The Korea Herald

Choi He-suk

안녕하세요 Choi He-suk 기자입니다.

Articles by Choi He-suk

Hyundai, Samsung shipyards clash in drillship market

IndustryJun 8, 2011

(Left) Hyundai Heavy Industries CEO Lee Jai-seong(Right) Samsung Heavy Industries CEO Roh In-sikKorean shipbuilders dominate global market with Hyundai Heavy challenging SamsungThe competition in the market for drillships is heating up with Hyundai Heavy Industries Co. threatening Samsung Heavy Industries Co.’s dominance. As drillships represent something of a golden egg for shipbuilders, a drills
POSCO begins works on synthetic gas plant

IndustryJun 7, 2011

Works on the country’s first plant for producing synthetic natural gas got underway at POSCO’s steelworks in Gwangyang, South Jeolla Province on Tuesday.Synthetic natural gas is a synthetic fuel with an identical composition to natural gas. It is produced by gasifying coal under high pressure and temperature.The plant is scheduled for completion at the end of 2013, and will be capable of producing
Seoul eyes 18% of global green energy market

IndustryJun 7, 2011

Knowledge Ministry reveals road map for developing eco-friendly energy resourcesThe Ministry of Knowledge Economy on Tuesday revealed a roadmap for developing eco-friendly energy resources aiming to create 1.5 million jobs and cut carbon dioxide emissions by 210 million metric tons by 2030.The roadmap also lays out plans to create a 94 trillion won ($87 billion) domestic market and exports of 328
3-D LCD panel sales surge in first quarter

IndustryJun 6, 2011

Sales of locally made three-dimensional liquid crystal displays surged 104 percent in the first quarter compared to the last three months of 2010, mainly fueled by a rise in global demand, an industry report showed Monday.According to the report by market research firm DisplaySearch, Korean-made 3-D LCD shipments reached 1.90 million units in the three-month period. It said the size of the market
POSCO to begin work on magnesium smelting plant

IndustryJun 6, 2011

POSCO will begin work on its first magnesium smelting plant on Friday.The plant, to be located within an industrial complex in Gangneung, Gangwon Province, is scheduled for completion in June 2012. Once complete, the plant will be capable of producing 10,000 metric tons of magnesium ingots on an annual basis, reducing imports by an estimated 35 billion won ($32 million) each year.According to indu
Volvo recalls 192 cars for faulty fuel, steering systems

IndustryJun 2, 2011

The Ministry of Land, Transport and Maritime Affairs announced Thursday that Volvo Cars Korea is recalling the S60 and XC90.The recall applies to 182 S60 vehicles produced between June 22, 2010 and May 18, 2011 that have faulty fuel pump controlling software that could cause the engine to be switched off while driving.Further six S60 vehicles produced between Jan. 20, 2010 and Jan. 28, 2011 found
Airlines add new routes and planes

IndustryJun 2, 2011

Asiana Airlines opened two new routes to Vietnam from Busan, while Korean Air announced that the Airbus A380 will go into service on June 17.On Thursday, Asiana Airlines began operating daily flights to Hanoi and Ho Chi Minh City in southern Vietnam from Busan. Asiana Airlines chief executive Yoon Young-doo (left) poses with pilots at the ceremony marking the opening of the Busan-Ho Chi Minh City
BAT Korea sells superpremium Dunhill

IndustryJun 2, 2011

British American Tobacco Korea announced Thursday that it will introduce “Dunhill SWITCH” cigarettes on the local market on June 7.The Dunhill SWITCH, which will be priced at 3,000 won ($2.8), comes in packaging with the “RELOC” inner wrapping, the company said.According to the company, which holds the patent on the inner wrapping method, RELOC is a re-sealable double cover that provides additiona
SK Group adds 80 billion won to shared growth fund

IndustryJun 1, 2011

SK Group announced Wednesday that it will increase the fund established to support small and medium-sized enterprises by 80 billion won ($74 million) to 230 billion won.The additional funds were raised by SK Telecom, SK Global Chemical Co. and a financial institution. The SK Group subsidiaries put together 32 billion won, the conglomerate said. The fund was established in 2009 with 120 billion won
Hyundai Heavy Q1 figures soar on ship, equipment sales

IndustryMay 31, 2011

Hyundai Heavy Industries Co.’s first quarter revenues jumped 70.1 percent from a year ago buoyed by rising ship and construction equipment sales, the company said Monday.According to the regulatory filing, Hyundai Heavy posted first quarter sales of 12.7 trillion won ($11.8 billion), up 70.1 percent from the same period last year.The company’s operating profits for the period came in at about 1.71
China’s Baitong to invest $70 million in Jeju resort

May 31, 2011

The China-based real estate developer Baitong Group will invest $70 million in a resort complex development project on the South Korean island of Jeju.According to the Ministry of Knowledge Economy, Baitong Group plans to build condominiums on the southern island that will be sold to Chinese consumers. The Chinese company’s intentions were confirmed at an event held on the sidelines of a conferenc
Apparent N. Korean spam e-mail sent to S. Korean officers: military

DefenseMay 30, 2011

North Korean hackers have apparently sent spam e-mail messages to South Korean military officers, carrying viruses and malicious computer code, military officials here said Monday.According to an official, senders who claim to be graduates of the Korea Military Academy in Seoul have written to about 60 current South Koran officers who graduated from the academy. Messages mostly included a benign g
S-Oil to buy into poly-silicon producer

IndustryMay 30, 2011

S-Oil Corp., the country’s third largest refiner, announced Monday that it will acquire a third of Hankook Silicon Co.’s stakes as part of its drive to expand into the renewable energy business.S-Oil said that the deal, which will see the refiner gain 33.4 percent of Hankook Silicon for 265 billion won ($245 million), will be finalized next month.The company said the decision to buy into the compa
STX shipbuilder gets $150m order from Greece

IndustryMay 30, 2011

STX Offshore and Shipbuilding Co. announced Monday that it has won a $150 million contract from a Greek shipping company.The Changwon, South Gyeongsang-based shipbuilder said that the contract for four petroleum product carriers was signed with the Greek shipping firm Thenamaris Ships Management Inc. on Friday.The shipbuilder said that the first of the four vessels will be delivered to Thenamaris
Renault Samsung revs up new SM7

IndustryMay 30, 2011

Renault Samsung Motors Co. is revving up to take on the country’s closely contested upper midsized sedan market with the revamped SM7.The revamped SM7, which will go on sale on the local market in the second half of the year, represents an opportunity for the company to gain ground in the local market. The new SM7. (Renault Samsung Motors Co.)With just under 2,500 units of the current SM7 sold on