my timesThe Korea Times
lkm

Lee Kyung-min

Korea Times AI content 2 team Reporter

Value context and insight. lkm@koreatimes.co.kr

Go to EmailGo to URL

Read more

Companies

ANALYSIS Will Korea be able to achieve RE100?

Global, local environment advocacies criticize Korea's lowered dependence on renewablesBy Lee Kyung-minLocal energy authorities are grappling with two contradictory objectives: securing a stable supply of energy and achieving carbon neutrality. Granted, spearheading the two goals at equal weight was not without hurdles a few years ago, when a growing number of local firms said they would embrace RE100. The initiative led by Climate Group seeks to help influential businesses commit to 100 percent renewable energy while seeking zero-carbon grids on a global scale.But things have taken a turn for the worse over the past few years ― far worse. Sustained increases in global key commodity prices show no signs of stabilizing, 10 months after Russia's invasion of Ukraine.The volatile war-triggered crisis is a major doomsday scenario for export-reliant Korea, which relies on imports to meet 97 percent of its energy needs.Should Korea make a course correction to revise energy policy directives to best help local firms procure electricity sources for stable industrial production, even when it m

Dec 4, 2022By Lee Kyung-min
[ANALYSIS] Will Korea be able to achieve RE100?
Companies

Will gov't executive order extend to steel, oil industry truckers?

First Vice Minister of Trade, Industry and Energy Jang Young-jin, left, is on a guided visit at the manufacturing plant of SeAH Steel in Gunsan, North Jeolla Province, Friday. Courtesy of Ministry of Trade, Industry and EnergyBy Lee Kyung-minOver 1.6 trillion won ($1.2 billion) in economic losses brought on by the nationwide strike of the country's unionized truckers continue to cripple major export-driver manufacturers, according to the trade and transport ministries, Friday. Further strengthening calls for stronger government measures is a short-term fuel shortage, a major inconvenience to the public, increasingly showing disapproval of the demands of unionized truckers. The government said the current law which guarantees a minimum wage will be extended for three years, but the truckers say the law should be revised to permanently guarantee the minimum freight rate and that more cargo items should be eligible for the minimum rate besides cement and export containers. President Yoon Suk-yeol is expected to determine whether another executive order similar to the one issued Tuesday

Dec 2, 2022By Lee Kyung-min
Will gov't executive order extend to steel, oil industry truckers?
Companies

Hyundai E&C sells Hillstate apartments in Incheon

An illustration of the Hyundai Hillstate apartment complex / Courtesy of Hyundai E&CBy Lee Kyung-minA total of 746 apartments will be put up for sale in the Hillstate apartment complex in Incheon, according to building developer Hyundai Engineering & Construction (E&C), Wednesday.The Hillstate Incheon City Hall Station complex will house nine 28-story buildings that each have three underground parking facilities in the city's Namdong District. Anyone aged 19 or older can put in a subscription request to buy an apartment. They can take out a mortgage of up to 60 percent of the value of the apartment, as limited by the loan-to-value (LTV) ratio borrowing regulations.A show home for Hillstate Incheon City Hall Station is open in nearby Ganseok-dong.The complex is near where the construction of the GTX-B, a high-speed public transit line, is set to open in the first half of 2024.A large number of residential and hotel accommodations as well as administrative services are available near the complex. Large department stores and retail chains are nearby, including Lotte Departme

Dec 2, 2022By Lee Kyung-min
Hyundai E&C sells Hillstate apartments in Incheon
Companies

Truckers' strike triggers fuel shortage

A group of union members representing striking truckers, left, and a transport ministry official, right, stand in a hallway, after their second attempt at resolving the ongoing strike ended in failure at Sejong Government Complex, Wednesday. YonhapNegotiations between gov't, truckers' union falls through againBy Lee Kyung-minA nationwide strike by the country's unionized truckers is causing some local petrol stations to run out of gasoline and diesel, according to the energy ministry, Wednesday, prompting owners of cars and buses to brace for a full-fledged fuel shortage next week.Up to 80 percent of the cargo truckers who carry fuel provided by the top four local refiners ― SK Innovation, GS Caltex, S-Oil and Hyundai Oilbank ― are union members. Many have warned that a prolonged strike will lead to a short-term fuel shortage and overall price hikes.The government and striking workers remain poles apart over the demands of union members seeking a permanent guarantee of a minimum wage. This difference was amplified by President Yoon Suk-yeol issuing an executive order, Tuesday, requir

Nov 30, 2022By Lee Kyung-min
Truckers' strike triggers fuel shortage
  • KITA, biz associations call on truckers to end strike
Companies

Companies urge unionized truckers to end strike

An out-of-gas sign is put up at a gas station in Seoul, Tuesday. Up to 80 percent of the cargo truckers who carry fuel provided by the top four local refiners ― SK Innovation, GS Caltex, S-Oil and Hyundai Oilbank ― are union members. The government said earlier that a prolonged strike will lead to a short-term fuel shortage at gas stations and overall price hikes. Yonhap By Lee Kyung-minCompanies and business associations welcomed a presidential executive order, Tuesday, whereby 2,500 striking truckers in the cement industry could be criminally prosecuted.They said the order is a much-needed move to rein in a group of hardline militant union members, long governed by only self-interests at the expense of hard-working non-union counterparts.Company officials said the scope of the order should be expanded to include those disrupting the steel, automotive, refinery and petrochemical industries, in order to better uphold the governing principle of the rule of law across

