Journalist

Han Ji-hyun
  • Korea’s Top Business Groups Head Into Annual Meetings With Focus on Stability
    Korea’s Top Business Groups Head Into Annual Meetings With Focus on Stability Major South Korean business groups will hold annual general meetings late this month to set business plans and discuss key issues. Attention is on whether Sohn Kyung-shik, chairman of the Korea Employers Federation (KEF), will win a fifth term, and whether the heads of the country’s four largest conglomerates will return to the leadership council of the Federation of Korean Industries (FKI). Also in focus is whether the Korea Chamber of Commerce and Industry (KCCI) will reshuffle executives after a controversy over what it called false information about inheritance tax. According to the business community on Thursday, FKI, KEF, KCCI and the Korea International Trade Association (KITA) will hold annual meetings from Feb. 24 to 27 to approve business plans and budgets and review last year’s results. KEF will meet Feb. 24 to decide whether Sohn will serve a fifth term. Sohn, who took office in 2018, has led the group for eight years through four renewals. If approved again, he would lead KEF for 10 years and become its longest-serving chairman. KEF has no separate rule limiting renewals, meaning another term is possible if Sohn agrees. Sohn, born in 1939, is said to have decided after lengthy deliberation given his age. With major business issues pending — including a revised labor union law set to take effect in March and proposed revisions to the Commercial Act — business leaders have argued he is best positioned to convey management’s views to the government. He has been credited with actively delivering the business community’s positions and concerns about what the article describes as anti-business legislation since the Lee Jae-myung government took office. A business community official said Sohn has built extensive networks over about 65 years of work and is widely seen as having elevated KEF from a labor-management specialist group to a broader economic organization. The official said Sohn is among the few who can communicate candidly with the government on difficult issues such as labor regulation and Commercial Act revisions, adding that many inside and outside the business community view his working relationship with the Lee government, launched last year, as solid. FKI will hold a board meeting and annual general meeting Feb. 27. With Chairman Ryu Jin having won another term last year, the meeting is expected to focus on last year’s performance, this year’s plans, and budget and settlement items. Interest has centered on whether the owners of the four largest conglomerates — Samsung, SK, Hyundai Motor and LG — will return to FKI’s leadership council, though that is seen as unlikely. The four groups rejoined FKI as member companies in 2024, but their owners have not returned to the council. The leadership council is FKI’s top decision-making body, where major business leaders discuss economic issues and policy direction. Under FKI’s predecessor, the Federation of Korean Industries, about 20 conglomerate chiefs — including Samsung’s Lee Kun-hee, SK’s Chey Tae-won, Hyundai Motor’s Chung Mong-koo and LG’s Koo Bon-moo — met regularly, but the council was dismantled after the 2017 political scandal involving state affairs. A business community official said Ryu was reported to have tried to persuade the four group owners, but they declined. The official cited heavy corporate agendas and lingering public skepticism about such a top decision-making body as reasons for their reluctance. KITA will hold its annual meeting Feb. 25 at COEX in Seoul’s Samseong-dong to report 2025 results and approve its 2026 plan and budget, as well as vote on additional appointments of non-standing vice chairmen and directors. Chairman Yoon Jin-sik, who took the post in 2024 under the Yoon Suk Yeol administration, is serving a term through February next year, and there is little discussion of selecting a new chairman. KCCI will also hold its regular general meeting late this month to report major plans and strategy and last year’s results. After the meeting, discussions are expected to begin in earnest on an executive reshuffle that Chairman Chey Tae-won has signaled. Chey previously announced five reform steps tied to the inheritance-tax false-information controversy, including a review of whether to reappoint executives and a halt to events hosted by the chamber. A business community official said leaders of major business groups were often replaced when administrations changed, drawing criticism as “parachute appointments,” but this year there are few signs of leadership changes even as terms near expiration. The official said the government and business community appear aligned in wanting practical, working-level leaders amid high uncertainty at home and abroad. * This article has been translated by AI. 2026-02-20 18:04:15
