Articles by 신현희
신현희
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Samsung’s Lee, wife donate W12 billion to Won Buddhism
Samsung Electronics Chairman Lee Kun-hee and his wife Hong Ra-hee have donated a total of 12 billion won ($11.2 million) since last year to help build a Won-Buddhist temple in New York, industry sources said Friday.Hong is known to be a devoted follower of Won-Buddhism, a Buddhist sect originating from Korea. Lee has no religion. Established in 1916, Won-Buddhism aims to modernize and rejuvenate Buddhism by using conventional teachings for practical purposes.Samsung Electronics Chairman Lee Kun-
Industry Aug. 5, 2011
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Yeosu Expo courts more than 45,000 volunteers
Public participation in the upcoming expo in Yeosu is picking up steam as more than 45,000 have applied to volunteer, its steering committee said Sunday.The committee said it had accepted applications between April 1 and July 10 for volunteer work at the event, which will kick off May 12 in Korea’s southern port. Only 13,000 will be selected in April after document examinations, interviews and onl
Industry July 31, 2011
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Joint venture lifts Korea’s Bolivian lithium bid
A Korean consortium forged an agreement with Bolivia’s state-run miner Comibol on Saturday to set up a joint venture to manufacture lithium-ion battery parts, boosting Korea’s bid to preemptively tap the vast Latin American mineral deposits.Under the deal, the Korea Resources Corp., POSCO and Comibol will form a task force next month or so to discuss details, a KORES official said. The scale of in
Industry July 31, 2011
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S-Oil Q2 net profit more than quadruples
S-Oil Corp. said Thursday its second-quarter net profit more than quadrupled compared to a year earlier, driven by brisk sales of petrochemicals and lubricants.In a regulatory filing, Korea’s No. 3 refiner posted 239.7 billion won ($227.7 million) in net profit for the April-June period, up 346.4 percent year-on-year.Sales shot up 63.4 percent to top 8 trillion won for the same period, setting a r
Industry July 28, 2011
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K-water head reappointed
Kim Kuen-ho, chief executive of the Korea Water Resources Corp., will retain the office for another year, the Ministry of Land, Transport and Maritime Affairs said Tuesday.The ministry said it received approval from President Lee Myung-bak for its request that Kim be reappointed for an additional year. His three-year term expired Wednesday. Kim Kuen-hoThe decision reflects the ministry’s efforts t
Industry July 28, 2011
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Air France-KLM in ‘long-term relationship’ with Korea
Air France, the first European carrier to enter the Korean market almost three decades ago, weathered a fair amount of storms here, but it never once thought to cut its services.Instead, it bet even bigger and pledged to stay for the long-term.This unwavering sense of commitment became the driving force behind the company’s fast and steady growth in Korea and Asia, said Erik Varwijk, executive vic
Industry July 27, 2011
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Kumho Petrochemical to invest W880b in Yeosu
Korea Kumho Petrochemical Co. and its three subsidiaries plan to spend 880 billion won ($837 million) by 2014 to scale up their production lines in Yeosu, South Jeolla Province the companies said Tuesday.The deal reflects the firms’ efforts to meet surging demand for their materials, which are used in automobiles and consumer electronics. When completed, Kumho Petrochemical will be able to churn o
Industry July 26, 2011
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Urban-planning expert to head GUIC
Lee Jae-young, an urban housing and planning specialist, took office on Monday as the new president of the Gyeonggi Urban Innovation Corporation.A former chief the of the land and housing unit at the Ministry of Land, Transport and Maritime Affairs, he will orchestrate the state-funded company’s residential land development activities. Lee Jae-yongAt his inauguration ceremony in Suwon, Gyeonggi P
Industry July 26, 2011
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Korea to build Venetian-style floodgates
Korea plans to set up high-tech facilities to stave off flooding at the country’s seaports, including flap gates similar to those being built in Italy’s Venice, the government said Monday.The Ministry of Land, Transport and Maritime Affairs unveiled a package of measures to minimize the impact of natural disasters such as earthquakes, floods, typhoons and tidal waves, which are increasingly freque
July 25, 2011
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TV makers wrestle with flimsy sales
Korea’s electronics giants Samsung and LG are grappling with faltering television businesses as slack demand in wealthy countries and nose-diving display prices combined to dent their second-quarter earnings.Samsung Electronics, the world’s top TV producer, estimated its operating profit at 3.7 trillion won ($3.5 billion) in the three months to June, down nearly 27 percent year-on-year. LG Display
Industry July 24, 2011
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Kakao Talk moving to launch Internet call services
Competition is heating up between mobile messenger operators in Korea as Kakao Talk, the formidable smartphone application, appears to be developing its internet phone call services. Industry watchers said Sunday the venture firm has been recruiting engineers who have experience in mobile voiceover Internet protocol, technology that enables voice and multimedia communications between users via bro
Industry July 24, 2011
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KCCI chief calls for deregulation, tax cuts
JEJU ― Korea should crank up efforts to ease regulations and cut taxes to up corporate competitiveness, said Sohn Kyung-shik, chairman of the Korea Chamber of Commerce & Industry.At a forum hosted by the country’s largest business lobby, Sohn called on the government to remain steadfast in its plan to lower corporate taxes to 20 percent from the current 22 percent starting next year. KCCI chairman
Industry July 21, 2011
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‘BRICS, U.S. difference is in ideas’
Participants agreed that the mainstay of economic growth is leaning to emerging markets led by BRICs — Brazil, Russia, India and China — since a financial calamity in 2007.JEJU ― Leaders in the country’s business circle and academia underscored the significance of innovation and speed in surviving the rapidly changing economic environment. Around 600 business leaders, scholars and government offic
Industry July 21, 2011
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Korean robotics industry bursting into bloom
Market for robots nearly doubles to 1.93tr won in 2010Korea’s robotics industry is making rapid headway as local developers chalked up record growth in output, sales and exports last year on the back of surging investment in factories, a government study showed Tuesday.According to the survey by the Korea Association of Robot Industry of 395 firms, their combined sales nearly doubled to 1.93 trill
Industry July 19, 2011
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Expert named to head sovereign wealth fund
Choi Jong-seok, son of former President Choi Kyu-hah, has been picked to head Korea Investment Corp., officials said.The country’s sovereign wealth fund and Ministry of Strategy and Finance have reviewed four applicants for the post and selected Choi, former chief executive of Allianz Global Investors Korea Ltd. and former vice president of Hana Bank. Choi Jong-seokChoi, 60, will replace Chin You
People July 19, 2011
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