Nov 29, 2022By Lee Kyung-min
Companies urge unionized truckers to end strike
Companies

Dongsuh Foods seeks to fortify digitalization capabilities

Employees of Dongsuh Foods work in a smart factory in Changwon, South Gyeongsang Province. Courtesy of Dongsuh FoodsDongsuh Foods, a food and beverage firm, said its commitment to digitalization is bearing meaningful outcomes, as evidenced by higher productivity and overall safer manufacturing process after investing 41.8 billion won ($31.5 million) for the construction of two smart factories over the past few years. The firm said factories with automated production of instant coffee in Incheon's Bupyeong District began operation in May 2020. One in Changwon, South Gyeongsang Province, began operation in July.The firm has led the digitalization drive since 2015, aiming for a more tailored approach to better meet the needs of consumers with varying taste preferences. Different beans were needed for different blends and roasts. The latest trend and rapidly changing consumer preferences led to the launch of a special digitalization task force to review the viability of building and operating a smart factory.The task force members following months of discussion were able to find ways to

Nov 29, 2022By Lee Kyung-min
Dongsuh Foods seeks to fortify digitalization capabilities
Companies

POSCO obtains ResponsibleSteel certification for ESG management

A photo of a steel plant operated by POSCO in Pohang. Courtesy of POSCOBy Lee Kyung-min Two steel plants operated by POSCO obtained certification for their contributions to the sustainable future of the steel industry, a feat underpinned by their efforts and management in advancing environmental, social and corporate governance (ESG) goals, the steel giant said Monday. The plants in Pohang and Gwangyang were given the certification on Nov. 31 (local time), after a nine-month review by the Future Strategy Forum in Memphis, Tennessee.They are the first among Asia's steel plants to obtain the certification from ResponsibleSteel, a non-profit organization best known for its multi-stakeholder ESG standards and certification program operations. The entity was established in 2016 to better address the environmental consequences brought on by the fossil fuel-reliant industry. The entity has about 130 members firms active in industries including steel, raw materials, carmaking and energy, as well as civic environmental rights advocacies. POSCO has been a member since January.The two plants me

Nov 28, 2022By Lee Kyung-min
POSCO obtains ResponsibleSteel certification for ESG management
Companies

Government poised to order striking truckers back to work

Interior Minister Lee Sang-min, second from left, speaks during a press conference at the Seoul Government Complex in Gwanghwamun, Monday. YonhapShipments drop sharply at 12 key ports, export-driving manufacturers hit hard By Lee Kyung-min President Yoon Suk-yeol will convene a Cabinet meeting Tuesday to determine whether to issue an executive order to require striking truckers to resume work immediately, as the first negotiation between the government and truckers' union broke down Monday afternoon, government sources said Monday.Truckers refusing to comply face a suspension of their driver's licenses and possible revocation thereafter. A continued failure to comply will result in a maximum prison term of three years or a fine of 30 million won. The ongoing strike is estimated to have caused economic losses of 300 billion won ($223 million) per day.Propelling the stern and unprecedented measure is the fifth-day extension of the collective action organized by hardline unionized truckers under the Korean Confederation of Trade Unions (KCTU). This is their second walkout since June whe

Nov 28, 2022By Lee Kyung-min
Government poised to order striking truckers back to work
Companies

Lee Jae-yong puts 'New Samsung' into action

Samsung Electronics Chairman Lee Jae-yong goes on a guided tour at Dong-A Plating in Busan, Nov. 8. Korea Times fileBy Lee Kyung-minSamsung Electronics Chairman Lee Jae-yong has spent the past 30 days meeting with small local partner firms and global high-profile leaders, an indication of his prioritizing of mutual sustainable growth as the head of the IT giant, industry watchers said Sunday.Many say Lee visiting small partner firms even before presiding over executive meetings are emblematic of his “New Samsung” corporate vision, whereby the efforts of its long-time partners will be increasingly recognized and appreciated to boost morale. The specifics will be outlined soon.Lee's chairmanship began Oct. 27, ending a 10-year stint as vice chairman. Prior to the promotion, he remained the only de facto leader without the title of chairman at one of the country's top four conglomerates, including Hyundai, SK and Lotte.Lee's first official visit after his promotion was to DK, a partner firm in Gwangju, Oct. 28.The firm first entered business with Samsung in 1994 and has sinc

Nov 27, 2022By Lee Kyung-min
Lee Jae-yong puts 'New Samsung' into action
Companies

Senior land ministry official develops app for dog walkers

Oh Seong-ik By Lee Kyung-min A senior land ministry official has developed a mobile app that helps dog owners to discover the best routes for walking their pets.Oh Seong-ik, director of the geospatial information division at the Ministry of Land, Infrastructure and Transport, said the app ― jointly developed by piedpuppy, a local app developer ― is a good example of how to best use spatial information for the benefit of the public.“Spatial information managed by the government can be used for data mining, as enabled by satellite-based GPS data. How it can be analyzed and processed to enhance user convenience is the job of the government,” he said.He is responsible for Korea's geospatial business policymaking encompassing digital twin and satellite information management.His previous work includes policymaking for the country's overseas construction industry. He assisted local builders' worldwide construction of energy plants, infrastructure development and city plan

Nov 24, 2022By Lee Kyung-min
Senior land ministry official develops app for dog walkers
previous page
159160161162163
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.