  • Eastar Jet to Launch Daily Incheon-Hong Kong Flights Starting March 31
    Eastar Jet to Launch Daily Incheon-Hong Kong Flights Starting March 31 Eastar Jet said Thursday it will launch an Incheon-Hong Kong route on March 31, expanding its Greater China network. The route will operate daily. Flights will depart Incheon International Airport at 8:10 p.m. and arrive at Hong Kong International Airport at 10:45 p.m. local time. Return flights will leave at 12:05 a.m. the next day and arrive at Incheon at 5:10 a.m. Eastar Jet said the schedule allows passengers to reach Hong Kong before the subway stops running and to use public transportation after returning to South Korea. To mark the launch, the airline will run a promotional fare sale starting at 10 a.m. on Feb. 23 through its website and mobile app. The lowest one-way total fare, including airport fees and fuel surcharges, is 76,600 won. The travel period runs from March 31 to Oct. 24. "The Hong Kong route is a key route with steady demand for leisure and business travel, as well as connecting passengers," an Eastar Jet official said. "With a schedule that allows customers to depart after work, it will be an attractive option for office workers planning efficient trips." The Incheon-Hong Kong route will be Eastar Jet's 14th Greater China route, following Taipei and Shanghai. The airline said it plans to keep expanding its Greater China network as demand for its China routes remains strong. Last year, Eastar Jet's passenger numbers on China routes rose more than 128% from a year earlier, and the average load factor per flight increased by more than 28%, it said.* This article has been translated by AI. 2026-02-20 14:39:18
  • All 11 South Korean Airlines Ban In-Flight Use of Portable Battery Packs
    All 11 South Korean Airlines Ban In-Flight Use of Portable Battery Packs All South Korean airlines will ban the use of portable battery packs on board all flights starting this month. According to the aviation industry on the 20th, T’way Air notified passengers that beginning on the 23rd it will prohibit charging portable battery packs on board, as well as using them to charge other electronic devices such as mobile phones. Passengers may still bring portable battery packs into the cabin, but they must take steps to prevent short circuits — such as covering the terminals with insulating tape or storing each pack separately in a plastic bag or individual pouch — and keep them in a visible place. With T’way’s move, all 11 domestic airlines will prohibit in-flight use of portable battery packs. Five Hanjin Group airlines — Korean Air, Asiana Airlines, Jin Air, Air Busan and Air Seoul — have banned their use on board since January. Jeju Air also began the same measure that month. Eastar Jet ran a three-month pilot ban starting in October last year and has formally adopted the policy this year. Air Premia and Aero K also banned in-flight use starting this month. Parata Air has kept the ban in place since it began operations in September last year. Airlines have tightened carry-on rules after a January last year incident in which a portable battery pack caught fire on an Air Busan passenger plane preparing for takeoff at Gimhae International Airport, destroying the aircraft, followed by similar incidents.* This article has been translated by AI. 2026-02-20 14:36:16
  • Volkswagen Korea Launches ‘Feel & Drive’ Test-Drive Campaign for Atlas SUV
    Volkswagen Korea Launches ‘Feel & Drive’ Test-Drive Campaign for Atlas SUV Volkswagen Korea said Feb. 20 it selected the Atlas large SUV as its February featured vehicle for its customer-participation social test-drive campaign, “Feel & Drive.” Feel & Drive is a recurring program that lets customers take an in-depth drive of Volkswagen’s core models each month, including the Golf, Atlas and Touareg, tailored to individual lifestyles. The program offers a 3-night, 4-day test drive, including a weekend, aimed at highlighting the vehicles’ detailed strengths and the finish of German engineering, the company said. The February model, the Atlas, is positioned as a large SUV with one of the biggest body sizes in its class and a roomy cabin, along with powerful driving performance and a broad set of advanced convenience and safety features. Built on German engineering and space efficiency proven in the U.S. market, the Atlas was also named the “2026 Internal Combustion SUV of the Year” by the Korea Automobile Writers Association (AWAK). Winners of the test-drive campaign will be able to drive the Atlas from March 6 to 9. Applications are open through Feb. 22 by leaving a comment matching the theme on the event post on Volkswagen’s official Instagram channel. Winners will be announced Feb. 23. “Atlas is a versatile family SUV with strong driving performance and solid stability, and customers will be able to experience its true value through a deep, 3-night, 4-day test,” said Shin Dong-hyeop, executive director of marketing communications at Volkswagen Korea. “This year as well, we will provide Volkswagen’s differentiated customer experience through the Feel & Drive campaign across our lineup.”* This article has been translated by AI. 2026-02-20 13:03:18
