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The Korea Herald

Economy

July 25, 2024
SK hynix Q2 earnings soar to record high on AI chip boom

SK hynix, the world’s second-largest memory chip maker by revenue, said Thursday it logged all-time-high sales of 16.4 trillion won ($11.8 billion) in the April-June period this year, riding on the robust demand for artificial intelligence chips. Reporting the second quarter's earnings, the compa...
July 25, 2024
2nd generation of owner families at mid-level conglomerates owns 33.5% of shares

An analysis of 81 conglomerates categorized as "middle market enterprises" showed Wednesday that the second generation of owner families owns a total of 33.5 percent of company shares. Corporate tracker CEO Score analyzed the shareholding structure of companies with 2 trillion won ($1.44 billion) ...
July 25, 2024
[Business Diplomacy] Korea becomes popular destination for US governors

With an aggressive incentive package, Kentucky also secured investment from SK On. BlueOval SK, the joint affiliate between SK On and US auto giant Ford, is spending $5.8 billion to build a battery plant in the southeastern state. "We provided one of the largest incentive packages in our history. ...
July 24, 2024
KIAT to support tech firms with regulatory sandbox

Korea Institute for Advancement of Technology is collaborating with the Ministry of Trade, Industry and Energy to bolster financial and direct investment support for companies approved under their collaborative regulatory sandbox. On Wednesday, KIAT hosted the first Investor Relations Day event fo...
July 24, 2024
[Herald Interview] Investing in cows: how it works, where it's headed

Building value chain Stockeeper aims to boost investor support by developing a comprehensive value chain that covers every stage, from cattle birth to sale. With the Bankcow platform focused on raising calves, the operator has recently expanded into the distribution market by opening a processing...
July 22, 2024
Biden's withdrawal sparks mixed outlook for Kospi

Analysts here took a mixed view on how US President Joe Biden’s withdrawal from the November presidential race would affect South Korean shares, with growing uncertainty expected to hurt investor sentiment. Some brokerages expected the benchmark Kospi index to dip below the 2,650 level due to hei...
July 22, 2024
Hanwha-HD Hyundai rivalry shifts to US warship maintenance

Hanwha Ocean plans to use the Philadelphia-based Philly Shipyard in the US, which it had acquired jointly with the conglomerate’s defense subsidiary Hanwha Systems for $100 million last month. Hanwha’s announcement came 11 days after HD Hyundai Heavy Industries became the first Korean shipbuilde...
July 22, 2024
Record-high college graduates not working or looking for jobs

The number of South Koreans without a job or seeking a job marked an all-time high in the first half of this year, government data showed Sunday. According to Statistics Korea, there were 4.058 million people in the country with a college degree who were considered an "economically inactive popula...
July 21, 2024
Korea logs record US trade surplus in 1st half amid surging Trump risks

South Korea logged an all-time high trade surplus with the United States in the first half of this year based on strong auto exports, as the country monitors the US presidential race carefully and the chances of a second Donald Trump administration’s heavy protectionism. According to the Ministry...
July 18, 2024
S. Korea to seal $17b nuclear plant deal with Czech Republic by 2025

South Korea is close to securing a landmark contract to build nuclear power plants in the Czech Republic in a deal valued at approximately $17.3 billion, with finalization expected by March 2025. On Thursday, Minister of Trade, Industry, and Energy Ahn Duk-geun held a press briefing to confirm the...
July 18, 2024
S. Korea's unemployment up 16.9 percent on-year: report

Recent government data showed Thursday that the number of involuntarily unemployed people in South Korea reached 1.24 million in June, marking a 16.9 percent increase from the same month last year. According to a report by Rep. Hwang Jung-a of the main opposition Democratic Party of Korea, the fig...
July 16, 2024
[Herald Interview] SK’s investment in Kentucky to attract more investors like ‘gravity’: Gov.

SK On’s new battery plant in Kentucky – the world’s largest of its kind – will help attract more investments into the US state like “gravity,” Gov. Andy Beshear told The Korea Herald in an interview held in Seoul on Monday. SK On, the battery-making unit of SK Group, has set up a joint ventu...
July 15, 2024
Trump presidency won’t be a bane for Korean firms: FKI chief

The head of the Federation of Korean Industries, the country’s major business lobby has said another term for former US President Donald Trump would be favorable for Korean companies operating there, as he would not discriminate against foreign firms that invest in the country. Ryu Jin, the FKI c...
July 15, 2024
Committee on Space Research underscores international cooperation

BUSAN -- Yoon Young-bin, the head of Korea AeroSpace Administration, or KASA, on Monday reiterated the importance of collaboration and cooperation in space to make progress across borders for the prosperity of humanity at the 45th Committee on Space Research, or COSPAR, at Bexco in Busan. “In ord...
July 15, 2024
[Business Diplomacy] Lessons from IRA: Hyundai Motor bolsters government relations in US

By Kan Hyeong-woo ( hwkan@heraldcorp.com )

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Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
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