The Korea Herald

Choi He-suk

안녕하세요 Choi He-suk 기자입니다.

Articles by Choi He-suk

New mobile carrier unlikely to bring much change to market

IndustryJul 19, 2011

The Korea Federation of Small and Medium Business is looking to set up a fourth mobile telecom services provider, but the market divided among three long-established giants is likely to hinder the would-be telecom operator.At present SK Group’s SK Telecom is the market leader with over 50 percent market share, followed by KT Corp., which accounts for about 35 percent of the market.LG Uplus, which
Hyundai Heavy to set up switchgear plant in Russia

IndustryJul 18, 2011

Hyundai Heavy Industries announced Monday that it will establish Hyundai Electricsystems in Vladivostok, Russia, that will produce gas insulated switchgears.Gas insulated switchgears are equipment used to control electricity flow, and to cut off power if a fault occurs in a power supply system.The company said it will invest 40 billion won ($38 million) in building the plant, and that the facility
BOK raises inflation outlook to 4 percent

Jul 15, 2011

The Bank of Korea raised its projection for this year’s inflation rate to 4 percent on Friday ― 15 days after the government raised its projections to the same level.The central bank had projected an inflation rate of 3.9 percent in April.The government, which had originally projected that consumer prices would rise by around 3 percent this year, changed its outlook for this year’s inflation rate
S. Korea's defense minister seeks return of Korean War POWs in China

DefenseJul 14, 2011

BEIJING (Yonhap News) – South Korea's Defense Minister Kim Kwan-jin requested China's cooperation for the safe return of South Korean prisoners of war (POWs) who are currently in China following their defection from North Korea where they had been held since their capture during the 1950-53 Korean War.The request came at Kim's meeting with Chinese Vice President Xi Jinping as the South Korean mini
Taxi fire distrupts traffic in Namsan tunnel

Social affairsJul 14, 2011

Passengers and drivers walk out of the tunnel. Yonhap NewsA taxi caught fire on Thursday in the tunnel linking Hannam-dong to Yejang-dong through Namsan, stopping traffic for about 90 minutes. The taxi caught fire while going through the tunnel towards Hannam-dong at 6:05 p.m. The fire was extinguished about 20 minutes later. No casualties were reported, but the fire caused motorists and passenge
Philip Morris Korea sponsors environment campaign

IndustryJul 14, 2011

The non-governmental organization Beautiful Community Forum announced Thursday that it will host photo and sculpture exhibitions as part of the 2011 Philip Morris Korea Clean Beach Campaign.The exhibitions will be at Sokcho Beach in Gangwon Province and Hamdeok Beach in Jeju from July 30 through Aug. 1 to raise awareness for preservation of sea resources.For the photo exhibition, the forum is hold
Innovation and collaboration fuels Korea Post’s express service

IndustryJul 14, 2011

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
Korea Post improving services in globalizing world

IndustryJul 14, 2011

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
SK Innovation given green light to sell Brazil venture

IndustryJul 13, 2011

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
Korea, Colombia to resume free trade talks next month

Jul 12, 2011

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
Kang becomes Korail’s first female regional chief

PeopleJul 12, 2011

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
SKT, STX shares slide on Hynix bid

IndustryJul 11, 2011

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
HC Petrochem begins works to triple capacity

IndustryJul 10, 2011

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
Korean outside directors ...make dubious watchdogs

IndustryJul 10, 2011

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
Lee arrives in Ethiopia for economic cooperation talks

PoliticsJul 8, 2011

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