The Korea Herald

안녕하세요 Seo Jee-yeon 기자입니다.

Articles by Seo Jee-yeon

Chairman Chung reopens Hyundai Glovis block sale

IndustryFeb 5, 2015

Hyundai Motor Group chairman Chung Mong-koo and his son Eui-sun have once again put on sale their combined 13 percent stake in the automaker’s logistics affiliate Hyundai Glovis, the company said in a press release on Thursday. Their first attempt to sell the stake in a block deal last month failed due to unspecified reasons, although industry sources attributed it to the size of the deal at 1.5 trillion won ($1.39 billion) and sales conditions.“The company has an urgent need to push for the dea
Chrysler 200 adds competition in midsize sedan market

TransportFeb 3, 2015

Fiat-Chrysler Automobiles debuted the 2015 all-new Chrysler 200 in Korea on Tuesday, targeting the midsize sedan market, one of the most competitive segments here. Models pose in front of the all-new Chrysler 200, which debuted in Korea on Tuesday. (FCA Korea)With an affordable price in the 30 million won ($27,000) range and new design, the gasoline-powered family sedan will compete against best-selling models in the category, including the BMW 3, Toyota Camry and Hyundai Sonata, FCA Korea presi
Carmakers gear up for plug-in vehicle war

TransportFeb 1, 2015

Falling oil prices are not expected to put a brake on the zeal for battery-powered, plug-in clean cars, as global automakers are competing to expand their electric vehicle lineup to win the battle for the clean car market. Carmakers have diversified their lineups of plug-in hybrids and fully electric vehicles. The trend was well reflected through the 2015 North American International Auto Show in Detroit from Jan. 12-25. “At the show, most of global carmakers clearly delivered a message that the
BMW cars found vulnerable to unlocking by hackers

TransportFeb 1, 2015

By tapping into a security flaw in a digital-service system, hackers could wirelessly open BMW, Mini and Rolls-Royce vehicles in minutes, according to a report by German auto club ADAC. About 2.2 million vehicles equipped with BMW’s ConnectedDrive service were vulnerable, ADAC said. BMW’s electric car i3 EV, fitted with ConnectedDrive. (BMW)The Munich-based carmaker said it upgraded the system to close the security gap and that the software update will take place automatically when a vehicle co
U.S. auto sales outlook rises

TransportFeb 1, 2015

An improving job market and cheap gasoline is likely to add 200,000 more car sales this year than analysts estimated just two months ago, according to a new survey. After a strong finish to 2014 ― November and December were two of the year’s three best months ― most analysts surveyed by Bloomberg increased their 2015 estimates, raising the average projection to 16.9 million deliveries. As recently as mid-November, the average estimate was for sales to rise about 200,000 to 16.7 million cars and
Honda, Toyota, re-recall 2m vehicles

TransportFeb 1, 2015

Pontiac and Toyota vehicles will be called back for more repairs following reports that the air bags could deploy while driving, the U.S. Transportation Department said Saturday. The new recall covers vehicles made in the early 2000s with an electronic component from TRW Automotive Holdings Corp., the National Highway Traffic Safety Administration said in a release. The models involved are the Acura MDX, Dodge Viper, Jeep Grand Cherokee, Honda Odyssey, Pontiac Vibe, Toyota Corolla, Toyota Matrix
[Weekender] Juicing for health

IndustryJan 30, 2015

Juicing has become popular across the country. Many Koreans put drinking a glass of fresh fruit or veggie juice a day on their list of New Year’s resolutions, and most coffee chains have begun selling fresh juices. A fresh juice bar run by Organica at a branch of high-end supermarket chain Super Star in southern Seoul. (Organica)Behind the boom is the craze for cleansing the body of toxins with juice ― the so-called “juice cleanse.’’Drinking “detox’’ juice has become a daily routine for many Ko
[Weekender] Korea’s latest well-being movement