  • Volvo Korea Cuts EX30, EX30 Cross Country Prices by Up to 7.61 Million Won
    Volvo Korea Cuts EX30, EX30 Cross Country Prices by Up to 7.61 Million Won Volvo Car Korea said Feb. 20 it will cut the list prices of its premium all-electric SUVs, the EX30 and the EX30 Cross Country (EX30CC), effective March 1. The company said the decision followed close talks with its headquarters and is aimed at broadening the EV market and giving more customers access to Volvo’s sustainable mobility. With the change, the entry-level EX30 Core will be priced in the 30 million won range, lowering the barrier to the premium imported EV segment, the company said. The EX30 Core will drop by 7.61 million won, from 47.52 million won to 39.91 million won. The EX30 Ultra and EX30CC Ultra will each be cut by 7 million won, to 44.79 million won and 48.12 million won, respectively. Government EV subsidies can further reduce purchase prices. Using Seoul’s subsidy as an example, the EX30 Core and Ultra would each receive 3.21 million won, bringing their prices to 36.70 million won and 41.58 million won. The EX30CC Ultra would receive 2.88 million won, for an effective price of 45.24 million won. Volvo Car Korea said the move is not a temporary discount tied to option changes, but a reduction in official list prices while keeping the highest-level options intact. Lee Yoon-mo, CEO of Volvo Car Korea, said the company decided on the cuts after “intense discussions” with headquarters that reflected the importance of the Korean market. He said Volvo aims to lead the mainstreaming of premium EVs through the EX30 and EX30CC and help customers experience Volvo’s value “without 부담,” or undue burden. The EX30 and EX30CC are all-electric SUVs that Volvo says offer flagship-level safety technology and convenience features despite their compact size. The EX30 uses a 66kWh NCM battery and a rear-wheel-based single-motor extended powertrain, producing 272 horsepower and 35.0 kg.m of maximum torque. It accelerates from 0 to 100 kph in 5.3 seconds and has a combined driving range of 351 km per charge. The EX30CC uses a 66kWh NCM battery and an all-wheel-drive twin-motor performance powertrain, producing 428 horsepower and 55.4 kg.m of maximum torque. It goes from 0 to 100 kph in 3.7 seconds and has a combined driving range of 329 km per charge. Volvo Car Korea said it will continue to offer what it called industry-leading coverage: a free warranty and consumables replacement service for five years or 100,000 km, and a high-voltage battery warranty for eight years or 160,000 km. It also includes 15 years of free over-the-air (OTA) updates and a free 5G digital package for five years. * This article has been translated by AI. 2026-02-20 09:27:00
  • Hyundai Glovis Hits 7% Operating Margin Goal Early, Eyes Global Logistics Growth
    Hyundai Glovis Hits 7% Operating Margin Goal Early, Eyes Global Logistics Growth Hyundai Glovis is accelerating its push to become a global logistics company after reaching its 2030 target of a 7% operating profit margin ahead of schedule. The company is expanding vehicle shipments beyond Hyundai Motor and is also moving cargo tied to advanced industries such as defense, energy storage systems (ESS) and hydrogen. According to industry officials on Feb. 19, Hyundai Glovis posted 29.567 trillion won ($) in sales last year and 2.073 trillion won in operating profit, up 4.1% and 18.3% from a year earlier. Its operating margin came to about 7.1%, achieving a goal CEO Lee Kyoo-bok had set five years early. At a "CEO Investor Day" in June 2024, Lee outlined a plan to invest 9 trillion won by 2030 to reach 40 trillion won in sales and a 7% operating margin. All business lines grew: integrated logistics handling domestic and overseas transport (35%), the distribution unit covering CKD parts and used-car exports (47%), and ocean shipping (18%). A company official said Hyundai Glovis has helped clients cut logistics costs by leveraging routes built through Hyundai vehicle exports and by shortening lead times for auto-parts transport. The official added that proactive responses to free trade agreement risks and efforts to reduce costs at overseas plants helped win