Articles by Park Han-na
Park Han-na
hnpark@heraldcorp.com-
HIT forum on space to be held in Seoul
The Korea Herald, the nation’s largest English newspaper, will kick off its annual business forum under the theme, “Beyond Earth,” on Wednesday to discuss the ever-evolving and highly dynamic space industry while endeavoring to understand humanity's connection with the universe. The 2023 Korea Herald "Humanity In Tech" or "HIT" forum will shed light on the rising industry and Korea’s recent progress in the field, including the successful launch of
Industry Oct. 10, 2023
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Indonesia-Korea collaborative platform to empower farmers
A business collaboration platform that will bridge 62 million Indonesian farmers to Korean scientists and global investors has been launched to support them in garnering cutting-edge skills like meta farming and carbon trading, as the two countries work to champion sustainability in the digital economy. The Green Digital Economy Platform (GDEP), spearheaded by HumanX, a global partnership promoting human-centered technology, was officially unveiled on Friday under the endorsement of Indonesi
Economy Sept. 17, 2023
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GS1 CEO calls on retailers to adopt QR codes to build trust
GS1, a nongovernmental organization based in Belgium that manages the bar codes scanned over 6 billion times daily across the globe, is set to unlock the future of the global retail industry with next-generation bar codes by supporting companies and consumers to access abundant trusted product data. GS1 CEO Renaud de Barbuat called on Korean business leaders in the retail and logistics industries to take a leap towards the digital transformation by replacing the bar codes they are using with two
Industry Sept. 6, 2023
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Over 50% of Korean firms missing earnings target in China this year: survey
China’s disappointing economic recovery has led more than half of Korean companies to miss their earning targets in the market, with abounding downside risks hampering the path to a rebound in the second half of the year, Korea’s major business lobby group said Wednesday. The Korea Chamber of Commerce and Industry raised concerns over the factors causing financial instability in China which could further drag Korean companies down, including its real estate market crisis, contracti
Economy Aug. 30, 2023
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How will China's lifting of group travel ban affect Korea's GDP?
China’s lifting of group tours to South Korea is estimated to lead to 800,000 more travelers and raise Korea’s gross domestic product by 0.06 percent this year, the Bank of Korea said Friday. The resumption of group tours is expected to have a significant impact on the recovery of Chinese tourists visiting Korea, considering that about 40 percent of all Chinese tourists were group tourists before the restrictions were put in place, according to an economic outlook report released b
Economy Aug. 25, 2023
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New FKI chief vows to ensure transparency to 'clean up dark past' as chaebol rejoin
The new chairperson for the Federation of Korean Industries vowed that the business lobby group would prevent government-business collusion and push for a transparent corporate culture to “clean up the dark past” of a massive influence-peddling scandal it was embroiled in 2016. In its ad hoc general meeting held Tuesday, the lobby group appointed Ryu Jin, chairman of Poongsan Group, as the new chairperson of the FKI. The meeting was an arena where it announced the kick-starting of th
Industry Aug. 22, 2023
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Big 4 chaebol groups seek to rebuild FKI
South Korea’s top four chaebol groups -- Samsung, SK, Hyundai Motor and LG -- are likely to rejoin the Federation of Korean Industries, the disgraced business lobby group that has remained practically defunct for years following the revelation of its role in a massive influence-peddling scandal in 2016. According to industry sources on Monday, key affiliates of the nation’s top conglomerates recently held board meetings to approve them rejoining the FKI. The latest decision comes a
Industry Aug. 21, 2023
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Industries upbeat about return of Chinese tourists
The Chinese government has decided to allow group tours to South Korea after a six-year hiatus instigated by diplomatic bickering between Seoul and Beijing, as well as the COVID-19 pandemic. China's Ministry of Culture and Tourism on Thursday said it would lift restrictions on its nationals to travel in groups to 78 countries around the world, including Korea, the United States and Japan. The ban on Chinese group tours to Korea was removed for the first time since it was put in place as
Economy Aug. 10, 2023
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At least 14 injured in Bundang stabbing, car rampage
At least 14 people were injured when a car ran onto the sidewalk before a suspect got out and went on a stabbing rampage in Seongnam, Gyeonggi Province, Thursday, Yonhap news agency said, citing police and fire authorities. Police detained the suspect, a 23-year-old man surnamed Choi, at the scene at 5:55 p.m., following the reported incident near Seohyeon Station, on the Bundang Line of the Seoul subway network. According to sources, Choi is a delivery industry worker. The police confirmed th
Social Affairs Aug. 3, 2023
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Busan's Expo bid about progress not money
South Korea’s eagerness to host the World Expo 2030 in Busan goes far beyond the pursuit of a multi-trillion-won injection into the economy, and is instead seeking to become an important international platform that will contribute to humanity, according to SK Group Chairman Chey Tae-won on Wednesday. “People often talk about the economic impact ... of hosting the expo. … More importantly, I think Korea should take a responsible course of action towards (having an impact on)
Economy July 27, 2023
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[KH explains] Why is Korea going for a second legal bout with Elliott?
A yearslong legal dispute between the South Korean government and US hedge fund Elliott Investment Management has entered another phase, as the government decided to file a suit to reverse an international tribunal's order to pay some $108 million in damages to the hedge fund. At the center of the protracted legal battle is the controversial 2015 merger of two Samsung Group affiliates -- Samsung C&T and Cheil Industries. Elliott, a minority stakeholder in Samsung C&T, sued the Kor
Economy July 24, 2023
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BOK unlikely to cut rates this year: Gov. Rhee
The Bank of Korea is unlikely to cut interest rates this year because of uncertainty in the inflation outlook and massive household debt, central bank Gov. Rhee Chang-yong said Friday. "It is difficult to say that we will lower the interest rates for the time being, so don't expect too much that there will be a drop in the interest rates," he said during the 45th Jeju Forum hosted by the Korea Chamber of Commerce and Industry at Jeju Haevichi Hotel Resort. "We will look at
Economy July 14, 2023
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Private-public teamwork is new survival tactic for businesses: Chey
SEOGWIPO, Jeju Island -- Gone are the days when it was sufficient for companies to have the upper hand in the global market by sharpening their competitive edge on their own. Governments and corporations teaming up together has become a global phenomenon to deal with uncertainties induced by supply chain disruptions and economic rivalry between the US and China, SK Group Chairman Chey Tae-won said Wednesday. Fragmented global markets unfolded new ways of survival, requiring governments to partne
Industry July 13, 2023
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M&A activity plummets 40% in H1
The total transaction volume of cross-border mergersand acquisitions involving Korean companies decreased by more than 40 percent in the first half of this year compared to the previous year, according to a major business lobby group, which called for the government support for deals with overseas tech companies. According to a report released by the Sustainable Growth Initiative, a think tank under the Korea Chamber of Commerce and Industry on Monday, the volume of transactions in domestic
Economy July 10, 2023
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Chaebol chiefs meet with French president
Korean business tycoons met with French President Emmanuel Macron to discuss their cooperation in strategic industry projects including energy and next-generation transportation, a business lobby group Korea Chamber of Commerce and Industry said Thursday. At the meeting held at the Elysee Palace in Paris with heads of Korea's top eight conglomerates on Wednesday, President Macron presented the economic and social reform policies that France is pursuing to strengthen the country’s inve
Industry June 22, 2023
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Lee Jong-sup resigns as envoy to Australia
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