The Korea Herald

Shin Ji-hye

안녕하세요 Shin Ji-hye 기자입니다.

shinjh@heraldcorp.com

Articles by Shin Ji-hye

Think tank urges closure of some FEZs

IndustryOct 28, 2014

The state-run Korea Development Institute on Tuesday called for a reduction in the number of free economic zones in Korea to focus on improving areas of core competitiveness. “In order to attract more foreign companies, the government should shut down some of the economic zones, those that have been underperforming,” said Song Young-kwan, a senior KDI researcher. “Instead, we should focus on those that are doing well, allowing them more deregulation and the means for more efficiently managing fo
Shinhan Bank expands microcredit financing

IndustryOct 28, 2014

Shinhan Bank has been expanding its microcredit financing business for low-income customers, with the service reaching 1 trillion won ($900 million) in the first half of this year, the company said Tuesday. “We are stepping up our efforts to make society better through the company’s finance business for low-income earners,” said Suh Jin-won, president of Shinhan Bank. Shinhan Bank has been making progress in its financial support programs for borrowers with low credit scores. Shinhan Bank emplo
Tax revenue shortfall to top W10tr this year

IndustryOct 27, 2014

Finance Minister Choi Kyung-hwan (right) discusses key economic issues with his deputy during an audit on the ministry’s fiscal policies at the National Assembly in Seoul on Monday. (Ahn Hoon/The Korea Herald)The government is seeking to reduce expenditure as its tax revenue shortfall is expected to surpass 10 trillion won ($95 billion) this year, according to a report published by the National Assembly Budget Office last week. The shortfall is forecast at 10.7 trillion won, as this year’s tax r
LG Electronics, LG Chem to support social enterprises

IndustryOct 26, 2014

LG Electronics said Sunday that it would set up a 6 billion won ($5.6 million) fund with its affiliate LG Chem to invest in social enterprises over the next three years.The South Korean tech giant said the LG Social Fund would financially support companies such as social venture firms and village enterprises seeking to improve the country’s socioeconomic conditions by creating innovative solutions.The LG companies said they hoped LG-backed social enterprises would not only increase productivity
IBK Securities aims to join top 10 brokerages

IndustryOct 23, 2014

IBK Securities’ chief on Thursday outlined the ambitious goal of becoming one of the industry’s top 10 brokerages during his term, even though it has yet to reach the top 20 among the 41 in the nation.“We expect to see 10 billion won ($9.5 million) in net income this year and also will aim to enter the industry’s top 10 in terms of return on equity,” IBK Securities’ chief Shin Seong-ho told reporters at his first press meeting in Seoul on Thursday. IBK Securities’ chief Shin Seong-ho. (IBK Secu
‘Choinomics’ marks 100 days

IndustryOct 22, 2014

As Finance Minister Choi Kyung-hwan marks his first 100 days in office on Thursday, questions are being raised about his economic vision ― dubbed “Choinomics” ― as the nation continues to grapple with rising household debt and the economy showing lackluster performance amid lowered growth forecasts. Since Choi took office in July, he proposed diverse measures to boost the sluggish economy. They included a 41 trillion won ($40 billion) stimulus package, relaxed mortgage regulations for stimulatin
Forest fires cause biodiversity loss: forum

IndustryOct 21, 2014

Global forest experts on Tuesday discussed the negative impact of forest fires, including the loss of biological diversity, during a sideline event of the 12th meeting of the Conference of the Parties to the Convention on Biological Diversity hosted by the Korea Forest Service. “In recent years, we have frequently witnessed large-scale forest fires all over the globe, mostly on account of climate change. This has caused damage to plants, wild animals and insects, leading to a loss in biodiversit
Agriculture Ministry partners with Portuguese food association

IndustryOct 20, 2014

South Korea’s Agriculture Ministry said Monday that it had partnered up with PortugalFoods, a Portuguese food association, at SIAL Paris 2014, an international food exhibition being held in Paris from Oct. 19-23. PortugalFoods is a Portuguese agro-food association, which was set up in 2009 to promote the nation’s food industry and to build networks with compatriot and foreign firms. The South Korean government said the partnership was a follow-up measure to the discussion the presidents of the t
Hite Jinro brews for global audience

IndustryOct 16, 2014

Hite Jinro’s persistent efforts to globalize appear to be paying off as the leading South Korean distiller is successfully shipping to a growing number of regions across the world. Until now, Hite Jinro was mainly focused on the Asian and U.S. markets, but recently began to expand significantly and added a number of new continents to its clientele.Early this year, the distiller partnered with Dominican Republic’s leading tourist company, Barcelo Group, to target Latin American consumers. It also
Samsung Lions clinch 4th straight pennant in S. Korean baseball

BaseballOct 15, 2014

Yamaico Navarro of Samsung LionsThe Samsung Lions clinched their fourth consecutive pennant in the top South Korean baseball league with a narrow victory on Wednesday.The Lions defeated the LG Twins 5-3 at their home in Daegu, about 300 kilometers southeast of Seoul, to secure first place in the Korea Baseball Organization (KBO) regular season this year with one game remaining. Second baseman Yamaico Navarro hit a tie-breaking solo shot in the two-run eighth inning, as the Lions improved to 78-4
BOK cuts key rate to record low

IndustryOct 15, 2014

South Korea’s central bank cut its benchmark interest rate to a record low of 2 percent from 2.25 percent on Wednesday on the grounds of a sluggish global and domestic economy. The Bank of Korea last lowered the rate from 2.5 percent to 2.25 percent in August. “Despite the signs of a global economic recovery, the world economy is faced with several uncertainties including further changes in the Fed’s monetary policy, a prolonged euro-area slowdown, weak growth in the emerging markets and lingeri
China blocks BBC website amid Hong Kong protests

World NewsOct 15, 2014

The BBC's website was blocked in China Wednesday, hours after a video of Hong Kong police beating and kicking a pro-democracy protester began circulating online.The move appears to be the first time the British broadcaster's English-language website has been completely blocked in China since December 2010, when it was inaccessible for days before the Nobel Peace Prize award ceremony for Chinese dissident Liu Xiaobo.The BBC's Chinese-language website has been blocked in China since it was launche
Warrants sought against 2 Chinese fishermen for alleged violence

Social affairsOct 15, 2014

South Korea's Coast Guard said Wednesday that it has sought warrants for two Chinese fishermen on charges of illegally fishing in South Korean waters and violently resisting a crackdown by the Coast Guard that resulted in the death of a Chinese skipper.Dozens of Chinese fishermen resisted violently with knives and beer bottles during the crackdown in waters 144 kilometers off South Korea's western coast on Friday, according to the South Korean Coast Guard.A South Korean Coast Guard officer fired
Park calls for bigger biz partnership with Italy

Foreign affairsOct 15, 2014

MILAN -- President Park Geun-hye on Wednesday urged businessmen and authorities from South Korea and Italy to expand bilateral cooperation, so that the two countries could together attain new global business opportunities through strengthening partnership.Highlighting Italy‘s role in leading industrial innovation and also Korea’s advanced IT technology and manufacturing capability, Park said the two nations could produce outstanding business outcomes if they work together.“If the two nations cou
International food firms flock to Foodpolis

IndustryOct 14, 2014

A growing number of food companies at home and abroad are displaying a growing interest in South Korea’s food cluster, Foodpolis. More than 100 companies have already signed deals with the Agriculture Ministry here to operate in Foodpolis, which is set to be completed by 2016 in Iksan, North Jeolla Province. The firms, according to the local government, apparently view Foodpolis as an ideal investment source due to its proximity to China and Japan, and also because of the advantages offered by K

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