global customers. Hyundai Glovis has signed long-term ocean shipping contracts with automakers including Volkswagen, BMW, Ford and GM, and it also transports vehicles from Tesla and China’s BYD across Europe. It recently shipped defense products to Poland and other parts of Europe, including 124 K2 tanks and 60 K9 self-propelled howitzers. The company is also expanding into heavy and oversized breakbulk cargo that cannot be loaded into containers, such as power-generation equipment, trains, aircraft and mining machinery. It aims to lift non-affiliate revenue to 50% within four years. As of last year, cargo from affiliates accounted for 60.7% of volume, down 4.8 percentage points from the previous year. Hyundai Glovis plans to deploy four LNG carriers by 2027 to transport cargo for Middle Eastern shippers and to begin ocean-shipping projects involving high-speed trains, petrochemical plant equipment and ESS batteries. It also plans to start transporting ammonia and liquefied hydrogen around 2031. A company official said Hyundai Glovis aims to increase finished-vehicle ocean shipments from about 3.4 million units to 5 million and become the No. 1 car-carrier shipping company by 2030. The official said the company will build on its 147 logistics networks across 27 countries, freight-rate competitiveness and supply-chain flexibility to become a top-tier global player linking logistics, shipping and distribution. * This article has been translated by AI. 2026-02-20 05:03:00
  • Mercedes-Benz Korea to Launch Direct Online Sales as Imported Brands Expand Fixed-Price Model
    Mercedes-Benz Korea to Launch Direct Online Sales as Imported Brands Expand Fixed-Price Model Imported carmakers are moving away from dealer-led sales toward online direct-to-consumer models. Following Tesla, brands such as Polestar, Honda and Volvo (for new vehicles) have expanded direct sales, and industry No. 2 Mercedes-Benz is set to introduce its own system in the first half of this year. Supporters say cutting distribution margins and price markups could expand the overall market, while critics warn it could weaken dealer-built service networks and hurt consumers. According to industry officials on the 19th, Mercedes-Benz Korea will begin fully implementing its direct-sales model, “Retail of the Future” (RoF), starting in April. Under RoF, the Korean unit distributes vehicles directly and runs pricing closer to a fixed-price system. The key feature is that headquarters will manage vehicle prices, inventory and delivery dates, allowing customers to buy at the same price nationwide. To integrate systems, the company has significantly increased staff based in South Korea, while dealers will focus on showroom operations, after-sales service and specialized repairs. A Mercedes-Benz Korea official said the company communicated steadily with dealers for about two years to address misunderstandings and distrust that could arise early in the rollout, and now believes the groundwork is in place for stable adoption. The official said consumers can expect benefits from removing distribution margins and moving toward fixed pricing, while dealers, as official partners, can concentrate on improving service quality, calling it a win-win. More imported brands have adopted direct sales in recent years. Tesla Korea has used direct sales since entering the market, and Volvo Korea, Polestar Korea, Honda Korea, Toyota Korea, Stellantis Korea and Cadillac Korea have expanded direct-sales programs over the past five years. These brands allow customers to buy vehicles online and check inventory and delivery timing in real time. An industry official said the traditional dealer system often forced consumers to shop around because prices, delivery dates and service benefits varied by importer, but direct sales unify pricing and channels, making management easier for headquarters and purchases more convenient for customers. Dealers, however, say wider adoption of direct sales could limit competition, raise imported-car prices over the long term and lead to negative effects such as fewer service centers. Tesla, which has maintained direct sales, sells about 60,000 vehicles a year in South Korea but has only 16 service locations nationwide. A dealer official said dealers have helped expand the imported-car ecosystem despite low margins of about 3% to 5% of vehicle prices, taking on inventory purchases, financing interest, large showroom openings and building after-sales networks. The official said that as direct sales expand and sales margins shrink, dealers could face disruptions in operating the large service centers they currently run. 2026-02-19 18:04:20
  • MAN Truck & Bus Korea Holds 2026 Sales and CSM Conference in Cheongju
