The Korea Herald

안녕하세요 Seo Jee-yeon 기자입니다.

Articles by Seo Jee-yeon

Seoul shares fall on China woes

Jan 15, 2016

South Korean shares dropped 1.1 percent to hit a five-month low on Friday as investor sentiment was again spooked by losses in the Chinese stock market. The local currency remained flat against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 21.14 points to close at 1,878.87, the lowest since Sept. 8, 2015. Trade volume was thin at 303.9 million shares worth 4.39 trillion won ($3.62 billion), with losers outnumbering winners 584 to 274.Foreigners remained net sellers for 10
New finance minister vows to make S. Korea No. 5 exporter

Jan 15, 2016

South Korea’s new finance minister said Friday that the country’s team of new economic ministers will do their best to lay the foundation for helping the country become the world’s fifth-biggest exporter in the near future.Yoo Il-ho, who took office Wednesday, chose to visit the port of Pyeongtaek, one of the biggest maritime gateways on the west coast, to show his determination in reviving exports.South Korea was the sixth-biggest exporter in the world last year with $440.1 billion in outbound
E-commerce boom lifts Parcel delivery market

IndustryJan 15, 2016

South Korea’s parcel delivery is set to continue decent growth this year following last year’s stellar performance on the back of a rising demand in online shopping, but tougher competition for fast delivery may eat into operators’ profitability, industry data showed Friday. The volume of parcel services jumped 10.6 percent on-year to 1.81 billion boxes in 2015, and combined sales rose 8.5 percent to 4.34 trillion won ($3.59 billion), the Korea Integrated Logistics Association said.E-commerce ha
Sales of Volvo vehicles jump 42.4% in 2015

TransportJan 14, 2016

Volvo was a rising star among foreign car brands outside of German luxury ones in 2015, as its sales jumped 42.4 percent to 4,238 units from the previous year.The S60 midsize luxury sedan from the Swedish automaker was the best-selling model here. Its sales rose on-year 61.2 percent to 1,122 units in 2015, Volvo Car Korea said in a press release Thursday. The product lineup of Volvo Cross Country. Volvo Car KoreaThe V40 hatchback and XC60 sport utility vehicle were two other models lifting sales
GM denies speculation of another pullout from Korea

TransportJan 13, 2016

GM Korea president James Kim denied the speculation of a possible pullout from Korea again, saying the rumor is groundless, Yonhap news agency reported Wednesday. His comment was made during a meeting with the local press during the 2016 Detroit Auto Show on Tuesday. Kim said GM considers Korea is one of the important markets and so it will roll out new cars to boost sales this year, the report added. (Yonhap)The repeated rumor that the U.S. automaker could leave the country was recently reignit
New climate deal could boost nuclear energy

IndustryDec 23, 2015

As the new global climate accord reached in Paris earlier this month emphasized the role of nuclear energy in reducing greenhouse gas emissions, the state-run Korea Hydro & Nuclear Power Co. hosted a forum in Seoul on Tuesday to discuss the future of clean energy in preparation for the post-fossil fuel era. Organized by the Korea Atomic Industrial Forum, the discussion-driven event covered such agendas as the role of nuclear power in a low-carbon economy and Korea’s strategies to achieve its emi
Ssangyong, union likely to settle 6-year dispute

TransportDec 15, 2015

Ssangyong Motor’s management and labor union have reached a tentative agreement to rehire a group of dismissed workers, a move widely seen here as a major breakthrough to end their six-year labor dispute. “The company took a critical step to end the prolonged labor conflict,” a company official said Monday. The agreement was made during tripartite talks among Ssangyong CEO Choi Johng-sik, union leader Hong Bong-seok and Kim Deuk-jung, a representative from the Korea Metal Workers’ Union. Kim has
[Weekender] Airports as cultural, commercial destinations

