Articles by 최희석
최희석
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Innovation and collaboration fuels Korea Post’s express service
Introduced in 1979, the volume of packages moved through Korea Post’s express mail service or EMS has grown rapidly fueled by increasing exchange with other nations.According to Korea Post, the number of EMS packages sent abroad in 1979 numbered 600, but the figure soared to over 6 million last year, with revenues generated from the service reaching 243.4 billion won ($230 million). Kim Myong-ryo
Industry July 14, 2011
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Korea Post improving services in globalizing world
CEOs of global 10 postal services discuss strategies to strengthen cooperation in BarcelonaKorea Post is stepping up efforts to improve the quality of international delivery services in collaboration with other national postal service providers.On Wednesday, the Kahala Posts Group ― an association of 10 postal services ― held a strategy meeting in Barcelona, where the attending chief executives of
Industry July 14, 2011
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SK Innovation given green light to sell Brazil venture
The Brazilian government approved the sale of SK Innovation’s Brazilian subsidiary to Denmark’s Maersk Oil, the Korean refiner announced Wednesday.The deal, which the company plans to close within one month, was first signed with the Danish firm in December and will see SK Innovation handing over its Brazilian subsidiary, SK do Brasil, to Maersk Oil for $2.4 billion.SK do Brasil was established in
Industry July 13, 2011
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Korea, Colombia to resume free trade talks next month
Minister sees completion of negotiations by year endNegotiations for a free trade agreement between Korea and Colombia could be concluded as early as December, Colombian Minister of Trade, Industry and Tourism Sergio Diaz-Granados said on Tuesday.“Working-level officials will hold a round of negotiations in late August, and it was agreed that we will try to finish the negotiations by the end of th
July 12, 2011
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Kang becomes Korail’s first female regional chief
Kang Chil-soon, 51, has become the first female to head a regional headquarters of Korea Railroad, the national rail operator.In the July 1 reshuffle, Kang was named chief of Korail’s regional headquarters for Seoul, making her Korail’s first female regional chief in the company’s 111-year history. Kang Chil-soonKorail’s Seoul headquarters is responsible for the company’s services and facilities i
People July 12, 2011
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SKT, STX shares slide on Hynix bid
With little effect expected from acquisition of Hynix Semiconductor, SK Telecom shares fell to the lowest this year on Monday.On Friday, SK Telecom and STX Group submitted letters of intent to acquire the world’s second-largest chip maker Hynix. The 15 percent stake in the chipmaker is expected to fetch around 2.5 trillion won ($2.4 billion). Hynix closed at 26,450 won, down 0.56 percent from Frid
Industry July 11, 2011
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HC Petrochem begins works to triple capacity
Industry and government officials including Hyundai Oilbank CEO Kwon Oh-gap (sixth from left) and Cosmo Oil CEO Kimura Yaichi (fifth from left) take part in the groundbreaking ceremony for HC Petrochem’s new plant in Daesan, South Chungcheong Province, Friday. (Hyundai Oilbank)HC Petrochem, a joint venture between Hyundai Oilbank Co. and Japan’s Cosmo Oil Co., began work on a new plant that will t
Industry July 10, 2011
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Korean outside directors ...make dubious watchdogs
Some draw as much as 97 million won for 10 days of workOutside directors at Korean companies may not be fulfilling their roles despite their handsome salaries.According to the data local firms submitted to the Financial Supervisory Service, some firms paid their outside directors as much as 9.7 million won ($9,200) for each day they spent attending company functions. Outside directors were made a
Industry July 10, 2011
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Lee arrives in Ethiopia for economic cooperation talks
ADDIS ABABA, Ethiopia – South Korean President Lee Myung-bak arrived in Ethiopia on Friday for a three-day visit that includes economic cooperation talks with Prime Minister Meles Zenawi and a series of activities paying tribute to Ethiopia's participation in the Korean War.Ethiopia is one of the 16 nations that sent combat troops as part of U.N. forces to help South Korea repel invading North Kor
Politics July 8, 2011
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PyeongChang Winter Olympics to be a massive boost for Korean economy
Banners celebrating PyeongChang’s selection as the host of the Winter Games in 2018 are hung across a road near the Alpensia Resort in PyeongChang on Thursday. (Yonhap News)PyeongChang’s hosting the Winter Olympics in 2018 will bring massive economic benefits for the country.According to estimates based on a report compiled in 2008 by the Korea Institute for Industrial Economics and Trade, hosting
Industry July 7, 2011
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POSCO to acquire Southeast Asia’s largest stainless steel maker
POSCO announced Thursday that it signed a share purchase agreement to acquire controlling stakes in the Thai stainless steel maker ThaiNox.ThaiNox is Southeast Asia’s largest stainless steel maker and currently produces about 240,000 metric tons of cold rolled stainless steel on an annual basis.POSCO currently holds a 15 percent stake in the company, and the latest deal will see the steel giant ac
Industry July 7, 2011
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LG Electronics cuts smartphone target by 20 pct
LG Electronics Inc., the world's third-largest maker of mobile phones, said Thursday that it expects to sell 24 million smartphones this year, 20 percent fewer than its earlier target, as competition in the lucrative handset market intensifies.The reduced sales target may complicate LG's efforts to revive its money-losing mobile business, which is expected to report a fifth straight quarterly loss
Industry July 7, 2011
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SK Group’s Chey family hit by series of scandals
A member of SK Group’s Chey family is once again under the scrutiny of the investigative authorities, adding to the growing list of suspect goings on at the country’s third largest conglomerate.In the latest investigation involving a member of the Chey family, prosecutors have banned vice chairman Chey Jae-won from leaving the country as they look into the allegation that he has slush funds amount
Industry July 6, 2011
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End of fuel discount raises tension among refiners
A banner advertising a 100-won discount per liter on fuel is seen at a gas station in Seoul on Sunday, three days before the scheduled end of the discount period. (Yonhap News)Tension among refiners is flaring up again with the government pressuring them to bring fuel prices back to normal rates in stages.Under pressure from the government, local refiners lowered the pump price of motor fuel by 10
Industry July 5, 2011
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Cisco plans Songdo investment of $47m
New Songdo International City Development, the International Business District developer established as a collaborative project between POSCO E&C and the U.S. developer Gale International, on Monday signed a $47 million investment deal with Cisco Systems Inc.Under the deal, Cisco will move its Smart + Connected Communities Global Center into the Northeast Asia Trade Tower in Songdo, Incheon and es
Industry July 4, 2011
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Dongduk Women’s University halts coeducation talks
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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OpenAI in talks with Samsung to power AI features, report says
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Two jailed for forcing disabled teens into prostitution
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South Korean military plans to launch new division for future warfare
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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Teen smoking, drinking decline, while mental health, dietary habits worsen
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Kia EV9 GT marks world debut at LA Motor Show
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North Korean leader ‘convinced’ dialogue won’t change US hostility