    MAN Truck & Bus Korea Holds 2026 Sales and CSM Conference in Cheongju MAN Truck & Bus Korea said it held its “2026 Sales & CSM Conference” on Feb. 11 in Cheongju. The company said the event was designed to mark the start of its 25th year since establishing its Korean unit, review last year’s results and share key tasks for this year. About 160 people attended, including President Peter Andersson, employees, representatives from sales branches and service centers nationwide, and officials from MAN Financial Services. Under the motto “Stronger Together,” the conference reviewed last year’s performance and shared 2026 strategic directions and major tasks across core areas including products, services and finance. The company also held internal networking sessions aimed at strengthening coordination and collaboration. MAN Truck said it surpassed cumulative sales of 15,000 units last year despite a challenging market, which it said demonstrated strong brand competitiveness. It said it strengthened its lineup with new products tailored to the Korean market and announced its “MAN CORE 360” strategy. The company also focused on service capabilities by opening a company-run service center in Busan, launching the “MyMAN Korea” mobile app, and running “MAN Service Day,” a free on-site inspection program. This year, the company said it will continue to develop customer-focused business activities by expanding customer participation programs such as total cost of ownership reduction initiatives and test-drive events. It also plans to pursue the opening of a service center in Icheon and to improve service quality through skills development and structured training under its Ausbildung program. The engine division plans to strengthen its position in marine and energy engines with new engines that apply gas-engine technology and solutions based on MAN Smart Hybrid, the company said. An awards ceremony was also held to recognize top-performing sales staff and service centers from last year. Awards were presented in 21 categories, including top overall sales, top sales by product, highest year-over-year growth in sales, best CXI (customer experience index) service center, and best SSD (service site development) service center. MAN Truck also held a special event to support 18 trainees starting the eighth class of its German-style vocational training program, Ausbildung. The program combines on-the-job training with classroom instruction to develop skilled technical workers. MAN Truck said it has selected a total of 124 trainees since 2018, after signing a business agreement with the Korean-German Chamber of Commerce and Industry. “Over the past 25 years, MAN Truck’s development in the Korean market has been possible thanks to the dedication of our employees across sales, service and headquarters, and our customers’ continued trust,” Andersson said. “This year, we will expand our activities in Korea by introducing new products and services and strengthen customer-centered business solutions.”* This article has been translated by AI. 2026-02-19 10:39:00
  • South Korea Falls to No. 9 in U.S. Import Market as Trump Tariffs Bite
    South Korea Falls to No. 9 in U.S. Import Market as Trump Tariffs Bite South Korea’s position in the U.S. market weakened compared with major competitors, reflecting the impact of U.S. tariffs, according to an analysis of U.S. government trade data. An analysis of U.S. Commerce Department import and export statistics released Tuesday on the Korea International Trade Association’s statistics service showed the United States imported $113.4 billion in goods from South Korea last year through November. That was down 5.9% from the same period a year earlier. South Korea accounted for 3.6% of total U.S. imports, ranking ninth among the top 10 suppliers. That was down two places from a year earlier. It was South Korea’s lowest ranking since 1988, the earliest year tracked in the association’s analysis. South Korea held steady at No. 6 or No. 7 for 15 years starting in 2009, and in 2024 it ranked seventh with a 4.0% share, just before the Donald Trump administration took office. The top U.S. import sources last year through November were Mexico ($492.5 billion, 15.7%), Canada ($351.2 billion, 11.2%), China ($287.3 billion, 9.2%), Taiwan ($176.7 billion, 5.6%), Vietnam ($175.3 billion, 5.6%), Germany ($140.8 billion, 4.5%), Japan ($133.8 billion, 4.3%) and Ireland ($129.7 billion, 4.1%). The drop suggests South Korea was hit harder than rivals by the Trump administration’s broad tariff policy. Taiwan and Ireland, which ranked below South Korea in 2024, moved ahead last year. Taiwan, a key competitor to South Korea in foundry chip manufacturing, jumped from No. 8 in 2024 (3.6%) to No. 4 last year (5.6%). Taiwan has been temporarily subject to a 20% reciprocal tariff because it has not completed a trade deal with the Trump administration, but semiconductors, its main export, are not subject to separate product-specific tariffs, limiting the direct impact on exports. South Korea, by contrast, took a bigger hit because major exports such as automobiles, steel and machinery were subject to high tariffs. Japan, which is seen as having a similar trade structure to South Korea due to its strong manufacturing base in autos and semiconductors, also slipped two places, from No. 5 to No. 7. 2026-02-18 10:42:00