IndustryDec 11, 2015

International passengers wait for their flight at the departure terminal at Ihcheon Airport. Incheon AirportKim Young-chul, 37, an engineer for a shipbuilding company, often visits Incheon International Airport, South Korea’s main gateway, with his family. But he comes here not only for travel, but for family activities as well. “For my two daughters, the airport is a fun and dynamic place packed with people from around the world. When we visit the airport, we often spend a few hours there, whil
Hyundai Motor executive to meet angry netizens

TransportDec 5, 2015

Hyundai Motor Group will host a face-to-face meeting between its executive responsible for domestic sales and local netizens who have are upset with its vehicles on Dec. 14 as part of its efforts to regain customer trust and improve brand image. Hyundai Motor vice chairman Kwon Moon-sik, who is responsible for the R&D function, hosts a Q&A session with invited students in November. Hyundai MotorThe rare move was revealed on Wednesday with an online banner inviting members of bobaedream.co.kr, on
Mercedes-Benz Korea aims to double SUV sales

TransportDec 2, 2015

MUJU, North Jeolla Province ― Mercedes-Benz Korea will strengthen its product line of sport utility vehicles by 2017 in an effort to continue its growth momentum, according to the new CEO on Tuesday. “SUV is an important contributor to the company’s growth with the current share of sales of approximately 7 percent. We expect that this will double by the end of 2016,” Dimitris Psillakis, the head of Mercedes-Benz Korea, makes a presentation on the firm's growth vision during the SUV media test-d
Gimpo Airport to open first business jet terminal in April

Dec 1, 2015

Korea will capitalize on the fast-growing business aviation market with the opening of the nation’s first terminal for business jets at the Gimpo International Airport in April next year. An artist’s rendering of the Business Aviation Center at Gimpo International Airport, which will open in April. Gimpo Airport“The Gimpo Business Aviation Center will play a role as a small airport for business jet passengers and aircrafts,’’ Chung Duck-kyo from the Gimpo Airport said.The Airport invested about
Hyundai founder’s grandsons coming to fore

IndustryNov 24, 2015

Following is the second in a three-part story featuring the late Hyundai Group founder Chung Ju-yung’s leadership and his management philosophy on the occasion of the 100th anniversary of his birth. ― Ed. The late Hyundai Group founder Chung Ju-yung stood ahead of others in terms of family size in the community of Korean chaebols. Chung and his wife Byun Joong-suk had eight sons and a daughter. Most of the sons grew up to be businessmen, influenced by his entrepreneurial spirit. With so many son
Hyundai founder’s saga inspires beyond generation

IndustryNov 23, 2015

Following is the first in a three-part story featuring the late Hyundai Group founder Chung Ju-yung’s leadership and his management philosophy on the occasion of the 100th anniversary of his birth. ― Ed.As the 100th anniversary of the birth of the late Chung Ju-yung, founder of the Hyundai empire, draws near, a zeal to learn from his leadership is building across generations in Korea, whose economic vitality is weakening due to low growth and an aging population. The books published to reevaluat
Global entrepreneurship initiative inspires start-ups

IndustryNov 16, 2015

Han Jung-wha (center, front row), chief of the Small and Medium Business Administration, poses with domestic and international VIP guests in the opening of the 2015 Global Entrepreneurship Week at The-K Hotel Seoul in southern Seoul on Monday. SMBAThe Korean version of Global Entrepreneurship Week, an international initiative aimed at introducing entrepreneurship to young people, kicked off Monday in Seoul, giving hundreds of Korean young entrepreneurs a chance to meet global mentors and learn h
Can Genesis open new chapter for Hyundai?

TransportNov 12, 2015

Hyundai Motor vice chairman Chung Eui-sun makes a presentation on the vision of Genesis, the firm's new luxury brand, in Seoul on Nov. 4. YonhapHyundai Motor has made a splash in the auto industry since the nation’s top automaker, which had focused on the mass market, officially launched its premium brand Genesis on Nov. 4 to take on the global luxury car market. Through its artist’s rendering released Tuesday, the G90 (EQ 900 in Korea), the first model of Genesis showed it is bold and sleek en