IndustryJan 30, 2015

For Lee Kyung-ja, a 63-year-old housewife who has lived in Latin America for more than 40 years, the biggest concern ahead of her planned return to Korea was food.Having lived in Bolivia, the home of a slew of so-called superfoods like quinoa and lentils, she had no idea how to maintain her decade-old eating habits. But her concerns vanished during a recent visit to Seoul. “I was pleasantly surprised that almost all food items from Latin America are available at local supermarkets. There were ev
Korea to develop Gwangju as hub of car ventures

TransportJan 27, 2015

The presidential office said Tuesday that South Korea would help nurture the country’s southwestern region as a center of automotive start-ups in cooperation with Hyundai Motor Group, the world’s fifth-largest carmaker.Cheong Wa Dae said Hyundai Motor Co. and its smaller sister company Kia Motors Corp. would provide about 1,000 unused patents to those who want to open automotive start-ups in an innovation center in Gwangju.“Hyundai Motor will offer substantial assistance in the whole process of
How big data can help shape policies to make cities work for the poor

Jan 26, 2015

Axel van TrotsenburgEvery minute, dozens of people in East Asia move from the countryside to the city.The massive population shift is creating some of the world’s biggest megacities including Tokyo, Shanghai, Jakarta, Seoul and Manila, as well as hundreds of medium and smaller urban areas.This transformation touches on every aspect of life and livelihoods, from access to clean water to high-speed trains that transport millions of people in and out of cities during rush hour each weekday.People m
Kim & Chang recognized as top 10 global tax law firm

IndustryJan 26, 2015

Kim & Chang ranked ninth among the world’s top tax law firms, the Korean company said Monday.The Korean firm earned the honor from the U.K.-based Legalese, which published the Tax Directors Handbook 2015 after analyzing the tax practices of law firms globally.According to the annual book, Kim & Chang has 152 tax lawyers, about 21 percent of all its lawyers. “Kim & Chang is the only law firm put on the list of the top 10 tax law firms in the Asia-Pacific region,” the company said in its release.T
Hanwha Q Cells closes solar plant in Germany

IndustryJan 23, 2015

Hanwha Q Cells, a Germany-based solar power business unit of Hanwha Group, announced Thursday that it would end its production operations in Germany from March 1 and relocate them to Malaysia. The solar photovoltaic-maker will maintain its research and development operations in Germany.“Behind the decision is weakening demand for solar cells and modules in Europe and higher labor costs than other regions,’’ a Hanwha Group official said. The group added the restructuring of Hanwha Q Cells would h
Hyundai Motor to tighten belt

IndustryJan 22, 2015

Hyundai Motor, the nation’s largest automaker, said on Thursday that although the company had achieved growth in car sales and revenue last year, its profits dropped to a four-year low. The carmaker said it sold a total of 4.96 million vehicles last year, up 4.8 percent from 2013. It posted 89.3 trillion won ($82.2 billion) in sales, a 2.2 percent rise from the previous year. Despite higher sales, its operating profit fell 9.2 percent to 7.55 trillion won ($6.96 billion) in 2014 over 2013. This
Rival firms oppose NongHyup’s parcel delivery service plan

IndustryJan 21, 2015

South Korea’s parcel delivery service companies have expressed opposition to the National Agricultural Cooperative Federation, or NongHyup, over its plan to enter the delivery business.“If NongHyup launches a parcel delivery service, it would lead to mutual destruction in the much saturated industry,” Park Jae-euk, chairman of the Korea Integrated Logistics Association, said during a press conference on Tuesday. Representatives of domestic delivery companies such as CJ Korea Express, Hyundai Log
POSCO’s $12b Indian steel project faces further delay

IndustryJan 21, 2015

POSCO’s $12 billion steel plant construction project in India is facing another delay as the Indian state government recently announced an ordinance that will require all mining licenses for iron ore and other minerals to be awarded via auctions.The mines ordinance is likely to dash the steelmaker’s long-awaited hope of getting early preferential access to an iron ore mine near the site of its steel plant in the Jagatsinghpur district of Odisha, India.“The success of the Indian steel mill projec