages of love, caring and sharing with young children and their parents all around the world ― a continuation and extension of Busan's Expo bid campaign. The animated character produced by Pinkfong, a local entertainment company, became a YouTube hit in 2016 after a version of the song went viral across social media, online video platforms and radio. In January 2022, it became the first YouTube video to reach 10 billion views. Earlier in November 2020, Pinkfong's version became the most-viewed YouTube video of all time, with over 11 billion views as of July 2022. The committee will hold an

Mar 28, 2023By Lee Kyung-min
Baby Shark named as 5th brand ambassador for World Expo 2030 Busan
  • Bid Committee for World Expo 2030 Busan signs MOU with Hyundai Motor Group
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