  • Report: Hyundai, Tesla Lead AI Robotics Push, but Profitability and Ethics Remain Hurdles
    Report: Hyundai, Tesla Lead AI Robotics Push, but Profitability and Ethics Remain Hurdles AI-powered robots are expected to reshape manufacturing and boost efficiency across industrial processes, and analysts say the auto industry is especially well positioned to scale the technology. The report said advanced control and driving technologies already used in vehicles could be combined with robotics, expanding business opportunities across many areas of human mobility and helping build a next-generation mobility ecosystem. But it said commercialization will require progress on cutting costs, improving productivity, building data sets and addressing ethical concerns. On Feb. 18, the Export-Import Bank of Korea’s Overseas Economic Research Institute released a report titled “The auto industry’s entry into AI robotics and risk factors.” It forecast the global AI robotics market will grow 46% annually through 2034 to $375.9 billion (544 trillion won). The institute said automakers including Hyundai Motor and Tesla are currently driving the market. It said Hyundai’s Atlas is being advanced for use in industrial sites, focusing on manufacturing processes, while Tesla’s Optimus aims to secure leadership through development of general-purpose AI robotics. Tesla plans to integrate its own algorithms into robot systems and gradually deploy intelligent control systems in factories so robots can perceive and make decisions, the report said. It said Tesla is training Optimus on real-time driving data and pursuing a strategy to capture labor-replacement markets through mass production. Optimus units deployed at Tesla plants are being used in practical tasks such as moving battery cells to improve autonomous decision-making, it said. The report said Hyundai’s open-API strategy is designed as a platform that allows broad participation by partners. It said an end-to-end value chain could help Hyundai secure real-world data based on its own demand and build a vertically integrated data structure, giving it strong potential to lead its own intelligent mobility market. The report defined an end-to-end value chain as a supply chain that integrates and manages the entire process of delivering products and services to customers. Hyundai plans to invest 50.5 trillion won in AI robotics by 2030, exceeding Tesla’s AI investment of 13.5 trillion won, the report said. It added Hyundai is building a robot-dedicated plant in the United States with annual capacity of 30,000 units. The institute estimated the price of Hyundai’s Atlas at $130,000 and projected the investment could be recovered within two years after adoption. It said deploying Atlas in production sites could raise productivity by up to threefold by improving assembly efficiency. “Hyundai is internalizing AI robotics control technology through its acquisition of Atlas (Boston Dynamics) technology, and is pushing a practical strategy that applies its capabilities on site to move beyond simple mechanical movement and shift manufacturing toward unmanned operations,” the report said. “High-performance AI robotics will play a key role in that process.” The report also cited hurdles. It said Hyundai has gained flexibility through its open-API strategy to adopt a vision-language-action (VLA) model with language-based reasoning, but the total volume of real-time data being accumulated is not sufficient, limiting the speed of AI self-learning. Other challenges include malfunction risks in complex situations, building data for unexpected events, delays in generating profits due to technical constraints, and defining the operating scope of AI robots that can collaborate with humans, it said. “AI robotics has limited ability to respond to situations outside specific scenarios, and high upfront investment costs are a major burden on short-term profitability,” the report said. “In addition, because responsibility for AI robotics working with humans is not clearly established, legal disputes between manufacturers and operators and difficulties in compensation systems are also expected in the event of accidents.” * This article has been translated by AI. 2026-02-18 10:30:00